The Raketech Journal

Q3 2024: Challenging Environment Continues, Solid Free Cash Flow

Quote from Johan Svensson, CEO “Revenues in Q3 2024 totalled EUR 12.9 million, down 39.9% compared to a very strong Q3 2023 (EUR 21.5 million, of which EUR 0.4 million from the divested advisory business), with adjusted EBITDA of EUR 3.1 million (EUR 5.6 million) and EBITDA of EUR 3.0 million (EUR 5.6 million) reflecting lower sales in all business areas. We have continued our evaluation of all products and business areas to better position ourselves for sustainable, long-term growth and operational efficiency. These initiatives have resulted in the successful sale of ATS Advisory on July 31st and the formation of two strategic partnerships within Affiliation Marketing, as well as realizing cost savings following the review of our operating model.”

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Q2 2024: Navigating a Challenging Quarter, In Line with Expectations

Quote from Johan Svensson, CEO “Revenues in Q2 of 2024 totalled EUR 17.0 million (EUR 17.6 million). Strong growth in sub-affiliation were offset by a decline in affiliation marketing. EBITDA was EUR 4.4 million compared to adjusted EBITDA of EUR 5.5 million of last year, in line with expectations. The impact of the Google update was most evident for our Casumba assets in Q2, and we have acted swiftly by mobilizing resources from across the company to strengthen the team. A comprehensive business audit was finalized in connection with the end of the Google update. This has led to several initiatives around enhanced content focused on a broader audience, technical product improvements, SEO optimization and full focus on user experience. We have made progress in stabilizing performance, albeit at a reduced level, and we feel confident that our actions will return the assets to growth.

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NOTICE OF EXTRAORDINARY GENERAL MEETING 2024 OF RAKETECH GROUP HOLDING P.L.C. in accordance with Article 57 of the Articles of Association of the Company (the “Articles”).

NOTICE IS HEREBY GIVEN that the EXTRAORDINARY GENERAL MEETING 2024 (the “Meeting”) of Raketech Group Holding p.l.c., company registration number C77421 (the “Company” or “RGH”), will be held on 26 June 2024, at 1 p.m. (CET) at the premises of the Company in SOHO Office (The Strand), Fawwara Building, Triq l-Imsida il-Gzira, Malta.

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Raketech’s Board of Directors withdraws dividend proposal

After careful consideration and in order to best serve the business’s needs, increase the company’s long-term financial flexibility, and serve the long-term interests of both the company and its shareholders, the Raketech Board of Directors has decided to withdraw its previously announced proposal to the Annual General Meeting on 16 May 2024 to distribute dividends in 2024.

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