Interim report Q2 2019


  • Total revenues amounted to EUR 5.7 million (EUR 6.0 million) representing a decrease of 6.1%.
  • Organic growth amounted to -8.8% (24.5%).
  • Adjusted EBITDA decreased by 10.7% to EUR 2.9 million (EUR 3.2 million), corresponding to a margin of 51.1% (53.7%).
  • Adjusted operating profit amounted to EUR 2.0 million (EUR 2.9 million), corresponding to a margin of 35.1% (48.3%).
  • Profit for the period increased by EUR 1.5 million from EUR 0.2 million to EUR 1.7 million.
  • Earnings per share before dilution amounted to EUR 0.04 (EUR 0.01) representing an increase by 400.0%.
  • NDCs (New Depositing Customers) increased by 21.7% to 24,974 (20,519).


  • Total revenues amounted to EUR 14.4 million (EUR 10.9 million) representing an increase of 31.7%. Total revenues include other non-operating income of EUR 2.3 million (nil) related to a waived liability regarding one related party during the first quarter which is recognised as other income.
  • Revenues excluding other income increased by 10.8% to EUR 12.1 million (EUR 10.9 million).
  • Organic growth amounted to 5.1% (18.1%).
  • Adjusted EBITDA increased by 10.8% to EUR 6.4 million (EUR 5.8 million), corresponding to a margin of 52.7% (52.7%).
  • Adjusted operating profit amounted to EUR 4.8 million (EUR 5.2 million), corresponding to a margin of 39.5% (48.0%).
  • Profit for the period amounted to EUR 6.4 million (EUR 1.1 million) representing an increase by 485.9%.
  • Earnings per share before dilution amounted to EUR 0.17 (EUR 0.04) representing an increase by 325.0%.
  • NDCs (New Depositing Customers) increased by 45.8% to 53,582 (36,762).


  • On 24 April, Oskar Mühlbach was appointed as Chief Operating Officer.
  • On 26 April, Raketech acquired the assets of leading Finnish sport listing website for an initial purchase price of EUR 1.6 million plus an additional EUR 0.3 million payment over the next 24 months based on agreed performance targets.
  • During June 2019 Raketech has repurchased in total 379,000 own shares. The share repurchases have been carried out within the buy-back programme authorised at the annual general meeting held 8 May 2019.
  • The new consumer-facing online casino product was launched in the second quarter of 2019. The new casino site will cater to players looking for a fast, secure and user-friendly online casino experience, while providing Raketech with valuable data insight.
  •, a new online casino comparison website tailored for the Canadian market was launched. will provide users in Canada with a comprehensive guide to the online casino world, offering reliable product, operator and bonus reviews, as well as useful tips and news related to the online casino world.


  • No subsequent events after the second quarter.


”The second quarter has been characterized by high activity with well-performing products and high levels of traffic sent to gaming operators. I am particularly pleased that we have delivered high profitability and a strong operational cash flow, which proves the scalability of our business model and our ability to navigate and adapt Raketech’s business to the current conditions.

Revenues amounted to EUR 5.7 million during the second quarter, which is 6 percent lower than the corresponding quarter in 2018. For the period January-June, revenues amounted to EUR 12.1 million, corresponding to an increase of 11 percent compared to the first six months of the previous year. Our products are continuing to develop well, and we continue to deliver high traffic levels to our partners, which is reflected in an NDC increase of 22 percent compared to the second quarter of 2018. Adjusted EBITDA amounted to EUR 2.9 million, with a margin of 51 percent.

2018 was the year that Raketech proved its business model and proved the strength of both product and partner collaborations in the Nordic region as well as focused on listing the company. 2019 is the year when we build the foundation for our international expansion, and we have high ambitions for the future. We are constantly looking for new ways to use our expertise and optimize existing products in order to scale our portfolio, as well as to expand to new markets. We are actively looking for acquisition opportunities, and as a debt-free company we are well-positioned to acquire assets that would strengthen our operations. We are selective, but we continuously meet with interesting acquisitions targets.

In 2019, no major sporting events in par with the 2018 FIFA World Cup will take place, and with half of the year now behind us we can see that player values remain at the lower levels we noted during the first quarter. However, based on the development so far in the third quarter, our assessment is that player values will not decrease any further. We focus on driving traffic to the larger well-established operators, with whom we have strong and successful relationships. Through our scalable business model, we continue to focus on profitability going forward, in combination with the before-mentioned geographical expansion and selective acquisition strategy. I look confidently towards our future and strongly believe in our long-term strategy.”


CEO Michael Holmberg and CFO Andreas Kovacs will present the report and answer questions in an audiocast at 9.00 a.m. CET on 21 August. The presentation will be held in English and can be followed online via To participate by phone, please dial +46 8 5055 8358 (SE) or +44 3333 009 264 (UK).


Michael Holmberg, CEO,
Andreas Kovacs, CFO,

This information is such that Raketech Group Holding P.L.C. is required to publish under the EU Market Abuse Regulation. The information was submitted under the auspices of the CEO for publication at 7.00 a.m. CET on 21 August 2019. 

About Raketech Group 

Raketech is a leading online affiliate and content marketing company, specialised in comparison services for sports and gaming, online guides, communities and social media products in primarily the Nordic region and the UK. Through some 20 flagship brands, Raketech guides sports and gaming enthusiasts to the best possible services, while also delivering high-quality traffic and leads to its partners. Raketech grows both organically and via acquisitions and operates its business in accordance with a clear framework for responsible affiliate marketing services. The company’s shares are listed in Nasdaq First North Premier with ticker RAKE. Erik Penser Bank AB is the company’s Certified Adviser ( / +46 8 463 83 00). For more information, visit