November 15, 2023 – Raketech Group Holding Plc (Nasdaq: RAKE), today announced the third quarter interim report in line with the increased trading update from July 24th with a total revenue of EUR 21.5 million and an organic growth of 66% Y/Y, adjusted EBITDA grew by 16.5% Y/Y to EUR 5.6 million. The company is expected to close 2023 in line with previously increased guidance of EBITDA at EUR 23-25 million as well as net cash flow in the interval of EUR 13-15 million, while beating guidance with regards to revenue of EUR 65-70 million.
“We are pleased to report another strong quarter, in line with the updated trading guidance for 2023. The team reached an all-time high in revenue performance and organic growth and a solid EBITDA, supported by the strong demand for our infrastructure solutions in Sub-Affiliation, and complemented by stable growth at higher margins in our core segment Affiliation Marketing,” says Oskar Mühlbach, CEO of Raketech.
Q3 2023 FINANCIAL HIGHLIGHTS
- Q3 of 2023 reached an all-time high in terms of revenues, totaling EUR 21.5 million (EUR 13.0 million) with an organic growth of 65.8% (14.2%).
- Adjusted EBITDA grew by 16.5% Y/Y to EUR 5.6 million, driven by strong development in Casumba, part of our Flagship strategy, and significant growth within sub-affiliation.
- With three solid quarters behind us, we expect to comfortably close 2023 in line with our previously increased guidance of EBITDA at EUR 23-25 million as well as net cash flow in the interval of EUR 13-15 million, while beating guidance with regards to revenue of EUR 65-70 million.
- Adjusted Operating profit amounted to EUR 2.3 million (EUR 2.9 million), impacted by increased non-cash affecting amortisation following adjustments attributable to amounts committed on acquisitions relating to Casumba.
- The calculation period for the largest share of the contingent consideration relating to the acquisition of Casumba is coming to an end in December this year, which means that we can, with a high degree of certainty, determine the majority of the earnout.
SUBSEQUENT EVENTS AFTER THE END OF THE PERIOD
- Revenues in October 2023 amounted to EUR 7.7 million (EUR 5.0 million)
Read the full report at: https://raketech.com/investors/
REPORT AND PRESENTATION
CEO Oskar Mühlbach and CFO Måns Svalborn will present the report in a conference call at 09:00 CET.
- Business update by CEO Oskar Mühlbach
- Financials Q3 2023 by CFO Måns Svalborn
- A detailed plan regarding earnouts in Casumba
- Key takeaways
The presentation can be followed via both a conference call and an online audio cast, including a Q&A session open to all listeners at the end of the presentation.
If you wish to participate via webcast, please use the link below. Via the webcast you are able to ask written questions.
If you wish to participate via teleconference, please register on the link below. After registration, you will be provided with phone numbers and a conference ID to access the conference. You can ask questions verbally via teleconference.