Raketech has reported increased revenues and continued organic growth, which the online gaming affiliate and content marketing company attributes to capitalising on existing assets.
Revenues for Q3 2018 increased by 42.3 per cent to €7.0m (Q3 2017: €4.9m), with organic growth at 28.6 per cent (32.6 per cent). Adjusted EBITDA was up 45.2 per cent to €4.1m (€2.8m), corresponding to a margin of 58.7 per cent (57.1 per cent); adjusted operating profit was €3.7m (€2.6m), with a margin of 52.4 per cent (53.6 per cent).
Profit for the period amounted to €1.7m (€1.6m) and new depositing customers increased by 49.0 per cent to 26,837 (18,010). During Q3, interest-bearing liabilities of €15m were repaid to Ares Management and Raketech announced a new partnership with Sper to reinforce responsible affiliate marketing efforts in Sweden.
The earn-out conditions related to casino affiliate site Casinofeber.se were amended in September and the earn-out period extended until 2023. Management’s best estimate of the outstanding earn out liability amounts to €9m.
“Over the past couple of years, we have invested in building a scalable business model,” said Raketech’s CEO Michael Holmberg. “We have developed new technical platforms and data analysis tools, and we see it starting to pay off.
“With this foundation, we are not only well-equipped to grow our existing products in Raketech Core, but we are also in an excellent position to innovate and roll out new products from Raketech Lab (new innovative services built in-house or via partnerships).”
