Online affiliate and content marketing specialist Raketech reported a second quarter of growth, increasing the number of new depositing customers by almost two-thirds.
Revenues for Q2 2020 totalled €7m (Q2 2019: €5.7m), an increase of 24.1 per cent, while NDCs totalled 40,847 (24,974), up by 63.6 per cent.
EBITDA stood at €2.8m (€2.9m), at a margin of 40.2 per cent (51.1 per cent) and operating profit was €1.5m (€2m), corresponding to a margin of 21.8 per cent (35.1 per cent).
Oskar Muhlbach, Raketech’s CEO, said: “The strong operational development for Raketech continued during the second quarter of 2020 with several initiatives launched and improved, resulting in a stable product portfolio performance for the quarter.
“Revenues for July amount to €2.4m, despite sports still trailing behind due to Covid-19. Activity was high, following the temporary re-regulations on the Swedish market. Despite us significantly increasing our revenues from outside the Nordics to close to 20 per cent, the volatility on the Swedish market due to the re regulations makes it challenging to navigate. Although volatility might be high, I am excited by the combination of Raketech being both debt free and operationally stronger than ever. This allows us to continue our efforts to deliver on our strategic goals within product development and diversification as well as geographical expansion, organically and through M&A.”
