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Raketech reaps rewards of strong Q2 strategy

Maximising its positive M&A strategy, Raketech has detailed revenue increase of 41.3% to €6m for Q2 of 2018.

Over this period, the company’s adjusted EBITDA also rose by 25.4%, as it reaped the benefits of the company’s acquisitions, purchasing assets such as Shogun Media Limited, as well as Mediaclever Sverige AB, which operates high-profile casino affiliates.

The results come as the firm has enjoyed a strong half to the year, with its overall revenues for the period being recorded at €10.9m, a 43.1% increase on the corresponding period.

The firm’s CEO Michael Holmberg commented on the quarterly results: “I am pleased to present a quarter with high activity levels and a continued good return from our operating model with growth within Core, Lab and M&A. Revenues for the second quarter amounted to €6.0 million, an increase of 41.3%, of which 24.5% was organic, compared with 7.7% in the corresponding period last year.

“Adjusted EBITDA amounted to €3.2 million, with an adjusted EBITDA margin of 53.7%. In June, Raketech was listed on Nasdaq First North Premier. This was a very exciting process, in which we encountered great interest in our business model and strategy. As a public company, our operations are further professionalised, and we are already seeing positive effects in conversations with both business partners and potential acquisition candidates.

“From a stock market perspective, our focus is on generating long-term shareholder value by delivering on our strategy and financial objectives. I have great faith in the continued development of Raketech’s role in the value chain, and our capabilities to be a driving force within the gaming industry. Our agenda is busy in this regard and I look forward to an intensive remainder of 2018.”

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