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Raketech posted solid results in the first quarter of 2021

Online partner and content market provider based in Malta Raketech recorded strong financial results in the first quarter of 2021, posting impressive growth mainly driven by operations in the US and Japan.

“The first quarter of 2021 is a solid quarter for Raketech. "

Oscar Mühlbach, CEO, Raketech

Year on year revenue growth

Raketech generated revenue of 8. € 279 million , increase 26. 6% year on year until the first quarter of 2020 reading 6. € 538 million while organic growth was 5,4% .

The operating revenues of casinos increased by 4,1% compared to the three-month period of the previous year, which is 82. 5% overall, while the sport was slightly elevated to 17% and other revenue streams decreased from 5% to 0,5% .

The first quarter of 2021 published a revised geographic distribution of revenues from 64. 9% all imported from the Scandinavian countries, and the rest 35. 1% from other markets, while this indicator in Q1 2020 was much more inclined in favor of the Scandinavian countries, 85. 8% down 14. 2% on other markets.

"The main drivers of growth this quarter were our efforts in Japan and the US, as well as continued strong online sales."

Oscar Mühlbach, CEO, Raketech

Revenue diversification beyond Raketech's Swedish home markets stemmed from Japan's operations, all of which key performance indicators (KPIs) On the one hand, it provided record numbers from traffic to monetization, and on the other hand, a favorable mix of Super Bowl submissions and Virginia and Michigan. Japan is responsible for 11% revenues, while the US generated more 6% , general manager of the company Oskar Mühlbach emphasized in his comments.

There were some unfavorable factors that influenced the results, Oskar Mühlbach noted pointing to "low seasonality in other markets, increased gambling tax in Denmark, Casinofeber is still lower than before and payment locks in Norway".

Increase in EBITDA and operating profit

Raketech booked profit before interest, tax, depreciation (EBITDA) in height 3 €. 205 million , increase by 22% from the first quarter of EBITDA in the amount of 2 EUR. 627 million , while the operating profit was at the level 1 euro. 561 million amounted to 14. 2% by the first quarter of 2020 reading 1 EUR. 367 million and the operating margin fell from 20. 9% in the first quarter of the preceding year 18. 9% for the reported quarter now.

"I am glad to say that the positive dynamics we showed in the fourth quarter continued in the first quarter and resulted in another stable quarter."

Oscar Mühlbach, CEO of Raketech

The profit in the first quarter of 2021 was 1.1 million euros , unchanged year on year, despite an increase in revenues and an increase in the total number of new depositing clients, from 32, 278 in the first quarter of 2020, by 39,874 in the first quarter of 2021, growth 23. 5% .

"The Raketech team is currently focusing on the ensu ring, we are maximizing the potential of the European Football Championship to be held in June, in addition to our continued efforts to ensure the achievement of strategic goals in terms of geographic expansion and commercial diversification, through research and development, and mergers and acquisitions." . "

Oscar Mühlbach, CEO, Raketech

Raketech CEO concluded his comments on the periodic report expressing his gratitude for the departure of Christian Lundberg, Chairman of the Board, who refused to be re-elected and is to be replaced by Ulrik Bengtsson .

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