Raketech ‘geographically, technically & organisationally’ poised for growth

Raketech is looking to increase its investments within the igaming affiliation space through the coming year, after asserting that it has “continued to deliver” on strategic goals of increasing the diversification of the business.

This comes as the group reflects on its performance through 2021’s full-year and final quarter, the latter of which saw revenue increase 40 per cent to €11.84m (2020: €8.46m) 

This, in part, is driven by the impact of recent acquisitions as well as a positive development across European casino and US sports asserts.

Casino revenue through Q4 increased 27.7 per cent to €9.22m (2020: €7.22), while US purchases saw sports surge 149.5 per cent to €2.6m (2020: €1m). 

New depositing customers declined 11.7 per cent, which, Raketech says, is an effect of the company actively targeting fewer but higher value leads. Non-Nordic revenue rose 154.6 per cent to total €5.5m (2020: €1m).

Standard EBITDA climbed 49.5 per cent to €5.4m (2020: €3.6m), which is aligned to higher revenues through organic growth in new product categories and geographical expansion, as well as M&A activity.

For the full-year, revenue secured a 31 per cent uptick to close 2021 at €38.5m (2020: €29.4m), with standard EBITDA up 34.2 per cent to €16.15m (2020: €12m) as outlined above.

Casino revenue increased 25.9 per cent to close at €31.49m (2020: €25m), while sports climbed 103.1 per cent to finish up at €6.89m (2020: €3.39m).

NDC’s during the year dropped 10.8 per cent, however, Raketech adds that the comparison is skewed due to consumer finance assets that were sold in 2020 as well as the introduction of Swedish temporary gambling restrictions.

“The fourth and final quarter of 2021 was a strong quarter for Raketech, and I am happy to see that we have continued to deliver on our strategic goals of increasing the diversification of our business,” stated Oskar Mühlbach, Raketech chief executive officer.

Adding: “January set yet another record with revenues amounting to €4.5m with recent US acquisitions fully accounted for. We expect US revenues to reach up to 20 per cent of total already in Q1, consequently increasing our footprint outside of our Nordic core markets even further, while also increasing sports share of total. 

“With that said, Raketech is geographically, organisationally and technically well positioned in the global igaming affiliation space and I look forward to using this opportunity to increase investments into growth in 2022. 

“The strategically important goals, as set in early 2020 relating to diversification within verticals, technology and geography are essentially delivered and with local resources in place in the US, strong assets on growth markets such as in southern Europe, South America, Canada and India I believe we have a solid growth platform to build on.”