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Raketech has increased its full-year revenue guidance after the company issued a stronger than expected second quarter performance in a preliminary results update.

Building upon a 2022 that saw the company declare that it was “well positioned” to maintain its growth momentum, an update for the past quarter has subsequently resulted in a heightening of FY guidance.

Through the April to June time frame, revenue is expected to reach €17.5m, which would represent a 56.25 per cent year-on-year increase from the €11.28m reported one year earlier.

This, said Raketech, comes after a “stronger than anticipated development” that was primarily witnessed within sub-affiliation/network.

As a result, EBITDA is expected to reach €5.4m, up 45.94 per cent from €3.7m, due to the above as well as a “continuously solid performance” from the Casumba acquisition.

Alongside a quarterly notification, the company has also upgraded 12 month revenue guidance, with this now expected to fall within the €65m-€70m boundary as opposed to the previously expected €60m-€65m.

EBITDA is anticipated to come in at €23m-€25m, up from €20m-€24m, with free cash flow for 2023 expected to hit €13m-€15m, an increase from €11m-€13m previously stressed.

Earlier in the year, the company said that this would enable it “to continue to be active within the area of M&A, keep investing into organic growth while continuously also pay dividends to shareholders in line with current policy”.

The firm also previously identified three long-term growth initiatives that it intends to focus its investments into – fewer but better consumer products focusing on popular and established brands, AffiliationCloud application in an identified large and growing market, and adding affiliation to its US pickster assets. 

Raketech’s interim report for the second quarter will be published on August 17, 2023.