Raketech Q4 revenue hits all-time high of €11.8m
Affiliate reports strong performance in final quarter of 2021 helped lift full-year revenue to €38.5m
Raketech posted record-high revenue for the fourth quarter of 2021, totalling €11.8m (£9.9m), which was a 40% year-on-year (YoY) increase on the €8.5m from the same period in 2020.
These figures contributed to overall organic growth of 12.5% and an adjusted EBITDA of €5.4m, up almost 50% from €3.6m in Q4 2020, which corresponds to a margin of 46%.
There were many other positives for the Malta-based affiliate in Q4 with US acquisitions increased sports revenue to €2.6m, which represents an increase of 149.5%. Raketech also saw non-Nordic revenue increase by 154.6%, totalling €5.5m.
Raketech also provided its full-year financial results, reporting €38.5m of revenue, a 31% increase on the €29.4m posted in 2020.
Casino, which accounted for 82% of the company’s 2021 income, generated €31.5m of revenue, while sports betting (17.9%) achieved revenue of €6.9m throughout the year. Sports betting’s contribution leapt 150% YoY in Q4 alone.
In 2021, Raketech’s expenses increased by 29% to €8m, but this still left the affiliate with a pre-tax profit of €3.1m, up by 34.8% from 2020.
In terms of operational highlights for the quarter, Raketech acquired US tipster asses A.T.S Consultants, which provide pre-game insights for sports. The foundation was also laid for future US expansion by establishing a US business unit, which a local MD will lead.
Commenting on the results, Raketech CEO Oskar Mühlbach said: “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.
“Revenues amounted to €11.8m, which is a new alltime high for the group, representing an annual growth of 40% whereof 12.5 percentage points were organic.”
These kinds of numbers left Mühlbach optimistic for the upcoming year. He 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.”
Heading into 2022, January proved to be a positive month for the firm, with revenue up 66.7% YoY, reaching a record €4.5m.
At the time of writing, Stockholm-listed Raketech’s share price was up 1.37%, sitting at SEK25.95 (£2.06).