Affiliate Industry

Raketech Issues Trading Update for the Second Quarter 2023 and Upgrades Guidance for FY 2023

Published

2 years ago

July 26, 2023

George Miller

Raketech’s Board of Directors withdraws dividend proposal

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Raketech Group Holding p.l.c. issued preliminary results for the second quarter and revised its guidance for the full year 2023.

Revenues for the second quarter of 2023 are expected to reach EUR 17.5 million, following a stronger than anticipated development primarily within Sub-affiliation/Network.
EBITDA is estimated to increase to approximately EUR 5.4 million for the quarter as a consequence of the strong Sub-affiliation/Network revenues, coupled with continuously solid performance from the previous Casumba acquisition.

As a result, the company has decided to upgrade its full year guidance.

Revenues, excluding acquisitions, are expected to amount to EUR 65-70 million, up from EUR 60-65 million.
EBITDA is expected to come in between EUR 23-25 million, up from EUR 20-24 million.
Free cash flow for the full year is expected to increase to EUR 13-15 million, up from EUR 11-13 million.

The abovementioned figures are estimates and have not been reviewed by the Company’s auditor. Complete information will be reported in connection with Raketech’s interim report for the second quarter, which will be published on 17 August 2023.

Related Topics:Raketech

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George Miller

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.