Raketech just released super solid set of Q1 numbers, and a better than expected start to the second quarter. Revenues came in 15% ahead of our expectations at EUR 15.8m (NDA: EUR 13.8m), with a revenue organic growth of 24% (NDA: 17%). The adj. EBITDA came in 23% above our estimate (EUR 6.1m vs NDA EUR 5.0m), corresponding to a adj. EBITDA margin of 38.7% (NDA 36.0%), with slightly higher than expected direct cost and other operating expenses, likely owning to the stronger than expected sales. The US market now represent 12% of group revenues (Q4: 15%), as the US sporting calendar softened from mid Q1 and somewhat unfavourable sporting results. Raketech reiterate its guidance of revenues in the interval of EUR 60-65m for 2023 (NDA: EUR 61.8m), with an EBITDA of EUR 20-24m (including EUR 2m in non-recurring items), versus Nordea at EUR 22.1m.
LÄS MER