Raketech sets new revenue record in Q1 2023
Raketech has recently published its first quarter financial analysis, which has shown a healthy period of expansion for the firm.
The company made 15.7 million euros in revenue in the period, which is over 24% higher than its Q1 2022 revenue of 12.7 million euros. This makes up for an organic growth rate of 17%, as Raketech’s revenue grew by less than 7% between Q1 2021 and Q1 2022. Its EBITDA went up by a similar margin, going from 5 million euros to 6.1 million euros, which is an increase of 20%.
Raketech’s operating profit was up by nearly 20% as well, going up from 3.2 million euros to 3.8 million euros. Its profit margin, on the other hand, didn’t increase by a lot, going from 17.7% to 17.9%.
Breaking down the figures by the firm’s divisions, its core affiliation business led in terms of revenue, generating over 10.7 million euros in the period. This was followed by Raketech’s sub-affiliation operations, which made just under 3.6 million euros, and miscellaneous operations, such as wagering tips and subscriptions, which made 1.4 million euros.
In terms of growth, the company’s core division grew the most in comparison to the same period last year at 68%. Similarly to the firm’s revenue statistics, it’s sub-affiliation and miscellaneous operations took second and third place again, growing by 22% and 9% respectively.
The majority of Raketech’s revenue originated from its international operations, which made over 7.5 million euros for the company and expanded the most year-over-year at 48%. The Nordic region was up next, generating 5.7 million euros in revenue, followed by the United States and Europe (excluding the Nordic region), which made 1.9 million and 568 thousand euros respectively.