|
40000 39874
0
|
35000 |
Q119 |
Q219 |
Q319 |
Q419 |
Q120 |
Q220 |
Q320 |
Q420 |
Q121 |
Q119 |
Q219 |
Q319 |
Q419 |
32278
Q120
|
Q220 |
Q320 |
Q420 |
Q121 |
||
|
30000
Source : company
28607 reports
25000
24974
Source : company reports
|
26782 |
28002 |
||||||||
RAKETECH TURNAROUND TIME
Raketech has returned to a solidly progressive revenue path . Revenues were up 26.6 % to € 8.3m in the first three months of the year , 5.4 % of which was organic growth versus a minus 10 % comparator . The only slight negative was that quarter-on-quarter revenues were down slightly . After period close , the company noted that April revenues rose 16 % to € 2.8m .
The number of new depositing customers increased 23.5 % year-on-year to 39,874 but as can be seen , this is the second consecutive fall in NDCs , albeit from a record high in the third quarter of 2020 .
EBITDA was up 22 % to € 3.2m for an EBITDA margin of 38.7 % ( 40.2 % Q120 ). The quarterly profit figure was € 1.1m .
The casino vertical generated the majority of Raketech ’ s revenue at 82.5 %, up 4.2 %, with sports betting amounting to 17 % of revenue .
|
Chart 22 : Raketech revenue progression Q119-Q121 (€ m )
£ m
8.5
8.0
7.5
7.0
6.5
6.0
6.45
5.7
6
Q119 Q219 Q319 Q419 Q120 Q220 Q320 Q420 Q121
Chart 23 : Raketech NDCs Q119-Q121
55000
50000
45000
40000
35000
30000
25000
20000
15000
10000
5000
0
28607
24974
26782
5.9
28002
6.5
32278
Q119 Q219 Q319 Q419 Q120 Q220 Q320 Q420 Q121
7
40847
7.4
52344
8.5
46389
8.3
39874
|
Source : Company reports |
0Source : company reports 1.6
1.5 Q119 Q219 Q319 Q419 Q120 Q220 Q320 Q420 Q121
1.0
Source : company reports
0.5
product (%) 0
Chart 25 : Raketech Q121 revenue by Q119 Q219 Q319 Q419 Q120 Q220 Q320 Q420 Q121
Other 1 %
product (%) Sport 17 %
Chart 25 : Raketech Q121 revenue by product (%)
Source : company reports
Other 1 %
Chart 25 : Raketech Q121 revenue by
Sport 17 % product (%)
Casino 82 %
Source : company reports Casino 82 %
Chart 26 : Raketech revenue by geography Q120-Q121 (%)
Source : company reports
Chart 26 : Raketech revenue by geography 86 14Q120-Q121 (%) Q420 Q320 Q220 Q120
Chart 25 : Raketech Q121 revenue byChart 26 : Raketech revenue by geography Q120-Q121 (%) Q120
Q220
Q320
Q420
Q121
19
75
Nordics (%) Others (%) 25
81
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The group diversified its regional focus : revenues from the Nordic region dropped 21 % to 65 % and revenues from other markets increased 21 % to 35.1 %, with Japan and the US performing strongly during the period .
EASTERN EYE
The fact that non-Nordic revenue increased to 35 % of total revenues , an all-time high , showed a significant move in the company ’ s drive to diversify away from its home markets . Japan , in particular , is the standout now , representing 11 % of the total . On the earnings call , chief executive Oskar Mühlbach said of Japan that it was “ a very interesting market ”, adding , “ We would expect doubledigit growth in Japan for the foreseeable future .”
As for elsewhere , the company said the US openings in Michigan and Virginia “ significantly pushed the needle ”. This partly offset the issues in Denmark and Norway , with payment blocking being the issue in the latter case .
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