Raketech set revenue records in forth-quarter
Raktech has reported revenues of EUR 11.8 million (EUR 8.5 million). US acquisitions increase sport revenues to EUR 2.6m (EUR 1.0m), representing an increase of 149.5%. Non-Nordic revenues increase with 154.6%, totalling EUR 5.5 million (EUR 2.1 million).
Adjusted EBITDA amounted to EUR 5.4 million (EUR 3.6 million), corresponding to a margin of 46.0% (43.1%).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 EUR 11.8m, which is a new all-time high for the group, representing an annual growth of 40% whereof 12.5 percentage points were organic.
Thanks to benefits of scale, our EBITDA increased to EUR 5.4m, corresponding to a growth of 50% and an EBITDA margin of 46%.
Sports revenues continued to increase as share of total, primarily driven by recent acquisitions. Sports increased by 10 percentage points to 22 % of the group total, which in absolute terms corresponds to a growth of 150% year over year. Revenues from outside of the Nordics during Q4 represented 46% of total, compared to 25% same quarter previous year, corresponding to an absolute growth of 155%.
During Q4, our US revenues came in close to 10% of group total. Worth pointing out in this context is that with the addition of acquired key assets on the US market, we now also have a significant share of group total represented by end-user subscriptions. These revenues represented close to 6% of the group’s total and is expected to increase going forward, considering that our latest US acquisition was only accounted for as from mid/early December.
During the last months of the year, much of our focus was directed towards integration of recent acquisitions. Besides creating processes and procedures for global controlling, reporting, administration, technology, and development, we also laid the foundation for future US expansion by establishing a proper US business unit. This means that we now have a local US Managing Director as well as other key management functions within Sales and Product needed to start building a stronger local presence. With support from our central teams within tech and development, BI and analytics, CRM and marketing tech, we aim to increase US growth investments.
We expect this setup to give us local commercial and product edge, as well as benefits of scale as we use global standards, platforms and systems to maximize efficiency across the group. On this theme we have, during Q4 continued to implement traditional affiliation on our subscription/pickster assets in the US, which we look forward to increasing investments into even further during 2022, as the results are encouraging.