Affiliate group Raketech said growth in its core affiliation marketing segment helped drive revenue up 24.4% to a record €15.8m (£13.7m/$17.3m) in the first quarter of 2023.
Revenue Reaches Record €15.8m At Raketech In Q1
During the three months to 31 March, Raketech said it continued to pursue its strategy for profitable growth across affiliation marketing, as well as its sub-affiliation, and betting tips and subscriptions segments.
Revenue Reaches Record €15.8m At Raketech In Q1
While the latter experienced a decline in revenue, growth across the two other segments meant revenue for the whole group was up year-on-year, with the business on track to achieve its full-year guidance.
Revenue Reaches Record €15.8m At Raketech In Q1
Excluding acquisitions, revenue is expected to reach between €60.0m and €65.0m, while earnings before interest, tax, depreciation and amortisation (EBITDA) is forecast to be in a range of €20.0m to €24.0m.
Revenue Reaches Record €15.8m At Raketech In Q1
“The strong result was mainly generated within our core, high margin segment, affiliation marketing,” Raketech chief executive Oskar Mühlbach said. “Based on the successful start of the year, we remain confident around our full year guidance.
Revenue Reaches Record €15.8m At Raketech In Q1
“Considering the strong start of the year, we are confident reiterating our previously communicated revenue guidance for the full year.”
Revenue Reaches Record €15.8m At Raketech In Q1
Results
Breaking down segmental performance in Q1, affiliation marketing revenue was 31.9% up year-on-year to €10.8m, representing 68.1% of all revenue. Raketech noted “exceptional” results from the Rest of World market, driven by Casumba and OnlineCricketbetting, while its flagship assets in the Nordics also delivered in line with expectations.
Revenue Reaches Record €15.8m At Raketech In Q1
Sub-affiliation revenue also increased 46.3% to a record €2.6m, with the majority of growth attributed to strong results from network sub-affiliation in South America. This area of the business accounted for 22.7% of total revenue in Q1.
Revenue from betting…
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