RakeTech Group Sees Revenue Decrease for Q2

August 23, 2019 by

For the second half of 2019, the performance marketing specialist Raketech Group recorded a 6.1 per cent year-on-year decrease in income, although it saw decreased expenses boost its profit considerably over the era. Revenue amounted to € 5.7 million for the three months to 30 June, down from € 6.0 million in the previous year. This fall was blamed on the Swedish market’s lower player values, as well as a shift in revenue streams that saw the cost-per-acquisition (CPA) contribution deals fall 9.2 per cent to € 4.5 million.

However, this was partially offset by higher revenue share, with these agreements bringing a € 1.1 million increase over the quarter, up 8.7% year-on-year. Q2 also saw some increases as revenue was boosted by external factors such as the FIFA World Cup and the launch of Trustly’s Pay N Play on board and payment solution casinos. This did not affect the traffic supplied to customers, with fresh client deposit figures rising to 24,974, a total of 21.7 per cent.

Despite the decline in revenue in Q2, Raketech experienced a decline in costs, largely due to the previous year, including € 1.4 million in expenditures linked to its original government tender. This helped offset € 604,000 in revenue-related increases and € 907,000 in depreciation and amortization fees. Operating profit rose 29.3 per cent to € 2.0 million as a result. Finance costs fell from € 1.3 million to € 209,000 and despite higher income tax, although from a low base, net profit for the quarter increased from € 179,000 in Q2 2018 to € 1.7 million.

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