Raketech Group Holding Plc · OMXSTO:RAKE
Raketech — Q2 2021 Earnings Presentation
22 slides from Raketech's earnings presentation, August 2021
Slide 1: Q2 Report Presentation
RAKETECH Q2 Report Presentation
Slide 2: Presenters
Presenters Oskar Mühlbach Måns Svalborn Chief Executive Officer Chief Financial Officer
Slide 3: Agenda
3 Agenda 01. Highlights 02. Financials Q2 2021 03. Key takeaways 04. Q&A
Slide 4: Q2 Financial highlights
4 Q2 Financial highlights • • Revenue All Time High Stable general performance 8.8m 3.4m • Sports uplift late June thanks to the EUROs REVENUE EBITDA • US decline QoQ (expected after strong Q1) • Japan and Network going strong Y +25.0% Y +20.1% Q +6.0% Q +5.9% • OUTLOOK July - revenues EUR 2.9m • DE
Slide 5: Q2 Operational highlights
5 Q2 Operational highlights • • ATH Non-Nordic share First Free2Play offering try-outs 39% EUR 15m Non-NORDIC RCF Revenues outside of the 4.25% interest rate when • New and increased RCF Nordics grew to 39% from utilized, 12 months • QM Media acquisition 35% previous quarter and contract with potent
Slide 6: Acquisitions - highlights
6 Acquisitions - highlights +1.2m +5m Basics REVENUE Basics REVENUE • Casino affiliation • Sports affiliation and tipster subscriptions • Spain, Italy, Portugal, LatAm • US, Nordics, India • Positive effect on group margin • Positive effect on group margin • Positive cash flow effect +70% • Positive
Slide 7: Acquisitions – group effect
7 Acquisitions – group effect +4% +25% Wide and INCREASED solid geo SPORTS SHARE MARGIN footprint Significant M&A as 8-12% +45% growth revenues US NON-NORDIC from the accelerator USA
Slide 8: Financials Q2 2021
8 Financials Q2 2021
Slide 9: Revenue development
9 Revenue development +25% 10,000 9,000 • Revenues at a new all time high 6% 8,000 15% -2% • Still big in Japan 7,000 9% 5% • EURO 2020 increased activity 16% 7% 6,000 -15% 12% • Slower sporting calendar in the US 23% 5% -2% 5,000 -12% • Network sales continued strong (just 4,000 16% -7% 7% above 25
Slide 10: Q2 2020 vs. Q2 2021
10 Q2 2020 vs. Q2 2021 mEUR 10 9 8.8 • Revenues increase with organic 8 +25% growth 7.0 7 • Improved EBITDA with wider product 6 mix and geo footprint 5 • Net profit impacted by non-cash 4 affecting amortization 3.4 3 2.8 • prudent approach to ensure +20% fair value of Intangible assets Amortization
Slide 11: NDC development
11 NDC development • Effects from Swedish re- regulation stabilizing • Growth outside of Nordics • Disposal Finance Vertical 60,000 • Seasonality and google core Largely an effect of the update effects Swedish re-regulation • Fewer but higher value FTDs in US and Japan 50,000 • US seasonality effect
Slide 12: Revenue split
12 Revenue split 1% 15% (Y3%) 16% (Q1%) (Y8%) (Y13%) 39% (Q17%) (Q17%) (Y19%) (Q35%) GEOGRAPHICAL REVENUE SPLIT VERTICAL SPLIT 41% SPLIT (Y44%) (Q40%) 61% 43% (Y81%) 84% (Y43%) (Q65%) (Y89%) (Q43%) (Q82%) REVENUE SHARE CPA FLAT FEE CASINO SPORTS OTHERS NORDICS OTHER MARKETS
Slide 13: EBITDA to net profit bridge Q2
13 EBITDA to net profit bridge Q2 • The only item affecting cash flow relate to interest expense of EUR 0.05m 1,239 • Depreciation amounts to EUR 1.8m for the quarter
Slide 14: Statement of financial position
14 Statement of financial position BALANCE SHEET | 30 June 2021 • Total assets amounted to EUR 93m, consisting mainly of Intangible assets Equity • Adjustment of earnouts, EUR 1.0m Fixed assets EUR 73.2m • Amortizations, EUR 1.8m EUR 82.8m • Cash and Cash equivalents amounted to EUR 5.5m at the end
Slide 15: Cash flow bridge Q1 2021 vs Q2 2021
15 Cash flow bridge Q1 2021 vs Q2 2021 Net cash from operations Cash flow from investing activities Cash flow from financing activities 5,467 2 4,024 3 1 1 2 3 Strong operational cash flow Non-recurring annual Earnouts relating to CasinoFeber driven by higher profitability accrual settled in Q2 and
Slide 16: EBITDA-margin Q2 2020 vs. Q2 2021
16 EBITDA-margin Q2 2020 vs. Q2 2021 38.7% 3 3 2 1 1 2 3 Growth in lower margin Scalable and EBITDA Scalable as well as representing a Network sales margin improves with shift from employees to contractors increased revenues
Slide 17: EBITDA-margin Q1 2021 vs. Q2 2021
17 EBITDA-margin Q1 2021 vs. Q2 2021 38.7% • Adjusted EBITDA-margin of 43% in 3 3 July 2 1 • An effect of a relative increase for higher margin products • Non-recurring acquisition related transaction costs of EUR 0.3m in Q3 1 2 3 Growth in lower margin Scalable as revenues grow In line with Q1 Netw
Slide 18: Key takeaways
RAKETECH Key takeaways
Slide 19: Key takeaways
19 Strategic goals ◉ Presence on 3 continents Key takeaways ◉ 4-5 Flagship assets ◉ 4-6 product categories ◉ <60% from single vertical Financials Outlook and way forward • Revenues of EUR 8.8m, which is all time high • 25% growth YoY and 6% QoQ • July revenues EUR 2.9m • Organic growth 25.7% YoY • S
Slide 20: Q&A
RAKETECH Q&A 20
Slide 21: www.raketech.com
www.raketech.com
Slide 22: Thank you!
RAKETECH Thank you!
Raketech Group Holding — Q2 2021 Earnings Presentation on 6ix