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Raketech Interim report Q1 2019

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Raketech Interim report Q1 2019

 

FIRST QUARTER 2019

  • Total revenues amounted to EUR 8.7 million (EUR 4.9 million) representing an increase of 78.2%. Total revenues include other non-operating income of EUR 2.3 million (nil) related to a waived liability regarding one related party during the quarter which is recognised as other income.
  • Revenues excluding other income increased by 31.6% to EUR 6.5 million (EUR 4.9 million).
  • Organic growth amounted to 21.5% (10.2%).
  • Adjusted EBITDA increased by 38.3% to EUR 3.5 million (EUR 2.5 million), corresponding to a margin of 54.1% (51.5%).
  • Adjusted operating profit amounted to EUR 2.8 million (EUR 2.3 million), corresponding to a margin of 43.4% (47.5%).
  • Profit for the period amounted to EUR 4.7 million (EUR 0.9 million).
  • Earnings per share amounted to EUR 0.12 (EUR 0.04).
  • NDCs (New Depositing Customers) increased by 76.1% to 28,607 (16,243).

EVENTS DURING Q1 2019

  • On 4 March, the outstanding debt of EUR 7.7 million from the previous loan facility was repaid as a final step in optimising the Group’s capital structure post-IPO.
  • On 31 March, an agreement with one related party was reached to waive the amount of EUR 2,281,714. This amount is recognised as other income within the consolidated statement of comprehensive income.

SUBSEQUENT EVENTS AFTER THE END OF THE PERIOD

  • On 24 April, Oskar Mühlbach was appointed as Chief Operating Officer.
  • On 26 April, Raketech acquired the assets of the leading Finnish sport listing website TVmatsit.com for an initial purchase price of EUR 1.6 million plus an additional EUR 0.3 million payment over the next 24 months based on agreed performance targets.

CEO MICHAEL HOLMBERG COMMENTS THE QUARTER

”The beginning of the year has been characterised by the ongoing stabilisation phase in the Swedish gaming market, following the introduction of the new gambling legislation in January 2019. I am therefore happy to announce that we are delivering a good quarter and that we maintain our focus on organic growth and geographical expansion.

Revenues increased by 32 per cent compared to the first quarter of 2018, amounting to EUR 6.5 million. Adjusted EBITDA increased by 38 per cent to EUR 3.5 million, corresponding to a margin of 54 per cent. Organic growth amounted to 22 per cent of the revenues, and the key driver for this growth is higher traffic volumes, especially for our casino products and our TV sports guides.

While maintaining our position as a market leader in Sweden, we are simultaneously increasing our focus on geographical expansion. We have global ambitions and prioritise markets that are important to our partners, the gaming operators. As such, we are further strengthening our organisation for future expansion, both in terms of employees and technical platforms.

We are committed to creating sustainable growth across all of our markets – current as well as future markets. I am confident in our ability to continue strengthening Raketech’s position as a leading affiliate with innovative and responsible services high on the agenda.”

PRESENTATION FOR INVESTORS, ANALYSTS AND THE MEDIA

CEO Michael Holmberg and CFO Andreas Kovacs will present the report and answer questions in an audiocast at 9.00 a.m. CET on 22 May. The presentation will be held in English and can be followed online via https://tv.streamfabriken.com/raketech-q1-2019. To participate by phone, please dial +46 8 505 583 51 (SE) or +44 333 300 92 67 (UK).

 

About Raketech Group:

Raketech is a leading online affiliate and content marketing company, with expertise in delivering comparison services for sports and gaming, online guides, communities and social media products in primarily the Nordic region and the UK. Through some 20 flagship brands, Raketech guides sports and gaming enthusiasts to the best possible services, while also delivering high-quality traffic and leads to its partners. Raketech grows both organically and via acquisitions and operates its business in accordance with a clear framework for responsible affiliate marketing services. The company’s shares are listed in Nasdaq First North Premier with ticker RAKE. Erik Penser Bank AB is the company’s Certified Adviser ([email protected] / +46 8 463 83 00). For more information, visit www.raketech.com.

Affiliate Announcements

Tiki Taka Play Partners with NetRefer for its Affiliate Marketing Platform

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Tiki Taka Play enhances its affiliate marketing strategy by partnering with NetRefer, driving growth and engagement in the gaming industry.

Spanish online casino operator Tiki Taka Play has partnered with NetRefer, the industry’s leading data-driven, AI-powered affiliate marketing platform, to power and manage its affiliate programme as the brand continues to grow its presence in Spain’s regulated online gaming market.

First launched in early 2025, Tiki Taka Play marked a significant step in the digital expansion of Grupo Tiki Taka Games, a national company with more than 50 years of experience in the land-based gaming sector. Originally established as a family-run gaming machine business, the group has grown into a recognised operator within Spain’s leisure and entertainment industry, with operations spanning gaming halls, betting venues, and amusement activities.

With Tiki Taka Play, the group extends that experience into the digital environment. The platform has been developed to bring the standards of its land-based operations online, offering players a structured and reliable gaming experience built around accessibility, trust, and long-term engagement.

The operator’s online catalogue includes a wide selection of slots alongside classic table games such as blackjack and roulette, as well as immersive live casino experiences. This curated offering allows Tiki Taka Play to cater to a broad spectrum of player preferences while maintaining a professional and consistent gameplay environment.

Operating within Spain’s regulated gaming framework, Tiki Taka Play holds the relevant licences granted by the Dirección General de Ordenación del Juego (DGOJ). Compliance, transparency, and responsible gaming therefore, sit at the centre of the operator’s approach, reinforcing the standards that have guided Grupo Tiki Taka Games throughout its decades-long presence in the industry.

Affiliate marketing forms a central pillar of Tiki Taka Play’s growth strategy as the brand establishes its presence in the competitive Spanish online gaming market. By selecting NetRefer, the operator gains access to a platform designed to deliver performance clarity, reliable tracking, and efficient partner management. Through NetRefer’s API technology, Tiki Taka Play benefits from seamless data transfer and real-time integration, allowing the operator to manage affiliate data accurately while maintaining operational efficiency across its programme.

Beyond these integrations, NetRefer’s broader ecosystem provides additional capabilities designed to support affiliate programme performance at scale. Solutions such as NetRefer BI Analytics enable advanced and customisable reporting, while NetRefer CoPilot AI enhances access to performance insights and operational knowledge through intelligent, data-driven assistance.

Reflecting on the process of selecting an affiliate platform, Marc De Rueda Colomés, COO of Tiki Taka Play, said, “When preparing the launch of Tiki Taka Play, we spoke with a number of our affiliates to understand which platforms they trusted most. NetRefer consistently stood out as one of the most balanced solutions in terms of service and value. The platform’s reporting and analytics tools are already proving valuable for our team, and the professionalism and dedication shown by the NetRefer team from the beginning of our collaboration have reinforced our confidence in the partnership.”

Greice Bezerra, Regional Acquisitions Specialist at NetRefer, commented, “Tiki Taka Play’s partnership with NetRefer represents an exciting step in the digital evolution of Grupo Tiki Taka Games. We’re proud to support their team with reliable technology and flexible integrations that provide the transparency, performance insights, and operational confidence needed to build and scale a successful affiliate programme in the competitive Spanish online gaming market.”

As Tiki Taka Play continues to expand its presence in Spain’s regulated online gaming market, the partnership with NetRefer provides the technology and operational foundation needed to support the growth of its affiliate programme. With greater performance visibility, advanced reporting capabilities, and scalable affiliate infrastructure, the operator is well-positioned to strengthen its partner network and drive sustainable digital growth.

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N1 Faces: Shirin Mammadov — Building Trust That Drives Performance

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Growth in affiliate marketing is easy to promise — much harder to sustain. Real long-term results are built on consistency, clear communication, and relationships that can withstand market shifts, changing traffic sources, and rising competition.

In the new episode of N1 Faces, the N1 Partners team introduces Shirin Mammadov, Senior Affiliate Manager — a specialist focused on building structured, trust-based collaboration with partners. In this interview, Shirin shares how he entered the industry, what principles guide his work today, and what it takes to maintain performance and clarity in a high-pressure environment.

Shirin Mammadov

Senior Affiliate Manager, N1 Partners

How did you get into affiliate marketing, and when did you realize this was the field you wanted to grow in?

It started unexpectedly. At the time, I was running our own startup and wasn’t actively looking to move into affiliate marketing. The industry felt fast-paced, competitive, and performance-driven — exactly where I thrive. I’ve always enjoyed communication, negotiations, and building relationships, and affiliate marketing combines all of that. After some time in the role, I realized this wasn’t just a temporary step — it was a field where I could grow and challenge myself long term.

What brought you to N1 Partners, and what was the deciding factor?

Before joining N1 Partners, I was on the affiliate side, and N1 was one of my partners. From the start, the relationship with the team was transparent and professional. I saw their structured processes and strong performance mindset, but also a genuinely friendly atmosphere.

When I decided to move forward in my career, the key factor was trust. I already knew their standards and approach to growth. It wasn’t a risky move — it was a strategic one. I wanted to join a company I respected and where my affiliate-side experience could add real value.

What advice would you give your first-month self as an affiliate manager?

I would tell my first-month self to focus less on trying to prove myself immediately and more on deeply understanding the product, numbers, and traffic quality. Building strong partnerships takes time, and trust is more important than quick deals. I would also remind myself to ask more questions and not be afraid to challenge assumptions. The faster you understand the bigger picture, the faster you grow.

When do you know a partner will become a long-term relationship rather than a one-off deal?

You can usually see it from the very first conversations. If a partner is transparent about their traffic sources, open to feedback, and interested in continuous optimization rather than just the highest CPA, that’s a strong sign. Long-term partners think about strategy, testing, and growth — not just short-term profit. When there is mutual trust and aligned goals, it naturally turns into a sustainable relationship rather than a one-off deal.

How do you separate “normal volatility” from a real problem when you look at performance reports?

I separate normal volatility from a real problem by looking at trends over time rather than reacting to a single day’s numbers. Small fluctuations are normal, but consistent drops, unusual patterns, or deviations from historical performance are red flags. I also consider external factors, like seasonality or campaign changes, before jumping to conclusions. Once a pattern looks concerning, I dig into the data and communicate with the partner to identify the root cause.

Was there a time when the right communication truly “saved” a partnership? What did you do differently?

Yes, there was a situation where a partner was underperforming and frustrated with their results. Instead of focusing on numbers alone, I scheduled a direct conversation to understand their concerns and listen carefully. By aligning on goals, explaining the strategy, and suggesting practical adjustments, we rebuilt trust and improved performance together. It showed me that proactive, transparent communication can turn a challenging situation into a stronger, strategic partnership.

Do you have a personal motto? Sum yourself up in one sentence.

Work smart, communicate clearly, and always aim for long-term results

What helps you stay balanced and clear-headed during high-pressure periods? 

I stay balanced by keeping active and making sure I move my body, whether it’s at the gym or just staying consistent with workouts. I also make a point to disconnect from work for short periods, which helps me reset and approach challenges with a clear mind. Planning my day carefully and focusing on one task at a time keeps stress manageable. This combination of physical activity and structured focus helps me stay calm and effective under pressure.

If you weren’t in iGaming …  

If I weren’t in iGaming, I think I’d be a seaman. I’ve always been drawn to the sea – the challenge, the adventure, and the discipline it requires really appeal to me. In a way, both paths share the same mindset: staying focused, navigating uncertainty, and taking responsibility for outcomes.

Top-3 Blitz

What are the biggest red flags in leads — and what do you do when you see them?

  1. Unclear traffic sources — I ask detailed questions and request transparency before moving forward.
    2. Inconsistent performance — I monitor closely and set clear KPIs to track improvements.
    3. Lack of communication or responsiveness — I address it directly, set expectations, and decide if the partnership is worth continuing.

From an affiliate’s perspective, what matters most in an affiliate program?

1.Timely and transparent payments — affiliates need confidence in accurate, on-time payments.
2.Clear communication and support — being able to get answers, guidance, and updates quickly is essential.
3.Opportunities for growth — competitive offers, performance incentives, and tools that help them scale traffic effectively.

Name the tools you can’t imagine an affiliate manager working without.

  1. CRM / Affiliate tracking platforms — to monitor performance, track partners, and analyze data accurately.
    2. Spreadsheet & analytics tools — for performance analysis, trend spotting, and making data-driven decisions.
    3. Communication tools — email, chat, and video calls to maintain strong partner relationships.

Join N1 Partners

Partners who want to discuss a launch, explore tailored terms, or test an offer can reach out to Shirin directly.

N1 Partners provides everything affiliates need to stay ahead: high-converting products, ongoing analytics with optimization recommendations, and hands-on support from managers focused on long-term performance.

N1 Partners is more than an affiliate program. As a multi-brand affiliate platform and direct advertiser, the company unites 14+ casino and betting brands, operates across Tier-1 GEOs, delivers Reg2Dep rates of up to 70%, and offers competitive deals for top partners — CPA up to €700 and RevShare up to 45%. Trusted by 14,000+ partners, N1 Partners is recognized for its transparency, flexibility, and partner-first approach — where people and communication quality remain the foundation of long-term success.

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LEON Esports Expands its Partnership with GamerLegion to Include a Dota 2 Team

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Online casino and sportsbook LEON has expanded its partnership with the esports organisation GamerLegion to include the team’s Dota 2 roster.

LEON already sponsors GamerLegion’s Counter-Strike 2 team, and the new agreement marks the next step in the brand’s growing LEON esport direction.

GamerLegion’s North American Dota 2 squad was formed in late 2025 and played its first official match on November 15th. The team is currently ranked around #17 in the world and has already taken part in major tournaments such as PGL Wallachia, DreamLeague and BLAST Slam.

As part of the expanded partnership, LEON and GamerLegion will launch exclusive giveaways, fan activities and joint content for the esports community, continuing to build engagement around both teams.

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