TRIQ I-IMSIDA IL-GZIRA, MALTA / ACCESS Newswire / February 4, 2025 / Raketech (STO:RAKE) Raketech Group Holding PLC today announces a non-cash intangible assets impairment charge of EUR 48.5 million and a trading update for the fourth quarter of 2024.
Revenues in Q4 2024 are expected to amount to EUR 12.3 million (EUR 22.8 million), with an adjusted EBITDA of EUR 3.2 million (EUR 6.0 million), slightly ahead of Q3 2024 and in line with previously updated guidance. Reported EBITDA is expected to amount to EUR 3.0 million (EUR 6.0 million).
Following last year's operational review, Raketech has continued to optimise its portfolio with a dedicated focus on core products ensuring resources are allocated to its most strategic areas. As a result, a non-cash impairment charge of EUR 48.5 million will be recognised in the fourth quarter of 2024, relating primarily to a reduction in the intangible book value of non-core assets acquired pre-IPO. This reassessment reflects the group's proactive approach to navigating a changing operating environment whilst committing to delivering sustainable growth and value creation.
Raketechs year-end report for 2024 will be published on February 19, 2025.
For more information, please contact:
investor@raketech.com
This information is information that Raketech is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-02-04 21:00 CET.
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. 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 Growth Market with ticker RAKE. Carnegie Investment Bank AB (publ) is the company's Certified Adviser. For more information, visit www.raketech.com.
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Raketech announces a non-cash intangible assets impairment charge and preliminary Q4 2024 trading update
SOURCE: Raketech
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