Aktieanalys

Raketech: No major surprises - Nordea

Nordea Publicerad: 17 Aug 2022 08:41

Raketech just released a somewhat soft Q2 report, and a decent start to Q3. Revenues came in in-line at EUR 11.3m (NDA: EUR 11.4m), with a revenue organic growth of -4% (NDA: -4%). The adj. EBITDA came in 8% soft (EUR 4.0m vs NDA EU 4.3m), corresponding to a adj. EBITDA margin of 35% (NDA 37.5%), a deviation explained by higher cost base than expected, as Raketech continues to invest heavily in future growth.

The US market now represent 12% of group revenues as activity dropped during Q2, expected to accelerate growth as activity will pick up throughout the third quarter, we argue. The management reiterate its 2022 guidance of revenues in the higher interval of EUR 50-55m for (NDA: EUR 52.1m), with an 2022 EBITDA margin in the lower interval of 40-44% (NDA: 40.6%).

Länk till analysen i sin helhet: https://research.nordea.com/api/reportfileapi?id=791851

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