Sportradar Group Returns To Profit In Q4, To Repurchase $200 Mln Of Shares; Stock Up

(RTTNews) - Sportradar Group AG (SRAD), a sports technology and related equipment provider, on Wednesday reported a swing to profit for the fourth-quarter, compared to the prior year loss, reflecting an increase in revenue, driven by a growth across all segments.

For the three-month period, the Group reported a net profit of 22.887 million euros, compared with loss of 33.283 million euros, posted for the same period last year.

Pre-tax profit stood at 24.214 million euros as against loss of 30.096 million euros in 2022.

Excluding items, EBITDA rose to 39.5 million euros from 35.1 million euros a year ago.

Revenue was at 252.586 million euros, higher than previous year's 206.288 million euros.

The Board has approved a $200 million share repurchase. The Group expects commencing purchases under the program when the next trading window opens, which is following the reporting of its first-quarter earnings results.

Looking ahead to the full year, the company expects adjusted EBITDA of at least 200 million euros with a margin of around 19 percent. Annual revenue is projected to be at least 1.050 billion euros.

For the full-year2023, Sportradar registered adjusted EBITDA of 166.8 million euros, with a margin of 19 percent, on revenue of 877.6 million euros.

SRAD was trading up by 8.03 percent at $10.90 in the pre-market trade on the Nasdaq.