Sportradar To Streamline Organizational Structure; Reaffirms FY23 Guidance

(RTTNews) - Sportradar Group AG (SRAD) announced strategic actions as part of its initiatives to streamline organizational structure. Effective immediately, the new organizational structure consists of six business functions: Product Delivery and Operations; Growth and Innovation; Commercial; Legal, Risk and Administrative Services; People; and Finance. Also, Ulrich Harmuth, Chief Strategy Officer, will be departing the company.

Sportradar Group said Griffin will be leaving for personal reasons. He will continue as CFO until May 31, 2024. The company has initiated a search for CFO.

Carsten Koerl, CEO of Sportradar, said: "By centralizing our key business functions, we will foster greater collaboration and faster decision making, enabling us to drive further operating efficiencies and increased innovation across our business."

Sportradar reaffirmed fiscal 2023 guidance of revenue in the range of 870 million euros to 880 million euros, year-over-year growth between 19% and 21%, adjusted EBITDA in the range of 162 million euros to 167 million euros, year over-year growth between 29% and 33%, and adjusted EBITDA margin in the range of 18.4% and 19.2%.

The company reaffirmed fiscal 2024 outlook for revenue and adjusted EBITDA growth of at least 20%.

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