Sportradar Group AG 6-K, filed Mar 30, 2022

Sportradar Group AG (SRAD)

6-K 2022-03-30 For: 2022-03-30

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Added on April 09, 2026

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Sportradar Group AG filed this 6-K on March 30, 2022.

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Exhibit Number		Description

99.1		Press Release of Sportradar Group AG, dated March 30, 2022.


SPORTRADAR GROUP AG

By:		/s/ Alex Gersh
Name: Alex Gersh
Title: Chief Financial Officer


In millions, in Euros €	Q4 2021			Q4 2020			Change %			FY 2021			FY 2020			Change %
Revenue		152.4			108.0			41	%		561.2			404.9			39	%
Adjusted EBITDA²		21.4			18.8			14	%		102.0			76.9			33	%
Adjusted EBITDA margin²		14.0	%		17.4	%		—			18.2	%		19.0	%		—
Adjusted Free Cash Flow²		(22.5	)		7.1			—			14.5			53.5			(73	%)
Cash Flow Conversion²		(105.1	%)		37.5	%		—			14.3	%		69.6	%		—


	Three Months Ended December 31,						Years Ended December 31,
	2020			2021			2020			2021
Revenue		108,030			152,365			404,924			561,202
Purchased services and licenses (excluding depreciation and amortization)		(25,831	)		(33,449	)		(89,307	)		(119,426	)
Internally-developed software cost capitalized		1,505			2,658			6,093			11,794
Personnel expenses		(34,301	)		(47,043	)		(121,286	)		(183,820	)
Other operating expenses		(13,853	)		(27,191	)		(41,339	)		(87,308	)
Depreciation and amortization		(25,359	)		(38,104	)		(106,229	)		(129,375	)
Impairment of intangibles assets		—			—			(26,184	)		—
Impairment of equity-accounted investee		—			—			(4,578	)		—
Impairment loss on trade receivables, contract assets and other financial assets		(1,614	)		(5,193	)		(4,645	)		(5,952	)
Share of loss (income) of equity-accounted investees		(113	)		2			(989	)		(1,485	)
Foreign currency gains, net		9,924			8,946			13,806			5,437
Finance income		2,085			198			8,517			5,297
Finance costs		(7,047	)		(8,703	)		(16,658	)		(32,540	)

Net income before tax		13,426			4,486			22,125			23,824
Income tax expense		(3,868	)		(313	)		(7,319	)		(11,037	)

Profit for the period		9,558			4,173			14,806			12,787

Other Comprehensive Income
Items that will not be reclassified subsequently to profit or loss
Remeasurement of defined benefit liability		(978	)		1,345			(926	)		1,399
Related deferred tax income (expense)		144			(193	)		136			(202	)

		(834	)		1,152			(790	)		1,197
Items that may be reclassified subsequently to profit or loss
Foreign currency translation adjustment attributable to the owners of the company		1,870			14,310			3,683			13,720
Foreign currency translation adjustment attributable to non-controlling interests		147			(82	)		277			(265	)

		2,017			14,228			3,960			13,455

Other comprehensive income for the period, net of tax		1,183			15,380			3,170			14,652

Total comprehensive income for the period		10,741			19,553			17,976			27,439

Profit (loss) attributable to:
Owners of the Company		9,338			3,962			15,245			12,569
Non-controlling interests		220			211			(439	)		218

		9,588			4,173			14,806			12,787

Total comprehensive income (loss) attributable to:
Owners of the Company		10,373			19,424			18,138			27,486
Non-controlling interests		368			129			(162	)		(47	)

		10,741			19,553			17,976			27,439


	December 31,
	2020			2021
Assets
Current assets
Cash and cash equivalents		385,542			742,773
Trade receivables		23,812			33,943
Contract assets		23,775			40,617
Other assets and prepayments		15,018			31,161
Income tax receivables		1,661			1,548

		449,808			850,042

Non-current assets
Property and equipment		33,983			35,923
Intangible assets and goodwill		346,069			808,472
Equity-accounted investees		9,884			8,445
Other financial assets and other non-current assets		95,055			41,331
Deferred tax assets		22,218			26,908

		507,209			921,079

Total assets		957,017			1,771,121

Current liabilities
Loans and borrowings		8,040			6,086
Trade payables		131,469			150,012
Other liabilities		37,733			59,992
Contract liabilities		14,976			22,956
Income tax liabilities		7,535			14,190

		199,753			253,236

Non-current liabilities
Loans and borrowings		430,639			429,264
Trade payables		146,157			320,428
Other non-current liabilities		10,682			7,081
Deferred tax liabilities		5,654			25,478

		593,132			782,251

Total liabilities		792,885			1,035,487
Ordinary shares		302			27,297
Participation certificates		161			—
Treasury shares		(1,970	)		—
Additional paid-in capital		99,896			606,057
Retained earnings		68,027			89,693
Other reserves		859			15,776

Equity attributable to owners of the Company		167,275			738,823

Non-controlling interest		(3,143	)		(3,189	)

Total equity		164,132			735,634

Total liabilities and equity		957,017			1,771,121


	Years Ended December 31,
	2020			2021
OPERATING ACTIVITIES:
Profit for the year		14,806			12,787
Adjustments to reconcile profit for the year to net cash provided by operating activities:
Income tax expense		7,319			11,037
Interest income		(6,661	)		(5,179	)
Interest expense		16,658			32,325
Impairment losses on financial assets		1,698			5,889
Impairment of equity-accounted investee		4,578			—
Other financial expenses (income)		(3,617	)		96
Foreign currency gains, net		(13,806	)		(5,436	)
Amortization and impairment of intangible assets		122,646			119,048
Depreciation of property and equipment		9,767			10,327
Equity-settled share-based payments		2,327			15,431
Other		1,930			608

Cash flow from operating activities before working capital changes, interest and income taxes		157,645			196,933

Increase in trade receivables, contract assets, other assets and prepayments		(11,722	)		(69,896	)
Increase in trade and other payables, contract and other liabilities		20,657			44,385

Changes in working capital		8,935			(25,511	)

Interest paid		(13,263	)		(31,060	)
Interest received		17			165
Income taxes paid		(2,075	)		(8,306	)

Net cash from operating activities		151,259			132,221

INVESTING ACTIVITIES:
Acquisition of intangible assets		(91,956	)		(124,890	)
Acquisition of property and equipment		(1,996	)		(5,861	)
Acquisition of subsidiaries, net of cash acquired		(2,062	)		(198,432	)
Contribution to equity-accounted investees		—			(45	)
Acquisition of financial assets		—			(2,605	)
Collection of loans receivable		454			265
Issuance of loans receivable		(2,687	)		(2,270	)
Collection of deposits		215			222
Payment of deposits		(108	)		(152	)

Net cash used in investing activities		(98,140	)		(333,768	)

FINANCING ACTIVITIES:
Payment of lease liabilities		(3,817	)		(7,118	)
Proceeds from borrowing of bank debt		462,057			—
Transaction costs related to borrowings		(11,160	)		—
Principal payments on bank debt		(170,838	)		(2,376	)
Purchase of MPP share awards		(3,750	)		—
Proceeds from issuance of MPP share awards		2,330			1,650
Change in bank overdrafts		(285	)		(22	)
Proceeds from issue of participation certificates		—			1,002
Proceeds from issuance of new shares		—			556,639
Transaction costs related to issuance of new shares and participation certificates		—			(10,009	)

Net cash from financing activities		274,537			539,766

Net increase in cash		327,656			338,219
Cash as of January 1		57,024			385,542
Effects of movements in exchange rates		862			19,012

Cash and cash equivalents as of December 31		385,542			742,773


	Three Months Ended December 31, 2020
in €‘000	RoW Betting			RoW Betting AV			United States			Total reportable segments			All other segments			Total
Segment revenue		63,412			23,485			12,121			99,018			9,012			108,030
Segment Adjusted EBITDA		28,855			5,591			1,346			35,792			(1,361	)		34,431
Unallocated corporate expenses⁽¹⁾																	(15,628	)

Adjusted EBITDA																	18,803

Adjusted EBITDA margin		46	%		24	%		11	%		36	%		(15	%)		17	%


	Three Months Ended December 31, 2021
in €‘000	RoW Betting			RoW Betting AV			United States			Total reportable segments			All other segments			Total
Segment revenue		82,246			35,586			23,215			141,047			11,318			152,365
Segment Adjusted EBITDA		45,668			9,877			(7,553	)		47,992			(1,634	)		46,358
Unallocated corporate expenses⁽¹⁾																	(24,989	)

Adjusted EBITDA																	21,369

Adjusted EBITDA margin		56	%		28	%		(33	%)		34	%		(14	%)		14	%


	Year ended December 31, 2020
in €‘000	RoW Betting			RoW Betting AV			United States			Total reportable segments			All other segments			Total
Segment revenue		234,991			105,892			34,407			375,290			29,634			404,924
Segment Adjusted EBITDA		118,676			26,759			(16,373	)		129,062			(1,383	)		127,679
Unallocated corporate expenses⁽¹⁾																	(50,811	)

Adjusted EBITDA																	76,868

Adjusted EBITDA margin		51	%		25	%		(48	%)		34	%		(5	%)		19	%


	Year ended December 31, 2021
in €‘000	RoW Betting			RoW Betting AV			United States			Total reportable segments			All other segments			Total
Segment revenue		309,357			140,162			71,700			521,219			39,983			561,202
Segment Adjusted EBITDA		176,987			39,246			(22,625	)		193,608			(5,746	)		187,862
Unallocated corporate expenses⁽¹⁾																	(85,849	)

Adjusted EBITDA																	102,013

Adjusted EBITDA margin		57	%		28	%		(32	%)		37	%		(14	%)		18	%


	Three Months Ended December 31,						Year Ended December 31,
in €‘000	2020			2021			2020			2021
Profit for the period		9,558			4,173			14,806			12,787
Share based compensation		2,278			1,761			2,327			15,431
Depreciation and amortization		25,359			38,104			106,229			129,375
Amortization of sport rights		(18,996	)		(28,005	)		(80,608	)		(94,312	)
Impairment of intangibles assets		—			—			26,184			—
Impairment of equity-accounted investee		—			—			4,578			—
Impairment loss on other financial assets		1,698			5,464			1,698			5,889
Foreign currency gains, net		(9,924	)		(8,946	)		(13,806	)		(5,437	)
Finance income		(2,085	)		(198	)		(8,517	)		(5,297	)
Finance costs		7,047			8,703			16,658			32,540
Income tax expense		3,868			313			7,319			11,037

Adjusted EBITDA		18,803			21,369			76,868			102,013


	Three Months Ended December 31,						Year Ended December 31,
	2020			2021			2020			2021
Net cash from operating activities		35,941			6,617			151,259			132,221
Acquisition of intangible assets		(26,721	)		(43,412	)		(91,956	)		(124,890	)
Acquisition of property and equipment		(610	)		(3,140	)		(1,996	)		(5,861	)
Payment of lease liabilities		(1,550	)		(2,701	)		(3,817	)		(7,118	)
Foreign currency gains on cash equivalents		—			20,188			—			20,188

Adjusted Free Cash Flow		7,060			(22,448	)		53,490			14,540