Names Executive Leadership Team to Oversee Global Functions

Company Reaffirms Fiscal 2023 Guidance and Fiscal 2024 Outlook

ST. GALLEN, Switzerland, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Sportradar Group AG (NASDAQ: SRAD) ("Sportradar" or the "Company") today announced additional strategic actions as part of its previously announced initiatives to streamline its organizational structure to enhance focus on clients and partners, drive global innovation and product development, and propel long-term growth, profitability, and shareholder value.

I am excited to announce this new global organization and leadership structure, which aligns our teams on our strategic priorities, promotes agile execution and better positions Sportradar for future growth," said Carsten Koerl, CEO of Sportradar. "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. These decisive steps will enable us to better serve our clients and partners as well as capture the significant market opportunities ahead of us. I am confident we have the right leaders in place, intently focused on executing on our strategic priorities. For 2023, we remain on track to deliver on our strong growth targets and are well positioned to maintain that momentum into 2024."

Effective immediately, the new organizational structure consists of six business functions:

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-- Product Delivery and Operations combines and centralizes content, product
development and engineering globally to seamlessly deliver best-in-class
products and solutions to clients and partners, led by Warren Murphy,
previously Chief Product Officer and now Chief Delivery and Operations
Officer.
-- Growth and Innovation combines growth, strategy and innovation to
facilitate a unified vision for identifying and capitalizing on market
opportunities, thereby ensuring a well-defined growth strategy fueled by
continuous innovation, led by Nick Maywald, previously Chief Content
Officer and now Chief Growth and Innovation Officer.
-- Commercial combines the Company's go-to-market functions, including sales,
client services and care, sports partnerships, marketing and
communications to further drive revenue opportunities while enhancing its
client- and partner-centric approach, led by Chief Commercial Officer
Eduard Blonk.
-- Legal, Risk and Administrative Services, led by Lynn McCreary, Chief
Administrative Officer, Chief Legal Officer and Corporate Secretary.
-- People, led by Severine Riviere-Gerstner, Chief People Officer.
-- Finance, led by Gerard Griffin, Chief Financial Officer.
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As part of these organizational changes, Ulrich Harmuth, Chief Strategy Officer, will be departing the Company to pursue other endeavors.

Separately, Griffin has informed the Company that he will be leaving for personal reasons. Griffin will continue as CFO until May 31, 2024, or the appointment of a permanent successor, if earlier. The Company has initiated a search for its next CFO, whom it expects to announce prior to Griffin's departure.

Sportradar also reaffirmed its fiscal 2023 guidance of revenue in the range of EUR870 million to EUR880 million, representing year-over-year growth between 19% and 21%, Adjusted EBITDA(1) in the range of EUR162 million to EUR167 million, representing year over-year growth between 29% and 33%, and Adjusted EBITDA margin in the range of 18.4% and 19.2%. The Company also reaffirmed its fiscal 2024 outlook for revenue and Adjusted EBITDA growth of at least 20%.

Koerl continued, "I want to thank Ger for his contributions to Sportradar. He has meaningfully strengthened our finance team with a deep and talented bench that will continue to contribute to the Company as we look to drive growth and profitability into the future. We look forward to continuing to benefit from his leadership while we search for a permanent successor."

Koerl concluded, "I also want to thank Ulrich for his contributions to our company, clients and partners that have positioned Sportradar for continued success. For over a decade, he held various leadership roles, contributing to our growth. We wish him the best in his future endeavors."

About Sportradar

Sportradar Group AG (NASDAQ: SRAD), founded in 2001, is a leading global sports technology company creating immersive experiences for sports fans and bettors. Positioned at the intersection of the sports, media and betting industries, the company provides sports federations, news media, consumer platforms and sports betting operators with a best-in-class range of solutions to help grow their business. As the trusted partner of organizations like the ATP, NBA, NHL, MLB, NASCAR, UEFA, FIFA and Bundesliga, Sportradar covers close to a million events annually across all major sports. With deep industry relationships and expertise, Sportradar is not just redefining the sports fan experience, it also safeguards sports through its Integrity Services division and advocacy for an integrity-driven environment for all involved.

For more information about Sportradar, please visit www.sportradar.com

Sportradar Contacts

Press Contact:

Sandra Lee

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Investor Relations Contact:

Jim Bombassei

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Non-IFRS Financial Measures

We have provided in this press release financial information that has not been prepared in accordance with IFRS, including Adjusted EBITDA and Adjusted EBITDA margin. We use these non-IFRS financial measures internally in analyzing our financial results and believe they are useful to investors, as a supplement to IFRS measures, in evaluating our ongoing operational performance. We believe that the use of these non-IFRS financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing our financial results with other companies in our industry, many of which present similar non-IFRS financial measures to investors. Non-IFRS financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with IFRS.

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-- "Adjusted EBITDA" represents earnings for the period from continuing
operations adjusted for finance income and finance costs, income tax
expense or benefit, depreciation and amortization (excluding amortization
of sprots rights), foreign currency gains or losses, and other items that
are non-recurring or not related to the Company's revenue-generating
operations, including share based compensation, impairment charges or
income, management restructuring costs, non-routine litigation costs,
share of loss of equity-accounted investee (SportTech AG), loss on
disposal of equity-accounted investee (SportTech AG), remeasurement of
previously held equity-accounted investee, professional fees for the
Sarbanes Oxley Act of 2002 and enterprise resource planning
implementations, and a one-time charitable donation for Ukrainian relief
activities. The most directly comparable IFRS measure to Adjusted EBITDA
is profit (loss) for the period from continuing operations, its most
directly comparable IFRS measure.License fees relating to sports rights
are a key component of how we generate revenue and one of our main
operating expenses. Such license fees are presented either under
purchased services and licenses or under depreciation and amortization,
depending on the accounting treatment of each relevant license. Only
licenses that meet the recognition criteria of IAS 38 are capitalized.
The primary distinction for whether a license is capitalized or not
capitalized is the contracted length of the applicable license. Therefore,
the type of license we enter into can have a significant impact on our
results of operations depending on whether we are able to capitalize the
relevant license. Our presentation of Adjusted EBITDA removes this
difference in classification by decreasing our EBITDA by our amortization
of sports rights. As such, our presentation of Adjusted EBITDA reflects
the full costs of our sports right's licenses. Management believes that,
by deducting the full amount of amortization of sports rights in its
calculation of Adjusted EBITDA, the result is a financial metric that is
both more meaningful and comparable for management and our investors
while also being more indicative of our ongoing operating performance.We
present Adjusted EBITDA because management believes that some items
excluded are non-recurring in nature and this information is relevant in
evaluating the results of the respective segments relative to other
entities that operate in the same industry. Management believes Adjusted
EBITDA is useful to investors for evaluating Sportradar's operating
performance against competitors, which commonly disclose similar
performance measures. However, Sportradar's calculation of Adjusted
EBITDA may not be comparable to other similarly titled performance
measures of other companies. Adjusted EBITDA is not intended to be a
substitute for any IFRS financial measure.Items excluded from Adjusted
EBITDA include significant components in understanding and assessing
financial performance. Adjusted EBITDA has limitations as an analytical
tool and should not be considered in isolation, or as an alternative to,
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