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Angel Hristov February 9, 2024 2 min read
Better Collective Publishes Unaudited FY 2023 Report
The digital sports media group described 2023 as a very strong year as it allowed it to surpass its financial targets
Just after finalizing its acquisition of Playmaker Capital, Better Collective published its unaudited full-year report. The company said that 2023 was a very strong year and that the results exceeded its guidance.
According to the company’s announcement, its full-year revenues reached EUR 327 million ($352.5 million), which represents a 21% year-on-year growth. EBITDA, on the other hand, increased by 31% to EUR 111 million ($119.7 million). The latter figure was within the high end of Better Collective’s guidance, while revenue exceeded previous estimates.
In addition, Better Collective reported net debt to EBITDA before special items below 2.0, in line with its target.
The digital sports media group described 2023 as a very strong year as it allowed it to surpass its financial targets. Throughout the year, the company had to update its guidance two times thanks to strong operational performance and accretive acquisitions.
For reference, Better Collective’s first guidance was set out at the beginning of the year and targeted revenues of between EUR 290 and 300 million, as well as EBITDA range of EUR 90-100 million. However, the company had to update the guidance, eventually targeting revenues of EUR 315-325 million and EBITDA of 105-115 million.
Better Collective concluded that its official Q4 and FY 2023 report will go live on February 21, after market close.
Better Collective Seeks to Dominate the Affiliate Market
Better Collective is ambitious to become the leading digital sports media group. The company’s goal is to engage fans and foster passionate communities all over the world.
Better Collective is also bullish on promoting gambling in a safe and responsible way, as demonstrated by its participation in the Responsible Gambling Affiliate Association (RGAA), a body that was founded last year to help affiliate companies serve the online gambling market responsibly.
Other RGAA members include Catena Media, Gambling.com, Oddschecker Global Media, Spotlight Sports Group and XLMedia.
As mentioned, in 2023, Better Collective signed a definitive deal to acquire Playmaker Capital, another leading digital sports group. The acquisition, which was just completed, reinforced the former company’s position as a leading affiliate, allowing it to further develop its business.
In addition, Better Collective expects financial synergies between the two companies to have a beneficial effect on Better Collective’s business. Because of that, the company updated its long-term financial targets following the conclusion of the deal.