- Legal States
Luke Thompson February 24, 2021 3 min read
Better Collective Releases All-Time High 2020 Revenue Growth
Better Collective has published its full-year 2020 results marking a significant growth over the period. The company plans to continue this trend in 2021 to reach €160 million in corporate revenue with an organic EBITDA of €50 million.
Long-Term Strategy and Investment Proved Successful
Better Collective’s long-term strategy and digital portfolio have earned the company a staggering €91 million in corporate revenue for 2020, up 35% year-over-year. The company witnessed strong year-end trading and sports betting performance that led to Q4 revenue of €37 million compared to 2020 Q4 of €19.5m.
Better Collective put the company’s growth down to a smart adaptation of its publishing network and taking advantage of the rescheduled end-of-year sports calendar. The sports betting bonanza increased the number of new depositing customers to more than 150,000, up 30% during the Q4 period.
The Q4 growth was further boosted by the integration of media specialist Atemi Group which was bought by Better Collectives in 2020 for €44 million. Atemi Group will be used as Better Collective’s new pay-per-click unit. Better Collective further stated that the company would split into two accounting segments. One organic from legacy domains, and the other one for paid media, which is within the remit of Atemi, and their pay-per-click activities.
Resilience and Growth during a Tough Year
Despite a year of irregularities and other setbacks, Better Collective made significant adjustments bypassing many obstacles. Markets in Sweden, Spain, and Italy introduced temporary regulatory restrictions limiting player wagering, and Google’s search engine changes impacted network traffic in the UK. Better Collective endured and came on top.
“Strong performance in Q4 marks the ending of an unusual year of an unprecedented halt in sports and general insecurity as the pandemic affected societies worldwide. Our business has proven resilient and is back on track with record-high performance in Q4.” As stated by the CEO of Better Collective, Jesper Søgaard
Better Collective has also spent €80 million, including 4 million shares in M&A options.
The company declared a full-year profit of €22 million, an increase of €8 million since 2019. Better Collective bought esports-centric asset HLTV.org for €35 million, thus expanding its portfolio beyond online gambling, and after significant H1 changes, the company was able to reach a 2020 EBITDA of €36 million, a growth of €9 million from 2019.
Better Collective strives to grow even further in 2021, with the objective of reaching €160 million in corporate revenues with an organic EBITDA of €50 million.
Søgaard concluded the financial statement on a confident note that his company is much stronger than the year before and hoped that soon players and fans would be able to meet and enjoy games in public at the big stadiums.