A Premier sports wagering media conglomerate, Better Collective, experienced a remarkable 2020, witnessing a 35% revenue surge that propelled them to €91.2 million (roughly $110.9 million). Significantly, a substantial portion of this expansion, 8%, was generated organically, underscoring the company’s robust market presence.
Their profitability metrics also reflected impressive gains, with EBITDA climbing by 34% to €36.6 million. This financial stability was further bolstered by a 44% increase in operating cash flow, which reached €38.3 million. Despite the obstacles presented by the global health crisis, Better Collective successfully onboarded over 43,700 new depositing clients, equaling their 2019 figures.
The final quarter proved particularly lucrative, with revenue soaring by 88% to €36.7 million. This remarkable growth was driven by a combination of internal expansion (32%) and the strategic purchase of Atemi Group, which was seamlessly integrated into Better Collective’s operations.
In contrast to the preceding quarter, Better Collective’s revenue doubled, while their EBIT, excluding one-time items, saw a noteworthy 92% increase, reaching €13.6 million. This positive momentum continued with operating cash flow, excluding one-time items, expanding by 35% to €10.1 million, and new depositing clients rising by 30% to 15,300.
January 2021 maintained this upward trend with a 78% year-over-year revenue increase, reaching €13 million.
Having met their 2018-2020 objectives and implemented segment reporting, Better Collective’s leadership has established ambitious targets for 2021. These encompass exceeding €1.6 billion in revenue, achieving over €500 million in EBITDA (transitioning from EBIT excluding one-time items), and securing over 20% internal growth.
Jesper Søgaard, Chief Executive Officer of Better Collective, conveyed his contentment with the company’s adaptability and strong performance amidst a demanding year.
We began 2021 with a blend of enthusiasm and expectation, ready to confront any prospects and obstacles the year might present.
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