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Better Collective, in order to achieve its vision of becoming the leading digital sports media company, has announced an upgrade to its financial targets for 2023. The group’s record-breaking performance in Q1 has continued into Q2, with the Americas, the media partnerships and sports win margin all performing above expectations.
New 2023 Financial Targets
Revenues of 315-325 million EUR (previously, 305-315 millionEUR)
Growth of 17-21% YoY is implied
EBITDA (before special items) of 95-105 million EUR
Implying a 24-35% YoY growth
Net debt to EBITDA without special items = 2.0
Q2 continues the momentum of Q1
The Q1 was a record quarter for Better Collective, driven by strong performance in the Americas and across the entire group. The revenue was 88 mEUR and grew 30% year-on-year, while EBITDA (before special items) was 33 mEUR. A trading update for April in the Q1 report indicated a growth of 40% going into Q2.
Better Collective reported a strong growth in May. The group’s Americas, media partnership, and sports win margin were all above expectations.
Better Collective will release their Q2 report after the market close on August 22.
