Better Collective sees revenue rise 7% for Q3
Better Collective has posted €18.3m ($21.6m) in revenue for Q3 2020, a 7% year-on-year growth.
Net profit was €4.9m, an annual increase from €3.3m. Operational earnings (EBITA) before special items was €8m, an 18% increase.
Net financial costs for the quarter were €126,000, against €614,000 in Q3 2019. The number of new depositing customers rose 13% to 97,000.
CEO Jesper Søgaard said: “Q3 showed strong underlying performance on most KPIs measured in our revenue share accounts, as sports wagering was at a record high, as were the number of bets placed and active sports users.”
On 1 October, the group completed the acquisition of Atemi Group for €44m, which was “a major strategic move for Better Collective with significant synergistic opportunities.”
On 2 November, the group also acquired zagranie.com, a Polish sports betting media brand.
Revenue for the first nine months was €54.5m, a 14% increase from 2019. Net profit for the period was €13.5m against €10.1m last year.
The affiliate’s revenue did suffer from the impact COVID-19 had on sporting events. The group stated revenue was negatively impacted by €2m in Q3 due to low sports win margin.
Søgaard said that if the remainder of the year and 2021 was filled with sporting events, “we believe we are well-positioned to take our part of a global market that is getting back on the growth track.”
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