Better Collective has revised its financial targets for 2023, raising its revenue expectations from €305m – €315m ($332.8m – $343.7m) to €315m – €325m.
The upgrade in its revenue expectations indicates that the company expects to see 17%-35% annual growth. Meanwhile, its EBITDA before special items is also expected to increase from an expected €95m – €105m to €105 – €115m.
Finally, Better Collective also stated that it does not expect its net debt to EBITDA before special items to change.
The fiscal update comes as Better Collective continues to dominate the affiliate market – recently acquiring a greater than 5% stake in main rival Catena Media.
Highlighting its figures, Better Collective stated: ‘Q1 proved to be a record-breaking quarter for Better Collective driven by the Americas as well as strong underlying performance across the group. Revenue came in at €88m, growing 30% year-on-year and EBITDA before special items at €33m, growing 44% year-on-year. In the Q1 report, a trading update on April indicated growth of 40% heading into Q2.
‘In May, Better Collective maintained the strong underlying growth across the group while highlighting the Americas, media partnerships and the sports win margin all being above expectations.’
Better Collective posted total revenue growth of 52% for 2022, amounting to €269m. In the report, the company also announced its long-term financial targets, up to 2027. These include a compound annual growth rate (CAGR) of 20% and an EBITDA margin excluding special items of 30-40%.
