Key points:
- Better Collective has confirmed revenue rises for both Q4 & FY 2024
- Despite a poor recent performance in Brazil, the company has reiterated its confidence in the market long-term
- The affiliate has now released its full 2025 financial guidance
Affiliate Better Collective has unveiled Q4 & FY 2024 revenue figures of €96m ($100.2m) and €371m, respectively – alongside additional financial insights into the calendar year just passed.
Indeed, the company’s Q4 2024 revenue represents a year-on-year rise of 13%, with recurring revenue also experiencing an upswing of 28% - settling at €63m. Additionally, EBITDA before special items also hit €34m for the quarter, up by 14% in comparison to figures for 2023 – and complemented by a margin of 35%.
Regarding full year highlights, revenue also rose year-on-year by 14%, with recurring revenue reaching €231m - representing a growth figure of 21% in comparison to the year prior. EBITDA before special items also reached €113m for the year, representing a marginal rise of 2% compared to 2023’s results. Moreover, EBITDA margin settled at 31% for the full 2024 calendar year.
These results mean that revenue for the year ended at the top end of the affiliate’s projections, with EBITDA also settling just above the company’s recently revised targets. Further, these latest results come equipped with newly specified financial targets for the year ahead, with Better Collective revealing a revenue guidance figure of €320m- €350m, alongside an EBITDA of €100m- €120m.
As part of this latest release, the affiliate also cited a slowdown in the Brazilian market in anticipation of its opening in the new year – with NDCs down by 15% following the development in the nation. Despite this, Better Collective has maintained its confidence in its long-term position within the nation.
Good to know: The company has also initiated a share buyback program of up to €10m, with these results coming in the wake of a recent downgrading in financial expectations
Jesper Søgaard, Better Collective Co-founder & CEO, commented, stating: “In just a few years, Brazil and the US have emerged as key growth drivers for our business, now representing more than half of our 2024 Group revenues. We have strategically leveraged our strong organic and inorganic growth performance to secure leading positions in these growing markets for Better Collective. Despite the unforeseen challenges which arose in the second half of 2024 in those markets, our confidence in the long-term potential remains strong.
“I am pleased with the growth we saw over the year in key areas, including our Europe, Canada, and South American businesses, as well as the advancements we made in our esports business. As we have progressed into 2025, our focus is on commercial execution, business development and capital allocation. Supported by our exceptional team and our leading House of Brands, we are well-positioned to seize the many opportunities ahead."
