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NEWS 19 February 2019

Better Collective increases annual revenue by 54% in 2018

By Matthew Enderby

Better Collective grew its revenue by 54% to €40.5m ($45.8m) in 2018, in line with company expectations.

EBITA before special items increased 47% to €16m; special items, IPO and M & A cost the company €4m, resulting in EBITA of €12m.

However, Better Collective's total operating profit fell by 8% to €9m during 2018, while profit after tax dropped 27% to €5.4m.

The affiliate took €12m in the year’s fourth quarter, increasing its revenue by 30% year-on-year.

Q4 EBITA before special items saw an increase of 51% to €5.3m. Special items cost €114,000, resulting in EBITA of €5.2m.  

Jesper Søgaard, CEO of Better Collective, said: "In Q4, we continued to deliver significant growth. However, when comparing to the extraordinarily strong Q4 2017, organic revenue declined as expected.

"This is explained by the volatility we face in our line of business, where the timing and results of big sporting events, plus our strong NDC growth, have a direct impact on revenue.

"For the full year 2018, we are in line with our expectations and we are well prepared for 2019.”

RELATED TAGS: Financial | Industry | Affiliate
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