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NEWS 19 February 2020

Better Collective revenue rises 67% for 2019

By Aidan Williams

Better Collective’s revenue grew by 67% to €67.4m ($72.8m) for 2019.

Organic revenue growth was 26%, while EBITA before special items grew by 69% to €27.2m.

The EBITA margin before special items was 40% and cash flow from operations before special items was €26.6m, which represents an increase of 75%. 

As for Q4 itself, revenue grew 61% to €19.6m, while EBITA before special items increased 32% to €7.1m.

Sports win margins were significantly lower than Better Collective's historic average, with revenue and earnings affected negatively by an estimated €2m for the quarter due to this.

In 2019, Better Collective made numerous acquisitions: it bought 60% of the shares in Rical LLC for €18m, with the remaining 40% of shares to be bought in 2022-24.

Through a wholly-owned US subsidiary, the assets of Vegasinsider.com and Scoresandodds.com were also acquired for €18m.

Better Collective also bought all shares in the company owning and operating mybettingsites.co.uk.

Jesper Søgaard, CEO of Better Collective, said: "In Q4, we experienced some headwind due to very low average sports win margins. Still, we delivered the highest revenue and operational earnings in company history.

"For the full year 2019, we landed well in line with our financial targets, with an annual growth of 67%, of which 26% organic, along with a record high NDC growth of 66%.

"We even managed to absorb the newly acquired US businesses and still meet our earnings target of >40% EBITA-margin. All this combined, makes me very satisfied with this year’s performance."

RELATED TAGS: Financial
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