Better Collective Raises 2023 Financial Goals Amidst Sustained Momentum
Better Collective, in its pursuit to become a leading digital sports media group, has disclosed an upward revision of its financial objectives for 2023. This comes on the heels of its record-breaking Q1 performance and a sustained strong trajectory into Q2, underscored by the stellar performance in the Americas, media partnerships, and sports win margins.
Revised 2023 Financial Projections:
- Revenue projection is now set at 315-325 mEUR, up from the previous estimate of 305-315 mEUR, implying a year-over-year (YOY) growth rate of 17-21%.
- EBITDA before special items is now forecasted to reach 105-115 mEUR, marking an increase from the earlier target of 95-105 mEUR, and suggesting a YOY growth of 24-35%.
- Net debt to EBITDA before special items remains steady at less than 2.0.
Continuation of Q1 Momentum into Q2:
Q1 was a landmark quarter for Better Collective, fuelled by strong growth in the Americas and robust underlying performance across the group. The group recorded a revenue of 88 mEUR, signifying a YOY increase of 30%, and an EBITDA before special items of 33 mEUR, indicating a YOY surge of 44%. A trading update released in the Q1 report revealed an anticipated growth rate of 40% moving into Q2.
In May, Better Collective successfully retained its robust underlying growth across the group, with noteworthy above-expected performance in the Americas, media partnerships, and sports win margins.
Better Collective is set to release its Q2 report on August 22, after market closure.