Things Can Only Get Better – Denmark’s Better Collective Posts Superb H1
Driven by its brilliant business moves in the United States, where its acquisition of the Action Network in May has substantiated its market leadership and boosted by the Covid-delayed 2020 UEFA Football Championship, BC’s revenue for its financial half, ending June 30, was up almost 120 per cent to €78.8 million (£67.4m/US$92.6m), year-on-year.
Its Publishing sector was the principal source of income, with revenue up near 50 per cent to €49.9 million (£42.7m/US$58.6m); while Media, supercharged by the canny buyout of Atemi last October, went stratospheric and surged over 1,000 per cent, compared to H1 last year, to €28.9 million (£24.7m/US$34m).
Rest-of-the-world revenue doubled to just over €66 million (£56.5m/€77.6m). Revenue in the US hit a record €12.7 million (£10.9m/US$14.9m).
Overall, earnings before EBITDA grew by 65 per cent to €25.9 million (£22.2m/US$30.4m).
And Better Collective paid €4.9 million in tax during the half (£4.2m/US$5.7m), ending its H1 with a net profit of €10 million (£8.56m/US$11.75m), up a tad over 16 per cent, year-on-year.
“[Our] strong performance [was] especially driven by the US business and by our media partnerships that saw breakthrough performance during Q2,” said Jesper Søgaard, BC’s Co-founder and CEO.
“The peak of [Q2] was the closing of our largest acquisition to date, Action Network, which is a game-changer and consolidates our leading sports betting media position in the US.
“Q2 marks yet a record quarter in terms of revenue and new depositing customers delivered to our partners.
“For the remainder of 2021 we will continue pursuing our strategy to become the leading sports betting media group in the world.
“We are well prepared for an exciting and profitable future and I look forward to further knowledge-sharing and joint effort with our new colleagues from Action Network,” he concluded.
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