Better Collective upgrades its 2023 financial targets
In its pursuit of becoming the leading digital sports media group, Better Collective has announced an upgrade to its 2023 financial targets.
Better Collective raises its 2023 financial targets
Building on its record-breaking performance in Q1, the company has maintained its strong momentum into Q2, driven by exceptional results in the Americas, successful media partnerships, and a robust sports win margin.
The revised financial targets for 2023 are as follows:
- Revenue: 315-325 million EUR (previously 305-315 million EUR), indicating a year-on-year (YOY) growth of 17-21%.
- EBITDA (earnings before interest, taxes, depreciation, and amortization) before special items: 105-115 million EUR (previously 95-105 million EUR), implying a YOY growth of 24-35%.
- Net debt to EBITDA before special items: Remains unchanged, with a target of less than 2.0.
The strong performance in Q1, driven primarily by the Americas, propelled Better Collective to achieve record-breaking results. Revenue reached 88 million EUR, representing a remarkable 30% YOY growth, while EBITDA before special items reached 33 million EUR, demonstrating a substantial 44% YOY increase. A trading update in April provided a glimpse of the promising growth trajectory, indicating a 40% growth heading into Q2.
Impressive growth
Throughout May, Better Collective sustained its impressive growth across all sectors, with the Americas, media partnerships, and the sports win margin surpassing expectations.
Better Collective is scheduled to release its Q2 report on August 22, after the market closes. The upcoming report is highly anticipated as the company continues to solidify its position as a leading player in the digital sports media industry.
