Better Collective revenue surges 40% in first quarter
Affiliate marketing company Better Collective has increased revenue year-on-year by 40% organic revenue growth was 21%.
The growth was supported by strong sports win margins and high activity up until the COVID-19 crisis started impacting societies and sports events from mid-March.
EBITA before special items increased 32% to 8,626 EUR (Q1 2019: 6,521 EUR). The EBITA-margin before special items was 41%.
Cash Flow from operations before special items was 9,451 EUR (Q1 2019: 7,559 EUR), an increase of 25%. The cash conversion was 103%. End of Q1, capital reserves stood at 70.4 mEUR including cash of 18.9 mEUR and unused bank credit facilities of 51.5 mEUR.
Jesper Søgaard, CEO of Better Collective, commented: “In Q1, the business has shown strong performance at record levels up until mid-March. COVID-19 has halted most sports events, which will have a significant impact on Q2, but we are adjusting operations accordingly and we stay optimistic that normal sports betting activity levels will be restored in the second half of 2020.”