Better Collective upgrades its financial targets

Finance News

Executing on its vision to become the leading digital sports media group, Better Collective announces an upgrade of its 2023 financial targets.

Following its record-breaking Q1, the group has carried on its strong momentum into Q2, highlighting above expected performance from the Americas, media partnerships, and the sports win margin.

New 2023 financial targets: Revenue of 315-325 mEUR (previously 305-315 mEUR). Implying 17-21% YOY growth. EBITDA before special items of 105-115 mEUR (previously 95-105 mEUR). Implying 24-35% YOY growth.Net debt to EBITDA before special items <2.0 (unchanged).

The record-breaking Q1 momentum continues into Q2. Q1 proved to be a record-breaking quarter for Better Collective driven by the Americas as well as strong underlying performance across the group. Revenue came in at 88 mEUR, growing 30% YOY and EBITDA before special items at 33 mEUR growing 44% YOY. In the Q1 report, a trading update on April indicated growth of 40% heading into Q2.

In May, Better Collective maintained the strong underlying growth across the group, while highlighting the Americas, media partnerships and the sports win margin all being above expectations.