Following the completion of its acquisition of Playmaker Capital, Better Collective released its unaudited full-year report, heralding 2023 as a remarkably robust year, surpassing its projected performance.
The company disclosed that its full-year revenues soared to EUR 327 million ($352.5 million), marking a substantial 21% year-over-year growth. Meanwhile, EBITDA experienced a notable 31% surge, reaching EUR 111 million ($119.7 million). Notably, the EBITDA figure landed comfortably within the upper echelons of Better Collective’s forecast, while revenue outstripped prior estimates.
Furthermore, Better Collective underscored its achievement of maintaining net debt to EBITDA before special items below 2.0, aligning with its strategic target.
The digital sports media group characterized 2023 as a year of exceptional strength, enabling it to surpass its financial objectives. This success was attributed to robust operational performance and accretive acquisitions, leading to two upward revisions of the company’s guidance throughout the year.
Initially, Better Collective’s guidance outlined revenues between EUR 290 and 300 million, alongside an EBITDA range of EUR 90-100 million. Subsequently, the company revised its projections, targeting revenues of EUR 315-325 million and EBITDA of 105-115 million.
Better Collective announced that its official Q4 and FY 2023 report would be released on February 21, following the close of the market.
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