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Better Collective Raises Revenue and Earnings Targets for 2023

License: Pexels, Free to use, Author: RDNE Stock project

Affiliate group Better Collective has revised its full-year financial guidance, upgrading it for the second time in two months due to recent developments. The company now expects to achieve revenue between €315 million and €325 million for the 12 months ending December 31, indicating year-on-year growth of 17% to 21%. This is an increase from the previously set range of €305 million to €315 million in April. Better Collective has also raised its earnings before interest, tax, depreciation, and amortization (EBITDA) guidance to €105 million to €115 million, a jump of 24% to 35% compared to the previous year.

The decision to raise the financial guidance comes after a record-breaking first quarter for Better Collective, where revenue reached an all-time high of €88 million, a 30% increase compared to the same period in 2022. EBITDA before special items also experienced a year-on-year growth of 44%, reaching €33 million. The company reported strong performance in the Americas, media partnerships, and sports win margin, contributing to the positive results.

Earlier this year, Better Collective established long-term financial targets for the period spanning 2023 to 2027. These targets include a compound annual growth rate of over 20% for revenue, an EBITDA margin before special items of 30% to 40%, and a net debt to EBITDA ratio below 3%. The company plans to finance mergers and acquisitions solely through its own cash flow and debt as it strives to achieve these targets.

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