Better Collective, a developer of digital platforms for bookmaker information, igaming communities and betting tips, has announced its fourth quarter revenue has increased 61 per cent year-on-year to €19.5m.
Fourth quarter Earnings before interest, taxes, and amortization (EBITA), before special items increased 32 per cent to €7.1m, the EBITA margin before special items was 36 per cent, the firm noted.
The company’s profits did take a knock in 2019, following the successful buyout of US entities knocking revenue down by 4 per cent.
Sports win margins were significantly lower than historic average. Compared to historic average, revenue and earnings were affected negatively by an estimated €2m in Q4.
Better Collective saw new depositing customers exceeding 118,000 in the last three months of the 2019, a growth of 55 per cent year-on-year.
Revenue for the firm grew by 67 per cent to €67.4m in 2019, with organic growth recorded at 26 per cent of the previous year.
EBITA before special items grew by 69 per cent to €27.2m in 2019. The EBITA-margin before special items was 40 per cent in 2019.
Cash flow from operations before special items was €26.5m, an increase of 75 per cent.
For the full year 2019, we landed well in line with our financial targets, with an annual growth of 67 per cent, of which 26 per cent organic, along with an NDC growth of 66 per cent. All this combined, makes me very satisfied with this year’s performance,” Jesper Søgaard CEO of the company said.
