In the year 2020, Better Collective, a prominent sports wagering media conglomerate, experienced remarkable expansion. Their yearly earnings surged by 35% to hit €91.2 million (roughly $110.9 million), with 8% of that expansion stemming from internal sources.
This triumph wasn’t confined to earnings alone. Their profits before interest, taxes, depreciation, and amortization (EBITDA) also leaped by a striking 34% to reach €36.6 million. Moreover, their operational cash flow displayed exceptional robustness, soaring by 44% to hit €38.3 million.
The year 2020 witnessed Better Collective acquire over 43,700 fresh depositing clients, a number in line with the preceding year.
The final quarter proved especially bountiful. Earnings escalated by 88% contrasted with the corresponding period the prior year, reaching €36.7 million. Notably, internal expansion contributed 32% to this surge. This extraordinary performance was largely fueled by the prosperous acquisition of Atemi Group on October 1st, with the assimilation of the two entities progressing seamlessly.
In comparison to the third quarter, Better Collective’s earnings doubled, while their profit before interest and taxes (EBIT), excluding extraordinary items, experienced a 92% increase, hitting €13.6 million. Operational cash flow, excluding extraordinary items, climbed by 35% to €10.1 million, and the overall count of fresh depositing clients expanded by 30% to 15,300.
January commenced the year robustly, with earnings reaching €13 million, signifying a 78% increase.
Having attained their 2018-2020 objectives and implemented segment reporting, Better Collective’s board has established ambitious fresh financial aims for 2021. These encompass surpassing €160 million in earnings, exceeding €50 million in EBITDA (transitioning from EBIT before extraordinary items), and attaining over 20% internal expansion.
Contemplating the year’s achievements, Jesper Søgaard, CEO of Better Collective, conveyed his satisfaction in the company’s adaptability and the exceptional outcomes attained in a year characterized by uncommon hurdles.
We anticipated the arrival of 2021 and the positive developments it promised.