In the year 2018, the sports wagering media enterprise, Better Collective, experienced remarkable revenue expansion of 54%, aligning perfectly with their initial forecasts. This accomplishment yielded €40.5 million (equivalent to $45.8 million in US currency). Their adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), a key indicator of profitability, also surged by a substantial 47%, reaching €16 million. Nevertheless, after incorporating expenditures such as their initial public offering (IPO) and other strategic investments, their profit before taxes amounted to €12 million.
Despite the positive commencement, their total operating earnings for the year witnessed a marginal decline of 8%, settling at €9 million, while their after-tax profit experienced a more pronounced reduction of 27%, reaching €5.4 million.
Focusing solely on the final quarter, Better Collective generated €12 million, representing a robust 30% increase compared to the preceding year. Their adjusted EBITDA for the fourth quarter of 2018 exhibited significant strength, soaring by 51% to attain €5.3 million. However, after accounting for certain specific costs, their ultimate EBITDA for the quarter stood at €5.2 million.
Jesper Søgaard, the Chief Executive Officer of Better Collective, acknowledged that while the fourth quarter showcased sustained expansion, it was moderately slower in comparison to the exceptional results achieved in the corresponding period of 2017. He attributed this to the inherent fluctuations within the sports betting sector, where the scheduling of major sporting events exerts an influence, as well as the company’s substantial growth in attracting new depositing customers.
In summary, 2018 proved to be a prosperous year for Better Collective, as they successfully met their objectives and established a solid foundation for a promising start to 2019.
