In the year 2018, the sports wagering media enterprise, Better Collective, experienced remarkable revenue expansion of 54%, reaching €40.5 million (approximately $45.8 million). This outcome aligned perfectly with the company’s projections.
Their earnings before interest, taxes, depreciation, and amortization (EBITDA), following certain modifications, also demonstrated positive results with a 47% surge to €16 million. Nevertheless, after incorporating expenses associated with extraordinary initiatives, their initial public offering, and mergers and acquisitions, amounting to €4 million, the ultimate EBITDA settled at €12 million.
Despite the robust top-line expansion, Better Collective’s overall operating income for 2018 actually contracted by 8% to €9 million, and net income witnessed a more substantial reduction of 27% down to €5.4 million.
Focusing solely on the final quarter, revenue attained €12 million, a substantial 30% year-over-year increase. Their adjusted EBITDA for Q4 exhibited significant growth of 51%, reaching €5.3 million. However, after accounting for €11.4 million in expenditures related to special undertakings, the actual EBITA for the quarter stood at €5.2 million.
Jesper Søgaard, Chief Executive Officer of Better Collective, remarked on the financial performance: “We sustained robust impetus throughout the fourth quarter. Nonetheless, the dip in organic revenue was anticipated in comparison to an exceptionally strong Q4 2017. This can be attributed to the cyclical nature of our business segments, the scheduling and results of major athletic competitions, and our robust non-depositing customer growth, all of which directly influenced revenue. For the entirety of 2018, we achieved our projections and are fully prepared for 2019.”
