Better Collective reports over 30% EBITDA increase in 2023
Better Collective has recently published its initial financial results for the 2023 financial year.
While the media firm has not yet published its full performance results for the past financial year, its preliminary report has highlighted a healthy growth momentum for the company. This includes a 31% increase in Better Collective’s FY2023 EBITDA, which was recorded at 111 million euros at the end of the year. The firm’s revenue, on the other hand, was recorded at 327 million euros and represented a growth of 21% year-over-year.
While Better Collective’s revenue experienced slightly less growth, it outpaced the company’s projections of 315 million to 325 million euros, while the media firm’s EBITDA was at the higher end of its projected range of 105 million to 115 million euros. Better Collective mentioned that throughout the year it was also able to achieve its targeted debt-to-EBITDA ratio of less than 2.
Furthermore, the company added that it had upped its financial targets twice over 2023, further solidifying Better Collective’s success in the period. The firm’s initial revenue guidance was up to 300 million euros, while its EBITDA projection was up to 100 million euros, both of which have been surpassed by a sizable margin.