Better Collective sees Q4 2020 improvements as it braces itself for 2021 changes
Better Collective AS has praised its long-term strategy and digital portfolio as it announced that it has kept its growth profile as it breezed through 2020 with minimal setbacks, a great deed for a year full of mishaps and crises.
The company recently published its full-year results for 2020, and it revealed hat it has seen corporate revenues worth €91 million, which shows a huge 35% rise from the same time in 2019, which was €64.5 million.
It also saw a great improvement in corporate performance, which was also due to a powerful year-end trading period, and recorded a high sports betting performance which made the company see Q4 revenues of €37 million, up from €19.5m in Q4 of 2019.
Moreover, Better Collective also mentioned that it was successful in the adaptation of its whole sports publishing network in order to make use of the postponed sports calendar towards the end of the year, which provided a 30% rise in new depositing customers, up to 153,000 in the last quarter.
The company’s commercial activities in the fourth quarter were also improved after it obtained ‘Atemi Group’ for €44 million back in October of 2020, which will now be acting as its new pay-per-click unit. When omitting Atemi’s items, the company itself attained a 92% boost in the fourth quarter’s EBITDA, up from €7.1 million in Q4 of 2019 to €13.6 million in the corresponding period of 2020.
In an update targeted towards its investors, Better Collective highlighted the fact that its financial reporting in the future is set to be divided into two sections that make up ‘organic’ (legacy domains) and ‘paid media’ (Atemi + PPC activities) assets.
Jesper Søgaard, Better Collective CEO, stated:
Strong performance in Q4 marks the ending of an unusual year of unprecedented halt in sports and general insecurity as the pandemic affected societies worldwide. Our business has proven resilient and is back on track with record-high performance in Q4.
Even though the company recorded impressive growth in Q4, the company did mention all the massive corporate changes it had to go through during the entire year in order to take the edge off of a year that did not have any type of normalised trading.
Some of the markets that launched temporary regulatory restrictions that set a limit to player wagering were Spain, Sweden and Italy. The UK, however, saw the company’s network traffic be affected by the changes in the Google search engine.
Resisting the massive adjustments in H1, the company also was able to get a full-year 2020 EBITDA of €36 million, before the special items, which was a 34% increase from FY 2019’s €27 million. Better Collective also announced 2020 full-year profits as being €22 million (up from €14m in 2019).
Towards the end of its financial statement, the company also revealed details of its goals and objectives for 2021, in which the group is set on going after €160 million in corporate revenues and an organic EBITDA of €50 million.
Søgaard ended the statement by saying:
Looking back at an unusual year, I am pleased to see that our business has proven resilient and I am proud that we come out strong on performance. We have entered 2021 in great shape and are well-positioned for an eventful 2021. I am very satisfied with the performance and I firmly believe we have a much stronger company than we had a year ago. The new year, 2021, looks to be a year with a lot of big sports events and my hope is that fans and spectators again will be able to meet at the stadiums to enjoy the games.