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Better Collective reports organic revenue growth of 19% in Q1

Published

4 years ago

May 12, 2021

George Miller

Reading Time: 3 minutes

Interim report January 1 – March 31, 2021

Highlights first quarter 2021

Q1 revenue grew by 86% to 38,836 tEUR (Q1 2020: 20,921 tEUR). Organic revenue growth was 19%. The revenue split was 61% from Publishing and 39% from Paid Media.
Q1 EBITDA before special items increased 46% to 13,193 tEUR (Q1 2020: 9,045 tEUR). The EBITDA-margin before special items was 34%. EBITDA-margin was 51% in Publishing and 7% in Paid Media. The margin in the Paid Media segment was significantly impacted by the switch from pure CPA to hybrid revenue models at a cost of approx. 2 mEUR. Excluding these impacts, the margin would have been 19%.
Cash Flow from operations before special items was 16,102 tEUR (Q1 2020: 9,451 tEUR), an increase of 70%. The cash conversion was 121% due to an improvement of debtors and other short debt. End of Q1, capital reserves stood at 50.1 mEUR including cash of 34.8 mEUR and unused bank credit facilities of 15.1 mEUR.
New Depositing Customers (NDCs) was around 180.000 in the quarter (increase of 54%) and is at an all time high.
Better Collective has increased its ownership to 90% of the shares in Mindway AI that specialises in software solutions based on artificial intelligence and neuroscience for identifying, preventing and intervening in at-risk and problem gambling.
Better Collective has strengthened its position in the Swedish sports betting market by acquiring online sports betting media platform, Rekatochklart.com for 3.8 mEUR.

Significant events after the closure of the period

April revenue reached a record 13.1 mEUR, a growth of 185% vs. 2020, of which 51% was organic growth. Organic growth in the Publishing segment was 87% against a weak comparison due to the significant effect on April 2020 by the halt in sports during the COVID lockdown. In the Paid Media segment, organic growth was 14% against a strong comparison, as the halt in sports meant an increase in casino (predominant in the acquired Atemi Group)
On May 3, 2021, Better Collective signed an agreement to acquire 100% of the shares in The Action Network, Inc. for 240 mUSD (198 mEUR) on a cash and debt free basis. With the acquisition of Action Network, Better Collective gains clear market leadership within sports betting media in the US and now expects to increase its revenues in the US to more than 100 mUSD by 2022.
In April, a payment of 1.2 mEUR in cash, and 0.9 mEUR in shares were made to complete the 2020 earn-out payment relating to the acquisition of HLTV.
Following the AGM on April 26, 2021, Therese Hillman was elected to the Board of Directors. Therese is a Swedish national born in 1980. She is the current CEO of NOD, and was until recently Group CEO of NetEnt, a premium game supplier to online casino operators and listed on Nasdaq Stockholm.

Financial targets 2021
The Board of Directors have decided on targets for the financial year 2021 as announced in the full year report. Following the acquisition of The Action Network and contingent on the closing of the transaction in Q2, 2021, the financial targets for 2021 are updated: Total group revenue is now expected to exceed 180 mEUR (previously more than 160 mEUR). Operational profit is now expected to exceed 55 mEUR (previously more than 50 mEUR). Total group organic growth is now expected to exceed 25% (previously more than 20%). See page 10 of the report for more detail.

Jesper Søgaard, Co-founder & CEO of Better Collective, commented: “Q1 was another strong quarter for us with significant revenue growth and an increase in the number of New Depositing Customers of more than 50%. We have continued to strengthen our global market position with the addition of Swedish sports betting media platform, Rekatochklart, and most recently, US sports betting media market leader, Action Network, while also increasing our ownership of Mindway AI to 90% to further expand our initiatives within responsible gambling. We are very pleased with these accomplishments.“

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Brand-new projects debuting at iGB L!VE: Casino&You and Win&You Partners!

Published

59 minutes ago

June 29, 2025

Zoltan Tundik

Reading Time: 2 minutes

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The post Brand-new projects debuting at iGB L!VE: Casino&You and Win&You Partners! appeared first on European Gaming Industry News.

Latest News

Brand-new projects debuting at iGB L!VE: Casino&You and Win&You Partners!

Published

2 hours ago

June 29, 2025

Zoltan Tundik

Reading Time: 2 minutes

Welcome Offer
New players can claim a generous 4-level bonus package worth up to €1,500 / $1,500. Rewards are unlocked through verified accounts, with no hidden fine print.

Payment Flexibility
From Visa and Mastercard to Bitcoin, Ethereum, Tether, and TRON, Casino&You lets players control their deposits and withdrawals.

Please stop by our stand H64 at iGB L!VE 2025 to meet the team and discover what Win&You can do for your traffic.

The doors are open. Let’s win together.

The post Brand-new projects debuting at iGB L!VE: Casino&You and Win&You Partners! appeared first on European Gaming Industry News.

Latest News

Brand-new projects debuting at iGB L!VE: Casino&You and Win&You Partners!

Published

3 hours ago

June 29, 2025

Zoltan Tundik

Reading Time: 2 minutes

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From Visa and Mastercard to Bitcoin, Ethereum, Tether, and TRON, Casino&You lets players control their deposits and withdrawals.