In 2018, a prominent sports wagering media enterprise, Better Collective, witnessed its annual income surge by 54% to €40.5 million (approximately $45.8 million), flawlessly matching the organization’s forecasts.
Their earnings before interest, taxes, depreciation, and amortization (EBITDA) prior to deducting extraordinary items escalated by a remarkable 47% to €16 million. Nevertheless, expenditures associated with exceptional items, their initial public offering (IPO), and mergers and acquisitions amounted to €4 million. This lowered their EBITDA to €12 million. In spite of this, Better Collective’s total operating income for 2018 experienced a minor decline of 8%, settling at €9 million, while their profit after taxes dwindled by 27% to €5.4 million.
Throughout the final quarter of 2018, the firm generated €12 million in revenue, signifying a robust 30% rise compared to the corresponding period the preceding year. Their EBITDA, before incorporating extraordinary items, underwent a substantial leap of 51% in Q4, hitting €5.3 million. However, exceptional item expenses totaled €11.4 million, leading to an EBITDA of €5.2 million.
Jesper Søgaard, Chief Executive Officer of Better Collective, stated, “We sustained a powerful expansion course in the fourth quarter. However, as foreseen, natural revenue growth tempered compared to the remarkably robust performance in the fourth quarter of 2017. This can be ascribed to the inherent cyclicality of our operations, the schedule and results of major athletic competitions, and our substantial growth in new depositing clients, all of which directly influence revenue. We attained our objectives for 2018 and are fully prepared for 2019.”