Better Collective FY 2023 revenue set to beat guidance

Better Collective is set to exceed its full-year (FY) 2023 revenue target after posting a brief, unaudited figure of €327m for the year.

In a trading update ahead of a full release later this month, the Danish affiliate giant said revenue had surpassed its previous target of between €315m and €325m.

The expected €327m total also outstrips the group’s initial FY 2023 target of between €290m and €300m which was then upgraded to the aforementioned range.

The target was increased due to “strong operational performance and accretive acquisition”, according to the firm.

In terms of EBITDA, Better Collective is expecting the figure to land at €111m.

This would put EBITDA at the upper end of the affiliate’s guidance of between €105m and €115m.

Similarly to revenue, Better Collective increased its EBITDA guidance during 2023 from an initial range of between €90m and €100m.

In the final part of the update, Better Collective said the net debt to EBITDA ratio was below 2x, in line with in-house targets.

The affiliate will release its full financial report for 2023 on 21 February.

The news of the financial performance for FY 2023 comes after the group finally completed the acquisition of Playmaker Capital earlier this week.

The Americas-facing media brand will now become a wholly owned subsidiary of Better Collective.

Jesper Søgaard, Better Collective CEO, said the transaction marked a “significant step” in the company’s journey to become the leading digital sports media group.