Better Collective raises FY2023 targets following strong H1
Danish affiliate increases financial targets with above-expected performance in the Americas and its media partnerships
Better Collective has upgraded its full-year 2023 financial targets after “strong momentum” from its record-breaking Q1 carried over into Q2.
The first quarter saw the group post record revenue of €87.9m (£76.6m), a 30% year-on-year (YoY) rise of which 23% was organic.
Momentum has carried into Q2 for the affiliate, with above expected performance from the Americas, various media partnerships and improved sports win margin.
The Danish company has now announced revenue targets for 2023 of between €315m and €325m. The previous target was between €305m and €315m. This would represent 17% to 21% YoY growth in revenue.
Better Collective has also set a target of €105m to €115m, up from €95m to €105m for full-year 2023 EBITDA. The new target implies YoY growth of 24% to 35%.
Better Collective’s net debt to EBITDA target before special items stays the same at <2.0.
The company will release its Q2 report on 22 August.