Better Collective, an affiliate group, has announced that it is on track to exceed revenue expectations for the 2023 financial year, with its EBITDA projected to be at the upper end of its guidance. The company anticipates that its revenue for the year ending December 31, 2023, will be approximately €327m, which is higher than the initial forecast of between €315m and €325m. Additionally, it expects its EBITDA to reach €111m, which is towards the higher end of its target range of €105m to €115m.
Despite increasing its guidance twice during the year, Better Collective has managed to surpass its full-year revenue expectations due to strong operational performance and accretive acquisitions. The company initially started the year with a revenue guidance of €290m to €300m before increasing it to €305m to €315m, and finally to €315m to €325m in June. Similarly, its EBITDA guidance began at €90m to €100m before rising to €95m to €105m and then to €105m to €115m.
In terms of mergers and acquisitions, Better Collective has had a busy year. In 2023, the company made several key acquisitions, including the advertising company Skycon Limited, Tipsbladet.dk and Torcedores.com in Denmark and Brazil, respectively, as well as Swedish brands SvenskaFans.com, HockeySverige.se, Fotbolldirekt.se, and InnebandyMagazinet.se. Additionally, it acquired Playmaker HQ in July 2023 for $54m, which creates original entertainment and sports content. It also closed its acquisition of Toronto-based digital sports media business Playmaker Capital, valued at €176m, in November.
Better Collective is scheduled to release its Q4 and full-year report on February 21st.