Better Collective reports 51% revenue rise as M&A strategy pays off
Affiliate firm also sees profits up 49% despite cost of “significant compliance upgrades”
Better Collective today reported an annual revenue increase of 51% to €26.3m, despite the cost of “significant compliance upgrades” implemented by the affiliate firm’s operator partners in 2017.
EBITDA grew 49% year-on-year to €10.6m, with the uptick in profit primarily driven by acquisitions which have performed better than expected.
Better Collective spent €26.4m on eight acquisitions and mergers throughout 2017, while cash flow from operations rose to €9.1m from €8.2m in 2016.
The firm established its presence in Denmark and branched out to markets in France, Austria and Romania last year after acquiring the brands SportFreunde, Pull Media and PariuriX.
In its FY17 annual report, Better Collective said: “We can now say with confidence that we have a proven acquisition model.
“Acquiring companies is resource demanding, especially in the integration phase after a transaction is closed.
“New colleagues are welcomed, products integrated, and synergies harvested, and we have acquired both smaller and larger operations in their numbers.
“However, they proved to deliver to our expectations – some even beyond.”
Better Collective CEO Jesper Søgaard
Better Collective CEO Jesper Søgaard said: “2017 was a remarkable year for Better Collective.
“We entered the year with an ambitious plan and with a great effort, we delivered on both the strategic and financial objectives.
“For the first time since the foundation, we really went beyond the organic growth path and started executing our M&A-strategy.
“We launched new innovative products, expanded our office premises significantly, and lifted the company to new standards on all levels,” he added.
Better Collective has shown no signs of slowing down on its aggressive M&A strategy during 2018, having recently purchased affiliate businesses in Poland and Finland.
The firm also announced its first content partnership with an exchange operator in February after agreeing to provide Matchbook with tips and analysis from bettingexpert.com.