Better Collective, an affiliate group of the Better Collective Group has announced that it will surpass its revenue guidance for 2023 while EBITDA is expected to be higher than previously stated.
Better Collective has forecast that revenue for the fiscal year ending 31 December 2023 will be around EUR327m ($353m/PS279m). Better Collective forecast revenues between EUR315m (£279m) and EUR325m ($353m) for the entire year.
EBITDA is expected to be EUR111m in 2023. Better Collective stated that this is in the upper range of their target of EUR105m-EUR115m.
The group also says that net debt to EBITDA prior to special items is expected be lower than 2.0. This aligns with the guidance.
Better Collective has exceeded its full-year guidance despite having raised it twice. After a strong performance in 2023, the group increased its revenue guidance to EUR290m-EUR300m.
First, the guidance was raised from EUR305m up to EUR315m. This will be increased to EUR315m and EUR325m in June. EBITDA guidance started at EUR90m – EUR100, then EUR95m – EUR105m and EUR105m – EUR115m.
M&A for Better Collective
Better Collective was very active in the M&A arena last year. In 2023, the advertising company Skycon Limited was acquired for as much as PS45m in April.
Last year, Better Collective also acquired the sports media platforms Torcedores.com and Tipsbladet.dk in Brazil. It also acquired SvenskaFans.com, HockeySverige.se, Fotbolldirekt.se and InnebandyMagazinet.se, all of which are Swedish brands.
Playmaker HQ was also acquired by Playmaker in July 2023, for $54 million. Playmaker HQ produces original sports and entertainment content.
Better Collective closed the acquisition of Playmaker Capital, a digital sports media company based in Toronto. In November, the group signed a contract to purchase Playmaker Capital for EUR176m.
Better Collective will release their Q4 report and annual full-year report on the 21st of February.