Better Collective, the digital sports media group, released a new trading update, highlighting strong growth observed in the final quarter of 2024 and overall solid results for the full year 2024.
Company Revenue Grows in Q4, 2024
The company announced Wednesday its interim report, confirming that it wrapped up 2024 with €96 million ($100.3 million) in revenue reported for the fourth quarter of the year. Comparison to the corresponding period showed that Q4 2024 revenue increased by 13%.
Not unexpectedly, EBITDA before special items in Q4 2024 increased as well. In total, Better Collective reported EBITDA before special items of €34 million ($35.5 million), a figure that signaled a 14% year-over-year increase.
Focusing on the full-year results, the company also reported strong growth in terms of revenue. For the full year 2024, Better Collective’s revenue soared by 14% year-over-year to €371 million ($387.6 million).
Per the recent interim report, EBITDA before special items for the full year 2024 hit €113 million ($118.1 million). This result, when compared to the 2023 figure, points to a slight increase of 2%.
Better Collective Focuses on Organic Growth
Besides financial details, Better Collective released its 2025 guidance. The company expects revenue between €320 million ($334.3 million) and €350 million ($365.6 million) for the period. On the other hand, EBITDA before special items is expected to be in the range of €100 million ($104.5 million) to €120 million ($125.3 million).
Jesper Søgaard, Better Collective’s CEO, spoke about the importance of the markets in the United States and Brazil for the company. He explained that those two markets quickly started to contribute, ultimately helping generate more than half of the 2024 revenues.
Moreover, Søgaard added: “We have strategically leveraged our strong organic and inorganic growth performance to secure leading positions in these growing markets for Better Collective.” While the CEO acknowledged some challenges during the second half of 2024, he said that Better Collective remains optimistic about its long-term growth in Brazil and the US.
“In just a few years, Brazil and the US have emerged as key growth drivers for our business, now representing more than half of our 2024 Group revenues.“
Jesper Søgaard, co-founder and CEO at Better Collective
The executive added: “I am pleased with the growth we saw over the year in key areas, including our Europe, Canada, and South American businesses, as well as the advancements we made in our esports business.” Last but not least, Søgaard said Better Collective will focus on further growth and development, adding that the company will try to seize new opportunities.
Better Collective also released an update on its long-term guidance. While in 2023, the company set out a path of growth via mergers and acquisitions, as well as organic growth, it has now adjusted its 2027 guidance. Per the update, in light of challenges in the US and Brazil, the company confirmed it will focus on organic growth, leaving potential mergers and acquisitions outside of the equation.
