Better Collective reports record income; strong growth in


Regulatory notice no. 27/2021
August 24, 2021

Interim report January 1 – June 30, 2021

Highlights second quarter 2021

  • Group revenue in Q2 increased by 162% to EUR 40,009 (Q2 2020: EUR 15,253). Organic revenue growth is 47%.
  • The US business had a strong performance, even before the inclusion of Action Network, posting NDC performance and revenue comparable to a strong Q1 2021, despite Q2 being the low season.
  • Group EBITDA before exceptional items in the second quarter increased by 90% to EUR 12,662 (Q2 2020: EUR 6,672). The EBITDA margin before special items was 32% (Publishing segment 43% and Paid media segment 11%).
  • Special items include the cost related to the acquisition of Action Network of EUR 5.3m.
  • Operating cash flow before exceptional items amounted to 11,069 tEUR (Q2 2020: 10,363 tEUR), an increase of 7%. The conversion to cash was 93% after a conversion rate of 121% in the first quarter. At the end of the 2nd quarter, capital reserves amounted to EUR 69m including EUR 40m of cash and unused bank credit lines of EUR 29m.
  • New Filing Customers (NDCs) were 197,000 in the quarter with implied growth of 179%, setting a new quarterly record.
  • Partnerships with the media recorded exceptional performance with over 38,000 NDC. Three new media partnerships were signed.
  • Price supplements of EUR 1.2m in cash and EUR 0.9m in shares were paid in connection with the acquisition of HLTV in 2020 and the achievement of pre-granted financial performance.
  • At the AGM, Therese Hillman, CEO of NOD and former CEO of the NetEnt Group, was elected to the board of directors.
  • Better Collective acquired America’s leading sports betting media platform, Action Network, for EUR196m (USD 240m), gaining market leadership in the sports betting media in the United States.
  • Better Collective resolved a managed share issue of 6.9 million shares, raising proceeds of EUR 145m to maintain financial flexibility.
  • For the fourth year in a row, Better Collective is at the top of the prestigious EGR Global Power Affiliates 2021 ranking.

Financial highlights for the first half of 2021

  • In the first half of 2021, sales increased by 118% to 78,845 tEUR (YTD 2020: 36,174 tEUR).
  • In the first half of 2021, EBITDA before exceptional items increased by 64% to EUR 25,855 (YTD 2020: EUR 15,718). The EBITDA margin before exceptional items was 33%.
  • Operating cash flow before exceptional items amounted to EUR 27,171 (YTD 2020: EUR 19,814), an increase of 37%. The conversion rate to cash before special items was 107%. At the end of the second quarter of 2021, cash and unused credit facilities amounted to EUR 69m.
  • New depositing clients (NDCs) exceeded 371,000 in the first half of the year (growth of 99%).

Significant events subsequent to the end of the period

  • Sales for July reached 12.4m EUR, more than double that of July 2020, with organic growth of 13%. Sales for July 2021 were negatively impacted by an extraordinarily low margin for sporting victories, especially in the context of the finalization of EURO2020. This has to be seen in light of a comparison month of July 2020, which was positively impacted by the postponement of sporting events due to COVID-19 and an above average sporting victory margin.

Financial goals
The annual financial targets remain unchanged.

Jesper Søgaard, co-founder and CEO of Better Collective, commented:
The second quarter nevertheless marks a record quarter in terms of turnover and NDC delivered to our partners. At the same time, we continue to achieve strong profitability and cash flow. This solid performance is notably driven by activity in the United States and by our partnerships with the media, which experienced exceptional performance during the second quarter. The highlight of the quarter was the closing of our largest acquisition to date, Action Network, which is a game changer and solidifies our position as the leading sports betting media in the United States.

Conference call
A conference call will be organized today at 10:00 am CET by CEO Jesper Søgaard and CFO Flemming Pedersen. The presentation will be webcast simultaneously, and the conference call and webcast provide an opportunity to ask questions.

Dial details for participants

Confirmation code: 7994289
Denmark: +45 32 72 04 17
Sweden: +46 (0) 8 56618467
UK: +44 (0) 8444819752

Webcast link https://edge.media-server.com/mmc/p/j6fny8zy

Inquiries regarding this announcement should be directed to
Investor contact: Christina Bastius Thomsen, +45 2363 8844, [email protected]

Media contact: Morten Kalum, +45 2349 1009, [email protected]

This information is information that Better Collective A / S is obliged to make public under the EU Market Abuse Regulation. The information has been submitted for publication, through the contact person indicated above, on May 12, 2021 at 8:00 a.m. CET.

About Mieux Collectif
Better Collective is a global sports betting media group providing platforms that enhance and improve the betting experience for sports fans and iGamers. Aiming to make betting and gambling more entertaining, transparent and fair, Better Collective offers a range of editorial content, bookmaker information, data information, betting tips, iGaming communities and tools. educational. Its platform portfolio includes Bettingexpert.com, VegasInsider.com, HLTV.org and Action network. Better Collective is headquartered in Copenhagen, Denmark, and is listed on Nasdaq Stockholm (BETCO). More information at bestcollective.com.

  • British Columbia Regulatory News Release # 27_2021 T2 2021 2021.08.24

  • BC_Q2_rapport_2021


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