Regulatory release no. 21 Highlights second quarter 2019 Q2 Revenue grew by 64% to 15,834 tEUR (Q2 2018: 9,662 tEUR). Organic revenue growth was 18%. The growth was supported by the strong NDC-performance in recent quarters.Q2 EBITA before special ...
Regulatory release no. 21
Highlights second quarter 2019
- Q2 Revenue grew by 64% to 15,834 tEUR (Q2 2018: 9,662 tEUR). Organic revenue growth was 18%. The growth was supported by the strong NDC-performance in recent quarters.
- Q2 EBITA before special items increased 77% to 6,789 tEUR (Q2 2018: 3,843 tEUR). The EBITA-margin before special items was 43%. Net special items relating to adjustments to earn-out payments and M&A-activities were -95 tEUR.
- Cash Flow from operations before special items was 6,601 tEUR (Q2 2018: 3,733 tEUR), an increase of 77%. The cash conversion was 93%. End of Q2, capital reserves stood at 77 mEUR including cash of 17 mEUR and unused bank credit facilities of 60 mEUR.
- New Depositing Customers (NDCs) exceeded 111.000 in the quarter (growth of 60%).
- Strong position in the US market established:
- Acquisition of 60% of the shares in Rical LLC (the RotoGrinders Network) for 21 mUSD. In the period 2022-2024, Better Collective will acquire the remaining 40% of the shares of RotoGrinders at a valuation based upon an EBITDA multiple between 5x and 10x.
- New Jersey Division of Gaming Enforcement deemed Better Collective USA’s application for an Ancillary Casino Service Industry Enterprise License complete and with that, the company can start working on partnerships based on a revenue share model.
- New media partnership division established and agreement with NJ Advance Media LCC was signed for Better Collective to deliver its innovative technology and content for sports betting and casino on nj.com.
- In July, after the end of Q2, Better Collective has, through a wholly-owned US subsidiary, completed the acquisition of the assets of Florida based Vegasinsider.com and Scoresandodds.com for a total transaction price of 20 mUSD that was paid in cash.
- Credit facilities were expanded by 300 mDKK (approximately 40 mEUR), whereby the total credit facilities amount to 625 mDKK (approximately 84 mEUR).
Highlights first six months 2019
- In the first half of 2019, revenue grew by 79% to 30,739 tEUR (YTD 2018: 17,214 tEUR). Organic revenue growth was 28%.
- In the first half of 2019, EBITA before special items grew by 124% to 13,310 tEUR (YTD 2018: 5,931 tEUR). The EBITA-margin before special items was 43% in H1. Special items (adjustments to earn-out payments and M&A costs) were -182 tEUR, resulting in earnings (EBITA) after special items of 13,127 tEUR.
- Cash Flow from operations before special items was 14,161 tEUR (YTD 2018: 6,215 tEUR), an increase of 127%. The cash conversion rate before special items was 102%.
- New Depositing Costumers (NDCs) exceeded 228,000 in the first half year (growth of 95%).
- Organisation; new offices were established in the US (Nashville, New York, Fort Lauderdale), UK and Poland. The average number of employees in the quarter grew from 179 to 304.
A telephone conference will be held at 9.00 a.m. CET on the same day by CEO Jesper Søgaard and CFO Flemming Pedersen. The presentation will simultaneously be webcasted, and both the telephone conference and the webcast offer an opportunity to ask questions.
Dial in details for participants:
Confirmation Code: 7569449
Denmark: +45 32 72 80 42
Sweden: +46 (0)8 50692180
United Kingdom: +44 (0)8445718892
Webcast link: https://edge.media-server.com/mmc/p/kgj96u2g
Jesper Søgaard, CEO of Better Collective, commented: “I am pleased to report that growth in Q2 was strong compared to the same quarter last year. With the execution of two US acquisitions and a media partnership,
Better Collective has firmly established its presence in the emerging US sports betting market. The US operation is likely the biggest growth driver in the years to come.”
CEO: Jesper Søgaard
CFO: Flemming Pedersen
Investor Relations: Christina Bastius Thomsen +45 2363 8844 email@example.com
This information is such information as Better Collective A/S is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 8.00 a.m. CET on August 14, 2019.
About Better Collective
Better Collective’s vision is to empower iGamers through transparency and technology – this is what has made them the world’s leading developer of digital platforms for betting tips, bookmaker information and iGaming communities. Better Collective’s portfolio includes more than 2,000+ websites and products. This includes bettingexpert.com, the trusted home of tips from expert tipsters and in-depth betting theory. Better Collective is headquartered in Copenhagen, Denmark and listen on Nasdaq Stockholm (BETCO).
Source(s) : Better Collective A/S
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