Regulatory release no. 16
Highlights third quarter 2018
- Q3 Revenue grew by 68% to 11,134 tEUR (Q3 2017: 6,642 tEUR). Organic revenue growth was 15%.
- Q3 EBITA before special items increased 69% to 4,760 tEUR (Q3 2017: 2,816 tEUR). The EBITA-margin before special items increased from 40% in Q2 to 43%. Special items was -113 tEUR, resulting in an EBITA after special items of 4,647 tEUR.
- Cash Flow from operations before special items was 3,532 tEUR (Q3 2017: 3,169 tEUR), an increase of 11%. The cash conversion rate adjusted for special items was 71%. The cash flow was negatively impacted from increased working capital in the quarter.
- New Depositing Customers (NDCs) exceeded 67,000 in the quarter (growth 102%).
- On July 31, 2018, the leading Greek sports betting affiliate was taken over, at a price of up to 4.4 mEUR, net of cash and working capital adjustment.
- First revenue from US online sports betting recognised.
Financial highlights first nine months 2018
- In the first nine months of 2018, revenue grew by 68% to 28,348 tEUR (YTD 2017: 16,889 tEUR). Organic revenue growth was 19%.
- In the first nine months of 2018, EBITA before special items increased 45% to 10,690 tEUR (YTD 2017: 7,378 tEUR). The EBITA-margin before special items was 38% for the first nine months, resulting from 28% in Q1, growing to 40% in Q2, and 43% in Q3. Special items was -3,966 tEUR, resulting in an EBITA after special items of 6,724 tEUR.
- Cash Flow from operations before special items was 9,747 tEUR (YTD 2017: 6,775 tEUR), an increase of 44%. The cash conversion rate before special items was 85%.
Conference call
A conference call for investors, analysts and media will be held today, November 23, 2018, at 10:00 a.m. CET and can be joined online link. Presentation material for the call will be available on the website one hour before the call.
To participate, please dial:
Confirmation code 3538267
The UK: +44 (0)330 336 9411
Denmark: +45 35 15 81 21
Sweden: +46 (0)8 5065 3942
Jesper Søgaard, CEO of Better Collective, commented: “In Q3, we continued to recognise significant and profitable growth, where we, once again, managed to increase the operational earnings-margin, while at the same time launching a number of new US focused products. We are also very pleased with the significant growth in NDCs (new depositing customers) and with the first revenue streams coming from the US”.
Contact
CEO: Jesper Søgaard
CFO: Flemming Pedersen
Investor Relations: Christina Bastius Thomsen +45 2363 8844 investor@bettercollective.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 November 23, 2018.
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, and SmartBets, the odds comparison platform made personal.
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