Better Collective Surpasses 2023 Revenue Targets, Eyes Double-Digit Growth
Date: 2024-02-22 Author: Dima Zakharov Categories: EVENTS
Better Collective's 2023 Performance
Better Collective has revealed its impressive financial performance for the year 2023, surpassing revenue targets and aiming for further expansion. The company reported revenue of €327 million, a 21% increase from the previous year, exceeding its target range of €315 million to €325 million.
The affiliate group also witnessed a notable surge in recurring revenue, reaching €189 million, reflecting a 47% increase year-on-year. Moreover, Better Collective achieved an EBITDA of €111 million, marking a 31% rise compared to the previous year and aligning with its strategic objectives.
Q4 2023 Highlights
In the fourth quarter of 2023, Better Collective achieved revenues of €85 million, meeting its targets for the year. Despite a slight decline compared to the same period in 2022, the company maintained a robust EBITDA margin of 35%. Better Collective attributed the decrease in EBITDA to the ongoing transition to revenue sharing in the US market.
Acquisitions and Strategic Moves
Better Collective expanded its portfolio through strategic acquisitions, notably acquiring Playmaker Capital for €176 million. This move aims to strengthen the company's presence in North America and establish market leadership in South America. The acquisition prompted Better Collective to revise its financial targets for 2023-2027, aiming for an EBITDA margin of 35%-40%.
Outlook for 2024
Building on its successful performance in 2023, Better Collective has set ambitious targets for 2024. The company aims to achieve revenues ranging from €390 million to €420 million, signaling growth of 19%-29%. Additionally, Better Collective targets a 13%-22% increase in EBITDA, aiming to generate €125 million to €135 million while maintaining a healthy debt-to-EBITDA ratio.
Better Collective anticipates a steady ramp-up from its Playmaker Capital acquisition, expecting it to contribute significantly to future growth. With its continued strategic investments and strong financial performance, Better Collective remains poised for sustained expansion in the competitive affiliate marketing landscape.
