New acquisition boosts Better Collective s Q3 results
Better Collective grew revenue 68% year-on-year to €11.1m for Q3, as revenue received from online US sports betting made an impact.
Operating profit (EBITA) rose 71% to €4.8m.
Jesper Søgaard, Better Collective CEO, also attributed Q3 success to cementing another foothold in Europe, after acquiring Greece-based WBS P.C and Malta-based Kapa in August. Both are online marketing providers.
Søgaard said: “We continued executing our M&A (merger and acquisition) strategy during the quarter. Most recently, we completed the Greek acquisition, establishing Better Collective as the leading sports betting affiliate in Greece.
“The current pipeline of new M&A-targets is the biggest we have seen since we added this leg to our growth strategy.”
The supplier saw a growth of 102% in new depositing customers (NDCs) to 67,000 in the period.
Søgaard said: “I am very pleased with the significant growth in NDCs– a growth that was disproportionately higher compared to the revenue growth.
“As most NDCs are on revenue-share based contracts I expect this to support future growth.”
In the first nine months of 2018, Better Collective increased revenue year-on-year by 68% to €28.3m. Organic revenue growth for this period was 19%.
Year to date net profit after tax was €2.3m, down from last year’s figure of €5m.