Better Collective A/s · OMXCOP:BETCO_DKK

Better Collective A/s — Q4 2025 Earnings Presentation

17 slides from Better Collective A/s's earnings presentation, Feb 26, 2026

  1. Slide 1: Annual report 2025 Webcast presentation

    Annual report 2025 Webcast presentation

  2. Slide 2: Forward-looking statement

    Forward-looking statement This presentation contains certain forward-looking statements and opinions. Forward-looking statements are statements that do not relate to historical facts and events and such statements and opinions pertaining to the future that, for example, contain wording such as “beli

  3. Slide 3: Agenda

    Agenda I Business update and FY highlights II Financial performance and guidance update III Key takeaways Jesper Søgaard Flemming Pedersen Mikkel Munch-Jacobsgaard Co-Founder & Co-CEO EVP & CFO VP Investor Relations & Group Communication 3

  4. Slide 4: 2025 highlights and business update

    2025 highlights and business update By Jesper Søgaard Co-CEO & Co-Founder 4

  5. Slide 5: Executing through headwinds and positioning for renewed growth

    Executing through headwinds and positioning for renewed growth 2025 full year highlights Strategic transformation year: simplified model, improved scalability, delivered 50 mEUR efficiency programme Delivered on full year guidance despite significant external headwinds AI-driven innovation with Playbook

  6. Slide 6: Q4 delivered constant currency revenue growth and record EBITDA

    Q4 delivered constant currency revenue growth and record EBITDA 2025 Q4 highlights Revenue 94 mEUR (-2% YoY; +2% in constant currencies) while impacted by sports win margin Record EBITDA1 37 mEUR (39% margin), +10% YoY Brazil revenue share developed ahead of expectations post regulation North Americ

  7. Slide 7: Profitable growth has always been our core focus

    Profitable growth has always been our core focus Revenue & EBITDA development, yearly, 2018-2025 1. Before special items 7

  8. Slide 8: Innovation through Playbook and FanReach

    Innovation through Playbook and FanReach Scaling fan engagement and monetization through AI ◆ Launched 2025 ◆ FanReach is a core pillar of our AdVantage ecosystem ◆ Millions of bets referred to partners ◆ Initial 50m+ U.S. reach ◆ Higher engagement and conversion ◆ Authenticated first party data adva

  9. Slide 9: 2026 return to growth

    2026 return to growth 2026 and 2027-2028 guidance 2026 2027-2028 • Revenue: 7%-12% organic • Revenue: Positive organic growth growth • EBITDA1 margin: 35-40% • EBITDA1: 8%-18% growth • Continued strong cash conversion • Annual SBB of 40 mEUR • Net debt to EBITDA: <3x • Net debt to EBITDA: <3x 1. Bef

  10. Slide 10: Financial performance

    Financial performance By Flemming Pedersen EVP & CFO 10

  11. Slide 11: Underlying growth offset external headwinds in Q4

    Underlying growth offset external headwinds in Q4 Revenue impact, Q4 2024-Q4 2025 (mEUR) 11

  12. Slide 12: Revenue share continues to drive the majority of recurring revenue

    Revenue share continues to drive the majority of recurring revenue Recurring revenue development, quarterly, 2022-2025 (mEUR) Revenue share Other recurring revenue 12

  13. Slide 13: All time high Q4 EBITDA driven by cost discipline

    All time high Q4 EBITDA driven by cost discipline EBITDA1 impact, Q4 2024-Q4 2025 (mEUR) 1. Before special items 13

  14. Slide 14: All time high deposit values - despite Brazil regulatory transition

    All time high deposit values - despite Brazil regulatory transition Quarterly # of NDC (‘000) and value of deposit development (mEUR), global, 2020-2025 # of NDCs (‘000) Value of deposits (mEUR) Reading aid: Deposit values are +7% reported per quarter: Q4 25 was ~820 mEUR 14

  15. Slide 15: Strengthened funding position and clear capital allocation framework

    Strengthened funding position and clear capital allocation framework Financial flexibility and capital allocation priorities New 319 mEUR three year committed bank facility with 80 mEUR accordion + separate 50 mEUR M&A facility 2025 free cash flow; working capital timing and growth investments Capital

  16. Slide 16: Structural progress in 2025 and return to growth in 2026

    Structural progress in 2025 and return to growth in 2026 Key takeaways Q4 revenue 94 mEUR; record EBITDA1 37 mEUR with 39 percent margin North America delivered 17 mEUR pure revenue share, exceeding expectations Value of Deposits reached record 820 mEUR Playbook and FanReach scaling monetisation 202

  17. Slide 17: Q&A

    Q&A Contact: Mikkel Munch-Jacobsgaard VP Investor Relations & Corporate Communication investor@bettercollective.com www.bettercollective.com

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