Better Collective A/s · OMXCOP:BETCO_DKK
Better Collective A/s — Q1 2025 Earnings Presentation
17 slides from Better Collective A/s's earnings presentation, May 22, 2025
Slide 1: Q1 2025 Webcast presentation
Q1 2025 Webcast presentation
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
Slide 3: Q1 highlights and business update
Q1 highlights and business update By Jesper Søgaard Co-CEO & co-founder
Slide 4: Better Collective navigates market challenges while initiating changes to drive future growth
Better Collective navigates market challenges while initiating changes to drive future growth 2025 Q1 highlights Group revenue down 13% as NA revenue as expected, Brazil activity and player expected impacted by last year’s NC state migration higher than expected launch and lower marketing EBITDA dow
Slide 5: The Brazilian market kicked off better than expected, while the US met expectations
The Brazilian market kicked off better than expected, while the US met expectations Market update: Brazil and US Market regulated since January 2025; soccer season started end of March Performance in line with expectations Player migration and activity better than expected Focus remains on sending r
Slide 6: The new BC introduces a simplified structure and Co-CEO leadership
The new BC introduces a simplified structure and Co-CEO leadership The New BC New structure Flagship brands Co-CEOs ● Restructured to enhance Jesper scalability and global integration ● Move away from geography-based structure, reducing complexity and Strategic initiatives scale best practices Christ
Slide 7: Financial performance
Financial performance By Flemming Pedersen EVP & CFO
Slide 8: Regulatory changes in Brazil take effect as expected and US activity reduced
Regulatory changes in Brazil take effect as expected and US activity reduced Revenue & EBITDA development, LTM & quarterly, 2023-2025 8
Slide 9: BC's long-term strategy to focus on recurring revenue remains despite short term impact from Brazil
BC's long-term strategy to focus on recurring revenue remains despite short term impact from Brazil Recurring revenue development, quarterly, 2022-2025 (mEUR) 9
Slide 10: Regulatory changes, market shifts, and sports win margins impacted revenue
Regulatory changes, market shifts, and sports win margins impacted revenue, partly offset by business growth, full acquisition effects and FX Main revenue impacts, Q1 2025 1 1 1. North Carolina 10
Slide 11: The cost efficiency program is paying off and partially offsetting revenue losses
The cost efficiency program is paying off and partially offsetting revenue losses Main EBITDA impacts, Q1 2025 4 mEUR yoy impact from Playmaker Capital acquired February 2024 and FX Reflecting revenue impacts on previous slide 11
Slide 12: The cost efficiency program and growth forecast are on track
The cost efficiency program and growth forecast are on track, and we remain confident in our projections for 2025 2025 EBITDA guidance Unrecognised future revenue share income built up during 2025 Estimated tax (GGR) 1 and costs on NGR Estimated player churn 1. Europe & RoW (excl. Brazil) 2. US activit
Slide 13: Better Collective launches a second 10 mEUR buyback in 2025
Better Collective launches a second 10 mEUR buyback in 2025, while canceling 1.8% of capital Capital allocation February April May / May August 20th 16th June 22nd 26th Initiation of Share buyback Cancellation of Initiation of Completion of share buyback completed shares share buyback share buyback
Slide 14: Our 2025 and long-term guidance remains unchanged
Our 2025 and long-term guidance remains unchanged 2025 and 2027 guidance 2025 2027 • Revenue: €320m-€350m • Revenue: Positive organic 1 • EBITDA : €100m-€120m growth from 2026 • Free cash flow: €55-€75m • EBITDA1 margin: 35-40% • Net debt to EBITDA: <3x • Net debt to EBITDA: <3x 1. Before special ite
Slide 15: Key takeaways
Key takeaways By Jesper Søgaard Co-CEO & co-founder
Slide 16: The year started better than expected, and we remain confident in BC's future
The year started better than expected, and we remain confident in BC's future, driven by The New BC Key takeaways Revenue & EBITDA as expected Cost efficiency program on track Good start in Brazil - although early days, NA as expected The New BC: New structure focusing on three global BUs: Publishing,
Slide 17: Q&A
Q&A Contact: Mikkel Munch-Jacobsgaard VP Investor Relations & Corporate Communication investor@bettercollective.com www.bettercollective.com