FULLTEXT DEL 2 AV 3
Årsredovisning 2024
Annual report Page 60
Policies (S1-1)
Anchored in our group’s values is a steadfast commit-
ment to respecting and protecting the human and labor
rights of our workforce.
Our human rights commitments are discussed on
page 56 and 101 of the appendices .
As detailed in the table, our policies to manage work-
force topics address the material topics that potentially
can or impact our employees. Combined, these policies
and procedures demonstrate our dedication to uphold-
ing and implementing our values.
We are committed to ensuring that our policies adhere
to internationally recognized standards, reflecting our
dedication to creating a safe, inclusive, and fair work-
place. To address impacts on our workforce, we have
implemented various policies. Our Human Rights policy
explicitly recognizes our responsibility to operate with
respect for human rights and to ensure equal treatment
of all regarding respect and dignity. Our Code of Con-
duct sets clear expectations regarding integrity, re-
spect, and accountability in our workplace, including fair
and transparent employment conditions.
We maintain a management system for workplace pre-
vention, including a Safer gambling policy to support
employee wellbeing. Our Anti -Harassment policy aims
to eliminate discrimination and harassment.
Additionally, our Code of Conduct supports inclusion
and positive action for all , regardless of ethnicity, sen-
iority, nationality, age, gender, education, religious and
political beliefs, sexual orientation, gender identity, dis-
abilities, and diversity of thought, ensuring everyone
feels supported and valued within our group.
We take all reports of discrimination, harassment, un-
lawful actions, or any misconduct that does not align
with our Code of Conduct and Human Rights policy se-
riously. These reports can be submitted through our
Whistleblower system to our Audit Chair or through HR.
Through both channels, investigations are conducted,
impacts are mitigated, and insights are integrated into
our policies and management systems to support future
prevention. Better Collective does not have a supplier
code of conduct.
Better Collective, in its assessment, has not identified
any groups at particular risk of vulnerability and, there-
fore, has not established a specific policy in this regard.
Please read more about the policies for S1 on p. 54-57.
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Annual report Page 61
Engaging with our workforce
about impacts (S1-2)
At Better Collective, we are committed to continuous
engagement with our workforce, ensuring that employ-
ees have a voice in shaping our workplace environment
and informing decisions that affect them. Our approach
is built on structured engagement processes , transpar-
ency, and open communication, allowing us to identify
and address actual and potential impacts on our work-
force. Engagement occurs through formal and informal
channels, including surveys, events, and workshops.
Regular touchpoints such as monthly All-Hands meet-
ings, onboarding and exit surveys, and leadership Q&A
sessions further strengthen our commitment to listening
and acting on employee input. New employees, includ-
ing those welcomed from acquired companies, are in-
troduced to Better Collective and our po licies through
an extensive onboarding program.
We conduct biannual development dialogues between
managers and employees to discuss each employee's
performance and further development. Our leadership
development initiative ensures our managers' continu-
ous professional development to match our business's
ever-changing nature. By supporting our managers'
professional and personal development, we enable them
to identify and deal with challenges in their respective
teams. Ultimately, our People & Culture team and Group
management oversee employee engagement and en-
sure that feedback is integrated into decision-making.
Engagement survey
We incorporate several engagement channels to gather
valuable insights directly from our employees. The Bet-
ter Workplace Evaluation, which is common for all our
offices, helps determine improvement areas and evalu-
ate the effectiveness of our mitigation processes. The
2024 survey received a 90% participation rate across
the group and indicated a healthy and effective work en-
vironment with engaged and highly motivated employ-
ees. The survey resulted in an engagement score of 82%,
representing the levels of ent husiasm and connection
employees have with our group.
The evaluation further captures employees' experiences
and helps determine mitigation approaches, evaluate
effectiveness, gather insights on impacts, address spe-
cific needs, support well-being, and guide initiatives.
Feedback is considered and integrated into policy and
initiative development when applicable. To assess the
effectiveness of our engagement processes, we com-
pare year-on-year results, tracking trends and improve-
ments over time. Feedback is recorded, analyzed, and
communicated to employees, ensu ring they see how
their input has influenced decision-making.
Engagement groups
Our four Employee Resource Groups (ERGs) are cur-
rently inactive but focused on the following:
• Mental well-being and community building
• Culture and celebrations
• Gender balance
• iGaming industry and partnerships
These groups play a role in shaping engagement initia-
tives and advocating for employee -driven improve-
ments. However, as we are currently working to
strengthen our sustainability framework with a strong
focus on measuring success and impacts, resources
have been lacking to drive the ERGs. We recognize that
these groups provide valuable opportunities for em-
ployees to contribute to workplace culture, and as part
of our broader sustainability agenda, we are assessing
how to reintroduce best -structured employee engage-
ment efforts that align with our strategic priorities. Bet-
ter Collective does not have specific measures to gather
insights from potentially vulnerable or marginalized
groups actively.
Process to remediate impacts
(S1-3)
At Better Collective, we are committed to fostering a
transparent and safe work environment where employ-
ees can raise concerns and seek remediation without
fear of retaliation. Our remediation processes include
formal grievance channels. Regular engagement sur-
veys assess employees’ awareness and trust in these
structures, ensuring that employees feel comfortable
raising concerns. We enforce a strict anti-retaliation pol-
icy, protecting employees who report concerns. Addi-
tional legal safeguards are implemented where required
by local laws, reinforcing our commitment to a work-
place culture where employees feel secure when voicing
concerns. Through ongoing training, leadership ac-
countability, and structured feedback mechanisms, we
ensure that all employees know their rights and the
channels available for raising concerns while maintain-
ing a safe and respectful workplace. Additionally, lead-
ership must report any concerns they witness or are
made aware of. These structures provide both formal
and informal ways for employees to engage, raise issues,
and ensure their rights are respected per their employ-
ment contracts and Better Collective’s commitments.
Grievance mechanisms
We have established a grievance mechanism through
our People and Culture team for employees to raise con-
cerns directly. This internal channel is accessible via the
Better Workplace Evaluation or directly with local HR
and office representatives, as detailed in our employee
handbooks.
Our People and Culture team manages the resolution
process on a case -by-case basis, with our Legal and
Compliance team involved if necessary, ensuring issues
are tracked and monitored appropriately. Effectiveness
is overseen by People and Culture, with feedback gath-
ered through employee surveys to assess awareness
and trust in our channels.
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Whistleblower system
Our Whistleblower system is operated externally and al-
lows for the confidential submission of complaints re-
garding employee concerns relating to discrimination,
harassment, or unethical conduct. Accessible via our in-
tranet and website and detailed in our employee hand-
books, this channel ensures employees c an report seri-
ous offenses or suspected offenses with complete ano-
nymity. Our Audit Committee chair tracks and monitors
issues raised, with People and Culture and Legal and
Compliance involved if necessary. The system’s effec-
tiveness is measured annually t hrough social surveys,
where employees provide feedback on their awareness
and trust. Compliance with local legislation is overseen
by our Legal and Compliance team.
Better Collective constantly reviews the effectiveness of
channels through qualitative tracking.
Our approach (S1-4)
Better Collective has not yet established formalized ac-
tions across all material IROs. The company intends to
implement these where relevant in the coming years.
At Better Collective, our policies, procedures, and pro-
cesses form the foundation of our commitment to pre-
venting potential negative impacts while fostering pos-
itive outcomes. These frameworks guide our efforts to
identify, assess, and address material imp acts on em-
ployees, ensuring that our workplace remains healthy,
inclusive, and equitable. By regularly assessing and in-
corporating employee feedback through our engage-
ment mechanisms and formal channels, we ensure that
our efforts align with their needs an d contribute to a
transparent, supportive, and inclusive workplace. Peo-
ple and Culture , in combination with the Sustainability
Board, plays a central role in managing and monitoring
these initiatives, ensuring compliance with our policies
and overseeing progress.
We aim to ensure that our practices do not cause or con-
tribute to significant negative impacts while proactively
addressing diversity, equality, and inclusion risks.
Through these efforts, we remain committed to building
a resilient and people -centric workplace that evolves
with our employees' needs. We handle employee feed-
back following our policies, ensuring compliance with
GDPR and other relevant regulations. Upholding the
highest ethical standards, we prioritize employee well -
being by maintaining confidentiality and fostering a cul-
ture of trust. This enables us to collect honest and c on-
structive input through various engagement channels,
ensuring all employees feel supported, valued, and in-
cluded in shaping our workplace.
Addressing systemic challenges in our industry, such as
gender inequality and fostering a more equitable work-
place, requires a multifaceted and collaborative ap-
proach. At Better Collective, we recognize that chal-
lenges, like the underrepresentation of women in tech
and the sports industry, stem from structural barriers —
such as the lower number of female graduates in rele-
vant fields. Tackling these issues demands industry -
wide efforts, and we are committed to playing an active
role in driving meaningful change through targeted ini-
tiatives, partnerships, and internal improvements.
Working conditions
Overall, we are committed to ensuring good working
conditions and complying with existing regulations and
recognized human rights standards. Our focus remains
on maintaining a high standard of workplace practices
that align with legal requirements and ethical guidelines,
ensuring that all employees are treated fairly and re-
spectfully.
Secure and transparent employment
Better Collective prioritizes secure, transparent employ-
ment with fair wages, clear contracts, and career devel-
opment. Most full-time employees have long-term con-
tracts. Benefits align with local markets, ensuring fair
compensation. We track job stability through tenure,
turnover, and employee feedback, continuously improv-
ing workplace conditions.
Work-life balance
Better Collective prioritizes work -life balance through
flexible work arrangements, remote work policies, and
extra time off. Most employees benefit from a flexible
schedule, with support such as internet allowances and
home office equipment. Managers provide regular
check-ins to ensure workload balance, and we monitor
employee feedback, sick leave, and stress -related ab-
sences.
Health and safety
This material IRO addresses the management of a se-
cure and healthy workplace. For Better Collective, this
encompasses actively promoting a safe and secure
working environment that promotes mental health and
wellbeing, ultimately enhancing job satisfaction. We do
not have a physical production, so the risk of work -re-
lated injuries and accidents is low. However, employees'
health is still very much a factor in having satisfied em-
ployees. Additionally, we are particularly focused on
employees' exposure to gamb ling due to their close
work with betting content.
We prioritize health and safety in compliance with the
regulations and standards in the countries in which we
operate. As such, each office has localized policies fol-
lowing legal requirements and market standards. We
run local health and safety initiatives to assess he alth
and safety risks and generate preventive solutions. On a
corporate level, designated staff members trained in
first aid and fire prevention issue corporate guidelines,
perform workplace evaluations, and maintain the fire in-
structions and evacuation plan(s).
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Annual report Page 63
In 2023, we introduced our “Movin’ May” campaign, and
following positive employee feedback, we continued
this key event in 2024. “Movin’ May” is a month -long
well-being campaign during Mental Health Awareness
Month across all our offices. While only taking place dur-
ing May, every aspect of the campaign is designed to in-
spire and motivate employees to incorporate physical
activity into their daily routines. Internal videos on how
to incorporate more movement into everyday work rou-
tines were launched, including challenges like opting for
the stairs instead of taking the elevator and encouraging
walking & talking, when possible, instead of stationary
meetings. The main event of the “Movin’ May” campaign
is a month-long step count challenge based on team ef-
forts. Hence, collaboration is also an essential aspect of
the campaign. With 426 employees participating across
all offices, we exceeded our goal of 115,000,000 steps
by taking an incredible 129,659,965 steps toward better
mental and physical health.
Being part of the sports- and sports betting industry, we
seek to mitigate the potential negative impact on em-
ployees' mental well- being. To mitigate this, we have
implemented structured initiatives to ensure employees
have the knowledge and tools to navigate safer gam-
bling concerns. In June 2023, we, as a key action, intro-
duced annual mandatory safer gambling training for all
employees across the group, reinforcing awareness of
safer gambling behaviors and providing guidance on
identifying potential signs of problematic gambling
while ensuring that employees know how and where to
seek help if needed.
To further strengthen our approach, we integrated
Gamalyze, a safer gambling software, on our internal
employee platform. This tool helps employees assess
their own gambling behaviors and better understand
potential risks, fostering a more informed and responsi-
ble approach. These initiatives build on our internal safer
gambling policy launched in 2022, which formalized our
commitment to safer gambling education within the
workplace.
Read more on our safer gambling approach on page
74.
Gender equality and diversity
As a group operating at the crossroads between tech-
nology and sports, we acknowledge the structural barri-
ers that contribute to potential gender inequality , in-
cluding disparities in career opportunities. Recognizing
this disparity, initiatives promoting diversity and gender
equality are continuous priorities for our group. At the
same time, diversity is a key driver of opportunity, inno-
vation, and business growth within Better Collective,
strengthening our ability to make better decisions, en-
hance creativity, and attract top talent. To address these
IROs, we have implemented targeted initiatives to miti-
gate the negative impact on gender equality while max-
imizing the positive impact of diversity within our
workforce. We continue refining recruitment strategies,
ensuring hiring managers receive training on inclusive
hiring practices and that job descriptions use gender -
neutral language. This also includes using personality
tests for all hires, except in the US. This ensures objec-
tive evaluation of the individual candidate. Effectiveness
is assessed through workforce diversity metrics and
leadership succession planning reviews. Policies sup-
porting our commitment include a zero -tolerance ap-
proach to workplace harassment, gender diversity in hir-
ing practices, and succession planning that integrates
diversity considerations.
As outlined in our Code of Conduct, we are dedicated to
cultivating a diverse workforce and an inclusive and eq-
uitable work environment. We focus on increasing gen-
der representation at all group levels and fostering
awareness of unconscious bias. Moreover, all employees
participate in mandatory unconscious bias and anti-har-
assment training, reinforcing inclusivity across all group
levels. This training is mandated within the first year of
employment.
We further show our commitment by having signed the
Confederation of Danish Industry’s (DI) Gender Diversity
Pledge along with the UN’s Women Empowerment Prin-
ciples. By joining these initiatives, Better Collective iden-
tifies and makes businesses more diverse. Despite our
efforts, gender representation in top management re-
mains below our target, with 14% of leadership positions
held by the underrepresented gender, while women
made up 31% of our total workforce in 2024. Results that
underscore the need for co ntinued action. T he targets
are aligned with policy goals to improve diversity and
gender equality. The developments are available for all
employees to track the status of the targets on the in-
tranet. However, they are not involved otherwise.
Nevertheless, by embedding gender equality and diver-
sity into our business strategy, we remain committed to
fostering a workplace where all employees have equal
opportunities to succeed while we seek to leverage the
benefits of diversity to drive long-term business growth
and innovation.
Targets (S1-5)
The Executive Management has set specific targets re-
lating to gender diversity but otherwise continuously
evaluates our initiatives and their impacts at appropriate
management levels as part of our business conduct. Our
established processes are anchored within the functions
that have day-to-day responsibility for ensuring adher-
ence to our policies and our continuous engagement
channels and channels to raise concerns. This decision
reflects our commitment to strategic focus and indus-
try-specific priorities. Better Collective has not e stab-
lished specific targets for other identified impacts, risks,
and opportunities outside of Gender equality and diver-
sity, as priorities and strategies may evolve. The Execu-
tive Management and S ustainability Board conduct
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Annual report Page 64
quarterly qualitative reviews compared to prior year to
assess the effectiveness of policies and actions related
to IROs, ensuring alignment with evolving priorities. The
target has been established to address the positive im-
pact associated with Gender Equality under the IRO "Di-
versity".
Annual report Page 64
===== SIDA 65 =====
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Gender distribution (S1-6)
Geographic distribution (S1-6)
Accounting principles
Gender distribution
The total headcount of employees at Better Col-
lective A/S is determined by summing the em-
ployee numbers across all countries of operation,
excluding freelancers and contractors. This data is
as of 31 December 2024.
Gender distribution refers to the number of em-
ployees whose legally recognized gender is female
or male. At Better Collective A/S, the gender dis-
tribution is calculated by adding the total head-
count of women and men separately across all
countries of operation while excluding freelancers
and contractors. These totals are then divided by
the overall headcount for women and men, re-
spectively. This data is as of 31 December 2024.
Geographic distribution
The total number of employees by country for
countries where Better Collective has 50 or more
employees represents at least 10% of its total num-
ber of employees.
Others: All countries with less than 50 employees
and representing less than 10% of the total number
of employees combined.
The geographic distribution of employees is deter-
mined by summing the total headcount of employ-
ees across the specific geographical locations
where our entities operate, based on data from
31 December 2024.
Number of own employees (head count) by gender 2024
Male 1,079
Female 478
Other/not reported 0
% of underrepresented gender 31%
Total Employees 1,557
Number of own employees (head count) 2024
United States 202
Serbia 422
Denmark 229
Others 704
Total Employees 1,557
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Employment characteristics
(S1-6)
Our workforce consists of permanent employees, which
helps attract and retain top talent, creating a knowl-
edgeable and experienced team. This allows us to in-
vest continuously in employee development, and the
reciprocal approach ensures continuity and operational
effectiveness.
Employee turnover (S1-6)
Due to shifting market dynamics, a cost -efficiency pro-
gram was implemented around October 2024, contrib-
uting significantly to the higher employee turnover rate
observed during the reporting period.
Employment characteristics Female Male Other Total
Total employees 478 1,079 0 1,557
Permanent employees 478 1,078 0 1,556
Number of temporary employees by headcount 0 1 0 1
Employee turnover 2024
Employee turnover (no.) 441
Employee turnover % 28%
Accounting principles
Employee turnover
Employee turnover is defined as the cumulative
headcount of employees who have departed from
Better Collective Group, whereas the employee
turnover rate is defined as the proportion of em-
ployees who have left Better Collective Group ex-
pressed as a percentage. The total number of em-
ployees who left Better Collective Group is calcu-
lated by aggregating departures across all loca-
tions of operation during the reporting period, in-
cluding employees who leave voluntarily or due to
dismissal, or retirement.
To determine the percentage of departing em-
ployees, the total number of departing employees
(the "turnover number") is divided by the average
number of employees (the "average headcount")
during the same period, aligning with the annual
reporting method. The average headcount is cal-
culated by aggregating the month-end headcount
of active employees (permanent employees) for
each month in the reporting period and dividing
by the total number of months in the reporting pe-
riod.
Accounting principles
Employment characteristics
Permanent employees are defined as employ-
ees with an indefinite employment contract.
This category includes student assistants and
trainees but excludes freelancers and contrac-
tors. The total number of permanent employees
at Better Collective is calculated by summing
the count of permanent employees across all
our locations. This calculation is based on data
from 31 December 2024.
Temporary employees are defined as employ-
ees whose employment is tied to the completion
of a specific project or has a predetermined du-
ration. This category includes interns but ex-
cludes freelancers and contractors. The total
number of temporary employees at Better Col-
lective is calculated by aggregating the num-
bers of temporary employees across all our lo-
cations. This calculation is based on data from 31
December 2024.
Non-guaranteed employees are defined as em-
ployees who are employed without a guarantee
of a minimum or fixed number of working hours.
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Gender distribution top
management
(S1-9)
Age distribution
(S1-9)
Accounting principles
Gender distribution top manage-
ment
Top management is defined as executive man-
agement and their direct reports. Executive man-
agement comprises the highest administrative
and supervisory level. Direct reports are employ-
ees reporting directly to executive management
with managerial responsibilities at the vice presi-
dent and senior vice president job levels who are
part of the group management team. Gender dis-
tribution within top management is calculated by
dividing the number of male and female employ-
ees in top management by the total number of
employees in top management, respectively.
Age distribution
The age distribution of employees is determined
by summing the total headcount of employees
under 30 (29 or younger), those between 30 and
50 (30 to 49), and those aged 50 or older, ex-
cluding freelancers and contractors. This calcula-
tion is based on data from 31 December 2024.
Gender distribution in top management Head count Share
Male 12 86%
Female 2 14%
Total Employees 14 100%
Age distribution of employees in headcount 2024
Unknown 0
Under 30 years old 510
Between 30 and 50 years old 1,017
Above 50 years old 30
Total Employees 1,557
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Health and safety (S1-14)
Work-related injuries are infrequent in our workplace, as
the nature of our tasks does not impose significant phys-
ical demands on employees. That said, three work -re-
lated injuries were recorded in 2024. While we cannot
share specific details due to privacy considerations,
there are no identifiable trends or recurring patterns in
these incidents.
We have decided to address this aspect separately
within our safety management system and health man-
agement strategy.
Our People & Culture team is tasked with overseeing the
safety management system, ensuring a robust frame-
work for reporting. They diligently track and record
safety incidents at each location, consolidating this data
into a shared document that serves as a central reposi-
tory for health and safety documentation. This ce ntral-
ized record is crucial for maintaining transparency and
accountability across all our locations. Moreover, the
People & Culture team actively collaborates with each
site to foster a safe and secure work environment. Our
office teams play a vital role by optimizing workspace
arrangements to meet safety standards. Additionally,
where legally required, we have employee-elected rep-
resentatives who are dedicated to focusing on work-
place health and safety, ensuring that our policies not
only comply with regulatory demands but also promote
a culture of safety.
In terms of health management, we consistently meet
legal obligations by providing mandatory insurance cov-
erage, collaborating closely with external experts to en-
sure our offerings are both compliant and competitive.
Each employee category at every location is evaluate d
to confirm that all legal requirements are consistently
satisfied. In specific regions, we extend additional cov-
erage to align with prevailing market standards, a pro-
cess carried out in partnership with our external advisor.
It is relevant to note that in regions such as France and
North America, some employees have opted out of our
insurance plans as they are covered through their
spouse’s insurance. We rely on our local People & Cul-
ture teams to manage and uphold each location's insur-
ance policies.
This approach ensures tailored compliance and safety
strategies that respect local regulations while upholding
our commitment to employee welfare globally. No oc-
cupational fatalities were reported among our employ-
ees or any personnel working on our sites during 2024.
Health and safety 2024
Percentage of people in own workforce (headcount basis) who are covered by health and safety management
system based on legal requirements and (or) recognized standards or guidelines 100%
Number of fatalities as result of work-related injuries and work-related ill health 0
Number of fatalities as result of work-related injuries and work-related ill health (other workers working on un-
dertaking's sites) 0
Number of recordable work-related accidents for own workforce 3
Rate of recordable work-related accidents for own workforce 1.3%
Accounting principles
Health and safety
Number of work-related accidents: a shared doc-
ument serves as the central record for health and
safety documentation. Local HR teams contribute
relevant input in the designated document that
then consulates into the group overview re-
ported, this ensures accurate and comprehensive
reporting. The consolidated number of accidents
occurred for employees within the reporting pe-
riod are based on the numbers reported by local
HR.
The work-related accident rate is expressed as
the number of recorded incidents per one million
hours worked. It is determined by dividing the to-
tal number of registered cases during the report-
ing period by the cumulative hours worked across
Better Collective, then multiplying the result by
one million.
Percentage of people covered by
H&SMS
The percentage covers the employees who are
covered by our Health and safety management
system, which as a minimum contains the legal
requirements.
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Work-life balance (S1-15)
All our employees are entitled to take family- related
leave in accordance with employment terms and condi-
tions described in employee handbooks and contracts.
Accounting principles
Work-life balance
Family-related leave refers to time off granted for responsibilities such as
maternity or paternity leave, parental leave, caring for sick relatives. It
does not include time off for personal medical appointments, pregnancy-
related illnesses outside of parental leave, or absences due to funerals or
bereavements. Additionally, unspecified leave of absence is not consid-
ered part of family-related leave.
The calculation for family-related leave is based on the number of unique
individuals of each gender who have taken this type of leave, divided by
the total number of eligible employees of the same gender. Eligible em-
ployees refer to employees who have the legal right, as defined by appli-
cable national laws and Better Collective policies, to temporarily step
away from their professional duties to address family -related responsi-
bilities covered by the definition of family-related leave.
Eligible employees are determined using the same criteria as the "total
headcount" as all employees in Better Collective are eligible for family
related leave. Employees who take family -related leave in multiple
months within the same reporting year are counted only once.
As family-related leave is not consistently registered in our internal sys-
tem, data is gathered from responsible members of the People & Culture
team All instructed to provide reported figures broken down by gender.
Work-life balance Men Women 2024
Percentage of entitled employees that took family-related leave, by gender 7% 9% 8%
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Compensation (S1-16)
The reported gender pay gap at Better Collective Group
is influenced by the employee population being pre-
dominantly male which inherently skews the average
pay gap. This effect is particularly pronounced due to
the concentration of male employees in upper -level
roles. The higher compensation associated with these
roles contributes to a higher average pay for male em-
ployees. Our diversity initiatives aim to balance gender
representation throughout our group and achieve pay
equity for equal qualifications and jobs. Although we
practice equal pay for equal work, the overall figures are
affected by the parameters. The annual total remunera-
tion ratio was 1:45 , amplified by geographical differ-
ences.
Gender pay gap 2024
Gender pay gap 33%
Annual total remuneration ratio 1:45
Accounting principles
Compensation
The gender pay gap is defined as the difference in average gross hourly pay between
male and female employees at Better Collective. The gender pay gap is calculated by
subtracting the average gross hourly pay level for female employees from the average
gross hourly pay level for male employees, dividing the result by the average gross hourly
pay level for male employees, and then multiplying by 100.
The average gross hourly pay level is calculated by aggregating gross pay (the sum of
guaranteed, short-term, and non-variable cash compensation) and variable pay (benefits
in cash, which is the sum of cash allowances, bonuses, commissions, cash profit-sharing,
and other forms of variable cash payments) and dividing by the total number of paid
hours. "Paid hours" are defined as the aggregate of the number of paid hours in the re-
porting period, which include worked hours, and any hours paid at the gross hourly rate,
such as vacation, sick leave, or other types of paid time off.
Annual total remuneration ratio is defined as the ratio of the annual total remuneration
of the highest-paid employee to the median annual total remuneration of all other em-
ployees at Better Collective Group. The ratio is calculated by dividing the annual total
remuneration of the highest-paid employee by the median annual total remuneration of
all other employees (excluding the highest-paid employee).
Annual total remuneration includes direct remuneration, which is the sum of benefits in
cash (variable pay, which is the sum of cash allowances, bonuses, commissions, cash
profit-sharing, and other forms of variable cash payments), benefits in kind (employ er-
paid benefits, such as cars, private health insurance, life insurance, wellness programs,
pension contributions, and any other employer-paid benefits), and the total fair value of
all annual long-term incentives granted during the reporting period (for example, stock
option awards, performance stock shares or units).
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Discrimination incidents
reported and complaints filed
(S1-17)
We had 13 cases reported in the Better Workplace eval-
uation covering the period from summer 2023 to sum-
mer 2024. An internal policy for handling these cases is
established.
We handle every discrimination and harassment inci-
dent and complaint within our organization through
our internal procedures. Due to the sensitive nature of
these matters, we do not share any specific details
about the incidents. Each report or complaint is treated
with utmost confidentiality. Our procedures are de-
signed to ensure that employees can confidently and
securely report any incident.
In 2024, no records of fines or penalties were associ-
ated with discrimination. Furthermore, no human rights
incidents involving our workforce took place in 2024,
and as a result, no fines, penalties, or compensations
related to such incidents were recorded.
Accounting principles
Discrimination incidents reported and com-
plaints filed
Number of complaints filed through channels for people in our
own workforce to raise concerns: Channels for own workforce
follow the local legal requirements. Common for all countries are
the Better Workplace Evaluation, HR, and own manager. Whis-
tleblower cases are included in these numbers. Based on the cur-
rent available data collection methodology, we include all cases
raised in the Better Workplace evaluation as of end of survey.
Human rights, complaints, fines, and penalties: We monitor these
elements locally and data from each location are reported into
Group HR where the numbers are consolidated based on the in-
put given at the end of year
Incidents, complaints and severe human rights impacts 2024
Number of incidents of discrimination including harassment 13
Number of complaints filed through channels for people in own workforce to raise concerns 0
Number of complaints filed to National Contact Points for OECD Multinational Enterprises 0
Amount of fines, penalties, and compensation for damages as result of incidents of discrimination, including
harassment and complaints filed 0
Number of severe human rights issues and incidents connected to own workforce 0
Number of severe human rights issues and incidents connected to own workforce that are cases of non respect
of UN Guiding Principles and OECD Guidelines for Multinational Enterprises 0
Amount of fines, penalties, and compensation for severe human rights issues and incidents connected to own
workforce 0
===== SIDA 72 =====
Annual report Page 72
Consumers and end-user IROs
(S4 SBM-3)
Our core business is closely linked to our users, whose
data we process and who may depend on our products
in their personal lives. Our solutions are likely to impact
users materially. Better Collective’s business model as a
global digital sports media group and sports betting af-
filiate directly interacts with consumers and end -users
through digital content, targeted advertisements, and
affiliate partnerships. Our operations are built on ensur-
ing user engagement and delivering high-quality, vetted
information, which informs our strategic focus on re-
sponsible digital advertising, ethical marketing prac-
tices, and regulatory compliance. The identification of
actual and potential impacts on users, particularly re-
garding data privacy, information accuracy, and safer
gambling, underscores the necessity of robust cyberse-
curity frameworks and transparent operational policies.
These align with our long -term strategy of promoting
sustainable growth through ethical user engagement
and adherence to legislative requirements.
Understanding our impact on consumers and end-users
has led to strategic adaptations in our business model.
Our commitment to responsible engagement has re-
sulted in initiatives such as strict editorial guidelines for
content accuracy, partnerships with responsible gaming
organizations, and enhanced data protection measures
under GDPR. All of which have secured us numerous
compliance awards throughout the years.
VALUE CHAIN LOCATION TIME HORIZON
UPSTREAM
OWN
OPERATIONS DOWNSTREAM SHORT-TERM MEDIUM-TERM LONG-TERM
INFORMATION RELATED IMPACTS
FOR CONSUMERS AND END-USERS
Impacts on consumer and end-user
from Better Collective’s services
and operations
Potential both negative
and positive impact X X
PERSONAL SAFETY OF CONSUM-
ERS AND END-USERS
Impacts on at-risk users’ personal
safety
Potential negative im-
pact X X
SOCIAL INCLUSION OF CONSUM-
ERS AND END-USERS
Impacts on consumers and end-us-
ers relating to responsible market-
ing practices
Potential negative im-
pact X X
SAFER GAMBLING
Impacts on consumers and end-us-
ers relating to safer gambling. This
includes providing access to self-
exclusion tools, highlighting limits,
and connecting users with organiza-
tions that offer support for problem
gambling
Actual positive impact X X
===== SIDA 73 =====
Annual report Page 73
We continuously invest in AI-driven tools through Mind-
way AI to support safer gaming efforts and provide ed-
ucational resources to consumers and end-users. These
initiatives demonstrate our proactive stance in aligning
business operations with evolving regulatory land-
scapes and consumer protection expectations.
None of the identified IROs are considered widespread
or systemic.
Policies (S4-1)
Our policies to manage the consumers and en d-users
IROs are listed in the policy overview on page s 54-57,
covering all consumers and end -users potentially im-
pacted by our material topics. Collectively, these poli-
cies and procedures reflect our strong commitment to
respecting the human rights of both consumers and
end-users and our dedication to fostering a s afer and
more responsible iGaming experience. Through initia-
tives focused on education, transparency, and responsi-
ble engagement, we ensure that users c an access fact-
checked, legally compliant content while promoting re-
sponsible gambling behaviors. Our policies emphasize
data protection, ethical marketing, and consumer well -
being, aligning with regulatory frameworks and industry
best practices. Additionally, our commitment to safer
experiences includes age-gating mechanisms, responsi-
ble advertising guidelines, partnerships with licensed
operators, and integrating AI-driven tools like Mindway
AI’s Gamescanner solution to detect and mitigate
problematic gambling behaviors. By continuously eval-
uating and refining these policies, we aim to enhance
consumer trust, mitigate potential risks, and contribute
positively to the overall integrity of the digital sports
media and iGaming industry . Better Collective has not
identified any material IROs related to human rights, and
therefore, it is not deemed relevant to have policies on
human rights commitments related to consumers and
end users. Better Collective has not had any reported
cases of non -respect of the UN Guiding Principles on
Business and Human Rights, ILO Declaration on Funda-
mental Principles and Rights at Work , or OECD Guide-
lines for Multinational Enterprises that involve consum-
ers and/or end -users. If Better Collective becomes
aware of a human rights impact, the Executive Manage-
ment will assess and address the matter . Policy align-
ments to UN Guiding Principles can be read on pages 48;
54-57 in sections Statement on due diligence, P olicy
overview and Business conduct policies.
Annual report Page 73
===== SIDA 74 =====
Annual report Page 74
Engaging with consumers and
end-users (S4-2)
At present, Better Collective has not implemented a for-
malized, general process for direct consumer and end-
user engagement across all our operations. However,
Better Collective acknowledges the importance of con-
sumer and end -user input in shaping our responsible
digital sports media and betting affiliation strategies.
We engage indirectly through data analytics, user be-
havior tracking, and adherence to regulatory feedback
mechanisms.
Better Collective actively explores structured consumer
engagement initiatives, including user feedback plat-
forms, consumer advisory panels, and direct surveys.
These measures will enhance our understanding of con-
sumer expectations, improve responsible gambling
practices, and align with evolving regulatory and ethical
standards. Our commitment remains to ensuring trans-
parency, accountability, and continuous improvement in
consumer and end-user interactions.
Process to remediate impacts
and channels to raise concern
(S4-3)
Better Collective is committed to addressing and reme-
diating negative impacts experienced by consumers and
end-users. Our approach includes working with regula-
tory bodies, partnering with responsible gambling
organizations with licenses in regulated markets, and
providing tools (Mindway AI) and other resources that
help users make informed decisions. Consumers and
end-users can raise concerns through multiple channels,
including dedicated support emails and online contact
forms. Additionally, we collaborate with third-party or-
ganizations that provide independent dispute resolution
through our Whistleblower line.
We ensure the availabil-
ity and accessibility of these channels by regularly re-
viewing and updating our complaint handling proce-
dures. All concerns raised are logged and monitored.
We continuously assess the effectiveness of our chan-
nels and make improvements based on data insights and
feedback. Better Collective actively communicates the
availability of complaint resolution channels through
website notices, help center articles, and partnerships
with consumer advocacy groups. Regular consumer sur-
veys and feedback mechanisms help gauge trust and
awareness of these processes. In some cases where no
formal remediation process is established, Better Collec-
tive is actively developing stru ctured frameworks that
align with industry best practices and consumer protec-
tion guidelines.
Our approach (S4-4)
As a global digital sports media group with sports bet-
ting affiliate operations, we interact directly with users
through digital content, targeted advertisements, and
affiliate partnerships. Our services and operations
create actual and potential impacts, which we work ac-
tively to manage through policies, technological solu-
tions, and industry collaboration. The material actual
and potential negative and positive effects we address
relate to safer gambling, personal safety, data privacy,
social inclusion, and access to accurate information.
Addressing our impacts
Safer gambling
One of the most significant positive impacts of our ser-
vices is the gambling education we provide. As we pro-
vide content that directs users to partner sportsbooks,
we recognize the need for robust , safer gambling ac-
tions. However, as Better Collective is not a sportsbook,
we do not have direct visibility into user betting behav-
ior. We rely on our partner sportsbooks to monitor gam-
bling activity, scan for signs of at -risk or problem gam-
bling, and take appropriate action, as we cannot detect
solely from users engaging with our content. Among
other things, we only partner with licensed sportsbooks
that uphold strict, safer gambling policies and interven-
tion measures. To further reinforce safer gambling, we
have embedded educational resources and self -help
tools across our platforms, including:
• Mindway AI’s Gamalyze self-assessment tool is
embedded across 30+ brands and helps users
evaluate their gambling behaviors before engag-
ing with sportsbooks.
• Self-exclusion mechanisms and betting limit op-
tions, available through our partner sportsbooks,
to help users manage their gambling activity.
• Safer gambling sections across our brands, offer-
ing educational content and links to responsible
gambling support services.
• Mandatory safer gambling training for all employ-
ees, ensuring that our workforce understands how
to engage responsibly with and promote safer
gambling practices.
While we cannot regulate sportsbooks’ activities, we
take responsibility for raising industry standards by
holding them accountable during the customer acquisi-
tion and ongoing CRM processes. Through Mindway AI’s
AI-driven solutions, we support sportsbooks in setting
the bar higher for user protection and safer gambling ,
which has been a key action to enhance our positive im-
pact on an ongoing basis. This approach extends our im-
pact beyond our direct operations, ensuring that sports-
books surpass minimum compliance standards and pro-
actively implement best-in-class, safer gambling tools.
Mindway AI is a subsidiary of the Better Collective Group
and plays a critical role in enhancing user protection
within the iGaming industry. Operating independently
while aligning with Better Collective’s safer gambling
strategy, Mindway AI supports sportsbooks wor ldwide
with AI-based tools that detect, prevent, and mitigate
problem gambling. Mindway AI’s GameScanner is an AI-
===== SIDA 75 =====
Annual report Page 75
powered player monitoring tool that allows operators to
detect at-risk gambling behaviors in real time. Currently
operating in 62 jurisdictions across 38 countries,
GameScanner monitors over 9 million players monthly,
enabling early intervention and support for users before
gambling habits become problematic.
Mindway AI also enhances player awareness through
Gamalyze, a gamified self -assessment tool that helps
users understand their gambling behavior by analyzing
real-time decision-making patterns. By providing per-
sonalized feedback and behavioral insights, Gamalyze
allows players to self-reflect on their gambling tenden-
cies and make informed choices. Beyond external indus-
try partnerships, Better Collective integrates Mindway
AI’s expertise within our operations:
• Gamalyze is available on 30+ brands across Better
Collective’s House of Brands, offering users an ac-
cessible way to assess their gambling behavior.
• Mindway AI experts contribute to safer gambling
content, ensuring our educational resources align
with scientific research and the industry’s best
practices.
Data privacy and protection
Better Collective has adopted a data ethics policy in ac-
cordance with Section 99d of the Danish Financial State-
ments Act. This section stands as our data ethics report
for the fiscal year 2024. The data ethics policy outlines a
set of data ethics principles that support ethical deci-
sion-making when using data across Better Collectives
activities. We employ data to provide our users a unique
and educational experience whenever they visit our
websites and/or engage in our communities. To give our
users the best and most relevant experience possible,
we process various categories of data, including user -
related and personal data. In 2024, we established a pro-
cess and governance setup to handle and evaluate data
ethics reporting.
Responsible marketing
Ensuring responsible marketing practices is critical to
preventing misleading claims, unethical targeting, or
content that could contribute to gambling-related harm
for our users. As a key action to mitigate these risks, we
have established a comprehensive compliance frame-
work that ensures on an ongoing basis that all marketing
content is socially responsible, transparent, and aligned
with industry regulations:
• Advertising guidelines outline principles for so-
cially responsible advertising, safer gambling, and
the protection of minors. These guidelines prevent
misleading messaging, ensure age-gating, etc.
• Our internal Advertising compliance policy sets
out fundamental ethical guidelines for all market-
ing and content creation activities, mandating
compliance with regulatory requirements and in-
dustry best practices.
• Our compliance operations team regularly moni-
tors our assets, including social media, to ensure
adherence to responsible marketing principles.
This includes conducting negative keyword checks
to identify and remove content not aligning with
safer gambling and compliance guidelines.
• Employee training is a core component of our re-
sponsible marketing efforts. To ensure awareness
and adherence to ethical advertising practices, we
have implemented a compliance onboarding form,
which all relevant employees must understand
and accept as part of their onboarding process.
We have also developed advertising rules training
videos, available in bite-sized modules, covering
all aspects of socially responsible marketing with
quizzes to reinforce key principles.
• Compliance hub, an internal resource center
providing advertising compliance materials, regu-
latory updates, and ethical marketing guidelines.
Through this structured compliance approach, we en-
sure that all marketing and promotional activities re-
main ethical, responsible, truthful, and aligned with in-
dustry standards.
Access to accurate information
Our content strategy prioritizes transparency, educa-
tion, and user empowerment. We recognize that access
to high-quality, fact-based information is a material op-
portunity, allowing users to make informed decisions
while reducing exposure to misinformation. We ensure
that our platforms promote responsible and accurate in-
formation through editorial guidelines and industry best
practices. One of our platforms' most significant positive
impacts is our ability to educate and inform users about
sports betting, safer gambling, and the broader iGaming
industry. Access to fact-based, transparent, and legally
compliant information helps users make informed deci-
sions, reducing misinformation and potential harm. As a
key action to reinforce this impact on an ongoing basis,
we have:
• Strict editorial guidelines to ensure all published
content is accurate, unbiased, and compliant with
regulations.
• AI-driven content monitoring to detect and pre-
vent misleading or non-compliant information.
• Betting education resources, such as our Betting
Academy, to help users understand betting risks
and strategies responsibly.pri
Providing access to accurate and well -regulated infor-
mation supports informed decision-making and empow-
ers users to make more enlightened and responsible de-
cisions in the iGaming space.
Tracking and managing the
effectiveness of our actions
We assess the effectiveness of our policies and initia-
tives through qualitative and quantitative tracking
methods. These include:
===== SIDA 76 =====
Annual report Page 76
• Monitoring engagement with our Mindway AI tools
and other engagement with safer gambling con-
tent across our platforms.
• Tracking completion rates of internal safer gam-
bling training for employees.
• Conducting compliance audits to ensure adher-
ence to advertising and data privacy regulations.
• Collecting user feedback and analytics to under-
stand how they engage with our products and
content.
• All policies, including our Safer Gambling Code
and Data ethics policy, are reviewed annually to
ensure they remain aligned with industry best
practices and regulatory updates.
Industry engagement
We actively collaborate with industry peers and stake-
holders to drive higher standards in user protection. We
strongly believe that our industry's long-term sustaina-
bility and growth depend on sustainable operations. Ev-
idently, this is not achieved by a single business but ra-
ther by a collective effort across the industry. This is why
we, in 2019, partnered with our peers Racing Post and
Oddschecker to co -found the UK-based trade associa-
tion Responsible Affiliates in Gambling (RAiG). Through
RAiG, we promote socially responsible marketing of
gambling products and a safer gambling environment
for users. As a condition of membership in RAiG, each
member is subject to an annual social responsibility au-
dit conducted by an independent third party. Moreover,
we co-founded the Responsible Gambling Affiliate As-
sociation (RGAA) with our peers, Catena Media, FairPlay
Sports Media, Gambling.com Group, Spotlight Sports
Group, and XLMedia, in 2023. The RGAA is an independ-
ent trade association committed to being a trusted voice
that promotes responsible gambling and advocates for
regulation that supports equitable market participation.
Again, this year, we participated in the Safer Gambling
Week, a cross-industry initiative to promote safer gam-
bling in Europe. Similarly, we are active members of var-
ious national associations, one of which is the Danish
Online Gambling Association (DOGA). Through DOGA ,
we work to initiate dialogue between all stakeholders in
the gambling industry to secure a responsible and safe
gambling market in Denmark and other countries. We
are also members of the German Association for Tele-
communication and Media (DVTM) and the US National
Council on Problem Gambling (NCPG). Through partici-
pation in multi-stakeholder initiatives, we contribute to
strengthening industry -wide safer gambling policies
and promoting ethical digital engagement, ultimately
mitigating negative impact on users.
We remain committed to managing our operations' ac-
tual and potential impacts on users. By integrating safer
gambling measures, data privacy protections, responsi-
ble marketing practices, and content accuracy safe-
guards, we strive to mitigate negative impacts while re-
inforcing positive contributions. Our structured
approach to tracking effectiveness, engaging in indus-
try-wide collaborations, and continuously refining our
policies ensures that we remain at the forefront of re-
sponsible and sustainable engagement in digital sports
media and betting affiliation.
Targets (S4-5)
While we do not currently have quantitative targets spe-
cifically linked to our impacts on users, we actively mon-
itor and assess the effectiveness of our policies and ini-
tiatives through qualitative evaluations, compliance
tracking, and user engagement insi ghts. Our focus re-
mains on ensuring that our policies related to safer gam-
bling, data privacy, responsible marketing, and content
transparency align with regulatory standards and ethical
best practices. Our strategic ambition is to continuously
improve our safer gambling initiatives, strengthen user
protections, and enhance transparency and compliance
across our platforms.
This ambition is reflected in our ongoing investments in
safer gambling technologies, educational resources,
and ethical marketing practices. Moving forward, we
aim to refine our approach to tracking and evaluating
user impact by developing a more structured impact
measurement framework that could incorporate both
qualitative and quantitative indicators. Until then, we
will continue leveraging regulatory feedback, industry
benchmarking, and internal reviews to ensure our
policies effectively minimize harm and maximize user
protection.
Annual report Page 76
===== SIDA 77 =====
Annual report Page 77
Governance
Business conduct IROs
(G1 IRO-1)
Read about the role of the administrative, supervisory ,
and management bodies on page 23.
At Better Collective, ethical business conduct is funda-
mental to our business model, ensuring compliance with
relevant legislation and international guidelines while
fostering responsible, ethical, and transparent business
conduct. Strong governance is the foundation of our
sustainability strategy, embedding accountability, com-
pliance, and transparency into all aspects of our busi-
ness to maintain trust, resilience, and long-term success.
As a group operating internationally, our success de-
pends on maintaini ng efficient, competent, and ethical
business practices. We prioritize compliance and integ-
rity to mitigate legal and financial risks and protect em-
ployees, prevent corruption, and support whistleblow-
ers who report unethical behavior. Beyond regulatory
requirements, these commitments are essential to safe-
guarding human rights, maintaining our operating li-
cense, and ensuring a sustainable and responsible busi-
ness approach. As a global digital sports media group
with growing influence, we acknowledge our resp onsi-
bility to promote ethical, transparent, and fair practices
across our industry.
Based on their knowledge of Better Collective and our
regulatory framework, IROs are identified within the
Governance standard from insights from Group Legal
and Compliance and People and Culture . The assess-
ment of our operations covers the entire Better Collec-
tive group, through which we practice extensive and
regular communication on business conduct proce-
dures. As such, policies are generally group-wide, while
the strategy for corporate culture is aligned across our
group. The assessment rests on initial engagement with
relevant stakeholders. In addition, both hard and soft
laws, such as the Danish Recommendations on Corpo-
rate Governance, the EU Whistleblower Directive, and
the OECD Guidelines on Multinational Enterprises, etc.,
were consolidated and assessed against our current
practices.
Annual report Page 77
===== SIDA 78 =====
Annual report Page 78
VALUE CHAIN LOCATION TIME HORIZON
UPSTREAM
OWN
OPERATIONS DOWNSTREAM SHORT-TERM MEDIUM-TERM LONG-TERM
CORPORATE CULTURE
A strong corporate culture fosters employee satisfaction, en-
gagement, and productivity, creating a cohesive and inclu-
sive work environment across our offices and the countries
in which we operate. By prioritizing open communication,
shared values, and a positive workplace atmosphere, we en-
hance collaboration, innovation, and alignment within our or-
ganization, ultimately driving long-term success and govern-
ance excellence.
Actual positive impact X X X X
CORPORATE CULTURE
Lack of good corporate culture could lead to an impact on
people and governance through employee satisfaction,
productivity, and a disconnect between the levels in our or-
ganization across our offices and the countries we operate
within.
Potential negative im-
pact X X X
CORRUPTION AND BRIBERY
Lack of adherence to anti-bribery and corruption legislation
and ethical standards could potentially lead to an impact on
people and governance through the result of disciplinary ac-
tions, employee satisfaction, the legitimacy of management,
and a negative impact on the corporate culture
Potential negative im-
pact X X X X X
TRANSPARENT TAX PAYMENTS
Responsible tax practices and transparency supports public
services and economic development, strengthens trust with
stakeholders, and reinforcing our role as a responsible and
accountable business giving us a competitive advantage
within the industry
Potential positive im-
pact and opportunity X X
CONTRIBUTION TO THE DEVELOPMENT OF LOCAL COM-
MUNITIES
Impacts on locals well-being and job-qualification leaving an
opportunity to the better collective group
Actual positive impact X X
===== SIDA 79 =====
Annual report Page 79
Business conduct policies and
corporate culture (G1-1)
Code of Conduct
Throughout our group , we promote our Code of Con-
duct as a guide for all employees on the standards and
values of a compliant and responsible business. We have
developed, implemented, and communicated various
policies designed to cultivate a corporate culture cen-
tered on responsible business conduct across our group.
Our Code of Conduct is at the heart of our corporate cul-
ture, which mandates compliance with relevant legisla-
tion and outlines the ethical standards and values we are
committed to upholding and promoting. Our Code o f
Conduct’s structured and integrated approach ensures
that our policies are embedded effectively, prioritizing
clarity, transparency, and accessibility. Our policies, in-
cluding our Code of Conduct, aim to mirror the ethical
standards of internationally recognized guidelines and
conventions such as the OECD Guidelines for Multina-
tional Enterprises, UN Guiding Principles on Business
and Human Rights and the UN Declaration of Human
Rights, ILO Conventions, as well as local legislation when
applicable. Additionally, we conduct business in compli-
ance with applicable laws, regulations, and standards.
We are subject to various national compliance regula-
tions in the countries where we operate, and to aid in
developing a sustainable iGaming environment , we
solely operate in regulated markets or markets where
the authorities accept sports betting . We seek to
develop editorial guidelines which ensure balanced and
compliant marketing messages and include proper seg-
mentation for our activities across different channels us-
ing marketing technology to avoid targeting the wrong
audience.
Executive Management and the Board of Directors an-
nually review and amend necessary policies, including
our Code of Conduct. Going forward this will also be
done in response to any significant IROs identified
through the DMA process. All group -level policies are
anchored within the Better Collective group and applied
throughout our entities to ensure the highest possible
level of alignment and to maximize adaptability to
changes in internal or external circumstances, achieved
through the ease of amending group-level policies.
Business conduct training
All new employees, including those welcomed from ac-
quired companies, are introduced to Better Collective
and our policies, through an extensive onboarding pro-
gram. They receive business conduct training in accord-
ance with our Code of Conduct covering the t opics as
set out in our Code of Conduct. Business conduct train-
ing includes educational elements, videos, and quizzing
elements to ensure that employees have understood the
content.
Anti-bribery and corruption
We condemn the acts of corruption and bribery and up-
hold a zero -tolerance policy. Not only are they illegal ,
but they also pose a threat to our trustworthiness and a
risk to our partners, users, and authorities. Our policy on
Anti-bribery and corruption is included in our Code of
Conduct and implemented across the Better Collective
group. Our Whistleblower scheme fa cilitates anony-
mous reporting, and we encourage everyone to speak
up if they find something in breach of our policies. We
persistently work to s trengthen our compliance
measures by regularly reviewing and updating our anti-
corruption policies to align with evolving laws and best
practices. Functions most at risk for corruption and brib-
ery are those in high-risk geographies, procurement, fi-
nance, and sales.
Whistleblower policy
We are committed to maintaining integrity, transpar-
ency, and accountability across all operations. Anyone
who becomes aware of potential or actual violations of
our Code of Conduct or other policies is encouraged to
report this through one of various channels available, in-
cluding raising the issue to a manager or addressing the
concern to our People and Culture team or Legal and
Compliance team. The whistleblower channel can be
used to report violations of EU law within the scope of
application of the Whistleblower Directive as well as re-
ports otherwise regarding serious offenses or other se-
rious issues, e.g., corruption and bribery, fraud, sexual
harassment, etc. In compliance with the legal require-
ments that Better Collective is subject to, the protection
of whistleblowers is ensured through the independent
and autonomous nature of our Whistleblower system.
The Whistleblower system is available to our own em-
ployees as well as external stakeholders. The purpose of
the Whistleblower system is to enable the identification
and investigation of unlawful behavior through a chan-
nel that allows for full anonymity and investigation. In-
formation about our Whistleblower system is provided
to all employees during onboarding and with available
information on our intranet and externally on our corpo-
rate website. The whistleblower policy encourages con-
fidential reporting of legal violations and misconduct, in-
cluding fraud, harassment, and financial crimes. The pol-
icy protects whistleblowers from retaliation. Please see
more on policies in the policy overview on pages 54-57.
Market regulation and education
As sports betting expands globally, new gambling laws
and regulations are being introduced to protect users
and combat black-market activities. We maintain robust
internal processes to stay informed on regulatory devel-
opments and apply for licenses where r elevant. Our in-
house legal team is critical in ensuring compliance, con-
tinuously monitoring and adapting our operations to
evolving legal frameworks assuring compliance for our
websites. Better Collective has no formal policy on po-
litical engagement, lobb ying, or political contributions,
as our business model does not involve direct advocacy
or influence over-regulation. Our focus is education and
safer gambling awareness rather than shaping market
regulations. While we participate in trade associations
===== SIDA 80 =====
Annual report Page 80
such as RAiG, DOGA, DVTM, and NCPG, this engagement
is strictly within the scope of corporate social responsi-
bility and safer gambling initiatives.
Anti-bribery and corruption
(G1-3)
We uphold strict ethical standards in our business oper-
ations and commitment to compliance. We do not en-
gage in cryptocurrency payments and integrate due dil-
igence in our partnership and acquisition processes. This
includes thorough assessments for potential risks re-
lated to money laundering or fraud —should any such
risks be identified, we chose not to engage. We recog-
nize that operating across multiple jurisdictions exposes
our group and people to varying corruption and bribery
risks. Some regions where we operate present more sig-
nificant challenges, making corruption prevention a crit-
ical focus for our business. To uphold ethical conduct,
we have implemented robust internal controls and over-
sight mechanisms that ensure transparency and compli-
ance across our operations. While we have not reported
any cases of corruption or bribery to date, we remain
vigilant in maintaining a governance framework that
fosters accountability. Our Code of Conduct outlines
clear guidelines for offering and receiving gifts and hos-
pitality, ensuring that such gestures do not attempt to
influence decision-making improperly. To further miti-
gate risks, we have established an approval system
where all expenses related to gifts, meals, or hospitality
require managerial authorization. This oversight helps to
create an environment of transparency while reinforcing
ethical business practices. Additionally, we recognize
the importance of reporting processes and outcomes to
the Executive Management. Strengthening these report-
ing mechanisms ensures accountability and continuous
improvement in our anti-bribery and corruption efforts.
Corruption incidents (G1-4)
We aim for zero reported bribery and corruption cases,
including any behaviors that abuse entrusted power for
private gain in Better Collective. Despite having internal
controls, we recognize a key area for improvement in
the form of formalized anti-corruption and bribery train-
ing. Currently, we do not have formal screening or pro-
grams in place, though we acknowledge the importance
of educating employees —especially those in “sensitive
roles” on ethical business practices. To address this gap,
we are looking into options for anti-corruption educa-
tion and training to ensure proactive identification and
mitigation of potential threats.
At present, we do not have formalized actions in place
to manage our material impacts, risks, and opportunities
in this area. However, we recognize the need for struc-
tured initiatives and assess potential approaches.
In the event of breaches of anti -corruption and anti -
bribery procedures, we take immediate and appropriate
action. This includes conducting thorough investiga-
tions, implementing corrective measures, and enforcing
disciplinary actions where necessary. Additionally, we
analyze breaches to identify root causes to prevent fu-
ture occurrences.
There have been no incidents involving actors in the
value chain in which Better Collective or its employees
have been directly involved. Additionally, our Whistle-
blower system remains a key component of our compli-
ance framework, allowing employees, partners, and
stakeholders to report ethical concerns confidentially
and, if needed, anonymously. Reports submitted
through this channel are esc alated to the Head of the
Audit Committee, Leif Nørgaard, who ensures that in-
vestigations are conducted promptly and objectively.
Accounting principles
Corruption and bribery
Percentage of functions -at-risk covered by train-
ing programs: There is currently no formalized
training for functions-at-risk.
Number of convictions: conviction of a group en-
tity by a court of law which is determined during
the financial year.
Number of fines: fines for a group entity are deter-
mined by a court of law during the financial year.
2024
Percentage of functions-at-risk covered by train-
ing programs 0%
Number of convictions for violation of anti-cor-
ruption and anti-bribery laws 0
Amount of fines for violation of anti-corruption
and anti-bribery laws 0
===== SIDA 81 =====
Annual report Page 81
Entity specific
disclosures
Tax transparency
Better Collective recognizes that transparent tax prac-
tices are fundamental to corporate responsibility and
sustainable business operations. As part of its govern-
ance framework, the company ensures responsible tax
management that aligns with legal complian ce, ethical
standards, and stakeholder expectations. Our approach
to tax transparency aligns with our broader strategy,
emphasizing ethical business practices and accountabil-
ity. By fulfilling our tax obligations responsibly and
transparently, we contribute to a stable and sustainable
economic environment in the regions where we operate.
Beyond the societal impact, our commitment to tax
transparency presents a strategic opportunity for Better
Collective. As governments, investors, and stakeholders
increasingly value corporate accountability, our trans-
parent tax practices help strengthen trust, enhance our
reputation, and reinforce our position as an industry
leader. Demonstrating our dedication to financial trans-
parency mitigates regulatory risks and gives us a com-
petitive advantage in attracting investors and partners
who prioritize ethical business conduct. By integrating
responsible tax practices into our business model, we
align financial success with social impact, ensuring that
our growth contributes po sitively to the communities
we are part of while securing long -term value for our
stakeholder.
Our overall guiding principle within taxation is to have a
sustainable tax approach, emphasizing our business-an-
chored approach to managing the impact of taxes while
remaining true to the values of operating our business in
a responsible and transparent manner. Our legal struc-
tures are based on business -anchored considerations
and substance.
Policy (MDR-P)
The Better Collective Group must adhere to all relevant
tax regulations in any and all jurisdictions where it per-
forms its operations. The overall responsibility for secur-
ing tax compliance rests with the Executive Manage-
ment. This policy has been evaluated and approved by
the Board of Directors and is governed by the Audit
Committee. Group Finance establishes guidelines for
global compliance and will in collaboration with the ex-
ternal group auditors monitor that local organizations
are complying with their responsibility both in terms of
international and local regulations . The scope of policy
is Better Collective companies and their foreign
branches and representations worldwide , and covers
corporate income tax, indirect taxes, withholding taxes,
employee taxes, excise taxes, import duties and other
fiscal allowances resembling a tax.
Our approach (MDR-A)
Better Collective does not have formalized actions on
tax, however, we ensure alignment with policy at all
times and ongoing review of tax compliance.
Targets (MDR-T)
Better Collective does not have formalized numeric tar-
gets for tax transparency, but the overall target is to
pay the taxes in compliance with local tax rules and our
policy.
Metrics (MDR-M)
Our metrics cover corporate income tax, indirect taxes,
withholding taxes, employee taxes, excise taxes, import
duties and other fiscal allowances resembling a tax.
The metric assists Better Collective in assessment of
compliance with policy and thereby all relevant tax reg-
ulations.
Accounting principles
Corporate income taxes
Corporate income tax consist of corporate
income taxes and state income taxes paid or
expensed during the year.
Employment taxes
Employment taxes primarily consist of taxes col-
lected from employees on behalf of the govern-
ment and social security costs (part of payroll
taxes in some countries).
Indirect taxes
Indirect taxes consist of non-refundable VAT, net
VAT collections, customs duties and environmen-
tal taxes (if any).
Other taxes
Other taxes consist of country-specific taxes not
linked to one of the categories and withholding
taxes.
Tax Transparency, tEUR 2024
Corporate Income Tax 7,249
Employment taxes 28,836
VAT - 982
Other taxes 243
Total Taxes 35,346
===== SIDA 82 =====
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Contribution to local
communities
Beyond our core business activities, we also actively
support the local communities in which we are active
through education and various small -scale initiatives.
We recognize that our success is tied to positive social
impact and community engagement, so integrating
long-term value creation into our corporate strategy is
essential. We are committed to creating long-term value
for local communities by investing in education and
skills development. A core pillar of this commitment is
the Better Collective Aca demies, which serve as a way
to give back to communities and a strategic initiative to
cultivate new talent. Our academies in Niš and Paris, es-
tablished in 2021, have become a cornerstone of our lo-
cal engagement strategy. These programs provide spe-
cialized training in SEO, marketing, content creation, BI,
design, SEM, WordPress, full -stack, and quality assur-
ance, helping individuals develop competencies that en-
hance their employability within Better Collective and
across various industries. With no comparab le alterna-
tive educational programs available in these regions, the
academies are critical in reducing unemployment, fos-
tering local economic growth, and ensuring an influx of
skilled talent into the workforce. Through this initiative,
we are not only strengthening our talent pipeline but
also contributing to the broader professionaliz ation of
the digital and media industries.
In addition to educational programs, we actively engage
in local voluntary initiatives that support broader com-
munity development. Our teams participate in various
local projects, social impact programs, and fundraising
efforts, contributing time and resources to causes that
align with our mission of fostering growth and oppor-
tunity. These initiatives help improve living standards,
create access to new opportunities, and address specific
community needs. Our focus remains on expanding
these efforts through scalable initiatives, partnerships,
and continuous investment, reinforcing our role as a re-
sponsible corporate citizen.
Policy (MDR-P)
While we do not have a formal standalone policy dedi-
cated to local engagement, our Sustainability policy out-
lines our commitment to fostering long -term societal
benefits through education, skill development, and eco-
nomic contributions. Our approach to loca l community
engagement is embedded in our broader sustainability
strategy, ensuring that our activities align with our val-
ues and support the communities where we have a pres-
ence. Additionally, our tax transparency approach en-
sures that we contribute to local economies by fulfilling
our fiscal responsibilities in each jurisdiction where we
operate. We see tax contributions as a fundamental way
to support public infrastructure, education, and social
programs, thereby fostering sustainable development.
While our local engagement initiatives are not governed
by a formal policy, they are structured within our
sustainability commitments. Moving forward, we aim to
expand and refine our approach, ensuring that our con-
tributions remain meaningful, sustainable, and a ligned
with the needs of the communities we serve. Please read
more about our policies in the Policy Overview on pages
54-57.
Our approach (MDR-A)
We actively contribute to the social and economic well-
being of the regions where we operate through targeted
educational programs, environmental initiatives, and
community-driven efforts. Below, we outline key 2024
actions that demonstrate our dedication to fostering
positive impacts and creating sustainable local develop-
ment.
Better Collective Academies
Better Collective invests in education and skills develop-
ment as part of our strategic commitment to creating
long-term value for local communities. Through our Bet-
ter Collective Academies, we provide structured training
programs designed to equip local talent with digital and
analytical skills, fostering employment opportunities
and supporting the sustainable growth of the digital in-
dustry.
Launched in June 2023, the Paris SEO Academy is part
of Better Collective’s long-term educational investment
in digital expertise and professional development. The
program is designed to bridge the gap between
education and employment, providing participants with
hands-on experience in SEO and digital marketing.
The BI Academy introduces talents to business intelli-
gence, analytical technologies, and methodologies. The
academy equipped participants with hands -on experi-
ence in data analysis and visualization, preparing them
for roles in data -driven decision-making. In early 2024,
we launched our first Design Academy, running from
January to May 2024. This initiative focused on visual
storytelling and digital media creation, allowing three in-
terns to refine their skills in graphic design, branding,
and content production.
One tree per employee
Better Collective strives to integrate environmental sus-
tainability into our local engagement strategy. Since
2019, we have been running the "One Tree per Em-
ployee" initiative in Niš, as part of our broader efforts to
foster a greener and more sustainable local environ-
ment. In 2024, the initiative continued, with 150 magno-
lia trees planted across three locations, bringing our to-
tal contribution to 443 donated and planted tree seed-
lings. This program reflects our ambition to enhance ur-
ban green spaces while reinforcing our commitment to
long-term community investment and climate responsi-
bility.
===== SIDA 83 =====
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Štafeta Srcem - Humanitarian IT race in Niš
Our office in Niš participated in the Štafeta Srcem hu-
manitarian race, demonstrating our commitment to so-
cial responsibility and community support. In 2024, 44
employees took part in this initiative to raise funds to
furnish the Parent’s House in Niš—a facility designed to
improve the quality of life for young oncology patients
and their families. Our participation in this annual race is
a testament to our long -term engagement with local
causes, reinforcing our dedication to social well -being
beyond business operations.
Metrics (MDR-M)
Our academies are owned locally. The calculation of the
total number of graduates is based on the consolidated
input from each of our offices. In 2024, we happily grad-
uated five graduates from Business Intelligence, three
from Design, and 4 in QA, all in Nis, Serbia. Further, we
had four graduates from our SEO academy in Paris,
France. All graduates were offered positions at Better
Collective following their graduation. Since we only
have graduates in Paris and Nis, our focus has been lim-
ited to evaluating the number of graduates from these
two locations. To ensure accuracy, we have compared
the number of graduates to those announced on our in-
tranet. All graduates have been offered a position at BC
following their graduation.
Targets (MDR-T)
While we do not have predefined quantitative targets
for this topic, we actively monitor engagement levels,
participation rates, and impact outcomes across various
initiatives. The effectiveness of our policies and actions
is tracked through:
• Program participation and impact assessments of
initiatives, e.g., employment rates post -academy
and qualitative feedback.
• Engagement with employees, partners, and local
communities to assess the effectiveness of our con-
tributions and refine the approach based on feed-
back.
While we have not defined a base period for measuring
progress, we consistently review our actions to ensure
continuous improvement and alignment with sustaina-
bility objectives. As we further refine our approach, we
remain committed to enhancing transparency and inte-
grating measurable sustainability metrics into our re-
porting framework.
Number of annual graduates 2024
Graduates from a BC academy 15
Accounting principles
Number of graduates from a BC Academy tracks
the total number of individuals who successfully
graduated from BC Academies in the reporting
year, specifically focusing on our locations in Paris
and Nis. The calculation includes all graduates who
completed their training within the year 2024. To
ensure accuracy, the reported figure is de rived
from a comparison with the graduate announce-
ments published on our intranet. Since our acade-
mies are locally owned, we consolidate the gradu-
ate data from both locations to arrive at the final
count.
===== SIDA 84 =====
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Environment
Climate change (E1)
As a digital sports media group with operations world-
wide, we recognize the need to decrease the negative
climate-related impact of our business. Our long-term
commitment is to implement a precautionary approach
to environmental challenges and minimize our negative
impact through resource efficiency and decarbonization
to the greatest possible extent. Our operations result in
CO2 emissions primarily from daily business activities,
including travel, the use of data centers in our upstream
value chain, and do wnstream activities related to dis-
tributing our services. These impacts are closely tied to
the nature of our business model, which depends on dig-
ital infrastructure for our global operations and value
delivery. Our energy consumption contributes to CO2
emissions; however, as we are not a production com-
pany, energy consumption is low. Nonetheless , this is a
relevant topic, as it contributes to CO2 emissions and is
a lever for reductions.
Transition plan for climate
change mitigation (E1-1)
We do not currently have a transition plan for climate
change mitigation, but we are ensuring our strategy and
business model are compatible with the transition to a
sustainable economy and limiting global warming to 1.5
degrees in line with the Paris Agreement. However, we
have initiated work to assess how to best approach this
based on insight and improved data quality on our GHG
disclosures.
Climate-related risks
(E1 SBM-3)
In our 2024 DMA and related analysis, we have assessed
the identified IROs, specifically evaluating potential cli-
mate-related risks or hazards. To identify and assess po-
tential outcomes of future events under conditions of
uncertainty, an environmental analysis was conducted
across E1 to E5 topics. The environmental analysis con-
siders our geographical locations of offices and key up-
stream value chain operators , as well as temperature
changes in alignment with the Representative Concen-
tration Pathways assessed by the IPCC in its fifth assess-
ment report . Additionally, the analysis is based on
sources like the WWF R isk Filters. The scenarios in the
environmental analysis are centered around the temper-
ature changes and how those will impact climate
change, including water, pollution, biodiversity, and re-
source use. Then, looking at the scenarios based on tem-
perature and geographies, a session was held to under-
stand and evaluate if this indicated any physical or cli-
mate-related risks or additional IROs not already identi-
fied and assessed. This was especially relevant to under-
stand whether the data centers in the value chain pose
a risk to the environment or Better Collective.
We consider our business model and current assets and
locations to be exposed to a low degree of climate- re-
lated risks and hazards and assess our resilience to be at
a high level. We have not identified any physical or tran-
sitional risks related to our business model, locations, or
business activities, which is our foundation for achieving
a high level of resilience based on the environmental
analysis. As detailed in the following section, internal di-
alogues inform our analysis, advice from external spe-
cialists, and the scenario analysis using bespoke tools to
assess our situation.
As we have done in the DMA in general, we have focused
on the short - to medium -term and the activities we
know and understand well. We have fewer insights into
the potential value chain risks that could indirectly affect
us but generally consider these less likely to pose a real
risk to our performance and financials. We do not con-
sider our identified impacts to directly influence our
overall business model or strategy over the short - or
medium-term. As an online business with a flexible busi-
ness model, we can adapt to varying geographical and
environmental conditions, ensuring further resilience in
the face of climate change.
Environmental analysis
In 2024, we collaborated with external
specialists in connection with our DMA for
all environmental-related topics. This re-
sulted in the development of an environ-
mental analysis assessing our largest sites
and upstream data centers . The Environ-
mental analysis is aligned with require-
ments set forth in the ESRSs related to re-
silience analysis and Scenario analysis.
The environmental analysis ultimately
concluded no transitional or physical risks
related to climate change, no actual or po-
tential pollution-related IROs. The environ-
mental analysis also found no actual or po-
tential biodiversity and ecosystems -re-
lated IROs, nor any transitional, physical or
systemic risks. The analysis also assessed
actual and potential IROs related to circu-
lar economy and water and marine re-
sources, concluding both topics are imma-
terial for Better Collective.
===== SIDA 85 =====
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Environmental IROs
(E1 IRO-1)
We have employed a combination of internal dialogues
and advisory from external experts to assess our situa-
tion adequately. Considering our GHG footprint, we con-
clude that we impact climate change, but it is not signif-
icant. We supplemented our DMA with an environmental
analysis using bespoke tools to assess environmentally
related IROs; as such, we have established a solid under-
standing of our current situation. In this regard, we also
discussed and evaluated whether scenarios for the fu-
ture would further expose risks to our business, includ-
ing activities and assets. Using this analysis, we have not
identified any significant future risks.
As part of the DMA and related analysis, we considered
the climate-related hazards and transition events listed
in the climate change application requirements. This ap-
proach is adequate to assess and understand our situa-
tion, especially because our potential exposures are lim-
ited. However, we will evaluate the potential benefits of
future upgrades, such as conducting further scenario
analysis based on additional conditions.
Policies (E1-2)
At Better Collective, we are committed to minimizing
our environmental footprint as part of our Sustainability
policy. While we do not have a formal Environmental
policy, we have established a long-term commitment to
implementing a precautionary approach to environmen-
tal challenges and reducing carbon emissions where
possible. Our environmental commitment is included in
our Sustainability policy.
Our policy addresses a precautionary approach to envi-
ronmental challenges and to minimize our carbon emis-
sions and thereby the related energy consumption. As
we are an online business, our environmental impact is
relatively small. Climate changes generally pose little
risk to our current and future operations as we have no
physical supply chain, and as such, we can operate al-
most anywhere. Still, we aim to minimize our carbon
footprint and thereby the related energy consumption,
and we are working towards setting a reduction target
We are working to establish a comprehensive carbon
footprint assessment across our operations to better un-
derstand our actual environmental impact. This founda-
tional work is intended to guide future sustainability in-
itiatives, ensuring that we can make more informed de-
cisions beyond our current focus areas, enabling us to
make the right choices.
Our Approach (E1-3)
We are committed to acting as responsible corporate
citizens. We recognize the importance of climate
change mitigation and are dedicated to expanding our
efforts across our operations in the future. Currently no
formalized monitoring and management of actions or
assessment of efficiency is in place.
One of the primary sources of carbon emissions in our
business is travel, particularly business -related travel.
This significantly influences our ambition to lower our
carbon footprint. To address this, our travel decisions
must consider both environmental and economic im-
pacts, balancing them against the benefits of in -person
meetings.
Beyond travel, our procurement choices contribute to
our carbon footprint, particularly in server hosting, IT in-
frastructure, and office equipment. When selecting sup-
pliers, we integrate environmental considerations into
the decision-making process.
Targets (E1-4)
We recognize our material impact on climate change
and acknowledge the importance of tracking and miti-
gating its environmental footprint. While we have not
yet set specific climate -related targets, we are actively
assessing our impact and exposure within o ur opera-
tions and value chain. Our approach identifies areas
where sustainability improvements can be made while
maintaining operational efficiency and responsible busi-
ness practices.
VALUE CHANGE LOCATION TIME HORIZON
Upstream Own
operations
Downstream Short-term Medium-term Long-Term
CLIMATE CHANGE
MITIGATION
Impact on climate caused
by CO2 emissions
Actual negative
impact
X X X X X X
ENERGY CONSUMPTION
Energy consumption re-
quired to support both our
business operations and
data centre activities.
Actual negative
impact
X X X X X X
===== SIDA 86 =====
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===== SIDA 87 =====
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Energy consumption and mix
(E1-5)
Gross scopes 1, 2, 3 and total GHG emissions
(E1-6)
Energy consumption and mix 2024
Total fossil energy consumption (MWh) 3,590
Consumption from nuclear sources (MWh) 0
Fuel consumption for renewable sources, including biomass (also comprising industrial and municipal waste of bio-
logic origin, biogas, renewable hydrogen, etc.) (MWh) 131
Consumption of purchased or acquired electricity, heat, steam, and cooling from renewable sources (MWh) 0
The consumption of self-generated non-fuel renewable energy (MWh) 0
Total renewable energy consumption (MWh) 131
Total energy consumption (MWh) 3,720
Scope 1 GHG emissions 2024
Gross Scope 1 GHG emissions (tCO2eq) 74
Percentage of Scope 1 GHG emissions from regulated emission trading schemes (%) 0
Scope 2 GHG emissions
Gross location-based Scope 2 GHG emissions (tCO2eq) 1,346
Gross market-based Scope 2 GHG emissions (tCO2eq) 1,844
Significant scope 3 GHG emissions
Total Gross indirect (Scope 3) GHG emissions (tCO2eq) 26,554
1. Purchased goods and services 4,363
2. Capital goods 461
3. Fuel and energy-related activities 429
6. Business travel 3,406
7. Employee commuting 575
11. Use of sold products 17,310
Total GHG emissions
Total (with location-based GHG emissions (tCO2eq) 27,964
Total (with market-based GHG emissions (tCO2eq) 28,461
GHG emission intensity/Net revenue
Location based - total GHG emissions per net revenue (tCO2e/EUR thousand) 0.0753
Market based - total GHG emissions per net revenue (tCO2e/EUR thousand) 0.0766
===== SIDA 88 =====
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Scope 1
Our scope 1 emissions derive from heating using oil and gas refrigerants to cool the offices . Better Collective are not
presenting last year's numbers, as they are not comparable due to the acquisition of PMKR, which resulted in the inclu-
sion of additional offices as well as new offices in Serbia and Malta for the BC Group, where it has not been possible to
recalculate the emissions for the acquired business units.
Scope 2
Our scope 2 accounts for office electricity and district heating. Better Collective are not presenting last year's numbers,
as they are not comparable due to the acquisition of PMKR, which resulted in the inclusion of additional offices as well
as new offices in Serbia and Malta for the BC Group, where it has not been possible to recalculate the emissions for the
acquired business units.
Accounting principles
Energy from non-renewable sources covers fuel consumption related to the Group’s fuel and natural gas con-
sumption related to the heating of office buildings. The input is based on consumption data from external
sources or estimates., which has then been converted into tons CO2 equivalents (tCO2e) using generic and/or
specific emission factors.
The emission factors used in scope 1 are the newest available from DEFRA, DEFRA (2024). The cooling gases
from DEFRA uses the 100-year time horizon global warming potential (GWP) values from the IPCC fifth Assess-
ment Report (AR5), and not the values from the IPCC Sixth Assessment Report, 2020 (AR6).
The estimated numbers are either based on the number of employees at the office or the size of the office and
calculated based on emission in comparable offices we have in the area.
GHG intensity
GHG intensity based on net revenue has been calculated as gross scope 1, S cope 2 location-based / market-
based, and gross scope 3 emissions divided by reported net revenue in tEUR.
Accounting principles
Scope 2 greenhouse gas (GHG) emissions refer to indirect emissions resulting from the generation of purchased
energy used by an organization. Scope 2 emissions occur at the facility where the energy is generated, thus
being classified as indirect emissions.
The emissions in scope 2 are linked to electricity and district heating consumption related to Better Collectives
office activities. The input is based on consumption data from e xternal sources or estimates., which has then
been converted into tons of CO2 equivalents (tCO2e) using generic and/or specific emission factors.
The estimated numbers are either based on the number of employees at the office or the size of the office and
calculated based on emission in comparable offices we have in the area.
Emission factors used in scope 2 are from IEA and AIB for location- and market-based electricity. Where appli-
cable, more locally available sources have been used, such as “Energinet” for Denmark. For district heating ,
DEFRA 2024 has been used internationally, and where applicable , locally available sources have been used as
well, such as “Miljødeklaration” for local Danish district heating, “Stockholm Exergi” for district heating in Swe-
den, etc.
Energy consumption
Energy consumption covers the same energy as scope 1 and 2. The consumption is based on consumption data
from external sources or estimates. The estimated numbers are either based on the number of employees at the
office or the size of the office and calculated based on consumption in comparable offices we have in the area.
Energy from purchased electricity, heat and cooling is assumed to originate from fossil sources as renewable or
nuclear energy has not been actively procured. Biomass fuels are reported as renewable.
===== SIDA 89 =====
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Scope 3
Scope 3 emissions are the indirect greenhouse gas emissions attributed to an organization’s value chain. The accounting principles for the reported categories are as follows.
Accounting principles
1 Purchased goods and services
GHG emissions associated with the Group’s purchase of goods and services are calculated as the direct cost associated with a specific type multiplied by a matching emission factor from EPA (2024) v1.3, direct-spend-based emission factors.
The direct cost has been converted to EUR using the average exchange rate for the year to align with the currency used in the spend-based emission factors.
2 Capital goods
GHG emissions associated with the Group’s additions to tangible assets are calculated as the capitalized cost associated with a specific type multiplied by a matching emission factor from Defra’s table of 13 direct-spend-based emission
factors. The capitalized amount has been converted to EUR using the average exchange rate for the year to align with the currency used in the spend-based emissions factors.
3 Fuel- and energy-related activities
GHG emissions related to fuel and energy-related activities not accounted for in Scope 1 or 2 comprise indirect emissions associated with producing purchased fuels and electricity. The GHG emissions in fuels and energy-related activities
are calculated using the consumption from Scope 1 and 2 and emission factors from DEFRA (2024) and IEA (2024).
6 Business travel
GHG emissions associated with the Group’s business travel activities are calculated as the direct cost associated with flight , taxi, train, bus, and accommodation multiplied by a matching emission factor from Defra (2024) table 13 or EPA
(2024) v1.3 direct-spend-based emission factors. The direct cost has been converted to EUR using the average exchange rate for the year to align with the currency used in the spend-based emission factors. Supplier-specific data: For the
category of flight and Hotel stays , emissions are based on supplier -specific data. To avoid double counting, the part of the direct cost related to supplier -specific data has been subtracted from the direct cost base of the spend -based
emission calculation. 59 % of the emissions is based on supplier specific data.
7 Employee commuting
GHG emissions related to employee commuting are linked to the indirect emissions generated from employees transportation between their homes and their places of work. Emissions have been calculated based on the answers to a Group-
wide survey in December 2024. The response rate was 37%. The survey included questions regarding: Means of transportation and type, distance to work, and average weekly days spent working in the office. These average commuting
weeks have then been multiplied by the aver age number of working weeks . The emissions related to working from home are calculated based on the assumed energy consumption related to working from home. To calculate the GHG
emissions, the 2024 version of Defra's business travel-land emission factors has been used.
11 Use of sold product
Use of sold products covers the scope 1 and 2 emissions associated with the use of sold products in the reporting year. For B etter Collective, this means user activity emissions on our various sites. We have collected information on the
number of hours and type of device used to access our sites, and this has been applied to the average data on electricity con sumption per hour of these devices. This energy consumption related to the use of our sites was applied to the
Global IEA (2024) electricity factor to calculate emissions from the use of our products.
===== SIDA 90 =====
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Scope 3 categories –
not material
We have assessed all categories in scope 3 to determine
whether they are material or relevant. The following cat-
egories are not relevant to our business model or activ-
ities:
4. Upstream transportation and distribution
This category has been deemed as non-material. As a
Media company, we primarily deliver services rather
than physical goods.
5. Waste
This category has been deemed as non-material. As a
Media company, we primarily deliver services and do not
have material waste from production, etc.
8. Upstream leased assets
This category has been deemed as non-material. We do
not have any leased assets that are not in our control.
9. Downstream transportation and distribution
This category has been deemed as non -material, as we
do not distribute materials to clients.
10. Processing of sold products
This category has been deemed as non -material. As an
Media company our business model is based on the de-
livery of services, meaning we do not sell physical prod-
ucts that require further processing by our clients.
12. End-of-life treatment of sold products
This category has been deemed non -material. End-of-
life treatment of sold products is not applicable to our
operations. We do not sell physical products that would
require disposal or treatment at the end of their lifecy-
cle.
13. Downstream leased assets
This category has been deemed as non -material, as we
do not act as a lessor. The group has subleases at the
office in Copenhagen, but the emission are included in
scope 1 and 2.
14. Franchises
This category has been deemed as non-material, as we
do not operate with franchises.
15. Investments
This category has been deemed non-material. As we do
not have investments.
===== SIDA 91 =====
Annual report Page 91
EU Taxonomy
The EU Taxonomy is a regulatory
framework introduced by the European
Union as a tool to aid in the transition
towards a greener and more sustainable
economy.
The EU Taxonomy addresses six environmental objec-
tives:
• Climate change mitigation
• Climate change adaptation
• Sustainable use and protection of water and marine
resources
• Transition to a circular economy
• Pollution prevention and control
• Protection and restoration of biodiversity and eco-
systems
We have reviewed and assessed which economic activ-
ities are eligible under the EU Taxonomy definition and
subsequently allocated financial numbers to these activ-
ities.
The annual process for assessing compliance with the
criteria outlined in Article 3 of Regulation (EU)
2020/852 has been conducted in three stages:
1. Screening of eligible economic activities
We reviewed the technical annexes from the Climate
Delegated Act, the Complementary Climate Delegated
Act, the Environmental Delegated Act, and amendments
to the Climate Delegated Act. Our goal was to identify
any potentially eligible economic activities relevant to
the revenue KPI and categories (a) and (c) of the CAPEX
and OPEX KPIs. During our evaluation period, we out-
lined areas with eligible economic activities that re-
quired further eligibility assessment.
2. Assessment of eligible economic activities
Each identified economic activity was evaluated to de-
termine how well the description in the annex corre-
sponds to Better Collective’s operations.
3. Assessment of the alignment of economic activities
For each eligible economic activity, we identified key in-
ternal stakeholders to assist in locating and gathering
the necessary documentation to satisfy the alignment
criteria.
Eligible activities
Our eligible economic activity for the financial year 2024
is:
Climate change mitigation
7.7. Acquisition and ownership of buildings
Aligned activities
Based on the screening process, we determined that
Better Collective’s current activities do not align with
any of the activities specified under the EU Taxonomy .
The eligible activit y do not live up to the technical
screening criteria.
Revenue
Better Collective’s main activities within sports media
and entertainment are excluded from the taxonomy un-
der 13.1 Creative, arts , and entertainment activities.
However, to ascertain whether Better Collective has any
other economic activities that could be eligible for the
taxonomy, the group has analyzed its business, which
shows that the Group has no activities that are eligible
under the taxonomy.
OPEX
Based on the screening process, we concluded that the
OPEX for Better Collective’s current activities do not
meet the EU Taxonomy eligibility criteria. However, we
will continue to monitor updates to the framework to as-
sess any future alignment opportunities as the taxono-
my's scope evolves.
CAPEX
Eligible CAPEX consists of additions to tangible assets,
such as property, plant, and equipment (including addi-
tions to leased assets), that are associated with Taxon-
omy-eligible activities.
Minimum safeguards
The minimum safeguards are part of the Taxonomy Reg-
ulation and are based on the recommendation from the
Technical Expert Group . They were included to ensure
that entities that are carrying out environmentally sus-
tainable activities that are labeled as Taxonomy-aligned
meet certain minimum governance standards and do
not negativ ely impact human rights , including labor
rights, corrupt practices, or are linked to non -compli-
ance with letter or spirit of tax laws or anti-competitive
practices.
Practically, this means that undertakings whose eco-
nomic activities are to be considered as Taxonomy -
aligned have to align with the standards for responsible
business conduct mentioned in:
• The OECD Guidelines for Multinational Enterprises
• The UN Guiding Principles on Business and Human
Rights, including the principles and rights set out in the
eight fundamental conventions identified in the Decla-
ration of the International Labor Organization on Funda-
mental Principles and Rights at Work
• The International Bill of Human Rights
Since Better Collective does not claim alignment based
on other technical criteria, the assessment of compli-
ance with minimum safeguards have not been assessed.
===== SIDA 92 =====
Annual report Page 92
NUCLEAR AND FOSSIL GAS-
RELATED ACTIVITIES
Taxonomy table for nuclear and gas as referred to in
Complimentary Climate Delegated Act. Better Collec-
tive does not engage in nuclear or fossil gas related ac-
tivities.
Nuclear energy-related activities
1
The undertaking carries out, funds or has exposures to research, development, demonstration and deploy-
ment of innovative electricity generation facilities that produce energy from nuclear processes with mini-
mal waste from the fuel cycle. NO
2
The undertaking carries out, funds or has exposures to construction and safe operation of new nuclear in-
stallations to produce electricity or process heat, including for the purposes of district heating or industrial
processes such as hydrogen production, as well as their safety upgrades, using best available technolo-
gies. NO
3
The undertaking carries out, funds or has exposures to safe operation of existing nuclear installations that
produce electricity or process heat, including for the purposes of district heating or industrial processes
such as hydrogen production from nuclear energy, as well as their safety upgrades. NO
Fossil gas-related activities
4
The undertaking carries out, funds or has exposures to construction or operation of electricity generation
facilities that produce electricity using fossil gaseous fuels. NO
5
The undertaking carries out, funds or has exposures to construction or operation of electricity generation
facilities that produce electricity using fossil gaseous fuels. NO
6
The undertaking carries out, funds or has exposures to construction, refurbishment and operation of heat
generation facilities that produce heat/cool using fossil gaseous fuels. NO
Accounting principles
Revenue
The proportion of revenue is calculated as the part of the net revenue derived from products or services associ-
ated with Taxonomy economic activities divided by the net revenue (Note 4 in the Financial Statements). Better
Collective do not have any eligible revenue.
OPEX
Non-capitalised costs that relate to research and development, building renovation measures, short-term lease,
maintenance and repair, and any other direct expenditures relating to the day -to-day servicing of assets of
property, plant and equipment by the undertaking or third party to whom activities are outsourced that are
necessary to ensure the continued and effective functioning of such assets. Better Collective do not have any
eligible OPEX.
CAPEX
CAPEX is calculated as the 'Addition of tangible and intangible assets', which is generated from note 12 and 14
of the consolidated financial statements. Included in the figures is the value from leasing of office buildings
(Capitalized under IFRS16). The CAPEX KPI is defined as Taxonomy-eligible capex (numerator) divided by total
CAPEX accounted based on IAS 16, IAS 38, IAS 40, IAS 41, IFRA 16 (denominator) which include additions to
business combinations without considering goodwill. 2023 numbers have been restated based on this ap-
proach.
Double counting
For the allocation of the numerator for CAPEX, we have first identified the relevant figures and then allocated
the primary related economic activity in the Climate Delegated Act. In this way, we ensure that no CAPEX is
considered more than once.
Contribution to multiple objectives
Regarding our identified economic activities, we note that none of these contribute to multiple objectives, as
there are only one eligible activities related to CAPEX.
Disaggregation of KPI’s
There has been no disaggregation of KPIs for any economic activity assessed.
===== SIDA 93 =====
Annual report Page 93
Substantial contributions % Do no significant harm
Y; N; N/EL; EL (Y/N)
Revenue Codes
Revenue
tEUR
Propor-
tion of
Revenue
2024
Climate
change
mitiga-
tion
Climate
change
adapta-
tion
Water
and ma-
rine re-
sources
Circular
economy Pollution
Biodiver-
sity
and eco-
systems
Climate
change
mitiga-
tion
Climate
change
adapta-
tion
Water
and ma-
rine re-
sources
Circular
economy Pollution
Biodiver-
sity
and eco-
systems
Minimum
safe-
guards
Taxon-
omy
aligned
Revenue
2023
Enabling
activity
Transi-
tional
activity
A. Taxonomy-eligible activities
A.1 Environmentally sustainable activities (taxonomy -
aligned)
Revenue of environmentally sustainable activities
(Taxonomy-aligned) (A.1) 0 0% 0%
Of which enabling
Of which transitional
A. Taxonomy-eligible activities
A.2 Taxonomy-eligible but not environmentally sus-
tainable activities (not Taxonomy-aligned activities)
Revenue of Taxonomy-eligible but not environmentally
sustainable activities (not Taxonomy aligned activi-
ties) (A.2) 0 0% 0%
Revenue of Taxonomy-eligible activities (A.1 + A.2) 0 0% 0%
B. Revenue of Taxonomy non eligible activities (B)
Revenue of Taxonomy non-eligible activities (B)
371,487 100%
Total (A+B) 371,487 100%
===== SIDA 94 =====
Annual report Page 94
Substantial contributions % Do no significant harm
Y; N; N/EL; EL (Y/N)
OPEX Codes
OPEX
tEUR
Propor-
tion of
OPEX
2024
Climate
change
mitiga-
tion
Climate
change
adapta-
tion
Water
and ma-
rine re-
sources
Circular
econ-
omy Pollution
Biodi-
versity
and eco-
systems
Climate
change
mitiga-
tion
Climate
change
adapta-
tion
Water
and ma-
rine re-
sources
Circular
econ-
omy Pollution
Biodi-
versity
and eco-
systems
Mini-
mum
safe-
guards
Taxon-
omy
aligned
OPEX
2023
Enabling
activity
Transi-
tional
activity
A. Taxonomy-eligible activities
A.1 Environmentally sustainable activities (taxonomy -
aligned)
OPEX of environmentally sustainable activities (Taxon-
omy-aligned) (A.1) 0 0% 0%
Of which enabling
Of which transitional
A. Taxonomy-eligible activities
A.2 Taxonomy-eligible but not environmentally sus-
tainable activities (not Taxonomy-aligned activities)
OPEX of Taxonomy-eligible but not environmentally
sustainable activities (not Taxonomy aligned activi-
ties) (A.2) 0 0% 0%
OPEX of Taxonomy-eligible activities (A.1 + A.2) 0 0% 0%
B. Taxonomy non eligible activities (B)
OPEX of Taxonomy non-eligible activities (B)
258,084 100%
Total (A+B) 258,084 100%
===== SIDA 95 =====
Annual report Page 95
Substantial contributions % Do no significant harm
Y; N; N/EL; EL (Y/N)
CAPEX Codes
CAPEX
tEUR
Propor-
tion of
CAPEX
2024
Climate
change
mitiga-
tion
Climate
change
adapta-
tion
Water
and ma-
rine re-
sources
Circular
economy Pollution
Biodiver-
sity
and eco-
systems
Climate
change
mitiga-
tion
Climate
change
adapta-
tion
Water
and ma-
rine re-
sources
Circular
economy Pollution
Biodiver-
sity
and eco-
systems
Minimum
safe-
guards
Taxon-
omy
aligned
CAPEX
2023*
Enabling
activity
Transi-
tional
activity
A. Taxonomy-eligible activities
A.1 Environmentally sustainable activities (taxonomy -
aligned)
CAPEX of environmentally sustainable activities (Tax-
onomy-aligned) (A.1) 0 0% 0%
Of which enabling
Of which transitional
A. Taxonomy-eligible activities
A.2 Taxonomy-eligible but not environmentally sus-
tainable activities (not Taxonomy-aligned activities)
Acquisition and ownership of buildings
CCM
7.7 6,280 4% EL N/EL N/EL N/EL N/EL N/EL 15%
CAPEX of Taxonomy-eligible but not environmentally
sustainable activities (not Taxonomy aligned activi-
ties) (A.2) 6,280 4%
CAPEX of Taxonomy-eligible activities (A.1 + A.2) 6,280 4% 4% 0% 0% 0% 0% 0% 15%
B. Taxonomy non eligible activities (B)
CAPEX of Taxonomy-non eligible activities (B)
149,115 96%
Total (A+B) 155,395 100%
*The share for 2023 has been restated as detailed in section ‘Accounting Principles’.
===== SIDA 96 =====
Annual report Page 96
Appendix
EU legislation data points
(IRO-2)
The table below outlines the data points derived from
other EU legislation as listed in ESRS 2 Appendix B. It
indicates where these data points can be found in our
report and identifies which data points are assessed as
‘Not material’
DISCLOSURE
REQUIREMENT DATA POINT SFDR REFERENCE PILLAR 3 REFERENCE BENCHMARK REFERENCE
REGULATION EU CLIMATE LAW PAGE/RELEVANCE
ESRS 2 GOV-1
21 (d) Board's gender diversity X X 27
ESRS 2 GOV-1
21 (e) Percentage of board members who
are independent X 27
ESRS 2 GOV-4
30 Statement on due diligence X 48
ESRS 2 SBM-1
40 (d) i Involvement in activities related to
fossil fuel activities X X X Not relevant
ESRS 2 SBM-1
40 (d) ii Involvement in activities related to
chemical production X X Not relevant
ESRS 2 SBM-1
40 (d) iii Involvement in activities related to
controversial weapons X X Not relevant
ESRS 2 SBM-1
40 (d) iv
Involvement in activities related to
cultivation and production of to-
bacco
X Not relevant
ESRS E1-1
14 Transition plan to reach climate
neutrality by 2050 X Not relevant
ESRS E1-1
16 (g) Undertakings excluded from Paris-
aligned Benchmarks X X Not relevant
===== SIDA 97 =====
Annual report Page 97
ESRS E1-4
34 GHG emission reduction targets X X X Not relevant
ESRS E1-5
38
Energy consumption from fossil
sources disaggregated by sources X Not relevant
ESRS E1-5
37 Energy consumption and mix X 87
ESRS E1-5
40-43
Energy intensity associated with
activities in high climate impact
sectors
X Not relevant
ESRS E1-6
44 Gross Scope 1, 2, 3 and Total GHG
emissions X X X 87
ESRS E1-6
53-55 Gross GHG emissions intensity X X X 87
ESRS E1-7
56 GHG removals and carbon credits X Not relevant
ESRS E1-9
66 Exposure of the benchmark portfo-
lio to climate-related physical risks X Not relevant
ESRS E1-9
66 (a)
Disaggregation of monetary
amounts by acute and chronic
physical risk
Not relevant
ESRS E1-9
66 (c) Location of significant assets at ma-
terial physical risk X Not relevant
ESRS E1-9
67 (c)
Breakdown of the carrying value of
its real estate assets by energy-effi-
ciency classes
X Not relevant
ESRS E1-9
69 Degree of exposure of the portfolio
to climate-related opportunities X Not relevant
ESRS E2-4
28
Amount of each pollutant listed in
Annex II of the E-PRTR Regulation
emitted to air, water and soil
X Not relevant
ESRS E3-1
9 Water and marine resources X Not relevant
ESRS E3-1
13 Dedicated policy X Not relevant
===== SIDA 98 =====
Annual report Page 98
ESRS E3-1
14 Sustainable oceans and seas X Not relevant
ESRS E3-4
28 (c) Total water recycled and reused X Not relevant
ESRS E3-4
29 Total water consumption in m3 per
net revenue on own operations X Not relevant
ESRS 2 SBM 3 - E4
16 (a) i Biodiversity sensitive areas X Not relevant
ESRS 2 SBM 3 - E4
16 (b)
Land impacts
X Not relevant
ESRS 2 SBM 3 - E4
16 © Threatened species X Not relevant
ESRS E4-2
24 (c) Sustainable oceans/seas practices
or policies X Not relevant
ESRS E4-2
24 (d) Policies to address deforestation X Not relevant
ESRS E5-5
37 (d) Non-recycled waste X Not relevant
ESRS E5-5
39 Hazardous waste and radioactive
waste X Not relevant
ESRS 2 SBM3 - S1
14 (f) Risk of incidents of forced labor X Not material
ESRS 2 SBM3 - S1
14 (g) Risk of incidents of child labor X Not material
ESRS S1-1
20 Human rights policy commitments X 56; 101
ESRS S1-1
21
Sustainability due diligence policies
on issues addressed by the funda-
mental International Labor Organi-
zation Conventions 1 to 8
X 56
ESRS S1-1
22 Processes and measures for pre-
venting trafficking in human beings X Not material
===== SIDA 99 =====
Annual report Page 99
ESRS S1-1
23 Workplace accident prevention pol-
icy or management system X 55
ESRS S1-3
32 (c) Grievance/complaints handling
mechanisms X 61
ESRS S1-14
88 (b), (c) Number of fatalities and number
and rate of work-related accidents X X 68
ESRS S1-14
88 (e) Number of days lost to injuries, ac-
cidents, fatalities or illness X 68
ESRS S1-16
97 (a) Unadjusted gender pay gap X X 70
ESRS S1-16
97 (b)
Excessive CEO pay ratio
X 70
ESRS S1-17
103 (a) Incidents of discrimination X 71
ESRS S1-17
104 (a)
Non-respect of UNGPs on Business
and Human Rights and OECD
Guidelines
X X 71
ESRS 2 SBM3 – S2
11 (b) Significant risk of child labor or
forced labor in the value chain X Not material
ESRS S2-1
17 Human rights policy commitments X Not material
ESRS S2-1
18 Policies related to value chain
workers X Not material
ESRS S2-1
19
Non-respect of UNGPs on Business
and Human Rights principles and
OECD guidelines
X X Not material
ESRS S2-1
19
Sustainability due diligence policies
on issues addressed by the funda-
mental International Labor Organi-
zation Conventions 1 to 8
X Not material
ESRS S2-4
36
Human rights issues and incidents
connected to its upstream and
downstream value chain
X Not material
ESRS S3-1
16 Human rights policy commitments X Not material
===== SIDA 100 =====
Annual report Page 100
ESRS S3-1
17
Non-respect of UNGPs on Business
and Human Rights, ILO principles or
OECD guidelines
X X Not material
ESRS S3-4
36 Human rights issues and incidents X Not material
ESRS S4-1
16 Policies related to consumers and
end-users X 54-57; 73
ESRS S4-1
17
Non-respect of UNGPs on Business
and Human Rights and OECD
guidelines
X X 54-57; 73
ESRS S4-4
35 Human rights issues and incidents X Not material
ESRS G1-1
10 (b) United Nations Convention against
Corruption X 79
ESRS G1-1
10 (d) Protection of whistleblowers X 79
ESRS G1-4
24 (a) Fines for violation of anti-corrup-
tion and anti-bribery laws X X 80
ESRS G1-4
24(b) Standards of anti-corruption and
anti-bribery X 80
===== SIDA 101 =====
Annual report Page 101
Human rights
1. Support and respect the protection of internationally proclaimed human rights
2. Make sure that they are not complicit in human rights abuses
Labor
3. Uphold the freedom of association and the effective recognition of the right to collective bargaining
4. The elimination of all forms of forced and compulsory labor
5. The effective abolition of child labor
6. The elimination of discrimination in respect of employment and occupation
Work against corruption in all its forms, including extortion and bribery
UN Global Compact
In 2019, Better Collective committed to incorporate the
UN Global Compact and its 10 principles into our strat-
egy, culture, and day -to-day operations. As a result of
our participation, we are committed to observing the
Global Compact’s 10 fundamental principles. Read more
about the Global Compact and its principles at
www.un-
globalcompact.org.
In 2022, we further signed the UN’s Women Empower-
ment Principles. The principles are the result of collabo-
ration between the UN Global Compact and UN Women,
and are adapted from the Calvert Women's Principles.
By signing the statement Better Collective committed to
use the seven principles as guid ing for actions that ad-
vance and empower women in the workplace and com-
munity.
Annual report Page 101
===== SIDA 102 =====
Annual report Page 102
Disclosure requirements
• SS = Sustainability statements
• RR = Remuneration report
• CG = Corporate governance
• MR = Management report
• Cross-cutting
ESRS 2 GENERAL DISCLOSURE SECTION REPORT PAGE(S)
BP-1 General basis for preparation of the sustainability statement SS 45
BP-2 Disclosures in relation to specific circumstances SS 45
GOV-1 The role of the administrative, management, and supervisory bodies SS and CG 24; 27; 45-47
GOV-2 Information provided to and sustainability matters addressed by the undertaking’s administrative, management , and supervi-
sory bodies SS 47
GOV-3 Integration of sustainability-related performance in incentive schemes RR and SS 30-31; 47
GOV-4 Statement on sustainability due diligence SS 48
GOV-5 Risk management and internal controls over sustainability reporting SS and CG 32-35; 48
SBM-1 Strategy, business model and value chain SS and MR 13; 49
SBM-2 Interests and views of stakeholders SS 50-51
SBM-3 Material impacts, risks and opportunities and their interaction with strategy and business model SS 13-14
IRO-1 Description of the process to identify and assess material impacts, risks and opportunities SS 53-54; 85
IRO-2 Disclosure requirements in ESRS covered by the undertaking’s sustainability statement SS 96-100; 102-106
Cross-cutting standards
===== SIDA 103 =====
Annual report Page 103
ESRS 2 CLIMATE CHANGE SECTION REPORT PAGE(S)
ESRS 2, GOV-3 Integration of sustainability-related performance in incentive schemes SS 47
E1-1 Transition plan for climate change mitigation SS 84
ESRS 2, SBM-3 Material impacts, risks and opportunities, and their interaction with strategy and business model SS 52; 84
ESRS 2, IRO-1 Description of the processes to identify and assess material climate-related impacts, risks and opportunities SS 53-54; 78; 85
E1-2 Policies related to climate change mitigation and adaptation SS 56; 85
E1-3 Actions and resources in relation to climate change policies SS 85
E1-4 Targets related to climate change mitigation and adaptation SS 85
E1-5 Energy consumption and mix SS 87-88
E1-6 Gross Scopes 1, 2, 3 and total GHG emissions SS 87-90
ESRS E2 POLLUTION
ESRS 2, IRO-1 Description of the processes to identify and assess material pollution-related impacts, risks and opportunities SS 53-54; 85
ESRS E3 WATER AND MARINE RESOURCES
ESRS 2, IRO-1 Description of the processes to identify and assess material pollution-related impacts, risks and opportunities SS 53-54; 85
ESRS E4 BIODIVERSITY AND ECOSYSTEMS
ESRS 2, IRO-1 Description of the processes to identify and assess material pollution-related impacts, risks and opportunities SS 53-54; 85
ESRS E5 RESOURCE USE AND CIRCULAR ECONOMY
ESRS 2, IRO-1 Description of the processes to identify and assess material pollution-related impacts, risks and opportunities SS 53-54; 85
Environmental standards
===== SIDA 104 =====
Annual report Page 104
ESRS S1 OWN WORKFORCE SECTION REPORT PAGE(S)
ESRS 2 SBM-2 Interests and views of stakeholders SS 50-51
ESRS 2 SBM-3 Material impacts, risks and opportunities and their interaction with strategy and business model SS 52; 58-59
S1-1 Policies related to own workforce SS 54-57; 60; 101
S1-2 Processes for engaging with own workers and workers’ representatives about impacts SS 61
S1-3 Processes to remediate negative impacts and channels for own workers to raise concerns SS 61-62
S1-4 Taking action on material impacts on own workforce, and approaches to mitigating material risks and pursuing material op-
portunities related to own workforce, and effectiveness of those actions SS 62-63
S1-5 Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and oppor-
tunities
SS 63-64
S1-6 Characteristics of the undertaking’s employees SS 65-66
S1-9 Diversity metrics SS 29; 67
S1-14 Health and safety metrics SS 68
S1-15 Work-life balance metrics SS 69
S1-16 Compensation metrics (pay gap and total compensation) SS 70
S1-17 Incidents, complaints and severe human rights impacts SS 71
Social standards
===== SIDA 105 =====
Annual report Page 105
ESRS S4 CONSUMERS AND END-USERS
ESRS 2 SBM-2 Interests and views of stakeholders SS 50-51
ESRS 2 SBM-3 Material impacts, risks and opportunities and their interaction with strategy and business model SS 52; 72
S4-1 Policies related to consumers and end-users SS 54-57; 73
S4-2 Processes for engaging with consumers and end-users about impacts SS 74
S4-3 Processes to remediate negative impacts and channels for consumers and end-users to raise concerns SS 74
S4-4 Taking action on material impacts on consumers and end -users, and approaches to managing material risks and pursuing
material opportunities related to consumers and end-users, and effectiveness of those actions SS 74
S4-5 Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and oppor-
tunities SS 76
ESRS G1 GOVERNANCE SECTION REPORT PAGE(S)
ESRS 2 GOV-1 The role of the administrative, supervisory and management bodies CG and SS 23; 77
ESRS 2 IRO-1 Description of the processes to identify and assess material impacts, risks and opportunities SS 53-54; 77-78
G1-1 Business conduct policies and corporate culture SS 79
G1-3 Prevention and detection of corruption and bribery SS 80
G1-4 Incidents of corruption or bribery SS 80
Governance standards
Social standards
===== SIDA 106 =====
Annual report Page 106
ESRS 2 MDR SAFER GAMBLING SECTION REPORT PAGE(S)
ESRS 2 IRO-1 Description of the processes to identify and assess material impacts, risks, and opportunities SS 74-75
MDR-P Policies adopted to manage material sustainability matters SS 54-57
MDR-A Actions and resources in relation to material sustainability matters SS 74-75
MDR-M Metrics in relation to material sustainability matters SS 81-82
MDR-T Tracking effectiveness of policies and actions through targets SS 75-76
ESRS 2 MDR CONTRIBUTION TO LOCAL COMMUNITIES
ESRS 2 IRO-1 Description of the processes to identify and assess material impacts, risks and opportunities SS 53-54; 82
MDR-P Policies adopted to manage material sustainability matters SS 82
MDR-A Actions and resources in relation to material sustainability matters SS 82
MDR-P Metrics in relation to material sustainability matters SS 83
MDR-T Tracking effectiveness of policies and actions through targets SS 83
ESRS 2 MDR TAX TRANSPARENCY
ESRS 2 IRO-1 Description of the processes to identify and assess material impacts, risks and opportunities SS 53-54; 81
MDR-P Policies adopted to manage material sustainability matters SS 81
MDR-A Actions and resources in relation to material sustainability matters SS 81
MDR-M Metrics in relation to material sustainability matters SS N/A
MDR-T Tracking effectiveness of policies and actions through targets SS 81
MDR entity specific disclosures
===== SIDA 107 =====
Annual report Page 107
Statement by Management 108
Independent Auditors’ Report 109
Independent Auditors’ limited assurance report
on Sustainability Statements 113
Annual report Page 107
Statements
===== SIDA 108 =====
Annual report Page 108
Statement by
Management
The Board of Directors and the Executive Board have to-
day discussed and approved Better Collective A/S's
2024 annual report.
The annual report has been prepared in accordance with
International Financial Reporting Standards as adopted
by the EU and additional requirements of the Danish Fi-
nancial Statements Act.
It is our opinion that the consolidated financial state-
ments and the parent company's financial statements
give a true and fair view of the group and parent com-
pany's financial position on December 31, 2024 , and of
the results of the group’s and the parent company’s op-
erations and cash flows for the financial year January 1 –
December 31, 2024.
Further, in our opinion, the management’s review gives
a fair review of the development in the group’s and the
parent company’s activities and financial matters, re-
sults of operations, cash flows, and financial position, as
well as a description of material risks and uncertainties
that the group and the parent company face.
The Sustainability Statements are prepared in accord-
ance with the European Sustainability Reporting
Standards (ESRS), as required by the Danish Financial
Statements Act, section 99a, and article 8 of the EU Tax-
onomy regulation.
The year 2024 marks the initial implementation of para-
graph 99a of the Danish Financial Statements Act con-
cerning compliance with ESRS. As such, clearer guid-
ance and practice are anticipated in various areas, which
are expected to be issued in the coming years. Further-
more, the sustainability statement includes forward -
looking statements based on disclosed assumptions
about events that may occur in the future and possible
future actions by the Group. Actual outcomes are likely
to be different since anticipa ted events frequently do
not occur as expected
In our opinion, the annual report for the financial year
January 1 – December 31, 2024, with the file name bet-
tercollective-2024-12-31-en.zip , is prepared, in all mate-
rial respects, in compliance with the ESEF Regulation.
We recommend that the annual report be approved at
the annual general meeting.
Copenhagen, March 25, 2025
Executive Management
Jesper Søgaard
CEO & Co-founder
Christian Kirk Rasmussen
COO & Co-founder
Executive Vice President
Flemming Pedersen
CFO
Executive Vice President
Board of Directors
Jens Bager
Chair
Therese Hillman
Vice Chair
Britt Boeskov
Todd Dunlap
Petra von Rohr
Leif Nørgaard René Rechtman
===== SIDA 109 =====
Annual report Page 109
Independent Auditors’
Report
To the shareholders of
Better Collective A/S
Opinion
We have audited the consolidated financial statements
and the parent company financial statements of Better
Collective A/S for the financial year 1 January – 31 De-
cember 2024, which comprise income statement, state-
ment of comprehensive income, balance sh eet, state -
ment of changes in equity, cash flow statement and
notes, including material accounting policy information,
for the Group and the Parent Company. The consoli -
dated financial statements and the parent company fi -
nancial statements are prepared in accordance with
IFRS Accounting Standards as adopted by the EU and
additional requirements of the Danish Financial State -
ments Act.
In our opinion, the consolidated financial statements
and the parent company financial statements give a true
and fair view of the financial position of the Group and
the Parent Company at 31 December 2024 and of the re-
sults of the Group's and the Parent Company's opera-
tions and cash flows for the financial year 1 January – 31
December 2024 in accordance with IFRS Accounting
Standards as adopted by the EU and additional require-
ments of the Danish Financial Statements Act.
Our opinion is consistent with our long -form audit re -
port to the Audit Committee and the Board of Directors.
Basis for opinion
We conducted our audit in accordance with Interna -
tional Standards on Auditing (ISAs) and additional re -
quirements applicable in Denmark. Our responsibilities
under those standards and requirements are further de-
scribed in the "Auditor's responsibilities for the audit of
the consolidated financial statements and the Parent
Company financial statements" (hereinafter collectively
referred to as "the financial statements") section of our
report. We believe that the audit evidence we have ob-
tained is sufficient and appropriate to provide a basis for
our opinion.
Independence
We are independent of the Group in accordance with the
International Ethics Standards Board for Accountants'
International Code of Ethics for Professional Account-
ants (IESBA Code) and the additional ethical require-
ments applicable in Denmark, and we have fulfilled our
other ethical responsibilities in accordance with these
requirements and the IESBA Code.
To the best of our knowledge, we have not provided any
prohibited non-audit services as described in article 5(1)
of Regulation (EU) no. 537/2014.
Appointment of auditor
On 8 June 2018, Better Collective A/S completed its Ini-
tial Public Offering and was admitted to trading and of-
ficial listing on Nasdaq Stockholm. Subsequent to Better
Collective A/S being listed on Nasdaq Stockholm, we
were initially appointed as auditor of Better Collective
A/S on 25 April 2019 for the financial year 2019. We have
been reappointed annually by resolution of the general
meeting for a total consecutive period of 6 years up until
and including the financial year 2024.
Key audit matters
Key audit matters are those matters that, in our profes-
sional judgement, were of most significance in our audit
of the financial statements for the financial year 2024.
These matters were addressed during our audit of the
financial statements as a whole and in forming our opin-
ion thereon. We do not provide a separate opinion on
these matters. For each matter below, our description of
how our audit addressed the matter is provided in that
context.
We have fulfilled our responsibilities described in the
"Auditor's responsibilities for the audit of the financial
statements" section, including in relation to the key au-
dit matters below. Accordingly, our audit included the
design and performance of procedures to respond to
our assessment of the risks of material misstatement of
the financial statements. The results of our audit proce-
dures, including the procedures performed to address
the matters below, provide the basis for our audit opin-
ion on the financial statements.
Recoverability of the carrying amount goodwill, do-
mains and websites
Goodwill as well as domains and websites with indefinite
life are not subject to amortisation, but are reviewed an-
nually for impairment, or more frequently if any indica-
tors of impairment are identified. Recoverability of the
carrying amount of goodwill, domains and websites is
significant to our audit due to the carrying values as well
as the management judgement involved in the assess-
ment of the carrying values, assessment of indefinite life
and judgements involved in impairment testing of the
goodwill, domains and websites.
Management prepares and reviews impairment tests for
each of the four identified cash-generating units. Impair-
ment testing is based on the estimated recoverable
amounts of the assets, which for this purpose are deter-
mined based on the value in use. The value in use is
based on a discounted cash flow (DCF) model and is cal-
culated for each cash-generating unit.
Refer to note 13 in the consolidated financial statements
and to note 11 in the financial statements for the Parent
Company.
===== SIDA 110 =====
Annual report Page 110
How our audit addressed the above key audit matter
Our audit procedures included:
• Assessment of the indefinite life assumption in-
cluding examination of data provided by manage-
ment and other sources as well as inquiries to man-
agement and comparison with industry practice for
comparable companies.
• Evaluation of main principles and assumptions for
Management’s identification and assessment of
CGUs.
• Evaluation of the value-in-use model used by Man-
agement, including consideration of the cash-gen-
eration units defined by Management and the rea-
sonableness of key assumptions and input based
on our knowledge of the business and industry to-
gether with available supporting evidence such as
available budgets and externally observable mar-
ket data related to interest rates.
• Evaluation of the disclosures provided by Manage-
ment in note 13 to the consolidated financial state-
ments and in note 11 to the Parent Company finan-
cial statements to applicable accounting standards.
Revenue recognition
The Group’s revenue consists of different revenue
streams, that either are recognized at a point in time or
over time. Further, the Group has agreements with op-
erators that include variable consideration, which is
recognized based on expected performance for the con-
tract period.
Revenue recognition and measurement of the related
variable consideration for the Group was a matter of
most significance in our audit due to the inherent risk in
the estimates and judgements which Management
makes in the normal course of business as to ti ming of
revenue and measurement of variable consideration.
For details on the revenue, reference is made to note 4
in the consolidated financial statements and to note 2 in
the financial statements for the parent company.
How our audit addressed the above key audit matter
Our audit procedures included:
• Test on a sample basis recognized revenue and re-
lated variable considerations to agreements with
operators.
• Data analytical procedures to test completeness,
accuracy, and timing of the recognition of revenue
and related variable consideration.
• Test of revenue accruals, revenue deferrals , and
sales transactions, recognized before and after the
balance sheet date to contracts and other support-
ing documentation to assess proper revenue cut -
off.
• Assessment of whether the applied revenue recog-
nition criteria follow the Group’s accounting
policies as disclosed in note 4 to the consolidated
financial statements.
• Evaluation of the disclosures provided by Manage-
ment in note 4 to the consolidated financial state-
ments and in note 2 to the financial statement for
the parent company to applicable accounting
standards.
Accounting for acquisitions
The Group has in 2024 completed two business combi-
nations. Management has determined the fair value of
the identifiable assets and liabilities acquired. The total
consideration for the two business combinations
amounts to EUR 153 million.
Due to the significant level of management judgement
involved estimating the fair value of especially the intan-
gible assets acquired, we considered the accounting for
acquisitions of most significance in our audit.
For details on the acquisitions, reference is made to note
21 in the consolidated financial statements.
How our audit addressed the above key audit matter
Our audit procedures included:
• Assessment of the assumptions and methodology
applied by management to calculate the fair value
of intangible assets acquired as well as the contin-
gent consideration. We have considered the ap-
proach taken by Management, assessed key
assumptions, and obtained evidence for the expla-
nations provided, by comparing key assumptions
to market data, where available, underlying ac-
counting records, past performance of the acquired
businesses and Management’s forecasts support-
ing the acquisitions.
• Assessment of the adequacy of the disclosures in
note 21 related to the acquisitions, including the fair
value of acquired intangible assets, compared to
applicable accounting standards.
Statement on the Management’s review
Management is responsible for the Management's re-
view.
Our opinion on the financial statements does not cover
the Management's review, and we do not as part of our
audit express any assurance conclusion thereon.
In connection with our audit of the financial statements,
our responsibility is to read the Management's review
and, in doing so, consider whether the Management's re-
view is materially inconsistent with the financial state-
ments, or our knowledge obtained d uring the audit, or
otherwise appears to be materially misstated.
Moreover, it is our responsibility to consider whether the
Management's review provides the information required
by relevant law and regulations. This does not include
the requirements in paragraph 99a related to the sus-
tainability statement covered by the separate auditor’s
limited assurance report hereon.
===== SIDA 111 =====
Annual report Page 111
Based on our procedures, we conclude that the Manage-
ment's review is in accordance with the financial state-
ments and has been prepared in accordance with the re-
quirements of relevant law and regulations. We did not
identify any material misstatement of the Management's
review.
Management’s responsibilities for the
financial statements
Management is responsible for the preparation of con-
solidated financial statements and parent company fi-
nancial statements that give a true and fair view in ac-
cordance with IFRS Accounting Standards as adopted
by the EU and additional requirements of the Danish Fi-
nancial Statements Act and for such internal control as
Management determines is necessary to enable the
preparation of financial statements that are free from
material misstatement, whether due to fraud or error.
In preparing the financial statements, Management is re-
sponsible for assessing the Group's and the Parent Com-
pany's ability to continue as a going concern, disclosing,
as applicable, matters related to going concern and us-
ing the going concern basis of accounting in preparing
the financial statements unless Management either in-
tends to liquidate the Group or the Parent Company or
to cease operations, or has no realistic alternative but to
do so.
Auditor’s responsibilities for the audit of
the financial statements
Our objectives are to obtain reasonable assurance as to
whether the financial statements as a whole are free
from material misstatement, whether due to fraud or er-
ror, and to issue an auditor's report that includes our
opinion. Reasonable assurance is a high level of assur-
ance, but is not a guarantee that an audit conducted in
accordance with ISAs and additional requirements ap-
plicable in Denmark will always detect a material mis-
statement when it exists. Misstatements can arise from
fraud or error and are considered material if, individually
or in the aggregate, they could reasonably be expected
to influence the economic decisions of users taken on
the basis of the financial statements.
As part of an audit conducted in accordance with ISAs
and additional requirements applicable in Denmark, we
exercise professional judgement and maintain profes-
sional scepticism throughout the audit. We also:
• Identify and assess the risks of material misstate-
ment of the financial statements, whether due to
fraud or error, design and perform audit proce-
dures responsive to those risks and obtain audit ev-
idence that is sufficient and appropriate to provide
a basis for our opinion. The risk of not detecting a
material misstatement resulting from fraud is
higher than for one resulting from error, as fraud
may involve collusion, forgery, intentional
omissions, misrepresentations or the override of in-
ternal control.
• Obtain an understanding of internal control rele-
vant to the audit in order to design audit proce-
dures that are appropriate in the circumstances,
but not for the purpose of expressing an opinion on
the effectiveness of the Group's and the Parent
Company's internal control.
• Evaluate the appropriateness of accounting poli-
cies used and the reasonableness of accounting es-
timates and related disclosures made by Manage-
ment.
• Conclude on the appropriateness of Management's
use of the going concern basis of accounting in pre-
paring the financial statements and, based on the
audit evidence obtained, whether a material uncer-
tainty exists related to events or conditions that
may cast significant doubt on the Group's and the
Parent Company's ability to continue as a going
concern. If we conclude that a material uncertainty
exists, we are required to draw attention in our au-
ditor's report to the related disclosures in the finan-
cial sta tements or, if such disclosures are inade-
quate, to modify our opinion. Our conclusions are
based on the audit evidence obtained up to the
date of our auditor's report. However, future events
or conditions may cause the Group and the Parent
Company to cease to continue as a going concern.
• Evaluate the overall presentation, structure and
contents of the financial statements, including the
note disclosures, and whether the financial state-
ments represent the underlying transactions and
events in a manner that gives a true and fair view.
• Plan and perform the group audit to obtain suffi-
cient appropriate audit evidence regarding the fi-
nancial information of the entities or business units
within the group as a basis for forming an opinion
on the group financial statements. We are respon-
sible for the direction, supervision and review of
the audit work performed for purposes of the
group audit. We remain solely responsible for our
audit opinion
We communicate with those charged with governance
regarding, among other matters, the planned scope
and timing of the audit and significant audit findings,
including any significant deficiencies in internal control
that we identify during our audit.
We also provide those charged with governance with a
statement that we have complied with relevant ethical
requirements regarding independence, and to com-
municate with them all relationships and other matters
that may reasonably be thought to bear on our inde-
pendence, and where applicable, actions taken to elimi-
nate threats or safeguards applied.
From the matters communicated with those charged
with governance, we determine those matters that
were of most significance in the audit of the
===== SIDA 112 =====
Annual report Page 112
consolidated financial statements and the Parent Com-
pany financial statements of the current period and are
therefore the key audit matters. We describe these
matters in our auditor's report unless law or regulation
precludes public disclosure about the matter.
Report on compliance with the ESEF
Regulation
As part of our audit of the Consolidated Financial State-
ments and Parent Company Financial Statements of
Better Collective A/S, we performed procedures to ex-
press an opinion on whether the annual report of Better
Collective A/S for the financial year 1 January – 31 De-
cember with the file name bettercollective -2024-12-31-
en.zip is prepared, in all material respects, in compliance
with the Commission Delegated Regulation (EU)
2019/815 on the European Single Electronic Format
(ESEF Regulation) which includes requirements related
to the preparation of the annual report in XHTML format
and iXBRL tagging of the Consolidated Financial State-
ments including notes.
Management is responsible for preparing an annual re-
port that complies with the ESEF Regulation. This re-
sponsibility includes:
• The preparing of the annual report in XHTML for-
mat;
• The selection and application of appropriate iXBRL
tags, including extensions to the ESEF taxonomy
and the anchoring thereof to elements in the
taxonomy, for all financial information required to
be tagged using judgement where necessary;
• Ensuring consistency between iXBRL tagged data
and the Consolidated Financial Statements pre-
sented in human readable format; and
• For such internal control as Management deter-
mines necessary to enable the preparation of an
annual report that is compliant with the ESEF Reg-
ulation.
Our responsibility is to obtain reasonable assurance on
whether the annual report is prepared, in all material re-
spects, in compliance with the ESEF Regulation based
on the evidence we have obtained, and to issue a report
that includes our opinion. The nature, timing and extent
of procedures selected depend on the auditor’s judge-
ment, including the assessment of the risks of material
departures from the requirements set out in the ESEF
Regulation, whether due to fraud or error. The proce-
dures include:
• Testing whether the annual report is prepared in
XHTML format;
• Obtaining an understanding of the company’s
iXBRL tagging process and of internal control over
the tagging process;
• Evaluating the completeness of the iXBRL tagging
of the Consolidated Financial Statements including
notes;
• Evaluating the appropriateness of the company’s
use of iXBRL elements selected from the ESEF tax-
onomy and the creation of extension elements
where no suitable element in the ESEF taxonomy
has been identified;
• Evaluating the use of anchoring of extension ele-
ments to elements in the ESEF taxonomy; and
• Reconciling the iXBRL tagged data with the au-
dited Consolidated Financial Statements.
In our opinion, the annual report for the financial year
January 1 – December 31, 202 4 with the file name bet-
tercollective-2024-12-31-en.zip is prepared, in all mate-
rial respects, in compliance with the ESEF Regulation.
Copenhagen, March 25, 2025
EY Godkendt Revisionspartnerselskab
CVR no. 30 70 02 28
Mikkel Sthyr
State Authorised
Public Accountant
MNE no. 26693
Kennet Hartmann
State Authorised
Public Accountant
MNE no. 40036
===== SIDA 113 =====
Annual report Page 113
Independent Auditors’
limited assurance
report on
Sustainability
Statements
To the shareholders of Better
Collective A/S
Limited assurance conclusion
We have conducted a limited assurance engagement on
the Sustainability Statements of Better Collective A/S
(the Group) included in the Annual Report 2024, pages
42-106 (the Sustainability Statements) for the financial
year 1 January – 31 December 2024 including disclosures
incorporated by reference listed in the table ‘Disclosure
requirements and incorporation by reference’ on pages
44 and 102-106.
Based on the procedures we have performed and the
evidence we have obtained, nothing has come to our at-
tention that causes us to believe that the Sustainability
Statements is not prepared, in all material respects, in
accordance with the Danish Financial Statements Act
section 99 a, including:
• Compliance with the European Sustainability Re-
porting Standards (ESRS), including that the
process carried out by the management to identify
the information reported in the Sustainability
Statements (the process) is in accordance with the
description set out in the chapter ‘Double material-
ity assessment’ within the ‘General disclosures’ sec-
tion on pages 53-54; and
• Compliance of the disclosures in the chapter EU
Taxonomy within the ‘Environment’ section on
pages 91-95 of the Sustainability Statements with
Article 8 of EU Regula tion 2020/852 (the Taxon-
omy Regulation).
Basis for opinion
We conducted our limited assurance engagement in ac-
cordance with International Standard on Assurance En-
gagements (ISAE) 3000 (Revised),
Assurance engage-
ments other than audits or reviews of historical financial
information (ISAE 3000 (Revised)) and the additional
requirements applicable in Denmark.
The procedures in a limited assurance engagement vary
in nature and timing from, and are less in extent than for,
a reasonable assurance engagement. Consequently, the
level of assurance obtained in a limited assurance en-
gagement is substantially lower than the assurance that
would have been obtained had a reasonable assurance
engagement been performed.
We believe that the evidence we have obtained is suffi-
cient and appropriate to provide a basis for our conclu-
sion. Our responsibilities under this standard are further
described in the
Auditor's responsibilities for the assur-
ance engagement section of our report.
Our independence and quality management
We are independent of the group in accordance with the
International Ethics Standards Board for Accountants '
International Code of Ethics for Professional Account-
ants (IESBA Code) and the additional ethical require-
ments applicable in Denmark. We have also fulfilled our
other ethical responsibilities in accordance with these
requirements and the IESBA Code.
EY Godkendt Revisionspartnerselskab applies Interna-
tional Standard on Quality Management 1, which re-
quires the firm to design, implement and operate a sys-
tem of quality management including policies or proce-
dures regarding compliance with ethical requireme nts,
professional standards and applicable legal and regula-
tory requirements.
Inherent limitations in preparing the Sustainability
Statements
In reporting forward-looking information in accordance
with ESRS, management is required to prepare the for-
ward-looking information on the basis of disclosed as-
sumptions about events that may occur in the future and
possible future actions by the group. Actual outcomes
are likely to be different since anticipated events fre-
quently do not occur as expected.
Management's responsibilities for the Sustainability
Statements
Management is responsible for designing and imple-
menting a process to identify the information reported
in the Sustainability Statements in accordance with the
ESRS and for disclosing this process in the chapter ‘Dou-
ble materiality assessment’ within the ‘General disclo-
sures’ section on pages 52-54 of the Sustainability
Statements. This responsibility includes:
• Understanding the context in which the group's ac-
tivities and business relationships take place and
developing an understanding of its affected stake-
holders;
• The identification of the actual and potential im-
pacts (both negative and positive) related to sus-
tainability matters, as well as risks and opportuni-
ties that affect, or could reasonably be expected to
affect, the group's financial position, financial per-
formance, cash flows, access to finance or cost of
capital over the short-, medium-, or long-term;
• The assessment of the materiality of the identified
impacts, risks and opportunities related to sustain-
ability matters by selecting and applying appropri-
ate thresholds; and
• Making assumptions that are reasonable in the cir-
cumstances.
===== SIDA 114 =====
Annual report Page 114
Management is further responsible for the preparation
of the Sustainability Statements, in accordance with the
Danish Financial Statements Act section 99a, including:
• Compliance with the ESRS;
• Preparing the disclosures in the chapter EU Taxon-
omy within the ‘Environment’ section on pages 91-
95 of the Sustainability Statements, in compliance
with Article 8 of the Taxonomy Regulation;
• Designing, implementing and maintaining such in-
ternal control that management determines is nec-
essary to enable the preparation of the Sustainabil-
ity Statements that is free from material misstate-
ment, whether due to fraud or error; and
The selection and application of appropriate sustainabil-
ity reporting methods and making assumptions and es-
timates that are reasonable in the circumstances.
Auditor's responsibilities for the assurance engage-
ment
Our objectives are to plan and perform the assurance
engagement to obtain limited assurance about whether
the Sustainability Statements is free from material mis-
statement, whether due to fraud or error, and to issue a
limited assurance report that includes our conclusion.
Misstatements can arise from fraud or error and are con-
sidered material if, individually or in the aggregate, they
could reasonably be expected to influence decisions of
users taken on the basis of the Sustainability Statements
as a whole.
As part of a limited assurance engagement in accord-
ance with ISAE 3000 (Revised) , we exercise profes-
sional judgment and maintain professional skepticism
throughout the engagement.
Our responsibilities in respect of the process include:
• Obtaining an understanding of the process but not
for the purpose of providing a conclusion on the ef-
fectiveness of the process, including the outcome
of the process;
• Considering whether the information identified ad-
dresses the applicable disclosure requirements of
the ESRS, and
• Designing and performing procedures to evaluate
whether the process is consistent with the group's
description of its process, as disclosed in the chap-
ter ‘Double materiality assessment’ within the ‘Gen-
eral disclosures’ section on pages 52-54.
Our other responsibilities in respect of the Sustainability
Statements include:
• Identifying disclosures where material misstate-
ments are likely to arise, whether due to fraud or
error; and
• Designing and performing procedures responsive
to disclosures in the Sustainability Statements
where material misstatements are likely to arise.
The risk of not detecting a material misstatement
resulting from fraud is higher than for one resulting
from error, as fraud may involve collusion, forgery,
intentional omissions, misrepresentations, or the
override of internal control.
Summary of the work performed
A limited assurance engagement involves performing
procedures to obtain evidence about the Sustainability
Statements.
The nature, timing and extent of procedures selected
depend on professional judgement, including the identi-
fication of disclosures where material misstatements are
likely to arise, whether due to fraud or error, in the Sus-
tainability Statements.
In conducting our limited assurance engagement, with
respect to the process, we:
• Obtained an understanding of the process by per-
forming inquiries to understand the sources of the
information used by management; and reviewing
the group's internal documentation of its process;
and
• Evaluated whether the evidence obtained from our
procedures about the Process implemented by the
group's was consistent with the description of the
Process set out in the chapter ‘Double materiality
assessment’ within the ‘General disclosures’ section
on pages 52-54.
In conducting our limited assurance engagement, with
respect to the Sustainability Statements, we:
• Obtained an understanding of the group's report-
ing processes relevant to the preparation of its Sus-
tainability Statements by obtaining an understand-
ing of the group's control environment, processes
and information systems relevant to the prepara-
tion of the Sustainability Statements but not evalu-
ating the design of particular control activities, ob-
taining evidence about their implementation or
testing their operating effectiveness;
• Evaluated whether material information identified
by the process is included in the Sustainability
Statements;
• Evaluated whether the structure and the presenta-
tion of the Sustainability Statements are in accord-
ance with the ESRS;
• Performed inquiries of relevant personnel and ana-
lytical procedures on selected information in the
Sustainability Statements;
• Performed substantive assurance procedures on
selected information in the Sustainability State-
ments;
• Evaluated methods, assumptions and data for de-
veloping material estimates and forward -looking
information and how these methods were applied;
===== SIDA 115 =====
Annual report Page 115
• Obtained an understanding of the process to iden-
tify EU taxonomy eligible and aligned economic ac-
tivities for turnover, CAPEX and OPEX and the cor-
responding disclosures in the Sustainability State-
ments;
• Evaluated compliance processes, methods, and
data for covered activities, assessed minimum safe-
guards compliance through personnel inquiries,
and conducted analytical procedures on EU taxon-
omy aligned disclosures
• Evaluated the presentation and use of EU taxon-
omy templates in accordance with relevant re-
quirements; and
• Reconciled and ensured consistency between the
reported EU taxonomy economic activities and the
items reported in the primary financial statements
including the disclosures provided in related notes.
Copenhagen, March 25, 2025
EY Godkendt Revisionspartnerselskab
CVR no. 30 70 02 28
Mikkel Sthyr
State Authorised
Public Accountant
MNE no. 26693
Lars Fermann
State Authorised
Public Accountant
MNE no. 45879
===== SIDA 116 =====
Annual report Page 116
Statement of profit and loss 117
Statement of comprehensive income 117
Balance sheet 118
Statement of changes in equity 119
Cash flow statement 120
Notes 122
Annual report Page 116
Financial
Statements
===== SIDA 117 =====
Annual report Page 117
Consolidated statement
of profit and loss
Note tEUR 2024 2023
3, 4 Revenue 371,487 326,686
Direct costs related to revenue 107,167 99,296
5, 6 Staff costs 113,000 88,921
7 Other external expenses 37,917 27,389
Operating profit before depreciation and amortization (EBITDA) and special items 113,403 111,080
14 Depreciation 6,990 3,958
Operating profit before amortization (EBITA) and special items 106,413 107,122
12 Amortization and impairment 34,080 24,283
Operating profit (EBIT) before special items 72,334 82,839
8 Special items, net - 10,886 - 1,948
Operating profit 61,447 80,891
9 Financial income 7,310 5,987
10 Financial expenses 25,893 28,868
Profit before tax 42,865 58,010
11 Tax on profit for the period 8,850 18,175
Profit for the period 34,014 39,835
Earnings per share attributable to equity holders of the company
Average number of shares 61,876,816 55,186,772
Average number of warrants - converted to number of shares 2,339,557 2,658,571
Earnings per share (in EUR) 0.55 0.74
Diluted earnings per share (in EUR) 0.53 0.70
Consolidated statement
of comprehensive income
Note tEUR 2024 2023
Profit for the period 34,014 39,835
Other comprehensive income
Other comprehensive income that may be reclassified to profit or loss in subsequent pe-
riods:
Fair value adjustment of hedges for the year - 180 - 483
Currency translation to presentation currency 6,297 1,318
Currency translation of non-current intercompany loans 17,325 - 9,440
11 Income tax - 1,589 0
Net other comprehensive income/loss 21,853 - 8,605
Total comprehensive income/(loss) for the period, net of tax 55,867 31,230
Attributable to:
Shareholders of the parent 55,867 31,230
===== SIDA 118 =====
Annual report Page 118
Consolidated balance sheet
Note tEUR 2024 2023
Assets
Non-current assets
12, 13 Intangible assets
Goodwill 360,988 255,074
Domains and websites 553,886 466,615
Accounts and other intangible assets 117,628 79,740
Total intangible assets 1,032,501 801,429
14 Tangible assets
Right of use assets 15,929 15,575
Leasehold improvements, Fixtures and fittings, other plant and equipment 6,704 6,006
Total tangible assets 22,633 21,582
Other non-current assets
Deposits 1,940 1,803
11 Deferred tax asset 4,573 7,236
Total other non-current assets 6,513 9,039
Total non-current assets 1,061,647 832,050
Current assets
15 Trade and other receivables 63,763 48,954
11 Corporation tax receivable 2,934 2,252
Prepayments 6,101 4,250
19 Other current financial assets 0 6,804
19 Cash 37,674 43,552
Total current assets 110,472 105,812
Total assets 1,172,119 937,862
Note tEUR 2024 2023
Equity and liabilities
16 Equity
Share Capital 631 554
Share Premium 469,460 274,580
Reserves 16,089 - 6,486
Retained Earnings 199,749 166,624
Total equity 685,929 435,273
Non-current Liabilities
19 Debt to credit institutions 259,691 248,657
18 Lease liabilities 12,560 13,326
11 Deferred tax liabilities 98,673 84,670
19 Other long-term financial liabilities 42,030 52,443
Total non-current liabilities 412,955 399,096
Current Liabilities
Prepayments received from customers and deferred revenue 10,275 4,262
17 Trade and other payables 26,894 27,838
11 Corporation tax payable 4,764 6,754
19 Other financial liabilities 26,926 61,938
18 Lease liabilities 4,376 2,702
Total current liabilities 73,235 103,493
Total liabilities 486,190 502,589
Total Equity and liabilities 1,172,119 937,862
===== SIDA 119 =====
Annual report Page 119
Consolidated statement of changes in equity
tEUR
Share
capital
Share
premium
Currency
translation
reserve
Hedging
reserves
Treasury
shares
Retained
earnings
Total
equity
As at January 1, 2024 554 274,580 15,055 - 483 - 21,057 166,624 435,273
Result for the period 0 0 0 0 0 34,014 34,014
Fair value adjustment of
hedges 0 0 0 - 180 0 0 - 180
Foreign currency translation 0 0 23,622 0 0 0 23,622
Tax on other
comprehensive income 0 0 - 1,735 146 0 0 - 1,589
Total other
comprehensive income 0 0 21,887 - 34 0 0 21,853
Total comprehensive
income for the year 0 0 21,887 - 34 0 34,014 55,867
Transactions with owners
Capital Increase 77 194,880 0 0 0 - 1,758 193,199
Acquisition of treasury shares 0 0 0 0 - 22,533 0 - 22,533
Disposal of treasury shares 0 0 0 0 23,254 9,017 32,271
Share based payments 0 0 0 0 0 - 5,131 - 5,131
Transaction cost 0 0 0 0 0 - 3,018 - 3,018
Total transactions with owners 77 194,880 0 0 721 - 890 194,788
At December 31, 2024 631 469,460 36,941 - 517 - 20,336 199,749 685,929
During the period no dividend was paid.
tEUR
Share
capital
Share
premium
Currency
translation
reserve
Hedging
reserves
Treasury
shares
Retained
earnings
Total
equity
As at January 1, 2023 551 272,550 23,177 0 - 7,669 124,307 412,917
Result for the period 0 0 0 0 0 39,835 39,835
Fair value adjustment of
hedges 0 0 0 - 483 0 0 - 483
Foreign currency translation 0 0 - 8,122 0 0 0 - 8,122
Tax on other
comprehensive income 0 0 0 0 0 0 0
Total other
comprehensive income 0 0 - 8,122 - 483 0 0 - 8,605
Total comprehensive
income for the year 0 0 - 8,122 - 483 0 39,835 31,230
Transactions with owners
Capital Increase 3 2,030 0 0 0 0 2,033
Acquisition of treasury shares 0 0 0 0 - 13,375 0 - 13,375
Disposal of treasury shares 0 0 0 0 0 0 0
Share based payments 0 0 0 0 0 2,495 2,495
Transaction cost 0 0 0 0 - 13 - 12 - 26
Total transactions with owners 3 2,030 0 0 - 13,389 2,482 - 8,874
At December 31, 2023 554 274,580 15,055 - 483 - 21,057 166,624 435,273
During the period no dividend was paid.
===== SIDA 120 =====
Annual report Page 120
Consolidated statement of cash flow
Note tEUR 2024 2023
Profit before tax 42,865 58,010
Adjustment for finance items 18,583 22,882
Adjustment for special items 10,886 1,947
Operating Profit for the period before special items 72,334 82,839
Depreciation and amortization 41,070 28,241
Other adjustments of non-cash operating items 1,244 2,581
Cash flow from operations
before changes in working capital and special items 114,647 113,661
20 Change in working capital - 13,638 5,722
Cash flow from operations before special items 101,009 119,384
Special items, cash flow - 18,390 - 4,744
Cash flow from operations 82,619 114,639
Financial income, received 3,111 493
Financial expenses, paid - 19,501 - 10,712
Cash flow from activities before tax 66,228 104,420
Income tax paid - 16,731 - 15,411
Cash flow from operating activities 49,497 89,009
21 Acquisition of businesses - 120,451 - 57,282
Acquisition of intangible assets - 33,532 - 27,469
Acquisition of tangible assets - 3,942 - 5,143
Sale of tangible assets 0 3
Acquisition of other financial assets 0 - 14,930
Sale of other financial assets 3,232 0
Change in other non-current assets - 136 - 1,427
Cash flow from investing activities - 154,829 - 106,248
Note tEUR 2024 2023
19 Repayment of borrowings - 136,321 - 1,486
19 Proceeds from borrowings 124,196 45,490
19 Lease liabilities - 4,384 - 2,814
19 Other non-current liabilities - 434 - 483
Capital increase 146,362 2,033
Treasury shares - 20,336 - 13,381
Transaction cost - 3,018 - 26
Warrant settlement, sale of warrants - 6,911 0
Cash flow from financing activities 99,154 29,334
Cash flows for the period - 5,624 12,095
Cash and cash equivalents at beginning 43,552 31,497
Foreign currency translation of cash and cash equivalents - 254 - 41
Cash and cash equivalents period end 37,674 43,552
Cash and cash equivalents period end
Cash 37,674 43,552
Cash and cash equivalents period end 37,674 43,552
===== SIDA 121 =====
Annual report Page 121
Cashflow statement – specifications
Note tEUR 2024 2023
Acquisition of business combinations:
21
Net Cash outflow
from business combinations at acquisition - 70,318 - 57,282
Business Combinations
deferred payments from current period 0 0
Deferred payments
- business combinations from prior periods - 50,133 0
Total cash flow from business combinations - 120,451 - 57,282
Acquisition of intangible assets:
Acquisitions through asset transactions - 5,806 - 50,639
Deferred payments related to acquisition value 0 - 494
Deferred payments
- acquisitions from prior periods - 8,500 - 9,745
Intangible assets with no cash flow effect 0 33,613
Other investments - 19,226 - 203
Total cash flow from intangible assets - 33,532 - 27,469
Note tEUR 2024 2023
Equity movements with cashflow impact
- from cash flow statement:
Capital increase 146,362 2,033
Treasury shares - 20,336 - 13,381
Transaction cost - 3,018 - 26
Warrant settlement, sale of warrants - 6,911 0
Total equity movements with cash flow impact 116,097 - 11,374
Non-cash flow movements on equity:
New shares for M&A payments 46,837 0
Treasury Shares used for payments 30,075 0
Share based payments
- warrant expenses with no cash flow effect 1,780 2,495
Total equity movements with no cash flow impact 78,692 2,495
Total Transactions with owners
- Consolidated statement of changes in equity 194,788 - 8,879
===== SIDA 122 =====
Annual report Page 122
1. Accounting policies 123
2. Significant accounting judgements, estimates and assumptions 125
3. Segment information 127
4. Revenue specification 128
5. Staff and other costs 129
6. Share-based payment plans 131
7. Fees paid to auditors appointed at the annual general meeting 133
8. Special items 134
9. Finance income 135
10. Finance costs 135
11. Income tax 136
12. Intangible assets 138
13. Goodwill and intangible assets with indefinite life 140
14. Tangible assets 143
15. Trade and other receivables 144
16. Issued capital and reserves 145
17. Trade and other payables 146
18. Leasing 146
19. Financial risk management objectives and policies 148
20. Change in working capital 152
21. Business combinations 152
22. Related party disclosures 155
23. Group information –subsidiary information 156
24. Other contingent liabilities 157
25. Events after the reporting date 157
Notes to the consolidated
financial statements
===== SIDA 123 =====