5299008W2A69WX355710 2024-10-01 2025-09-30 5299008W2A69WX355710 2023-10-01 2024-09-30 5299008W2A69WX355710 2024-09-30 5299008W2A69WX355710 2025-09-30 5299008W2A69WX355710 2023-09-30 5299008W2A69WX355710 2024-09-30 5299008W2A69WX355710 2024-09-30 ifrs-full:IssuedCapitalMember 5299008W2A69WX355710 2024-09-30 ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember 5299008W2A69WX355710 2024-09-30 ifrs-full:RetainedEarningsMember 5299008W2A69WX355710 2024-10-01 2025-09-30 ifrs-full:IssuedCapitalMember 5299008W2A69WX355710 2024-10-01 2025-09-30 ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember 5299008W2A69WX355710 2024-10-01 2025-09-30 ifrs-full:RetainedEarningsMember 5299008W2A69WX355710 2025-09-30 ifrs-full:RetainedEarningsMember 5299008W2A69WX355710 2025-09-30 ifrs-full:IssuedCapitalMember 5299008W2A69WX355710 2025-09-30 ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember 5299008W2A69WX355710 2023-09-30 ifrs-full:IssuedCapitalMember 5299008W2A69WX355710 2023-09-30 ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember 5299008W2A69WX355710 2023-09-30 ifrs-full:RetainedEarningsMember 5299008W2A69WX355710 2023-10-01 2024-09-30 ifrs-full:IssuedCapitalMember 5299008W2A69WX355710 2023-10-01 2024-09-30 ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember 5299008W2A69WX355710 2023-10-01 2024-09-30 ifrs-full:RetainedEarningsMember 5299008W2A69WX355710 2024-09-30 ifrs-full:RetainedEarningsMember 5299008W2A69WX355710 2024-09-30 ifrs-full:IssuedCapitalMember 5299008W2A69WX355710 2024-09-30 ifrs-full:ReserveOfExchangeDifferencesOnTranslationMember iso4217:DKK iso4217:DKK xbrli:shares 6037000000 2404000000 3633000000 5391000000 2190000000 3201000000 609000000 235000000 1792000000 347000000 710000000 1571000000 325000000 660000000 645000000 -109000000 -66000000 -109000000 -66000000 784000000 500000000 169000000 0 334000000 784000000 311000000 15000000 44000000 755000000 16000000 27000000 300000000 146000000 65000000 609000000 235000000 2.29 2.28 0.88 0.88 254000000 609000000 235000000 459000000 615000000 -3000000 866000000 157000000 -1000000 615000000 146000000 -29000000 372000000 31000000 273000000 -9000000 15000000 65000000 -11000000 696000000 26000000 111000000 -3000000 14000000 195000000 671000000 866000000 265000000 350000000 615000000 28000000 101000000 791000000 30000000 90000000 813000000 267000000 117000000 -384000000 201000000 88000000 -289000000 407000000 524000000 63000000 11000000 102000000 1000000 65000000 0 0 0 -153000000 -65000000 1497000000 339000000 994000000 100000000 319000000 1527000000 376000000 905000000 72000000 350000000 135000000 5900000000 6035000000 135000000 5459000000 5594000000 11000000 3000000 5000000 462000000 481000000 4000000 14000000 0 483000000 501000000 3249000000 3230000000 588000000 544000000 137000000 582000000 545000000 160000000 3000000 80000000 572000000 56000000 448000000 1159000000 6000000 75000000 490000000 49000000 439000000 1059000000 4518000000 4517000000 1272000000 834000000 40000000 33000000 112000000 0 1078000000 745000000 44000000 40000000 112000000 3000000 1640000000 7675000000 1560000000 7154000000 866000000 3157000000 615000000 2637000000 7675000000 7154000000 <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.022em;top:14.2095em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.022em;top:14.967em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0389em;">Reserve for foreign currency translation adjustments in the consol-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.022em;top:15.717em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0383em;">idated financial statements comprised exchange rate differences  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.022em;top:16.467em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0373em;">arising from the translation of the financial statements of foreign  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.022em;top:17.217em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">subsidiaries to DKK, as well as foreign currency translation adjust-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.022em;top:17.967em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0345em;">ments of intercompany balances, regarded as a supplement to the net  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.022em;top:18.717em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">investment in foreign subsidiaries.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2256em;"><span class="stl_418 stl_11 stl_145" style="word-spacing:-0.0272em;">1.1 Basis of preparation and significant accounting estimates and judgments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5387em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">The Group’s general accounting policies are described below. In connection with this, specific accounting  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2887em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0353em;">policies have been incorporated into each of the individual notes to the consolidated financial statements.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.7887em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">The consolidated financial statements are presented in accordance with IFRS accounting standards as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.5387em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0347em;">adopted by the EU and additional disclosure requirements in the Danish Financial Statements Act.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.0387em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">The financial statements of the parent company, Ambu A/S, are presented separately from the consolidated  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.7887em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">financial statements and can be found on the last pages of this report. The parent company’s separate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.5387em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0339em;">accounting policies are shown in conjunction with the financial statements of the parent company.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.0387em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">The accounting policies described below have been applied consistently in the preparation of the consoli-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.7887em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0355em;">dated financial statements in the years presented. The accounting policies have been applied consistently  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.5387em;"><span class="stl_287 stl_08 stl_176" style="word-spacing:-0.0256em;">with prior year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.0312em;"><span class="stl_288 stl_11 stl_540" style="word-spacing:-0.0416em;">Basis of measurement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.7887em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0365em;">The consolidated financial statements are presented in Danish kroner (DKK), which is also Ambu A/S’ func-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.5387em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">tional currency. All amounts are rounded to the nearest million, unless otherwise stated. The Annual Report  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.2887em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0363em;">has been prepared in accordance with the historical cost principle, except for derivative financial instruments,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.0387em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0353em;">which are measured at fair value through profit and loss.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.5312em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0426em;">Applying materiality  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.2887em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.0379em;">The consolidated financial statements are a result of processing large numbers of transactions and aggre-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.0387em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0377em;">gating those transactions into classes according to their nature or function. The transactions are presented  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.7887em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0357em;">in classes of similar items in the consolidated financial statements. If a line item is not individually mate-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.5387em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">rial, it is aggregated with other items of a similar nature in the consolidated financial statements or in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:29.2887em;"><span class="stl_287 stl_08 stl_360">notes.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:30.7887em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">Management provides specific disclosure required by IFRS, unless the information is not applicable or con-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:31.5387em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">sidered immaterial to the economic decision-making of the users of these consolidated financial statements.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:33.0312em;"><span class="stl_288 stl_11 stl_31" style="word-spacing:-0.042em;">Significant accounting estimates and judgments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:33.7887em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">The preparation of the Group’s consolidated financial statements requires Management to make judgments,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:34.5387em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0396em;">estimates, and assumptions that affect the reported amounts of assets, liabilities, income, and expenses,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:35.2887em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0325em;">and the accompanying disclosures, including contingent liabilities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.5387em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0365em;">Management bases its estimates on historical experience and various other assumptions that are believed to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:11.2887em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">be reasonable under the circumstances. The results hereof form the basis for making judgments about the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0387em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0401em;">reported carrying amounts of assets and liabilities, and the reported amounts of income and expenses that  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.7887em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">may not be readily apparent from other sources. Uncertainty about these assumptions and estimates could  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:13.5387em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">result in outcomes that require a material adjustment to the carrying amount of assets or liabilities in future  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.2887em;"><span class="stl_287 stl_08 stl_375">periods.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.7887em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">The estimates and underlying assumptions are reviewed on an ongoing basis. Changes in estimates may be  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:16.5387em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.0371em;">necessary if there are changes in the circumstances on which an estimate was based, or more detailed infor-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:17.2887em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.034em;">mation becomes available. Such changes are recognized in the period in which the estimate is revised.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:18.0387em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">Management has made significant accounting estimates and judgements in respect of the following areas:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.0591em;top:20.5418em;"><span class="stl_288 stl_11 stl_400" style="word-spacing:-0.0395em;">Key accounting estimates and judgments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.0116em;top:20.5418em;"><span class="stl_288 stl_11 stl_342">Note  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.6097em;top:20.5418em;"><span class="stl_288 stl_11 stl_471" style="word-spacing:-0.0431em;">Estimate / judgment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6409em;top:20.5418em;"><span class="stl_288 stl_11 stl_522">Impact  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.0584em;top:22.1005em;"><span class="stl_287 stl_08 stl_87" style="word-spacing:-0.0357em;">Measurement of unsettled price adjustments in U.S., revenue</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.005em;top:22.1005em;"><span class="stl_287 stl_08 stl_45">2.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.6091em;top:22.1005em;"><span class="stl_287 stl_08 stl_394">Estimate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6403em;top:22.1972em;"><span class="stl_889 stl_890 stl_40"></span><span class="stl_891 stl_890 stl_40">  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.0578em;top:23.0311em;z-index:3598;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">Impairment test, goodwill</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.005em;top:23.0311em;z-index:3598;"><span class="stl_287 stl_08 stl_758">3.1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.6084em;top:23.0311em;"><span class="stl_287 stl_08 stl_155">Judgment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6397em;top:23.1278em;"><span class="stl_889 stl_890 stl_40"></span><span class="stl_891 stl_890 stl_40">  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.0572em;top:23.9618em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0345em;">Impairment test, acquired technologies and development</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.004em;top:23.9618em;"><span class="stl_287 stl_08 stl_31">3.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.6078em;top:23.9618em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">Estimate and judgment</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.632em;top:23.9618em;"><span class="stl_889 stl_890 stl_40">  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.0572em;top:24.7118em;"><span class="stl_287 stl_08 stl_641">projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.0591em;top:26.1267em;"><span class="stl_391 stl_08 stl_415" style="word-spacing:-0.0503em;">Level of potential impact on the consolidated financial statements: Medium </span><span class="stl_892 stl_890 stl_290" style="word-spacing:-0.0179em;"> </span><span class="stl_391 stl_08 stl_95" style="word-spacing:-0.0487em;">High </span><span class="stl_892 stl_890 stl_290">  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.5807em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">A further description of the principal accounting estimates and judgments is provided in the relevant notes.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:29.0732em;"><span class="stl_288 stl_11 stl_207" style="word-spacing:-0.0411em;">Climate risk  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:29.8307em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">The Group is exposed to risks associated with climate change. In preparing the consolidated financial state-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:30.5807em;"><span class="stl_287 stl_08 stl_45" style="word-spacing:-0.033em;">ments for 2024/25, Management has considered the impact of climate change. While sustainability is an  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:31.3307em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.0379em;">embedded part of the business, Management does not consider sustainability targets or climate change to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:32.0807em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0367em;">have a significant impact on the accounting estimates and judgments, consistent with the assessment that  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:32.8307em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0371em;">climate change is not expected to have a significant impact on the Group’s future cash flows, the carrying  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:33.5807em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0369em;">amount of non-current assets, or going concern assessment, given the geographical location of the Group's  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:34.3307em;"><span class="stl_287 stl_08 stl_47" style="word-spacing:-0.0401em;">tangible assets, and the sector, and markets in which it conducts its business.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:35.8307em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">Reference is made to the Sustainability Statement section for EU Taxonomy disclosures on eligible activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:36.5763em;"><span class="stl_440 stl_92 stl_146" style="word-spacing:-0.032em;">pp. 6</span><span class="stl_440 stl_92 stl_143" style="word-spacing:-0.0275em;">5-66 and pp. 79-81</span><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.0381em;">, which complement the assessment of climate-related risks in the financial state-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:37.3307em;"><span class="stl_287 stl_08 stl_403">ment.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2258em;"><span class="stl_418 stl_11 stl_145" style="word-spacing:-0.0272em;">1.2 Changes in accounting policies and disclosures  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.4899em;"><span class="stl_288 stl_11 stl_361" style="word-spacing:-0.037em;">Adoption of new or amended IFRS'  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2474em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0349em;">Management has assessed that new or amended IFRS Accounting Standards and interpretations issued by  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.9974em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0365em;">the IASB and endorsed by the EU effective for the 2024/25 financial year have not had a significant effect on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.7474em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.0379em;">the consolidated financial statements.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.2399em;"><span class="stl_288 stl_11 stl_245" style="word-spacing:-0.0401em;">Standards not yet adopted  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.9974em;"><span class="stl_287 stl_08 stl_169" style="word-spacing:-0.0334em;">New or amended IFRS Accounting Standards and interpretations issued by the IASB that have not yet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.7474em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0384em;">become effective are generally not adopted until they become effective and are endorsed by the EU.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.2474em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">The new standards that are not yet effective are not expected to have any material impact on the Group,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.9974em;"><span class="stl_287 stl_08 stl_79" style="word-spacing:-0.0315em;">except for IFRS 18 Presentation and Disclosure in Financial Statements, which was issued in April 2024 and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.7474em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0341em;">will be effective from our financial year 2027/28, impacting presentation and disclosure of the financial state-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.4974em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">ments. Ambu is currently evaluating the potential impact of this standard.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4491em;top:9.2258em;"><span class="stl_418 stl_11 stl_176" style="word-spacing:-0.0255em;">1.3 General accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:10.4899em;"><span class="stl_288 stl_11 stl_298" style="word-spacing:-0.0375em;">Principles of consolidation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.2474em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">The consolidated financial statements comprise Ambu A/S and companies in which Ambu A/S has a con-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.9974em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">trolling interest. Control is deemed to be obtained if Ambu A/S owns more than 50% of the voting rights, or if  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:12.7474em;"><span class="stl_287 stl_08 stl_146" style="word-spacing:-0.0321em;">Ambu A/S in any other way has a controlling interest in the company.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.2474em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">The subsidiaries’ financial statements are adjusted, if necessary, to ensure that their accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.9974em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">are consistent with those of the rest of the Group. All intercompany transactions, balances, income, and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:15.7474em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0339em;">expenses are fully eliminated on consolidation except for currency translations of intercompany balances,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:16.4974em;"><span class="stl_287 stl_08 stl_169" style="word-spacing:-0.0334em;">which are recognized as financial items.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:17.9899em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0426em;">Foreign currency translation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:18.7474em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">A functional currency is determined for each company in the Ambu Group. The functional currency is the cur-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:19.4974em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0372em;">rency used in the primary economic environment in which the individual subsidiary operates.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.9974em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0353em;">Transactions in foreign currencies are translated to the functional currency using the exchange rate applica-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:21.7474em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0371em;">ble at the transaction date. Foreign exchange gains and losses in connection with the settlement of these  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:22.4974em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">transactions and the translation of monetary assets and liabilities in foreign currencies at the exchange rates  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:23.2474em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0336em;">applicable at the balance sheet date are recognized in the income statement under net financials.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:24.7474em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0359em;">Receivables, payables, and other monetary items denominated in foreign currencies are translated to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:25.4974em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0371em;">functional currency at the exchange rate applicable at the balance sheet date. The difference between the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.2474em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0327em;">exchange rate applicable at the balance sheet date and the exchange rate applicable at the date on which the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.9974em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">receivable or payable occurred or the exchange rate stated in the most recent Annual Report is recognized in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:27.7474em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0359em;">the income statement under net financials.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:29.2474em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0379em;">The financial statements of subsidiaries with a functional currency other than Danish kroner (DKK) are trans-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:29.9974em;"><span class="stl_287 stl_08 stl_160" style="word-spacing:-0.0318em;">lated to DKK at the exchange rates for balance sheet items applicable at the balance sheet date and at aver-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:30.7474em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.0369em;">age exchange rates as far as income statement items are concerned. Exchange rate differences arising from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:31.4974em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">the translation of the net assets of such subsidiaries at the beginning of the year using the exchange rates  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:32.2474em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">applicable at the balance sheet date and the translation of income statement items from the exchange rates  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:32.9974em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0341em;">applicable at the transaction date to the exchange rates applicable at the balance sheet date are recognized  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:33.7474em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0359em;">in other comprehensive income and presented as a separate reserve for foreign currency translation adjust-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:34.4974em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0371em;">ments under equity.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.4899em;"><span class="stl_288 stl_11 stl_31" style="word-spacing:-0.0419em;">Presentation of income statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.243em;"><span class="stl_438 stl_92 stl_431" style="word-spacing:-0.0431em;">Income statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.9974em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0345em;">Income and expenses are recognized according to the accruals concept. The income statement is presented  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.7474em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0401em;">by functions where the respective cost impacts the function to which the cost is deemed to relate. The  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.4974em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0341em;">Group’s functions are divided into production, sales and distribution, development, and management and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.2474em;"><span class="stl_287 stl_08 stl_97" style="word-spacing:-0.0421em;">administrative costs.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.743em;"><span class="stl_438 stl_92 stl_426" style="word-spacing:-0.0477em;">Production costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.4974em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">Production costs comprise costs incurred in generating the revenue for the year. Production costs include  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.2474em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0383em;">direct and indirect costs for raw materials and consumables, freight costs incurred in connection with the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.9974em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0401em;">purchase of commodities, etc., production wages and salaries for support functions, and factory manage-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.7474em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0337em;">ment, as well as depreciation and impairment of plant and depreciation of leases.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.243em;"><span class="stl_438 stl_92 stl_528" style="word-spacing:-0.0443em;">Selling and distribution costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.9974em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">Selling and distribution costs comprise costs for sales staff, advertising and exhibitions, depreciation, impair-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.7474em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">ment, and operation of central warehouses, as well as all costs relating to the transport of goods from the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.4974em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">Group’s factories to the customers.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.993em;"><span class="stl_438 stl_92 stl_309" style="word-spacing:-0.041em;">Research and development costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.7474em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">Research and development costs comprise salaries and costs which, directly or indirectly, can be attributed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.4974em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0372em;">to product improvements and the development of new products which do not meet the criteria for capitaliza-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.2474em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0363em;">tion of an internally generated development project. In addition, the amortization and impairment of capital-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.9974em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">ised development costs and rights and acquired technologies are recognized.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.493em;"><span class="stl_438 stl_92 stl_347" style="word-spacing:-0.0434em;">Management and administrative costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:29.2474em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0367em;">Administrative costs comprise expenses incurred for management and administration, including expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:29.9974em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">for the administrative staff, office premises, office expenses, and IT, as well as amortization and impairment,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:30.7474em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">and depreciation of leases.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:32.2399em;"><span class="stl_288 stl_11 stl_245" style="word-spacing:-0.0403em;">Presentation of balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:32.993em;"><span class="stl_438 stl_92 stl_69" style="word-spacing:-0.0463em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:33.7474em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0376em;">Cash and cash equivalents comprise cash in bank, alternating between positive and negative balances, and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:34.4974em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0413em;">short-term deposits with a maturity of less than three months.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:35.993em;"><span class="stl_438 stl_92 stl_409">Prepayments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:36.7474em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0365em;">Prepayments comprise various payments mainly related to IT licences, utilities, and insurance. Amortization  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:37.4974em;"><span class="stl_287 stl_08 stl_45" style="word-spacing:-0.033em;">of prepayments are recognized in the income statement over the period of time the prepayments cover.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:10.4899em;"><span class="stl_288 stl_11 stl_333" style="word-spacing:-0.047em;">Cash flow statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.2474em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">The cash flow statement has been prepared on the basis of the indirect method and shows the Group’s cash  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.9974em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">flows from operating, investing, and financing activities for the year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:13.4974em;"><span class="stl_287 stl_08 stl_294" style="word-spacing:-0.0407em;">Cash flows from operating activities are presented as the net profit adjusted for non-cash operating items,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.2474em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0357em;">working capital changes, as well as financial income received, and financial expenses, and net income taxes  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.9974em;"><span class="stl_287 stl_08 stl_150">paid.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:16.4974em;"><span class="stl_287 stl_08 stl_285" style="word-spacing:-0.0387em;">Cash flows from investing activities comprise payments in connection with acquisition of subsidiaries,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:17.2474em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0387em;">activities, and fixed and intangible asset investments, and proceeds from the sale of property, plant, and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:17.9974em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0373em;">equipment. In the parent financial statements, investing activities also include receipt of dividends from sub-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:18.7474em;"><span class="stl_287 stl_08 stl_161">sidiaries.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.2474em;"><span class="stl_287 stl_08 stl_47" style="word-spacing:-0.04em;">Leases are considered to be non-cash transactions. Cash flows relating to assets held under leases are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.9974em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.0371em;">recognized as payment of interest and repayment of debt. Cash flows from financing activities comprise  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:21.7474em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0353em;">changes in the size or composition of share capital and costs incidental thereto, as well as the arrangement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:22.4974em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0335em;">of loans, the repayment of interest-bearing debt, payment of dividend to the Group's shareholders, and the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:23.2474em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">purchase and sale of treasury shares.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:24.7474em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">Cash flows denominated in currencies other than Danish kroner (DKK) are translated using average exchange  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:25.4974em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">rates, unless such rates deviate materially from the exchange rates applicable on the transaction date.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.9899em;"><span class="stl_288 stl_11 stl_290" style="word-spacing:-0.0438em;">Reporting under the ESEF regulation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:27.7474em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">With securities listed on a regulated market within the EU, Ambu is required to prepare the Annual Report  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:28.4974em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0372em;">using a combination of the HTML format and to tag the primary consolidated financial statements using  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:29.2474em;"><span class="stl_287 stl_08 stl_169" style="word-spacing:-0.0333em;">iXBRL (Inline eXtensible Business Reporting Language).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:30.7474em;"><span class="stl_287 stl_08 stl_146" style="word-spacing:-0.0319em;">The Group’s iXBRL tags have been prepared in accordance with the ESEF taxonomy, which is included in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:31.4974em;"><span class="stl_287 stl_08 stl_160" style="word-spacing:-0.0317em;">ESEF regulation and developed based on the IFRS taxonomy, published by the IFRS Foundation.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:32.9974em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">The line items in the consolidated financial statements are tagged to elements in the ESEF taxonomy. For  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:33.7474em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0366em;">financial line items that are not directly defined in the ESEF taxonomy, an extension to the taxonomy has been  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:34.4974em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">created. Extensions are anchored to elements in the ESEF taxonomy, except for extensions that are subtotals.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:35.9974em;"><span class="stl_287 stl_08 stl_412" style="word-spacing:-0.0407em;">The Annual Report submitted to the Danish Financial Supervisory Authority (the Officially Appointed Mecha-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:36.7474em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">nism) is included in the zip file AMBU-2025-09-30-en.zip.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.3093em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.0668em;"><span class="stl_287 stl_08 stl_289" style="word-spacing:-0.0343em;">Revenue from the sale of goods is recognized in the income statement when all performance obligations have  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.8168em;"><span class="stl_287 stl_08 stl_202" style="word-spacing:-0.0355em;">been fulfilled at the point in time where risk is transferred. Revenue is measured at the fair value of the agreed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:25.5668em;"><span class="stl_287 stl_08 stl_104" style="word-spacing:-0.0337em;">consideration, exclusive of VAT and taxes collected on behalf of a third party. At the time of recognition of reve-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.3168em;"><span class="stl_287 stl_08 stl_208" style="word-spacing:-0.0349em;">nue, a number of price adjustments are also estimated. These are recognized as a reduction to revenue.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.6574em;"><span class="stl_287 stl_08 stl_157" style="word-spacing:-0.0394em;">The most significant price adjustments stem from sales generated through dealers in the U.S. The dealer con-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.4074em;"><span class="stl_287 stl_08 stl_114" style="word-spacing:-0.0408em;">tracts contain chargebacks related to contractual arrangements between Ambu and the dealers whereby prod-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:29.1574em;"><span class="stl_287 stl_08 stl_157" style="word-spacing:-0.0395em;">ucts are sold to the end-customers at contract prices lower than the list prices originally charged to the dealers.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:29.9074em;"><span class="stl_287 stl_08 stl_67" style="word-spacing:-0.0367em;">This requires monitoring of sales to individual dealers at the product level. In addition, the sales contracts also  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:30.6574em;"><span class="stl_287 stl_08 stl_142" style="word-spacing:-0.0378em;">contain volume and product-specific rebates, as well as other types of rebates.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:31.9937em;"><span class="stl_438 stl_92 stl_344" style="word-spacing:-0.0424em;">Delivery and payment terms  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:32.748em;"><span class="stl_287 stl_08 stl_270" style="word-spacing:-0.0386em;">The Group's primary performance obligation is the sale and delivery of medical technology solutions to custom-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:33.498em;"><span class="stl_287 stl_08 stl_190" style="word-spacing:-0.0384em;">ers. The performance obligation is fulfilled when the risk of the goods is passed to the customer, which most  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:34.248em;"><span class="stl_287 stl_08 stl_284" style="word-spacing:-0.0369em;">often occurs at a prior agreed delivery address. Due to the Group's focus on disposable devices, the Group is not  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:34.998em;"><span class="stl_287 stl_08 stl_189" style="word-spacing:-0.034em;">subject to any material guarantee obligations.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:36.3387em;"><span class="stl_287 stl_08 stl_461" style="word-spacing:-0.0356em;">The Group has no open sales orders expected to be delivered more than one year from the balance sheet date,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:37.0887em;z-index:3854;"><span class="stl_287 stl_08 stl_658" style="word-spacing:-0.0285em;">and therefore, no performance obligations have been disclosed in accordance with IFRS 15 par 121.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:29.2862em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:30.0437em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">Staff costs comprise remuneration, wages and salaries, pension contributions, etc., and share-based pay-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:30.7937em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0363em;">ment to the company’s employees, incl. termination benefits. The Group has no defined benefit plans.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:31.8737em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:32.6312em;"><span class="stl_287 stl_08 stl_78" style="word-spacing:-0.028em;">For a description of accounting policies, reference is made to notes 3.1, 3.2, and 3.3.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:17.55em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:18.3075em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Special items comprise costs or income that cannot be attributed directly to the Group's ordinary activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:19.0575em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0357em;">and are of a non-recurring of nature, e.g., strategic re-evaluation. Such costs include the cost related to sig-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:19.8075em;"><span class="stl_287 stl_08 stl_396" style="word-spacing:-0.0405em;">nificant restructuring of the cost base and processes, as well as restructuring costs related to resignation of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:20.5575em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0339em;">employees. Further special items include redundancy costs' related to the Group's Management, impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:21.3075em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0373em;">of assets, and remeasurement of technology debt.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:22.8075em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">These items are presented separately to facilitate the comparability of the income statement and to provide a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:23.5575em;"><span class="stl_287 stl_08 stl_97" style="word-spacing:-0.0422em;">better picture of the operating results.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.7719em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.5294em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0353em;">The tax for the year, which consists of current tax and changes in deferred tax, is recognized in the income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.2794em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0383em;">statement, with the portion attributable to the profit for the year; and in other comprehensive income with  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.0294em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">the portion attributable to amounts recognized directly in other comprehensive income; and in equity with  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.7794em;"><span class="stl_287 stl_08 stl_412" style="word-spacing:-0.0409em;">the portion attributable to amounts recognized directly in equity. The tax effect of share-based payment is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.5294em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0373em;">included in tax on the profit for the year with the portion attributable to the Group’s deductible share of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.2794em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">cost from the Black-Scholes or other applied valuation model, and the remaining tax effect is included in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.0294em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0347em;">equity. Tax is provided on the basis of the tax rules and tax rates applicable in the individual countries.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5017em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2592em;"><span class="stl_287 stl_08 stl_510" style="word-spacing:-0.0391em;">Deferred tax is measured under the balance-sheet liability method on the basis of all temporary differences  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0092em;"><span class="stl_287 stl_08 stl_475" style="word-spacing:-0.0395em;">between the carrying amount and tax base of assets and liabilities. Deferred tax is not recognized on tempo-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.7592em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0395em;">rary differences resulting from the initial recognition of goodwill. Deferred tax assets, including the tax base  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.5092em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0403em;">of tax loss carry-forwards, are recognized under other non-current assets at the expected usable value, either  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.2592em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0396em;">as a set-off against tax on future income or as a set-off against deferred tax liabilities in the same legal tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.0092em;"><span class="stl_287 stl_08 stl_161">entity.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.5092em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0325em;">Adjustment is made of deferred tax in relation to eliminations made as regards unrealized intercompany prof-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.2592em;"><span class="stl_287 stl_08 stl_392" style="word-spacing:-0.0462em;">its and losses.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.7592em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">The value of deductible temporary differences is recognized to the extent that the Management, on the basis  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.5092em;"><span class="stl_287 stl_08 stl_510" style="word-spacing:-0.0392em;">of budgets, business plans, etc., is able to render probable that the value can be offset against temporary  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.2592em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">deferred tax liabilities or against future taxable income. Tax losses are recognized to the extent that the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.0092em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0381em;">Management can render probable that these can be offset against future taxable income.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.5092em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.0379em;">Deferred tax is calculated on share-based payments to the extent that the individual scheme is deductible  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.2592em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">for the Group. Deferred tax is calculated as the difference between the value of the share-based payment at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.0092em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0353em;">the time of allocation and the fair value, whichever is higher. Deferred tax assets from share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.7592em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">schemes are recognized proportionately over the vesting period. The tax asset is recognized in the income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.5092em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">statement at a value corresponding to the tax deduction for the scheme-related costs recognized in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.2592em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">income statement. Any additional values are recognized directly in equity.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.7592em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">Deferred tax is measured on the basis of the taxation rules and tax rates, which, pursuant to the legislation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.5092em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">in force at the balance sheet date, will apply in the individual countries at the time when the deferred tax is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:29.2592em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0381em;">expected to become payable as current tax. Changes in deferred tax resulting from changes in tax rates are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:30.0092em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">recognized in the income statement.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:19.8905em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:20.648em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0341em;">Earnings per share are presented as both earnings per share and diluted earnings per share. Earnings per  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:21.398em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">share are calculated as the net profit for the year divided by the average number of outstanding shares.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:22.148em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0341em;">Diluted earnings per share are calculated as the net profit for the year divided by the sum of the average  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:22.898em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">number of outstanding shares, including the dilutive effect of outstanding share-based payment settled in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:23.648em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">shares that are ‘in the money’. The dilutive effect of share-based payment that is ‘in the money’ is calculated  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:24.398em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">as the difference between the number of shares that could be acquired at fair value for the proceeds from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:25.148em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">the exercise of the share-based payment, offset against the share of the granted fair value of the share-based  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:25.898em;"><span class="stl_287 stl_08 stl_150" style="word-spacing:-0.0295em;">payment not yet recognized.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:10.478em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.2355em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0357em;">On recognition, goodwill represents the excess cost of an acquisition over the fair value of the identifiable net  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.9855em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0326em;">assets of the acquired company. Subsequently, goodwill is measured at cost less accumulated impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:12.7355em;"><span class="stl_287 stl_08 stl_294" style="word-spacing:-0.0406em;">losses. Goodwill is not amortized.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.2355em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">At the time of acquisition, goodwill is attributed to the cash-generating units which are expected to benefit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.9855em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.0301em;">from the business combination; however, not to a level lower than the segment level and the level at which  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:15.7355em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">goodwill is monitored as part of the internal financial management. The Management has identified one  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:16.4855em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0353em;">operating segment as being the whole Group to which goodwill is allocated.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:17.9855em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0389em;">The carrying amount of goodwill is tested for impairment together with the other non-current assets of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:18.7355em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0341em;">cash-generating unit to which goodwill has been allocated (being the whole Group) and is impaired to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:19.4855em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0339em;">recoverable amount in the income statement if the carrying amount is higher. Impairment of goodwill is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.2355em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0367em;">recognized as a separate item in the income statement. Goodwill is tested annually for impairment, the first  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.9855em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0347em;">time being by the end of the year of recognition in connection with a business combination.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:22.4855em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">The impairment test of goodwill is based on the quoted price on Nasdaq Copenhagen at the balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:23.2355em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0331em;">date. Therefore the impairment test is taking base in level 1 in accordance with the fair value hierarchy.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:24.7355em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">Impairment of goodwill is not reversed. Impairment of other assets is reversed in so far as the assumptions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:25.4855em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">and estimates on the basis of which the impairment is made have been changed. Impairments are only  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.2355em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">reversed in so far as the new carrying amount of the asset does not exceed the carrying amount of the asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.9855em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">after amortization, had the asset not been impaired.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:9.965em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0353em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:10.7225em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Acquired technologies, trademarks, and customer relations, primarily  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:11.4725em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">comprising identified technologies, are recognized at fair value at the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:12.2225em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">time of acquisition in connection with a business combination. Any  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:12.9725em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">other intangible asset is recognized at cost.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:14.4725em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">Development and IT projects are recognized as intangible assets if  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:15.2225em;"><span class="stl_287 stl_08 stl_31" style="word-spacing:-0.042em;">they meet certain criteria. These projects must be clearly defined and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:15.9725em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0376em;">identifiable, with proven technical feasibility and sufficient resources  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:16.7225em;"><span class="stl_287 stl_08 stl_150" style="word-spacing:-0.0297em;">available for completion. Additionally, there should be a potential mar-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:17.4725em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0351em;">ket or scope for the project, and the Group must intend to produce,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:18.2225em;"><span class="stl_287 stl_08 stl_309" style="word-spacing:-0.0411em;">market, or use the project. The directly attributable cost should be  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:18.9725em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0377em;">reliably measurable, and there must be certainty that future earnings  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:19.7225em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0349em;">or the net selling price will cover all costs.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:21.215em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0418em;">Useful lifetime and residual value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:21.9725em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">Intangible assets, excl. goodwill, are amortized according to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:22.7225em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">straight-line method over the expected useful lifetime of the indi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:23.4725em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0384em;">vidual asset. The residual value for all intangible assets is assessed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:24.2225em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0363em;">as zero. The amortization of the intangible asset commences upon  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:24.9725em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0375em;">completion of the project or when the asset is ready for use. The basis  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:25.7225em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">of amortization is reduced by impairment losses, if any. The useful  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:26.4725em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">life of the asset may subsequently be changed if the original assump-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:27.2225em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0328em;">tions on which the useful life and any residual value are based have  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:27.9725em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0333em;">changed significantly.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:29.4725em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">The expected useful lifetimes of intangible assets are as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:30.9725em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.034em;">Acquired technologies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8245em;top:30.9725em;"><span class="stl_287 stl_08 stl_866">5</span><span class="stl_287 stl_08 stl_302">-</span><span class="stl_287 stl_08 stl_105" style="word-spacing:-0.0152em;">15 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:31.7225em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">Completed development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8189em;top:31.7225em;"><span class="stl_287 stl_08 stl_866">5</span><span class="stl_287 stl_08 stl_302">-</span><span class="stl_287 stl_08 stl_140" style="word-spacing:-0.0188em;">10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:32.4725em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">Distribution rights, patents, and licenses, etc.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.7689em;top:32.4725em;"><span class="stl_287 stl_08 stl_37" style="word-spacing:-0.0311em;">5-20 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:33.2225em;"><span class="stl_287 stl_08 stl_521" style="word-spacing:-0.0528em;">IT software projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.1158em;top:33.2225em;"><span class="stl_287 stl_08 stl_322" style="word-spacing:-0.046em;">3-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5652em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.3183em;"><span class="stl_438 stl_92 stl_471" style="word-spacing:-0.0432em;">Impairment testing of other intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0727em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">At each reporting date, the Management performs an assessment of whether internal or external indications  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.8227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0359em;">of impairment of the identified intangible assets exist. If there is any indication of impairment, an impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.5727em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0373em;">test is carried out. If an indication of impairment exists, the recoverable amount of the asset is determined,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.3227em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">i.e. the higher of the fair value of the asset, less anticipated costs of disposal and its value-in-use. For assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.0727em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">that are either fully or partially impaired, both their fair value and value-in-use are assessed to verify whether  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.8227em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">the impairment remains and to determine if further impairment, or a reversal of previously recorded impair-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.5727em;"><span class="stl_287 stl_08 stl_412" style="word-spacing:-0.0407em;">ment losses, is necessary.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.0727em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0345em;">Reversals of previously recognized impairment losses are only recorded when there is a change in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.8227em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0367em;">assumptions for the original impairment. This includes changes in expected future cash flows or the discount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.5727em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">rate, in the case of value-in-use, or an increase in fair value, reflecting a genuine improvement of the asset’s  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.3227em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0332em;">recoverable amount, excluding changes solely due to the passage of time.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.8227em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">Development projects in progress, either acquired or internally generated, are tested for impairment mini-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.5727em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">mum on an annual basis and if there is any indication of impairment. For completed development projects, it  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.3227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">is continuously assessed whether there is any indication of impairment.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.8227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">Impairment tests are either carried out by calculating the value in use, by using a discounted cashflow model,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.5727em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0363em;">or by calculating the fair value, depending on the type of intangible asset. If the initial impairment test shows  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.3227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">a calculated amount lower than the carrying value of the asset, both fair value and value in use are calculated,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.0727em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0339em;">and an impairment loss is recognized at the higher amount of either fair value or value in use if both calcu-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.8227em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0381em;">lated values are below the carrying amount of the asset. The impairment assessment, and the possible fol-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.5727em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.0379em;">lowing impairment test, is carried out per individual asset.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:10.4781em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:11.2356em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">Land and buildings, plant and machinery, and other plant, fixtures  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:11.9856em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0375em;">and fittings, tools and equipment are measured at cost less accu-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:12.7356em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">mulated depreciation and impairment losses. Cost comprises the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:13.4856em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0381em;">acquisition price and any costs directly attributable to the acquisition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:14.2356em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">until the date when the asset is ready for use. The cost of a total asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:14.9856em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">is divided into separate elements which are depreciated individually  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:15.7356em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">when the useful lives of the individual elements differ.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:17.2312em;"><span class="stl_438 stl_92 stl_207" style="word-spacing:-0.0409em;">Useful lifetime and residual value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:17.9856em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">The basis of depreciation is calculated in consideration of the resi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:18.7356em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0328em;">dual value of the asset and is reduced by impairment losses, if any.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:19.4856em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">The residual value is fixed at the date of acquisition and is subject to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:20.2356em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0336em;">annual review. When the residual value exceeds the carrying amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:20.9856em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0365em;">of the asset, depreciation will no longer take place. In connection with  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:21.7356em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">changes in the depreciation period or the residual value, the effect  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:22.4856em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0324em;">of depreciation is recognized in future as a change in the accounting  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:23.2356em;"><span class="stl_287 stl_08 stl_39">estimate.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:24.7356em;"><span class="stl_287 stl_08 stl_47" style="word-spacing:-0.0399em;">The carrying amount of property, plant, and equipment is assessed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:25.4856em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">on an annual basis to establish whether there is any indication of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:26.2356em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">impairment. When such indication exists, an impairment test is per-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:26.9856em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">formed. An impairment loss is recognized when the carrying amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:27.7356em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">of an asset exceeds the recoverable amount of the asset.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:29.2356em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0337em;">Property, plant, and equipment are depreciated according to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:29.9856em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.0369em;">straight-line method over the expected useful lives of the assets/com-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:30.7356em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0367em;">ponents, as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:32.2356em;"><span class="stl_287 stl_08 stl_146">Buildings  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.9361em;top:32.2356em;"><span class="stl_287 stl_08 stl_97" style="word-spacing:-0.0423em;">10-40 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:32.9856em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0349em;">Building installations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.9405em;top:32.9856em;"><span class="stl_287 stl_08 stl_137" style="word-spacing:-0.018em;">10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:33.7356em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">Plant and machinery  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.4268em;top:33.7356em;"><span class="stl_287 stl_08 stl_502" style="word-spacing:0.0089em;">2-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:34.4856em;"><span class="stl_287 stl_08 stl_309" style="word-spacing:-0.041em;">Other fixtures and equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.6849em;top:34.4856em;"><span class="stl_287 stl_08 stl_322" style="word-spacing:-0.046em;">3-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:35.9856em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">Land is not depreciated.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:37.4856em;"><span class="stl_287 stl_08 stl_176" style="word-spacing:-0.0355em;">Depreciation is recognized in the income statement under production  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:38.2356em;"><span class="stl_287 stl_08 stl_267" style="word-spacing:-0.041em;">costs, selling, and distribution costs, development costs, or manage-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:38.9856em;"><span class="stl_287 stl_08 stl_110" style="word-spacing:-0.0342em;">ment and administrative expenses, as appropriate. See note 2.4.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.4781em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:11.2356em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">‘Right-of-use assets’ refer to a contract or part of a contract that conveys the lessee’s right to use an asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:11.9856em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0338em;">for a period of time. At the commencement date, the Group recognizes a lease liability and a corresponding  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.7356em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">right-of-use asset at the same amount. A right-of-use asset is initially measured at cost, which equals the ini-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:13.4856em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">tial lease liability and initial direct costs, less any lease incentives received. The Group has applied the practi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.2356em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0377em;">cal expedient option allowed under IFRS by using a portfolio approach for the recognition of lease contracts  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.9856em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">related to assets of the same nature and with similar lease terms.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:16.4856em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">The right-of-use asset is depreciated over the earlier of the lease term or the useful life of the asset. The  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:17.2356em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0375em;">impairment testing of right-of-use assets follows the same principles as those applied for property, plant,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:17.9856em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">and equipment, cf. note 3.3. The cost price is adjusted for remeasurement of the lease liability. The Group  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:18.7356em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">has elected not to recognize right-of-use assets and liabilities for leases with a term of 12 months or less and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:19.4856em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0365em;">leases of low-value assets. Lease payments related to such leases are recognized in the income statement as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:20.2356em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0349em;">an expense on a straight-line basis over the lease term.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:21.7356em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">For right-of-use assets, cost is calculated at the lower of the fair value of the assets and the present value of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:22.4856em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0367em;">the future minimum lease payments. For calculating the present value, the internal rate of interest of the lease  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.2356em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">is used as the discount rate. Right-of-use assets are measured at cost, less depreciation and impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.9856em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0347em;">losses, and adjusted for remeasurement of the lease liability.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:25.4856em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Right-of-use assets in progress are measured at cost in line with accounting policy for property, plant, and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.2356em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">machinery, cf. note 3.3, where the Group has control of the underlying assets during the rebuilding phases.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:25.6918em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:26.4493em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0325em;">Inventories are measured at the lower of cost calculated according to the FIFO principle and net realizable  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:27.1993em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">value. The net realizable value is calculated as the selling price less costs of completion and costs necessary  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:27.9493em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0349em;">to make the sale. The cost of goods for resale, as well as raw materials and consumables, comprises the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:28.6993em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0402em;">acquisition price plus delivery costs.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:30.1993em;"><span class="stl_287 stl_08 stl_510" style="word-spacing:-0.0393em;">The cost of manufactured goods comprises the cost of raw materials, consumables, direct labour costs,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:30.9493em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0376em;">and production overheads in the form of logistics and planning costs, production management, as well as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:31.6993em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">expenses for production facilities and equipment, etc.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.0312em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.7887em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">Trade receivables are measured at amortized cost less write-down for lifetime expected credit losses. To  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.5387em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0365em;">measure the expected credit losses, trade receivables are grouped according to shared credit risk character-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.2887em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0365em;">istics and days overdue. Furthermore, an allowance for lifetime credit losses for trade receivables is recog-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.0387em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0328em;">nized on initial recognition.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:18.0254em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:18.7829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">Debt to credit institutions, etc., is recognized at the date of borrowing at fair value corresponding to the pro-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:19.5329em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">ceeds received, less transaction costs paid. In subsequent periods, the financial liabilities are measured at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:20.2829em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">amortized cost using the ‘effective rate of interest method’ so that the difference between the proceeds and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:21.0329em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0344em;">the nominal value is recognized under financial expenses in the income statement for the duration of the loan  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:21.7829em;"><span class="stl_287 stl_08 stl_372">term.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.2829em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">Derivative financial instruments are recognized as from the transaction date and are measured at fair value in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.0329em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0355em;">the balance sheet. The fair value of derivative financial instruments is calculated on the basis of current mar-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.7829em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0338em;">ket data, as well as accepted valuation methods.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.2829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">Changes in the fair value of derivative financial instruments are recognized on an ongoing basis in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.0329em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0384em;">income statement.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.5329em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0371em;">Other liabilities are measured at amortized cost.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:30.0329em;"><span class="stl_287 stl_08 stl_127" style="word-spacing:-0.029em;">Fair value hierarchy is as following:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:31.5329em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.036em;">Level 1: The fair value of financial instruments traded on active markets is based on the listed market prices at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7938em;top:32.2829em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0325em;">the balance sheet date.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7938em;top:33.0329em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">The listed price is used for the Group’s financial assets as the current purchase price.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:34.5329em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0324em;">Level 2: The fair value of financial instruments which are not traded in an active market (e.g., over-the-counter  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8257em;top:35.2829em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0349em;">derivatives), is determined using ordinary valuation methods.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:36.7829em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">Level 3: If no observable market data is available, the instrument is included in the last category.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:23.411em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:24.1685em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0355em;">Financial income and expenses comprise interest, exchange gains and losses, transactions in foreign cur-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:24.9185em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">rencies, and amortization of financial assets and liabilities, including leases. The timing effect and fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:25.6685em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">adjustment of contingent consideration and the purchase price payable are classified under net financials.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:35.0134em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:35.7709em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Acquisition costs and consideration, as well as the dividend on treasury shares, are recognized directly in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:36.5209em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">retained earnings under equity. Proceeds from the sale of treasury shares and the issue of shares in Ambu  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:37.2709em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">A/S in connection with the exercise of share options, and from the sale of employee shares or warrants, are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:38.0209em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0377em;">taken directly to equity.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:23.6424em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:24.3999em;"><span class="stl_287 stl_08 stl_146" style="word-spacing:-0.032em;">Provisions are recognized when the Group, as a result of an event occuring before or on the balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:25.1499em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">date, has incurred a legal or actual liability, and it is probable that economic benefits will flow from the Group  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:25.8999em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0371em;">in order to settle the liability. If the effect of the time value of money is significant, provisions are discounted  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:26.6499em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">using a pre-tax discount rate. When applying a discount rate, the change in provisions, due to the timing, is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:27.3999em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0351em;">recognized as a financial cost.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:29.2812em;"><span class="stl_288 stl_11 stl_372" style="word-spacing:-0.0376em;">§ Accounting policy  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:30.0387em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">The fair value of Ambu’s share-based payment is expensed on an accrual basis. Fair value of equity-based  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:30.7887em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">schemes at the time of allocation is calculated according to recognized valuation models or methods. This  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:31.5387em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">value is expensed over the service period for each of the respective schemes and is taken to equity. On rec-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:32.2887em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">ognition of the fair value during the service period, account is taken of the number of employees who are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:33.0387em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">expected to obtain a final right to the scheme, including the conditions to which the allocation is subject.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:33.7887em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0395em;">This estimate is reassessed at the end of each reporting period so that only the number of rights expected to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:34.5387em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">be vested is recognized. Adjustments relating to previous periods are recognized in the period in which the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:35.2887em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0343em;">adjustment is made. The fair value per unit does not change.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:22.9574em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.7149em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0341em;">Proposed dividend is recognized as a liability at the time of adoption by the annual general meeting.  </span></div> 135000000 145000000 5314000000 5594000000 0 0 0 0 -109000000 -109000000 609000000 0 609000000 609000000 -109000000 500000000 0 0 0 0 0 0 0 0 0 0 31000000 0 11000000 31000000 0 11000000 102000000 -1000000 5864000000 102000000 -1000000 6035000000 135000000 36000000 135000000 211000000 5047000000 5393000000 0 0 0 0 -66000000 -66000000 235000000 0 235000000 235000000 -66000000 169000000 0 0 0 0 26000000 -6000000 5314000000 26000000 -6000000 5594000000 135000000 145000000 <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2256em;"><span class="stl_418 stl_11 stl_145" style="word-spacing:-0.0272em;">1.1 Basis of preparation and significant accounting estimates and judgments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5387em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">The Group’s general accounting policies are described below. In connection with this, specific accounting  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2887em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0353em;">policies have been incorporated into each of the individual notes to the consolidated financial statements.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.7887em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">The consolidated financial statements are presented in accordance with IFRS accounting standards as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.5387em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0347em;">adopted by the EU and additional disclosure requirements in the Danish Financial Statements Act.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.0387em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">The financial statements of the parent company, Ambu A/S, are presented separately from the consolidated  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.7887em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">financial statements and can be found on the last pages of this report. The parent company’s separate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.5387em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0339em;">accounting policies are shown in conjunction with the financial statements of the parent company.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.0387em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">The accounting policies described below have been applied consistently in the preparation of the consoli-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.7887em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0355em;">dated financial statements in the years presented. The accounting policies have been applied consistently  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.5387em;"><span class="stl_287 stl_08 stl_176" style="word-spacing:-0.0256em;">with prior year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.0312em;"><span class="stl_288 stl_11 stl_540" style="word-spacing:-0.0416em;">Basis of measurement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.7887em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0365em;">The consolidated financial statements are presented in Danish kroner (DKK), which is also Ambu A/S’ func-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.5387em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">tional currency. All amounts are rounded to the nearest million, unless otherwise stated. The Annual Report  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.2887em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0363em;">has been prepared in accordance with the historical cost principle, except for derivative financial instruments,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.0387em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0353em;">which are measured at fair value through profit and loss.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.5312em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0426em;">Applying materiality  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.2887em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.0379em;">The consolidated financial statements are a result of processing large numbers of transactions and aggre-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.0387em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0377em;">gating those transactions into classes according to their nature or function. The transactions are presented  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.7887em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0357em;">in classes of similar items in the consolidated financial statements. If a line item is not individually mate-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.5387em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">rial, it is aggregated with other items of a similar nature in the consolidated financial statements or in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:29.2887em;"><span class="stl_287 stl_08 stl_360">notes.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:30.7887em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">Management provides specific disclosure required by IFRS, unless the information is not applicable or con-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:31.5387em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">sidered immaterial to the economic decision-making of the users of these consolidated financial statements.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:33.0312em;"><span class="stl_288 stl_11 stl_31" style="word-spacing:-0.042em;">Significant accounting estimates and judgments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:33.7887em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">The preparation of the Group’s consolidated financial statements requires Management to make judgments,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:34.5387em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0396em;">estimates, and assumptions that affect the reported amounts of assets, liabilities, income, and expenses,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:35.2887em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0325em;">and the accompanying disclosures, including contingent liabilities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.5387em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0365em;">Management bases its estimates on historical experience and various other assumptions that are believed to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:11.2887em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">be reasonable under the circumstances. The results hereof form the basis for making judgments about the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0387em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0401em;">reported carrying amounts of assets and liabilities, and the reported amounts of income and expenses that  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.7887em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">may not be readily apparent from other sources. Uncertainty about these assumptions and estimates could  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:13.5387em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">result in outcomes that require a material adjustment to the carrying amount of assets or liabilities in future  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.2887em;"><span class="stl_287 stl_08 stl_375">periods.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.7887em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">The estimates and underlying assumptions are reviewed on an ongoing basis. Changes in estimates may be  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:16.5387em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.0371em;">necessary if there are changes in the circumstances on which an estimate was based, or more detailed infor-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:17.2887em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.034em;">mation becomes available. Such changes are recognized in the period in which the estimate is revised.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:18.0387em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">Management has made significant accounting estimates and judgements in respect of the following areas:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.0591em;top:20.5418em;"><span class="stl_288 stl_11 stl_400" style="word-spacing:-0.0395em;">Key accounting estimates and judgments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.0116em;top:20.5418em;"><span class="stl_288 stl_11 stl_342">Note  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.6097em;top:20.5418em;"><span class="stl_288 stl_11 stl_471" style="word-spacing:-0.0431em;">Estimate / judgment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6409em;top:20.5418em;"><span class="stl_288 stl_11 stl_522">Impact  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.0584em;top:22.1005em;"><span class="stl_287 stl_08 stl_87" style="word-spacing:-0.0357em;">Measurement of unsettled price adjustments in U.S., revenue</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.005em;top:22.1005em;"><span class="stl_287 stl_08 stl_45">2.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.6091em;top:22.1005em;"><span class="stl_287 stl_08 stl_394">Estimate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6403em;top:22.1972em;"><span class="stl_889 stl_890 stl_40"></span><span class="stl_891 stl_890 stl_40">  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.0578em;top:23.0311em;z-index:3598;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">Impairment test, goodwill</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.005em;top:23.0311em;z-index:3598;"><span class="stl_287 stl_08 stl_758">3.1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.6084em;top:23.0311em;"><span class="stl_287 stl_08 stl_155">Judgment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6397em;top:23.1278em;"><span class="stl_889 stl_890 stl_40"></span><span class="stl_891 stl_890 stl_40">  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.0572em;top:23.9618em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0345em;">Impairment test, acquired technologies and development</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.004em;top:23.9618em;"><span class="stl_287 stl_08 stl_31">3.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.6078em;top:23.9618em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">Estimate and judgment</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.632em;top:23.9618em;"><span class="stl_889 stl_890 stl_40">  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.0572em;top:24.7118em;"><span class="stl_287 stl_08 stl_641">projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.0591em;top:26.1267em;"><span class="stl_391 stl_08 stl_415" style="word-spacing:-0.0503em;">Level of potential impact on the consolidated financial statements: Medium </span><span class="stl_892 stl_890 stl_290" style="word-spacing:-0.0179em;"> </span><span class="stl_391 stl_08 stl_95" style="word-spacing:-0.0487em;">High </span><span class="stl_892 stl_890 stl_290">  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.5807em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">A further description of the principal accounting estimates and judgments is provided in the relevant notes.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:29.0732em;"><span class="stl_288 stl_11 stl_207" style="word-spacing:-0.0411em;">Climate risk  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:29.8307em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">The Group is exposed to risks associated with climate change. In preparing the consolidated financial state-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:30.5807em;"><span class="stl_287 stl_08 stl_45" style="word-spacing:-0.033em;">ments for 2024/25, Management has considered the impact of climate change. While sustainability is an  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:31.3307em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.0379em;">embedded part of the business, Management does not consider sustainability targets or climate change to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:32.0807em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0367em;">have a significant impact on the accounting estimates and judgments, consistent with the assessment that  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:32.8307em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0371em;">climate change is not expected to have a significant impact on the Group’s future cash flows, the carrying  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:33.5807em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0369em;">amount of non-current assets, or going concern assessment, given the geographical location of the Group's  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:34.3307em;"><span class="stl_287 stl_08 stl_47" style="word-spacing:-0.0401em;">tangible assets, and the sector, and markets in which it conducts its business.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:35.8307em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">Reference is made to the Sustainability Statement section for EU Taxonomy disclosures on eligible activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:36.5763em;"><span class="stl_440 stl_92 stl_146" style="word-spacing:-0.032em;">pp. 6</span><span class="stl_440 stl_92 stl_143" style="word-spacing:-0.0275em;">5-66 and pp. 79-81</span><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.0381em;">, which complement the assessment of climate-related risks in the financial state-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:37.3307em;"><span class="stl_287 stl_08 stl_403">ment.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2258em;"><span class="stl_418 stl_11 stl_145" style="word-spacing:-0.0272em;">1.2 Changes in accounting policies and disclosures  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.4899em;"><span class="stl_288 stl_11 stl_361" style="word-spacing:-0.037em;">Adoption of new or amended IFRS'  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2474em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0349em;">Management has assessed that new or amended IFRS Accounting Standards and interpretations issued by  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.9974em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0365em;">the IASB and endorsed by the EU effective for the 2024/25 financial year have not had a significant effect on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.7474em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.0379em;">the consolidated financial statements.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.2399em;"><span class="stl_288 stl_11 stl_245" style="word-spacing:-0.0401em;">Standards not yet adopted  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.9974em;"><span class="stl_287 stl_08 stl_169" style="word-spacing:-0.0334em;">New or amended IFRS Accounting Standards and interpretations issued by the IASB that have not yet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.7474em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0384em;">become effective are generally not adopted until they become effective and are endorsed by the EU.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.2474em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">The new standards that are not yet effective are not expected to have any material impact on the Group,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.9974em;"><span class="stl_287 stl_08 stl_79" style="word-spacing:-0.0315em;">except for IFRS 18 Presentation and Disclosure in Financial Statements, which was issued in April 2024 and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.7474em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0341em;">will be effective from our financial year 2027/28, impacting presentation and disclosure of the financial state-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.4974em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">ments. Ambu is currently evaluating the potential impact of this standard.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4491em;top:9.2258em;"><span class="stl_418 stl_11 stl_176" style="word-spacing:-0.0255em;">1.3 General accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:10.4899em;"><span class="stl_288 stl_11 stl_298" style="word-spacing:-0.0375em;">Principles of consolidation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.2474em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">The consolidated financial statements comprise Ambu A/S and companies in which Ambu A/S has a con-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.9974em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">trolling interest. Control is deemed to be obtained if Ambu A/S owns more than 50% of the voting rights, or if  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:12.7474em;"><span class="stl_287 stl_08 stl_146" style="word-spacing:-0.0321em;">Ambu A/S in any other way has a controlling interest in the company.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.2474em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">The subsidiaries’ financial statements are adjusted, if necessary, to ensure that their accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.9974em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">are consistent with those of the rest of the Group. All intercompany transactions, balances, income, and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:15.7474em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0339em;">expenses are fully eliminated on consolidation except for currency translations of intercompany balances,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:16.4974em;"><span class="stl_287 stl_08 stl_169" style="word-spacing:-0.0334em;">which are recognized as financial items.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:17.9899em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0426em;">Foreign currency translation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:18.7474em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">A functional currency is determined for each company in the Ambu Group. The functional currency is the cur-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:19.4974em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0372em;">rency used in the primary economic environment in which the individual subsidiary operates.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.9974em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0353em;">Transactions in foreign currencies are translated to the functional currency using the exchange rate applica-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:21.7474em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0371em;">ble at the transaction date. Foreign exchange gains and losses in connection with the settlement of these  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:22.4974em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">transactions and the translation of monetary assets and liabilities in foreign currencies at the exchange rates  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:23.2474em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0336em;">applicable at the balance sheet date are recognized in the income statement under net financials.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:24.7474em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0359em;">Receivables, payables, and other monetary items denominated in foreign currencies are translated to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:25.4974em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0371em;">functional currency at the exchange rate applicable at the balance sheet date. The difference between the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.2474em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0327em;">exchange rate applicable at the balance sheet date and the exchange rate applicable at the date on which the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.9974em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">receivable or payable occurred or the exchange rate stated in the most recent Annual Report is recognized in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:27.7474em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0359em;">the income statement under net financials.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:29.2474em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0379em;">The financial statements of subsidiaries with a functional currency other than Danish kroner (DKK) are trans-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:29.9974em;"><span class="stl_287 stl_08 stl_160" style="word-spacing:-0.0318em;">lated to DKK at the exchange rates for balance sheet items applicable at the balance sheet date and at aver-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:30.7474em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.0369em;">age exchange rates as far as income statement items are concerned. Exchange rate differences arising from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:31.4974em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">the translation of the net assets of such subsidiaries at the beginning of the year using the exchange rates  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:32.2474em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">applicable at the balance sheet date and the translation of income statement items from the exchange rates  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:32.9974em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0341em;">applicable at the transaction date to the exchange rates applicable at the balance sheet date are recognized  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:33.7474em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0359em;">in other comprehensive income and presented as a separate reserve for foreign currency translation adjust-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:34.4974em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0371em;">ments under equity.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.4899em;"><span class="stl_288 stl_11 stl_31" style="word-spacing:-0.0419em;">Presentation of income statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.243em;"><span class="stl_438 stl_92 stl_431" style="word-spacing:-0.0431em;">Income statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.9974em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0345em;">Income and expenses are recognized according to the accruals concept. The income statement is presented  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.7474em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0401em;">by functions where the respective cost impacts the function to which the cost is deemed to relate. The  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.4974em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0341em;">Group’s functions are divided into production, sales and distribution, development, and management and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.2474em;"><span class="stl_287 stl_08 stl_97" style="word-spacing:-0.0421em;">administrative costs.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.743em;"><span class="stl_438 stl_92 stl_426" style="word-spacing:-0.0477em;">Production costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.4974em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">Production costs comprise costs incurred in generating the revenue for the year. Production costs include  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.2474em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0383em;">direct and indirect costs for raw materials and consumables, freight costs incurred in connection with the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.9974em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0401em;">purchase of commodities, etc., production wages and salaries for support functions, and factory manage-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.7474em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0337em;">ment, as well as depreciation and impairment of plant and depreciation of leases.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.243em;"><span class="stl_438 stl_92 stl_528" style="word-spacing:-0.0443em;">Selling and distribution costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.9974em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">Selling and distribution costs comprise costs for sales staff, advertising and exhibitions, depreciation, impair-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.7474em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">ment, and operation of central warehouses, as well as all costs relating to the transport of goods from the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.4974em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">Group’s factories to the customers.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.993em;"><span class="stl_438 stl_92 stl_309" style="word-spacing:-0.041em;">Research and development costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.7474em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">Research and development costs comprise salaries and costs which, directly or indirectly, can be attributed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.4974em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0372em;">to product improvements and the development of new products which do not meet the criteria for capitaliza-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.2474em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0363em;">tion of an internally generated development project. In addition, the amortization and impairment of capital-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.9974em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">ised development costs and rights and acquired technologies are recognized.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.493em;"><span class="stl_438 stl_92 stl_347" style="word-spacing:-0.0434em;">Management and administrative costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:29.2474em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0367em;">Administrative costs comprise expenses incurred for management and administration, including expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:29.9974em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">for the administrative staff, office premises, office expenses, and IT, as well as amortization and impairment,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:30.7474em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">and depreciation of leases.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:32.2399em;"><span class="stl_288 stl_11 stl_245" style="word-spacing:-0.0403em;">Presentation of balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:32.993em;"><span class="stl_438 stl_92 stl_69" style="word-spacing:-0.0463em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:33.7474em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0376em;">Cash and cash equivalents comprise cash in bank, alternating between positive and negative balances, and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:34.4974em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0413em;">short-term deposits with a maturity of less than three months.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:35.993em;"><span class="stl_438 stl_92 stl_409">Prepayments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:36.7474em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0365em;">Prepayments comprise various payments mainly related to IT licences, utilities, and insurance. Amortization  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:37.4974em;"><span class="stl_287 stl_08 stl_45" style="word-spacing:-0.033em;">of prepayments are recognized in the income statement over the period of time the prepayments cover.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:10.4899em;"><span class="stl_288 stl_11 stl_333" style="word-spacing:-0.047em;">Cash flow statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.2474em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">The cash flow statement has been prepared on the basis of the indirect method and shows the Group’s cash  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.9974em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">flows from operating, investing, and financing activities for the year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:13.4974em;"><span class="stl_287 stl_08 stl_294" style="word-spacing:-0.0407em;">Cash flows from operating activities are presented as the net profit adjusted for non-cash operating items,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.2474em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0357em;">working capital changes, as well as financial income received, and financial expenses, and net income taxes  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.9974em;"><span class="stl_287 stl_08 stl_150">paid.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:16.4974em;"><span class="stl_287 stl_08 stl_285" style="word-spacing:-0.0387em;">Cash flows from investing activities comprise payments in connection with acquisition of subsidiaries,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:17.2474em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0387em;">activities, and fixed and intangible asset investments, and proceeds from the sale of property, plant, and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:17.9974em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0373em;">equipment. In the parent financial statements, investing activities also include receipt of dividends from sub-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:18.7474em;"><span class="stl_287 stl_08 stl_161">sidiaries.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.2474em;"><span class="stl_287 stl_08 stl_47" style="word-spacing:-0.04em;">Leases are considered to be non-cash transactions. Cash flows relating to assets held under leases are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.9974em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.0371em;">recognized as payment of interest and repayment of debt. Cash flows from financing activities comprise  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:21.7474em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0353em;">changes in the size or composition of share capital and costs incidental thereto, as well as the arrangement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:22.4974em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0335em;">of loans, the repayment of interest-bearing debt, payment of dividend to the Group's shareholders, and the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:23.2474em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">purchase and sale of treasury shares.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:24.7474em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">Cash flows denominated in currencies other than Danish kroner (DKK) are translated using average exchange  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:25.4974em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">rates, unless such rates deviate materially from the exchange rates applicable on the transaction date.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.9899em;"><span class="stl_288 stl_11 stl_290" style="word-spacing:-0.0438em;">Reporting under the ESEF regulation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:27.7474em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">With securities listed on a regulated market within the EU, Ambu is required to prepare the Annual Report  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:28.4974em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0372em;">using a combination of the HTML format and to tag the primary consolidated financial statements using  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:29.2474em;"><span class="stl_287 stl_08 stl_169" style="word-spacing:-0.0333em;">iXBRL (Inline eXtensible Business Reporting Language).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:30.7474em;"><span class="stl_287 stl_08 stl_146" style="word-spacing:-0.0319em;">The Group’s iXBRL tags have been prepared in accordance with the ESEF taxonomy, which is included in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:31.4974em;"><span class="stl_287 stl_08 stl_160" style="word-spacing:-0.0317em;">ESEF regulation and developed based on the IFRS taxonomy, published by the IFRS Foundation.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:32.9974em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">The line items in the consolidated financial statements are tagged to elements in the ESEF taxonomy. For  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:33.7474em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0366em;">financial line items that are not directly defined in the ESEF taxonomy, an extension to the taxonomy has been  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:34.4974em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">created. Extensions are anchored to elements in the ESEF taxonomy, except for extensions that are subtotals.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:35.9974em;"><span class="stl_287 stl_08 stl_412" style="word-spacing:-0.0407em;">The Annual Report submitted to the Danish Financial Supervisory Authority (the Officially Appointed Mecha-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:36.7474em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">nism) is included in the zip file AMBU-2025-09-30-en.zip.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.0312em;"><span class="stl_288 stl_11 stl_540" style="word-spacing:-0.0416em;">Basis of measurement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.7887em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0365em;">The consolidated financial statements are presented in Danish kroner (DKK), which is also Ambu A/S’ func-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.5387em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">tional currency. All amounts are rounded to the nearest million, unless otherwise stated. The Annual Report  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.2887em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0363em;">has been prepared in accordance with the historical cost principle, except for derivative financial instruments,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.0387em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0353em;">which are measured at fair value through profit and loss.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:33.0312em;"><span class="stl_288 stl_11 stl_31" style="word-spacing:-0.042em;">Significant accounting estimates and judgments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:33.7887em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">The preparation of the Group’s consolidated financial statements requires Management to make judgments,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:34.5387em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0396em;">estimates, and assumptions that affect the reported amounts of assets, liabilities, income, and expenses,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:35.2887em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0325em;">and the accompanying disclosures, including contingent liabilities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.5387em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0365em;">Management bases its estimates on historical experience and various other assumptions that are believed to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:11.2887em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">be reasonable under the circumstances. The results hereof form the basis for making judgments about the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0387em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0401em;">reported carrying amounts of assets and liabilities, and the reported amounts of income and expenses that  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.7887em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">may not be readily apparent from other sources. Uncertainty about these assumptions and estimates could  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:13.5387em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">result in outcomes that require a material adjustment to the carrying amount of assets or liabilities in future  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.2887em;"><span class="stl_287 stl_08 stl_375">periods.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.7887em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">The estimates and underlying assumptions are reviewed on an ongoing basis. Changes in estimates may be  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:16.5387em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.0371em;">necessary if there are changes in the circumstances on which an estimate was based, or more detailed infor-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:17.2887em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.034em;">mation becomes available. Such changes are recognized in the period in which the estimate is revised.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:18.0387em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">Management has made significant accounting estimates and judgements in respect of the following areas:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.0591em;top:20.5418em;"><span class="stl_288 stl_11 stl_400" style="word-spacing:-0.0395em;">Key accounting estimates and judgments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.0116em;top:20.5418em;"><span class="stl_288 stl_11 stl_342">Note  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.6097em;top:20.5418em;"><span class="stl_288 stl_11 stl_471" style="word-spacing:-0.0431em;">Estimate / judgment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6409em;top:20.5418em;"><span class="stl_288 stl_11 stl_522">Impact  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.0584em;top:22.1005em;"><span class="stl_287 stl_08 stl_87" style="word-spacing:-0.0357em;">Measurement of unsettled price adjustments in U.S., revenue</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.005em;top:22.1005em;"><span class="stl_287 stl_08 stl_45">2.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.6091em;top:22.1005em;"><span class="stl_287 stl_08 stl_394">Estimate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6403em;top:22.1972em;"><span class="stl_889 stl_890 stl_40"></span><span class="stl_891 stl_890 stl_40">  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.0578em;top:23.0311em;z-index:3598;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">Impairment test, goodwill</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.005em;top:23.0311em;z-index:3598;"><span class="stl_287 stl_08 stl_758">3.1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.6084em;top:23.0311em;"><span class="stl_287 stl_08 stl_155">Judgment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6397em;top:23.1278em;"><span class="stl_889 stl_890 stl_40"></span><span class="stl_891 stl_890 stl_40">  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.0572em;top:23.9618em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0345em;">Impairment test, acquired technologies and development</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.004em;top:23.9618em;"><span class="stl_287 stl_08 stl_31">3.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.6078em;top:23.9618em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">Estimate and judgment</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.632em;top:23.9618em;"><span class="stl_889 stl_890 stl_40">  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.0572em;top:24.7118em;"><span class="stl_287 stl_08 stl_641">projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.0591em;top:26.1267em;"><span class="stl_391 stl_08 stl_415" style="word-spacing:-0.0503em;">Level of potential impact on the consolidated financial statements: Medium </span><span class="stl_892 stl_890 stl_290" style="word-spacing:-0.0179em;"> </span><span class="stl_391 stl_08 stl_95" style="word-spacing:-0.0487em;">High </span><span class="stl_892 stl_890 stl_290">  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.5807em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">A further description of the principal accounting estimates and judgments is provided in the relevant notes.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:29.0732em;"><span class="stl_288 stl_11 stl_207" style="word-spacing:-0.0411em;">Climate risk  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:29.8307em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">The Group is exposed to risks associated with climate change. In preparing the consolidated financial state-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:30.5807em;"><span class="stl_287 stl_08 stl_45" style="word-spacing:-0.033em;">ments for 2024/25, Management has considered the impact of climate change. While sustainability is an  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:31.3307em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.0379em;">embedded part of the business, Management does not consider sustainability targets or climate change to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:32.0807em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0367em;">have a significant impact on the accounting estimates and judgments, consistent with the assessment that  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:32.8307em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0371em;">climate change is not expected to have a significant impact on the Group’s future cash flows, the carrying  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:33.5807em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0369em;">amount of non-current assets, or going concern assessment, given the geographical location of the Group's  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:34.3307em;"><span class="stl_287 stl_08 stl_47" style="word-spacing:-0.0401em;">tangible assets, and the sector, and markets in which it conducts its business.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:35.8307em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">Reference is made to the Sustainability Statement section for EU Taxonomy disclosures on eligible activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:36.5763em;"><span class="stl_440 stl_92 stl_146" style="word-spacing:-0.032em;">pp. 6</span><span class="stl_440 stl_92 stl_143" style="word-spacing:-0.0275em;">5-66 and pp. 79-81</span><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.0381em;">, which complement the assessment of climate-related risks in the financial state-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:37.3307em;"><span class="stl_287 stl_08 stl_403">ment.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.3187em;"><span class="stl_288 stl_11 stl_207" style="word-spacing:-0.0412em;">! Material accounting estimates  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.0719em;"><span class="stl_438 stl_92 stl_322" style="word-spacing:-0.0459em;">Unsettled price adjustments in the U.S.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.8262em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0383em;">The primary unsettled price adjustments relate to chargebacks stemming from sales to dealers in the U.S.,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.5762em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">which also constitutes the material accounting estimate impacting revenue.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.0762em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0371em;">Chargebacks are offset against revenue and trade receivables. Chargebacks in the U.S. market are subject to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.8262em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0384em;">estimation uncertainty, as the actual price adjustment is not determined until the dealers sell the products to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.5762em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0386em;">the end-customers (hospitals, clinics, etc.). Chargebacks are the difference between the prices agreed with  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.3262em;"><span class="stl_287 stl_08 stl_285" style="word-spacing:-0.0388em;">the end-customers and the list prices originally charged to the dealers. The price adjustments are estimated  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.0762em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0383em;">using a combination of factors, such as historical experience from actual received claims, contract terms, and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.8262em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0344em;">the value of claims received, but not yet processed.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.3262em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0377em;">The chargebacks are estimated at the time the related sales are recorded. These estimates of unsettled  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.0762em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0332em;">chargebacks are considered a key accounting estimate as not all conditions are known at the time of the sale,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.8262em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0367em;">for example information about which end-customer will purchase the products from the dealer and at which  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.5762em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0367em;">price. The accruals are calculated on the basis of a percentage of sales for each product, as defined by the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.3262em;"><span class="stl_287 stl_08 stl_375" style="word-spacing:-0.0428em;">contracts with the various dealers.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.8262em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0365em;">Unsettled price adjustments recognized in the balance sheet amount to DKK </span><span class="stl_287 stl_08 stl_340">1</span><span class="stl_287 stl_08 stl_204" style="word-spacing:-0.0146em;">15m (DKK 72m) as of 30 Sep-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.5762em;"><span class="stl_287 stl_08 stl_201" style="word-spacing:-0.0236em;">tember 2025.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.603em;"><span class="stl_288 stl_11 stl_292" style="word-spacing:-0.0385em;">! Material accounting judgement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.3562em;"><span class="stl_438 stl_92 stl_299" style="word-spacing:-0.0413em;">Impairment testing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.1105em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0325em;">As described in section 2.1, the Ambu Group is managed as one single unit, for which reason the Manage-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.8605em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0326em;">ment monitors goodwill at Group level. Consequently, the impairment test is based on the Group’s market  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.6105em;"><span class="stl_287 stl_08 stl_61">value.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.1105em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0345em;">The market value of Ambu A/S’s shares is based on the quoted price of DKK 92.60 per share on Nasdaq  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.8605em;"><span class="stl_287 stl_08 stl_114" style="word-spacing:-0.0209em;">Copenhagen at 30 September 2025 (DKK 131.15 per share at 30 September 2024). Based on this market value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.6105em;"><span class="stl_287 stl_08 stl_129" style="word-spacing:-0.0214em;">approximation, Ambu's equity value is DKK 24.7bn (DKK 34.9bn), which leaves DKK 18.7bn (DKK 29.3bn) in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.3605em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0347em;">headroom to the carrying amount of equity. Therefore, the Management has concluded that the net selling  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.1105em;"><span class="stl_287 stl_08 stl_38" style="word-spacing:-0.0323em;">price, calculated on the basis of a level 1 fair value measurement, proves that there is no indication of impair-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.8605em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0337em;">ment of goodwill.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:10.579em;"><span class="stl_288 stl_11 stl_294" style="word-spacing:-0.0405em;">! Material accounting estimates and judgement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.3321em;"><span class="stl_438 stl_92 stl_437" style="word-spacing:-0.0435em;">Impairment test of other intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:12.0865em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">The Management assess the risk of impairment of the Ambu Group’s intangible assets. This requires judg-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:12.8365em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0381em;">ment in relation to the underlying assumptions of the future expected cash flows, of the individual assets, to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:13.5865em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0344em;">be applied in the Group’s impairment model. An impairment test is performed at least once a year for devel-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.3365em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0376em;">opment projects in progress. The impairment test is for each development project in progress determined  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:15.0865em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">on the basis of certain key assumptions, i.e. payback time, net present value, and actual development costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:15.8365em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0357em;">realised compared to the business case.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:17.3365em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0353em;">For acquired and completed development projects related to the GI technologies, the impairment test is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:18.0865em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0357em;">conducted by use of the ‘relief from royalty’ method as valuation model for determining the fair value. This is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:18.8365em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">consistent with the valuation method applied when the technologies were acquired.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.3365em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0359em;">The fair value hierarchy, by use of the ‘relief from royalty’ method is level 3, as unobservable inputs are used  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:21.0865em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">to measure the fair value to the extent that relevant observable inputs are not available, which include any  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:21.8365em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0341em;">information about market participant assumptions that is reasonably available.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:23.3365em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">The recoverable amount of each identified intangible asset related to the GI technologies is determined on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:24.0865em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0367em;">the basis of certain key assumptions, i.e. expected revenue, royalty rate, and discount rate, etc. The cash flow  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:24.8365em;"><span class="stl_287 stl_08 stl_396" style="word-spacing:-0.0403em;">projections for the individual assets, applied in the short-, mid-, and long-term perspective, reflects Man-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:25.5865em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">agement’s best estimate, including Group-strategic initiatives, local initiatives, past experience, and external  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.3365em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">sources of information, where possible and relevant for the individual assets.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.4899em;"><span class="stl_288 stl_11 stl_361" style="word-spacing:-0.037em;">Adoption of new or amended IFRS'  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2474em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0349em;">Management has assessed that new or amended IFRS Accounting Standards and interpretations issued by  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.9974em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0365em;">the IASB and endorsed by the EU effective for the 2024/25 financial year have not had a significant effect on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.7474em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.0379em;">the consolidated financial statements.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.2399em;"><span class="stl_288 stl_11 stl_245" style="word-spacing:-0.0401em;">Standards not yet adopted  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.9974em;"><span class="stl_287 stl_08 stl_169" style="word-spacing:-0.0334em;">New or amended IFRS Accounting Standards and interpretations issued by the IASB that have not yet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.7474em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0384em;">become effective are generally not adopted until they become effective and are endorsed by the EU.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.2474em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">The new standards that are not yet effective are not expected to have any material impact on the Group,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.9974em;"><span class="stl_287 stl_08 stl_79" style="word-spacing:-0.0315em;">except for IFRS 18 Presentation and Disclosure in Financial Statements, which was issued in April 2024 and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.7474em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0341em;">will be effective from our financial year 2027/28, impacting presentation and disclosure of the financial state-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.4974em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">ments. Ambu is currently evaluating the potential impact of this standard.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:10.4899em;"><span class="stl_288 stl_11 stl_298" style="word-spacing:-0.0375em;">Principles of consolidation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.2474em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">The consolidated financial statements comprise Ambu A/S and companies in which Ambu A/S has a con-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.9974em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">trolling interest. Control is deemed to be obtained if Ambu A/S owns more than 50% of the voting rights, or if  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:12.7474em;"><span class="stl_287 stl_08 stl_146" style="word-spacing:-0.0321em;">Ambu A/S in any other way has a controlling interest in the company.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.2474em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">The subsidiaries’ financial statements are adjusted, if necessary, to ensure that their accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.9974em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">are consistent with those of the rest of the Group. All intercompany transactions, balances, income, and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:15.7474em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0339em;">expenses are fully eliminated on consolidation except for currency translations of intercompany balances,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:16.4974em;"><span class="stl_287 stl_08 stl_169" style="word-spacing:-0.0334em;">which are recognized as financial items.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:17.9899em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0426em;">Foreign currency translation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:18.7474em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">A functional currency is determined for each company in the Ambu Group. The functional currency is the cur-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:19.4974em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0372em;">rency used in the primary economic environment in which the individual subsidiary operates.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.9974em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0353em;">Transactions in foreign currencies are translated to the functional currency using the exchange rate applica-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:21.7474em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0371em;">ble at the transaction date. Foreign exchange gains and losses in connection with the settlement of these  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:22.4974em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">transactions and the translation of monetary assets and liabilities in foreign currencies at the exchange rates  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:23.2474em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0336em;">applicable at the balance sheet date are recognized in the income statement under net financials.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:24.7474em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0359em;">Receivables, payables, and other monetary items denominated in foreign currencies are translated to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:25.4974em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0371em;">functional currency at the exchange rate applicable at the balance sheet date. The difference between the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.2474em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0327em;">exchange rate applicable at the balance sheet date and the exchange rate applicable at the date on which the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.9974em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">receivable or payable occurred or the exchange rate stated in the most recent Annual Report is recognized in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:27.7474em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0359em;">the income statement under net financials.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:29.2474em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0379em;">The financial statements of subsidiaries with a functional currency other than Danish kroner (DKK) are trans-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:29.9974em;"><span class="stl_287 stl_08 stl_160" style="word-spacing:-0.0318em;">lated to DKK at the exchange rates for balance sheet items applicable at the balance sheet date and at aver-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:30.7474em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.0369em;">age exchange rates as far as income statement items are concerned. Exchange rate differences arising from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:31.4974em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">the translation of the net assets of such subsidiaries at the beginning of the year using the exchange rates  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:32.2474em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">applicable at the balance sheet date and the translation of income statement items from the exchange rates  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:32.9974em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0341em;">applicable at the transaction date to the exchange rates applicable at the balance sheet date are recognized  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:33.7474em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0359em;">in other comprehensive income and presented as a separate reserve for foreign currency translation adjust-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:34.4974em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0371em;">ments under equity.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:10.4899em;"><span class="stl_288 stl_11 stl_333" style="word-spacing:-0.047em;">Cash flow statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.2474em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">The cash flow statement has been prepared on the basis of the indirect method and shows the Group’s cash  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.9974em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">flows from operating, investing, and financing activities for the year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:13.4974em;"><span class="stl_287 stl_08 stl_294" style="word-spacing:-0.0407em;">Cash flows from operating activities are presented as the net profit adjusted for non-cash operating items,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.2474em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0357em;">working capital changes, as well as financial income received, and financial expenses, and net income taxes  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.9974em;"><span class="stl_287 stl_08 stl_150">paid.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:16.4974em;"><span class="stl_287 stl_08 stl_285" style="word-spacing:-0.0387em;">Cash flows from investing activities comprise payments in connection with acquisition of subsidiaries,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:17.2474em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0387em;">activities, and fixed and intangible asset investments, and proceeds from the sale of property, plant, and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:17.9974em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0373em;">equipment. In the parent financial statements, investing activities also include receipt of dividends from sub-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:18.7474em;"><span class="stl_287 stl_08 stl_161">sidiaries.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.2474em;"><span class="stl_287 stl_08 stl_47" style="word-spacing:-0.04em;">Leases are considered to be non-cash transactions. Cash flows relating to assets held under leases are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.9974em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.0371em;">recognized as payment of interest and repayment of debt. Cash flows from financing activities comprise  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:21.7474em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0353em;">changes in the size or composition of share capital and costs incidental thereto, as well as the arrangement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:22.4974em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0335em;">of loans, the repayment of interest-bearing debt, payment of dividend to the Group's shareholders, and the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:23.2474em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">purchase and sale of treasury shares.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:24.7474em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">Cash flows denominated in currencies other than Danish kroner (DKK) are translated using average exchange  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:25.4974em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">rates, unless such rates deviate materially from the exchange rates applicable on the transaction date.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:9.2258em;"><span class="stl_418 stl_11 stl_176" style="word-spacing:-0.0256em;">3.7 Change in working capital  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3569em;top:10.4899em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6163em;top:10.4899em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0487em;"><span class="stl_287 stl_08 stl_267" style="word-spacing:-0.031em;">Change in inventories  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8038em;top:12.0487em;"><span class="stl_287 stl_08 stl_491">-252  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.132em;top:12.0487em;"><span class="stl_287 stl_08 stl_917">-170  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.9699em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">Change in receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.857em;top:12.9699em;"><span class="stl_287 stl_08 stl_573">-107  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.3645em;top:12.9699em;"><span class="stl_287 stl_08 stl_878">-40  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:13.8912em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0328em;">Change in payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3451em;top:13.8912em;"><span class="stl_287 stl_08 stl_161">86  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5957em;top:13.8912em;"><span class="stl_287 stl_08 stl_297">99  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:14.8049em;"><span class="stl_288 stl_11 stl_403" style="word-spacing:-0.0383em;">Change in working capital  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.672em;top:14.8049em;"><span class="stl_288 stl_11 stl_832">-273  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0382em;top:14.8049em;"><span class="stl_288 stl_11 stl_918">-111  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4491em;top:9.2256em;"><span class="stl_418 stl_11 stl_100" style="word-spacing:-0.0344em;">4.6 Cash flows from financial liabilities classified as financing activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.5174em;top:10.608em;"><span class="stl_288 stl_11 stl_471" style="word-spacing:-0.0432em;">Non-cash movements  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7889em;top:11.7892em;"><span class="stl_288 stl_11 stl_299">Adjust-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4486em;top:12.5468em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:50.7811em;top:12.5393em;"><span class="stl_288 stl_11 stl_219">30.09.24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.7624em;top:12.5393em;"><span class="stl_288 stl_11 stl_342" style="word-spacing:-0.0453em;">Cash flow  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.5199em;top:12.5393em;"><span class="stl_288 stl_11 stl_127">Additions</span><sup style="top: -0.2082em;"><span class="stl_295 stl_11 stl_542">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.857em;top:12.5392em;"><span class="stl_288 stl_11 stl_528">ments</span><sup style="top: -0.2081em;"><span class="stl_295 stl_11 stl_921">2  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.5015em;top:12.5392em;"><span class="stl_288 stl_11 stl_283">30.09.25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.449em;top:14.0979em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0403em;">Credit institutions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.4259em;top:14.0979em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:57.6777em;top:14.0979em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.4696em;top:14.0979em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8902em;top:14.0979em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9734em;top:14.0979em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4484em;top:15.0192em;"><span class="stl_287 stl_08 stl_169" style="word-spacing:-0.0334em;">Lease liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.5121em;top:15.0192em;"><span class="stl_287 stl_08 stl_112">558  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.9002em;top:15.0192em;"><span class="stl_287 stl_08 stl_878">-63  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.1027em;top:15.0192em;"><span class="stl_287 stl_08 stl_328">62  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.2196em;top:15.0192em;"><span class="stl_287 stl_08 stl_346">-15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2346em;top:15.0192em;"><span class="stl_287 stl_08 stl_188">542  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.3952em;top:15.9329em;"><span class="stl_288 stl_11 stl_12">558  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.8159em;top:15.9329em;"><span class="stl_288 stl_11 stl_727">-63  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.0502em;top:15.9329em;"><span class="stl_288 stl_11 stl_364">67  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.1315em;top:15.9329em;"><span class="stl_288 stl_11 stl_346">-15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1309em;top:15.9329em;"><span class="stl_288 stl_11 stl_325">547  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.5177em;top:18.6023em;"><span class="stl_288 stl_11 stl_471" style="word-spacing:-0.0432em;">Non-cash movements  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7888em;top:19.7837em;"><span class="stl_288 stl_11 stl_299">Adjust-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.449em;top:20.5411em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:50.784em;top:20.5336em;"><span class="stl_288 stl_11 stl_283">30.09.23  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.7634em;top:20.5336em;"><span class="stl_288 stl_11 stl_342" style="word-spacing:-0.0453em;">Cash flow  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.5209em;top:20.5336em;"><span class="stl_288 stl_11 stl_163">Additions</span><sup style="top: -0.208em;"><span class="stl_295 stl_11 stl_319">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.857em;top:20.5337em;"><span class="stl_288 stl_11 stl_528">ments</span><sup style="top: -0.2081em;"><span class="stl_295 stl_11 stl_921">2  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.4981em;top:20.5337em;"><span class="stl_288 stl_11 stl_219">30.09.24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4487em;top:22.0925em;"><span class="stl_287 stl_08 stl_169" style="word-spacing:-0.0334em;">Lease liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.5043em;top:22.0925em;"><span class="stl_287 stl_08 stl_139">584  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.9018em;top:22.0925em;"><span class="stl_287 stl_08 stl_718">-65  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.1043em;top:22.0925em;"><span class="stl_287 stl_08 stl_187">95  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.135em;top:22.0925em;"><span class="stl_287 stl_08 stl_47">-56  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2294em;top:22.0925em;"><span class="stl_287 stl_08 stl_112">558  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.3944em;top:23.0062em;"><span class="stl_288 stl_11 stl_112">584  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.8175em;top:23.0062em;"><span class="stl_288 stl_11 stl_30">-65  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.0294em;top:23.0062em;"><span class="stl_288 stl_11 stl_331">95  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0469em;top:23.0062em;"><span class="stl_288 stl_11 stl_31">-56  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1125em;top:23.0062em;"><span class="stl_288 stl_11 stl_12">558  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.4775em;"><span class="stl_390 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.9212em;top:24.439em;"><span class="stl_391 stl_08 stl_566" style="word-spacing:-0.0517em;">Additions includes raising from leases and credit institutions.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:25.0608em;"><span class="stl_390 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.9212em;top:25.0224em;"><span class="stl_391 stl_08 stl_617" style="word-spacing:-0.0536em;">Non-cash adjustments mainly relate to foreign currency translation.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:10.4899em;"><span class="stl_288 stl_11 stl_333" style="word-spacing:-0.047em;">Cash flow statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.2474em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">The cash flow statement has been prepared on the basis of the indirect method and shows the Group’s cash  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.9974em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">flows from operating, investing, and financing activities for the year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:13.4974em;"><span class="stl_287 stl_08 stl_294" style="word-spacing:-0.0407em;">Cash flows from operating activities are presented as the net profit adjusted for non-cash operating items,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.2474em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0357em;">working capital changes, as well as financial income received, and financial expenses, and net income taxes  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.9974em;"><span class="stl_287 stl_08 stl_150">paid.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:16.4974em;"><span class="stl_287 stl_08 stl_285" style="word-spacing:-0.0387em;">Cash flows from investing activities comprise payments in connection with acquisition of subsidiaries,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:17.2474em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0387em;">activities, and fixed and intangible asset investments, and proceeds from the sale of property, plant, and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:17.9974em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0373em;">equipment. In the parent financial statements, investing activities also include receipt of dividends from sub-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:18.7474em;"><span class="stl_287 stl_08 stl_161">sidiaries.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.2474em;"><span class="stl_287 stl_08 stl_47" style="word-spacing:-0.04em;">Leases are considered to be non-cash transactions. Cash flows relating to assets held under leases are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.9974em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.0371em;">recognized as payment of interest and repayment of debt. Cash flows from financing activities comprise  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:21.7474em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0353em;">changes in the size or composition of share capital and costs incidental thereto, as well as the arrangement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:22.4974em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0335em;">of loans, the repayment of interest-bearing debt, payment of dividend to the Group's shareholders, and the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:23.2474em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">purchase and sale of treasury shares.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:24.7474em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">Cash flows denominated in currencies other than Danish kroner (DKK) are translated using average exchange  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:25.4974em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">rates, unless such rates deviate materially from the exchange rates applicable on the transaction date.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.243em;"><span class="stl_438 stl_92 stl_528" style="word-spacing:-0.0443em;">Selling and distribution costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.9974em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">Selling and distribution costs comprise costs for sales staff, advertising and exhibitions, depreciation, impair-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.7474em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">ment, and operation of central warehouses, as well as all costs relating to the transport of goods from the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.4974em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">Group’s factories to the customers.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:9.2258em;"><span class="stl_418 stl_11 stl_96" style="word-spacing:-0.0484em;">2.3 Staff costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.5387em;"><span class="stl_287 stl_08 stl_31" style="word-spacing:-0.0419em;">The staff costs of the Group are distributed on the respective functions as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:11.9974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3569em;top:11.9899em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6163em;top:11.9899em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:13.5487em;"><span class="stl_287 stl_08 stl_632" style="word-spacing:-0.0442em;">Production costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9819em;top:13.5487em;"><span class="stl_287 stl_08 stl_188">487  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2969em;top:13.5487em;"><span class="stl_287 stl_08 stl_54">474  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.4699em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0387em;">Selling and distribution costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9988em;top:14.4699em;"><span class="stl_287 stl_08 stl_386">981  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2445em;top:14.4699em;"><span class="stl_287 stl_08 stl_57">869  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.3912em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">Research and development costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3576em;top:15.3912em;"><span class="stl_287 stl_08 stl_199">97  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6188em;top:15.3912em;"><span class="stl_287 stl_08 stl_71">81  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:16.3124em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0377em;">Management and administrative costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9951em;top:16.3124em;"><span class="stl_287 stl_08 stl_227">359  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2338em;top:16.3124em;"><span class="stl_287 stl_08 stl_208">339  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:17.2337em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8895em;top:17.2337em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.8101em;top:17.2337em;"><span class="stl_287 stl_08 stl_791">-1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:18.1474em;"><span class="stl_288 stl_11 stl_540" style="word-spacing:-0.0417em;">Total staff costs recognized in income statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.2963em;top:18.1474em;"><span class="stl_288 stl_11 stl_448">1,924  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5801em;top:18.1474em;"><span class="stl_288 stl_11 stl_368">1,762  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:19.588em;"><span class="stl_287 stl_08 stl_375" style="word-spacing:-0.0429em;">Staff costs included in intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0057em;top:19.588em;"><span class="stl_287 stl_08 stl_324">140  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2751em;top:19.588em;"><span class="stl_287 stl_08 stl_363">132  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:20.5093em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">Staff costs included in property, plant, and equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.7207em;top:20.5093em;"><span class="stl_287 stl_08 stl_25">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9726em;top:20.5093em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:21.423em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0463em;">Total staff costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.2382em;top:21.423em;"><span class="stl_288 stl_11 stl_78">2,068  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5363em;top:21.423em;"><span class="stl_288 stl_11 stl_833">1,897  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.4856em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0402em;">Staff costs are distributed between the Executive Management, the Board of Directors, and other employees  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2356em;"><span class="stl_287 stl_08 stl_46" style="word-spacing:-0.0308em;">as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.6943em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6877em;top:12.6868em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.947em;top:12.6868em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.2456em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">Remuneration, Executive Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6864em;top:14.2456em;"><span class="stl_287 stl_08 stl_189">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9352em;top:14.2456em;"><span class="stl_287 stl_08 stl_188">22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7802em;top:15.1668em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0527em;top:15.1668em;"><span class="stl_287 stl_08 stl_25">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3045em;top:15.1668em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.0881em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0327em;">Severance payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2208em;top:16.0881em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3039em;top:16.0881em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:17.0093em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0327em;">Severance pay, share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2202em;top:17.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3033em;top:17.0093em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:17.9231em;"><span class="stl_288 stl_11 stl_342" style="word-spacing:-0.0453em;">Staff costs, Executive Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6064em;top:17.9231em;"><span class="stl_288 stl_11 stl_189">26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8483em;top:17.9231em;"><span class="stl_288 stl_11 stl_155">33  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:19.3637em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">Wages and salaries  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8345em;top:19.3637em;"><span class="stl_287 stl_08 stl_250">1,775  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.032em;top:19.3637em;"><span class="stl_287 stl_08 stl_215">1,630  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:20.285em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0329em;">Pension contributions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3233em;top:20.285em;"><span class="stl_287 stl_08 stl_09">104  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9401em;top:20.285em;"><span class="stl_287 stl_08 stl_331">91  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:21.2062em;"><span class="stl_287 stl_08 stl_733" style="word-spacing:-0.0471em;">Social security costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3645em;top:21.2062em;"><span class="stl_287 stl_08 stl_365">131  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6533em;top:21.2062em;"><span class="stl_287 stl_08 stl_388">116  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:22.1275em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6839em;top:22.1275em;"><span class="stl_287 stl_08 stl_189">25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9364em;top:22.1275em;"><span class="stl_287 stl_08 stl_187">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:23.0487em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.0379em;">Remuneration, Board of Directors  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0502em;top:23.0487em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.302em;top:23.0487em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:23.9625em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0463em;">Total staff costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5676em;top:23.9625em;"><span class="stl_288 stl_11 stl_78">2,068  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8658em;top:23.9625em;"><span class="stl_288 stl_11 stl_383">1,897  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:25.4031em;"><span class="stl_287 stl_08 stl_146" style="word-spacing:-0.0321em;">Average number of employees during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.757em;top:25.4031em;"><span class="stl_287 stl_08 stl_61">5,233  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.0295em;top:25.4031em;"><span class="stl_287 stl_08 stl_188">4,894  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:26.3243em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0337em;">Number of full-time employees at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.7439em;top:26.3243em;"><span class="stl_287 stl_08 stl_309">5,384  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.122em;top:26.3243em;"><span class="stl_287 stl_08 stl_821">5,196  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:27.7937em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">Remuneration to the Executive Management and the Board of Directors totaled DKK 33m (DKK 40m).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:29.2862em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:30.0437em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">Staff costs comprise remuneration, wages and salaries, pension contributions, etc., and share-based pay-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:30.7937em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0363em;">ment to the company’s employees, incl. termination benefits. The Group has no defined benefit plans.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4491em;top:9.2256em;"><span class="stl_418 stl_11 stl_139" style="word-spacing:-0.0349em;">2.4 Depreciation, amortization, and impairment losses on non-current assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3569em;top:10.4899em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6163em;top:10.4899em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0487em;"><span class="stl_287 stl_08 stl_412" style="word-spacing:-0.0407em;">Amortization of intangible assets, identified in connection with business  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.7987em;"><span class="stl_287 stl_08 stl_79">combinations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3663em;top:12.7987em;"><span class="stl_287 stl_08 stl_63">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6488em;top:12.7987em;"><span class="stl_287 stl_08 stl_388">61  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:13.7199em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">Amortization of intangible development projects and other, incl. IT software  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0132em;top:13.7199em;"><span class="stl_287 stl_08 stl_435">182  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2551em;top:13.7199em;"><span class="stl_287 stl_08 stl_29">154  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:14.6412em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">Depreciation of property, plant, and equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3538em;top:14.6412em;"><span class="stl_287 stl_08 stl_55">82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6188em;top:14.6412em;"><span class="stl_287 stl_08 stl_435">75  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:15.5624em;"><span class="stl_287 stl_08 stl_285" style="word-spacing:-0.0387em;">Depreciation of right-of-use assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3676em;top:15.5624em;"><span class="stl_287 stl_08 stl_28">69  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5926em;top:15.5624em;"><span class="stl_287 stl_08 stl_432">65  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:16.4837em;"><span class="stl_287 stl_08 stl_344" style="word-spacing:-0.0424em;">Net loss on disposed non-current assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.7207em;top:16.4837em;"><span class="stl_287 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9726em;top:16.4837em;"><span class="stl_287 stl_08 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:17.4049em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0414em;">Impairment losses on non-current assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8888em;top:17.4049em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2207em;top:17.4049em;"><span class="stl_287 stl_08 stl_155">333  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:18.3187em;"><span class="stl_288 stl_11 stl_292" style="word-spacing:-0.0387em;">Total depreciation, amortization, and impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8813em;top:18.3187em;"><span class="stl_288 stl_11 stl_77">372  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.132em;top:18.3187em;"><span class="stl_288 stl_11 stl_381">696  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:19.7955em;"><span class="stl_287 stl_08 stl_23" style="word-spacing:-0.0301em;">In 2023/24, DKK 327m of the total impairment losses on non-current assets of DKK 333m relates to an impair-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:20.5455em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0372em;">ment of GI technologies, reflecting the longer time required to penetrate the market. The impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:21.2955em;"><span class="stl_287 stl_08 stl_158" style="word-spacing:-0.0269em;">are charged to 'special items'. Please refer to note 2.6.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:22.7955em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">Depreciation, amortization, and impairment losses have been allocated to the following functions:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.2544em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3569em;top:24.2469em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6163em;top:24.2469em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:25.8056em;"><span class="stl_287 stl_08 stl_632" style="word-spacing:-0.0442em;">Production costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3413em;top:25.8056em;"><span class="stl_287 stl_08 stl_432">85  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5913em;top:25.8056em;"><span class="stl_287 stl_08 stl_416">84  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.7269em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0387em;">Selling and distribution costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.362em;top:26.7269em;"><span class="stl_287 stl_08 stl_77">27  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6038em;top:26.7269em;"><span class="stl_287 stl_08 stl_188">22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.6481em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">Research and development costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0213em;top:27.6481em;"><span class="stl_287 stl_08 stl_308">210  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2732em;top:27.6481em;"><span class="stl_287 stl_08 stl_308">210  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.5694em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0377em;">Management and administrative costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3513em;top:28.5694em;"><span class="stl_287 stl_08 stl_137">50  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5938em;top:28.5694em;"><span class="stl_287 stl_08 stl_322">48  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:29.4906em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8901em;top:29.4906em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2357em;top:29.4906em;"><span class="stl_287 stl_08 stl_32">332  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:30.4044em;"><span class="stl_288 stl_11 stl_292" style="word-spacing:-0.0387em;">Total depreciation, amortization, and impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8826em;top:30.4044em;"><span class="stl_288 stl_11 stl_77">372  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1332em;top:30.4044em;"><span class="stl_288 stl_11 stl_381">696  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:31.8737em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:32.6312em;"><span class="stl_287 stl_08 stl_78" style="word-spacing:-0.028em;">For a description of accounting policies, reference is made to notes 3.1, 3.2, and 3.3.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.993em;"><span class="stl_438 stl_92 stl_309" style="word-spacing:-0.041em;">Research and development costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.7474em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">Research and development costs comprise salaries and costs which, directly or indirectly, can be attributed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.4974em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0372em;">to product improvements and the development of new products which do not meet the criteria for capitaliza-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.2474em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0363em;">tion of an internally generated development project. In addition, the amortization and impairment of capital-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.9974em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">ised development costs and rights and acquired technologies are recognized.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:9.2258em;"><span class="stl_418 stl_11 stl_96" style="word-spacing:-0.0484em;">2.3 Staff costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.5387em;"><span class="stl_287 stl_08 stl_31" style="word-spacing:-0.0419em;">The staff costs of the Group are distributed on the respective functions as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:11.9974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3569em;top:11.9899em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6163em;top:11.9899em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:13.5487em;"><span class="stl_287 stl_08 stl_632" style="word-spacing:-0.0442em;">Production costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9819em;top:13.5487em;"><span class="stl_287 stl_08 stl_188">487  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2969em;top:13.5487em;"><span class="stl_287 stl_08 stl_54">474  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.4699em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0387em;">Selling and distribution costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9988em;top:14.4699em;"><span class="stl_287 stl_08 stl_386">981  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2445em;top:14.4699em;"><span class="stl_287 stl_08 stl_57">869  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.3912em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">Research and development costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3576em;top:15.3912em;"><span class="stl_287 stl_08 stl_199">97  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6188em;top:15.3912em;"><span class="stl_287 stl_08 stl_71">81  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:16.3124em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0377em;">Management and administrative costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9951em;top:16.3124em;"><span class="stl_287 stl_08 stl_227">359  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2338em;top:16.3124em;"><span class="stl_287 stl_08 stl_208">339  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:17.2337em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8895em;top:17.2337em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.8101em;top:17.2337em;"><span class="stl_287 stl_08 stl_791">-1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:18.1474em;"><span class="stl_288 stl_11 stl_540" style="word-spacing:-0.0417em;">Total staff costs recognized in income statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.2963em;top:18.1474em;"><span class="stl_288 stl_11 stl_448">1,924  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5801em;top:18.1474em;"><span class="stl_288 stl_11 stl_368">1,762  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:19.588em;"><span class="stl_287 stl_08 stl_375" style="word-spacing:-0.0429em;">Staff costs included in intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0057em;top:19.588em;"><span class="stl_287 stl_08 stl_324">140  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2751em;top:19.588em;"><span class="stl_287 stl_08 stl_363">132  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:20.5093em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">Staff costs included in property, plant, and equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.7207em;top:20.5093em;"><span class="stl_287 stl_08 stl_25">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9726em;top:20.5093em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:21.423em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0463em;">Total staff costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.2382em;top:21.423em;"><span class="stl_288 stl_11 stl_78">2,068  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5363em;top:21.423em;"><span class="stl_288 stl_11 stl_833">1,897  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.4856em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0402em;">Staff costs are distributed between the Executive Management, the Board of Directors, and other employees  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2356em;"><span class="stl_287 stl_08 stl_46" style="word-spacing:-0.0308em;">as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.6943em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6877em;top:12.6868em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.947em;top:12.6868em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.2456em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">Remuneration, Executive Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6864em;top:14.2456em;"><span class="stl_287 stl_08 stl_189">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9352em;top:14.2456em;"><span class="stl_287 stl_08 stl_188">22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7802em;top:15.1668em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0527em;top:15.1668em;"><span class="stl_287 stl_08 stl_25">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3045em;top:15.1668em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.0881em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0327em;">Severance payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2208em;top:16.0881em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3039em;top:16.0881em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:17.0093em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0327em;">Severance pay, share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2202em;top:17.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3033em;top:17.0093em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:17.9231em;"><span class="stl_288 stl_11 stl_342" style="word-spacing:-0.0453em;">Staff costs, Executive Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6064em;top:17.9231em;"><span class="stl_288 stl_11 stl_189">26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8483em;top:17.9231em;"><span class="stl_288 stl_11 stl_155">33  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:19.3637em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">Wages and salaries  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8345em;top:19.3637em;"><span class="stl_287 stl_08 stl_250">1,775  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.032em;top:19.3637em;"><span class="stl_287 stl_08 stl_215">1,630  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:20.285em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0329em;">Pension contributions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3233em;top:20.285em;"><span class="stl_287 stl_08 stl_09">104  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9401em;top:20.285em;"><span class="stl_287 stl_08 stl_331">91  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:21.2062em;"><span class="stl_287 stl_08 stl_733" style="word-spacing:-0.0471em;">Social security costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3645em;top:21.2062em;"><span class="stl_287 stl_08 stl_365">131  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6533em;top:21.2062em;"><span class="stl_287 stl_08 stl_388">116  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:22.1275em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6839em;top:22.1275em;"><span class="stl_287 stl_08 stl_189">25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9364em;top:22.1275em;"><span class="stl_287 stl_08 stl_187">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:23.0487em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.0379em;">Remuneration, Board of Directors  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0502em;top:23.0487em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.302em;top:23.0487em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:23.9625em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0463em;">Total staff costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5676em;top:23.9625em;"><span class="stl_288 stl_11 stl_78">2,068  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8658em;top:23.9625em;"><span class="stl_288 stl_11 stl_383">1,897  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:25.4031em;"><span class="stl_287 stl_08 stl_146" style="word-spacing:-0.0321em;">Average number of employees during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.757em;top:25.4031em;"><span class="stl_287 stl_08 stl_61">5,233  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.0295em;top:25.4031em;"><span class="stl_287 stl_08 stl_188">4,894  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:26.3243em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0337em;">Number of full-time employees at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.7439em;top:26.3243em;"><span class="stl_287 stl_08 stl_309">5,384  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.122em;top:26.3243em;"><span class="stl_287 stl_08 stl_821">5,196  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:27.7937em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">Remuneration to the Executive Management and the Board of Directors totaled DKK 33m (DKK 40m).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:29.2862em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:30.0437em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">Staff costs comprise remuneration, wages and salaries, pension contributions, etc., and share-based pay-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:30.7937em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0363em;">ment to the company’s employees, incl. termination benefits. The Group has no defined benefit plans.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4491em;top:9.2256em;"><span class="stl_418 stl_11 stl_139" style="word-spacing:-0.0349em;">2.4 Depreciation, amortization, and impairment losses on non-current assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3569em;top:10.4899em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6163em;top:10.4899em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0487em;"><span class="stl_287 stl_08 stl_412" style="word-spacing:-0.0407em;">Amortization of intangible assets, identified in connection with business  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.7987em;"><span class="stl_287 stl_08 stl_79">combinations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3663em;top:12.7987em;"><span class="stl_287 stl_08 stl_63">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6488em;top:12.7987em;"><span class="stl_287 stl_08 stl_388">61  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:13.7199em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">Amortization of intangible development projects and other, incl. IT software  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0132em;top:13.7199em;"><span class="stl_287 stl_08 stl_435">182  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2551em;top:13.7199em;"><span class="stl_287 stl_08 stl_29">154  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:14.6412em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">Depreciation of property, plant, and equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3538em;top:14.6412em;"><span class="stl_287 stl_08 stl_55">82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6188em;top:14.6412em;"><span class="stl_287 stl_08 stl_435">75  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:15.5624em;"><span class="stl_287 stl_08 stl_285" style="word-spacing:-0.0387em;">Depreciation of right-of-use assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3676em;top:15.5624em;"><span class="stl_287 stl_08 stl_28">69  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5926em;top:15.5624em;"><span class="stl_287 stl_08 stl_432">65  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:16.4837em;"><span class="stl_287 stl_08 stl_344" style="word-spacing:-0.0424em;">Net loss on disposed non-current assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.7207em;top:16.4837em;"><span class="stl_287 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9726em;top:16.4837em;"><span class="stl_287 stl_08 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:17.4049em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0414em;">Impairment losses on non-current assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8888em;top:17.4049em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2207em;top:17.4049em;"><span class="stl_287 stl_08 stl_155">333  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:18.3187em;"><span class="stl_288 stl_11 stl_292" style="word-spacing:-0.0387em;">Total depreciation, amortization, and impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8813em;top:18.3187em;"><span class="stl_288 stl_11 stl_77">372  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.132em;top:18.3187em;"><span class="stl_288 stl_11 stl_381">696  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:19.7955em;"><span class="stl_287 stl_08 stl_23" style="word-spacing:-0.0301em;">In 2023/24, DKK 327m of the total impairment losses on non-current assets of DKK 333m relates to an impair-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:20.5455em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0372em;">ment of GI technologies, reflecting the longer time required to penetrate the market. The impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:21.2955em;"><span class="stl_287 stl_08 stl_158" style="word-spacing:-0.0269em;">are charged to 'special items'. Please refer to note 2.6.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:22.7955em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">Depreciation, amortization, and impairment losses have been allocated to the following functions:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.2544em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3569em;top:24.2469em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6163em;top:24.2469em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:25.8056em;"><span class="stl_287 stl_08 stl_632" style="word-spacing:-0.0442em;">Production costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3413em;top:25.8056em;"><span class="stl_287 stl_08 stl_432">85  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5913em;top:25.8056em;"><span class="stl_287 stl_08 stl_416">84  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.7269em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0387em;">Selling and distribution costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.362em;top:26.7269em;"><span class="stl_287 stl_08 stl_77">27  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6038em;top:26.7269em;"><span class="stl_287 stl_08 stl_188">22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.6481em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">Research and development costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0213em;top:27.6481em;"><span class="stl_287 stl_08 stl_308">210  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2732em;top:27.6481em;"><span class="stl_287 stl_08 stl_308">210  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.5694em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0377em;">Management and administrative costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3513em;top:28.5694em;"><span class="stl_287 stl_08 stl_137">50  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5938em;top:28.5694em;"><span class="stl_287 stl_08 stl_322">48  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:29.4906em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8901em;top:29.4906em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2357em;top:29.4906em;"><span class="stl_287 stl_08 stl_32">332  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:30.4044em;"><span class="stl_288 stl_11 stl_292" style="word-spacing:-0.0387em;">Total depreciation, amortization, and impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8826em;top:30.4044em;"><span class="stl_288 stl_11 stl_77">372  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1332em;top:30.4044em;"><span class="stl_288 stl_11 stl_381">696  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:31.8737em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:32.6312em;"><span class="stl_287 stl_08 stl_78" style="word-spacing:-0.028em;">For a description of accounting policies, reference is made to notes 3.1, 3.2, and 3.3.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:10.478em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.2355em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0357em;">On recognition, goodwill represents the excess cost of an acquisition over the fair value of the identifiable net  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.9855em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0326em;">assets of the acquired company. Subsequently, goodwill is measured at cost less accumulated impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:12.7355em;"><span class="stl_287 stl_08 stl_294" style="word-spacing:-0.0406em;">losses. Goodwill is not amortized.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.2355em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">At the time of acquisition, goodwill is attributed to the cash-generating units which are expected to benefit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.9855em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.0301em;">from the business combination; however, not to a level lower than the segment level and the level at which  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:15.7355em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">goodwill is monitored as part of the internal financial management. The Management has identified one  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:16.4855em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0353em;">operating segment as being the whole Group to which goodwill is allocated.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:17.9855em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0389em;">The carrying amount of goodwill is tested for impairment together with the other non-current assets of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:18.7355em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0341em;">cash-generating unit to which goodwill has been allocated (being the whole Group) and is impaired to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:19.4855em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0339em;">recoverable amount in the income statement if the carrying amount is higher. Impairment of goodwill is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.2355em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0367em;">recognized as a separate item in the income statement. Goodwill is tested annually for impairment, the first  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.9855em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0347em;">time being by the end of the year of recognition in connection with a business combination.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:22.4855em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">The impairment test of goodwill is based on the quoted price on Nasdaq Copenhagen at the balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:23.2355em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0331em;">date. Therefore the impairment test is taking base in level 1 in accordance with the fair value hierarchy.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:24.7355em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">Impairment of goodwill is not reversed. Impairment of other assets is reversed in so far as the assumptions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:25.4855em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">and estimates on the basis of which the impairment is made have been changed. Impairments are only  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.2355em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">reversed in so far as the new carrying amount of the asset does not exceed the carrying amount of the asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.9855em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">after amortization, had the asset not been impaired.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:9.965em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0353em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:10.7225em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Acquired technologies, trademarks, and customer relations, primarily  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:11.4725em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">comprising identified technologies, are recognized at fair value at the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:12.2225em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">time of acquisition in connection with a business combination. Any  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:12.9725em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">other intangible asset is recognized at cost.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:14.4725em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">Development and IT projects are recognized as intangible assets if  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:15.2225em;"><span class="stl_287 stl_08 stl_31" style="word-spacing:-0.042em;">they meet certain criteria. These projects must be clearly defined and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:15.9725em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0376em;">identifiable, with proven technical feasibility and sufficient resources  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:16.7225em;"><span class="stl_287 stl_08 stl_150" style="word-spacing:-0.0297em;">available for completion. Additionally, there should be a potential mar-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:17.4725em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0351em;">ket or scope for the project, and the Group must intend to produce,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:18.2225em;"><span class="stl_287 stl_08 stl_309" style="word-spacing:-0.0411em;">market, or use the project. The directly attributable cost should be  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:18.9725em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0377em;">reliably measurable, and there must be certainty that future earnings  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:19.7225em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0349em;">or the net selling price will cover all costs.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:21.215em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0418em;">Useful lifetime and residual value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:21.9725em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">Intangible assets, excl. goodwill, are amortized according to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:22.7225em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">straight-line method over the expected useful lifetime of the indi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:23.4725em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0384em;">vidual asset. The residual value for all intangible assets is assessed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:24.2225em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0363em;">as zero. The amortization of the intangible asset commences upon  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:24.9725em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0375em;">completion of the project or when the asset is ready for use. The basis  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:25.7225em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">of amortization is reduced by impairment losses, if any. The useful  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:26.4725em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">life of the asset may subsequently be changed if the original assump-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:27.2225em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0328em;">tions on which the useful life and any residual value are based have  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:27.9725em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0333em;">changed significantly.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:29.4725em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">The expected useful lifetimes of intangible assets are as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:30.9725em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.034em;">Acquired technologies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8245em;top:30.9725em;"><span class="stl_287 stl_08 stl_866">5</span><span class="stl_287 stl_08 stl_302">-</span><span class="stl_287 stl_08 stl_105" style="word-spacing:-0.0152em;">15 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:31.7225em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">Completed development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8189em;top:31.7225em;"><span class="stl_287 stl_08 stl_866">5</span><span class="stl_287 stl_08 stl_302">-</span><span class="stl_287 stl_08 stl_140" style="word-spacing:-0.0188em;">10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:32.4725em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">Distribution rights, patents, and licenses, etc.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.7689em;top:32.4725em;"><span class="stl_287 stl_08 stl_37" style="word-spacing:-0.0311em;">5-20 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:33.2225em;"><span class="stl_287 stl_08 stl_521" style="word-spacing:-0.0528em;">IT software projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.1158em;top:33.2225em;"><span class="stl_287 stl_08 stl_322" style="word-spacing:-0.046em;">3-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:10.4781em;"><span class="stl_288 stl_11 stl_344" style="word-spacing:-0.0424em;">Sensitivity analysis for the impairment test of the GI technologies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.2356em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0379em;">The sensitivity analysis assesses the impact of changes in key assumptions of the result of the impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.9856em;"><span class="stl_287 stl_08 stl_98">test.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:13.4856em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">The ‘relief from royalty’ method estimates the discounted value of an intangible asset determined by the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.2356em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0397em;">expected royalty payments to a third party to be saved by owning the respective asset instead of licensing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.9856em;"><span class="stl_287 stl_08 stl_285" style="word-spacing:-0.0388em;">the respective asset. When applying the ‘relief from royalty’ method in the impairment test for the GI techno-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:15.7356em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">logies, the fair value is measured over the useful lifetime of the individual assets and by applying the main key  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:16.4856em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0357em;">assumptions as revenue, royalty rate, and pre-tax discount rate.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:17.9856em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0361em;">Useful lifetime for GI technologies is 15 years from FDA approval of the first product generation, also corre-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:18.7356em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">sponding to the budgeted period used in the impairment test.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.2356em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0367em;">The sensitivity shown for revenue is the amount of decrease in headroom, when reducing the expected reve-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.9856em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0369em;">nue in all budgeted years by 5 percentage points, everything else kept equal.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:22.4856em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">The sensitivity shown for royalty rate is the amount of decrease in headroom, when reducing the applied roy-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:23.2356em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0401em;">alty rate by 5 percentage points, everything else kept equal.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:24.7356em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">The sensitivity shown for pre-tax discount rate is the amount of decrease in headroom, when increasing the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:25.4856em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">applied pre-tax discount rate by 1 percentage point, everything else kept equal.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.9368em;"><span class="stl_288 stl_11 stl_298" style="word-spacing:-0.0373em;">Key assumptions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5357em;top:26.9368em;"><span class="stl_288 stl_11 stl_245">Description  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.4956em;"><span class="stl_287 stl_08 stl_101">Revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5357em;top:28.4956em;"><span class="stl_287 stl_08 stl_119" style="word-spacing:0.225em;">• Revenue</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:49.883em;top:28.4956em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0365em;">in the budgeted period is based on a combination of expected quantities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:29.2456em;"><span class="stl_287 stl_08 stl_111">(CAGR)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.1607em;top:29.2456em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">sold and the average selling price, together with a 15 years of survival curve for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.1607em;top:29.9956em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0331em;">each technology, commencing upon first FDA approval  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:31.1768em;"><span class="stl_287 stl_08 stl_394" style="word-spacing:-0.0418em;">Royalty rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5357em;top:31.1768em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:0.2085em;">• Based</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:49.177em;top:31.1768em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0395em;">on an expected royalty rate paid to an independent third party to license the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.1607em;top:31.9268em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0353em;">individual technology  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:33.1081em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0365em;">Discounted rates  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5357em;top:33.1081em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:0.2085em;">• Based</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:49.177em;top:33.1081em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0338em;">on 20-year government bonds  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:33.8581em;"><span class="stl_287 stl_08 stl_109" style="word-spacing:-0.0229em;">(net of tax)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5357em;top:33.8581em;"><span class="stl_287 stl_08 stl_375" style="word-spacing:0.2072em;">• Equity</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:49.188em;top:33.8581em;"><span class="stl_287 stl_08 stl_87" style="word-spacing:-0.0058em;">risk premium: 8.3% (8.1%)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5357em;top:34.6081em;"><span class="stl_287 stl_08 stl_119" style="word-spacing:0.225em;">• Premium</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:50.032em;top:34.6081em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0375em;">added to adjust for variability and associated risks of the in-market and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.1607em;top:35.3581em;"><span class="stl_287 stl_08 stl_207" style="word-spacing:-0.0413em;">pipeline products  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5312em;"><span class="stl_288 stl_11 stl_375" style="word-spacing:-0.0429em;">Result of impairment testing of other intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2887em;"><span class="stl_871 stl_651 stl_35" style="word-spacing:-0.0328em;">Result of impairment testing of the GI technologies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0387em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">The impairment test of the GI technologies is covering the assets categories ‘Acquired technologies, trade-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.7887em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">marks and cust. relations’, ‘Completed development projects’ and ‘Development projects and other assets in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.5387em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0328em;">progress’. The impairment test of the GI technologies covers approximately a third of the total other intangi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.2887em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">ble assets for the group.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.7887em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">In accordance with the group accounting policy for impairment testing of other intangible assets, both fair  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.5387em;"><span class="stl_287 stl_08 stl_169" style="word-spacing:-0.0333em;">value and value in use were evaluated as part of the 2024/25 impairment test of the GI technologies. The  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.2887em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0375em;">assessment confirmed that the fair value represents the recoverable amount of the assets. The impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.0387em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0344em;">test concluded that there are no indications for further impairment, nor any basis for reversing the impair-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.7887em;"><span class="stl_287 stl_08 stl_101" style="word-spacing:-0.0246em;">ment loss recognized in 2023/24.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.2887em;"><span class="stl_287 stl_08 stl_18" style="word-spacing:-0.0308em;">In 2023/24, an impairment loss of DKK 327m on Acquired technologies and completed development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.0387em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">was recognised, following the strategic review across our GI endoscopy business. The impairment loss was  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.7887em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">charged to special items, as described in note 2.6.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.2887em;"><span class="stl_871 stl_651 stl_45" style="word-spacing:-0.0331em;">Result of impairment testing of other intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.0387em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0372em;">The impairment test of other intangible assets is covering the remaining part of ‘Development projects and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.7887em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">other assets in progress’ in scope for annual impairment testing.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.2887em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">The impairment tests of other intangible assets, 2024/25, did not result in recognition of impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.0387em;"><span class="stl_287 stl_08 stl_36" style="word-spacing:-0.0185em;">(2023/24: no impairment losses).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.5387em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0377em;">No sensitivity analysis has been made for the impairment test of other intangible assets as the impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:29.2887em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">test shows a clear result of no need for recognition of impairment losses.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5652em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.3183em;"><span class="stl_438 stl_92 stl_471" style="word-spacing:-0.0432em;">Impairment testing of other intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0727em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">At each reporting date, the Management performs an assessment of whether internal or external indications  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.8227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0359em;">of impairment of the identified intangible assets exist. If there is any indication of impairment, an impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.5727em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0373em;">test is carried out. If an indication of impairment exists, the recoverable amount of the asset is determined,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.3227em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">i.e. the higher of the fair value of the asset, less anticipated costs of disposal and its value-in-use. For assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.0727em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">that are either fully or partially impaired, both their fair value and value-in-use are assessed to verify whether  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.8227em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">the impairment remains and to determine if further impairment, or a reversal of previously recorded impair-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.5727em;"><span class="stl_287 stl_08 stl_412" style="word-spacing:-0.0407em;">ment losses, is necessary.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.0727em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0345em;">Reversals of previously recognized impairment losses are only recorded when there is a change in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.8227em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0367em;">assumptions for the original impairment. This includes changes in expected future cash flows or the discount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.5727em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">rate, in the case of value-in-use, or an increase in fair value, reflecting a genuine improvement of the asset’s  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.3227em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0332em;">recoverable amount, excluding changes solely due to the passage of time.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.8227em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">Development projects in progress, either acquired or internally generated, are tested for impairment mini-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.5727em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">mum on an annual basis and if there is any indication of impairment. For completed development projects, it  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.3227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">is continuously assessed whether there is any indication of impairment.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.8227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">Impairment tests are either carried out by calculating the value in use, by using a discounted cashflow model,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.5727em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0363em;">or by calculating the fair value, depending on the type of intangible asset. If the initial impairment test shows  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.3227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">a calculated amount lower than the carrying value of the asset, both fair value and value in use are calculated,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.0727em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0339em;">and an impairment loss is recognized at the higher amount of either fair value or value in use if both calcu-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.8227em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0381em;">lated values are below the carrying amount of the asset. The impairment assessment, and the possible fol-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.5727em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.0379em;">lowing impairment test, is carried out per individual asset.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:10.4781em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:11.2356em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">Land and buildings, plant and machinery, and other plant, fixtures  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:11.9856em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0375em;">and fittings, tools and equipment are measured at cost less accu-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:12.7356em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">mulated depreciation and impairment losses. Cost comprises the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:13.4856em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0381em;">acquisition price and any costs directly attributable to the acquisition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:14.2356em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">until the date when the asset is ready for use. The cost of a total asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:14.9856em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">is divided into separate elements which are depreciated individually  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:15.7356em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">when the useful lives of the individual elements differ.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:17.2312em;"><span class="stl_438 stl_92 stl_207" style="word-spacing:-0.0409em;">Useful lifetime and residual value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:17.9856em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">The basis of depreciation is calculated in consideration of the resi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:18.7356em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0328em;">dual value of the asset and is reduced by impairment losses, if any.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:19.4856em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">The residual value is fixed at the date of acquisition and is subject to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:20.2356em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0336em;">annual review. When the residual value exceeds the carrying amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:20.9856em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0365em;">of the asset, depreciation will no longer take place. In connection with  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:21.7356em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">changes in the depreciation period or the residual value, the effect  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:22.4856em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0324em;">of depreciation is recognized in future as a change in the accounting  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:23.2356em;"><span class="stl_287 stl_08 stl_39">estimate.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:24.7356em;"><span class="stl_287 stl_08 stl_47" style="word-spacing:-0.0399em;">The carrying amount of property, plant, and equipment is assessed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:25.4856em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">on an annual basis to establish whether there is any indication of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:26.2356em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">impairment. When such indication exists, an impairment test is per-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:26.9856em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">formed. An impairment loss is recognized when the carrying amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:27.7356em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">of an asset exceeds the recoverable amount of the asset.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:29.2356em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0337em;">Property, plant, and equipment are depreciated according to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:29.9856em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.0369em;">straight-line method over the expected useful lives of the assets/com-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:30.7356em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0367em;">ponents, as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:32.2356em;"><span class="stl_287 stl_08 stl_146">Buildings  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.9361em;top:32.2356em;"><span class="stl_287 stl_08 stl_97" style="word-spacing:-0.0423em;">10-40 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:32.9856em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0349em;">Building installations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.9405em;top:32.9856em;"><span class="stl_287 stl_08 stl_137" style="word-spacing:-0.018em;">10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:33.7356em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">Plant and machinery  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.4268em;top:33.7356em;"><span class="stl_287 stl_08 stl_502" style="word-spacing:0.0089em;">2-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:34.4856em;"><span class="stl_287 stl_08 stl_309" style="word-spacing:-0.041em;">Other fixtures and equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.6849em;top:34.4856em;"><span class="stl_287 stl_08 stl_322" style="word-spacing:-0.046em;">3-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:35.9856em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">Land is not depreciated.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:37.4856em;"><span class="stl_287 stl_08 stl_176" style="word-spacing:-0.0355em;">Depreciation is recognized in the income statement under production  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:38.2356em;"><span class="stl_287 stl_08 stl_267" style="word-spacing:-0.041em;">costs, selling, and distribution costs, development costs, or manage-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:38.9856em;"><span class="stl_287 stl_08 stl_110" style="word-spacing:-0.0342em;">ment and administrative expenses, as appropriate. See note 2.4.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.993em;"><span class="stl_438 stl_92 stl_309" style="word-spacing:-0.041em;">Research and development costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.7474em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">Research and development costs comprise salaries and costs which, directly or indirectly, can be attributed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.4974em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0372em;">to product improvements and the development of new products which do not meet the criteria for capitaliza-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.2474em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0363em;">tion of an internally generated development project. In addition, the amortization and impairment of capital-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.9974em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">ised development costs and rights and acquired technologies are recognized.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:29.2862em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:30.0437em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">Staff costs comprise remuneration, wages and salaries, pension contributions, etc., and share-based pay-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:30.7937em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0363em;">ment to the company’s employees, incl. termination benefits. The Group has no defined benefit plans.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:31.8737em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:32.6312em;"><span class="stl_287 stl_08 stl_78" style="word-spacing:-0.028em;">For a description of accounting policies, reference is made to notes 3.1, 3.2, and 3.3.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.493em;"><span class="stl_438 stl_92 stl_347" style="word-spacing:-0.0434em;">Management and administrative costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:29.2474em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0367em;">Administrative costs comprise expenses incurred for management and administration, including expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:29.9974em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">for the administrative staff, office premises, office expenses, and IT, as well as amortization and impairment,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:30.7474em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">and depreciation of leases.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:9.2258em;"><span class="stl_418 stl_11 stl_96" style="word-spacing:-0.0484em;">2.3 Staff costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.5387em;"><span class="stl_287 stl_08 stl_31" style="word-spacing:-0.0419em;">The staff costs of the Group are distributed on the respective functions as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:11.9974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3569em;top:11.9899em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6163em;top:11.9899em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:13.5487em;"><span class="stl_287 stl_08 stl_632" style="word-spacing:-0.0442em;">Production costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9819em;top:13.5487em;"><span class="stl_287 stl_08 stl_188">487  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2969em;top:13.5487em;"><span class="stl_287 stl_08 stl_54">474  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.4699em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0387em;">Selling and distribution costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9988em;top:14.4699em;"><span class="stl_287 stl_08 stl_386">981  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2445em;top:14.4699em;"><span class="stl_287 stl_08 stl_57">869  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.3912em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">Research and development costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3576em;top:15.3912em;"><span class="stl_287 stl_08 stl_199">97  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6188em;top:15.3912em;"><span class="stl_287 stl_08 stl_71">81  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:16.3124em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0377em;">Management and administrative costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9951em;top:16.3124em;"><span class="stl_287 stl_08 stl_227">359  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2338em;top:16.3124em;"><span class="stl_287 stl_08 stl_208">339  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:17.2337em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8895em;top:17.2337em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.8101em;top:17.2337em;"><span class="stl_287 stl_08 stl_791">-1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:18.1474em;"><span class="stl_288 stl_11 stl_540" style="word-spacing:-0.0417em;">Total staff costs recognized in income statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.2963em;top:18.1474em;"><span class="stl_288 stl_11 stl_448">1,924  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5801em;top:18.1474em;"><span class="stl_288 stl_11 stl_368">1,762  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:19.588em;"><span class="stl_287 stl_08 stl_375" style="word-spacing:-0.0429em;">Staff costs included in intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0057em;top:19.588em;"><span class="stl_287 stl_08 stl_324">140  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2751em;top:19.588em;"><span class="stl_287 stl_08 stl_363">132  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:20.5093em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">Staff costs included in property, plant, and equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.7207em;top:20.5093em;"><span class="stl_287 stl_08 stl_25">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9726em;top:20.5093em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:21.423em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0463em;">Total staff costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.2382em;top:21.423em;"><span class="stl_288 stl_11 stl_78">2,068  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5363em;top:21.423em;"><span class="stl_288 stl_11 stl_833">1,897  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.4856em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0402em;">Staff costs are distributed between the Executive Management, the Board of Directors, and other employees  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2356em;"><span class="stl_287 stl_08 stl_46" style="word-spacing:-0.0308em;">as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.6943em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6877em;top:12.6868em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.947em;top:12.6868em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.2456em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">Remuneration, Executive Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6864em;top:14.2456em;"><span class="stl_287 stl_08 stl_189">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9352em;top:14.2456em;"><span class="stl_287 stl_08 stl_188">22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7802em;top:15.1668em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0527em;top:15.1668em;"><span class="stl_287 stl_08 stl_25">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3045em;top:15.1668em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.0881em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0327em;">Severance payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2208em;top:16.0881em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3039em;top:16.0881em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:17.0093em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0327em;">Severance pay, share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2202em;top:17.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3033em;top:17.0093em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:17.9231em;"><span class="stl_288 stl_11 stl_342" style="word-spacing:-0.0453em;">Staff costs, Executive Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6064em;top:17.9231em;"><span class="stl_288 stl_11 stl_189">26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8483em;top:17.9231em;"><span class="stl_288 stl_11 stl_155">33  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:19.3637em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">Wages and salaries  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8345em;top:19.3637em;"><span class="stl_287 stl_08 stl_250">1,775  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.032em;top:19.3637em;"><span class="stl_287 stl_08 stl_215">1,630  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:20.285em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0329em;">Pension contributions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3233em;top:20.285em;"><span class="stl_287 stl_08 stl_09">104  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9401em;top:20.285em;"><span class="stl_287 stl_08 stl_331">91  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:21.2062em;"><span class="stl_287 stl_08 stl_733" style="word-spacing:-0.0471em;">Social security costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3645em;top:21.2062em;"><span class="stl_287 stl_08 stl_365">131  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6533em;top:21.2062em;"><span class="stl_287 stl_08 stl_388">116  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:22.1275em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6839em;top:22.1275em;"><span class="stl_287 stl_08 stl_189">25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9364em;top:22.1275em;"><span class="stl_287 stl_08 stl_187">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:23.0487em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.0379em;">Remuneration, Board of Directors  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0502em;top:23.0487em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.302em;top:23.0487em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:23.9625em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0463em;">Total staff costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5676em;top:23.9625em;"><span class="stl_288 stl_11 stl_78">2,068  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8658em;top:23.9625em;"><span class="stl_288 stl_11 stl_383">1,897  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:25.4031em;"><span class="stl_287 stl_08 stl_146" style="word-spacing:-0.0321em;">Average number of employees during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.757em;top:25.4031em;"><span class="stl_287 stl_08 stl_61">5,233  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.0295em;top:25.4031em;"><span class="stl_287 stl_08 stl_188">4,894  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:26.3243em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0337em;">Number of full-time employees at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.7439em;top:26.3243em;"><span class="stl_287 stl_08 stl_309">5,384  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.122em;top:26.3243em;"><span class="stl_287 stl_08 stl_821">5,196  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:27.7937em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">Remuneration to the Executive Management and the Board of Directors totaled DKK 33m (DKK 40m).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:29.2862em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:30.0437em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">Staff costs comprise remuneration, wages and salaries, pension contributions, etc., and share-based pay-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:30.7937em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0363em;">ment to the company’s employees, incl. termination benefits. The Group has no defined benefit plans.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4491em;top:9.2256em;"><span class="stl_418 stl_11 stl_139" style="word-spacing:-0.0349em;">2.4 Depreciation, amortization, and impairment losses on non-current assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3569em;top:10.4899em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6163em;top:10.4899em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0487em;"><span class="stl_287 stl_08 stl_412" style="word-spacing:-0.0407em;">Amortization of intangible assets, identified in connection with business  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.7987em;"><span class="stl_287 stl_08 stl_79">combinations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3663em;top:12.7987em;"><span class="stl_287 stl_08 stl_63">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6488em;top:12.7987em;"><span class="stl_287 stl_08 stl_388">61  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:13.7199em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">Amortization of intangible development projects and other, incl. IT software  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0132em;top:13.7199em;"><span class="stl_287 stl_08 stl_435">182  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2551em;top:13.7199em;"><span class="stl_287 stl_08 stl_29">154  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:14.6412em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">Depreciation of property, plant, and equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3538em;top:14.6412em;"><span class="stl_287 stl_08 stl_55">82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6188em;top:14.6412em;"><span class="stl_287 stl_08 stl_435">75  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:15.5624em;"><span class="stl_287 stl_08 stl_285" style="word-spacing:-0.0387em;">Depreciation of right-of-use assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3676em;top:15.5624em;"><span class="stl_287 stl_08 stl_28">69  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5926em;top:15.5624em;"><span class="stl_287 stl_08 stl_432">65  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:16.4837em;"><span class="stl_287 stl_08 stl_344" style="word-spacing:-0.0424em;">Net loss on disposed non-current assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.7207em;top:16.4837em;"><span class="stl_287 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9726em;top:16.4837em;"><span class="stl_287 stl_08 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:17.4049em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0414em;">Impairment losses on non-current assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8888em;top:17.4049em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2207em;top:17.4049em;"><span class="stl_287 stl_08 stl_155">333  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:18.3187em;"><span class="stl_288 stl_11 stl_292" style="word-spacing:-0.0387em;">Total depreciation, amortization, and impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8813em;top:18.3187em;"><span class="stl_288 stl_11 stl_77">372  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.132em;top:18.3187em;"><span class="stl_288 stl_11 stl_381">696  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:19.7955em;"><span class="stl_287 stl_08 stl_23" style="word-spacing:-0.0301em;">In 2023/24, DKK 327m of the total impairment losses on non-current assets of DKK 333m relates to an impair-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:20.5455em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0372em;">ment of GI technologies, reflecting the longer time required to penetrate the market. The impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:21.2955em;"><span class="stl_287 stl_08 stl_158" style="word-spacing:-0.0269em;">are charged to 'special items'. Please refer to note 2.6.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:22.7955em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">Depreciation, amortization, and impairment losses have been allocated to the following functions:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.2544em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3569em;top:24.2469em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6163em;top:24.2469em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:25.8056em;"><span class="stl_287 stl_08 stl_632" style="word-spacing:-0.0442em;">Production costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3413em;top:25.8056em;"><span class="stl_287 stl_08 stl_432">85  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5913em;top:25.8056em;"><span class="stl_287 stl_08 stl_416">84  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.7269em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0387em;">Selling and distribution costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.362em;top:26.7269em;"><span class="stl_287 stl_08 stl_77">27  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6038em;top:26.7269em;"><span class="stl_287 stl_08 stl_188">22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.6481em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">Research and development costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0213em;top:27.6481em;"><span class="stl_287 stl_08 stl_308">210  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2732em;top:27.6481em;"><span class="stl_287 stl_08 stl_308">210  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.5694em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0377em;">Management and administrative costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3513em;top:28.5694em;"><span class="stl_287 stl_08 stl_137">50  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5938em;top:28.5694em;"><span class="stl_287 stl_08 stl_322">48  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:29.4906em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8901em;top:29.4906em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2357em;top:29.4906em;"><span class="stl_287 stl_08 stl_32">332  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:30.4044em;"><span class="stl_288 stl_11 stl_292" style="word-spacing:-0.0387em;">Total depreciation, amortization, and impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8826em;top:30.4044em;"><span class="stl_288 stl_11 stl_77">372  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1332em;top:30.4044em;"><span class="stl_288 stl_11 stl_381">696  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:31.8737em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:32.6312em;"><span class="stl_287 stl_08 stl_78" style="word-spacing:-0.028em;">For a description of accounting policies, reference is made to notes 3.1, 3.2, and 3.3.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:32.2399em;"><span class="stl_288 stl_11 stl_245" style="word-spacing:-0.0403em;">Presentation of balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:32.993em;"><span class="stl_438 stl_92 stl_69" style="word-spacing:-0.0463em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:33.7474em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0376em;">Cash and cash equivalents comprise cash in bank, alternating between positive and negative balances, and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:34.4974em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0413em;">short-term deposits with a maturity of less than three months.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:32.2399em;"><span class="stl_288 stl_11 stl_245" style="word-spacing:-0.0403em;">Presentation of balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:32.993em;"><span class="stl_438 stl_92 stl_69" style="word-spacing:-0.0463em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:33.7474em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0376em;">Cash and cash equivalents comprise cash in bank, alternating between positive and negative balances, and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:34.4974em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0413em;">short-term deposits with a maturity of less than three months.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2258em;"><span class="stl_418 stl_11 stl_164" style="word-spacing:-0.0352em;">4.2 Financial instruments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.5449em;top:10.4899em;"><span class="stl_288 stl_11 stl_543" style="word-spacing:-0.0467em;">Contractual cash flows  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.8993em;top:11.3168em;"><span class="stl_288 stl_11 stl_631">Carrying  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:12.0743em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.1418em;top:12.0668em;"><span class="stl_288 stl_11 stl_823">0</span><span class="stl_288 stl_11 stl_790">-</span><span class="stl_288 stl_11 stl_76" style="word-spacing:-0.026em;">1 year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.0311em;top:12.0668em;"><span class="stl_288 stl_11 stl_146" style="word-spacing:-0.032em;">1-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.3311em;top:12.0668em;"><span class="stl_288 stl_11 stl_361" style="word-spacing:-0.037em;">&gt; 5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8699em;top:12.0668em;"><span class="stl_288 stl_11 stl_579">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.2368em;top:12.0668em;"><span class="stl_288 stl_11 stl_271">amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:13.6181em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:14.5468em;"><span class="stl_287 stl_08 stl_75" style="word-spacing:-0.0294em;">Trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.538em;top:14.5468em;"><span class="stl_287 stl_08 stl_404">834  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7168em;top:14.5468em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:14.5468em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2943em;top:14.5468em;"><span class="stl_287 stl_08 stl_404">834  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5455em;top:14.5468em;"><span class="stl_287 stl_08 stl_404">834  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:15.4681em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0403em;">Other receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.9211em;top:15.4681em;"><span class="stl_287 stl_08 stl_146">30  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.203em;top:15.4681em;"><span class="stl_287 stl_08 stl_337">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:15.4681em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6724em;top:15.4681em;"><span class="stl_287 stl_08 stl_432">40  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9243em;top:15.4681em;"><span class="stl_287 stl_08 stl_432">40  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:16.3893em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0414em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.543em;top:16.3893em;"><span class="stl_287 stl_08 stl_361">866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7168em;top:16.3893em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:16.3893em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2986em;top:16.3893em;"><span class="stl_287 stl_08 stl_361">866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5499em;top:16.3893em;"><span class="stl_287 stl_08 stl_361">866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:17.3031em;"><span class="stl_288 stl_11 stl_309" style="word-spacing:-0.0405em;">Financial assets measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:18.0531em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.8674em;top:18.0531em;"><span class="stl_288 stl_11 stl_920">1,730  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.1224em;top:18.0531em;"><span class="stl_288 stl_11 stl_356">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9605em;top:18.0531em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.648em;top:18.0531em;"><span class="stl_288 stl_11 stl_71">1,740  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8993em;top:18.0531em;"><span class="stl_288 stl_11 stl_71">1,740  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:19.4937em;"><span class="stl_287 stl_08 stl_101" style="word-spacing:-0.0245em;">Trade payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.578em;top:19.4937em;"><span class="stl_287 stl_08 stl_448">572  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7168em;top:19.4937em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:19.4937em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3336em;top:19.4937em;"><span class="stl_287 stl_08 stl_448">572  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5855em;top:19.4937em;"><span class="stl_287 stl_08 stl_448">572  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:20.4149em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">Other payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.5711em;top:20.4149em;"><span class="stl_287 stl_08 stl_331">441  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.5474em;top:20.4149em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7993em;top:20.4149em;"><span class="stl_287 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.283em;top:20.4149em;"><span class="stl_287 stl_08 stl_300">448  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5343em;top:20.4149em;"><span class="stl_287 stl_08 stl_300">448  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.778em;top:21.3287em;"><span class="stl_288 stl_11 stl_361" style="word-spacing:-0.037em;">Financial liabilities measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.778em;top:22.0787em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.8899em;top:22.0787em;"><span class="stl_288 stl_11 stl_898">1,013  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.5074em;top:22.0787em;"><span class="stl_288 stl_11 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7593em;top:22.0787em;"><span class="stl_288 stl_11 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.6024em;top:22.0787em;"><span class="stl_288 stl_11 stl_657">1,020  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8536em;top:22.0787em;"><span class="stl_288 stl_11 stl_657">1,020  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7774em;top:24.0237em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7774em;top:24.9524em;"><span class="stl_287 stl_08 stl_75" style="word-spacing:-0.0294em;">Trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.5818em;top:24.9524em;"><span class="stl_287 stl_08 stl_261">745  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7149em;top:24.9524em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9668em;top:24.9524em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3374em;top:24.9524em;"><span class="stl_287 stl_08 stl_261">745  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5886em;top:24.9524em;"><span class="stl_287 stl_08 stl_261">745  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7768em;top:25.8737em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0403em;">Other receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.9386em;top:25.8737em;"><span class="stl_287 stl_08 stl_63">21  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.1786em;top:25.8737em;"><span class="stl_287 stl_08 stl_328">23  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9661em;top:25.8737em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6611em;top:25.8737em;"><span class="stl_287 stl_08 stl_523">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.913em;top:25.8737em;"><span class="stl_287 stl_08 stl_523">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7761em;top:26.7949em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0414em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.6293em;top:26.7949em;"><span class="stl_287 stl_08 stl_302">615  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7136em;top:26.7949em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9655em;top:26.7949em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3849em;top:26.7949em;"><span class="stl_287 stl_08 stl_302">615  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6361em;top:26.7949em;"><span class="stl_287 stl_08 stl_302">615  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:27.7087em;"><span class="stl_288 stl_11 stl_309" style="word-spacing:-0.0405em;">Financial assets measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:28.4587em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.8493em;top:28.4587em;"><span class="stl_288 stl_11 stl_217">1,381  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.0943em;top:28.4587em;"><span class="stl_288 stl_11 stl_137">23  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9561em;top:28.4587em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5793em;top:28.4587em;"><span class="stl_288 stl_11 stl_36">1,404  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8311em;top:28.4587em;"><span class="stl_288 stl_11 stl_36">1,404  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:29.8993em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0396em;">Derivative financial instruments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:30.6493em;"><span class="stl_287 stl_08 stl_270" style="word-spacing:-0.0087em;">(level 2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.2924em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.713em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9649em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.048em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2999em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7749em;top:31.563em;"><span class="stl_288 stl_11 stl_375" style="word-spacing:-0.0428em;">Financial assets stated at fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7749em;top:32.3131em;"><span class="stl_288 stl_11 stl_31" style="word-spacing:-0.042em;">in the income statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.2524em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7036em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9555em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.008em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2599em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7743em;top:33.7537em;"><span class="stl_287 stl_08 stl_101" style="word-spacing:-0.0245em;">Trade payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.558em;top:33.7537em;"><span class="stl_287 stl_08 stl_214">490  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7118em;top:33.7537em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9636em;top:33.7537em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3136em;top:33.7537em;"><span class="stl_287 stl_08 stl_214">490  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5655em;top:33.7537em;"><span class="stl_287 stl_08 stl_214">490  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7736em;top:34.6749em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">Other payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.5699em;top:34.6749em;"><span class="stl_287 stl_08 stl_320">428  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.543em;top:34.6749em;"><span class="stl_287 stl_08 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7949em;top:34.6749em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2961em;top:34.6749em;"><span class="stl_287 stl_08 stl_45">439  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.548em;top:34.6749em;"><span class="stl_287 stl_08 stl_45">439  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7743em;top:35.5887em;"><span class="stl_288 stl_11 stl_361" style="word-spacing:-0.037em;">Financial liabilities measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7743em;top:36.3387em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.4655em;top:36.3387em;"><span class="stl_288 stl_11 stl_435">918  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.5036em;top:36.3387em;"><span class="stl_288 stl_11 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7555em;top:36.3387em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1874em;top:36.3387em;"><span class="stl_288 stl_11 stl_126">929  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.438em;top:36.3387em;"><span class="stl_288 stl_11 stl_126">929  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.5254em;"><span class="stl_288 stl_11 stl_207" style="word-spacing:-0.0412em;">Financial instruments measured at fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:11.2829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0353em;">At the end of the financial year, it is assessed whether an instrument has moved between the levels of the fair  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0329em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0332em;">value hierarchy. There have been no movements between the various levels this year or the year before.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:13.5254em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0418em;">Methods and assumptions for the determination of fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.2785em;"><span class="stl_438 stl_92 stl_528" style="word-spacing:-0.0444em;">Derivative financial instruments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.0329em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Derivative financial instruments are recognized at fair value based on a valuation report prepared by an exter-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.7829em;"><span class="stl_287 stl_08 stl_207" style="word-spacing:-0.0413em;">nal party who valuates the instruments based on discounted cash flows and other inputs based on observ-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:16.5329em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0337em;">able market data.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:18.0254em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:18.7829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">Debt to credit institutions, etc., is recognized at the date of borrowing at fair value corresponding to the pro-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:19.5329em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">ceeds received, less transaction costs paid. In subsequent periods, the financial liabilities are measured at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:20.2829em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">amortized cost using the ‘effective rate of interest method’ so that the difference between the proceeds and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:21.0329em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0344em;">the nominal value is recognized under financial expenses in the income statement for the duration of the loan  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:21.7829em;"><span class="stl_287 stl_08 stl_372">term.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.2829em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">Derivative financial instruments are recognized as from the transaction date and are measured at fair value in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.0329em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0355em;">the balance sheet. The fair value of derivative financial instruments is calculated on the basis of current mar-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.7829em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0338em;">ket data, as well as accepted valuation methods.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.2829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">Changes in the fair value of derivative financial instruments are recognized on an ongoing basis in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.0329em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0384em;">income statement.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.5329em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0371em;">Other liabilities are measured at amortized cost.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:30.0329em;"><span class="stl_287 stl_08 stl_127" style="word-spacing:-0.029em;">Fair value hierarchy is as following:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:31.5329em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.036em;">Level 1: The fair value of financial instruments traded on active markets is based on the listed market prices at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7938em;top:32.2829em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0325em;">the balance sheet date.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7938em;top:33.0329em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">The listed price is used for the Group’s financial assets as the current purchase price.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:34.5329em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0324em;">Level 2: The fair value of financial instruments which are not traded in an active market (e.g., over-the-counter  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8257em;top:35.2829em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0349em;">derivatives), is determined using ordinary valuation methods.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:36.7829em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">Level 3: If no observable market data is available, the instrument is included in the last category.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:9.2258em;"><span class="stl_418 stl_11 stl_164" style="word-spacing:-0.0353em;">4.4 Interest-bearing debt  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.2494em;top:10.4899em;"><span class="stl_288 stl_11 stl_283">30.09.25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.4982em;top:10.4899em;"><span class="stl_288 stl_11 stl_219">30.09.24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0487em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0403em;">Credit institutions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.7213em;top:12.0487em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:71.1419em;top:12.0487em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:12.9699em;"><span class="stl_287 stl_08 stl_169" style="word-spacing:-0.0334em;">Lease liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9726em;top:12.9699em;"><span class="stl_287 stl_08 stl_127">462  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2119em;top:12.9699em;"><span class="stl_287 stl_08 stl_432">483  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:13.8837em;"><span class="stl_288 stl_11 stl_344" style="word-spacing:-0.0423em;">Long-term interest-bearing debt  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8826em;top:13.8837em;"><span class="stl_288 stl_11 stl_77">467  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1019em;top:13.8837em;"><span class="stl_288 stl_11 stl_161">483  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:15.3243em;"><span class="stl_287 stl_08 stl_169" style="word-spacing:-0.0334em;">Lease liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3407em;top:15.3243em;"><span class="stl_287 stl_08 stl_321">80  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6194em;top:15.3243em;"><span class="stl_287 stl_08 stl_435">75  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:16.238em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0426em;">Short-term interest-bearing debt  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.2663em;top:16.238em;"><span class="stl_288 stl_11 stl_161">80  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5451em;top:16.238em;"><span class="stl_288 stl_11 stl_308">75  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:17.6712em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0418em;">Interest-bearing debt  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8788em;top:17.6712em;"><span class="stl_288 stl_11 stl_325">547  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1119em;top:17.6712em;"><span class="stl_288 stl_11 stl_12">558  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:19.148em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0341em;">The table below shows the composition of the Group’s net interest-bearing debt.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:20.6067em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.2494em;top:20.5992em;"><span class="stl_288 stl_11 stl_283">30.09.25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.4982em;top:20.5992em;"><span class="stl_288 stl_11 stl_219">30.09.24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:22.1579em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0363em;">Interest-bearing debt  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9957em;top:22.1579em;"><span class="stl_287 stl_08 stl_227">547  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2288em;top:22.1579em;"><span class="stl_287 stl_08 stl_112">558  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.0792em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0414em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.7463em;top:23.0792em;"><span class="stl_287 stl_08 stl_93">-866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0832em;top:23.0792em;"><span class="stl_287 stl_08 stl_353">-</span><span class="stl_287 stl_08 stl_388">6</span><span class="stl_287 stl_08 stl_326">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.9929em;"><span class="stl_288 stl_11 stl_31" style="word-spacing:-0.042em;">Net interest-bearing debt  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.6819em;top:23.9929em;"><span class="stl_288 stl_11 stl_865">-319  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.3163em;top:23.9929em;"><span class="stl_288 stl_11 stl_579">-57  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2256em;z-index:33;"><span class="stl_418 stl_11 stl_416">2</span><span class="stl_418 stl_11 stl_893">.</span><span class="stl_418 stl_11 stl_25">1 </span><span class="stl_418 stl_11 stl_148">S</span><span class="stl_418 stl_11 stl_177" style="word-spacing:-0.0305em;">egment information  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5343em;"><span class="stl_438 stl_92 stl_632" style="word-spacing:-0.0443em;">Segment reporting  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2887em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0376em;">Ambu is engaged in a single business activity of medical technology solutions for the global market, and the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0387em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">Group is seen as one operating segment. Ambu's business consists of research and development of new  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.7887em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0361em;">solutions, which are then manufactured, marketed, and sold. Except for the sales of the various solutions, all  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.5387em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">of these functional activities take place and are managed globally on a highly integrated basis. These individ-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.2887em;"><span class="stl_287 stl_08 stl_45" style="word-spacing:-0.033em;">ual functional areas are not managed separately.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.7887em;"><span class="stl_287 stl_08 stl_160" style="word-spacing:-0.0319em;">The Executive Management, established and chaired by the CEO, is the vehicle through which the CEO exer-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.5387em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0375em;">cises the authority delegated to her from the Board of Directors, for the management, development, and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.2887em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">performance of Ambu as a whole. The Executive Management is considered to be Ambu’s Chief Operating  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.0387em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0344em;">Decision Making body, as defined by IFRS 8.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.5387em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0375em;">The Group operates in three geographical regions: North America, Europe, and Rest of World. The geo-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.2887em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">graphical distribution of revenue is based on the country in which the goods are delivered. See note 2.2 for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.0387em;"><span class="stl_287 stl_08 stl_177" style="word-spacing:-0.0306em;">disclosure of revenue by geography and countries that individually represent more than 10% of the Group's  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.7887em;"><span class="stl_287 stl_08 stl_76">revenue.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.2887em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">The majority of the Group’s total intangible and tangible assets are located in Denmark, as the parent com-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.0387em;"><span class="stl_287 stl_08 stl_18" style="word-spacing:-0.0298em;">pany owns the Group's intellectual property rights. Denmark accounts for DKK 1,887m (DKK 1,828m) of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.7887em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0365em;">amounts in Europe presented below. Deployed assets in North America and Rest of World primarily relate to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.5387em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">the Group's production facilities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.0387em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">The management monitors goodwill as a whole, and goodwill is thus not allocated to geographical areas.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6877em;top:28.4899em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.947em;top:28.4899em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:30.0412em;"><span class="stl_288 stl_11 stl_245" style="word-spacing:-0.0401em;">Intangible and tangible assets less goodwill by geographical region:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:30.9699em;"><span class="stl_287 stl_08 stl_473" style="word-spacing:-0.0512em;">North America  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3252em;top:30.9699em;"><span class="stl_287 stl_08 stl_09">104  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6327em;top:30.9699em;"><span class="stl_287 stl_08 stl_352">141  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:31.8912em;"><span class="stl_287 stl_08 stl_145">Europe  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.752em;top:31.8912em;"><span class="stl_287 stl_08 stl_161">2,044  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.0933em;top:31.8912em;"><span class="stl_287 stl_08 stl_793">1,966  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:32.8124em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0343em;">Rest of World  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3195em;top:32.8124em;"><span class="stl_287 stl_08 stl_189">736  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5795em;top:32.8124em;"><span class="stl_287 stl_08 stl_348">723  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:33.7262em;"><span class="stl_288 stl_11 stl_579">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5608em;top:33.7262em;"><span class="stl_288 stl_11 stl_360">2,884  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8083em;top:33.7262em;"><span class="stl_288 stl_11 stl_47">2,830  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:9.2258em;"><span class="stl_418 stl_11 stl_78" style="word-spacing:-0.028em;">2.2 Revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3569em;top:10.4899em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6163em;top:10.4899em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0487em;"><span class="stl_287 stl_08 stl_347">Respiratory  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.5138em;top:12.0487em;"><span class="stl_287 stl_08 stl_894">1,818  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6938em;top:12.0487em;"><span class="stl_287 stl_08 stl_113">1,645  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.9699em;"><span class="stl_287 stl_08 stl_270" style="word-spacing:-0.0086em;">URO, ENT, &amp; GI  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4819em;top:12.9699em;"><span class="stl_287 stl_08 stl_386">1,826  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6907em;top:12.9699em;"><span class="stl_287 stl_08 stl_129">1,545  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:13.8912em;"><span class="stl_287 stl_08 stl_437">Anesthesia  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4901em;top:13.8912em;"><span class="stl_287 stl_08 stl_229">1,249  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.8013em;top:13.8912em;"><span class="stl_287 stl_08 stl_345">1,155  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.8124em;"><span class="stl_287 stl_08 stl_45" style="word-spacing:-0.0331em;">Patient Monitoring  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.5401em;top:14.8124em;"><span class="stl_287 stl_08 stl_485">1,144  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.7038em;top:14.8124em;"><span class="stl_287 stl_08 stl_32">1,046  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4494em;top:15.7262em;"><span class="stl_288 stl_11 stl_46" style="word-spacing:-0.0308em;">Total revenue by business groups  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.257em;top:15.7262em;"><span class="stl_288 stl_11 stl_204">6,037  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5051em;top:15.7262em;"><span class="stl_288 stl_11 stl_137">5,391  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4494em;top:17.1668em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">North America</span><sup style="top: -0.2078em;"><span class="stl_667 stl_08 stl_895" style="word-spacing:-0.0604em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4759em;top:17.1671em;"><span class="stl_287 stl_08 stl_227">3,051  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.7296em;top:17.1671em;"><span class="stl_287 stl_08 stl_393">2,732  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.449em;top:18.0883em;"><span class="stl_287 stl_08 stl_26">Europe</span><sup style="top: -0.2081em;"><span class="stl_667 stl_08 stl_96">2  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4302em;top:18.0884em;"><span class="stl_287 stl_08 stl_75">2,405  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.8421em;top:18.0884em;"><span class="stl_287 stl_08 stl_72">2,114  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:19.0096em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">Rest of World  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9977em;top:19.0096em;"><span class="stl_287 stl_08 stl_325">581  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2121em;top:19.0096em;"><span class="stl_287 stl_08 stl_321">545  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:19.9234em;"><span class="stl_288 stl_11 stl_66" style="word-spacing:-0.0287em;">Total revenue by markets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.2564em;top:19.9234em;"><span class="stl_288 stl_11 stl_204">6,037  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5046em;top:19.9234em;"><span class="stl_288 stl_11 stl_137">5,391  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:21.3948em;"><span class="stl_390 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.9213em;top:21.3563em;"><span class="stl_391 stl_08 stl_334" style="word-spacing:-0.0467em;">North America includes revenue in the U.S. of DKK 2,980m (DKK 2,666m).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:21.9781em;"><span class="stl_390 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.9213em;top:21.9397em;"><span class="stl_391 stl_08 stl_653" style="word-spacing:-0.0449em;">The Group's domicile country, Denmark, is included in Europe at DKK 58m (DKK 58m).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.3093em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.0668em;"><span class="stl_287 stl_08 stl_289" style="word-spacing:-0.0343em;">Revenue from the sale of goods is recognized in the income statement when all performance obligations have  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.8168em;"><span class="stl_287 stl_08 stl_202" style="word-spacing:-0.0355em;">been fulfilled at the point in time where risk is transferred. Revenue is measured at the fair value of the agreed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:25.5668em;"><span class="stl_287 stl_08 stl_104" style="word-spacing:-0.0337em;">consideration, exclusive of VAT and taxes collected on behalf of a third party. At the time of recognition of reve-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.3168em;"><span class="stl_287 stl_08 stl_208" style="word-spacing:-0.0349em;">nue, a number of price adjustments are also estimated. These are recognized as a reduction to revenue.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.6574em;"><span class="stl_287 stl_08 stl_157" style="word-spacing:-0.0394em;">The most significant price adjustments stem from sales generated through dealers in the U.S. The dealer con-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.4074em;"><span class="stl_287 stl_08 stl_114" style="word-spacing:-0.0408em;">tracts contain chargebacks related to contractual arrangements between Ambu and the dealers whereby prod-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:29.1574em;"><span class="stl_287 stl_08 stl_157" style="word-spacing:-0.0395em;">ucts are sold to the end-customers at contract prices lower than the list prices originally charged to the dealers.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:29.9074em;"><span class="stl_287 stl_08 stl_67" style="word-spacing:-0.0367em;">This requires monitoring of sales to individual dealers at the product level. In addition, the sales contracts also  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:30.6574em;"><span class="stl_287 stl_08 stl_142" style="word-spacing:-0.0378em;">contain volume and product-specific rebates, as well as other types of rebates.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:31.9937em;"><span class="stl_438 stl_92 stl_344" style="word-spacing:-0.0424em;">Delivery and payment terms  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:32.748em;"><span class="stl_287 stl_08 stl_270" style="word-spacing:-0.0386em;">The Group's primary performance obligation is the sale and delivery of medical technology solutions to custom-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:33.498em;"><span class="stl_287 stl_08 stl_190" style="word-spacing:-0.0384em;">ers. The performance obligation is fulfilled when the risk of the goods is passed to the customer, which most  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:34.248em;"><span class="stl_287 stl_08 stl_284" style="word-spacing:-0.0369em;">often occurs at a prior agreed delivery address. Due to the Group's focus on disposable devices, the Group is not  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:34.998em;"><span class="stl_287 stl_08 stl_189" style="word-spacing:-0.034em;">subject to any material guarantee obligations.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:36.3387em;"><span class="stl_287 stl_08 stl_461" style="word-spacing:-0.0356em;">The Group has no open sales orders expected to be delivered more than one year from the balance sheet date,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:37.0887em;z-index:3854;"><span class="stl_287 stl_08 stl_658" style="word-spacing:-0.0285em;">and therefore, no performance obligations have been disclosed in accordance with IFRS 15 par 121.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.4856em;"><span class="stl_287 stl_08 stl_87" style="word-spacing:-0.0358em;">The Group's customers have payment terms that reflect the market in which the sale takes place. For the majority  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2356em;"><span class="stl_287 stl_08 stl_214" style="word-spacing:-0.035em;">of sales, payment terms are 15-60 days. Historically, the Group has not experienced any major losses on trade  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.9856em;"><span class="stl_287 stl_08 stl_15" style="word-spacing:-0.0374em;">receivables. See note 3.6 on trade receivables.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.3187em;"><span class="stl_288 stl_11 stl_207" style="word-spacing:-0.0412em;">! Material accounting estimates  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.0719em;"><span class="stl_438 stl_92 stl_322" style="word-spacing:-0.0459em;">Unsettled price adjustments in the U.S.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.8262em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0383em;">The primary unsettled price adjustments relate to chargebacks stemming from sales to dealers in the U.S.,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.5762em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">which also constitutes the material accounting estimate impacting revenue.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.0762em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0371em;">Chargebacks are offset against revenue and trade receivables. Chargebacks in the U.S. market are subject to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.8262em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0384em;">estimation uncertainty, as the actual price adjustment is not determined until the dealers sell the products to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.5762em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0386em;">the end-customers (hospitals, clinics, etc.). Chargebacks are the difference between the prices agreed with  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.3262em;"><span class="stl_287 stl_08 stl_285" style="word-spacing:-0.0388em;">the end-customers and the list prices originally charged to the dealers. The price adjustments are estimated  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.0762em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0383em;">using a combination of factors, such as historical experience from actual received claims, contract terms, and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.8262em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0344em;">the value of claims received, but not yet processed.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.3262em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0377em;">The chargebacks are estimated at the time the related sales are recorded. These estimates of unsettled  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.0762em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0332em;">chargebacks are considered a key accounting estimate as not all conditions are known at the time of the sale,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.8262em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0367em;">for example information about which end-customer will purchase the products from the dealer and at which  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.5762em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0367em;">price. The accruals are calculated on the basis of a percentage of sales for each product, as defined by the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.3262em;"><span class="stl_287 stl_08 stl_375" style="word-spacing:-0.0428em;">contracts with the various dealers.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.8262em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0365em;">Unsettled price adjustments recognized in the balance sheet amount to DKK </span><span class="stl_287 stl_08 stl_340">1</span><span class="stl_287 stl_08 stl_204" style="word-spacing:-0.0146em;">15m (DKK 72m) as of 30 Sep-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.5762em;"><span class="stl_287 stl_08 stl_201" style="word-spacing:-0.0236em;">tember 2025.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.3093em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.0668em;"><span class="stl_287 stl_08 stl_289" style="word-spacing:-0.0343em;">Revenue from the sale of goods is recognized in the income statement when all performance obligations have  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.8168em;"><span class="stl_287 stl_08 stl_202" style="word-spacing:-0.0355em;">been fulfilled at the point in time where risk is transferred. Revenue is measured at the fair value of the agreed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:25.5668em;"><span class="stl_287 stl_08 stl_104" style="word-spacing:-0.0337em;">consideration, exclusive of VAT and taxes collected on behalf of a third party. At the time of recognition of reve-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.3168em;"><span class="stl_287 stl_08 stl_208" style="word-spacing:-0.0349em;">nue, a number of price adjustments are also estimated. These are recognized as a reduction to revenue.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.6574em;"><span class="stl_287 stl_08 stl_157" style="word-spacing:-0.0394em;">The most significant price adjustments stem from sales generated through dealers in the U.S. The dealer con-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.4074em;"><span class="stl_287 stl_08 stl_114" style="word-spacing:-0.0408em;">tracts contain chargebacks related to contractual arrangements between Ambu and the dealers whereby prod-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:29.1574em;"><span class="stl_287 stl_08 stl_157" style="word-spacing:-0.0395em;">ucts are sold to the end-customers at contract prices lower than the list prices originally charged to the dealers.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:29.9074em;"><span class="stl_287 stl_08 stl_67" style="word-spacing:-0.0367em;">This requires monitoring of sales to individual dealers at the product level. In addition, the sales contracts also  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:30.6574em;"><span class="stl_287 stl_08 stl_142" style="word-spacing:-0.0378em;">contain volume and product-specific rebates, as well as other types of rebates.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:9.2258em;"><span class="stl_418 stl_11 stl_96" style="word-spacing:-0.0484em;">2.3 Staff costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.5387em;"><span class="stl_287 stl_08 stl_31" style="word-spacing:-0.0419em;">The staff costs of the Group are distributed on the respective functions as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:11.9974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3569em;top:11.9899em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6163em;top:11.9899em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:13.5487em;"><span class="stl_287 stl_08 stl_632" style="word-spacing:-0.0442em;">Production costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9819em;top:13.5487em;"><span class="stl_287 stl_08 stl_188">487  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2969em;top:13.5487em;"><span class="stl_287 stl_08 stl_54">474  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.4699em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0387em;">Selling and distribution costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9988em;top:14.4699em;"><span class="stl_287 stl_08 stl_386">981  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2445em;top:14.4699em;"><span class="stl_287 stl_08 stl_57">869  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.3912em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">Research and development costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3576em;top:15.3912em;"><span class="stl_287 stl_08 stl_199">97  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6188em;top:15.3912em;"><span class="stl_287 stl_08 stl_71">81  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:16.3124em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0377em;">Management and administrative costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9951em;top:16.3124em;"><span class="stl_287 stl_08 stl_227">359  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2338em;top:16.3124em;"><span class="stl_287 stl_08 stl_208">339  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:17.2337em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8895em;top:17.2337em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.8101em;top:17.2337em;"><span class="stl_287 stl_08 stl_791">-1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:18.1474em;"><span class="stl_288 stl_11 stl_540" style="word-spacing:-0.0417em;">Total staff costs recognized in income statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.2963em;top:18.1474em;"><span class="stl_288 stl_11 stl_448">1,924  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5801em;top:18.1474em;"><span class="stl_288 stl_11 stl_368">1,762  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:19.588em;"><span class="stl_287 stl_08 stl_375" style="word-spacing:-0.0429em;">Staff costs included in intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0057em;top:19.588em;"><span class="stl_287 stl_08 stl_324">140  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2751em;top:19.588em;"><span class="stl_287 stl_08 stl_363">132  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:20.5093em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">Staff costs included in property, plant, and equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.7207em;top:20.5093em;"><span class="stl_287 stl_08 stl_25">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9726em;top:20.5093em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:21.423em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0463em;">Total staff costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.2382em;top:21.423em;"><span class="stl_288 stl_11 stl_78">2,068  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5363em;top:21.423em;"><span class="stl_288 stl_11 stl_833">1,897  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.4856em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0402em;">Staff costs are distributed between the Executive Management, the Board of Directors, and other employees  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2356em;"><span class="stl_287 stl_08 stl_46" style="word-spacing:-0.0308em;">as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.6943em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6877em;top:12.6868em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.947em;top:12.6868em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.2456em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">Remuneration, Executive Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6864em;top:14.2456em;"><span class="stl_287 stl_08 stl_189">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9352em;top:14.2456em;"><span class="stl_287 stl_08 stl_188">22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7802em;top:15.1668em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0527em;top:15.1668em;"><span class="stl_287 stl_08 stl_25">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3045em;top:15.1668em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.0881em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0327em;">Severance payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2208em;top:16.0881em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3039em;top:16.0881em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:17.0093em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0327em;">Severance pay, share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2202em;top:17.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3033em;top:17.0093em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:17.9231em;"><span class="stl_288 stl_11 stl_342" style="word-spacing:-0.0453em;">Staff costs, Executive Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6064em;top:17.9231em;"><span class="stl_288 stl_11 stl_189">26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8483em;top:17.9231em;"><span class="stl_288 stl_11 stl_155">33  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:19.3637em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">Wages and salaries  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8345em;top:19.3637em;"><span class="stl_287 stl_08 stl_250">1,775  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.032em;top:19.3637em;"><span class="stl_287 stl_08 stl_215">1,630  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:20.285em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0329em;">Pension contributions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3233em;top:20.285em;"><span class="stl_287 stl_08 stl_09">104  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9401em;top:20.285em;"><span class="stl_287 stl_08 stl_331">91  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:21.2062em;"><span class="stl_287 stl_08 stl_733" style="word-spacing:-0.0471em;">Social security costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3645em;top:21.2062em;"><span class="stl_287 stl_08 stl_365">131  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6533em;top:21.2062em;"><span class="stl_287 stl_08 stl_388">116  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:22.1275em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6839em;top:22.1275em;"><span class="stl_287 stl_08 stl_189">25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9364em;top:22.1275em;"><span class="stl_287 stl_08 stl_187">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:23.0487em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.0379em;">Remuneration, Board of Directors  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0502em;top:23.0487em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.302em;top:23.0487em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:23.9625em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0463em;">Total staff costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5676em;top:23.9625em;"><span class="stl_288 stl_11 stl_78">2,068  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8658em;top:23.9625em;"><span class="stl_288 stl_11 stl_383">1,897  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:25.4031em;"><span class="stl_287 stl_08 stl_146" style="word-spacing:-0.0321em;">Average number of employees during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.757em;top:25.4031em;"><span class="stl_287 stl_08 stl_61">5,233  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.0295em;top:25.4031em;"><span class="stl_287 stl_08 stl_188">4,894  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:26.3243em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0337em;">Number of full-time employees at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.7439em;top:26.3243em;"><span class="stl_287 stl_08 stl_309">5,384  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.122em;top:26.3243em;"><span class="stl_287 stl_08 stl_821">5,196  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:27.7937em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">Remuneration to the Executive Management and the Board of Directors totaled DKK 33m (DKK 40m).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:29.2862em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:30.0437em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">Staff costs comprise remuneration, wages and salaries, pension contributions, etc., and share-based pay-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:30.7937em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0363em;">ment to the company’s employees, incl. termination benefits. The Group has no defined benefit plans.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2258em;"><span class="stl_418 stl_11 stl_82" style="word-spacing:-0.0317em;">5.4 Share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5387em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0351em;">The Group's incentive-based remuneration to the Executive Management is described in the Remuneration  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2887em;"><span class="stl_287 stl_08 stl_38" style="word-spacing:-0.0321em;">Report 2024/25. Share-based payment is governed by the Remuneration Policy approved by the Board of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0387em;"><span class="stl_287 stl_08 stl_47" style="word-spacing:-0.0399em;">Directors. The Board of Directors does not receive share-based payment.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.5387em;"><span class="stl_287 stl_08 stl_37" style="word-spacing:-0.0312em;">The total expense in profit or loss for share-based payment was DKK 31m (DKK 26m).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.0343em;"><span class="stl_438 stl_92 stl_133" style="word-spacing:-0.0383em;">Performance Share Units (PSU)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.7887em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.034em;">In 2024/25 Ambu established a share-based long-term incentive plan for the Executive Management and key  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.5387em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">employees selected on the basis of job level, by way of granting PSUs. The financial target weighted into the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.2887em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.0299em;">performance was organic revenue growth for the Group (35%) and Endoscopy Solutions (35%), respectively,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.0387em;"><span class="stl_287 stl_08 stl_18" style="word-spacing:-0.0298em;">and EBIT margin before special items (30%), which was achieved by 53% of maximum potential.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.5387em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.03em;">In 2023/24 a PSU program was granted under the same conditions as for 2024/25. The financial target was  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.2887em;"><span class="stl_287 stl_08 stl_76" style="word-spacing:-0.0259em;">organic revenue growth (50%) and EBIT margin before special items (50%), which was achieved by 91% of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.0387em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0324em;">maximum potential.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.5387em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">The fair value per PSU at grant date was DKK </span><span class="stl_287 stl_08 stl_340">1</span><span class="stl_287 stl_08 stl_177" style="word-spacing:-0.0307em;">11 (DKK 99). PSU programs vest three years after grant.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.0343em;"><span class="stl_438 stl_92 stl_360" style="word-spacing:-0.0365em;">Employee shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.7887em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0396em;">Ambu offers all its employees the opportunity to acquire a number of shares based on a fixed percentage  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.5387em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">of their annual base salary. The number of shares with which an employee participates is matched free of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.2887em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0384em;">charge after two years (Restricted Stock Units).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.7887em;"><span class="stl_287 stl_08 stl_24" style="word-spacing:-0.0266em;">The fair value per share at grant date was DKK 109 (DKK 130).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.9769em;top:9.7581em;"><span class="stl_288 stl_11 stl_47">Executive  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4738em;top:9.7581em;"><span class="stl_288 stl_11 stl_566">Other  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.5081em;"><span class="stl_288 stl_11 stl_433" style="word-spacing:-0.0451em;">Shares outstanding  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.8776em;top:10.5081em;"><span class="stl_288 stl_11 stl_151" style="word-spacing:1.0178em;">Management employees  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.7919em;top:10.5081em;"><span class="stl_288 stl_11 stl_579">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0669em;"><span class="stl_287 stl_08 stl_45" style="word-spacing:-0.0331em;">Shares outstanding at 1 October, 2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.0351em;top:12.0669em;"><span class="stl_287 stl_08 stl_147">85,238  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5394em;top:12.0669em;"><span class="stl_287 stl_08 stl_924">1,870,411  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.4751em;top:12.0669em;"><span class="stl_287 stl_08 stl_265">1,955,649  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:12.9881em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0328em;">Shares granted during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.0657em;top:12.9881em;"><span class="stl_287 stl_08 stl_111">90,824  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9901em;top:12.9881em;"><span class="stl_287 stl_08 stl_491">277,388  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9819em;top:12.9881em;"><span class="stl_287 stl_08 stl_357">368,212  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:13.9094em;"><span class="stl_287 stl_08 stl_23" style="word-spacing:-0.0301em;">Transferred during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.8838em;top:13.9094em;"><span class="stl_287 stl_08 stl_181">-21,564  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.3257em;top:13.9094em;"><span class="stl_287 stl_08 stl_592">21,564  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:71.1419em;top:13.9094em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:14.8306em;"><span class="stl_287 stl_08 stl_177" style="word-spacing:-0.0306em;">Shares exercised during the year</span><sup style="top: -0.2079em;"><span class="stl_667 stl_08 stl_644" style="word-spacing:-0.0526em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.8746em;top:14.8308em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.1809em;top:14.8308em;z-index:310;"><span class="stl_287 stl_08 stl_444">-88</span><span class="stl_287 stl_08 stl_802">,</span><span class="stl_287 stl_08 stl_389">178  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.1952em;top:14.8308em;z-index:317;"><span class="stl_287 stl_08 stl_444">-88</span><span class="stl_287 stl_08 stl_802">,</span><span class="stl_287 stl_08 stl_389">178  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.449em;top:15.7521em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0323em;">Shared lapsed during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.8746em;top:15.7521em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.664em;top:15.7521em;"><span class="stl_287 stl_08 stl_473">-483,584  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6778em;top:15.7521em;"><span class="stl_287 stl_08 stl_473">-483,584  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4484em;top:16.6658em;"><span class="stl_288 stl_11 stl_396" style="word-spacing:-0.0404em;">Shares outstanding at 30 September 2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.4371em;top:16.6658em;"><span class="stl_288 stl_11 stl_384">154,498  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1515em;top:16.6658em;"><span class="stl_288 stl_11 stl_925" style="word-spacing:1.0481em;">1,597,601 1,752,099  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4484em;top:18.1064em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0328em;">Shares granted during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.1003em;top:18.1064em;"><span class="stl_287 stl_08 stl_520">53,981  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.0278em;top:18.1064em;"><span class="stl_287 stl_08 stl_261">247,390  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.0196em;top:18.1064em;"><span class="stl_287 stl_08 stl_385">301,371  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4484em;top:19.0277em;"><span class="stl_287 stl_08 stl_177" style="word-spacing:-0.0306em;">Shares exercised during the year</span><sup style="top: -0.2079em;"><span class="stl_667 stl_08 stl_644" style="word-spacing:-0.0525em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.1689em;top:19.0279em;"><span class="stl_287 stl_08 stl_513">-8,548  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9301em;top:19.0279em;"><span class="stl_287 stl_08 stl_926">-157,076  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8333em;top:19.0279em;"><span class="stl_287 stl_08 stl_927">-165,624  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:19.9491em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0323em;">Shared lapsed during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.8745em;top:19.9491em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.8339em;top:19.9491em;"><span class="stl_287 stl_08 stl_663">-941,733  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8501em;top:19.9491em;"><span class="stl_287 stl_08 stl_663">-941,733  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4483em;top:20.8629em;"><span class="stl_288 stl_11 stl_293" style="word-spacing:-0.0363em;">Shares outstanding at 30 September, 2025  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.5176em;top:20.8629em;"><span class="stl_288 stl_11 stl_788">199,931  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7689em;top:20.8629em;"><span class="stl_288 stl_11 stl_779">746,182  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8026em;top:20.8629em;"><span class="stl_288 stl_11 stl_928">946,113  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:22.3343em;"><span class="stl_390 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.9213em;top:22.2958em;"><span class="stl_391 stl_08 stl_510" style="word-spacing:-0.0392em;">The average market price on the date of exercise in 2024/25 was DKK 104 for PSUs and DKK 101 (DKK 131) for employee shares.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:22.8793em;"><span class="stl_391 stl_08 stl_322" style="word-spacing:-0.046em;">In 2024/25, the remaining legacy program of stock options expired, except for 82,228 stock options exercised at an average market  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.4628em;"><span class="stl_391 stl_08 stl_396" style="word-spacing:-0.0404em;">price of DKK 142 and an exercise price of DKK 134.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.8801em;top:25.3742em;"><span class="stl_288 stl_11 stl_31">Maximum  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5382em;top:25.3742em;"><span class="stl_288 stl_11 stl_39" style="word-spacing:0.6621em;">Accumu- Remaining  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.9445em;top:26.1242em;"><span class="stl_288 stl_11 stl_510" style="word-spacing:-0.0391em;">Shares at 30  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.8313em;top:26.1242em;"><span class="stl_288 stl_11 stl_159">market  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.2495em;top:26.1242em;"><span class="stl_288 stl_11 stl_347" style="word-spacing:-0.0434em;">lated cost</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:67.890em;top:26.1242em;"><span class="stl_288 stl_11 stl_298" style="word-spacing:-0.0373em;">value to be  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.8742em;"><span class="stl_288 stl_11 stl_557" style="word-spacing:-0.0447em;">Number of outstanding shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.3332em;top:26.8742em;"><span class="stl_288 stl_11 stl_294">September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.6007em;top:26.8742em;"><span class="stl_288 stl_11 stl_297" style="word-spacing:-0.038em;">value at</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.796em;top:26.8742em;"><span class="stl_288 stl_11 stl_372" style="word-spacing:1.1935em;">recognized expensed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.6242em;"><span class="stl_288 stl_11 stl_476" style="word-spacing:-0.0497em;">in Ambu A/S  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:57.1801em;top:27.6242em;"><span class="stl_288 stl_11 stl_487">2025  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.3663em;top:27.6242em;"><span class="stl_288 stl_11 stl_344">grant  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.8951em;top:27.6242em;"><span class="stl_288 stl_11 stl_408">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9107em;top:27.6242em;"><span class="stl_288 stl_11 stl_408">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:29.1829em;"><span class="stl_287 stl_08 stl_18" style="word-spacing:-0.0298em;">Program granted, (vesting)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:30.1042em;"><span class="stl_287 stl_08 stl_20" style="word-spacing:-0.0105em;">January 2023, (2026)</span><sup style="top: -0.2081em;"><span class="stl_667 stl_08 stl_137" style="word-spacing:-0.018em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.4364em;top:30.1042em;"><span class="stl_287 stl_08 stl_419">294,589  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.3327em;top:30.1042em;"><span class="stl_287 stl_08 stl_76">38  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.5914em;top:30.1042em;"><span class="stl_287 stl_08 stl_189">25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9733em;top:30.1042em;"><span class="stl_287 stl_08 stl_25">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4483em;top:31.0255em;"><span class="stl_287 stl_08 stl_282" style="word-spacing:-0.0124em;">January 2024, (2027)</span><sup style="top: -0.2081em;"><span class="stl_667 stl_08 stl_129" style="word-spacing:-0.0213em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.5409em;top:31.0255em;"><span class="stl_287 stl_08 stl_894">309,166  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.3509em;top:31.0255em;"><span class="stl_287 stl_08 stl_63">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.5921em;top:31.0255em;"><span class="stl_287 stl_08 stl_189">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6377em;top:31.0255em;"><span class="stl_287 stl_08 stl_352">13  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.449em;top:31.9468em;"><span class="stl_287 stl_08 stl_195" style="word-spacing:0.0018em;">May 2024, (2026)</span><sup style="top: -0.2081em;"><span class="stl_667 stl_08 stl_226" style="word-spacing:0.0032em;">2  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.8433em;top:31.9469em;"><span class="stl_287 stl_08 stl_253">46,959  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.7058em;top:31.9469em;"><span class="stl_287 stl_08 stl_25">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.9577em;top:31.9469em;"><span class="stl_287 stl_08 stl_25">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9733em;top:31.9469em;"><span class="stl_287 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4483em;top:32.8681em;"><span class="stl_287 stl_08 stl_330" style="word-spacing:-0.0126em;">January 2025, (2028)</span><sup style="top: -0.2081em;"><span class="stl_667 stl_08 stl_113" style="word-spacing:-0.0216em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.586em;top:32.8682em;"><span class="stl_287 stl_08 stl_722">217,782  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.3241em;top:32.8682em;"><span class="stl_287 stl_08 stl_416">46  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.9579em;top:32.8682em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6335em;top:32.8682em;"><span class="stl_287 stl_08 stl_364">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4491em;top:33.7894em;"><span class="stl_287 stl_08 stl_328" style="word-spacing:-0.0059em;">May 2025, (2027)</span><sup style="top: -0.2081em;"><span class="stl_667 stl_08 stl_442" style="word-spacing:-0.0102em;">2  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.9567em;top:33.7895em;"><span class="stl_287 stl_08 stl_929">77,617  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.706em;top:33.7895em;"><span class="stl_287 stl_08 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.9579em;top:33.7895em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9735em;top:33.7895em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4485em;top:34.7032em;"><span class="stl_288 stl_11 stl_510" style="word-spacing:-0.0393em;">Total number of shares outstanding  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.2835em;top:34.7032em;"><span class="stl_288 stl_11 stl_928">946,113  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.8698em;top:34.7032em;"><span class="stl_288 stl_11 stl_29">135  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.5273em;top:34.7032em;"><span class="stl_288 stl_11 stl_56">57  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.511em;top:34.7032em;"><span class="stl_288 stl_11 stl_300">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:36.1745em;"><span class="stl_390 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.9213em;top:36.1361em;"><span class="stl_391 stl_08 stl_542" style="word-spacing:-0.0497em;">The weighted average remaining contractual life of all outstanding PSUs was 1.2 years.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:36.7579em;"><span class="stl_390 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.9111em;top:36.7194em;"><span class="stl_391 stl_08 stl_633" style="word-spacing:-0.0493em;">The weighted average remaining contractual life of all outstanding employee shares was 1.3 years.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:9.2258em;"><span class="stl_418 stl_11 stl_96" style="word-spacing:-0.0484em;">2.3 Staff costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.5387em;"><span class="stl_287 stl_08 stl_31" style="word-spacing:-0.0419em;">The staff costs of the Group are distributed on the respective functions as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:11.9974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3569em;top:11.9899em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6163em;top:11.9899em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:13.5487em;"><span class="stl_287 stl_08 stl_632" style="word-spacing:-0.0442em;">Production costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9819em;top:13.5487em;"><span class="stl_287 stl_08 stl_188">487  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2969em;top:13.5487em;"><span class="stl_287 stl_08 stl_54">474  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.4699em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0387em;">Selling and distribution costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9988em;top:14.4699em;"><span class="stl_287 stl_08 stl_386">981  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2445em;top:14.4699em;"><span class="stl_287 stl_08 stl_57">869  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.3912em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">Research and development costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3576em;top:15.3912em;"><span class="stl_287 stl_08 stl_199">97  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6188em;top:15.3912em;"><span class="stl_287 stl_08 stl_71">81  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:16.3124em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0377em;">Management and administrative costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9951em;top:16.3124em;"><span class="stl_287 stl_08 stl_227">359  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2338em;top:16.3124em;"><span class="stl_287 stl_08 stl_208">339  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:17.2337em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8895em;top:17.2337em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.8101em;top:17.2337em;"><span class="stl_287 stl_08 stl_791">-1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:18.1474em;"><span class="stl_288 stl_11 stl_540" style="word-spacing:-0.0417em;">Total staff costs recognized in income statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.2963em;top:18.1474em;"><span class="stl_288 stl_11 stl_448">1,924  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5801em;top:18.1474em;"><span class="stl_288 stl_11 stl_368">1,762  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:19.588em;"><span class="stl_287 stl_08 stl_375" style="word-spacing:-0.0429em;">Staff costs included in intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0057em;top:19.588em;"><span class="stl_287 stl_08 stl_324">140  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2751em;top:19.588em;"><span class="stl_287 stl_08 stl_363">132  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:20.5093em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">Staff costs included in property, plant, and equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.7207em;top:20.5093em;"><span class="stl_287 stl_08 stl_25">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9726em;top:20.5093em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:21.423em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0463em;">Total staff costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.2382em;top:21.423em;"><span class="stl_288 stl_11 stl_78">2,068  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5363em;top:21.423em;"><span class="stl_288 stl_11 stl_833">1,897  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.4856em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0402em;">Staff costs are distributed between the Executive Management, the Board of Directors, and other employees  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2356em;"><span class="stl_287 stl_08 stl_46" style="word-spacing:-0.0308em;">as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.6943em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6877em;top:12.6868em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.947em;top:12.6868em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.2456em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">Remuneration, Executive Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6864em;top:14.2456em;"><span class="stl_287 stl_08 stl_189">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9352em;top:14.2456em;"><span class="stl_287 stl_08 stl_188">22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7802em;top:15.1668em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0527em;top:15.1668em;"><span class="stl_287 stl_08 stl_25">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3045em;top:15.1668em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.0881em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0327em;">Severance payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2208em;top:16.0881em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3039em;top:16.0881em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:17.0093em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0327em;">Severance pay, share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2202em;top:17.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3033em;top:17.0093em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:17.9231em;"><span class="stl_288 stl_11 stl_342" style="word-spacing:-0.0453em;">Staff costs, Executive Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6064em;top:17.9231em;"><span class="stl_288 stl_11 stl_189">26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8483em;top:17.9231em;"><span class="stl_288 stl_11 stl_155">33  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:19.3637em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">Wages and salaries  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8345em;top:19.3637em;"><span class="stl_287 stl_08 stl_250">1,775  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.032em;top:19.3637em;"><span class="stl_287 stl_08 stl_215">1,630  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:20.285em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0329em;">Pension contributions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3233em;top:20.285em;"><span class="stl_287 stl_08 stl_09">104  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9401em;top:20.285em;"><span class="stl_287 stl_08 stl_331">91  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:21.2062em;"><span class="stl_287 stl_08 stl_733" style="word-spacing:-0.0471em;">Social security costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3645em;top:21.2062em;"><span class="stl_287 stl_08 stl_365">131  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6533em;top:21.2062em;"><span class="stl_287 stl_08 stl_388">116  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:22.1275em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6839em;top:22.1275em;"><span class="stl_287 stl_08 stl_189">25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9364em;top:22.1275em;"><span class="stl_287 stl_08 stl_187">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:23.0487em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.0379em;">Remuneration, Board of Directors  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0502em;top:23.0487em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.302em;top:23.0487em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:23.9625em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0463em;">Total staff costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5676em;top:23.9625em;"><span class="stl_288 stl_11 stl_78">2,068  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8658em;top:23.9625em;"><span class="stl_288 stl_11 stl_383">1,897  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:25.4031em;"><span class="stl_287 stl_08 stl_146" style="word-spacing:-0.0321em;">Average number of employees during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.757em;top:25.4031em;"><span class="stl_287 stl_08 stl_61">5,233  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.0295em;top:25.4031em;"><span class="stl_287 stl_08 stl_188">4,894  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:26.3243em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0337em;">Number of full-time employees at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.7439em;top:26.3243em;"><span class="stl_287 stl_08 stl_309">5,384  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.122em;top:26.3243em;"><span class="stl_287 stl_08 stl_821">5,196  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:27.7937em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">Remuneration to the Executive Management and the Board of Directors totaled DKK 33m (DKK 40m).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:29.2862em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:30.0437em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">Staff costs comprise remuneration, wages and salaries, pension contributions, etc., and share-based pay-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:30.7937em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0363em;">ment to the company’s employees, incl. termination benefits. The Group has no defined benefit plans.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.0343em;"><span class="stl_438 stl_92 stl_360" style="word-spacing:-0.0365em;">Employee shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.7887em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0396em;">Ambu offers all its employees the opportunity to acquire a number of shares based on a fixed percentage  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.5387em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">of their annual base salary. The number of shares with which an employee participates is matched free of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.2887em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0384em;">charge after two years (Restricted Stock Units).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.7887em;"><span class="stl_287 stl_08 stl_24" style="word-spacing:-0.0266em;">The fair value per share at grant date was DKK 109 (DKK 130).  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:9.2258em;"><span class="stl_418 stl_11 stl_96" style="word-spacing:-0.0484em;">2.3 Staff costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.4856em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0402em;">Staff costs are distributed between the Executive Management, the Board of Directors, and other employees  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2356em;"><span class="stl_287 stl_08 stl_46" style="word-spacing:-0.0308em;">as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.6943em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6877em;top:12.6868em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.947em;top:12.6868em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.2456em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">Remuneration, Executive Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6864em;top:14.2456em;"><span class="stl_287 stl_08 stl_189">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9352em;top:14.2456em;"><span class="stl_287 stl_08 stl_188">22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7802em;top:15.1668em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0527em;top:15.1668em;"><span class="stl_287 stl_08 stl_25">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3045em;top:15.1668em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.0881em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0327em;">Severance payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2208em;top:16.0881em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3039em;top:16.0881em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:17.0093em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0327em;">Severance pay, share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2202em;top:17.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3033em;top:17.0093em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:17.9231em;"><span class="stl_288 stl_11 stl_342" style="word-spacing:-0.0453em;">Staff costs, Executive Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6064em;top:17.9231em;"><span class="stl_288 stl_11 stl_189">26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8483em;top:17.9231em;"><span class="stl_288 stl_11 stl_155">33  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:19.3637em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">Wages and salaries  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8345em;top:19.3637em;"><span class="stl_287 stl_08 stl_250">1,775  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.032em;top:19.3637em;"><span class="stl_287 stl_08 stl_215">1,630  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:20.285em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0329em;">Pension contributions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3233em;top:20.285em;"><span class="stl_287 stl_08 stl_09">104  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9401em;top:20.285em;"><span class="stl_287 stl_08 stl_331">91  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:21.2062em;"><span class="stl_287 stl_08 stl_733" style="word-spacing:-0.0471em;">Social security costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3645em;top:21.2062em;"><span class="stl_287 stl_08 stl_365">131  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6533em;top:21.2062em;"><span class="stl_287 stl_08 stl_388">116  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:22.1275em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6839em;top:22.1275em;"><span class="stl_287 stl_08 stl_189">25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9364em;top:22.1275em;"><span class="stl_287 stl_08 stl_187">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:23.0487em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.0379em;">Remuneration, Board of Directors  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0502em;top:23.0487em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.302em;top:23.0487em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:23.9625em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0463em;">Total staff costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5676em;top:23.9625em;"><span class="stl_288 stl_11 stl_78">2,068  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8658em;top:23.9625em;"><span class="stl_288 stl_11 stl_383">1,897  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:25.4031em;"><span class="stl_287 stl_08 stl_146" style="word-spacing:-0.0321em;">Average number of employees during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.757em;top:25.4031em;"><span class="stl_287 stl_08 stl_61">5,233  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.0295em;top:25.4031em;"><span class="stl_287 stl_08 stl_188">4,894  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:26.3243em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0337em;">Number of full-time employees at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.7439em;top:26.3243em;"><span class="stl_287 stl_08 stl_309">5,384  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.122em;top:26.3243em;"><span class="stl_287 stl_08 stl_821">5,196  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:27.7937em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">Remuneration to the Executive Management and the Board of Directors totaled DKK 33m (DKK 40m).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:29.2862em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:30.0437em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">Staff costs comprise remuneration, wages and salaries, pension contributions, etc., and share-based pay-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:30.7937em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0363em;">ment to the company’s employees, incl. termination benefits. The Group has no defined benefit plans.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2258em;"><span class="stl_418 stl_11 stl_82" style="word-spacing:-0.0317em;">5.4 Share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5387em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0351em;">The Group's incentive-based remuneration to the Executive Management is described in the Remuneration  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2887em;"><span class="stl_287 stl_08 stl_38" style="word-spacing:-0.0321em;">Report 2024/25. Share-based payment is governed by the Remuneration Policy approved by the Board of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0387em;"><span class="stl_287 stl_08 stl_47" style="word-spacing:-0.0399em;">Directors. The Board of Directors does not receive share-based payment.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.5387em;"><span class="stl_287 stl_08 stl_37" style="word-spacing:-0.0312em;">The total expense in profit or loss for share-based payment was DKK 31m (DKK 26m).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.0343em;"><span class="stl_438 stl_92 stl_133" style="word-spacing:-0.0383em;">Performance Share Units (PSU)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.7887em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.034em;">In 2024/25 Ambu established a share-based long-term incentive plan for the Executive Management and key  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.5387em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">employees selected on the basis of job level, by way of granting PSUs. The financial target weighted into the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.2887em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.0299em;">performance was organic revenue growth for the Group (35%) and Endoscopy Solutions (35%), respectively,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.0387em;"><span class="stl_287 stl_08 stl_18" style="word-spacing:-0.0298em;">and EBIT margin before special items (30%), which was achieved by 53% of maximum potential.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.5387em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.03em;">In 2023/24 a PSU program was granted under the same conditions as for 2024/25. The financial target was  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.2887em;"><span class="stl_287 stl_08 stl_76" style="word-spacing:-0.0259em;">organic revenue growth (50%) and EBIT margin before special items (50%), which was achieved by 91% of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.0387em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0324em;">maximum potential.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.5387em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">The fair value per PSU at grant date was DKK </span><span class="stl_287 stl_08 stl_340">1</span><span class="stl_287 stl_08 stl_177" style="word-spacing:-0.0307em;">11 (DKK 99). PSU programs vest three years after grant.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.0343em;"><span class="stl_438 stl_92 stl_360" style="word-spacing:-0.0365em;">Employee shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.7887em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0396em;">Ambu offers all its employees the opportunity to acquire a number of shares based on a fixed percentage  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.5387em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">of their annual base salary. The number of shares with which an employee participates is matched free of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.2887em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0384em;">charge after two years (Restricted Stock Units).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.7887em;"><span class="stl_287 stl_08 stl_24" style="word-spacing:-0.0266em;">The fair value per share at grant date was DKK 109 (DKK 130).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:29.2812em;"><span class="stl_288 stl_11 stl_372" style="word-spacing:-0.0376em;">§ Accounting policy  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:30.0387em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">The fair value of Ambu’s share-based payment is expensed on an accrual basis. Fair value of equity-based  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:30.7887em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">schemes at the time of allocation is calculated according to recognized valuation models or methods. This  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:31.5387em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">value is expensed over the service period for each of the respective schemes and is taken to equity. On rec-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:32.2887em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">ognition of the fair value during the service period, account is taken of the number of employees who are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:33.0387em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">expected to obtain a final right to the scheme, including the conditions to which the allocation is subject.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:33.7887em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0395em;">This estimate is reassessed at the end of each reporting period so that only the number of rights expected to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:34.5387em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">be vested is recognized. Adjustments relating to previous periods are recognized in the period in which the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:35.2887em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0343em;">adjustment is made. The fair value per unit does not change.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.9769em;top:9.7581em;"><span class="stl_288 stl_11 stl_47">Executive  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4738em;top:9.7581em;"><span class="stl_288 stl_11 stl_566">Other  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.5081em;"><span class="stl_288 stl_11 stl_433" style="word-spacing:-0.0451em;">Shares outstanding  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.8776em;top:10.5081em;"><span class="stl_288 stl_11 stl_151" style="word-spacing:1.0178em;">Management employees  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.7919em;top:10.5081em;"><span class="stl_288 stl_11 stl_579">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0669em;"><span class="stl_287 stl_08 stl_45" style="word-spacing:-0.0331em;">Shares outstanding at 1 October, 2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.0351em;top:12.0669em;"><span class="stl_287 stl_08 stl_147">85,238  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5394em;top:12.0669em;"><span class="stl_287 stl_08 stl_924">1,870,411  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.4751em;top:12.0669em;"><span class="stl_287 stl_08 stl_265">1,955,649  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:12.9881em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0328em;">Shares granted during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.0657em;top:12.9881em;"><span class="stl_287 stl_08 stl_111">90,824  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9901em;top:12.9881em;"><span class="stl_287 stl_08 stl_491">277,388  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9819em;top:12.9881em;"><span class="stl_287 stl_08 stl_357">368,212  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:13.9094em;"><span class="stl_287 stl_08 stl_23" style="word-spacing:-0.0301em;">Transferred during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.8838em;top:13.9094em;"><span class="stl_287 stl_08 stl_181">-21,564  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.3257em;top:13.9094em;"><span class="stl_287 stl_08 stl_592">21,564  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:71.1419em;top:13.9094em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:14.8306em;"><span class="stl_287 stl_08 stl_177" style="word-spacing:-0.0306em;">Shares exercised during the year</span><sup style="top: -0.2079em;"><span class="stl_667 stl_08 stl_644" style="word-spacing:-0.0526em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.8746em;top:14.8308em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.1809em;top:14.8308em;z-index:310;"><span class="stl_287 stl_08 stl_444">-88</span><span class="stl_287 stl_08 stl_802">,</span><span class="stl_287 stl_08 stl_389">178  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.1952em;top:14.8308em;z-index:317;"><span class="stl_287 stl_08 stl_444">-88</span><span class="stl_287 stl_08 stl_802">,</span><span class="stl_287 stl_08 stl_389">178  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.449em;top:15.7521em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0323em;">Shared lapsed during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.8746em;top:15.7521em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.664em;top:15.7521em;"><span class="stl_287 stl_08 stl_473">-483,584  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6778em;top:15.7521em;"><span class="stl_287 stl_08 stl_473">-483,584  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4484em;top:16.6658em;"><span class="stl_288 stl_11 stl_396" style="word-spacing:-0.0404em;">Shares outstanding at 30 September 2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.4371em;top:16.6658em;"><span class="stl_288 stl_11 stl_384">154,498  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1515em;top:16.6658em;"><span class="stl_288 stl_11 stl_925" style="word-spacing:1.0481em;">1,597,601 1,752,099  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4484em;top:18.1064em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0328em;">Shares granted during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.1003em;top:18.1064em;"><span class="stl_287 stl_08 stl_520">53,981  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.0278em;top:18.1064em;"><span class="stl_287 stl_08 stl_261">247,390  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.0196em;top:18.1064em;"><span class="stl_287 stl_08 stl_385">301,371  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4484em;top:19.0277em;"><span class="stl_287 stl_08 stl_177" style="word-spacing:-0.0306em;">Shares exercised during the year</span><sup style="top: -0.2079em;"><span class="stl_667 stl_08 stl_644" style="word-spacing:-0.0525em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.1689em;top:19.0279em;"><span class="stl_287 stl_08 stl_513">-8,548  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9301em;top:19.0279em;"><span class="stl_287 stl_08 stl_926">-157,076  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8333em;top:19.0279em;"><span class="stl_287 stl_08 stl_927">-165,624  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:19.9491em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0323em;">Shared lapsed during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.8745em;top:19.9491em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.8339em;top:19.9491em;"><span class="stl_287 stl_08 stl_663">-941,733  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8501em;top:19.9491em;"><span class="stl_287 stl_08 stl_663">-941,733  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4483em;top:20.8629em;"><span class="stl_288 stl_11 stl_293" style="word-spacing:-0.0363em;">Shares outstanding at 30 September, 2025  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.5176em;top:20.8629em;"><span class="stl_288 stl_11 stl_788">199,931  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7689em;top:20.8629em;"><span class="stl_288 stl_11 stl_779">746,182  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8026em;top:20.8629em;"><span class="stl_288 stl_11 stl_928">946,113  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:22.3343em;"><span class="stl_390 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.9213em;top:22.2958em;"><span class="stl_391 stl_08 stl_510" style="word-spacing:-0.0392em;">The average market price on the date of exercise in 2024/25 was DKK 104 for PSUs and DKK 101 (DKK 131) for employee shares.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:22.8793em;"><span class="stl_391 stl_08 stl_322" style="word-spacing:-0.046em;">In 2024/25, the remaining legacy program of stock options expired, except for 82,228 stock options exercised at an average market  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.4628em;"><span class="stl_391 stl_08 stl_396" style="word-spacing:-0.0404em;">price of DKK 142 and an exercise price of DKK 134.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.8801em;top:25.3742em;"><span class="stl_288 stl_11 stl_31">Maximum  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5382em;top:25.3742em;"><span class="stl_288 stl_11 stl_39" style="word-spacing:0.6621em;">Accumu- Remaining  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.9445em;top:26.1242em;"><span class="stl_288 stl_11 stl_510" style="word-spacing:-0.0391em;">Shares at 30  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.8313em;top:26.1242em;"><span class="stl_288 stl_11 stl_159">market  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.2495em;top:26.1242em;"><span class="stl_288 stl_11 stl_347" style="word-spacing:-0.0434em;">lated cost</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:67.890em;top:26.1242em;"><span class="stl_288 stl_11 stl_298" style="word-spacing:-0.0373em;">value to be  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.8742em;"><span class="stl_288 stl_11 stl_557" style="word-spacing:-0.0447em;">Number of outstanding shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.3332em;top:26.8742em;"><span class="stl_288 stl_11 stl_294">September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.6007em;top:26.8742em;"><span class="stl_288 stl_11 stl_297" style="word-spacing:-0.038em;">value at</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.796em;top:26.8742em;"><span class="stl_288 stl_11 stl_372" style="word-spacing:1.1935em;">recognized expensed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.6242em;"><span class="stl_288 stl_11 stl_476" style="word-spacing:-0.0497em;">in Ambu A/S  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:57.1801em;top:27.6242em;"><span class="stl_288 stl_11 stl_487">2025  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.3663em;top:27.6242em;"><span class="stl_288 stl_11 stl_344">grant  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.8951em;top:27.6242em;"><span class="stl_288 stl_11 stl_408">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9107em;top:27.6242em;"><span class="stl_288 stl_11 stl_408">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:29.1829em;"><span class="stl_287 stl_08 stl_18" style="word-spacing:-0.0298em;">Program granted, (vesting)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:30.1042em;"><span class="stl_287 stl_08 stl_20" style="word-spacing:-0.0105em;">January 2023, (2026)</span><sup style="top: -0.2081em;"><span class="stl_667 stl_08 stl_137" style="word-spacing:-0.018em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.4364em;top:30.1042em;"><span class="stl_287 stl_08 stl_419">294,589  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.3327em;top:30.1042em;"><span class="stl_287 stl_08 stl_76">38  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.5914em;top:30.1042em;"><span class="stl_287 stl_08 stl_189">25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9733em;top:30.1042em;"><span class="stl_287 stl_08 stl_25">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4483em;top:31.0255em;"><span class="stl_287 stl_08 stl_282" style="word-spacing:-0.0124em;">January 2024, (2027)</span><sup style="top: -0.2081em;"><span class="stl_667 stl_08 stl_129" style="word-spacing:-0.0213em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.5409em;top:31.0255em;"><span class="stl_287 stl_08 stl_894">309,166  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.3509em;top:31.0255em;"><span class="stl_287 stl_08 stl_63">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.5921em;top:31.0255em;"><span class="stl_287 stl_08 stl_189">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6377em;top:31.0255em;"><span class="stl_287 stl_08 stl_352">13  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.449em;top:31.9468em;"><span class="stl_287 stl_08 stl_195" style="word-spacing:0.0018em;">May 2024, (2026)</span><sup style="top: -0.2081em;"><span class="stl_667 stl_08 stl_226" style="word-spacing:0.0032em;">2  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.8433em;top:31.9469em;"><span class="stl_287 stl_08 stl_253">46,959  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.7058em;top:31.9469em;"><span class="stl_287 stl_08 stl_25">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.9577em;top:31.9469em;"><span class="stl_287 stl_08 stl_25">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9733em;top:31.9469em;"><span class="stl_287 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4483em;top:32.8681em;"><span class="stl_287 stl_08 stl_330" style="word-spacing:-0.0126em;">January 2025, (2028)</span><sup style="top: -0.2081em;"><span class="stl_667 stl_08 stl_113" style="word-spacing:-0.0216em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.586em;top:32.8682em;"><span class="stl_287 stl_08 stl_722">217,782  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.3241em;top:32.8682em;"><span class="stl_287 stl_08 stl_416">46  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.9579em;top:32.8682em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6335em;top:32.8682em;"><span class="stl_287 stl_08 stl_364">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4491em;top:33.7894em;"><span class="stl_287 stl_08 stl_328" style="word-spacing:-0.0059em;">May 2025, (2027)</span><sup style="top: -0.2081em;"><span class="stl_667 stl_08 stl_442" style="word-spacing:-0.0102em;">2  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.9567em;top:33.7895em;"><span class="stl_287 stl_08 stl_929">77,617  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.706em;top:33.7895em;"><span class="stl_287 stl_08 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.9579em;top:33.7895em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9735em;top:33.7895em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4485em;top:34.7032em;"><span class="stl_288 stl_11 stl_510" style="word-spacing:-0.0393em;">Total number of shares outstanding  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.2835em;top:34.7032em;"><span class="stl_288 stl_11 stl_928">946,113  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.8698em;top:34.7032em;"><span class="stl_288 stl_11 stl_29">135  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.5273em;top:34.7032em;"><span class="stl_288 stl_11 stl_56">57  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.511em;top:34.7032em;"><span class="stl_288 stl_11 stl_300">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:36.1745em;"><span class="stl_390 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.9213em;top:36.1361em;"><span class="stl_391 stl_08 stl_542" style="word-spacing:-0.0497em;">The weighted average remaining contractual life of all outstanding PSUs was 1.2 years.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:36.7579em;"><span class="stl_390 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.9111em;top:36.7194em;"><span class="stl_391 stl_08 stl_633" style="word-spacing:-0.0493em;">The weighted average remaining contractual life of all outstanding employee shares was 1.3 years.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:9.2258em;"><span class="stl_418 stl_11 stl_96" style="word-spacing:-0.0484em;">2.3 Staff costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.5387em;"><span class="stl_287 stl_08 stl_31" style="word-spacing:-0.0419em;">The staff costs of the Group are distributed on the respective functions as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:11.9974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3569em;top:11.9899em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6163em;top:11.9899em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:13.5487em;"><span class="stl_287 stl_08 stl_632" style="word-spacing:-0.0442em;">Production costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9819em;top:13.5487em;"><span class="stl_287 stl_08 stl_188">487  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2969em;top:13.5487em;"><span class="stl_287 stl_08 stl_54">474  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.4699em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0387em;">Selling and distribution costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9988em;top:14.4699em;"><span class="stl_287 stl_08 stl_386">981  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2445em;top:14.4699em;"><span class="stl_287 stl_08 stl_57">869  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.3912em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">Research and development costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3576em;top:15.3912em;"><span class="stl_287 stl_08 stl_199">97  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6188em;top:15.3912em;"><span class="stl_287 stl_08 stl_71">81  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:16.3124em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0377em;">Management and administrative costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9951em;top:16.3124em;"><span class="stl_287 stl_08 stl_227">359  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2338em;top:16.3124em;"><span class="stl_287 stl_08 stl_208">339  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:17.2337em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8895em;top:17.2337em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.8101em;top:17.2337em;"><span class="stl_287 stl_08 stl_791">-1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:18.1474em;"><span class="stl_288 stl_11 stl_540" style="word-spacing:-0.0417em;">Total staff costs recognized in income statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.2963em;top:18.1474em;"><span class="stl_288 stl_11 stl_448">1,924  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5801em;top:18.1474em;"><span class="stl_288 stl_11 stl_368">1,762  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:19.588em;"><span class="stl_287 stl_08 stl_375" style="word-spacing:-0.0429em;">Staff costs included in intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0057em;top:19.588em;"><span class="stl_287 stl_08 stl_324">140  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2751em;top:19.588em;"><span class="stl_287 stl_08 stl_363">132  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:20.5093em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">Staff costs included in property, plant, and equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.7207em;top:20.5093em;"><span class="stl_287 stl_08 stl_25">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9726em;top:20.5093em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:21.423em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0463em;">Total staff costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.2382em;top:21.423em;"><span class="stl_288 stl_11 stl_78">2,068  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5363em;top:21.423em;"><span class="stl_288 stl_11 stl_833">1,897  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.4856em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0402em;">Staff costs are distributed between the Executive Management, the Board of Directors, and other employees  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2356em;"><span class="stl_287 stl_08 stl_46" style="word-spacing:-0.0308em;">as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.6943em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6877em;top:12.6868em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.947em;top:12.6868em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.2456em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">Remuneration, Executive Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6864em;top:14.2456em;"><span class="stl_287 stl_08 stl_189">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9352em;top:14.2456em;"><span class="stl_287 stl_08 stl_188">22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7802em;top:15.1668em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0527em;top:15.1668em;"><span class="stl_287 stl_08 stl_25">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3045em;top:15.1668em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.0881em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0327em;">Severance payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2208em;top:16.0881em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3039em;top:16.0881em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:17.0093em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0327em;">Severance pay, share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2202em;top:17.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3033em;top:17.0093em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:17.9231em;"><span class="stl_288 stl_11 stl_342" style="word-spacing:-0.0453em;">Staff costs, Executive Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6064em;top:17.9231em;"><span class="stl_288 stl_11 stl_189">26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8483em;top:17.9231em;"><span class="stl_288 stl_11 stl_155">33  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:19.3637em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">Wages and salaries  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8345em;top:19.3637em;"><span class="stl_287 stl_08 stl_250">1,775  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.032em;top:19.3637em;"><span class="stl_287 stl_08 stl_215">1,630  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:20.285em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0329em;">Pension contributions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3233em;top:20.285em;"><span class="stl_287 stl_08 stl_09">104  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9401em;top:20.285em;"><span class="stl_287 stl_08 stl_331">91  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:21.2062em;"><span class="stl_287 stl_08 stl_733" style="word-spacing:-0.0471em;">Social security costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3645em;top:21.2062em;"><span class="stl_287 stl_08 stl_365">131  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6533em;top:21.2062em;"><span class="stl_287 stl_08 stl_388">116  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:22.1275em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6839em;top:22.1275em;"><span class="stl_287 stl_08 stl_189">25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9364em;top:22.1275em;"><span class="stl_287 stl_08 stl_187">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:23.0487em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.0379em;">Remuneration, Board of Directors  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0502em;top:23.0487em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.302em;top:23.0487em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:23.9625em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0463em;">Total staff costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5676em;top:23.9625em;"><span class="stl_288 stl_11 stl_78">2,068  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8658em;top:23.9625em;"><span class="stl_288 stl_11 stl_383">1,897  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:25.4031em;"><span class="stl_287 stl_08 stl_146" style="word-spacing:-0.0321em;">Average number of employees during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.757em;top:25.4031em;"><span class="stl_287 stl_08 stl_61">5,233  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.0295em;top:25.4031em;"><span class="stl_287 stl_08 stl_188">4,894  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:26.3243em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0337em;">Number of full-time employees at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.7439em;top:26.3243em;"><span class="stl_287 stl_08 stl_309">5,384  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.122em;top:26.3243em;"><span class="stl_287 stl_08 stl_821">5,196  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:27.7937em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">Remuneration to the Executive Management and the Board of Directors totaled DKK 33m (DKK 40m).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:29.2862em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:30.0437em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">Staff costs comprise remuneration, wages and salaries, pension contributions, etc., and share-based pay-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:30.7937em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0363em;">ment to the company’s employees, incl. termination benefits. The Group has no defined benefit plans.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4491em;top:9.2256em;"><span class="stl_418 stl_11 stl_139" style="word-spacing:-0.0349em;">2.4 Depreciation, amortization, and impairment losses on non-current assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3569em;top:10.4899em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6163em;top:10.4899em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0487em;"><span class="stl_287 stl_08 stl_412" style="word-spacing:-0.0407em;">Amortization of intangible assets, identified in connection with business  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.7987em;"><span class="stl_287 stl_08 stl_79">combinations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3663em;top:12.7987em;"><span class="stl_287 stl_08 stl_63">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6488em;top:12.7987em;"><span class="stl_287 stl_08 stl_388">61  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:13.7199em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">Amortization of intangible development projects and other, incl. IT software  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0132em;top:13.7199em;"><span class="stl_287 stl_08 stl_435">182  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2551em;top:13.7199em;"><span class="stl_287 stl_08 stl_29">154  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:14.6412em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">Depreciation of property, plant, and equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3538em;top:14.6412em;"><span class="stl_287 stl_08 stl_55">82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6188em;top:14.6412em;"><span class="stl_287 stl_08 stl_435">75  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:15.5624em;"><span class="stl_287 stl_08 stl_285" style="word-spacing:-0.0387em;">Depreciation of right-of-use assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3676em;top:15.5624em;"><span class="stl_287 stl_08 stl_28">69  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5926em;top:15.5624em;"><span class="stl_287 stl_08 stl_432">65  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:16.4837em;"><span class="stl_287 stl_08 stl_344" style="word-spacing:-0.0424em;">Net loss on disposed non-current assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.7207em;top:16.4837em;"><span class="stl_287 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9726em;top:16.4837em;"><span class="stl_287 stl_08 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:17.4049em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0414em;">Impairment losses on non-current assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8888em;top:17.4049em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2207em;top:17.4049em;"><span class="stl_287 stl_08 stl_155">333  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:18.3187em;"><span class="stl_288 stl_11 stl_292" style="word-spacing:-0.0387em;">Total depreciation, amortization, and impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8813em;top:18.3187em;"><span class="stl_288 stl_11 stl_77">372  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.132em;top:18.3187em;"><span class="stl_288 stl_11 stl_381">696  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:19.7955em;"><span class="stl_287 stl_08 stl_23" style="word-spacing:-0.0301em;">In 2023/24, DKK 327m of the total impairment losses on non-current assets of DKK 333m relates to an impair-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:20.5455em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0372em;">ment of GI technologies, reflecting the longer time required to penetrate the market. The impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:21.2955em;"><span class="stl_287 stl_08 stl_158" style="word-spacing:-0.0269em;">are charged to 'special items'. Please refer to note 2.6.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:22.7955em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">Depreciation, amortization, and impairment losses have been allocated to the following functions:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.2544em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3569em;top:24.2469em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6163em;top:24.2469em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:25.8056em;"><span class="stl_287 stl_08 stl_632" style="word-spacing:-0.0442em;">Production costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3413em;top:25.8056em;"><span class="stl_287 stl_08 stl_432">85  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5913em;top:25.8056em;"><span class="stl_287 stl_08 stl_416">84  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.7269em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0387em;">Selling and distribution costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.362em;top:26.7269em;"><span class="stl_287 stl_08 stl_77">27  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6038em;top:26.7269em;"><span class="stl_287 stl_08 stl_188">22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.6481em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">Research and development costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0213em;top:27.6481em;"><span class="stl_287 stl_08 stl_308">210  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2732em;top:27.6481em;"><span class="stl_287 stl_08 stl_308">210  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.5694em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0377em;">Management and administrative costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3513em;top:28.5694em;"><span class="stl_287 stl_08 stl_137">50  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5938em;top:28.5694em;"><span class="stl_287 stl_08 stl_322">48  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:29.4906em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8901em;top:29.4906em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2357em;top:29.4906em;"><span class="stl_287 stl_08 stl_32">332  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:30.4044em;"><span class="stl_288 stl_11 stl_292" style="word-spacing:-0.0387em;">Total depreciation, amortization, and impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8826em;top:30.4044em;"><span class="stl_288 stl_11 stl_77">372  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1332em;top:30.4044em;"><span class="stl_288 stl_11 stl_381">696  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:31.8737em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:32.6312em;"><span class="stl_287 stl_08 stl_78" style="word-spacing:-0.028em;">For a description of accounting policies, reference is made to notes 3.1, 3.2, and 3.3.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.5387em;"><span class="stl_287 stl_08 stl_31" style="word-spacing:-0.0419em;">The staff costs of the Group are distributed on the respective functions as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:11.9974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3569em;top:11.9899em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6163em;top:11.9899em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:13.5487em;"><span class="stl_287 stl_08 stl_632" style="word-spacing:-0.0442em;">Production costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9819em;top:13.5487em;"><span class="stl_287 stl_08 stl_188">487  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2969em;top:13.5487em;"><span class="stl_287 stl_08 stl_54">474  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.4699em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0387em;">Selling and distribution costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9988em;top:14.4699em;"><span class="stl_287 stl_08 stl_386">981  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2445em;top:14.4699em;"><span class="stl_287 stl_08 stl_57">869  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.3912em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">Research and development costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3576em;top:15.3912em;"><span class="stl_287 stl_08 stl_199">97  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6188em;top:15.3912em;"><span class="stl_287 stl_08 stl_71">81  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:16.3124em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0377em;">Management and administrative costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9951em;top:16.3124em;"><span class="stl_287 stl_08 stl_227">359  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2338em;top:16.3124em;"><span class="stl_287 stl_08 stl_208">339  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:17.2337em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8895em;top:17.2337em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.8101em;top:17.2337em;"><span class="stl_287 stl_08 stl_791">-1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:18.1474em;"><span class="stl_288 stl_11 stl_540" style="word-spacing:-0.0417em;">Total staff costs recognized in income statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.2963em;top:18.1474em;"><span class="stl_288 stl_11 stl_448">1,924  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5801em;top:18.1474em;"><span class="stl_288 stl_11 stl_368">1,762  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:19.588em;"><span class="stl_287 stl_08 stl_375" style="word-spacing:-0.0429em;">Staff costs included in intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0057em;top:19.588em;"><span class="stl_287 stl_08 stl_324">140  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2751em;top:19.588em;"><span class="stl_287 stl_08 stl_363">132  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:20.5093em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">Staff costs included in property, plant, and equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.7207em;top:20.5093em;"><span class="stl_287 stl_08 stl_25">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9726em;top:20.5093em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:21.423em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0463em;">Total staff costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.2382em;top:21.423em;"><span class="stl_288 stl_11 stl_78">2,068  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5363em;top:21.423em;"><span class="stl_288 stl_11 stl_833">1,897  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.4856em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0402em;">Staff costs are distributed between the Executive Management, the Board of Directors, and other employees  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2356em;"><span class="stl_287 stl_08 stl_46" style="word-spacing:-0.0308em;">as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.6943em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6877em;top:12.6868em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.947em;top:12.6868em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.2456em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">Remuneration, Executive Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6864em;top:14.2456em;"><span class="stl_287 stl_08 stl_189">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9352em;top:14.2456em;"><span class="stl_287 stl_08 stl_188">22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7802em;top:15.1668em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0527em;top:15.1668em;"><span class="stl_287 stl_08 stl_25">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3045em;top:15.1668em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.0881em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0327em;">Severance payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2208em;top:16.0881em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3039em;top:16.0881em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:17.0093em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0327em;">Severance pay, share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2202em;top:17.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3033em;top:17.0093em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:17.9231em;"><span class="stl_288 stl_11 stl_342" style="word-spacing:-0.0453em;">Staff costs, Executive Management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6064em;top:17.9231em;"><span class="stl_288 stl_11 stl_189">26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8483em;top:17.9231em;"><span class="stl_288 stl_11 stl_155">33  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:19.3637em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">Wages and salaries  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8345em;top:19.3637em;"><span class="stl_287 stl_08 stl_250">1,775  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.032em;top:19.3637em;"><span class="stl_287 stl_08 stl_215">1,630  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:20.285em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0329em;">Pension contributions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3233em;top:20.285em;"><span class="stl_287 stl_08 stl_09">104  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9401em;top:20.285em;"><span class="stl_287 stl_08 stl_331">91  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:21.2062em;"><span class="stl_287 stl_08 stl_733" style="word-spacing:-0.0471em;">Social security costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3645em;top:21.2062em;"><span class="stl_287 stl_08 stl_365">131  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6533em;top:21.2062em;"><span class="stl_287 stl_08 stl_388">116  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:22.1275em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6839em;top:22.1275em;"><span class="stl_287 stl_08 stl_189">25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9364em;top:22.1275em;"><span class="stl_287 stl_08 stl_187">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:23.0487em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.0379em;">Remuneration, Board of Directors  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0502em;top:23.0487em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.302em;top:23.0487em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:23.9625em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0463em;">Total staff costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5676em;top:23.9625em;"><span class="stl_288 stl_11 stl_78">2,068  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8658em;top:23.9625em;"><span class="stl_288 stl_11 stl_383">1,897  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:25.4031em;"><span class="stl_287 stl_08 stl_146" style="word-spacing:-0.0321em;">Average number of employees during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.757em;top:25.4031em;"><span class="stl_287 stl_08 stl_61">5,233  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.0295em;top:25.4031em;"><span class="stl_287 stl_08 stl_188">4,894  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:26.3243em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0337em;">Number of full-time employees at the end of the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.7439em;top:26.3243em;"><span class="stl_287 stl_08 stl_309">5,384  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.122em;top:26.3243em;"><span class="stl_287 stl_08 stl_821">5,196  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:27.7937em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">Remuneration to the Executive Management and the Board of Directors totaled DKK 33m (DKK 40m).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:29.2862em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:30.0437em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">Staff costs comprise remuneration, wages and salaries, pension contributions, etc., and share-based pay-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:30.7937em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0363em;">ment to the company’s employees, incl. termination benefits. The Group has no defined benefit plans.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3569em;top:10.4899em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6163em;top:10.4899em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0487em;"><span class="stl_287 stl_08 stl_412" style="word-spacing:-0.0407em;">Amortization of intangible assets, identified in connection with business  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.7987em;"><span class="stl_287 stl_08 stl_79">combinations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3663em;top:12.7987em;"><span class="stl_287 stl_08 stl_63">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6488em;top:12.7987em;"><span class="stl_287 stl_08 stl_388">61  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:13.7199em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">Amortization of intangible development projects and other, incl. IT software  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0132em;top:13.7199em;"><span class="stl_287 stl_08 stl_435">182  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2551em;top:13.7199em;"><span class="stl_287 stl_08 stl_29">154  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:14.6412em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">Depreciation of property, plant, and equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3538em;top:14.6412em;"><span class="stl_287 stl_08 stl_55">82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6188em;top:14.6412em;"><span class="stl_287 stl_08 stl_435">75  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:15.5624em;"><span class="stl_287 stl_08 stl_285" style="word-spacing:-0.0387em;">Depreciation of right-of-use assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3676em;top:15.5624em;"><span class="stl_287 stl_08 stl_28">69  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5926em;top:15.5624em;"><span class="stl_287 stl_08 stl_432">65  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:16.4837em;"><span class="stl_287 stl_08 stl_344" style="word-spacing:-0.0424em;">Net loss on disposed non-current assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.7207em;top:16.4837em;"><span class="stl_287 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9726em;top:16.4837em;"><span class="stl_287 stl_08 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:17.4049em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0414em;">Impairment losses on non-current assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8888em;top:17.4049em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2207em;top:17.4049em;"><span class="stl_287 stl_08 stl_155">333  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:18.3187em;"><span class="stl_288 stl_11 stl_292" style="word-spacing:-0.0387em;">Total depreciation, amortization, and impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8813em;top:18.3187em;"><span class="stl_288 stl_11 stl_77">372  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.132em;top:18.3187em;"><span class="stl_288 stl_11 stl_381">696  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:19.7955em;"><span class="stl_287 stl_08 stl_23" style="word-spacing:-0.0301em;">In 2023/24, DKK 327m of the total impairment losses on non-current assets of DKK 333m relates to an impair-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:20.5455em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0372em;">ment of GI technologies, reflecting the longer time required to penetrate the market. The impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:21.2955em;"><span class="stl_287 stl_08 stl_158" style="word-spacing:-0.0269em;">are charged to 'special items'. Please refer to note 2.6.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:22.7955em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">Depreciation, amortization, and impairment losses have been allocated to the following functions:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.2544em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3569em;top:24.2469em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6163em;top:24.2469em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:25.8056em;"><span class="stl_287 stl_08 stl_632" style="word-spacing:-0.0442em;">Production costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3413em;top:25.8056em;"><span class="stl_287 stl_08 stl_432">85  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5913em;top:25.8056em;"><span class="stl_287 stl_08 stl_416">84  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.7269em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0387em;">Selling and distribution costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.362em;top:26.7269em;"><span class="stl_287 stl_08 stl_77">27  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6038em;top:26.7269em;"><span class="stl_287 stl_08 stl_188">22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.6481em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">Research and development costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0213em;top:27.6481em;"><span class="stl_287 stl_08 stl_308">210  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2732em;top:27.6481em;"><span class="stl_287 stl_08 stl_308">210  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.5694em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0377em;">Management and administrative costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3513em;top:28.5694em;"><span class="stl_287 stl_08 stl_137">50  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5938em;top:28.5694em;"><span class="stl_287 stl_08 stl_322">48  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:29.4906em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8901em;top:29.4906em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2357em;top:29.4906em;"><span class="stl_287 stl_08 stl_32">332  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:30.4044em;"><span class="stl_288 stl_11 stl_292" style="word-spacing:-0.0387em;">Total depreciation, amortization, and impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8826em;top:30.4044em;"><span class="stl_288 stl_11 stl_77">372  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1332em;top:30.4044em;"><span class="stl_288 stl_11 stl_381">696  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:31.8737em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:32.6312em;"><span class="stl_287 stl_08 stl_78" style="word-spacing:-0.028em;">For a description of accounting policies, reference is made to notes 3.1, 3.2, and 3.3.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:9.2258em;"><span class="stl_418 stl_11 stl_160" style="word-spacing:-0.0318em;">2.6 Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3569em;top:10.4899em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6163em;top:10.4899em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0487em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0337em;">Impairment of acquired technologies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8901em;top:12.0487em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2313em;top:12.0487em;"><span class="stl_287 stl_08 stl_137">206  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:12.9699em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">Impairment of completed development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8894em;top:12.9699em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2851em;top:12.9699em;"><span class="stl_287 stl_08 stl_813">121  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:13.8912em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0349em;">Impairment of plant and machinery  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8888em;top:13.8912em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9719em;top:13.8912em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4469em;top:14.8124em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">Write-down of inventories  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8882em;top:14.8124em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9713em;top:14.8124em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4463em;top:15.7337em;"><span class="stl_287 stl_08 stl_207" style="word-spacing:-0.0412em;">Severance costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8876em;top:15.7337em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.8082em;top:15.7337em;"><span class="stl_287 stl_08 stl_791">-1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4457em;top:16.6474em;"><span class="stl_288 stl_11 stl_38" style="word-spacing:-0.0321em;">Total special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8782em;top:16.6474em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1013em;top:16.6474em;"><span class="stl_288 stl_11 stl_146">334  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4451em;top:18.1243em;"><span class="stl_287 stl_08 stl_158" style="word-spacing:-0.0268em;">In 2024/25, no special items are recognized.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4451em;top:19.6243em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0332em;">In 2023/24, special items represented a net expense of DKK 334m, relating to an impairment within gastro-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4451em;top:20.3743em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">enterology (GI). A strategic review was performed across the GI endoscopy business, resulting in revised  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4451em;top:21.1243em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">assumptions, based on the longer time required to penetrate this market.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4451em;top:22.6243em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">Impairment tests were carried out for each GI technology. 'Colonoscopy' and 'Duodenoscopy' were written  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4451em;top:23.3743em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">down to their recoverable amounts, and 'Cholangio' was fully written down, due to project plans being put on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4451em;top:24.1243em;"><span class="stl_287 stl_08 stl_160" style="word-spacing:-0.0318em;">hold as a consequence of the strategic review, resulting in total impairment losses of DKK 327m.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4451em;top:25.6243em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">Furthermore, related assets were revaluated, resulting in excess production equipment and excess invento-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4451em;top:26.3743em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0365em;">ries written down by, respectively, DKK 5m and DKK 3m.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.4856em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">If special items had been recognized in operating profit (EBIT) before special items, the impact would have  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2356em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">been allocated to the following functions:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.6943em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6877em;top:12.6868em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.947em;top:12.6868em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.2456em;"><span class="stl_287 stl_08 stl_632" style="word-spacing:-0.0442em;">Production costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2208em;top:14.2456em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3039em;top:14.2456em;"><span class="stl_287 stl_08 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:15.1668em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">Development costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2202em;top:15.1668em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5827em;top:15.1668em;"><span class="stl_287 stl_08 stl_381">326  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:16.0806em;"><span class="stl_288 stl_11 stl_38" style="word-spacing:-0.0321em;">Total special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2114em;top:16.0806em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.4345em;top:16.0806em;"><span class="stl_288 stl_11 stl_146">334  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:17.55em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:18.3075em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Special items comprise costs or income that cannot be attributed directly to the Group's ordinary activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:19.0575em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0357em;">and are of a non-recurring of nature, e.g., strategic re-evaluation. Such costs include the cost related to sig-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:19.8075em;"><span class="stl_287 stl_08 stl_396" style="word-spacing:-0.0405em;">nificant restructuring of the cost base and processes, as well as restructuring costs related to resignation of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:20.5575em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0339em;">employees. Further special items include redundancy costs' related to the Group's Management, impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:21.3075em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0373em;">of assets, and remeasurement of technology debt.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:22.8075em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">These items are presented separately to facilitate the comparability of the income statement and to provide a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:23.5575em;"><span class="stl_287 stl_08 stl_97" style="word-spacing:-0.0422em;">better picture of the operating results.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4491em;top:9.2256em;"><span class="stl_418 stl_11 stl_139" style="word-spacing:-0.0349em;">2.4 Depreciation, amortization, and impairment losses on non-current assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3569em;top:10.4899em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6163em;top:10.4899em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0487em;"><span class="stl_287 stl_08 stl_412" style="word-spacing:-0.0407em;">Amortization of intangible assets, identified in connection with business  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.7987em;"><span class="stl_287 stl_08 stl_79">combinations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3663em;top:12.7987em;"><span class="stl_287 stl_08 stl_63">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6488em;top:12.7987em;"><span class="stl_287 stl_08 stl_388">61  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:13.7199em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">Amortization of intangible development projects and other, incl. IT software  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0132em;top:13.7199em;"><span class="stl_287 stl_08 stl_435">182  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2551em;top:13.7199em;"><span class="stl_287 stl_08 stl_29">154  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:14.6412em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">Depreciation of property, plant, and equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3538em;top:14.6412em;"><span class="stl_287 stl_08 stl_55">82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6188em;top:14.6412em;"><span class="stl_287 stl_08 stl_435">75  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:15.5624em;"><span class="stl_287 stl_08 stl_285" style="word-spacing:-0.0387em;">Depreciation of right-of-use assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3676em;top:15.5624em;"><span class="stl_287 stl_08 stl_28">69  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5926em;top:15.5624em;"><span class="stl_287 stl_08 stl_432">65  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:16.4837em;"><span class="stl_287 stl_08 stl_344" style="word-spacing:-0.0424em;">Net loss on disposed non-current assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.7207em;top:16.4837em;"><span class="stl_287 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9726em;top:16.4837em;"><span class="stl_287 stl_08 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:17.4049em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0414em;">Impairment losses on non-current assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8888em;top:17.4049em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2207em;top:17.4049em;"><span class="stl_287 stl_08 stl_155">333  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:18.3187em;"><span class="stl_288 stl_11 stl_292" style="word-spacing:-0.0387em;">Total depreciation, amortization, and impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8813em;top:18.3187em;"><span class="stl_288 stl_11 stl_77">372  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.132em;top:18.3187em;"><span class="stl_288 stl_11 stl_381">696  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:19.7955em;"><span class="stl_287 stl_08 stl_23" style="word-spacing:-0.0301em;">In 2023/24, DKK 327m of the total impairment losses on non-current assets of DKK 333m relates to an impair-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:20.5455em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0372em;">ment of GI technologies, reflecting the longer time required to penetrate the market. The impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:21.2955em;"><span class="stl_287 stl_08 stl_158" style="word-spacing:-0.0269em;">are charged to 'special items'. Please refer to note 2.6.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:22.7955em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">Depreciation, amortization, and impairment losses have been allocated to the following functions:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.2544em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3569em;top:24.2469em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6163em;top:24.2469em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:25.8056em;"><span class="stl_287 stl_08 stl_632" style="word-spacing:-0.0442em;">Production costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3413em;top:25.8056em;"><span class="stl_287 stl_08 stl_432">85  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5913em;top:25.8056em;"><span class="stl_287 stl_08 stl_416">84  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.7269em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0387em;">Selling and distribution costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.362em;top:26.7269em;"><span class="stl_287 stl_08 stl_77">27  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6038em;top:26.7269em;"><span class="stl_287 stl_08 stl_188">22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.6481em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">Research and development costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0213em;top:27.6481em;"><span class="stl_287 stl_08 stl_308">210  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2732em;top:27.6481em;"><span class="stl_287 stl_08 stl_308">210  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.5694em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0377em;">Management and administrative costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3513em;top:28.5694em;"><span class="stl_287 stl_08 stl_137">50  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5938em;top:28.5694em;"><span class="stl_287 stl_08 stl_322">48  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:29.4906em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8901em;top:29.4906em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2357em;top:29.4906em;"><span class="stl_287 stl_08 stl_32">332  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:30.4044em;"><span class="stl_288 stl_11 stl_292" style="word-spacing:-0.0387em;">Total depreciation, amortization, and impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8826em;top:30.4044em;"><span class="stl_288 stl_11 stl_77">372  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1332em;top:30.4044em;"><span class="stl_288 stl_11 stl_381">696  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:31.8737em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:32.6312em;"><span class="stl_287 stl_08 stl_78" style="word-spacing:-0.028em;">For a description of accounting policies, reference is made to notes 3.1, 3.2, and 3.3.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2256em;z-index:47;"><span class="stl_418 stl_11 stl_33">3</span><span class="stl_418 stl_11 stl_893">.</span><span class="stl_418 stl_11 stl_25">1 </span><span class="stl_418 stl_11 stl_297">G</span><span class="stl_418 stl_11 stl_148">oodwill  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.5802em;top:10.4899em;"><span class="stl_288 stl_11 stl_283">30.09.25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.8289em;top:10.4899em;"><span class="stl_288 stl_11 stl_219">30.09.24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0487em;"><span class="stl_287 stl_08 stl_536" style="word-spacing:-0.0456em;">Cost at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8127em;top:12.0487em;"><span class="stl_287 stl_08 stl_386">1,527  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.0308em;top:12.0487em;"><span class="stl_287 stl_08 stl_188">1,565  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.9699em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4645em;top:12.9699em;"><span class="stl_287 stl_08 stl_309">-30  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7183em;top:12.9699em;"><span class="stl_287 stl_08 stl_297">-38  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.8837em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0426em;">Cost at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.6152em;top:13.8837em;"><span class="stl_288 stl_11 stl_348">1,497  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8702em;top:13.8837em;"><span class="stl_288 stl_11 stl_900">1,527  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.3605em;"><span class="stl_287 stl_08 stl_143" style="word-spacing:-0.0276em;">The carrying amount of goodwill at DKK 1,497m (DKK 1,527m) stems primarily from the business combina-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.1105em;"><span class="stl_287 stl_08 stl_201" style="word-spacing:-0.0236em;">tions of Invendo Medical GmbH in 2017 and King Systems Corp. in 2013.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.603em;"><span class="stl_288 stl_11 stl_292" style="word-spacing:-0.0385em;">! Material accounting judgement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.3562em;"><span class="stl_438 stl_92 stl_299" style="word-spacing:-0.0413em;">Impairment testing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.1105em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0325em;">As described in section 2.1, the Ambu Group is managed as one single unit, for which reason the Manage-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.8605em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0326em;">ment monitors goodwill at Group level. Consequently, the impairment test is based on the Group’s market  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.6105em;"><span class="stl_287 stl_08 stl_61">value.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.1105em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0345em;">The market value of Ambu A/S’s shares is based on the quoted price of DKK 92.60 per share on Nasdaq  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.8605em;"><span class="stl_287 stl_08 stl_114" style="word-spacing:-0.0209em;">Copenhagen at 30 September 2025 (DKK 131.15 per share at 30 September 2024). Based on this market value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.6105em;"><span class="stl_287 stl_08 stl_129" style="word-spacing:-0.0214em;">approximation, Ambu's equity value is DKK 24.7bn (DKK 34.9bn), which leaves DKK 18.7bn (DKK 29.3bn) in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.3605em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0347em;">headroom to the carrying amount of equity. Therefore, the Management has concluded that the net selling  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.1105em;"><span class="stl_287 stl_08 stl_38" style="word-spacing:-0.0323em;">price, calculated on the basis of a level 1 fair value measurement, proves that there is no indication of impair-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.8605em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0337em;">ment of goodwill.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:10.478em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.2355em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0357em;">On recognition, goodwill represents the excess cost of an acquisition over the fair value of the identifiable net  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.9855em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0326em;">assets of the acquired company. Subsequently, goodwill is measured at cost less accumulated impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:12.7355em;"><span class="stl_287 stl_08 stl_294" style="word-spacing:-0.0406em;">losses. Goodwill is not amortized.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.2355em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">At the time of acquisition, goodwill is attributed to the cash-generating units which are expected to benefit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.9855em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.0301em;">from the business combination; however, not to a level lower than the segment level and the level at which  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:15.7355em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">goodwill is monitored as part of the internal financial management. The Management has identified one  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:16.4855em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0353em;">operating segment as being the whole Group to which goodwill is allocated.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:17.9855em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0389em;">The carrying amount of goodwill is tested for impairment together with the other non-current assets of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:18.7355em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0341em;">cash-generating unit to which goodwill has been allocated (being the whole Group) and is impaired to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:19.4855em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0339em;">recoverable amount in the income statement if the carrying amount is higher. Impairment of goodwill is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.2355em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0367em;">recognized as a separate item in the income statement. Goodwill is tested annually for impairment, the first  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.9855em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0347em;">time being by the end of the year of recognition in connection with a business combination.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:22.4855em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">The impairment test of goodwill is based on the quoted price on Nasdaq Copenhagen at the balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:23.2355em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0331em;">date. Therefore the impairment test is taking base in level 1 in accordance with the fair value hierarchy.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:24.7355em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">Impairment of goodwill is not reversed. Impairment of other assets is reversed in so far as the assumptions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:25.4855em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">and estimates on the basis of which the impairment is made have been changed. Impairments are only  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.2355em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">reversed in so far as the new carrying amount of the asset does not exceed the carrying amount of the asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.9855em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">after amortization, had the asset not been impaired.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2256em;"><span class="stl_418 stl_11 stl_360" style="word-spacing:-0.0364em;">3.2 Other intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.9877em;top:10.0175em;"><span class="stl_288 stl_11 stl_178">Acquired  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.5683em;top:10.7675em;"><span class="stl_288 stl_11 stl_475">technologies,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.2614em;top:10.7675em;"><span class="stl_288 stl_11 stl_82">Development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.2164em;top:11.5175em;"><span class="stl_288 stl_11 stl_334">trademarks  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.332em;top:11.5175em;"><span class="stl_288 stl_11 stl_409">Completed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.5777em;top:11.5175em;"><span class="stl_288 stl_11 stl_426" style="word-spacing:-0.0476em;">projects and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.982em;top:12.2675em;"><span class="stl_288 stl_11 stl_93" style="word-spacing:-0.052em;">and cust.</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.649em;top:12.2675em;"><span class="stl_288 stl_11 stl_82">development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.0426em;top:12.2675em;"><span class="stl_288 stl_11 stl_147" style="word-spacing:-0.0324em;">Other, incl.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.6589em;top:12.2675em;"><span class="stl_288 stl_11 stl_420" style="word-spacing:-0.0509em;">other assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.025em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0777em;top:13.0175em;"><span class="stl_288 stl_11 stl_525">relations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2383em;top:13.0175em;"><span class="stl_288 stl_11 stl_443">projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.0026em;top:13.0175em;"><span class="stl_288 stl_11 stl_901" style="word-spacing:-0.0577em;">IT software  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.9458em;top:13.0175em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0425em;">in progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.6977em;top:13.0175em;"><span class="stl_288 stl_11 stl_579">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:14.545em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:15.4269em;"><span class="stl_287 stl_08 stl_536" style="word-spacing:-0.0456em;">Cost at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7689em;top:15.4269em;"><span class="stl_287 stl_08 stl_108">923  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2739em;top:15.4269em;"><span class="stl_287 stl_08 stl_338">1,762  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.467em;top:15.4269em;"><span class="stl_287 stl_08 stl_199">282  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.4108em;top:15.4269em;"><span class="stl_287 stl_08 stl_112">350  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.652em;top:15.4269em;"><span class="stl_287 stl_08 stl_811">3,317  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:16.3012em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.3308em;top:16.3012em;"><span class="stl_287 stl_08 stl_356">-7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6389em;top:16.3012em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.3633em;top:16.3012em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:16.3012em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.7008em;top:16.3012em;"><span class="stl_287 stl_08 stl_356">-7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:17.1756em;"><span class="stl_287 stl_08 stl_45" style="word-spacing:-0.033em;">Additions during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6783em;top:17.1756em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6389em;top:17.1756em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.3633em;top:17.1756em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.457em;top:17.1756em;"><span class="stl_287 stl_08 stl_726">267  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.1814em;top:17.1756em;"><span class="stl_287 stl_08 stl_726">267  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:18.05em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">Disposals during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6783em;top:18.05em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6389em;top:18.05em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.5926em;top:18.05em;"><span class="stl_287 stl_08 stl_460">-60  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:18.05em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.2777em;top:18.05em;"><span class="stl_287 stl_08 stl_460">-60  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:18.9244em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.0301em;">Transferred during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6783em;top:18.9244em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.7345em;top:18.9244em;"><span class="stl_287 stl_08 stl_55">246  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.8339em;top:18.9244em;"><span class="stl_287 stl_08 stl_320">52  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.2264em;top:18.9244em;"><span class="stl_287 stl_08 stl_546">-298  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0483em;top:18.9244em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:19.7912em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0426em;">Cost at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.6876em;top:19.7912em;"><span class="stl_288 stl_11 stl_56">916  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9733em;top:19.7912em;"><span class="stl_288 stl_11 stl_475">2,008  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.3808em;top:19.7912em;"><span class="stl_288 stl_11 stl_902">274  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3426em;top:19.7912em;"><span class="stl_288 stl_11 stl_356">319  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.4658em;top:19.7912em;"><span class="stl_288 stl_11 stl_477">3,517  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:21.1375em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.04em;">Amortization and impairment losses at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.5689em;top:21.1375em;"><span class="stl_287 stl_08 stl_204">-547  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.5083em;top:21.1375em;"><span class="stl_287 stl_08 stl_297">-857  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.3033em;top:21.1375em;"><span class="stl_287 stl_08 stl_903">-210  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:21.1375em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.5452em;top:21.1375em;"><span class="stl_287 stl_08 stl_905">-1,614  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:22.0119em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.5095em;top:22.0119em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6389em;top:22.0119em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.1945em;top:22.0119em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:22.0119em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.8795em;top:22.0119em;"><span class="stl_287 stl_08 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:22.8862em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">Disposals during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6783em;top:22.8862em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6389em;top:22.8862em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.8189em;top:22.8862em;"><span class="stl_287 stl_08 stl_155">60  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:22.8862em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5039em;top:22.8862em;"><span class="stl_287 stl_08 stl_155">60  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:23.7606em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">Amortization for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.942em;top:23.7606em;"><span class="stl_287 stl_08 stl_210">-37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.6083em;top:23.7606em;"><span class="stl_287 stl_08 stl_906">-157  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.637em;top:23.7606em;"><span class="stl_287 stl_08 stl_253">-25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:23.7606em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.0001em;top:23.7606em;"><span class="stl_287 stl_08 stl_841">-219  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.6275em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0417em;">Amortization and impairment losses at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.4514em;top:24.6275em;"><span class="stl_288 stl_11 stl_189">-577  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.8976em;top:24.6275em;"><span class="stl_288 stl_11 stl_907">-1,014  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.242em;top:24.6275em;"><span class="stl_288 stl_11 stl_904">-174  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3145em;top:24.6275em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.3051em;top:24.6275em;"><span class="stl_288 stl_11 stl_841">-1,765  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.5018em;"><span class="stl_288 stl_11 stl_97" style="word-spacing:-0.0422em;">Carrying amount at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.6501em;top:25.5018em;"><span class="stl_288 stl_11 stl_126">339  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.6133em;top:25.5018em;"><span class="stl_288 stl_11 stl_579">994  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.3458em;top:25.5018em;"><span class="stl_288 stl_11 stl_25">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.342em;top:25.5018em;"><span class="stl_288 stl_11 stl_356">319  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.477em;top:25.5018em;"><span class="stl_288 stl_11 stl_435">1,752  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.25em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.1318em;"><span class="stl_287 stl_08 stl_536" style="word-spacing:-0.0456em;">Cost at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7664em;top:28.1318em;"><span class="stl_287 stl_08 stl_135">929  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2276em;top:28.1318em;"><span class="stl_287 stl_08 stl_331">1,492  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.4676em;top:28.1318em;"><span class="stl_287 stl_08 stl_253">257  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3783em;top:28.1318em;"><span class="stl_287 stl_08 stl_827">444  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.6864em;top:28.1318em;"><span class="stl_287 stl_08 stl_776">3,122  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:29.0062em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.282em;top:29.0062em;"><span class="stl_287 stl_08 stl_353">-6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.4689em;top:29.0062em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.362em;top:29.0062em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.9914em;top:29.0062em;"><span class="stl_287 stl_08 stl_791">-1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.652em;top:29.0062em;"><span class="stl_287 stl_08 stl_353">-6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:29.8806em;"><span class="stl_287 stl_08 stl_45" style="word-spacing:-0.033em;">Additions during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.677em;top:29.8806em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6376em;top:29.8806em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.362em;top:29.8806em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.4314em;top:29.8806em;"><span class="stl_287 stl_08 stl_274">201  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.1558em;top:29.8806em;"><span class="stl_287 stl_08 stl_274">201  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:30.755em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.0301em;">Transferred during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6764em;top:30.755em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.7558em;top:30.755em;"><span class="stl_287 stl_08 stl_261">269  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.8264em;top:30.755em;"><span class="stl_287 stl_08 stl_189">25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.2364em;top:30.755em;"><span class="stl_287 stl_08 stl_331">-294  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0464em;top:30.755em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:31.6218em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0426em;">Cost at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.6445em;top:31.6218em;"><span class="stl_288 stl_11 stl_112">923  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0758em;top:31.6218em;"><span class="stl_288 stl_11 stl_368">1,762  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.3339em;top:31.6218em;"><span class="stl_288 stl_11 stl_108">282  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.2883em;top:31.6218em;"><span class="stl_288 stl_11 stl_76">350  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.4514em;top:31.6218em;"><span class="stl_288 stl_11 stl_307">3,317  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:32.9681em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.04em;">Amortization and impairment losses at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.5795em;top:32.9681em;"><span class="stl_287 stl_08 stl_593">-286  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4833em;top:32.9681em;"><span class="stl_287 stl_08 stl_674">-604  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.3133em;top:32.9681em;"><span class="stl_287 stl_08 stl_869">-186  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3214em;top:32.9681em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.5176em;top:32.9681em;"><span class="stl_287 stl_08 stl_908">-1,076  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:33.8425em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.5064em;top:33.8425em;"><span class="stl_287 stl_08 stl_25">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6358em;top:33.8425em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.0001em;top:33.8425em;"><span class="stl_287 stl_08 stl_77">-2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3208em;top:33.8425em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.8764em;top:33.8425em;"><span class="stl_287 stl_08 stl_25">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:34.7168em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">Impairment losses for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.5733em;top:34.7168em;"><span class="stl_287 stl_08 stl_102">-206  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.617em;top:34.7168em;"><span class="stl_287 stl_08 stl_326">-121  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.3601em;top:34.7168em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3208em;top:34.7168em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.9426em;top:34.7168em;"><span class="stl_287 stl_08 stl_15">-327  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:35.5912em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">Amortization for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9558em;top:35.5912em;"><span class="stl_287 stl_08 stl_353">-</span><span class="stl_287 stl_08 stl_388">6</span><span class="stl_287 stl_08 stl_388">1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.607em;top:35.5912em;"><span class="stl_287 stl_08 stl_909">-132  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.6308em;top:35.5912em;"><span class="stl_287 stl_08 stl_378">-22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3208em;top:35.5912em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.9908em;top:35.5912em;"><span class="stl_287 stl_08 stl_569">-215  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:36.4581em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0417em;">Amortization and impairment losses at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.437em;top:36.4581em;"><span class="stl_288 stl_11 stl_103">-547  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.3951em;top:36.4581em;"><span class="stl_288 stl_11 stl_117">-857  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1601em;top:36.4581em;"><span class="stl_288 stl_11 stl_370">-210  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.312em;top:36.4581em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.3308em;top:36.4581em;"><span class="stl_288 stl_11 stl_813">-1,614  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:37.3325em;"><span class="stl_288 stl_11 stl_97" style="word-spacing:-0.0422em;">Carrying amount at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.6933em;top:37.3325em;"><span class="stl_288 stl_11 stl_356">376  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.6001em;top:37.3325em;"><span class="stl_288 stl_11 stl_148">905  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.7501em;top:37.3325em;"><span class="stl_288 stl_11 stl_348">72  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.2876em;top:37.3325em;"><span class="stl_288 stl_11 stl_76">350  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.4526em;top:37.3325em;"><span class="stl_288 stl_11 stl_499">1,703  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:9.965em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0353em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:10.7225em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Acquired technologies, trademarks, and customer relations, primarily  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:11.4725em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">comprising identified technologies, are recognized at fair value at the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:12.2225em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">time of acquisition in connection with a business combination. Any  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:12.9725em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">other intangible asset is recognized at cost.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:14.4725em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">Development and IT projects are recognized as intangible assets if  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:15.2225em;"><span class="stl_287 stl_08 stl_31" style="word-spacing:-0.042em;">they meet certain criteria. These projects must be clearly defined and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:15.9725em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0376em;">identifiable, with proven technical feasibility and sufficient resources  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:16.7225em;"><span class="stl_287 stl_08 stl_150" style="word-spacing:-0.0297em;">available for completion. Additionally, there should be a potential mar-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:17.4725em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0351em;">ket or scope for the project, and the Group must intend to produce,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:18.2225em;"><span class="stl_287 stl_08 stl_309" style="word-spacing:-0.0411em;">market, or use the project. The directly attributable cost should be  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:18.9725em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0377em;">reliably measurable, and there must be certainty that future earnings  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:19.7225em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0349em;">or the net selling price will cover all costs.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:21.215em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0418em;">Useful lifetime and residual value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:21.9725em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">Intangible assets, excl. goodwill, are amortized according to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:22.7225em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">straight-line method over the expected useful lifetime of the indi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:23.4725em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0384em;">vidual asset. The residual value for all intangible assets is assessed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:24.2225em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0363em;">as zero. The amortization of the intangible asset commences upon  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:24.9725em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0375em;">completion of the project or when the asset is ready for use. The basis  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:25.7225em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">of amortization is reduced by impairment losses, if any. The useful  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:26.4725em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">life of the asset may subsequently be changed if the original assump-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:27.2225em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0328em;">tions on which the useful life and any residual value are based have  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:27.9725em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0333em;">changed significantly.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:29.4725em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">The expected useful lifetimes of intangible assets are as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:30.9725em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.034em;">Acquired technologies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8245em;top:30.9725em;"><span class="stl_287 stl_08 stl_866">5</span><span class="stl_287 stl_08 stl_302">-</span><span class="stl_287 stl_08 stl_105" style="word-spacing:-0.0152em;">15 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:31.7225em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">Completed development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8189em;top:31.7225em;"><span class="stl_287 stl_08 stl_866">5</span><span class="stl_287 stl_08 stl_302">-</span><span class="stl_287 stl_08 stl_140" style="word-spacing:-0.0188em;">10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:32.4725em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">Distribution rights, patents, and licenses, etc.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.7689em;top:32.4725em;"><span class="stl_287 stl_08 stl_37" style="word-spacing:-0.0311em;">5-20 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:33.2225em;"><span class="stl_287 stl_08 stl_521" style="word-spacing:-0.0528em;">IT software projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.1158em;top:33.2225em;"><span class="stl_287 stl_08 stl_322" style="word-spacing:-0.046em;">3-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:10.4781em;"><span class="stl_288 stl_11 stl_344" style="word-spacing:-0.0424em;">Sensitivity analysis for the impairment test of the GI technologies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.2356em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0379em;">The sensitivity analysis assesses the impact of changes in key assumptions of the result of the impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.9856em;"><span class="stl_287 stl_08 stl_98">test.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:13.4856em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">The ‘relief from royalty’ method estimates the discounted value of an intangible asset determined by the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.2356em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0397em;">expected royalty payments to a third party to be saved by owning the respective asset instead of licensing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.9856em;"><span class="stl_287 stl_08 stl_285" style="word-spacing:-0.0388em;">the respective asset. When applying the ‘relief from royalty’ method in the impairment test for the GI techno-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:15.7356em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">logies, the fair value is measured over the useful lifetime of the individual assets and by applying the main key  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:16.4856em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0357em;">assumptions as revenue, royalty rate, and pre-tax discount rate.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:17.9856em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0361em;">Useful lifetime for GI technologies is 15 years from FDA approval of the first product generation, also corre-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:18.7356em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">sponding to the budgeted period used in the impairment test.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.2356em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0367em;">The sensitivity shown for revenue is the amount of decrease in headroom, when reducing the expected reve-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.9856em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0369em;">nue in all budgeted years by 5 percentage points, everything else kept equal.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:22.4856em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">The sensitivity shown for royalty rate is the amount of decrease in headroom, when reducing the applied roy-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:23.2356em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0401em;">alty rate by 5 percentage points, everything else kept equal.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:24.7356em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">The sensitivity shown for pre-tax discount rate is the amount of decrease in headroom, when increasing the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:25.4856em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">applied pre-tax discount rate by 1 percentage point, everything else kept equal.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.9368em;"><span class="stl_288 stl_11 stl_298" style="word-spacing:-0.0373em;">Key assumptions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5357em;top:26.9368em;"><span class="stl_288 stl_11 stl_245">Description  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.4956em;"><span class="stl_287 stl_08 stl_101">Revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5357em;top:28.4956em;"><span class="stl_287 stl_08 stl_119" style="word-spacing:0.225em;">• Revenue</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:49.883em;top:28.4956em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0365em;">in the budgeted period is based on a combination of expected quantities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:29.2456em;"><span class="stl_287 stl_08 stl_111">(CAGR)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.1607em;top:29.2456em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">sold and the average selling price, together with a 15 years of survival curve for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.1607em;top:29.9956em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0331em;">each technology, commencing upon first FDA approval  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:31.1768em;"><span class="stl_287 stl_08 stl_394" style="word-spacing:-0.0418em;">Royalty rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5357em;top:31.1768em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:0.2085em;">• Based</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:49.177em;top:31.1768em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0395em;">on an expected royalty rate paid to an independent third party to license the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.1607em;top:31.9268em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0353em;">individual technology  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:33.1081em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0365em;">Discounted rates  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5357em;top:33.1081em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:0.2085em;">• Based</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:49.177em;top:33.1081em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0338em;">on 20-year government bonds  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:33.8581em;"><span class="stl_287 stl_08 stl_109" style="word-spacing:-0.0229em;">(net of tax)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5357em;top:33.8581em;"><span class="stl_287 stl_08 stl_375" style="word-spacing:0.2072em;">• Equity</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:49.188em;top:33.8581em;"><span class="stl_287 stl_08 stl_87" style="word-spacing:-0.0058em;">risk premium: 8.3% (8.1%)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5357em;top:34.6081em;"><span class="stl_287 stl_08 stl_119" style="word-spacing:0.225em;">• Premium</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:50.032em;top:34.6081em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0375em;">added to adjust for variability and associated risks of the in-market and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.1607em;top:35.3581em;"><span class="stl_287 stl_08 stl_207" style="word-spacing:-0.0413em;">pipeline products  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5312em;"><span class="stl_288 stl_11 stl_375" style="word-spacing:-0.0429em;">Result of impairment testing of other intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2887em;"><span class="stl_871 stl_651 stl_35" style="word-spacing:-0.0328em;">Result of impairment testing of the GI technologies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0387em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">The impairment test of the GI technologies is covering the assets categories ‘Acquired technologies, trade-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.7887em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">marks and cust. relations’, ‘Completed development projects’ and ‘Development projects and other assets in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.5387em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0328em;">progress’. The impairment test of the GI technologies covers approximately a third of the total other intangi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.2887em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">ble assets for the group.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.7887em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">In accordance with the group accounting policy for impairment testing of other intangible assets, both fair  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.5387em;"><span class="stl_287 stl_08 stl_169" style="word-spacing:-0.0333em;">value and value in use were evaluated as part of the 2024/25 impairment test of the GI technologies. The  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.2887em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0375em;">assessment confirmed that the fair value represents the recoverable amount of the assets. The impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.0387em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0344em;">test concluded that there are no indications for further impairment, nor any basis for reversing the impair-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.7887em;"><span class="stl_287 stl_08 stl_101" style="word-spacing:-0.0246em;">ment loss recognized in 2023/24.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.2887em;"><span class="stl_287 stl_08 stl_18" style="word-spacing:-0.0308em;">In 2023/24, an impairment loss of DKK 327m on Acquired technologies and completed development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.0387em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">was recognised, following the strategic review across our GI endoscopy business. The impairment loss was  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.7887em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">charged to special items, as described in note 2.6.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.2887em;"><span class="stl_871 stl_651 stl_45" style="word-spacing:-0.0331em;">Result of impairment testing of other intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.0387em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0372em;">The impairment test of other intangible assets is covering the remaining part of ‘Development projects and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.7887em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">other assets in progress’ in scope for annual impairment testing.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.2887em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">The impairment tests of other intangible assets, 2024/25, did not result in recognition of impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.0387em;"><span class="stl_287 stl_08 stl_36" style="word-spacing:-0.0185em;">(2023/24: no impairment losses).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.5387em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0377em;">No sensitivity analysis has been made for the impairment test of other intangible assets as the impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:29.2887em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">test shows a clear result of no need for recognition of impairment losses.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2256em;"><span class="stl_418 stl_11 stl_75" style="word-spacing:-0.0294em;">3.2 Other intangible assets (continued)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.3802em;top:10.4899em;"><span class="stl_288 stl_11 stl_161">Cholangio  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.792em;top:10.4899em;"><span class="stl_288 stl_11 stl_361">Colon  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.7558em;top:10.4899em;"><span class="stl_288 stl_11 stl_403">Duodeno  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.5464em;top:10.4899em;"><span class="stl_288 stl_11 stl_643">Gastro  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:12.0412em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:12.9699em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0415em;">Carrying amount, tested technology  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.4252em;top:12.9699em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.8902em;top:12.9699em;"><span class="stl_287 stl_08 stl_595">84  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.587em;top:12.9699em;"><span class="stl_287 stl_08 stl_338">247  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5808em;top:12.9699em;"><span class="stl_287 stl_08 stl_386">207  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:13.8912em;"><span class="stl_287 stl_08 stl_202" style="word-spacing:-0.0156em;">Impairment loss (-) / headroom (+)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.4252em;top:13.8912em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.272em;top:13.8912em;"><span class="stl_287 stl_08 stl_25">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9427em;top:13.8912em;"><span class="stl_287 stl_08 stl_337">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9683em;top:13.8912em;"><span class="stl_287 stl_08 stl_792">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:14.8124em;"><span class="stl_287 stl_08 stl_285" style="word-spacing:-0.0388em;">Carrying amount at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.4245em;top:14.8124em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.8895em;top:14.8124em;"><span class="stl_287 stl_08 stl_595">84  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5864em;top:14.8124em;"><span class="stl_287 stl_08 stl_338">247  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5808em;top:14.8124em;"><span class="stl_287 stl_08 stl_386">207  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:16.2456em;"><span class="stl_871 stl_651 stl_361" style="word-spacing:-0.0369em;">Carrying amount is classified as:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:17.1668em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0373em;">Acquired technologies, trademarks and cust. relations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.4252em;top:17.1668em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.8945em;top:17.1668em;"><span class="stl_287 stl_08 stl_47">66  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5708em;top:17.1668em;"><span class="stl_287 stl_08 stl_59">146  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9233em;top:17.1668em;"><span class="stl_287 stl_08 stl_432">85  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:18.0881em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">Completed development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.4245em;top:18.0881em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9314em;top:18.0881em;"><span class="stl_287 stl_08 stl_364">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5864em;top:18.0881em;"><span class="stl_287 stl_08 stl_323">101  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6745em;top:18.0881em;"><span class="stl_287 stl_08 stl_340">111  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:19.0093em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0397em;">Development projects and other assets in progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.4245em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.4402em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4558em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9883em;top:19.0093em;"><span class="stl_287 stl_08 stl_340">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:20.4349em;"><span class="stl_288 stl_11 stl_510" style="word-spacing:-0.0392em;">Budget period  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:21.3637em;"><span class="stl_287 stl_08 stl_157" style="word-spacing:-0.0195em;">Revenue (CAGR)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.3877em;top:21.3637em;"><span class="stl_287 stl_08 stl_354">19%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4358em;top:21.3637em;"><span class="stl_287 stl_08 stl_875">76%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.3814em;top:21.3637em;"><span class="stl_287 stl_08 stl_155">30%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:22.2849em;"><span class="stl_287 stl_08 stl_394" style="word-spacing:-0.0418em;">Royalty rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.3589em;top:22.2849em;"><span class="stl_287 stl_08 stl_117">20%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3895em;top:22.2849em;"><span class="stl_287 stl_08 stl_199">25%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.3902em;top:22.2849em;"><span class="stl_287 stl_08 stl_117">20%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:23.2062em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0383em;">Pre-tax discount rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.8527em;top:23.2062em;"><span class="stl_287 stl_08 stl_212">14.5%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.947em;top:23.2062em;"><span class="stl_287 stl_08 stl_813">11.9%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.9614em;top:23.2062em;"><span class="stl_287 stl_08 stl_813">11.9%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:24.6318em;"><span class="stl_288 stl_11 stl_285" style="word-spacing:-0.0388em;">Sensitivity analysis – impact on headroom</span><sup style="top: -0.2075em;"><span class="stl_295 stl_11 stl_842" style="word-spacing:-0.0665em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.5613em;"><span class="stl_287 stl_08 stl_157" style="word-spacing:-0.0195em;">Revenue (CAGR)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.0464em;top:25.5613em;"><span class="stl_287 stl_08 stl_353">-6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7901em;top:25.5613em;"><span class="stl_287 stl_08 stl_795">-13  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.802em;top:25.5613em;"><span class="stl_287 stl_08 stl_346">-15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.4825em;"><span class="stl_287 stl_08 stl_540" style="word-spacing:-0.0416em;">Royalty rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7126em;top:26.4825em;"><span class="stl_287 stl_08 stl_57">-29  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7433em;top:26.4825em;"><span class="stl_287 stl_08 stl_354">-51  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.772em;top:26.4825em;"><span class="stl_287 stl_08 stl_323">-75  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:27.4038em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0383em;">Pre-tax discount rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.047em;top:27.4038em;"><span class="stl_287 stl_08 stl_353">-6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7945em;top:27.4038em;"><span class="stl_287 stl_08 stl_359">-12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8076em;top:27.4038em;"><span class="stl_287 stl_08 stl_50">-14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.68em;"><span class="stl_911 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.1998em;top:28.6415em;"><span class="stl_235 stl_08 stl_617" style="word-spacing:-0.0521em;">Sensitivity for revenue and royalty rate is based on a 5 percentage points decrease, and pre-tax discount rate is based on a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.1998em;top:29.3915em;"><span class="stl_235 stl_08 stl_641" style="word-spacing:-0.0507em;">1 percentage point increase  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.0494em;top:10.4899em;"><span class="stl_288 stl_11 stl_161">Cholangio  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.4613em;top:10.4899em;"><span class="stl_288 stl_11 stl_361">Colon  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4251em;top:10.4899em;"><span class="stl_288 stl_11 stl_403">Duodeno  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2157em;top:10.4899em;"><span class="stl_288 stl_11 stl_643">Gastro  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:12.0412em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:12.9699em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0415em;">Carrying amount, tested technology  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.5663em;top:12.9699em;"><span class="stl_287 stl_08 stl_122">26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.1963em;top:12.9699em;"><span class="stl_287 stl_08 stl_112">254  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.2857em;top:12.9699em;"><span class="stl_287 stl_08 stl_352">416  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2432em;top:12.9699em;"><span class="stl_287 stl_08 stl_378">227  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:13.8912em;"><span class="stl_287 stl_08 stl_202" style="word-spacing:-0.0156em;">Impairment loss (-) / headroom (+)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.3744em;top:13.8912em;"><span class="stl_287 stl_08 stl_307">-26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.0763em;top:13.8912em;"><span class="stl_287 stl_08 stl_315">-162  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0926em;top:13.8912em;"><span class="stl_287 stl_08 stl_906">-139  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6326em;top:13.8912em;"><span class="stl_287 stl_08 stl_251">67  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4469em;top:14.8124em;"><span class="stl_287 stl_08 stl_285" style="word-spacing:-0.0388em;">Carrying amount at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.0932em;top:14.8124em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.5663em;top:14.8124em;"><span class="stl_287 stl_08 stl_78">92  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.2301em;top:14.8124em;"><span class="stl_287 stl_08 stl_227">277  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2419em;top:14.8124em;"><span class="stl_287 stl_08 stl_378">227  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4469em;top:16.2456em;"><span class="stl_871 stl_651 stl_361" style="word-spacing:-0.0369em;">Carrying amount is classified as:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4469em;top:17.1668em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0373em;">Acquired technologies, trademarks and cust. relations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.0932em;top:17.1668em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.5932em;top:17.1668em;"><span class="stl_287 stl_08 stl_485">71  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.2963em;top:17.1668em;"><span class="stl_287 stl_08 stl_790">161  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5976em;top:17.1668em;"><span class="stl_287 stl_08 stl_78">92  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4463em;top:18.0881em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">Completed development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.0926em;top:18.0881em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.5844em;top:18.0881em;"><span class="stl_287 stl_08 stl_63">21  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3063em;top:18.0881em;"><span class="stl_287 stl_08 stl_388">116  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2788em;top:18.0881em;"><span class="stl_287 stl_08 stl_376">128  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4463em;top:19.0093em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0397em;">Development projects and other assets in progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.0926em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.1082em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:67.1238em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9707em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4457em;top:20.4349em;"><span class="stl_288 stl_11 stl_510" style="word-spacing:-0.0392em;">Budget period  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4457em;top:21.3637em;"><span class="stl_287 stl_08 stl_157" style="word-spacing:-0.0195em;">Revenue (CAGR)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.0557em;top:21.3637em;"><span class="stl_287 stl_08 stl_354">19%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.1288em;top:21.3637em;"><span class="stl_287 stl_08 stl_730">61%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0732em;top:21.3637em;"><span class="stl_287 stl_08 stl_217">27%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4457em;top:22.2849em;"><span class="stl_287 stl_08 stl_394" style="word-spacing:-0.0418em;">Royalty rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.0269em;top:22.2849em;"><span class="stl_287 stl_08 stl_117">20%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0576em;top:22.2849em;"><span class="stl_287 stl_08 stl_199">25%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0582em;top:22.2849em;"><span class="stl_287 stl_08 stl_117">20%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4451em;top:23.2062em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0383em;">Pre-tax discount rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.6101em;top:23.2062em;"><span class="stl_287 stl_08 stl_580">14.1%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.5901em;top:23.2062em;"><span class="stl_287 stl_08 stl_874">11.5%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6044em;top:23.2062em;"><span class="stl_287 stl_08 stl_874">11.5%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4444em;top:24.6318em;"><span class="stl_288 stl_11 stl_285" style="word-spacing:-0.0387em;">Sensitivity analysis – impact on headroom</span><sup style="top: -0.2075em;"><span class="stl_295 stl_11 stl_910" style="word-spacing:-0.0664em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:25.5613em;"><span class="stl_287 stl_08 stl_119">Revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.7269em;top:25.5613em;"><span class="stl_287 stl_08 stl_300">-5  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.4601em;top:25.5613em;"><span class="stl_287 stl_08 stl_50">-14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.4763em;top:25.5613em;"><span class="stl_287 stl_08 stl_912">-16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.4825em;"><span class="stl_287 stl_08 stl_394" style="word-spacing:-0.0418em;">Royalty rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.3919em;top:26.4825em;"><span class="stl_287 stl_08 stl_307">-26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3713em;top:26.4825em;"><span class="stl_287 stl_08 stl_47">-56  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.3713em;top:26.4825em;"><span class="stl_287 stl_08 stl_434">-80  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.4038em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0383em;">Pre-tax discount rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.7632em;top:27.4038em;"><span class="stl_287 stl_08 stl_356">-7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.4557em;top:27.4038em;"><span class="stl_287 stl_08 stl_346">-15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.4763em;top:27.4038em;"><span class="stl_287 stl_08 stl_912">-16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.68em;"><span class="stl_911 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.869em;top:28.6415em;"><span class="stl_235 stl_08 stl_617" style="word-spacing:-0.0521em;">Sensitivity for revenue and royalty rate is based on a 5 percentage points decrease, and pre-tax discount rate is based on a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.869em;top:29.3915em;"><span class="stl_235 stl_08 stl_420" style="word-spacing:-0.0507em;">1 percentage point increase  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5652em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.3183em;"><span class="stl_438 stl_92 stl_471" style="word-spacing:-0.0432em;">Impairment testing of other intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0727em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">At each reporting date, the Management performs an assessment of whether internal or external indications  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.8227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0359em;">of impairment of the identified intangible assets exist. If there is any indication of impairment, an impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.5727em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0373em;">test is carried out. If an indication of impairment exists, the recoverable amount of the asset is determined,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.3227em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">i.e. the higher of the fair value of the asset, less anticipated costs of disposal and its value-in-use. For assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.0727em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">that are either fully or partially impaired, both their fair value and value-in-use are assessed to verify whether  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.8227em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">the impairment remains and to determine if further impairment, or a reversal of previously recorded impair-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.5727em;"><span class="stl_287 stl_08 stl_412" style="word-spacing:-0.0407em;">ment losses, is necessary.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.0727em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0345em;">Reversals of previously recognized impairment losses are only recorded when there is a change in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.8227em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0367em;">assumptions for the original impairment. This includes changes in expected future cash flows or the discount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.5727em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">rate, in the case of value-in-use, or an increase in fair value, reflecting a genuine improvement of the asset’s  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.3227em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0332em;">recoverable amount, excluding changes solely due to the passage of time.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.8227em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">Development projects in progress, either acquired or internally generated, are tested for impairment mini-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.5727em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">mum on an annual basis and if there is any indication of impairment. For completed development projects, it  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.3227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">is continuously assessed whether there is any indication of impairment.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.8227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">Impairment tests are either carried out by calculating the value in use, by using a discounted cashflow model,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.5727em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0363em;">or by calculating the fair value, depending on the type of intangible asset. If the initial impairment test shows  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.3227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">a calculated amount lower than the carrying value of the asset, both fair value and value in use are calculated,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.0727em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0339em;">and an impairment loss is recognized at the higher amount of either fair value or value in use if both calcu-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.8227em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0381em;">lated values are below the carrying amount of the asset. The impairment assessment, and the possible fol-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.5727em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.0379em;">lowing impairment test, is carried out per individual asset.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:10.579em;"><span class="stl_288 stl_11 stl_294" style="word-spacing:-0.0405em;">! Material accounting estimates and judgement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.3321em;"><span class="stl_438 stl_92 stl_437" style="word-spacing:-0.0435em;">Impairment test of other intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:12.0865em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">The Management assess the risk of impairment of the Ambu Group’s intangible assets. This requires judg-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:12.8365em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0381em;">ment in relation to the underlying assumptions of the future expected cash flows, of the individual assets, to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:13.5865em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0344em;">be applied in the Group’s impairment model. An impairment test is performed at least once a year for devel-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.3365em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0376em;">opment projects in progress. The impairment test is for each development project in progress determined  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:15.0865em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">on the basis of certain key assumptions, i.e. payback time, net present value, and actual development costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:15.8365em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0357em;">realised compared to the business case.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:17.3365em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0353em;">For acquired and completed development projects related to the GI technologies, the impairment test is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:18.0865em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0357em;">conducted by use of the ‘relief from royalty’ method as valuation model for determining the fair value. This is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:18.8365em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">consistent with the valuation method applied when the technologies were acquired.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.3365em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0359em;">The fair value hierarchy, by use of the ‘relief from royalty’ method is level 3, as unobservable inputs are used  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:21.0865em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">to measure the fair value to the extent that relevant observable inputs are not available, which include any  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:21.8365em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0341em;">information about market participant assumptions that is reasonably available.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:23.3365em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">The recoverable amount of each identified intangible asset related to the GI technologies is determined on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:24.0865em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0367em;">the basis of certain key assumptions, i.e. expected revenue, royalty rate, and discount rate, etc. The cash flow  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:24.8365em;"><span class="stl_287 stl_08 stl_396" style="word-spacing:-0.0403em;">projections for the individual assets, applied in the short-, mid-, and long-term perspective, reflects Man-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:25.5865em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">agement’s best estimate, including Group-strategic initiatives, local initiatives, past experience, and external  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.3365em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">sources of information, where possible and relevant for the individual assets.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2258em;"><span class="stl_418 stl_11 stl_37" style="word-spacing:-0.0311em;">3.3 Property, plant, and equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.002em;top:10.4899em;"><span class="stl_288 stl_11 stl_404" style="word-spacing:1.127em;">Other Property,</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.877em;top:10.4899em;"><span class="stl_288 stl_11 stl_161">plant  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.5127em;top:11.2399em;"><span class="stl_288 stl_11 stl_528" style="word-spacing:-0.0444em;">Land and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.1289em;top:11.2399em;"><span class="stl_288 stl_11 stl_100" style="word-spacing:-0.0343em;">Plant and</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.934em;top:11.2399em;"><span class="stl_288 stl_11 stl_271" style="word-spacing:-0.0372em;">and equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.019em;top:11.2399em;"><span class="stl_288 stl_11 stl_631" style="word-spacing:-0.0531em;">fixtures and</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.9974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.402em;top:11.9899em;"><span class="stl_288 stl_11 stl_74">buildings  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.7695em;top:11.9899em;"><span class="stl_288 stl_11 stl_522">machinery  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.3877em;top:11.9899em;"><span class="stl_288 stl_11 stl_361">equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.9452em;top:11.9899em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0425em;">in progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.697em;top:11.9899em;"><span class="stl_288 stl_11 stl_579">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.5174em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.3756em;"><span class="stl_287 stl_08 stl_536" style="word-spacing:-0.0456em;">Cost at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.3058em;top:14.3756em;"><span class="stl_287 stl_08 stl_657">291  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0102em;top:14.3756em;"><span class="stl_287 stl_08 stl_45">583  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.7458em;top:14.3756em;"><span class="stl_287 stl_08 stl_208">265  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7877em;top:14.3756em;"><span class="stl_287 stl_08 stl_55">82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.6339em;top:14.3756em;"><span class="stl_287 stl_08 stl_393">1,221  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.2262em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.5483em;top:15.2262em;"><span class="stl_287 stl_08 stl_857">-17  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.1745em;top:15.2262em;"><span class="stl_287 stl_08 stl_47">-35  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.2589em;top:15.2262em;"><span class="stl_287 stl_08 stl_353">-6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.942em;top:15.2262em;"><span class="stl_287 stl_08 stl_93">-3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.3283em;top:15.2262em;"><span class="stl_287 stl_08 stl_353">-</span><span class="stl_287 stl_08 stl_388">6</span><span class="stl_287 stl_08 stl_388">1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.0768em;"><span class="stl_287 stl_08 stl_45" style="word-spacing:-0.033em;">Additions during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.2052em;top:16.0768em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.9295em;top:16.0768em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.6539em;top:16.0768em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.5145em;top:16.0768em;"><span class="stl_287 stl_08 stl_854">117  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.2389em;top:16.0768em;"><span class="stl_287 stl_08 stl_854">117  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.9274em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">Disposals during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.8739em;top:16.9274em;"><span class="stl_287 stl_08 stl_791">-1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2002em;top:16.9274em;"><span class="stl_287 stl_08 stl_378">-22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.9877em;top:16.9274em;"><span class="stl_287 stl_08 stl_50">-14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3233em;top:16.9274em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.3114em;top:16.9274em;"><span class="stl_287 stl_08 stl_210">-37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.7781em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.0301em;">Transferred during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.0364em;top:17.7781em;"><span class="stl_287 stl_08 stl_25">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.3933em;top:17.7781em;"><span class="stl_287 stl_08 stl_55">82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1595em;top:17.7781em;"><span class="stl_287 stl_08 stl_369">17  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.2664em;top:17.7781em;"><span class="stl_287 stl_08 stl_371">-108  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0477em;top:17.7781em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.6212em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0426em;">Cost at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.1783em;top:18.6212em;"><span class="stl_288 stl_11 stl_108">282  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.8933em;top:18.6212em;"><span class="stl_288 stl_11 stl_267">608  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6352em;top:18.6212em;"><span class="stl_288 stl_11 stl_189">262  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7039em;top:18.6212em;"><span class="stl_288 stl_11 stl_33">88  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.4114em;top:18.6212em;"><span class="stl_288 stl_11 stl_103">1,240  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.9199em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.0371em;">Depreciation and impairment losses at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.2245em;top:19.9199em;"><span class="stl_287 stl_08 stl_843">-114  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.8158em;top:19.9199em;"><span class="stl_287 stl_08 stl_157">-387  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6139em;top:19.9199em;"><span class="stl_287 stl_08 stl_913">-138  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:19.9199em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.9077em;top:19.9199em;"><span class="stl_287 stl_08 stl_432">-639  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7802em;top:20.7705em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.037em;top:20.7705em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.3945em;top:20.7705em;"><span class="stl_287 stl_08 stl_328">23  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.4858em;top:20.7705em;"><span class="stl_287 stl_08 stl_25">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:20.7705em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5027em;top:20.7705em;"><span class="stl_287 stl_08 stl_297">34  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.6212em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">Disposals during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.2052em;top:21.6212em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.3945em;top:21.6212em;"><span class="stl_287 stl_08 stl_189">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1458em;top:21.6212em;"><span class="stl_287 stl_08 stl_326">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3233em;top:21.6212em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5045em;top:21.6212em;"><span class="stl_287 stl_08 stl_148">35  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:22.4718em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">Impairment losses for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.2045em;top:22.4718em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.9289em;top:22.4718em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.6533em;top:22.4718em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3227em;top:22.4718em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.047em;top:22.4718em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:23.3224em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0336em;">Depreciation for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.8139em;top:23.3224em;"><span class="stl_287 stl_08 stl_303">-8  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.1839em;top:23.3224em;"><span class="stl_287 stl_08 stl_33">-47  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.9339em;top:23.3224em;"><span class="stl_287 stl_08 stl_77">-27  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3227em;top:23.3224em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.2889em;top:23.3224em;"><span class="stl_287 stl_08 stl_433">-82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:24.1655em;"><span class="stl_288 stl_11 stl_510" style="word-spacing:-0.0391em;">Depreciation and impairment losses at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0827em;top:24.1655em;"><span class="stl_288 stl_11 stl_791">-115  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6852em;top:24.1655em;"><span class="stl_288 stl_11 stl_487">-391  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4764em;top:24.1655em;"><span class="stl_288 stl_11 stl_812">-146  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3133em;top:24.1655em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.7827em;top:24.1655em;"><span class="stl_288 stl_11 stl_404">-652  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:25.0162em;"><span class="stl_288 stl_11 stl_471" style="word-spacing:-0.0432em;">Carrying amount at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.2377em;top:25.0162em;"><span class="stl_288 stl_11 stl_825">167  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9552em;top:25.0162em;"><span class="stl_288 stl_11 stl_41">217  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.7039em;top:25.0162em;"><span class="stl_288 stl_11 stl_914">116  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7027em;top:25.0162em;"><span class="stl_288 stl_11 stl_33">88  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.0183em;top:25.0162em;"><span class="stl_288 stl_11 stl_137">588  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:26.7406em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:27.5987em;"><span class="stl_287 stl_08 stl_536" style="word-spacing:-0.0456em;">Cost at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.3164em;top:27.5987em;"><span class="stl_287 stl_08 stl_307">287  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0295em;top:27.5987em;"><span class="stl_287 stl_08 stl_657">537  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.7445em;top:27.5987em;"><span class="stl_287 stl_08 stl_126">285  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7945em;top:27.5987em;"><span class="stl_287 stl_08 stl_77">79  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.7008em;top:27.5987em;"><span class="stl_287 stl_08 stl_327">1,188  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:28.4493em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.0358em;top:28.4493em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.7602em;top:28.4493em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.9864em;top:28.4493em;"><span class="stl_287 stl_08 stl_795">-13  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.9914em;top:28.4493em;"><span class="stl_287 stl_08 stl_791">-1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.6495em;top:28.4493em;"><span class="stl_287 stl_08 stl_781">-4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:29.2999em;"><span class="stl_287 stl_08 stl_45" style="word-spacing:-0.033em;">Additions during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.2045em;top:29.2999em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.7602em;top:29.2999em;"><span class="stl_287 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.6533em;top:29.2999em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7777em;top:29.2999em;"><span class="stl_287 stl_08 stl_161">86  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.4989em;top:29.2999em;"><span class="stl_287 stl_08 stl_404">88  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:30.1506em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">Disposals during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.8439em;top:30.1506em;"><span class="stl_287 stl_08 stl_77">-2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.1995em;top:30.1506em;"><span class="stl_287 stl_08 stl_57">-29  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.927em;top:30.1506em;"><span class="stl_287 stl_08 stl_227">-20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3227em;top:30.1506em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.3327em;top:30.1506em;"><span class="stl_287 stl_08 stl_354">-51  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:31.0012em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.0301em;">Transferred during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.0352em;top:31.0012em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.3839em;top:31.0012em;"><span class="stl_287 stl_08 stl_155">68  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1483em;top:31.0012em;"><span class="stl_287 stl_08 stl_352">13  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.5645em;top:31.0012em;"><span class="stl_287 stl_08 stl_433">-82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.047em;top:31.0012em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:31.8443em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0426em;">Cost at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.1852em;top:31.8443em;"><span class="stl_288 stl_11 stl_189">291  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.8958em;top:31.8443em;"><span class="stl_288 stl_11 stl_76">583  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.622em;top:31.8443em;"><span class="stl_288 stl_11 stl_112">265  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7052em;top:31.8443em;"><span class="stl_288 stl_11 stl_108">82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.4327em;top:31.8443em;"><span class="stl_288 stl_11 stl_378">1,221  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:33.1431em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.0371em;">Depreciation and impairment losses at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.227em;top:33.1431em;"><span class="stl_287 stl_08 stl_915">-112  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.802em;top:33.1431em;"><span class="stl_287 stl_08 stl_155">-360  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6245em;top:33.1431em;"><span class="stl_287 stl_08 stl_909">-132  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3227em;top:33.1431em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.8939em;top:33.1431em;"><span class="stl_287 stl_08 stl_674">-604  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:33.9937em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.2045em;top:33.9937em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.5689em;top:33.9937em;"><span class="stl_287 stl_08 stl_77">-2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.4845em;top:33.9937em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3227em;top:33.9937em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.8783em;top:33.9937em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:34.8443em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">Disposals during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.0358em;top:34.8443em;"><span class="stl_287 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.3933em;top:34.8443em;"><span class="stl_287 stl_08 stl_328">23  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1445em;top:34.8443em;"><span class="stl_287 stl_08 stl_364">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3227em;top:34.8443em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.4914em;top:34.8443em;"><span class="stl_287 stl_08 stl_523">43  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:35.6949em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">Impairment losses for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.2045em;top:35.6949em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.5452em;top:35.6949em;"><span class="stl_287 stl_08 stl_300">-5  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.322em;top:35.6949em;"><span class="stl_287 stl_08 stl_791">-1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3227em;top:35.6949em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.652em;top:35.6949em;"><span class="stl_287 stl_08 stl_353">-6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:36.5456em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0336em;">Depreciation for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.807em;top:36.5456em;"><span class="stl_287 stl_08 stl_781">-4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.1445em;top:36.5456em;"><span class="stl_287 stl_08 stl_787">-43  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.9333em;top:36.5456em;"><span class="stl_287 stl_08 stl_77">-28  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3227em;top:36.5456em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.3458em;top:36.5456em;"><span class="stl_287 stl_08 stl_323">-75  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:37.3887em;"><span class="stl_288 stl_11 stl_510" style="word-spacing:-0.0391em;">Depreciation and impairment losses at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0845em;top:37.3887em;"><span class="stl_288 stl_11 stl_577">-114  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6852em;top:37.3887em;"><span class="stl_288 stl_11 stl_349">-387  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4814em;top:37.3887em;"><span class="stl_288 stl_11 stl_332">-138  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3145em;top:37.3887em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.7814em;top:37.3887em;"><span class="stl_288 stl_11 stl_334">-639  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:38.2393em;"><span class="stl_288 stl_11 stl_471" style="word-spacing:-0.0432em;">Carrying amount at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.2302em;top:38.2393em;"><span class="stl_288 stl_11 stl_813">177  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9427em;top:38.2393em;"><span class="stl_288 stl_11 stl_230">196  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.667em;top:38.2393em;"><span class="stl_288 stl_11 stl_230">127  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7052em;top:38.2393em;"><span class="stl_288 stl_11 stl_108">82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.0208em;top:38.2393em;"><span class="stl_288 stl_11 stl_208">582  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:10.4781em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:11.2356em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">Land and buildings, plant and machinery, and other plant, fixtures  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:11.9856em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0375em;">and fittings, tools and equipment are measured at cost less accu-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:12.7356em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">mulated depreciation and impairment losses. Cost comprises the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:13.4856em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0381em;">acquisition price and any costs directly attributable to the acquisition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:14.2356em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">until the date when the asset is ready for use. The cost of a total asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:14.9856em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">is divided into separate elements which are depreciated individually  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:15.7356em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">when the useful lives of the individual elements differ.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:17.2312em;"><span class="stl_438 stl_92 stl_207" style="word-spacing:-0.0409em;">Useful lifetime and residual value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:17.9856em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">The basis of depreciation is calculated in consideration of the resi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:18.7356em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0328em;">dual value of the asset and is reduced by impairment losses, if any.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:19.4856em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">The residual value is fixed at the date of acquisition and is subject to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:20.2356em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0336em;">annual review. When the residual value exceeds the carrying amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:20.9856em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0365em;">of the asset, depreciation will no longer take place. In connection with  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:21.7356em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">changes in the depreciation period or the residual value, the effect  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:22.4856em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0324em;">of depreciation is recognized in future as a change in the accounting  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:23.2356em;"><span class="stl_287 stl_08 stl_39">estimate.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:24.7356em;"><span class="stl_287 stl_08 stl_47" style="word-spacing:-0.0399em;">The carrying amount of property, plant, and equipment is assessed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:25.4856em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">on an annual basis to establish whether there is any indication of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:26.2356em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">impairment. When such indication exists, an impairment test is per-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:26.9856em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">formed. An impairment loss is recognized when the carrying amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:27.7356em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">of an asset exceeds the recoverable amount of the asset.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:29.2356em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0337em;">Property, plant, and equipment are depreciated according to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:29.9856em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.0369em;">straight-line method over the expected useful lives of the assets/com-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:30.7356em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0367em;">ponents, as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:32.2356em;"><span class="stl_287 stl_08 stl_146">Buildings  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.9361em;top:32.2356em;"><span class="stl_287 stl_08 stl_97" style="word-spacing:-0.0423em;">10-40 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:32.9856em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0349em;">Building installations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.9405em;top:32.9856em;"><span class="stl_287 stl_08 stl_137" style="word-spacing:-0.018em;">10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:33.7356em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">Plant and machinery  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.4268em;top:33.7356em;"><span class="stl_287 stl_08 stl_502" style="word-spacing:0.0089em;">2-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:34.4856em;"><span class="stl_287 stl_08 stl_309" style="word-spacing:-0.041em;">Other fixtures and equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.6849em;top:34.4856em;"><span class="stl_287 stl_08 stl_322" style="word-spacing:-0.046em;">3-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:35.9856em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">Land is not depreciated.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:37.4856em;"><span class="stl_287 stl_08 stl_176" style="word-spacing:-0.0355em;">Depreciation is recognized in the income statement under production  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:38.2356em;"><span class="stl_287 stl_08 stl_267" style="word-spacing:-0.041em;">costs, selling, and distribution costs, development costs, or manage-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:38.9856em;"><span class="stl_287 stl_08 stl_110" style="word-spacing:-0.0342em;">ment and administrative expenses, as appropriate. See note 2.4.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4491em;top:9.2256em;"><span class="stl_418 stl_11 stl_139" style="word-spacing:-0.0349em;">2.4 Depreciation, amortization, and impairment losses on non-current assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3569em;top:10.4899em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6163em;top:10.4899em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0487em;"><span class="stl_287 stl_08 stl_412" style="word-spacing:-0.0407em;">Amortization of intangible assets, identified in connection with business  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.7987em;"><span class="stl_287 stl_08 stl_79">combinations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3663em;top:12.7987em;"><span class="stl_287 stl_08 stl_63">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6488em;top:12.7987em;"><span class="stl_287 stl_08 stl_388">61  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:13.7199em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">Amortization of intangible development projects and other, incl. IT software  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0132em;top:13.7199em;"><span class="stl_287 stl_08 stl_435">182  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2551em;top:13.7199em;"><span class="stl_287 stl_08 stl_29">154  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:14.6412em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">Depreciation of property, plant, and equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3538em;top:14.6412em;"><span class="stl_287 stl_08 stl_55">82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6188em;top:14.6412em;"><span class="stl_287 stl_08 stl_435">75  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:15.5624em;"><span class="stl_287 stl_08 stl_285" style="word-spacing:-0.0387em;">Depreciation of right-of-use assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3676em;top:15.5624em;"><span class="stl_287 stl_08 stl_28">69  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5926em;top:15.5624em;"><span class="stl_287 stl_08 stl_432">65  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:16.4837em;"><span class="stl_287 stl_08 stl_344" style="word-spacing:-0.0424em;">Net loss on disposed non-current assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.7207em;top:16.4837em;"><span class="stl_287 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9726em;top:16.4837em;"><span class="stl_287 stl_08 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:17.4049em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0414em;">Impairment losses on non-current assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8888em;top:17.4049em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2207em;top:17.4049em;"><span class="stl_287 stl_08 stl_155">333  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:18.3187em;"><span class="stl_288 stl_11 stl_292" style="word-spacing:-0.0387em;">Total depreciation, amortization, and impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8813em;top:18.3187em;"><span class="stl_288 stl_11 stl_77">372  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.132em;top:18.3187em;"><span class="stl_288 stl_11 stl_381">696  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:19.7955em;"><span class="stl_287 stl_08 stl_23" style="word-spacing:-0.0301em;">In 2023/24, DKK 327m of the total impairment losses on non-current assets of DKK 333m relates to an impair-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:20.5455em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0372em;">ment of GI technologies, reflecting the longer time required to penetrate the market. The impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:21.2955em;"><span class="stl_287 stl_08 stl_158" style="word-spacing:-0.0269em;">are charged to 'special items'. Please refer to note 2.6.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.447em;top:22.7955em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">Depreciation, amortization, and impairment losses have been allocated to the following functions:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.2544em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3569em;top:24.2469em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6163em;top:24.2469em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:25.8056em;"><span class="stl_287 stl_08 stl_632" style="word-spacing:-0.0442em;">Production costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3413em;top:25.8056em;"><span class="stl_287 stl_08 stl_432">85  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5913em;top:25.8056em;"><span class="stl_287 stl_08 stl_416">84  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.7269em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0387em;">Selling and distribution costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.362em;top:26.7269em;"><span class="stl_287 stl_08 stl_77">27  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6038em;top:26.7269em;"><span class="stl_287 stl_08 stl_188">22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.6481em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">Research and development costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0213em;top:27.6481em;"><span class="stl_287 stl_08 stl_308">210  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2732em;top:27.6481em;"><span class="stl_287 stl_08 stl_308">210  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.5694em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0377em;">Management and administrative costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3513em;top:28.5694em;"><span class="stl_287 stl_08 stl_137">50  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5938em;top:28.5694em;"><span class="stl_287 stl_08 stl_322">48  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:29.4906em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8901em;top:29.4906em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2357em;top:29.4906em;"><span class="stl_287 stl_08 stl_32">332  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:30.4044em;"><span class="stl_288 stl_11 stl_292" style="word-spacing:-0.0387em;">Total depreciation, amortization, and impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8826em;top:30.4044em;"><span class="stl_288 stl_11 stl_77">372  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1332em;top:30.4044em;"><span class="stl_288 stl_11 stl_381">696  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:31.8737em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:32.6312em;"><span class="stl_287 stl_08 stl_78" style="word-spacing:-0.028em;">For a description of accounting policies, reference is made to notes 3.1, 3.2, and 3.3.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:9.2258em;"><span class="stl_418 stl_11 stl_160" style="word-spacing:-0.0318em;">2.6 Special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3569em;top:10.4899em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6163em;top:10.4899em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0487em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0337em;">Impairment of acquired technologies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8901em;top:12.0487em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2313em;top:12.0487em;"><span class="stl_287 stl_08 stl_137">206  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:12.9699em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">Impairment of completed development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8894em;top:12.9699em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2851em;top:12.9699em;"><span class="stl_287 stl_08 stl_813">121  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:13.8912em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0349em;">Impairment of plant and machinery  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8888em;top:13.8912em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9719em;top:13.8912em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4469em;top:14.8124em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">Write-down of inventories  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8882em;top:14.8124em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9713em;top:14.8124em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4463em;top:15.7337em;"><span class="stl_287 stl_08 stl_207" style="word-spacing:-0.0412em;">Severance costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8876em;top:15.7337em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.8082em;top:15.7337em;"><span class="stl_287 stl_08 stl_791">-1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4457em;top:16.6474em;"><span class="stl_288 stl_11 stl_38" style="word-spacing:-0.0321em;">Total special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8782em;top:16.6474em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1013em;top:16.6474em;"><span class="stl_288 stl_11 stl_146">334  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4451em;top:18.1243em;"><span class="stl_287 stl_08 stl_158" style="word-spacing:-0.0268em;">In 2024/25, no special items are recognized.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4451em;top:19.6243em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0332em;">In 2023/24, special items represented a net expense of DKK 334m, relating to an impairment within gastro-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4451em;top:20.3743em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">enterology (GI). A strategic review was performed across the GI endoscopy business, resulting in revised  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4451em;top:21.1243em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">assumptions, based on the longer time required to penetrate this market.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4451em;top:22.6243em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">Impairment tests were carried out for each GI technology. 'Colonoscopy' and 'Duodenoscopy' were written  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4451em;top:23.3743em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">down to their recoverable amounts, and 'Cholangio' was fully written down, due to project plans being put on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4451em;top:24.1243em;"><span class="stl_287 stl_08 stl_160" style="word-spacing:-0.0318em;">hold as a consequence of the strategic review, resulting in total impairment losses of DKK 327m.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4451em;top:25.6243em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">Furthermore, related assets were revaluated, resulting in excess production equipment and excess invento-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4451em;top:26.3743em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0365em;">ries written down by, respectively, DKK 5m and DKK 3m.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.4856em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">If special items had been recognized in operating profit (EBIT) before special items, the impact would have  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2356em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">been allocated to the following functions:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.6943em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6877em;top:12.6868em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.947em;top:12.6868em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.2456em;"><span class="stl_287 stl_08 stl_632" style="word-spacing:-0.0442em;">Production costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2208em;top:14.2456em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3039em;top:14.2456em;"><span class="stl_287 stl_08 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:15.1668em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">Development costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2202em;top:15.1668em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5827em;top:15.1668em;"><span class="stl_287 stl_08 stl_381">326  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:16.0806em;"><span class="stl_288 stl_11 stl_38" style="word-spacing:-0.0321em;">Total special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2114em;top:16.0806em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.4345em;top:16.0806em;"><span class="stl_288 stl_11 stl_146">334  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:17.55em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:18.3075em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Special items comprise costs or income that cannot be attributed directly to the Group's ordinary activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:19.0575em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0357em;">and are of a non-recurring of nature, e.g., strategic re-evaluation. Such costs include the cost related to sig-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:19.8075em;"><span class="stl_287 stl_08 stl_396" style="word-spacing:-0.0405em;">nificant restructuring of the cost base and processes, as well as restructuring costs related to resignation of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:20.5575em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0339em;">employees. Further special items include redundancy costs' related to the Group's Management, impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:21.3075em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0373em;">of assets, and remeasurement of technology debt.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:22.8075em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">These items are presented separately to facilitate the comparability of the income statement and to provide a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:23.5575em;"><span class="stl_287 stl_08 stl_97" style="word-spacing:-0.0422em;">better picture of the operating results.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.603em;"><span class="stl_288 stl_11 stl_292" style="word-spacing:-0.0385em;">! Material accounting judgement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.3562em;"><span class="stl_438 stl_92 stl_299" style="word-spacing:-0.0413em;">Impairment testing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.1105em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0325em;">As described in section 2.1, the Ambu Group is managed as one single unit, for which reason the Manage-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.8605em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0326em;">ment monitors goodwill at Group level. Consequently, the impairment test is based on the Group’s market  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.6105em;"><span class="stl_287 stl_08 stl_61">value.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.1105em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0345em;">The market value of Ambu A/S’s shares is based on the quoted price of DKK 92.60 per share on Nasdaq  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.8605em;"><span class="stl_287 stl_08 stl_114" style="word-spacing:-0.0209em;">Copenhagen at 30 September 2025 (DKK 131.15 per share at 30 September 2024). Based on this market value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.6105em;"><span class="stl_287 stl_08 stl_129" style="word-spacing:-0.0214em;">approximation, Ambu's equity value is DKK 24.7bn (DKK 34.9bn), which leaves DKK 18.7bn (DKK 29.3bn) in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.3605em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0347em;">headroom to the carrying amount of equity. Therefore, the Management has concluded that the net selling  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.1105em;"><span class="stl_287 stl_08 stl_38" style="word-spacing:-0.0323em;">price, calculated on the basis of a level 1 fair value measurement, proves that there is no indication of impair-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.8605em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0337em;">ment of goodwill.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.9877em;top:10.0175em;"><span class="stl_288 stl_11 stl_178">Acquired  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.5683em;top:10.7675em;"><span class="stl_288 stl_11 stl_475">technologies,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.2614em;top:10.7675em;"><span class="stl_288 stl_11 stl_82">Development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.2164em;top:11.5175em;"><span class="stl_288 stl_11 stl_334">trademarks  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.332em;top:11.5175em;"><span class="stl_288 stl_11 stl_409">Completed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.5777em;top:11.5175em;"><span class="stl_288 stl_11 stl_426" style="word-spacing:-0.0476em;">projects and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.982em;top:12.2675em;"><span class="stl_288 stl_11 stl_93" style="word-spacing:-0.052em;">and cust.</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.649em;top:12.2675em;"><span class="stl_288 stl_11 stl_82">development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.0426em;top:12.2675em;"><span class="stl_288 stl_11 stl_147" style="word-spacing:-0.0324em;">Other, incl.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.6589em;top:12.2675em;"><span class="stl_288 stl_11 stl_420" style="word-spacing:-0.0509em;">other assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.025em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0777em;top:13.0175em;"><span class="stl_288 stl_11 stl_525">relations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2383em;top:13.0175em;"><span class="stl_288 stl_11 stl_443">projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.0026em;top:13.0175em;"><span class="stl_288 stl_11 stl_901" style="word-spacing:-0.0577em;">IT software  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.9458em;top:13.0175em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0425em;">in progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.6977em;top:13.0175em;"><span class="stl_288 stl_11 stl_579">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:14.545em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:15.4269em;"><span class="stl_287 stl_08 stl_536" style="word-spacing:-0.0456em;">Cost at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7689em;top:15.4269em;"><span class="stl_287 stl_08 stl_108">923  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2739em;top:15.4269em;"><span class="stl_287 stl_08 stl_338">1,762  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.467em;top:15.4269em;"><span class="stl_287 stl_08 stl_199">282  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.4108em;top:15.4269em;"><span class="stl_287 stl_08 stl_112">350  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.652em;top:15.4269em;"><span class="stl_287 stl_08 stl_811">3,317  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:16.3012em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.3308em;top:16.3012em;"><span class="stl_287 stl_08 stl_356">-7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6389em;top:16.3012em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.3633em;top:16.3012em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:16.3012em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.7008em;top:16.3012em;"><span class="stl_287 stl_08 stl_356">-7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:17.1756em;"><span class="stl_287 stl_08 stl_45" style="word-spacing:-0.033em;">Additions during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6783em;top:17.1756em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6389em;top:17.1756em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.3633em;top:17.1756em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.457em;top:17.1756em;"><span class="stl_287 stl_08 stl_726">267  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.1814em;top:17.1756em;"><span class="stl_287 stl_08 stl_726">267  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:18.05em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">Disposals during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6783em;top:18.05em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6389em;top:18.05em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.5926em;top:18.05em;"><span class="stl_287 stl_08 stl_460">-60  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:18.05em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.2777em;top:18.05em;"><span class="stl_287 stl_08 stl_460">-60  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:18.9244em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.0301em;">Transferred during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6783em;top:18.9244em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.7345em;top:18.9244em;"><span class="stl_287 stl_08 stl_55">246  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.8339em;top:18.9244em;"><span class="stl_287 stl_08 stl_320">52  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.2264em;top:18.9244em;"><span class="stl_287 stl_08 stl_546">-298  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0483em;top:18.9244em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:19.7912em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0426em;">Cost at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.6876em;top:19.7912em;"><span class="stl_288 stl_11 stl_56">916  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9733em;top:19.7912em;"><span class="stl_288 stl_11 stl_475">2,008  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.3808em;top:19.7912em;"><span class="stl_288 stl_11 stl_902">274  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3426em;top:19.7912em;"><span class="stl_288 stl_11 stl_356">319  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.4658em;top:19.7912em;"><span class="stl_288 stl_11 stl_477">3,517  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:21.1375em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.04em;">Amortization and impairment losses at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.5689em;top:21.1375em;"><span class="stl_287 stl_08 stl_204">-547  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.5083em;top:21.1375em;"><span class="stl_287 stl_08 stl_297">-857  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.3033em;top:21.1375em;"><span class="stl_287 stl_08 stl_903">-210  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:21.1375em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.5452em;top:21.1375em;"><span class="stl_287 stl_08 stl_905">-1,614  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:22.0119em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.5095em;top:22.0119em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6389em;top:22.0119em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.1945em;top:22.0119em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:22.0119em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.8795em;top:22.0119em;"><span class="stl_287 stl_08 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:22.8862em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">Disposals during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6783em;top:22.8862em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6389em;top:22.8862em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.8189em;top:22.8862em;"><span class="stl_287 stl_08 stl_155">60  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:22.8862em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5039em;top:22.8862em;"><span class="stl_287 stl_08 stl_155">60  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:23.7606em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">Amortization for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.942em;top:23.7606em;"><span class="stl_287 stl_08 stl_210">-37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.6083em;top:23.7606em;"><span class="stl_287 stl_08 stl_906">-157  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.637em;top:23.7606em;"><span class="stl_287 stl_08 stl_253">-25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:23.7606em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.0001em;top:23.7606em;"><span class="stl_287 stl_08 stl_841">-219  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.6275em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0417em;">Amortization and impairment losses at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.4514em;top:24.6275em;"><span class="stl_288 stl_11 stl_189">-577  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.8976em;top:24.6275em;"><span class="stl_288 stl_11 stl_907">-1,014  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.242em;top:24.6275em;"><span class="stl_288 stl_11 stl_904">-174  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3145em;top:24.6275em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.3051em;top:24.6275em;"><span class="stl_288 stl_11 stl_841">-1,765  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.5018em;"><span class="stl_288 stl_11 stl_97" style="word-spacing:-0.0422em;">Carrying amount at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.6501em;top:25.5018em;"><span class="stl_288 stl_11 stl_126">339  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.6133em;top:25.5018em;"><span class="stl_288 stl_11 stl_579">994  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.3458em;top:25.5018em;"><span class="stl_288 stl_11 stl_25">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.342em;top:25.5018em;"><span class="stl_288 stl_11 stl_356">319  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.477em;top:25.5018em;"><span class="stl_288 stl_11 stl_435">1,752  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.25em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.1318em;"><span class="stl_287 stl_08 stl_536" style="word-spacing:-0.0456em;">Cost at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7664em;top:28.1318em;"><span class="stl_287 stl_08 stl_135">929  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2276em;top:28.1318em;"><span class="stl_287 stl_08 stl_331">1,492  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.4676em;top:28.1318em;"><span class="stl_287 stl_08 stl_253">257  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3783em;top:28.1318em;"><span class="stl_287 stl_08 stl_827">444  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.6864em;top:28.1318em;"><span class="stl_287 stl_08 stl_776">3,122  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:29.0062em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.282em;top:29.0062em;"><span class="stl_287 stl_08 stl_353">-6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.4689em;top:29.0062em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.362em;top:29.0062em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.9914em;top:29.0062em;"><span class="stl_287 stl_08 stl_791">-1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.652em;top:29.0062em;"><span class="stl_287 stl_08 stl_353">-6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:29.8806em;"><span class="stl_287 stl_08 stl_45" style="word-spacing:-0.033em;">Additions during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.677em;top:29.8806em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6376em;top:29.8806em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.362em;top:29.8806em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.4314em;top:29.8806em;"><span class="stl_287 stl_08 stl_274">201  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.1558em;top:29.8806em;"><span class="stl_287 stl_08 stl_274">201  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:30.755em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.0301em;">Transferred during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6764em;top:30.755em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.7558em;top:30.755em;"><span class="stl_287 stl_08 stl_261">269  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.8264em;top:30.755em;"><span class="stl_287 stl_08 stl_189">25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.2364em;top:30.755em;"><span class="stl_287 stl_08 stl_331">-294  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0464em;top:30.755em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:31.6218em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0426em;">Cost at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.6445em;top:31.6218em;"><span class="stl_288 stl_11 stl_112">923  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0758em;top:31.6218em;"><span class="stl_288 stl_11 stl_368">1,762  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.3339em;top:31.6218em;"><span class="stl_288 stl_11 stl_108">282  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.2883em;top:31.6218em;"><span class="stl_288 stl_11 stl_76">350  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.4514em;top:31.6218em;"><span class="stl_288 stl_11 stl_307">3,317  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:32.9681em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.04em;">Amortization and impairment losses at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.5795em;top:32.9681em;"><span class="stl_287 stl_08 stl_593">-286  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4833em;top:32.9681em;"><span class="stl_287 stl_08 stl_674">-604  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.3133em;top:32.9681em;"><span class="stl_287 stl_08 stl_869">-186  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3214em;top:32.9681em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.5176em;top:32.9681em;"><span class="stl_287 stl_08 stl_908">-1,076  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:33.8425em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.5064em;top:33.8425em;"><span class="stl_287 stl_08 stl_25">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6358em;top:33.8425em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.0001em;top:33.8425em;"><span class="stl_287 stl_08 stl_77">-2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3208em;top:33.8425em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.8764em;top:33.8425em;"><span class="stl_287 stl_08 stl_25">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:34.7168em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">Impairment losses for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.5733em;top:34.7168em;"><span class="stl_287 stl_08 stl_102">-206  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.617em;top:34.7168em;"><span class="stl_287 stl_08 stl_326">-121  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.3601em;top:34.7168em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3208em;top:34.7168em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.9426em;top:34.7168em;"><span class="stl_287 stl_08 stl_15">-327  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:35.5912em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">Amortization for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9558em;top:35.5912em;"><span class="stl_287 stl_08 stl_353">-</span><span class="stl_287 stl_08 stl_388">6</span><span class="stl_287 stl_08 stl_388">1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.607em;top:35.5912em;"><span class="stl_287 stl_08 stl_909">-132  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.6308em;top:35.5912em;"><span class="stl_287 stl_08 stl_378">-22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3208em;top:35.5912em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.9908em;top:35.5912em;"><span class="stl_287 stl_08 stl_569">-215  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:36.4581em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0417em;">Amortization and impairment losses at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.437em;top:36.4581em;"><span class="stl_288 stl_11 stl_103">-547  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.3951em;top:36.4581em;"><span class="stl_288 stl_11 stl_117">-857  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1601em;top:36.4581em;"><span class="stl_288 stl_11 stl_370">-210  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.312em;top:36.4581em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.3308em;top:36.4581em;"><span class="stl_288 stl_11 stl_813">-1,614  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:37.3325em;"><span class="stl_288 stl_11 stl_97" style="word-spacing:-0.0422em;">Carrying amount at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.6933em;top:37.3325em;"><span class="stl_288 stl_11 stl_356">376  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.6001em;top:37.3325em;"><span class="stl_288 stl_11 stl_148">905  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.7501em;top:37.3325em;"><span class="stl_288 stl_11 stl_348">72  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.2876em;top:37.3325em;"><span class="stl_288 stl_11 stl_76">350  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.4526em;top:37.3325em;"><span class="stl_288 stl_11 stl_499">1,703  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2256em;"><span class="stl_418 stl_11 stl_75" style="word-spacing:-0.0294em;">3.2 Other intangible assets (continued)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.3802em;top:10.4899em;"><span class="stl_288 stl_11 stl_161">Cholangio  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.792em;top:10.4899em;"><span class="stl_288 stl_11 stl_361">Colon  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.7558em;top:10.4899em;"><span class="stl_288 stl_11 stl_403">Duodeno  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.5464em;top:10.4899em;"><span class="stl_288 stl_11 stl_643">Gastro  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:12.0412em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:12.9699em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0415em;">Carrying amount, tested technology  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.4252em;top:12.9699em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.8902em;top:12.9699em;"><span class="stl_287 stl_08 stl_595">84  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.587em;top:12.9699em;"><span class="stl_287 stl_08 stl_338">247  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5808em;top:12.9699em;"><span class="stl_287 stl_08 stl_386">207  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:13.8912em;"><span class="stl_287 stl_08 stl_202" style="word-spacing:-0.0156em;">Impairment loss (-) / headroom (+)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.4252em;top:13.8912em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.272em;top:13.8912em;"><span class="stl_287 stl_08 stl_25">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9427em;top:13.8912em;"><span class="stl_287 stl_08 stl_337">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9683em;top:13.8912em;"><span class="stl_287 stl_08 stl_792">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:14.8124em;"><span class="stl_287 stl_08 stl_285" style="word-spacing:-0.0388em;">Carrying amount at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.4245em;top:14.8124em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.8895em;top:14.8124em;"><span class="stl_287 stl_08 stl_595">84  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5864em;top:14.8124em;"><span class="stl_287 stl_08 stl_338">247  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5808em;top:14.8124em;"><span class="stl_287 stl_08 stl_386">207  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:16.2456em;"><span class="stl_871 stl_651 stl_361" style="word-spacing:-0.0369em;">Carrying amount is classified as:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:17.1668em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0373em;">Acquired technologies, trademarks and cust. relations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.4252em;top:17.1668em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.8945em;top:17.1668em;"><span class="stl_287 stl_08 stl_47">66  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5708em;top:17.1668em;"><span class="stl_287 stl_08 stl_59">146  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9233em;top:17.1668em;"><span class="stl_287 stl_08 stl_432">85  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:18.0881em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">Completed development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.4245em;top:18.0881em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9314em;top:18.0881em;"><span class="stl_287 stl_08 stl_364">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5864em;top:18.0881em;"><span class="stl_287 stl_08 stl_323">101  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6745em;top:18.0881em;"><span class="stl_287 stl_08 stl_340">111  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:19.0093em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0397em;">Development projects and other assets in progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.4245em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.4402em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4558em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9883em;top:19.0093em;"><span class="stl_287 stl_08 stl_340">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:20.4349em;"><span class="stl_288 stl_11 stl_510" style="word-spacing:-0.0392em;">Budget period  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:21.3637em;"><span class="stl_287 stl_08 stl_157" style="word-spacing:-0.0195em;">Revenue (CAGR)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.3877em;top:21.3637em;"><span class="stl_287 stl_08 stl_354">19%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4358em;top:21.3637em;"><span class="stl_287 stl_08 stl_875">76%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.3814em;top:21.3637em;"><span class="stl_287 stl_08 stl_155">30%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:22.2849em;"><span class="stl_287 stl_08 stl_394" style="word-spacing:-0.0418em;">Royalty rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.3589em;top:22.2849em;"><span class="stl_287 stl_08 stl_117">20%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3895em;top:22.2849em;"><span class="stl_287 stl_08 stl_199">25%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.3902em;top:22.2849em;"><span class="stl_287 stl_08 stl_117">20%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:23.2062em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0383em;">Pre-tax discount rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.8527em;top:23.2062em;"><span class="stl_287 stl_08 stl_212">14.5%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.947em;top:23.2062em;"><span class="stl_287 stl_08 stl_813">11.9%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.9614em;top:23.2062em;"><span class="stl_287 stl_08 stl_813">11.9%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:24.6318em;"><span class="stl_288 stl_11 stl_285" style="word-spacing:-0.0388em;">Sensitivity analysis – impact on headroom</span><sup style="top: -0.2075em;"><span class="stl_295 stl_11 stl_842" style="word-spacing:-0.0665em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.5613em;"><span class="stl_287 stl_08 stl_157" style="word-spacing:-0.0195em;">Revenue (CAGR)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.0464em;top:25.5613em;"><span class="stl_287 stl_08 stl_353">-6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7901em;top:25.5613em;"><span class="stl_287 stl_08 stl_795">-13  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.802em;top:25.5613em;"><span class="stl_287 stl_08 stl_346">-15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.4825em;"><span class="stl_287 stl_08 stl_540" style="word-spacing:-0.0416em;">Royalty rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7126em;top:26.4825em;"><span class="stl_287 stl_08 stl_57">-29  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7433em;top:26.4825em;"><span class="stl_287 stl_08 stl_354">-51  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.772em;top:26.4825em;"><span class="stl_287 stl_08 stl_323">-75  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:27.4038em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0383em;">Pre-tax discount rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.047em;top:27.4038em;"><span class="stl_287 stl_08 stl_353">-6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7945em;top:27.4038em;"><span class="stl_287 stl_08 stl_359">-12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8076em;top:27.4038em;"><span class="stl_287 stl_08 stl_50">-14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.68em;"><span class="stl_911 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.1998em;top:28.6415em;"><span class="stl_235 stl_08 stl_617" style="word-spacing:-0.0521em;">Sensitivity for revenue and royalty rate is based on a 5 percentage points decrease, and pre-tax discount rate is based on a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.1998em;top:29.3915em;"><span class="stl_235 stl_08 stl_641" style="word-spacing:-0.0507em;">1 percentage point increase  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.0494em;top:10.4899em;"><span class="stl_288 stl_11 stl_161">Cholangio  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.4613em;top:10.4899em;"><span class="stl_288 stl_11 stl_361">Colon  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4251em;top:10.4899em;"><span class="stl_288 stl_11 stl_403">Duodeno  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2157em;top:10.4899em;"><span class="stl_288 stl_11 stl_643">Gastro  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:12.0412em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:12.9699em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0415em;">Carrying amount, tested technology  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.5663em;top:12.9699em;"><span class="stl_287 stl_08 stl_122">26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.1963em;top:12.9699em;"><span class="stl_287 stl_08 stl_112">254  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.2857em;top:12.9699em;"><span class="stl_287 stl_08 stl_352">416  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2432em;top:12.9699em;"><span class="stl_287 stl_08 stl_378">227  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:13.8912em;"><span class="stl_287 stl_08 stl_202" style="word-spacing:-0.0156em;">Impairment loss (-) / headroom (+)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.3744em;top:13.8912em;"><span class="stl_287 stl_08 stl_307">-26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.0763em;top:13.8912em;"><span class="stl_287 stl_08 stl_315">-162  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0926em;top:13.8912em;"><span class="stl_287 stl_08 stl_906">-139  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6326em;top:13.8912em;"><span class="stl_287 stl_08 stl_251">67  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4469em;top:14.8124em;"><span class="stl_287 stl_08 stl_285" style="word-spacing:-0.0388em;">Carrying amount at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.0932em;top:14.8124em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.5663em;top:14.8124em;"><span class="stl_287 stl_08 stl_78">92  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.2301em;top:14.8124em;"><span class="stl_287 stl_08 stl_227">277  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2419em;top:14.8124em;"><span class="stl_287 stl_08 stl_378">227  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4469em;top:16.2456em;"><span class="stl_871 stl_651 stl_361" style="word-spacing:-0.0369em;">Carrying amount is classified as:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4469em;top:17.1668em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0373em;">Acquired technologies, trademarks and cust. relations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.0932em;top:17.1668em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.5932em;top:17.1668em;"><span class="stl_287 stl_08 stl_485">71  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.2963em;top:17.1668em;"><span class="stl_287 stl_08 stl_790">161  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5976em;top:17.1668em;"><span class="stl_287 stl_08 stl_78">92  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4463em;top:18.0881em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">Completed development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.0926em;top:18.0881em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.5844em;top:18.0881em;"><span class="stl_287 stl_08 stl_63">21  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3063em;top:18.0881em;"><span class="stl_287 stl_08 stl_388">116  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2788em;top:18.0881em;"><span class="stl_287 stl_08 stl_376">128  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4463em;top:19.0093em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0397em;">Development projects and other assets in progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.0926em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.1082em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:67.1238em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9707em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4457em;top:20.4349em;"><span class="stl_288 stl_11 stl_510" style="word-spacing:-0.0392em;">Budget period  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4457em;top:21.3637em;"><span class="stl_287 stl_08 stl_157" style="word-spacing:-0.0195em;">Revenue (CAGR)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.0557em;top:21.3637em;"><span class="stl_287 stl_08 stl_354">19%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.1288em;top:21.3637em;"><span class="stl_287 stl_08 stl_730">61%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0732em;top:21.3637em;"><span class="stl_287 stl_08 stl_217">27%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4457em;top:22.2849em;"><span class="stl_287 stl_08 stl_394" style="word-spacing:-0.0418em;">Royalty rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.0269em;top:22.2849em;"><span class="stl_287 stl_08 stl_117">20%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0576em;top:22.2849em;"><span class="stl_287 stl_08 stl_199">25%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0582em;top:22.2849em;"><span class="stl_287 stl_08 stl_117">20%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4451em;top:23.2062em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0383em;">Pre-tax discount rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.6101em;top:23.2062em;"><span class="stl_287 stl_08 stl_580">14.1%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.5901em;top:23.2062em;"><span class="stl_287 stl_08 stl_874">11.5%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6044em;top:23.2062em;"><span class="stl_287 stl_08 stl_874">11.5%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4444em;top:24.6318em;"><span class="stl_288 stl_11 stl_285" style="word-spacing:-0.0387em;">Sensitivity analysis – impact on headroom</span><sup style="top: -0.2075em;"><span class="stl_295 stl_11 stl_910" style="word-spacing:-0.0664em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:25.5613em;"><span class="stl_287 stl_08 stl_119">Revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.7269em;top:25.5613em;"><span class="stl_287 stl_08 stl_300">-5  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.4601em;top:25.5613em;"><span class="stl_287 stl_08 stl_50">-14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.4763em;top:25.5613em;"><span class="stl_287 stl_08 stl_912">-16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.4825em;"><span class="stl_287 stl_08 stl_394" style="word-spacing:-0.0418em;">Royalty rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.3919em;top:26.4825em;"><span class="stl_287 stl_08 stl_307">-26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3713em;top:26.4825em;"><span class="stl_287 stl_08 stl_47">-56  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.3713em;top:26.4825em;"><span class="stl_287 stl_08 stl_434">-80  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.4038em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0383em;">Pre-tax discount rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.7632em;top:27.4038em;"><span class="stl_287 stl_08 stl_356">-7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.4557em;top:27.4038em;"><span class="stl_287 stl_08 stl_346">-15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.4763em;top:27.4038em;"><span class="stl_287 stl_08 stl_912">-16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.68em;"><span class="stl_911 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.869em;top:28.6415em;"><span class="stl_235 stl_08 stl_617" style="word-spacing:-0.0521em;">Sensitivity for revenue and royalty rate is based on a 5 percentage points decrease, and pre-tax discount rate is based on a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.869em;top:29.3915em;"><span class="stl_235 stl_08 stl_420" style="word-spacing:-0.0507em;">1 percentage point increase  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.002em;top:10.4899em;"><span class="stl_288 stl_11 stl_404" style="word-spacing:1.127em;">Other Property,</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.877em;top:10.4899em;"><span class="stl_288 stl_11 stl_161">plant  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.5127em;top:11.2399em;"><span class="stl_288 stl_11 stl_528" style="word-spacing:-0.0444em;">Land and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.1289em;top:11.2399em;"><span class="stl_288 stl_11 stl_100" style="word-spacing:-0.0343em;">Plant and</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.934em;top:11.2399em;"><span class="stl_288 stl_11 stl_271" style="word-spacing:-0.0372em;">and equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.019em;top:11.2399em;"><span class="stl_288 stl_11 stl_631" style="word-spacing:-0.0531em;">fixtures and</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.9974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.402em;top:11.9899em;"><span class="stl_288 stl_11 stl_74">buildings  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.7695em;top:11.9899em;"><span class="stl_288 stl_11 stl_522">machinery  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.3877em;top:11.9899em;"><span class="stl_288 stl_11 stl_361">equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.9452em;top:11.9899em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0425em;">in progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.697em;top:11.9899em;"><span class="stl_288 stl_11 stl_579">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.5174em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.3756em;"><span class="stl_287 stl_08 stl_536" style="word-spacing:-0.0456em;">Cost at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.3058em;top:14.3756em;"><span class="stl_287 stl_08 stl_657">291  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0102em;top:14.3756em;"><span class="stl_287 stl_08 stl_45">583  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.7458em;top:14.3756em;"><span class="stl_287 stl_08 stl_208">265  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7877em;top:14.3756em;"><span class="stl_287 stl_08 stl_55">82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.6339em;top:14.3756em;"><span class="stl_287 stl_08 stl_393">1,221  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.2262em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.5483em;top:15.2262em;"><span class="stl_287 stl_08 stl_857">-17  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.1745em;top:15.2262em;"><span class="stl_287 stl_08 stl_47">-35  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.2589em;top:15.2262em;"><span class="stl_287 stl_08 stl_353">-6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.942em;top:15.2262em;"><span class="stl_287 stl_08 stl_93">-3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.3283em;top:15.2262em;"><span class="stl_287 stl_08 stl_353">-</span><span class="stl_287 stl_08 stl_388">6</span><span class="stl_287 stl_08 stl_388">1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.0768em;"><span class="stl_287 stl_08 stl_45" style="word-spacing:-0.033em;">Additions during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.2052em;top:16.0768em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.9295em;top:16.0768em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.6539em;top:16.0768em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.5145em;top:16.0768em;"><span class="stl_287 stl_08 stl_854">117  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.2389em;top:16.0768em;"><span class="stl_287 stl_08 stl_854">117  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.9274em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">Disposals during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.8739em;top:16.9274em;"><span class="stl_287 stl_08 stl_791">-1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2002em;top:16.9274em;"><span class="stl_287 stl_08 stl_378">-22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.9877em;top:16.9274em;"><span class="stl_287 stl_08 stl_50">-14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3233em;top:16.9274em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.3114em;top:16.9274em;"><span class="stl_287 stl_08 stl_210">-37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.7781em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.0301em;">Transferred during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.0364em;top:17.7781em;"><span class="stl_287 stl_08 stl_25">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.3933em;top:17.7781em;"><span class="stl_287 stl_08 stl_55">82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1595em;top:17.7781em;"><span class="stl_287 stl_08 stl_369">17  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.2664em;top:17.7781em;"><span class="stl_287 stl_08 stl_371">-108  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0477em;top:17.7781em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.6212em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0426em;">Cost at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.1783em;top:18.6212em;"><span class="stl_288 stl_11 stl_108">282  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.8933em;top:18.6212em;"><span class="stl_288 stl_11 stl_267">608  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6352em;top:18.6212em;"><span class="stl_288 stl_11 stl_189">262  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7039em;top:18.6212em;"><span class="stl_288 stl_11 stl_33">88  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.4114em;top:18.6212em;"><span class="stl_288 stl_11 stl_103">1,240  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.9199em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.0371em;">Depreciation and impairment losses at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.2245em;top:19.9199em;"><span class="stl_287 stl_08 stl_843">-114  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.8158em;top:19.9199em;"><span class="stl_287 stl_08 stl_157">-387  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6139em;top:19.9199em;"><span class="stl_287 stl_08 stl_913">-138  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:19.9199em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.9077em;top:19.9199em;"><span class="stl_287 stl_08 stl_432">-639  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7802em;top:20.7705em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.037em;top:20.7705em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.3945em;top:20.7705em;"><span class="stl_287 stl_08 stl_328">23  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.4858em;top:20.7705em;"><span class="stl_287 stl_08 stl_25">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:20.7705em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5027em;top:20.7705em;"><span class="stl_287 stl_08 stl_297">34  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.6212em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">Disposals during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.2052em;top:21.6212em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.3945em;top:21.6212em;"><span class="stl_287 stl_08 stl_189">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1458em;top:21.6212em;"><span class="stl_287 stl_08 stl_326">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3233em;top:21.6212em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5045em;top:21.6212em;"><span class="stl_287 stl_08 stl_148">35  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:22.4718em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">Impairment losses for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.2045em;top:22.4718em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.9289em;top:22.4718em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.6533em;top:22.4718em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3227em;top:22.4718em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.047em;top:22.4718em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:23.3224em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0336em;">Depreciation for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.8139em;top:23.3224em;"><span class="stl_287 stl_08 stl_303">-8  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.1839em;top:23.3224em;"><span class="stl_287 stl_08 stl_33">-47  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.9339em;top:23.3224em;"><span class="stl_287 stl_08 stl_77">-27  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3227em;top:23.3224em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.2889em;top:23.3224em;"><span class="stl_287 stl_08 stl_433">-82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:24.1655em;"><span class="stl_288 stl_11 stl_510" style="word-spacing:-0.0391em;">Depreciation and impairment losses at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0827em;top:24.1655em;"><span class="stl_288 stl_11 stl_791">-115  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6852em;top:24.1655em;"><span class="stl_288 stl_11 stl_487">-391  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4764em;top:24.1655em;"><span class="stl_288 stl_11 stl_812">-146  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3133em;top:24.1655em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.7827em;top:24.1655em;"><span class="stl_288 stl_11 stl_404">-652  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:25.0162em;"><span class="stl_288 stl_11 stl_471" style="word-spacing:-0.0432em;">Carrying amount at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.2377em;top:25.0162em;"><span class="stl_288 stl_11 stl_825">167  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9552em;top:25.0162em;"><span class="stl_288 stl_11 stl_41">217  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.7039em;top:25.0162em;"><span class="stl_288 stl_11 stl_914">116  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7027em;top:25.0162em;"><span class="stl_288 stl_11 stl_33">88  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.0183em;top:25.0162em;"><span class="stl_288 stl_11 stl_137">588  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:26.7406em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:27.5987em;"><span class="stl_287 stl_08 stl_536" style="word-spacing:-0.0456em;">Cost at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.3164em;top:27.5987em;"><span class="stl_287 stl_08 stl_307">287  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0295em;top:27.5987em;"><span class="stl_287 stl_08 stl_657">537  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.7445em;top:27.5987em;"><span class="stl_287 stl_08 stl_126">285  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7945em;top:27.5987em;"><span class="stl_287 stl_08 stl_77">79  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.7008em;top:27.5987em;"><span class="stl_287 stl_08 stl_327">1,188  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:28.4493em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.0358em;top:28.4493em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.7602em;top:28.4493em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.9864em;top:28.4493em;"><span class="stl_287 stl_08 stl_795">-13  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.9914em;top:28.4493em;"><span class="stl_287 stl_08 stl_791">-1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.6495em;top:28.4493em;"><span class="stl_287 stl_08 stl_781">-4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:29.2999em;"><span class="stl_287 stl_08 stl_45" style="word-spacing:-0.033em;">Additions during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.2045em;top:29.2999em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.7602em;top:29.2999em;"><span class="stl_287 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.6533em;top:29.2999em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7777em;top:29.2999em;"><span class="stl_287 stl_08 stl_161">86  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.4989em;top:29.2999em;"><span class="stl_287 stl_08 stl_404">88  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:30.1506em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">Disposals during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.8439em;top:30.1506em;"><span class="stl_287 stl_08 stl_77">-2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.1995em;top:30.1506em;"><span class="stl_287 stl_08 stl_57">-29  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.927em;top:30.1506em;"><span class="stl_287 stl_08 stl_227">-20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3227em;top:30.1506em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.3327em;top:30.1506em;"><span class="stl_287 stl_08 stl_354">-51  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:31.0012em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.0301em;">Transferred during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.0352em;top:31.0012em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.3839em;top:31.0012em;"><span class="stl_287 stl_08 stl_155">68  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1483em;top:31.0012em;"><span class="stl_287 stl_08 stl_352">13  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.5645em;top:31.0012em;"><span class="stl_287 stl_08 stl_433">-82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.047em;top:31.0012em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:31.8443em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0426em;">Cost at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.1852em;top:31.8443em;"><span class="stl_288 stl_11 stl_189">291  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.8958em;top:31.8443em;"><span class="stl_288 stl_11 stl_76">583  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.622em;top:31.8443em;"><span class="stl_288 stl_11 stl_112">265  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7052em;top:31.8443em;"><span class="stl_288 stl_11 stl_108">82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.4327em;top:31.8443em;"><span class="stl_288 stl_11 stl_378">1,221  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:33.1431em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.0371em;">Depreciation and impairment losses at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.227em;top:33.1431em;"><span class="stl_287 stl_08 stl_915">-112  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.802em;top:33.1431em;"><span class="stl_287 stl_08 stl_155">-360  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6245em;top:33.1431em;"><span class="stl_287 stl_08 stl_909">-132  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3227em;top:33.1431em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.8939em;top:33.1431em;"><span class="stl_287 stl_08 stl_674">-604  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:33.9937em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.2045em;top:33.9937em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.5689em;top:33.9937em;"><span class="stl_287 stl_08 stl_77">-2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.4845em;top:33.9937em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3227em;top:33.9937em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.8783em;top:33.9937em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:34.8443em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">Disposals during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.0358em;top:34.8443em;"><span class="stl_287 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.3933em;top:34.8443em;"><span class="stl_287 stl_08 stl_328">23  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1445em;top:34.8443em;"><span class="stl_287 stl_08 stl_364">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3227em;top:34.8443em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.4914em;top:34.8443em;"><span class="stl_287 stl_08 stl_523">43  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:35.6949em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">Impairment losses for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.2045em;top:35.6949em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.5452em;top:35.6949em;"><span class="stl_287 stl_08 stl_300">-5  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.322em;top:35.6949em;"><span class="stl_287 stl_08 stl_791">-1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3227em;top:35.6949em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.652em;top:35.6949em;"><span class="stl_287 stl_08 stl_353">-6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:36.5456em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0336em;">Depreciation for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.807em;top:36.5456em;"><span class="stl_287 stl_08 stl_781">-4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.1445em;top:36.5456em;"><span class="stl_287 stl_08 stl_787">-43  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.9333em;top:36.5456em;"><span class="stl_287 stl_08 stl_77">-28  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3227em;top:36.5456em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.3458em;top:36.5456em;"><span class="stl_287 stl_08 stl_323">-75  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:37.3887em;"><span class="stl_288 stl_11 stl_510" style="word-spacing:-0.0391em;">Depreciation and impairment losses at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0845em;top:37.3887em;"><span class="stl_288 stl_11 stl_577">-114  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6852em;top:37.3887em;"><span class="stl_288 stl_11 stl_349">-387  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4814em;top:37.3887em;"><span class="stl_288 stl_11 stl_332">-138  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3145em;top:37.3887em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.7814em;top:37.3887em;"><span class="stl_288 stl_11 stl_334">-639  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:38.2393em;"><span class="stl_288 stl_11 stl_471" style="word-spacing:-0.0432em;">Carrying amount at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.2302em;top:38.2393em;"><span class="stl_288 stl_11 stl_813">177  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9427em;top:38.2393em;"><span class="stl_288 stl_11 stl_230">196  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.667em;top:38.2393em;"><span class="stl_288 stl_11 stl_230">127  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7052em;top:38.2393em;"><span class="stl_288 stl_11 stl_108">82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.0208em;top:38.2393em;"><span class="stl_288 stl_11 stl_208">582  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:29.2862em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:30.0437em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">Staff costs comprise remuneration, wages and salaries, pension contributions, etc., and share-based pay-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:30.7937em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0363em;">ment to the company’s employees, incl. termination benefits. The Group has no defined benefit plans.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:29.2812em;"><span class="stl_288 stl_11 stl_372" style="word-spacing:-0.0376em;">§ Accounting policy  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:30.0387em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">The fair value of Ambu’s share-based payment is expensed on an accrual basis. Fair value of equity-based  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:30.7887em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">schemes at the time of allocation is calculated according to recognized valuation models or methods. This  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:31.5387em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">value is expensed over the service period for each of the respective schemes and is taken to equity. On rec-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:32.2887em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">ognition of the fair value during the service period, account is taken of the number of employees who are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:33.0387em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">expected to obtain a final right to the scheme, including the conditions to which the allocation is subject.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:33.7887em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0395em;">This estimate is reassessed at the end of each reporting period so that only the number of rights expected to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:34.5387em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">be vested is recognized. Adjustments relating to previous periods are recognized in the period in which the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:35.2887em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0343em;">adjustment is made. The fair value per unit does not change.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:31.8737em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:32.6312em;"><span class="stl_287 stl_08 stl_78" style="word-spacing:-0.028em;">For a description of accounting policies, reference is made to notes 3.1, 3.2, and 3.3.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:10.478em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.2355em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0357em;">On recognition, goodwill represents the excess cost of an acquisition over the fair value of the identifiable net  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.9855em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0326em;">assets of the acquired company. Subsequently, goodwill is measured at cost less accumulated impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:12.7355em;"><span class="stl_287 stl_08 stl_294" style="word-spacing:-0.0406em;">losses. Goodwill is not amortized.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.2355em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">At the time of acquisition, goodwill is attributed to the cash-generating units which are expected to benefit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.9855em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.0301em;">from the business combination; however, not to a level lower than the segment level and the level at which  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:15.7355em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">goodwill is monitored as part of the internal financial management. The Management has identified one  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:16.4855em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0353em;">operating segment as being the whole Group to which goodwill is allocated.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:17.9855em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0389em;">The carrying amount of goodwill is tested for impairment together with the other non-current assets of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:18.7355em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0341em;">cash-generating unit to which goodwill has been allocated (being the whole Group) and is impaired to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:19.4855em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0339em;">recoverable amount in the income statement if the carrying amount is higher. Impairment of goodwill is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.2355em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0367em;">recognized as a separate item in the income statement. Goodwill is tested annually for impairment, the first  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.9855em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0347em;">time being by the end of the year of recognition in connection with a business combination.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:22.4855em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">The impairment test of goodwill is based on the quoted price on Nasdaq Copenhagen at the balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:23.2355em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0331em;">date. Therefore the impairment test is taking base in level 1 in accordance with the fair value hierarchy.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:24.7355em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">Impairment of goodwill is not reversed. Impairment of other assets is reversed in so far as the assumptions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:25.4855em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">and estimates on the basis of which the impairment is made have been changed. Impairments are only  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.2355em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">reversed in so far as the new carrying amount of the asset does not exceed the carrying amount of the asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.9855em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">after amortization, had the asset not been impaired.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:9.965em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0353em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:10.7225em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Acquired technologies, trademarks, and customer relations, primarily  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:11.4725em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">comprising identified technologies, are recognized at fair value at the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:12.2225em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">time of acquisition in connection with a business combination. Any  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:12.9725em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">other intangible asset is recognized at cost.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:14.4725em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">Development and IT projects are recognized as intangible assets if  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:15.2225em;"><span class="stl_287 stl_08 stl_31" style="word-spacing:-0.042em;">they meet certain criteria. These projects must be clearly defined and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:15.9725em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0376em;">identifiable, with proven technical feasibility and sufficient resources  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:16.7225em;"><span class="stl_287 stl_08 stl_150" style="word-spacing:-0.0297em;">available for completion. Additionally, there should be a potential mar-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:17.4725em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0351em;">ket or scope for the project, and the Group must intend to produce,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:18.2225em;"><span class="stl_287 stl_08 stl_309" style="word-spacing:-0.0411em;">market, or use the project. The directly attributable cost should be  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:18.9725em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0377em;">reliably measurable, and there must be certainty that future earnings  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:19.7225em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0349em;">or the net selling price will cover all costs.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:21.215em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0418em;">Useful lifetime and residual value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:21.9725em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">Intangible assets, excl. goodwill, are amortized according to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:22.7225em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">straight-line method over the expected useful lifetime of the indi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:23.4725em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0384em;">vidual asset. The residual value for all intangible assets is assessed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:24.2225em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0363em;">as zero. The amortization of the intangible asset commences upon  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:24.9725em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0375em;">completion of the project or when the asset is ready for use. The basis  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:25.7225em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">of amortization is reduced by impairment losses, if any. The useful  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:26.4725em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">life of the asset may subsequently be changed if the original assump-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:27.2225em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0328em;">tions on which the useful life and any residual value are based have  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:27.9725em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0333em;">changed significantly.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:29.4725em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">The expected useful lifetimes of intangible assets are as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:30.9725em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.034em;">Acquired technologies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8245em;top:30.9725em;"><span class="stl_287 stl_08 stl_866">5</span><span class="stl_287 stl_08 stl_302">-</span><span class="stl_287 stl_08 stl_105" style="word-spacing:-0.0152em;">15 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:31.7225em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">Completed development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8189em;top:31.7225em;"><span class="stl_287 stl_08 stl_866">5</span><span class="stl_287 stl_08 stl_302">-</span><span class="stl_287 stl_08 stl_140" style="word-spacing:-0.0188em;">10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:32.4725em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">Distribution rights, patents, and licenses, etc.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.7689em;top:32.4725em;"><span class="stl_287 stl_08 stl_37" style="word-spacing:-0.0311em;">5-20 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:33.2225em;"><span class="stl_287 stl_08 stl_521" style="word-spacing:-0.0528em;">IT software projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.1158em;top:33.2225em;"><span class="stl_287 stl_08 stl_322" style="word-spacing:-0.046em;">3-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5652em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.3183em;"><span class="stl_438 stl_92 stl_471" style="word-spacing:-0.0432em;">Impairment testing of other intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0727em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">At each reporting date, the Management performs an assessment of whether internal or external indications  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.8227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0359em;">of impairment of the identified intangible assets exist. If there is any indication of impairment, an impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.5727em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0373em;">test is carried out. If an indication of impairment exists, the recoverable amount of the asset is determined,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.3227em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">i.e. the higher of the fair value of the asset, less anticipated costs of disposal and its value-in-use. For assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.0727em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">that are either fully or partially impaired, both their fair value and value-in-use are assessed to verify whether  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.8227em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">the impairment remains and to determine if further impairment, or a reversal of previously recorded impair-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.5727em;"><span class="stl_287 stl_08 stl_412" style="word-spacing:-0.0407em;">ment losses, is necessary.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.0727em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0345em;">Reversals of previously recognized impairment losses are only recorded when there is a change in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.8227em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0367em;">assumptions for the original impairment. This includes changes in expected future cash flows or the discount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.5727em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">rate, in the case of value-in-use, or an increase in fair value, reflecting a genuine improvement of the asset’s  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.3227em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0332em;">recoverable amount, excluding changes solely due to the passage of time.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.8227em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">Development projects in progress, either acquired or internally generated, are tested for impairment mini-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.5727em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">mum on an annual basis and if there is any indication of impairment. For completed development projects, it  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.3227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">is continuously assessed whether there is any indication of impairment.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.8227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">Impairment tests are either carried out by calculating the value in use, by using a discounted cashflow model,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.5727em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0363em;">or by calculating the fair value, depending on the type of intangible asset. If the initial impairment test shows  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.3227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">a calculated amount lower than the carrying value of the asset, both fair value and value in use are calculated,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.0727em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0339em;">and an impairment loss is recognized at the higher amount of either fair value or value in use if both calcu-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.8227em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0381em;">lated values are below the carrying amount of the asset. The impairment assessment, and the possible fol-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.5727em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.0379em;">lowing impairment test, is carried out per individual asset.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:10.4781em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:11.2356em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">Land and buildings, plant and machinery, and other plant, fixtures  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:11.9856em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0375em;">and fittings, tools and equipment are measured at cost less accu-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:12.7356em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">mulated depreciation and impairment losses. Cost comprises the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:13.4856em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0381em;">acquisition price and any costs directly attributable to the acquisition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:14.2356em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">until the date when the asset is ready for use. The cost of a total asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:14.9856em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">is divided into separate elements which are depreciated individually  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:15.7356em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">when the useful lives of the individual elements differ.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:17.2312em;"><span class="stl_438 stl_92 stl_207" style="word-spacing:-0.0409em;">Useful lifetime and residual value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:17.9856em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">The basis of depreciation is calculated in consideration of the resi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:18.7356em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0328em;">dual value of the asset and is reduced by impairment losses, if any.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:19.4856em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">The residual value is fixed at the date of acquisition and is subject to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:20.2356em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0336em;">annual review. When the residual value exceeds the carrying amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:20.9856em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0365em;">of the asset, depreciation will no longer take place. In connection with  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:21.7356em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">changes in the depreciation period or the residual value, the effect  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:22.4856em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0324em;">of depreciation is recognized in future as a change in the accounting  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:23.2356em;"><span class="stl_287 stl_08 stl_39">estimate.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:24.7356em;"><span class="stl_287 stl_08 stl_47" style="word-spacing:-0.0399em;">The carrying amount of property, plant, and equipment is assessed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:25.4856em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">on an annual basis to establish whether there is any indication of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:26.2356em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">impairment. When such indication exists, an impairment test is per-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:26.9856em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">formed. An impairment loss is recognized when the carrying amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:27.7356em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">of an asset exceeds the recoverable amount of the asset.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:29.2356em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0337em;">Property, plant, and equipment are depreciated according to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:29.9856em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.0369em;">straight-line method over the expected useful lives of the assets/com-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:30.7356em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0367em;">ponents, as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:32.2356em;"><span class="stl_287 stl_08 stl_146">Buildings  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.9361em;top:32.2356em;"><span class="stl_287 stl_08 stl_97" style="word-spacing:-0.0423em;">10-40 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:32.9856em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0349em;">Building installations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.9405em;top:32.9856em;"><span class="stl_287 stl_08 stl_137" style="word-spacing:-0.018em;">10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:33.7356em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">Plant and machinery  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.4268em;top:33.7356em;"><span class="stl_287 stl_08 stl_502" style="word-spacing:0.0089em;">2-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:34.4856em;"><span class="stl_287 stl_08 stl_309" style="word-spacing:-0.041em;">Other fixtures and equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.6849em;top:34.4856em;"><span class="stl_287 stl_08 stl_322" style="word-spacing:-0.046em;">3-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:35.9856em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">Land is not depreciated.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:37.4856em;"><span class="stl_287 stl_08 stl_176" style="word-spacing:-0.0355em;">Depreciation is recognized in the income statement under production  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:38.2356em;"><span class="stl_287 stl_08 stl_267" style="word-spacing:-0.041em;">costs, selling, and distribution costs, development costs, or manage-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:38.9856em;"><span class="stl_287 stl_08 stl_110" style="word-spacing:-0.0342em;">ment and administrative expenses, as appropriate. See note 2.4.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:31.8737em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:32.6312em;"><span class="stl_287 stl_08 stl_78" style="word-spacing:-0.028em;">For a description of accounting policies, reference is made to notes 3.1, 3.2, and 3.3.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:10.478em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.2355em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0357em;">On recognition, goodwill represents the excess cost of an acquisition over the fair value of the identifiable net  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.9855em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0326em;">assets of the acquired company. Subsequently, goodwill is measured at cost less accumulated impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:12.7355em;"><span class="stl_287 stl_08 stl_294" style="word-spacing:-0.0406em;">losses. Goodwill is not amortized.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.2355em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">At the time of acquisition, goodwill is attributed to the cash-generating units which are expected to benefit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.9855em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.0301em;">from the business combination; however, not to a level lower than the segment level and the level at which  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:15.7355em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">goodwill is monitored as part of the internal financial management. The Management has identified one  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:16.4855em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0353em;">operating segment as being the whole Group to which goodwill is allocated.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:17.9855em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0389em;">The carrying amount of goodwill is tested for impairment together with the other non-current assets of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:18.7355em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0341em;">cash-generating unit to which goodwill has been allocated (being the whole Group) and is impaired to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:19.4855em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0339em;">recoverable amount in the income statement if the carrying amount is higher. Impairment of goodwill is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.2355em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0367em;">recognized as a separate item in the income statement. Goodwill is tested annually for impairment, the first  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.9855em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0347em;">time being by the end of the year of recognition in connection with a business combination.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:22.4855em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">The impairment test of goodwill is based on the quoted price on Nasdaq Copenhagen at the balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:23.2355em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0331em;">date. Therefore the impairment test is taking base in level 1 in accordance with the fair value hierarchy.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:24.7355em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">Impairment of goodwill is not reversed. Impairment of other assets is reversed in so far as the assumptions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:25.4855em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">and estimates on the basis of which the impairment is made have been changed. Impairments are only  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.2355em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">reversed in so far as the new carrying amount of the asset does not exceed the carrying amount of the asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.9855em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">after amortization, had the asset not been impaired.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:9.965em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0353em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:10.7225em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Acquired technologies, trademarks, and customer relations, primarily  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:11.4725em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">comprising identified technologies, are recognized at fair value at the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:12.2225em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">time of acquisition in connection with a business combination. Any  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:12.9725em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">other intangible asset is recognized at cost.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:14.4725em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">Development and IT projects are recognized as intangible assets if  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:15.2225em;"><span class="stl_287 stl_08 stl_31" style="word-spacing:-0.042em;">they meet certain criteria. These projects must be clearly defined and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:15.9725em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0376em;">identifiable, with proven technical feasibility and sufficient resources  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:16.7225em;"><span class="stl_287 stl_08 stl_150" style="word-spacing:-0.0297em;">available for completion. Additionally, there should be a potential mar-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:17.4725em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0351em;">ket or scope for the project, and the Group must intend to produce,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:18.2225em;"><span class="stl_287 stl_08 stl_309" style="word-spacing:-0.0411em;">market, or use the project. The directly attributable cost should be  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:18.9725em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0377em;">reliably measurable, and there must be certainty that future earnings  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:19.7225em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0349em;">or the net selling price will cover all costs.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:21.215em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0418em;">Useful lifetime and residual value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:21.9725em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">Intangible assets, excl. goodwill, are amortized according to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:22.7225em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">straight-line method over the expected useful lifetime of the indi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:23.4725em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0384em;">vidual asset. The residual value for all intangible assets is assessed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:24.2225em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0363em;">as zero. The amortization of the intangible asset commences upon  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:24.9725em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0375em;">completion of the project or when the asset is ready for use. The basis  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:25.7225em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">of amortization is reduced by impairment losses, if any. The useful  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:26.4725em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">life of the asset may subsequently be changed if the original assump-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:27.2225em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0328em;">tions on which the useful life and any residual value are based have  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:27.9725em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0333em;">changed significantly.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:29.4725em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">The expected useful lifetimes of intangible assets are as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:30.9725em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.034em;">Acquired technologies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8245em;top:30.9725em;"><span class="stl_287 stl_08 stl_866">5</span><span class="stl_287 stl_08 stl_302">-</span><span class="stl_287 stl_08 stl_105" style="word-spacing:-0.0152em;">15 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:31.7225em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">Completed development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8189em;top:31.7225em;"><span class="stl_287 stl_08 stl_866">5</span><span class="stl_287 stl_08 stl_302">-</span><span class="stl_287 stl_08 stl_140" style="word-spacing:-0.0188em;">10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:32.4725em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">Distribution rights, patents, and licenses, etc.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.7689em;top:32.4725em;"><span class="stl_287 stl_08 stl_37" style="word-spacing:-0.0311em;">5-20 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:33.2225em;"><span class="stl_287 stl_08 stl_521" style="word-spacing:-0.0528em;">IT software projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.1158em;top:33.2225em;"><span class="stl_287 stl_08 stl_322" style="word-spacing:-0.046em;">3-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5652em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.3183em;"><span class="stl_438 stl_92 stl_471" style="word-spacing:-0.0432em;">Impairment testing of other intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0727em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">At each reporting date, the Management performs an assessment of whether internal or external indications  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.8227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0359em;">of impairment of the identified intangible assets exist. If there is any indication of impairment, an impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.5727em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0373em;">test is carried out. If an indication of impairment exists, the recoverable amount of the asset is determined,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.3227em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">i.e. the higher of the fair value of the asset, less anticipated costs of disposal and its value-in-use. For assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.0727em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">that are either fully or partially impaired, both their fair value and value-in-use are assessed to verify whether  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.8227em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">the impairment remains and to determine if further impairment, or a reversal of previously recorded impair-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.5727em;"><span class="stl_287 stl_08 stl_412" style="word-spacing:-0.0407em;">ment losses, is necessary.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.0727em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0345em;">Reversals of previously recognized impairment losses are only recorded when there is a change in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.8227em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0367em;">assumptions for the original impairment. This includes changes in expected future cash flows or the discount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.5727em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">rate, in the case of value-in-use, or an increase in fair value, reflecting a genuine improvement of the asset’s  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.3227em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0332em;">recoverable amount, excluding changes solely due to the passage of time.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.8227em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">Development projects in progress, either acquired or internally generated, are tested for impairment mini-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.5727em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">mum on an annual basis and if there is any indication of impairment. For completed development projects, it  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.3227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">is continuously assessed whether there is any indication of impairment.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.8227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">Impairment tests are either carried out by calculating the value in use, by using a discounted cashflow model,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.5727em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0363em;">or by calculating the fair value, depending on the type of intangible asset. If the initial impairment test shows  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.3227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">a calculated amount lower than the carrying value of the asset, both fair value and value in use are calculated,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.0727em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0339em;">and an impairment loss is recognized at the higher amount of either fair value or value in use if both calcu-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.8227em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0381em;">lated values are below the carrying amount of the asset. The impairment assessment, and the possible fol-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.5727em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.0379em;">lowing impairment test, is carried out per individual asset.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:10.4781em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:11.2356em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">Land and buildings, plant and machinery, and other plant, fixtures  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:11.9856em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0375em;">and fittings, tools and equipment are measured at cost less accu-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:12.7356em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">mulated depreciation and impairment losses. Cost comprises the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:13.4856em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0381em;">acquisition price and any costs directly attributable to the acquisition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:14.2356em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">until the date when the asset is ready for use. The cost of a total asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:14.9856em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">is divided into separate elements which are depreciated individually  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:15.7356em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">when the useful lives of the individual elements differ.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:17.2312em;"><span class="stl_438 stl_92 stl_207" style="word-spacing:-0.0409em;">Useful lifetime and residual value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:17.9856em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">The basis of depreciation is calculated in consideration of the resi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:18.7356em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0328em;">dual value of the asset and is reduced by impairment losses, if any.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:19.4856em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">The residual value is fixed at the date of acquisition and is subject to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:20.2356em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0336em;">annual review. When the residual value exceeds the carrying amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:20.9856em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0365em;">of the asset, depreciation will no longer take place. In connection with  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:21.7356em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">changes in the depreciation period or the residual value, the effect  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:22.4856em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0324em;">of depreciation is recognized in future as a change in the accounting  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:23.2356em;"><span class="stl_287 stl_08 stl_39">estimate.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:24.7356em;"><span class="stl_287 stl_08 stl_47" style="word-spacing:-0.0399em;">The carrying amount of property, plant, and equipment is assessed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:25.4856em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">on an annual basis to establish whether there is any indication of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:26.2356em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">impairment. When such indication exists, an impairment test is per-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:26.9856em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">formed. An impairment loss is recognized when the carrying amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:27.7356em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">of an asset exceeds the recoverable amount of the asset.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:29.2356em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0337em;">Property, plant, and equipment are depreciated according to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:29.9856em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.0369em;">straight-line method over the expected useful lives of the assets/com-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:30.7356em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0367em;">ponents, as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:32.2356em;"><span class="stl_287 stl_08 stl_146">Buildings  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.9361em;top:32.2356em;"><span class="stl_287 stl_08 stl_97" style="word-spacing:-0.0423em;">10-40 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:32.9856em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0349em;">Building installations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.9405em;top:32.9856em;"><span class="stl_287 stl_08 stl_137" style="word-spacing:-0.018em;">10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:33.7356em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">Plant and machinery  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.4268em;top:33.7356em;"><span class="stl_287 stl_08 stl_502" style="word-spacing:0.0089em;">2-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:34.4856em;"><span class="stl_287 stl_08 stl_309" style="word-spacing:-0.041em;">Other fixtures and equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.6849em;top:34.4856em;"><span class="stl_287 stl_08 stl_322" style="word-spacing:-0.046em;">3-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:35.9856em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">Land is not depreciated.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:37.4856em;"><span class="stl_287 stl_08 stl_176" style="word-spacing:-0.0355em;">Depreciation is recognized in the income statement under production  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:38.2356em;"><span class="stl_287 stl_08 stl_267" style="word-spacing:-0.041em;">costs, selling, and distribution costs, development costs, or manage-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:38.9856em;"><span class="stl_287 stl_08 stl_110" style="word-spacing:-0.0342em;">ment and administrative expenses, as appropriate. See note 2.4.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2256em;"><span class="stl_418 stl_11 stl_139" style="word-spacing:-0.035em;">2.5 Financial risks from operating activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5343em;"><span class="stl_438 stl_92 stl_404" style="word-spacing:-0.044em;">Foreign currency risks  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2887em;z-index:155;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0329em;">The majority of Ambu's sales are invoiced in USD, EUR, and GB</span><span class="stl_287 stl_08 stl_896">P</span><span class="stl_287 stl_08 stl_25" style="word-spacing:0em;">. </span><span class="stl_287 stl_08 stl_93">T</span><span class="stl_287 stl_08 stl_294" style="word-spacing:-0.0406em;">he majority of Ambu's production costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0387em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0338em;">and OPEX are in DKK, USD, EUR, MYR, MXN, and CNY. All assets and liabilities in the subsidiaries' balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.7887em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0359em;">sheets are denominated in foreign currency. As a consequence, fluctuations in these exchange rates against  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.5387em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0363em;">DKK might impact Ambu’s financial position and results. The most important exchange rates in relation to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.2887em;"><span class="stl_287 stl_08 stl_146" style="word-spacing:-0.0319em;">risk exposure are USD, MYR, MXN, CNY, and GBP (collectively referred to as ‘main currencies’). Furthermore,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.0387em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0363em;">EUR is a currency with large exposure, but the risk is deemed limited due to DKK being pegged to EUR.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.5343em;"><span class="stl_438 stl_92 stl_69" style="word-spacing:-0.0465em;">Sensitivity analysis  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.2887em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0338em;">The following table shows the impact on the Group's net profit and other comprehensive income in the event  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.0387em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0361em;">of a 10% fluctuation in the main currencies relative to the recognized financial instruments. The fluctuation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.7887em;"><span class="stl_287 stl_08 stl_169" style="word-spacing:-0.0335em;">of 10% constitutes the management’s assessment of a realistic exchange rate development within the main  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.5387em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0389em;">currencies. The financial instruments comprised by the sensitivity analysis include trade receivables, cash,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.2887em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">payables, trade payables, and intercompany balances. The sensitivity analysis does not take any translation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.0387em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0401em;">effect from functional currency to presentation currency into consideration.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.7702em;top:22.4899em;"><span class="stl_288 stl_11 stl_61" style="word-spacing:-0.0304em;">Decrease of 10%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.3977em;top:22.4899em;"><span class="stl_288 stl_11 stl_23" style="word-spacing:-0.0302em;">Increase of 10%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.2474em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.4908em;top:23.2399em;"><span class="stl_288 stl_11 stl_292" style="word-spacing:-0.0386em;">in main currencies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.9945em;top:23.2399em;"><span class="stl_288 stl_11 stl_292" style="word-spacing:-0.0386em;">in main currencies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.1833em;top:24.4212em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.4427em;top:24.4212em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6839em;top:24.4212em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.9433em;top:24.4212em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:25.9799em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">Income statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.2333em;top:25.9799em;"><span class="stl_287 stl_08 stl_340">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9683em;top:25.9799em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5745em;top:25.9799em;"><span class="stl_287 stl_08 stl_335">-11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.472em;top:25.9799em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:26.9012em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">Other comprehensive income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7158em;top:26.9012em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9677em;top:26.9012em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2195em;top:26.9012em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4714em;top:26.9012em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.1445em;top:27.8149em;"><span class="stl_288 stl_11 stl_669">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9589em;top:27.8149em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4789em;top:27.8149em;"><span class="stl_288 stl_11 stl_897">-11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4627em;top:27.8149em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:30.0003em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.1302em;top:29.9928em;"><span class="stl_288 stl_11 stl_333" style="word-spacing:-0.0471em;">Contract value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2795em;top:29.9928em;"><span class="stl_288 stl_11 stl_79" style="word-spacing:-0.0314em;">Fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.0764em;top:31.174em;"><span class="stl_288 stl_11 stl_283">30.09.25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.4195em;top:31.174em;"><span class="stl_288 stl_11 stl_219">30.09.24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6752em;top:31.174em;"><span class="stl_288 stl_11 stl_283">30.09.25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.5933em;top:31.174em;"><span class="stl_288 stl_11 stl_219">30.09.24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7802em;top:32.7253em;"><span class="stl_288 stl_11 stl_433" style="word-spacing:-0.0449em;">Interest rate swaps:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7802em;top:33.654em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0359em;">Interest rate swap, DKK 250m,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7802em;top:34.404em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">floating to fixed rate, maturity May 2025  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7177em;top:34.404em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.1583em;top:34.404em;"><span class="stl_287 stl_08 stl_62">250  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.3158em;top:34.404em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.0683em;top:34.404em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:35.3178em;"><span class="stl_288 stl_11 stl_155" style="word-spacing:-0.0341em;">Total financial liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7083em;top:35.3178em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0345em;top:35.3178em;"><span class="stl_288 stl_11 stl_137">250  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.3064em;top:35.3178em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.0283em;top:35.3178em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:30.351em;"><span class="stl_438 stl_92 stl_48" style="word-spacing:-0.027em;">Tax risks  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:31.0848em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">To counter any future tax disputes and disagreements with the tax authorities, the Management makes esti-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:31.8141em;"><span class="stl_287 stl_08 stl_169" style="word-spacing:-0.0334em;">mates and assessments of the Group's tax exposure and, on the basis thereof, makes a provision for uncer-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:32.5435em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.0369em;">tain tax positions. Even though the Management considers this provision to be sufficient, future liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:33.2729em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0332em;">may deviate from this.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5343em;"><span class="stl_438 stl_92 stl_334" style="word-spacing:-0.0467em;">Credit risks  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2887em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">Ambu monitors trade receivables on a daily basis by means of due date reports, changes in payment pattern  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0387em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">trends, and ordinary follow-up routines to identify any indications that the initial expectations for credit losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.7887em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0381em;">on the individual receivables should be adjusted. This risk assessment is targeted at private customers.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.2887em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0369em;">Public-sector customers are an important part of the company’s receivables, and it is believed that no debtor  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.0387em;"><span class="stl_287 stl_08 stl_396" style="word-spacing:-0.0404em;">risks are associated with public-sector customers. In addition to a specific assessment for expected credit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.7887em;"><span class="stl_287 stl_08 stl_412" style="word-spacing:-0.0408em;">losses on private customers, the Management estimates general macro risks on the portfolio of trade receiv-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.5387em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0402em;">ables. The Group does not use factoring in connection with the collection of debts.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2256em;z-index:67;"><span class="stl_418 stl_11 stl_432">4</span><span class="stl_418 stl_11 stl_893">.</span><span class="stl_418 stl_11 stl_26" style="word-spacing:-0.0283em;">1 Financial risk management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5387em;"><span class="stl_287 stl_08 stl_145" style="word-spacing:-0.0371em;">Ambu is exposed to fluctuations in foreign exchange and interest rates. Furthermore, Ambu is exposed to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2887em;"><span class="stl_287 stl_08 stl_176" style="word-spacing:-0.0355em;">liquidity and financing risks. These risks are managed and monitored centrally by the parent company in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0387em;"><span class="stl_287 stl_08 stl_115" style="word-spacing:-0.0361em;">accordance with the Finance Policy approved by the Board of Directors. Ambu does not undertake any active  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.7887em;"><span class="stl_287 stl_08 stl_158" style="word-spacing:-0.0367em;">speculation in financial risks.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.0543em;"><span class="stl_438 stl_92 stl_160" style="word-spacing:-0.0417em;">Market risk  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.8087em;"><span class="stl_287 stl_08 stl_61" style="word-spacing:-0.0404em;">Ambu is, as a global business, exposed to tariffs where applicable to Ambu's business sector and its specific  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.5587em;"><span class="stl_287 stl_08 stl_24" style="word-spacing:-0.0367em;">products and components. Tariffs are partly mitigated by the utilization of Ambu's global footprint with the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.3087em;"><span class="stl_287 stl_08 stl_26" style="word-spacing:-0.0381em;">flexibility to move some production between the existing production sites in Asia, the U.S., and Mexico.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.5781em;"><span class="stl_287 stl_08 stl_129" style="word-spacing:-0.0314em;">Additionally, the Group is exposed to changing raw materials prices incl. resin, silver and copper, and freight  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.3281em;"><span class="stl_287 stl_08 stl_118" style="word-spacing:-0.0349em;">rates. Ambu's Global Procurement and Global Supply Chain function, respectively, monitor these risks and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.0781em;"><span class="stl_287 stl_08 stl_162" style="word-spacing:-0.0358em;">work to mitigate them to an acceptable level. The Management assesses these risks to be manageable as they  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.8281em;"><span class="stl_287 stl_08 stl_165" style="word-spacing:-0.0365em;">represent a small value of the total cost, despite substantial volatility in recent years.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.0937em;"><span class="stl_438 stl_92 stl_39" style="word-spacing:-0.0468em;">Currency risk  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.8481em;"><span class="stl_287 stl_08 stl_145" style="word-spacing:-0.0373em;">The effect of fluctuations in foreign exchange rates on the Group’s financial targets and financial position  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.5981em;"><span class="stl_287 stl_08 stl_176" style="word-spacing:-0.0355em;">is monitored on an ongoing basis. Prior years' analyses and ongoing quantification of short term exposure  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.3481em;"><span class="stl_287 stl_08 stl_162" style="word-spacing:-0.0358em;">using reckoned statistical models have indicated an acceptable level of currency risk to Ambu's cash flow and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.0981em;"><span class="stl_287 stl_08 stl_241" style="word-spacing:-0.0344em;">financial targets. On this background, the Company continues to rely on natural hedging given the current mix  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.8481em;"><span class="stl_287 stl_08 stl_143" style="word-spacing:-0.0377em;">of transactions in different foreign exchange rates. See note 2.5 for further information about foreign currency  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.5981em;"><span class="stl_287 stl_08 stl_349" style="word-spacing:-0.0335em;">exposure and the 'Outlook for 2025/26' section in the Management's commentary section.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.8631em;"><span class="stl_438 stl_92 stl_291" style="word-spacing:-0.0458em;">Interest rate risk  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.6175em;"><span class="stl_287 stl_08 stl_214" style="word-spacing:-0.0351em;">Ambu's policy is to hedge material interest rate risk to mitigate fluctuating interest payments, e.g., related to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.3675em;"><span class="stl_287 stl_08 stl_328" style="word-spacing:-0.0359em;">the Group’s committed credit facilities with a floating interest rate where the exposure is linked to IBOR/SOFR  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:29.1175em;"><span class="stl_287 stl_08 stl_16" style="word-spacing:-0.0354em;">reference rates. At year end, Ambu had no utilization of committed credit facilities and therefore also no hedge in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:29.8675em;"><span class="stl_287 stl_08 stl_397">place.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:31.1331em;"><span class="stl_438 stl_92 stl_149" style="word-spacing:-0.0438em;">Liquidity and financing risk  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:31.8875em;"><span class="stl_287 stl_08 stl_24" style="word-spacing:-0.0365em;">Financing and sufficient liquidity are fundamental to Ambu’s continued operation and growth. Liquidity is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:32.6375em;"><span class="stl_287 stl_08 stl_119" style="word-spacing:-0.0349em;">managed centrally from the parent company. The objective of the cash management is to ensure that ade-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:33.3875em;"><span class="stl_287 stl_08 stl_118" style="word-spacing:-0.0348em;">quate and flexible cash resources are being maintained, thus enabling Ambu to honor its current obligations,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:34.1375em;"><span class="stl_287 stl_08 stl_118" style="word-spacing:-0.0347em;">such as repaying loans and settling other liabilities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:35.4031em;"><span class="stl_438 stl_92 stl_165" style="word-spacing:-0.0364em;">Supply chain financing (SCF)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:36.1575em;"><span class="stl_287 stl_08 stl_21" style="word-spacing:-0.0303em;">To improve the relationship with Ambu's suppliers and minimize the financing cost in the value chain, Ambu  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:36.9075em;"><span class="stl_287 stl_08 stl_190" style="word-spacing:-0.0384em;">offers a SCF program on voluntary basis. When participating in this program, the supplier has the option to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:37.6575em;"><span class="stl_287 stl_08 stl_209" style="word-spacing:-0.0347em;">receive early payment from the bank based on the invoices approved by Ambu through a factoring arrangement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:38.4075em;"><span class="stl_287 stl_08 stl_15" style="word-spacing:-0.0374em;">between the supplier and the bank, where the outstanding invoices are transferred to the bank without recourse.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:10.4862em;"><span class="stl_287 stl_08 stl_193" style="word-spacing:-0.0343em;">Ambu's liability in relation to the SCF program is the outstanding invoices, which are recognized and presented  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.2362em;"><span class="stl_287 stl_08 stl_202" style="word-spacing:-0.0356em;">as trade payables until paid upon maturity. The trade payables covered by the SCF program arise in the ordinary  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.9862em;"><span class="stl_287 stl_08 stl_157" style="word-spacing:-0.0394em;">course of business from the supply of goods and services and the payment terms of the suppliers that partic-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:12.7362em;"><span class="stl_287 stl_08 stl_142" style="word-spacing:-0.0378em;">ipate in the SCF program are not significantly extended compared to trade payables not part of the SCF pro-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:13.4862em;"><span class="stl_287 stl_08 stl_166" style="word-spacing:-0.0276em;">gram. At the end of 2024/25, trade payables covered by the program amounted to DKK 16m (DKK 48m).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.7518em;"><span class="stl_438 stl_92 stl_74" style="word-spacing:-0.0467em;">Credit facility  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:15.5062em;"><span class="stl_287 stl_08 stl_487" style="word-spacing:-0.0327em;">To cover the Group’s liquidity needs, Ambu has committed credit facilities for a total of DKK 1,000m (DKK  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:16.2562em;"><span class="stl_287 stl_08 stl_208" style="word-spacing:-0.0249em;">1,800m). The facilities carry floating interest rates in the range of 0.53-1.13% (0.58-2.98%), depending on the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:17.0062em;"><span class="stl_287 stl_08 stl_118" style="word-spacing:-0.0347em;">Group’s gearing and ESG performance. At year end, there was no utilization of the facilities. The credit facilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:17.7562em;"><span class="stl_287 stl_08 stl_125" style="word-spacing:-0.0339em;">expire on 30 April 2028 and are subject to standard financial covenants.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:19.0256em;"><span class="stl_287 stl_08 stl_145" style="word-spacing:-0.0371em;">The cash resources, that consist of cash at bank, committed and uncommitted unutilized credit facilities in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:19.7756em;"><span class="stl_287 stl_08 stl_112" style="word-spacing:-0.033em;">banks, amount to DKK 2bn (DKK 2.5bn). Considering committed facilities and cash at bank only, the cash  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.5256em;"><span class="stl_287 stl_08 stl_80" style="word-spacing:-0.0322em;">resource was DKK 1.9bn (DKK 2.4bn). The reduction from last year is a result of reduced committed facilities,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:21.2756em;"><span class="stl_287 stl_08 stl_165" style="word-spacing:-0.0363em;">reflecting Ambu's current funding need.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:22.5456em;"><span class="stl_287 stl_08 stl_162" style="word-spacing:-0.0358em;">Cash-pool solutions are applied, and intercompany loans have been granted by Ambu A/S to relevant subsid-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:23.2956em;"><span class="stl_287 stl_08 stl_152" style="word-spacing:-0.0354em;">iaries. The liquidity risk is mitigated by a consistent focus on budgeted and realized cash flow.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:24.5612em;"><span class="stl_438 stl_92 stl_395" style="word-spacing:-0.0445em;">Credit risk  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:25.3156em;"><span class="stl_287 stl_08 stl_163" style="word-spacing:-0.0386em;">Ambu is mainly exposed to credit risks in respect of trade receivables. The maximum credit risk corresponds  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.0656em;"><span class="stl_287 stl_08 stl_162" style="word-spacing:-0.0358em;">to the carrying amount. For many years, Ambu has not realized any significant losses on receivables. Refer-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.8156em;"><span class="stl_287 stl_08 stl_141" style="word-spacing:-0.0319em;">ence is made to note 3.6.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:28.0806em;"><span class="stl_438 stl_92 stl_245" style="word-spacing:-0.0501em;">Counterparty risk  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:28.835em;"><span class="stl_287 stl_08 stl_82" style="word-spacing:-0.0417em;">Counterparty risk for cash and financial instruments is mitigated by Ambu setting cash limits for each institu-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:29.585em;"><span class="stl_287 stl_08 stl_163" style="word-spacing:-0.0386em;">tion based on their respective credit rating.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:30.8506em;"><span class="stl_438 stl_92 stl_160" style="word-spacing:-0.0419em;">Capital management  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:31.605em;"><span class="stl_287 stl_08 stl_152" style="word-spacing:-0.0354em;">The primary objective of the Group’s capital management is to ensure the funding of growth of the Group,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:32.355em;"><span class="stl_287 stl_08 stl_101" style="word-spacing:-0.0345em;">while maximizing the return to the shareholders through the optimization of the debt and equity balance.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:33.6243em;"><span class="stl_287 stl_08 stl_128" style="word-spacing:-0.0353em;">For the purpose of the Group’s capital management, capital includes share capital and all other equity  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:34.3743em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0425em;">reserves attributable to the equity holders of the parent.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:35.6443em;"><span class="stl_287 stl_08 stl_145" style="word-spacing:-0.0373em;">The Group manages its capital structure and makes adjustments in light of changes in economic conditions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:36.3943em;"><span class="stl_287 stl_08 stl_241" style="word-spacing:-0.0345em;">and the requirements of the financial covenants. To maintain or adjust the capital structure, the Group may  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:37.1443em;"><span class="stl_287 stl_08 stl_162" style="word-spacing:-0.0359em;">adjust the dividend payment to shareholders or issue new shares.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2256em;"><span class="stl_418 stl_11 stl_139" style="word-spacing:-0.035em;">2.5 Financial risks from operating activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5343em;"><span class="stl_438 stl_92 stl_404" style="word-spacing:-0.044em;">Foreign currency risks  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2887em;z-index:155;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0329em;">The majority of Ambu's sales are invoiced in USD, EUR, and GB</span><span class="stl_287 stl_08 stl_896">P</span><span class="stl_287 stl_08 stl_25" style="word-spacing:0em;">. </span><span class="stl_287 stl_08 stl_93">T</span><span class="stl_287 stl_08 stl_294" style="word-spacing:-0.0406em;">he majority of Ambu's production costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0387em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0338em;">and OPEX are in DKK, USD, EUR, MYR, MXN, and CNY. All assets and liabilities in the subsidiaries' balance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.7887em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0359em;">sheets are denominated in foreign currency. As a consequence, fluctuations in these exchange rates against  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.5387em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0363em;">DKK might impact Ambu’s financial position and results. The most important exchange rates in relation to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.2887em;"><span class="stl_287 stl_08 stl_146" style="word-spacing:-0.0319em;">risk exposure are USD, MYR, MXN, CNY, and GBP (collectively referred to as ‘main currencies’). Furthermore,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.0387em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0363em;">EUR is a currency with large exposure, but the risk is deemed limited due to DKK being pegged to EUR.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.5343em;"><span class="stl_438 stl_92 stl_69" style="word-spacing:-0.0465em;">Sensitivity analysis  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.2887em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0338em;">The following table shows the impact on the Group's net profit and other comprehensive income in the event  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.0387em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0361em;">of a 10% fluctuation in the main currencies relative to the recognized financial instruments. The fluctuation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.7887em;"><span class="stl_287 stl_08 stl_169" style="word-spacing:-0.0335em;">of 10% constitutes the management’s assessment of a realistic exchange rate development within the main  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.5387em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0389em;">currencies. The financial instruments comprised by the sensitivity analysis include trade receivables, cash,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.2887em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">payables, trade payables, and intercompany balances. The sensitivity analysis does not take any translation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.0387em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0401em;">effect from functional currency to presentation currency into consideration.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.7702em;top:22.4899em;"><span class="stl_288 stl_11 stl_61" style="word-spacing:-0.0304em;">Decrease of 10%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.3977em;top:22.4899em;"><span class="stl_288 stl_11 stl_23" style="word-spacing:-0.0302em;">Increase of 10%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.2474em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.4908em;top:23.2399em;"><span class="stl_288 stl_11 stl_292" style="word-spacing:-0.0386em;">in main currencies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.9945em;top:23.2399em;"><span class="stl_288 stl_11 stl_292" style="word-spacing:-0.0386em;">in main currencies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.1833em;top:24.4212em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.4427em;top:24.4212em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6839em;top:24.4212em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.9433em;top:24.4212em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:25.9799em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">Income statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.2333em;top:25.9799em;"><span class="stl_287 stl_08 stl_340">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9683em;top:25.9799em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5745em;top:25.9799em;"><span class="stl_287 stl_08 stl_335">-11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.472em;top:25.9799em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:26.9012em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">Other comprehensive income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7158em;top:26.9012em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9677em;top:26.9012em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2195em;top:26.9012em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4714em;top:26.9012em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.1445em;top:27.8149em;"><span class="stl_288 stl_11 stl_669">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9589em;top:27.8149em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4789em;top:27.8149em;"><span class="stl_288 stl_11 stl_897">-11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4627em;top:27.8149em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:30.0003em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.1302em;top:29.9928em;"><span class="stl_288 stl_11 stl_333" style="word-spacing:-0.0471em;">Contract value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2795em;top:29.9928em;"><span class="stl_288 stl_11 stl_79" style="word-spacing:-0.0314em;">Fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.0764em;top:31.174em;"><span class="stl_288 stl_11 stl_283">30.09.25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.4195em;top:31.174em;"><span class="stl_288 stl_11 stl_219">30.09.24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6752em;top:31.174em;"><span class="stl_288 stl_11 stl_283">30.09.25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.5933em;top:31.174em;"><span class="stl_288 stl_11 stl_219">30.09.24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7802em;top:32.7253em;"><span class="stl_288 stl_11 stl_433" style="word-spacing:-0.0449em;">Interest rate swaps:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7802em;top:33.654em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0359em;">Interest rate swap, DKK 250m,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7802em;top:34.404em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">floating to fixed rate, maturity May 2025  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7177em;top:34.404em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.1583em;top:34.404em;"><span class="stl_287 stl_08 stl_62">250  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.3158em;top:34.404em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.0683em;top:34.404em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:35.3178em;"><span class="stl_288 stl_11 stl_155" style="word-spacing:-0.0341em;">Total financial liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7083em;top:35.3178em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0345em;top:35.3178em;"><span class="stl_288 stl_11 stl_137">250  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.3064em;top:35.3178em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.0283em;top:35.3178em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.9877em;top:10.0175em;"><span class="stl_288 stl_11 stl_178">Acquired  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.5683em;top:10.7675em;"><span class="stl_288 stl_11 stl_475">technologies,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.2614em;top:10.7675em;"><span class="stl_288 stl_11 stl_82">Development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.2164em;top:11.5175em;"><span class="stl_288 stl_11 stl_334">trademarks  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.332em;top:11.5175em;"><span class="stl_288 stl_11 stl_409">Completed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.5777em;top:11.5175em;"><span class="stl_288 stl_11 stl_426" style="word-spacing:-0.0476em;">projects and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.982em;top:12.2675em;"><span class="stl_288 stl_11 stl_93" style="word-spacing:-0.052em;">and cust.</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.649em;top:12.2675em;"><span class="stl_288 stl_11 stl_82">development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.0426em;top:12.2675em;"><span class="stl_288 stl_11 stl_147" style="word-spacing:-0.0324em;">Other, incl.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.6589em;top:12.2675em;"><span class="stl_288 stl_11 stl_420" style="word-spacing:-0.0509em;">other assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.025em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0777em;top:13.0175em;"><span class="stl_288 stl_11 stl_525">relations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2383em;top:13.0175em;"><span class="stl_288 stl_11 stl_443">projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.0026em;top:13.0175em;"><span class="stl_288 stl_11 stl_901" style="word-spacing:-0.0577em;">IT software  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.9458em;top:13.0175em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0425em;">in progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.6977em;top:13.0175em;"><span class="stl_288 stl_11 stl_579">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:14.545em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:15.4269em;"><span class="stl_287 stl_08 stl_536" style="word-spacing:-0.0456em;">Cost at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7689em;top:15.4269em;"><span class="stl_287 stl_08 stl_108">923  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2739em;top:15.4269em;"><span class="stl_287 stl_08 stl_338">1,762  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.467em;top:15.4269em;"><span class="stl_287 stl_08 stl_199">282  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.4108em;top:15.4269em;"><span class="stl_287 stl_08 stl_112">350  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.652em;top:15.4269em;"><span class="stl_287 stl_08 stl_811">3,317  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:16.3012em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.3308em;top:16.3012em;"><span class="stl_287 stl_08 stl_356">-7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6389em;top:16.3012em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.3633em;top:16.3012em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:16.3012em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.7008em;top:16.3012em;"><span class="stl_287 stl_08 stl_356">-7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:17.1756em;"><span class="stl_287 stl_08 stl_45" style="word-spacing:-0.033em;">Additions during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6783em;top:17.1756em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6389em;top:17.1756em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.3633em;top:17.1756em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.457em;top:17.1756em;"><span class="stl_287 stl_08 stl_726">267  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.1814em;top:17.1756em;"><span class="stl_287 stl_08 stl_726">267  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:18.05em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">Disposals during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6783em;top:18.05em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6389em;top:18.05em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.5926em;top:18.05em;"><span class="stl_287 stl_08 stl_460">-60  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:18.05em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.2777em;top:18.05em;"><span class="stl_287 stl_08 stl_460">-60  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:18.9244em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.0301em;">Transferred during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6783em;top:18.9244em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.7345em;top:18.9244em;"><span class="stl_287 stl_08 stl_55">246  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.8339em;top:18.9244em;"><span class="stl_287 stl_08 stl_320">52  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.2264em;top:18.9244em;"><span class="stl_287 stl_08 stl_546">-298  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0483em;top:18.9244em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:19.7912em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0426em;">Cost at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.6876em;top:19.7912em;"><span class="stl_288 stl_11 stl_56">916  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9733em;top:19.7912em;"><span class="stl_288 stl_11 stl_475">2,008  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.3808em;top:19.7912em;"><span class="stl_288 stl_11 stl_902">274  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3426em;top:19.7912em;"><span class="stl_288 stl_11 stl_356">319  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.4658em;top:19.7912em;"><span class="stl_288 stl_11 stl_477">3,517  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:21.1375em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.04em;">Amortization and impairment losses at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.5689em;top:21.1375em;"><span class="stl_287 stl_08 stl_204">-547  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.5083em;top:21.1375em;"><span class="stl_287 stl_08 stl_297">-857  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.3033em;top:21.1375em;"><span class="stl_287 stl_08 stl_903">-210  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:21.1375em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.5452em;top:21.1375em;"><span class="stl_287 stl_08 stl_905">-1,614  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:22.0119em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.5095em;top:22.0119em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6389em;top:22.0119em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.1945em;top:22.0119em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:22.0119em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.8795em;top:22.0119em;"><span class="stl_287 stl_08 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:22.8862em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">Disposals during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6783em;top:22.8862em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6389em;top:22.8862em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.8189em;top:22.8862em;"><span class="stl_287 stl_08 stl_155">60  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:22.8862em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5039em;top:22.8862em;"><span class="stl_287 stl_08 stl_155">60  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:23.7606em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">Amortization for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.942em;top:23.7606em;"><span class="stl_287 stl_08 stl_210">-37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.6083em;top:23.7606em;"><span class="stl_287 stl_08 stl_906">-157  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.637em;top:23.7606em;"><span class="stl_287 stl_08 stl_253">-25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:23.7606em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.0001em;top:23.7606em;"><span class="stl_287 stl_08 stl_841">-219  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.6275em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0417em;">Amortization and impairment losses at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.4514em;top:24.6275em;"><span class="stl_288 stl_11 stl_189">-577  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.8976em;top:24.6275em;"><span class="stl_288 stl_11 stl_907">-1,014  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.242em;top:24.6275em;"><span class="stl_288 stl_11 stl_904">-174  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3145em;top:24.6275em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.3051em;top:24.6275em;"><span class="stl_288 stl_11 stl_841">-1,765  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.5018em;"><span class="stl_288 stl_11 stl_97" style="word-spacing:-0.0422em;">Carrying amount at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.6501em;top:25.5018em;"><span class="stl_288 stl_11 stl_126">339  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.6133em;top:25.5018em;"><span class="stl_288 stl_11 stl_579">994  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.3458em;top:25.5018em;"><span class="stl_288 stl_11 stl_25">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.342em;top:25.5018em;"><span class="stl_288 stl_11 stl_356">319  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.477em;top:25.5018em;"><span class="stl_288 stl_11 stl_435">1,752  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.25em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.1318em;"><span class="stl_287 stl_08 stl_536" style="word-spacing:-0.0456em;">Cost at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7664em;top:28.1318em;"><span class="stl_287 stl_08 stl_135">929  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2276em;top:28.1318em;"><span class="stl_287 stl_08 stl_331">1,492  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.4676em;top:28.1318em;"><span class="stl_287 stl_08 stl_253">257  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3783em;top:28.1318em;"><span class="stl_287 stl_08 stl_827">444  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.6864em;top:28.1318em;"><span class="stl_287 stl_08 stl_776">3,122  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:29.0062em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.282em;top:29.0062em;"><span class="stl_287 stl_08 stl_353">-6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.4689em;top:29.0062em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.362em;top:29.0062em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.9914em;top:29.0062em;"><span class="stl_287 stl_08 stl_791">-1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.652em;top:29.0062em;"><span class="stl_287 stl_08 stl_353">-6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:29.8806em;"><span class="stl_287 stl_08 stl_45" style="word-spacing:-0.033em;">Additions during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.677em;top:29.8806em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6376em;top:29.8806em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.362em;top:29.8806em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.4314em;top:29.8806em;"><span class="stl_287 stl_08 stl_274">201  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.1558em;top:29.8806em;"><span class="stl_287 stl_08 stl_274">201  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:30.755em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.0301em;">Transferred during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6764em;top:30.755em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.7558em;top:30.755em;"><span class="stl_287 stl_08 stl_261">269  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.8264em;top:30.755em;"><span class="stl_287 stl_08 stl_189">25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.2364em;top:30.755em;"><span class="stl_287 stl_08 stl_331">-294  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0464em;top:30.755em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:31.6218em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0426em;">Cost at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.6445em;top:31.6218em;"><span class="stl_288 stl_11 stl_112">923  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0758em;top:31.6218em;"><span class="stl_288 stl_11 stl_368">1,762  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.3339em;top:31.6218em;"><span class="stl_288 stl_11 stl_108">282  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.2883em;top:31.6218em;"><span class="stl_288 stl_11 stl_76">350  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.4514em;top:31.6218em;"><span class="stl_288 stl_11 stl_307">3,317  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:32.9681em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.04em;">Amortization and impairment losses at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.5795em;top:32.9681em;"><span class="stl_287 stl_08 stl_593">-286  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4833em;top:32.9681em;"><span class="stl_287 stl_08 stl_674">-604  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.3133em;top:32.9681em;"><span class="stl_287 stl_08 stl_869">-186  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3214em;top:32.9681em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.5176em;top:32.9681em;"><span class="stl_287 stl_08 stl_908">-1,076  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:33.8425em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.5064em;top:33.8425em;"><span class="stl_287 stl_08 stl_25">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6358em;top:33.8425em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.0001em;top:33.8425em;"><span class="stl_287 stl_08 stl_77">-2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3208em;top:33.8425em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.8764em;top:33.8425em;"><span class="stl_287 stl_08 stl_25">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:34.7168em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">Impairment losses for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.5733em;top:34.7168em;"><span class="stl_287 stl_08 stl_102">-206  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.617em;top:34.7168em;"><span class="stl_287 stl_08 stl_326">-121  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.3601em;top:34.7168em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3208em;top:34.7168em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.9426em;top:34.7168em;"><span class="stl_287 stl_08 stl_15">-327  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:35.5912em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">Amortization for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9558em;top:35.5912em;"><span class="stl_287 stl_08 stl_353">-</span><span class="stl_287 stl_08 stl_388">6</span><span class="stl_287 stl_08 stl_388">1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.607em;top:35.5912em;"><span class="stl_287 stl_08 stl_909">-132  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.6308em;top:35.5912em;"><span class="stl_287 stl_08 stl_378">-22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3208em;top:35.5912em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.9908em;top:35.5912em;"><span class="stl_287 stl_08 stl_569">-215  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:36.4581em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0417em;">Amortization and impairment losses at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.437em;top:36.4581em;"><span class="stl_288 stl_11 stl_103">-547  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.3951em;top:36.4581em;"><span class="stl_288 stl_11 stl_117">-857  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1601em;top:36.4581em;"><span class="stl_288 stl_11 stl_370">-210  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.312em;top:36.4581em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.3308em;top:36.4581em;"><span class="stl_288 stl_11 stl_813">-1,614  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:37.3325em;"><span class="stl_288 stl_11 stl_97" style="word-spacing:-0.0422em;">Carrying amount at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.6933em;top:37.3325em;"><span class="stl_288 stl_11 stl_356">376  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.6001em;top:37.3325em;"><span class="stl_288 stl_11 stl_148">905  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.7501em;top:37.3325em;"><span class="stl_288 stl_11 stl_348">72  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.2876em;top:37.3325em;"><span class="stl_288 stl_11 stl_76">350  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.4526em;top:37.3325em;"><span class="stl_288 stl_11 stl_499">1,703  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2256em;"><span class="stl_418 stl_11 stl_75" style="word-spacing:-0.0294em;">3.2 Other intangible assets (continued)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.3802em;top:10.4899em;"><span class="stl_288 stl_11 stl_161">Cholangio  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.792em;top:10.4899em;"><span class="stl_288 stl_11 stl_361">Colon  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.7558em;top:10.4899em;"><span class="stl_288 stl_11 stl_403">Duodeno  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.5464em;top:10.4899em;"><span class="stl_288 stl_11 stl_643">Gastro  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:12.0412em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:12.9699em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0415em;">Carrying amount, tested technology  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.4252em;top:12.9699em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.8902em;top:12.9699em;"><span class="stl_287 stl_08 stl_595">84  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.587em;top:12.9699em;"><span class="stl_287 stl_08 stl_338">247  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5808em;top:12.9699em;"><span class="stl_287 stl_08 stl_386">207  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:13.8912em;"><span class="stl_287 stl_08 stl_202" style="word-spacing:-0.0156em;">Impairment loss (-) / headroom (+)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.4252em;top:13.8912em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.272em;top:13.8912em;"><span class="stl_287 stl_08 stl_25">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9427em;top:13.8912em;"><span class="stl_287 stl_08 stl_337">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9683em;top:13.8912em;"><span class="stl_287 stl_08 stl_792">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:14.8124em;"><span class="stl_287 stl_08 stl_285" style="word-spacing:-0.0388em;">Carrying amount at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.4245em;top:14.8124em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.8895em;top:14.8124em;"><span class="stl_287 stl_08 stl_595">84  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5864em;top:14.8124em;"><span class="stl_287 stl_08 stl_338">247  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5808em;top:14.8124em;"><span class="stl_287 stl_08 stl_386">207  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:16.2456em;"><span class="stl_871 stl_651 stl_361" style="word-spacing:-0.0369em;">Carrying amount is classified as:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:17.1668em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0373em;">Acquired technologies, trademarks and cust. relations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.4252em;top:17.1668em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.8945em;top:17.1668em;"><span class="stl_287 stl_08 stl_47">66  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5708em;top:17.1668em;"><span class="stl_287 stl_08 stl_59">146  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9233em;top:17.1668em;"><span class="stl_287 stl_08 stl_432">85  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:18.0881em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">Completed development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.4245em;top:18.0881em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9314em;top:18.0881em;"><span class="stl_287 stl_08 stl_364">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5864em;top:18.0881em;"><span class="stl_287 stl_08 stl_323">101  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6745em;top:18.0881em;"><span class="stl_287 stl_08 stl_340">111  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:19.0093em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0397em;">Development projects and other assets in progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.4245em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.4402em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4558em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9883em;top:19.0093em;"><span class="stl_287 stl_08 stl_340">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:20.4349em;"><span class="stl_288 stl_11 stl_510" style="word-spacing:-0.0392em;">Budget period  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:21.3637em;"><span class="stl_287 stl_08 stl_157" style="word-spacing:-0.0195em;">Revenue (CAGR)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.3877em;top:21.3637em;"><span class="stl_287 stl_08 stl_354">19%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4358em;top:21.3637em;"><span class="stl_287 stl_08 stl_875">76%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.3814em;top:21.3637em;"><span class="stl_287 stl_08 stl_155">30%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:22.2849em;"><span class="stl_287 stl_08 stl_394" style="word-spacing:-0.0418em;">Royalty rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.3589em;top:22.2849em;"><span class="stl_287 stl_08 stl_117">20%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3895em;top:22.2849em;"><span class="stl_287 stl_08 stl_199">25%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.3902em;top:22.2849em;"><span class="stl_287 stl_08 stl_117">20%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:23.2062em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0383em;">Pre-tax discount rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.8527em;top:23.2062em;"><span class="stl_287 stl_08 stl_212">14.5%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.947em;top:23.2062em;"><span class="stl_287 stl_08 stl_813">11.9%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.9614em;top:23.2062em;"><span class="stl_287 stl_08 stl_813">11.9%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:24.6318em;"><span class="stl_288 stl_11 stl_285" style="word-spacing:-0.0388em;">Sensitivity analysis – impact on headroom</span><sup style="top: -0.2075em;"><span class="stl_295 stl_11 stl_842" style="word-spacing:-0.0665em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.5613em;"><span class="stl_287 stl_08 stl_157" style="word-spacing:-0.0195em;">Revenue (CAGR)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.0464em;top:25.5613em;"><span class="stl_287 stl_08 stl_353">-6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7901em;top:25.5613em;"><span class="stl_287 stl_08 stl_795">-13  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.802em;top:25.5613em;"><span class="stl_287 stl_08 stl_346">-15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.4825em;"><span class="stl_287 stl_08 stl_540" style="word-spacing:-0.0416em;">Royalty rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7126em;top:26.4825em;"><span class="stl_287 stl_08 stl_57">-29  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7433em;top:26.4825em;"><span class="stl_287 stl_08 stl_354">-51  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.772em;top:26.4825em;"><span class="stl_287 stl_08 stl_323">-75  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:27.4038em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0383em;">Pre-tax discount rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.047em;top:27.4038em;"><span class="stl_287 stl_08 stl_353">-6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7945em;top:27.4038em;"><span class="stl_287 stl_08 stl_359">-12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8076em;top:27.4038em;"><span class="stl_287 stl_08 stl_50">-14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.68em;"><span class="stl_911 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.1998em;top:28.6415em;"><span class="stl_235 stl_08 stl_617" style="word-spacing:-0.0521em;">Sensitivity for revenue and royalty rate is based on a 5 percentage points decrease, and pre-tax discount rate is based on a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.1998em;top:29.3915em;"><span class="stl_235 stl_08 stl_641" style="word-spacing:-0.0507em;">1 percentage point increase  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.0494em;top:10.4899em;"><span class="stl_288 stl_11 stl_161">Cholangio  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.4613em;top:10.4899em;"><span class="stl_288 stl_11 stl_361">Colon  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4251em;top:10.4899em;"><span class="stl_288 stl_11 stl_403">Duodeno  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2157em;top:10.4899em;"><span class="stl_288 stl_11 stl_643">Gastro  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:12.0412em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:12.9699em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0415em;">Carrying amount, tested technology  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.5663em;top:12.9699em;"><span class="stl_287 stl_08 stl_122">26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.1963em;top:12.9699em;"><span class="stl_287 stl_08 stl_112">254  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.2857em;top:12.9699em;"><span class="stl_287 stl_08 stl_352">416  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2432em;top:12.9699em;"><span class="stl_287 stl_08 stl_378">227  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:13.8912em;"><span class="stl_287 stl_08 stl_202" style="word-spacing:-0.0156em;">Impairment loss (-) / headroom (+)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.3744em;top:13.8912em;"><span class="stl_287 stl_08 stl_307">-26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.0763em;top:13.8912em;"><span class="stl_287 stl_08 stl_315">-162  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0926em;top:13.8912em;"><span class="stl_287 stl_08 stl_906">-139  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6326em;top:13.8912em;"><span class="stl_287 stl_08 stl_251">67  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4469em;top:14.8124em;"><span class="stl_287 stl_08 stl_285" style="word-spacing:-0.0388em;">Carrying amount at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.0932em;top:14.8124em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.5663em;top:14.8124em;"><span class="stl_287 stl_08 stl_78">92  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.2301em;top:14.8124em;"><span class="stl_287 stl_08 stl_227">277  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2419em;top:14.8124em;"><span class="stl_287 stl_08 stl_378">227  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4469em;top:16.2456em;"><span class="stl_871 stl_651 stl_361" style="word-spacing:-0.0369em;">Carrying amount is classified as:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4469em;top:17.1668em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0373em;">Acquired technologies, trademarks and cust. relations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.0932em;top:17.1668em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.5932em;top:17.1668em;"><span class="stl_287 stl_08 stl_485">71  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.2963em;top:17.1668em;"><span class="stl_287 stl_08 stl_790">161  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5976em;top:17.1668em;"><span class="stl_287 stl_08 stl_78">92  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4463em;top:18.0881em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">Completed development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.0926em;top:18.0881em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.5844em;top:18.0881em;"><span class="stl_287 stl_08 stl_63">21  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3063em;top:18.0881em;"><span class="stl_287 stl_08 stl_388">116  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2788em;top:18.0881em;"><span class="stl_287 stl_08 stl_376">128  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4463em;top:19.0093em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0397em;">Development projects and other assets in progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.0926em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.1082em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:67.1238em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9707em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4457em;top:20.4349em;"><span class="stl_288 stl_11 stl_510" style="word-spacing:-0.0392em;">Budget period  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4457em;top:21.3637em;"><span class="stl_287 stl_08 stl_157" style="word-spacing:-0.0195em;">Revenue (CAGR)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.0557em;top:21.3637em;"><span class="stl_287 stl_08 stl_354">19%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.1288em;top:21.3637em;"><span class="stl_287 stl_08 stl_730">61%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0732em;top:21.3637em;"><span class="stl_287 stl_08 stl_217">27%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4457em;top:22.2849em;"><span class="stl_287 stl_08 stl_394" style="word-spacing:-0.0418em;">Royalty rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.0269em;top:22.2849em;"><span class="stl_287 stl_08 stl_117">20%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0576em;top:22.2849em;"><span class="stl_287 stl_08 stl_199">25%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0582em;top:22.2849em;"><span class="stl_287 stl_08 stl_117">20%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4451em;top:23.2062em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0383em;">Pre-tax discount rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.6101em;top:23.2062em;"><span class="stl_287 stl_08 stl_580">14.1%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.5901em;top:23.2062em;"><span class="stl_287 stl_08 stl_874">11.5%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6044em;top:23.2062em;"><span class="stl_287 stl_08 stl_874">11.5%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4444em;top:24.6318em;"><span class="stl_288 stl_11 stl_285" style="word-spacing:-0.0387em;">Sensitivity analysis – impact on headroom</span><sup style="top: -0.2075em;"><span class="stl_295 stl_11 stl_910" style="word-spacing:-0.0664em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:25.5613em;"><span class="stl_287 stl_08 stl_119">Revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.7269em;top:25.5613em;"><span class="stl_287 stl_08 stl_300">-5  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.4601em;top:25.5613em;"><span class="stl_287 stl_08 stl_50">-14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.4763em;top:25.5613em;"><span class="stl_287 stl_08 stl_912">-16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.4825em;"><span class="stl_287 stl_08 stl_394" style="word-spacing:-0.0418em;">Royalty rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.3919em;top:26.4825em;"><span class="stl_287 stl_08 stl_307">-26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3713em;top:26.4825em;"><span class="stl_287 stl_08 stl_47">-56  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.3713em;top:26.4825em;"><span class="stl_287 stl_08 stl_434">-80  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.4038em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0383em;">Pre-tax discount rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.7632em;top:27.4038em;"><span class="stl_287 stl_08 stl_356">-7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.4557em;top:27.4038em;"><span class="stl_287 stl_08 stl_346">-15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.4763em;top:27.4038em;"><span class="stl_287 stl_08 stl_912">-16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.68em;"><span class="stl_911 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.869em;top:28.6415em;"><span class="stl_235 stl_08 stl_617" style="word-spacing:-0.0521em;">Sensitivity for revenue and royalty rate is based on a 5 percentage points decrease, and pre-tax discount rate is based on a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.869em;top:29.3915em;"><span class="stl_235 stl_08 stl_420" style="word-spacing:-0.0507em;">1 percentage point increase  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.002em;top:10.4899em;"><span class="stl_288 stl_11 stl_404" style="word-spacing:1.127em;">Other Property,</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.877em;top:10.4899em;"><span class="stl_288 stl_11 stl_161">plant  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.5127em;top:11.2399em;"><span class="stl_288 stl_11 stl_528" style="word-spacing:-0.0444em;">Land and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.1289em;top:11.2399em;"><span class="stl_288 stl_11 stl_100" style="word-spacing:-0.0343em;">Plant and</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.934em;top:11.2399em;"><span class="stl_288 stl_11 stl_271" style="word-spacing:-0.0372em;">and equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.019em;top:11.2399em;"><span class="stl_288 stl_11 stl_631" style="word-spacing:-0.0531em;">fixtures and</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.9974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.402em;top:11.9899em;"><span class="stl_288 stl_11 stl_74">buildings  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.7695em;top:11.9899em;"><span class="stl_288 stl_11 stl_522">machinery  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.3877em;top:11.9899em;"><span class="stl_288 stl_11 stl_361">equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.9452em;top:11.9899em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0425em;">in progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.697em;top:11.9899em;"><span class="stl_288 stl_11 stl_579">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.5174em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.3756em;"><span class="stl_287 stl_08 stl_536" style="word-spacing:-0.0456em;">Cost at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.3058em;top:14.3756em;"><span class="stl_287 stl_08 stl_657">291  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0102em;top:14.3756em;"><span class="stl_287 stl_08 stl_45">583  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.7458em;top:14.3756em;"><span class="stl_287 stl_08 stl_208">265  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7877em;top:14.3756em;"><span class="stl_287 stl_08 stl_55">82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.6339em;top:14.3756em;"><span class="stl_287 stl_08 stl_393">1,221  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.2262em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.5483em;top:15.2262em;"><span class="stl_287 stl_08 stl_857">-17  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.1745em;top:15.2262em;"><span class="stl_287 stl_08 stl_47">-35  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.2589em;top:15.2262em;"><span class="stl_287 stl_08 stl_353">-6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.942em;top:15.2262em;"><span class="stl_287 stl_08 stl_93">-3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.3283em;top:15.2262em;"><span class="stl_287 stl_08 stl_353">-</span><span class="stl_287 stl_08 stl_388">6</span><span class="stl_287 stl_08 stl_388">1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.0768em;"><span class="stl_287 stl_08 stl_45" style="word-spacing:-0.033em;">Additions during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.2052em;top:16.0768em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.9295em;top:16.0768em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.6539em;top:16.0768em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.5145em;top:16.0768em;"><span class="stl_287 stl_08 stl_854">117  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.2389em;top:16.0768em;"><span class="stl_287 stl_08 stl_854">117  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.9274em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">Disposals during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.8739em;top:16.9274em;"><span class="stl_287 stl_08 stl_791">-1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2002em;top:16.9274em;"><span class="stl_287 stl_08 stl_378">-22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.9877em;top:16.9274em;"><span class="stl_287 stl_08 stl_50">-14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3233em;top:16.9274em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.3114em;top:16.9274em;"><span class="stl_287 stl_08 stl_210">-37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.7781em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.0301em;">Transferred during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.0364em;top:17.7781em;"><span class="stl_287 stl_08 stl_25">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.3933em;top:17.7781em;"><span class="stl_287 stl_08 stl_55">82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1595em;top:17.7781em;"><span class="stl_287 stl_08 stl_369">17  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.2664em;top:17.7781em;"><span class="stl_287 stl_08 stl_371">-108  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0477em;top:17.7781em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.6212em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0426em;">Cost at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.1783em;top:18.6212em;"><span class="stl_288 stl_11 stl_108">282  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.8933em;top:18.6212em;"><span class="stl_288 stl_11 stl_267">608  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6352em;top:18.6212em;"><span class="stl_288 stl_11 stl_189">262  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7039em;top:18.6212em;"><span class="stl_288 stl_11 stl_33">88  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.4114em;top:18.6212em;"><span class="stl_288 stl_11 stl_103">1,240  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.9199em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.0371em;">Depreciation and impairment losses at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.2245em;top:19.9199em;"><span class="stl_287 stl_08 stl_843">-114  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.8158em;top:19.9199em;"><span class="stl_287 stl_08 stl_157">-387  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6139em;top:19.9199em;"><span class="stl_287 stl_08 stl_913">-138  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:19.9199em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.9077em;top:19.9199em;"><span class="stl_287 stl_08 stl_432">-639  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7802em;top:20.7705em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.037em;top:20.7705em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.3945em;top:20.7705em;"><span class="stl_287 stl_08 stl_328">23  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.4858em;top:20.7705em;"><span class="stl_287 stl_08 stl_25">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:20.7705em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5027em;top:20.7705em;"><span class="stl_287 stl_08 stl_297">34  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.6212em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">Disposals during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.2052em;top:21.6212em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.3945em;top:21.6212em;"><span class="stl_287 stl_08 stl_189">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1458em;top:21.6212em;"><span class="stl_287 stl_08 stl_326">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3233em;top:21.6212em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5045em;top:21.6212em;"><span class="stl_287 stl_08 stl_148">35  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:22.4718em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">Impairment losses for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.2045em;top:22.4718em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.9289em;top:22.4718em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.6533em;top:22.4718em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3227em;top:22.4718em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.047em;top:22.4718em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:23.3224em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0336em;">Depreciation for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.8139em;top:23.3224em;"><span class="stl_287 stl_08 stl_303">-8  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.1839em;top:23.3224em;"><span class="stl_287 stl_08 stl_33">-47  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.9339em;top:23.3224em;"><span class="stl_287 stl_08 stl_77">-27  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3227em;top:23.3224em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.2889em;top:23.3224em;"><span class="stl_287 stl_08 stl_433">-82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:24.1655em;"><span class="stl_288 stl_11 stl_510" style="word-spacing:-0.0391em;">Depreciation and impairment losses at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0827em;top:24.1655em;"><span class="stl_288 stl_11 stl_791">-115  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6852em;top:24.1655em;"><span class="stl_288 stl_11 stl_487">-391  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4764em;top:24.1655em;"><span class="stl_288 stl_11 stl_812">-146  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3133em;top:24.1655em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.7827em;top:24.1655em;"><span class="stl_288 stl_11 stl_404">-652  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:25.0162em;"><span class="stl_288 stl_11 stl_471" style="word-spacing:-0.0432em;">Carrying amount at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.2377em;top:25.0162em;"><span class="stl_288 stl_11 stl_825">167  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9552em;top:25.0162em;"><span class="stl_288 stl_11 stl_41">217  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.7039em;top:25.0162em;"><span class="stl_288 stl_11 stl_914">116  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7027em;top:25.0162em;"><span class="stl_288 stl_11 stl_33">88  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.0183em;top:25.0162em;"><span class="stl_288 stl_11 stl_137">588  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:26.7406em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:27.5987em;"><span class="stl_287 stl_08 stl_536" style="word-spacing:-0.0456em;">Cost at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.3164em;top:27.5987em;"><span class="stl_287 stl_08 stl_307">287  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0295em;top:27.5987em;"><span class="stl_287 stl_08 stl_657">537  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.7445em;top:27.5987em;"><span class="stl_287 stl_08 stl_126">285  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7945em;top:27.5987em;"><span class="stl_287 stl_08 stl_77">79  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.7008em;top:27.5987em;"><span class="stl_287 stl_08 stl_327">1,188  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:28.4493em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.0358em;top:28.4493em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.7602em;top:28.4493em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.9864em;top:28.4493em;"><span class="stl_287 stl_08 stl_795">-13  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.9914em;top:28.4493em;"><span class="stl_287 stl_08 stl_791">-1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.6495em;top:28.4493em;"><span class="stl_287 stl_08 stl_781">-4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:29.2999em;"><span class="stl_287 stl_08 stl_45" style="word-spacing:-0.033em;">Additions during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.2045em;top:29.2999em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.7602em;top:29.2999em;"><span class="stl_287 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.6533em;top:29.2999em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7777em;top:29.2999em;"><span class="stl_287 stl_08 stl_161">86  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.4989em;top:29.2999em;"><span class="stl_287 stl_08 stl_404">88  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:30.1506em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">Disposals during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.8439em;top:30.1506em;"><span class="stl_287 stl_08 stl_77">-2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.1995em;top:30.1506em;"><span class="stl_287 stl_08 stl_57">-29  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.927em;top:30.1506em;"><span class="stl_287 stl_08 stl_227">-20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3227em;top:30.1506em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.3327em;top:30.1506em;"><span class="stl_287 stl_08 stl_354">-51  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:31.0012em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.0301em;">Transferred during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.0352em;top:31.0012em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.3839em;top:31.0012em;"><span class="stl_287 stl_08 stl_155">68  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1483em;top:31.0012em;"><span class="stl_287 stl_08 stl_352">13  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.5645em;top:31.0012em;"><span class="stl_287 stl_08 stl_433">-82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.047em;top:31.0012em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:31.8443em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0426em;">Cost at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.1852em;top:31.8443em;"><span class="stl_288 stl_11 stl_189">291  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.8958em;top:31.8443em;"><span class="stl_288 stl_11 stl_76">583  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.622em;top:31.8443em;"><span class="stl_288 stl_11 stl_112">265  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7052em;top:31.8443em;"><span class="stl_288 stl_11 stl_108">82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.4327em;top:31.8443em;"><span class="stl_288 stl_11 stl_378">1,221  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:33.1431em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.0371em;">Depreciation and impairment losses at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.227em;top:33.1431em;"><span class="stl_287 stl_08 stl_915">-112  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.802em;top:33.1431em;"><span class="stl_287 stl_08 stl_155">-360  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6245em;top:33.1431em;"><span class="stl_287 stl_08 stl_909">-132  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3227em;top:33.1431em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.8939em;top:33.1431em;"><span class="stl_287 stl_08 stl_674">-604  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:33.9937em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.2045em;top:33.9937em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.5689em;top:33.9937em;"><span class="stl_287 stl_08 stl_77">-2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.4845em;top:33.9937em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3227em;top:33.9937em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.8783em;top:33.9937em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:34.8443em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">Disposals during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.0358em;top:34.8443em;"><span class="stl_287 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.3933em;top:34.8443em;"><span class="stl_287 stl_08 stl_328">23  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1445em;top:34.8443em;"><span class="stl_287 stl_08 stl_364">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3227em;top:34.8443em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.4914em;top:34.8443em;"><span class="stl_287 stl_08 stl_523">43  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:35.6949em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">Impairment losses for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.2045em;top:35.6949em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.5452em;top:35.6949em;"><span class="stl_287 stl_08 stl_300">-5  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.322em;top:35.6949em;"><span class="stl_287 stl_08 stl_791">-1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3227em;top:35.6949em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.652em;top:35.6949em;"><span class="stl_287 stl_08 stl_353">-6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:36.5456em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0336em;">Depreciation for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.807em;top:36.5456em;"><span class="stl_287 stl_08 stl_781">-4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.1445em;top:36.5456em;"><span class="stl_287 stl_08 stl_787">-43  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.9333em;top:36.5456em;"><span class="stl_287 stl_08 stl_77">-28  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3227em;top:36.5456em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.3458em;top:36.5456em;"><span class="stl_287 stl_08 stl_323">-75  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:37.3887em;"><span class="stl_288 stl_11 stl_510" style="word-spacing:-0.0391em;">Depreciation and impairment losses at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0845em;top:37.3887em;"><span class="stl_288 stl_11 stl_577">-114  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6852em;top:37.3887em;"><span class="stl_288 stl_11 stl_349">-387  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4814em;top:37.3887em;"><span class="stl_288 stl_11 stl_332">-138  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3145em;top:37.3887em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.7814em;top:37.3887em;"><span class="stl_288 stl_11 stl_334">-639  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:38.2393em;"><span class="stl_288 stl_11 stl_471" style="word-spacing:-0.0432em;">Carrying amount at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.2302em;top:38.2393em;"><span class="stl_288 stl_11 stl_813">177  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9427em;top:38.2393em;"><span class="stl_288 stl_11 stl_230">196  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.667em;top:38.2393em;"><span class="stl_288 stl_11 stl_230">127  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7052em;top:38.2393em;"><span class="stl_288 stl_11 stl_108">82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.0208em;top:38.2393em;"><span class="stl_288 stl_11 stl_208">582  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4491em;top:9.2258em;"><span class="stl_418 stl_11 stl_101" style="word-spacing:-0.0245em;">2.7 Income taxes  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.5179em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">Ambu strives to meet the standard of being a good corporate citizen in all countries in which we operate.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:11.9972em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.0381em;">Ambu develops, manufactures, and sells solutions to hospitals and rescue services all over the world through  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.7266em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">its own companies or in collaboration with third parties. This naturally leads to cross-border transactions.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:13.456em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0332em;">In order to counter the inherent tax risk associated with being a multinational company, Ambu follows the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.1854em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0339em;">OECD’s transfer pricing principles and general guidelines. Even though Ambu operates in OECD member  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.9147em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">countries, a tax risk still exists given the fact that applicable principles and guidelines are, to some extent,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.6441em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">subject to interpretation by the member countries, and that applicable case law is not always clear and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:16.3735em;"><span class="stl_287 stl_08 stl_267" style="word-spacing:-0.0311em;">changes over time.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:17.8529em;"><span class="stl_287 stl_08 stl_47" style="word-spacing:-0.04em;">Ambu utilizes a straightforward transfer pricing system that adheres to the principal structure. In this  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:18.5822em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0375em;">arrangement, the parent company earns residual profits, due to its ownership of intangible assets, and pays  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:19.3116em;"><span class="stl_287 stl_08 stl_510" style="word-spacing:-0.0393em;">corporate income tax in the countries where it conducts business.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:20.8073em;"><span class="stl_438 stl_92 stl_110" style="word-spacing:-0.0242em;">Tax governance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:21.541em;"><span class="stl_287 stl_08 stl_146" style="word-spacing:-0.0321em;">Our work with income taxes is governed by the Tax Policy, approved by the Board of Directors. Ambu’s policy  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:22.2704em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">is to have a low tax risk appetite and to refrain from having business in tax havens or low tax jurisdictions for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:22.9998em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0375em;">the purpose of conducting tax optimization. Ambu does not have activities in tax havens, as defined accord-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.7291em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0395em;">ing to the EU list of non-cooperative jurisdictions for tax purposes.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:25.2085em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0414em;">In some jurisdictions where we operate, tax incentives are offered to all market participants. Our tax approach  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:25.9379em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">does not prevent us from making use of such incentives, insofar as our activities are business driven and not  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.6673em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0347em;">motivated by tax considerations. Tax incentives utilized by Ambu mainly relate to R&amp;D activities. Most of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.3966em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0345em;">current tax incentives relate to R&amp;D credit relief/uplift in Denmark, entailing a R&amp;D uplift and additionally a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.126em;"><span class="stl_287 stl_08 stl_75" style="word-spacing:-0.0294em;">116% depreciation of new equipment rolled forward. In the U.S., the tax incentives received relate to R&amp;D tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.8554em;"><span class="stl_287 stl_08 stl_475">credit.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:30.351em;"><span class="stl_438 stl_92 stl_48" style="word-spacing:-0.027em;">Tax risks  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:31.0848em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">To counter any future tax disputes and disagreements with the tax authorities, the Management makes esti-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:31.8141em;"><span class="stl_287 stl_08 stl_169" style="word-spacing:-0.0334em;">mates and assessments of the Group's tax exposure and, on the basis thereof, makes a provision for uncer-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:32.5435em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.0369em;">tain tax positions. Even though the Management considers this provision to be sufficient, future liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:33.2729em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0332em;">may deviate from this.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5156em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6877em;top:10.5081em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.947em;top:10.5081em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0356em;"><span class="stl_288 stl_11 stl_37" style="word-spacing:-0.0312em;">Tax for the year comprises  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.9175em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">Current tax on profit for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.402em;top:12.9175em;"><span class="stl_287 stl_08 stl_802">113  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5895em;top:12.9175em;"><span class="stl_287 stl_08 stl_324">140  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.7919em;"><span class="stl_287 stl_08 stl_285" style="word-spacing:-0.0388em;">Deferred tax on profit for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6858em;top:13.7919em;"><span class="stl_287 stl_08 stl_328">62  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7789em;top:13.7919em;"><span class="stl_287 stl_08 stl_382">-71  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.6662em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0372em;">Adjustment, previous years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.492em;top:14.6662em;"><span class="stl_287 stl_08 stl_57">-29  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.0752em;top:14.6662em;"><span class="stl_287 stl_08 stl_781">-4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.5331em;"><span class="stl_288 stl_11 stl_151" style="word-spacing:-0.0341em;">Tax on profit for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2145em;top:15.5331em;"><span class="stl_288 stl_11 stl_77">146  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8477em;top:15.5331em;"><span class="stl_288 stl_11 stl_31">65  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7802em;top:16.9031em;"><span class="stl_287 stl_08 stl_76" style="word-spacing:-0.0359em;">Current tax on other comprehensive income and entries on equity for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2214em;top:16.9031em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4733em;top:16.9031em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.7775em;"><span class="stl_287 stl_08 stl_283" style="word-spacing:-0.0366em;">Deferred tax on other comprehensive income and entries on equity for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2208em;top:17.7775em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.0777em;top:17.7775em;"><span class="stl_287 stl_08 stl_353">-6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.6444em;"><span class="stl_288 stl_11 stl_39" style="word-spacing:-0.0368em;">Tax on other comprehensive income and entries on equity for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.212em;top:18.6444em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.0302em;top:18.6444em;"><span class="stl_288 stl_11 stl_353">-6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.3925em;"><span class="stl_288 stl_11 stl_160" style="word-spacing:-0.0319em;">Total income taxes for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2145em;top:20.3925em;"><span class="stl_288 stl_11 stl_77">146  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.867em;top:20.3925em;"><span class="stl_288 stl_11 stl_29">59  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7849em;top:22.5448em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2936em;top:22.5448em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7799em;top:24.096em;"><span class="stl_288 stl_11 stl_322" style="word-spacing:-0.0459em;">Reconciliation of effective tax rate and tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.3499em;top:24.096em;"><span class="stl_288 stl_11 stl_25">%</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.1417em;top:24.096em;"><span class="stl_288 stl_11 stl_93">DKKm  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.8542em;top:24.096em;"><span class="stl_288 stl_11 stl_25">%</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.6461em;top:24.096em;"><span class="stl_288 stl_11 stl_93">DKKm  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7805em;top:25.3266em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0415em;">Profit before tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.073em;top:25.3266em;"><span class="stl_287 stl_08 stl_217">755  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.543em;top:25.3266em;"><span class="stl_287 stl_08 stl_93">300  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7811em;top:26.7598em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">Applicable tax rate in Denmark  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.6499em;top:26.7598em;"><span class="stl_287 stl_08 stl_32">22.0  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0899em;top:26.7598em;"><span class="stl_287 stl_08 stl_261">166  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1536em;top:26.7598em;"><span class="stl_287 stl_08 stl_32">22.0  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9286em;top:26.7598em;"><span class="stl_287 stl_08 stl_47">66  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7811em;top:27.681em;"><span class="stl_287 stl_08 stl_396" style="word-spacing:-0.0404em;">Effect of tax rate in foreign subsidiaries  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.0461em;top:27.681em;"><span class="stl_287 stl_08 stl_63">0.9  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.8017em;top:27.681em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2774em;top:27.681em;"><span class="stl_287 stl_08 stl_358">-0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.143em;top:27.681em;"><span class="stl_287 stl_08 stl_791">-1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7805em;top:28.6023em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">Income not subject to tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.8355em;top:28.6023em;z-index:734;"><span class="stl_287 stl_08 stl_317">-0</span><span class="stl_287 stl_08 stl_318">.</span><span class="stl_287 stl_08 stl_318">1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.6386em;top:28.6023em;"><span class="stl_287 stl_08 stl_791">-1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3392em;top:28.6023em;z-index:740;"><span class="stl_287 stl_08 stl_317">-0</span><span class="stl_287 stl_08 stl_318">.</span><span class="stl_287 stl_08 stl_318">1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4736em;top:28.6023em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7799em;top:29.5235em;"><span class="stl_287 stl_08 stl_432" style="word-spacing:-0.048em;">Non-deductible costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.0361em;top:29.5235em;"><span class="stl_287 stl_08 stl_448">1.8  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.4655em;top:29.5235em;"><span class="stl_287 stl_08 stl_792">14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5024em;top:29.5235em;"><span class="stl_287 stl_08 stl_31">3.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3042em;top:29.5235em;"><span class="stl_287 stl_08 stl_25">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7792em;top:30.4448em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0386em;">Adjustment, change in tax rates  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.8342em;top:30.4448em;z-index:805;"><span class="stl_287 stl_08 stl_317">-0</span><span class="stl_287 stl_08 stl_318">.</span><span class="stl_287 stl_08 stl_318">1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.6374em;top:30.4448em;"><span class="stl_287 stl_08 stl_791">-1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.338em;top:30.4448em;z-index:811;"><span class="stl_287 stl_08 stl_317">-0</span><span class="stl_287 stl_08 stl_318">.</span><span class="stl_287 stl_08 stl_318">1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4724em;top:30.4448em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:31.366em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0339em;">Tax adjustment in respect of previous years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7711em;top:31.366em;"><span class="stl_287 stl_08 stl_358">-0.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.6367em;top:31.366em;"><span class="stl_287 stl_08 stl_791">-1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3774em;top:31.366em;"><span class="stl_287 stl_08 stl_841">-1.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.0742em;top:31.366em;"><span class="stl_287 stl_08 stl_781">-4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:32.2873em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">Additional tax deduction on R&amp;D costs related to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:33.0373em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">prior years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.8111em;top:33.0373em;"><span class="stl_287 stl_08 stl_103">-3.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.248em;top:33.0373em;"><span class="stl_287 stl_08 stl_77">-28  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2205em;top:33.0373em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4724em;top:33.0373em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:33.9585em;"><span class="stl_287 stl_08 stl_394" style="word-spacing:-0.0418em;">Additional tax deduction on R&amp;D costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.8786em;top:33.9585em;"><span class="stl_287 stl_08 stl_867">-1.0  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.5774em;top:33.9585em;"><span class="stl_287 stl_08 stl_303">-8  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3949em;top:33.9585em;"><span class="stl_287 stl_08 stl_813">-1.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.0886em;top:33.9585em;"><span class="stl_287 stl_08 stl_300">-5  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:34.8798em;"><span class="stl_287 stl_08 stl_285" style="word-spacing:-0.0387em;">Recognition of tax assets, not previously  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:35.6298em;"><span class="stl_287 stl_08 stl_148">recognized  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7717em;top:35.6298em;"><span class="stl_287 stl_08 stl_339">-0.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.608em;top:35.6298em;"><span class="stl_287 stl_08 stl_77">-2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2199em;top:35.6298em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4717em;top:35.6298em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.778em;top:36.5435em;"><span class="stl_288 stl_11 stl_433" style="word-spacing:-0.045em;">Effective tax rate / income tax expense  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.5455em;top:36.5435em;"><span class="stl_288 stl_11 stl_368">19.3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.9605em;top:36.5435em;"><span class="stl_288 stl_11 stl_77">146  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.0399em;top:36.5435em;"><span class="stl_288 stl_11 stl_898">21.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8455em;top:36.5435em;"><span class="stl_288 stl_11 stl_31">65  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.4812em;"><span class="stl_438 stl_92 stl_540" style="word-spacing:-0.0417em;">Current tax / income tax paid  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:57.0347em;top:11.9368em;"><span class="stl_288 stl_11 stl_433" style="word-spacing:-0.045em;">Current tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.804em;top:11.9368em;"><span class="stl_288 stl_11 stl_361" style="word-spacing:-0.037em;">Income tax paid  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4484em;top:13.1256em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.8528em;top:13.1181em;"><span class="stl_288 stl_11 stl_116" style="word-spacing:2.1803em;">2024/25 2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3534em;top:13.1181em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6128em;top:13.1181em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4484em;top:14.6531em;"><span class="stl_287 stl_08 stl_148">China  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.2172em;top:14.6531em;"><span class="stl_287 stl_08 stl_25">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.469em;top:14.6531em;"><span class="stl_287 stl_08 stl_25">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.7209em;top:14.6531em;"><span class="stl_287 stl_08 stl_25">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9728em;top:14.6531em;"><span class="stl_287 stl_08 stl_25">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4478em;top:15.5275em;"><span class="stl_287 stl_08 stl_74">Denmark  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:57.8372em;top:15.5275em;"><span class="stl_287 stl_08 stl_432">40  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.1084em;top:15.5275em;"><span class="stl_287 stl_08 stl_320">42  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3659em;top:15.5275em;"><span class="stl_287 stl_08 stl_63">21  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:71.1416em;top:15.5275em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4478em;top:16.4018em;"><span class="stl_287 stl_08 stl_148">France  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.2166em;top:16.4018em;"><span class="stl_287 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.4684em;top:16.4018em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.7203em;top:16.4018em;"><span class="stl_287 stl_08 stl_25">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9722em;top:16.4018em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4472em;top:17.2762em;"><span class="stl_287 stl_08 stl_169">Germany  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.2159em;top:17.2762em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.4678em;top:17.2762em;"><span class="stl_287 stl_08 stl_25">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.7197em;top:17.2762em;"><span class="stl_287 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:71.1403em;top:17.2762em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4466em;top:18.1506em;"><span class="stl_287 stl_08 stl_433">Italy  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.2153em;top:18.1506em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.4672em;top:18.1506em;"><span class="stl_287 stl_08 stl_25">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.4047em;top:18.1506em;"><span class="stl_287 stl_08 stl_340">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9709em;top:18.1506em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4459em;top:19.025em;"><span class="stl_287 stl_08 stl_79">Malaysia  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:57.8822em;top:19.025em;"><span class="stl_287 stl_08 stl_50">19  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.1528em;top:19.025em;"><span class="stl_287 stl_08 stl_340">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3784em;top:19.025em;"><span class="stl_287 stl_08 stl_364">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9709em;top:19.025em;"><span class="stl_287 stl_08 stl_25">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4459em;top:19.8993em;"><span class="stl_287 stl_08 stl_360">Mexico  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.2147em;top:19.8993em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.4666em;top:19.8993em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8872em;top:19.8993em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:71.1391em;top:19.8993em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4453em;top:20.7737em;"><span class="stl_287 stl_08 stl_135">Spain  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.2141em;top:20.7737em;"><span class="stl_287 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.466em;top:20.7737em;"><span class="stl_287 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.7178em;top:20.7737em;"><span class="stl_287 stl_08 stl_25">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9697em;top:20.7737em;"><span class="stl_287 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4447em;top:21.6481em;"><span class="stl_287 stl_08 stl_31">UK  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.2135em;top:21.6481em;"><span class="stl_287 stl_08 stl_25">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.4653em;top:21.6481em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.7172em;top:21.6481em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9691em;top:21.6481em;"><span class="stl_287 stl_08 stl_25">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4441em;top:22.5224em;"><span class="stl_287 stl_08 stl_12">USA  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:57.8541em;top:22.5224em;"><span class="stl_287 stl_08 stl_122">26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.1053em;top:22.5224em;"><span class="stl_287 stl_08 stl_77">57  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3572em;top:22.5224em;"><span class="stl_287 stl_08 stl_320">28  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6028em;top:22.5224em;"><span class="stl_287 stl_08 stl_328">62  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4447em;top:23.3968em;"><span class="stl_287 stl_08 stl_27" style="word-spacing:-0.0392em;">Other countries  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.2135em;top:23.3968em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.4653em;top:23.3968em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.7172em;top:23.3968em;"><span class="stl_287 stl_08 stl_25">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9691em;top:23.3968em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4441em;top:24.2637em;"><span class="stl_288 stl_11 stl_409" style="word-spacing:-0.0399em;">Current tax / income tax paid  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:57.4285em;top:24.2637em;"><span class="stl_288 stl_11 stl_50">113  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.6272em;top:24.2637em;"><span class="stl_288 stl_11 stl_307">140  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.891em;top:24.2637em;"><span class="stl_288 stl_11 stl_435">101  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5166em;top:24.2637em;"><span class="stl_288 stl_11 stl_78">90  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.440em;top:25.6956em;"><span class="stl_287 stl_08 stl_119" style="word-spacing:-0.0249em;">Income tax paid for the year was DKK 101m (DKK 90m), of which DKK 21m (DKK 0) was in Denmark</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.4812em;"><span class="stl_438 stl_92 stl_39" style="word-spacing:-0.0368em;">Global minimum corporate tax rate – Pillar Two requirements  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.215em;"><span class="stl_287 stl_08 stl_150" style="word-spacing:-0.0295em;">The legislation implementing the OECD’s proposals for a global minimum corporate tax rate (Pillar Two) was  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.9444em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0343em;">enacted into Danish law end of 2023, with effect from 2024. Based on the financial strategic planning, we  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.6737em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0363em;">expect Ambu to be subject to this legislation as from 1 October 2026 and onwards.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.1531em;"><span class="stl_287 stl_08 stl_160" style="word-spacing:-0.0319em;">The Group has performed a high-level assessment of the Group’s potential exposure to Pillar Two income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.8825em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0363em;">taxes for periods from 1 October 2026.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.3619em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">The assessments of the potential exposure to Pillar Two income taxes are based on the most recent tax fil-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.0912em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0372em;">ings and financial statements for the entities in the Group. Based on the assessments, the Pillar Two effective  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.8206em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0347em;">tax rates in most of the jurisdictions in which the Group operates are above 15% and the transitional safe  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.55em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0328em;">harbour relief is expected to apply. On this basis, the Group does not expect a material exposure to Pillar Two  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.2794em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0357em;">income taxes in any jurisdiction.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.7719em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.5294em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0353em;">The tax for the year, which consists of current tax and changes in deferred tax, is recognized in the income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.2794em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0383em;">statement, with the portion attributable to the profit for the year; and in other comprehensive income with  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.0294em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">the portion attributable to amounts recognized directly in other comprehensive income; and in equity with  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.7794em;"><span class="stl_287 stl_08 stl_412" style="word-spacing:-0.0409em;">the portion attributable to amounts recognized directly in equity. The tax effect of share-based payment is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.5294em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0373em;">included in tax on the profit for the year with the portion attributable to the Group’s deductible share of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.2794em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">cost from the Black-Scholes or other applied valuation model, and the remaining tax effect is included in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.0294em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0347em;">equity. Tax is provided on the basis of the tax rules and tax rates applicable in the individual countries.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:9.2258em;"><span class="stl_418 stl_11 stl_475" style="word-spacing:-0.0395em;">2.8 Deferred tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.2494em;top:10.4899em;"><span class="stl_288 stl_11 stl_283">30.09.25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.4982em;top:10.4899em;"><span class="stl_288 stl_11 stl_219">30.09.24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0249em;"><span class="stl_287 stl_08 stl_375" style="word-spacing:-0.0429em;">Deferred tax at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0101em;top:12.0249em;"><span class="stl_287 stl_08 stl_679">156  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6063em;top:12.0249em;"><span class="stl_287 stl_08 stl_328">82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.8756em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.5588em;top:12.8756em;"><span class="stl_287 stl_08 stl_791">-1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.7607em;top:12.8756em;"><span class="stl_287 stl_08 stl_93">-3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:13.7262em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">Deferred tax on share-based payment recognized in equity  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8894em;top:13.7262em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9726em;top:13.7262em;"><span class="stl_287 stl_08 stl_25">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:14.5768em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0353em;">Deferred tax for the year recognized in the income statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.1269em;top:14.5768em;"><span class="stl_287 stl_08 stl_512">-62  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6251em;top:14.5768em;"><span class="stl_287 stl_08 stl_485">71  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4469em;top:15.4274em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0401em;">Adjustments in respect of previous years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3438em;top:15.4274em;"><span class="stl_287 stl_08 stl_155">33  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:71.1401em;top:15.4274em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4463em;top:16.2706em;"><span class="stl_288 stl_11 stl_375" style="word-spacing:-0.0428em;">Deferred tax at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8944em;top:16.2706em;"><span class="stl_288 stl_11 stl_28">126  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1413em;top:16.2706em;"><span class="stl_288 stl_11 stl_679">156  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4463em;top:17.6093em;"><span class="stl_288 stl_11 stl_431" style="word-spacing:-0.0431em;">Deferred tax relates to:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4463em;top:18.4674em;"><span class="stl_287 stl_08 stl_394" style="word-spacing:-0.0417em;">Intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.7463em;top:18.4674em;"><span class="stl_287 stl_08 stl_95">-345  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0076em;top:18.4674em;"><span class="stl_287 stl_08 stl_475">-333  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4463em;top:19.318em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0353em;">Property, plant, and equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.1745em;top:19.318em;"><span class="stl_287 stl_08 stl_354">-24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.4194em;top:19.318em;"><span class="stl_287 stl_08 stl_77">-28  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4463em;top:20.1687em;"><span class="stl_287 stl_08 stl_431" style="word-spacing:-0.0431em;">Current assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3369em;top:20.1687em;"><span class="stl_287 stl_08 stl_595">84  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.3238em;top:20.1687em;"><span class="stl_287 stl_08 stl_899">119  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4463em;top:21.0193em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">Deferred tax on share-based payment recognized in equity  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3738em;top:21.0193em;"><span class="stl_287 stl_08 stl_337">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9707em;top:21.0193em;"><span class="stl_287 stl_08 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4457em;top:21.8699em;"><span class="stl_287 stl_08 stl_146">Provisions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.7182em;top:21.8699em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.3957em;top:21.8699em;"><span class="stl_287 stl_08 stl_117">-32  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4451em;top:22.7205em;"><span class="stl_287 stl_08 stl_46">Payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3438em;top:22.7205em;"><span class="stl_287 stl_08 stl_148">35  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6101em;top:22.7205em;"><span class="stl_287 stl_08 stl_77">27  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4451em;top:23.5712em;"><span class="stl_287 stl_08 stl_207" style="word-spacing:-0.0412em;">Tax loss carry-forwards  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0232em;top:23.5712em;"><span class="stl_287 stl_08 stl_382">361  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2407em;top:23.5712em;"><span class="stl_287 stl_08 stl_57">395  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8932em;top:24.4143em;"><span class="stl_288 stl_11 stl_28">126  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1401em;top:24.4143em;"><span class="stl_288 stl_11 stl_679">156  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4451em;top:25.753em;"><span class="stl_288 stl_11 stl_529" style="word-spacing:-0.0389em;">Classified in the balance sheet as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4451em;top:26.6112em;"><span class="stl_287 stl_08 stl_431" style="word-spacing:-0.0431em;">Deferred tax asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.027em;top:26.6112em;"><span class="stl_287 stl_08 stl_882">137  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2595em;top:26.6112em;"><span class="stl_287 stl_08 stl_250">160  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4451em;top:27.4618em;"><span class="stl_287 stl_08 stl_471" style="word-spacing:-0.0431em;">Deferred tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.2407em;top:27.4618em;"><span class="stl_287 stl_08 stl_335">-11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.7407em;top:27.4618em;"><span class="stl_287 stl_08 stl_781">-4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8926em;top:28.3049em;"><span class="stl_288 stl_11 stl_28">126  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1394em;top:28.3049em;"><span class="stl_288 stl_11 stl_679">156  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4445em;top:29.7299em;"><span class="stl_438 stl_92 stl_151" style="word-spacing:-0.0343em;">Tax losses in the Group  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4445em;top:30.4843em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">On recognizing tax loss carry-forwards in Denmark, the Management has assessed whether convincing evi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4445em;top:31.2343em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0365em;">dence was present, as the Group has a history of recent losses in Denmark, due to high investment levels,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4445em;top:31.9843em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0377em;">lower earnings, and tax deductibility of employees' share-based payments.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4445em;top:33.4843em;"><span class="stl_287 stl_08 stl_26" style="word-spacing:-0.0282em;">Ambu A/S have had positive taxable income in Denmark in 2023/24 and 2024/25.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4445em;top:34.9843em;"><span class="stl_287 stl_08 stl_46" style="word-spacing:-0.0308em;">Tax loss carry-forwards in Denmark totaling DKK 358m (DKK 395m) were recognized at the end of the year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4445em;top:35.7343em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0403em;">The tax loss carry-forwards are recognized on the basis of budgets, and strategy plans for the individual activ-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4445em;top:36.4843em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0373em;">ities approved by the Management. Estimates and assessments of future taxable income are thus consistent  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4445em;top:37.2343em;"><span class="stl_287 stl_08 stl_510" style="word-spacing:-0.0391em;">with the basis for the impairment tests.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4445em;top:38.7343em;"><span class="stl_287 stl_08 stl_46" style="word-spacing:-0.0308em;">In Germany, unrecognized tax assets amounted to DKK 29m (DKK 30m).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5017em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2592em;"><span class="stl_287 stl_08 stl_510" style="word-spacing:-0.0391em;">Deferred tax is measured under the balance-sheet liability method on the basis of all temporary differences  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0092em;"><span class="stl_287 stl_08 stl_475" style="word-spacing:-0.0395em;">between the carrying amount and tax base of assets and liabilities. Deferred tax is not recognized on tempo-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.7592em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0395em;">rary differences resulting from the initial recognition of goodwill. Deferred tax assets, including the tax base  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.5092em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0403em;">of tax loss carry-forwards, are recognized under other non-current assets at the expected usable value, either  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.2592em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0396em;">as a set-off against tax on future income or as a set-off against deferred tax liabilities in the same legal tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.0092em;"><span class="stl_287 stl_08 stl_161">entity.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.5092em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0325em;">Adjustment is made of deferred tax in relation to eliminations made as regards unrealized intercompany prof-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.2592em;"><span class="stl_287 stl_08 stl_392" style="word-spacing:-0.0462em;">its and losses.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.7592em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">The value of deductible temporary differences is recognized to the extent that the Management, on the basis  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.5092em;"><span class="stl_287 stl_08 stl_510" style="word-spacing:-0.0392em;">of budgets, business plans, etc., is able to render probable that the value can be offset against temporary  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.2592em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">deferred tax liabilities or against future taxable income. Tax losses are recognized to the extent that the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.0092em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0381em;">Management can render probable that these can be offset against future taxable income.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.5092em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.0379em;">Deferred tax is calculated on share-based payments to the extent that the individual scheme is deductible  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.2592em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">for the Group. Deferred tax is calculated as the difference between the value of the share-based payment at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.0092em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0353em;">the time of allocation and the fair value, whichever is higher. Deferred tax assets from share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.7592em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">schemes are recognized proportionately over the vesting period. The tax asset is recognized in the income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.5092em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">statement at a value corresponding to the tax deduction for the scheme-related costs recognized in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.2592em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">income statement. Any additional values are recognized directly in equity.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.7592em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">Deferred tax is measured on the basis of the taxation rules and tax rates, which, pursuant to the legislation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.5092em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">in force at the balance sheet date, will apply in the individual countries at the time when the deferred tax is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:29.2592em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0381em;">expected to become payable as current tax. Changes in deferred tax resulting from changes in tax rates are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:30.0092em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">recognized in the income statement.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.7719em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.5294em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0353em;">The tax for the year, which consists of current tax and changes in deferred tax, is recognized in the income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.2794em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0383em;">statement, with the portion attributable to the profit for the year; and in other comprehensive income with  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.0294em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">the portion attributable to amounts recognized directly in other comprehensive income; and in equity with  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.7794em;"><span class="stl_287 stl_08 stl_412" style="word-spacing:-0.0409em;">the portion attributable to amounts recognized directly in equity. The tax effect of share-based payment is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.5294em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0373em;">included in tax on the profit for the year with the portion attributable to the Group’s deductible share of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.2794em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">cost from the Black-Scholes or other applied valuation model, and the remaining tax effect is included in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.0294em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0347em;">equity. Tax is provided on the basis of the tax rules and tax rates applicable in the individual countries.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5017em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2592em;"><span class="stl_287 stl_08 stl_510" style="word-spacing:-0.0391em;">Deferred tax is measured under the balance-sheet liability method on the basis of all temporary differences  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0092em;"><span class="stl_287 stl_08 stl_475" style="word-spacing:-0.0395em;">between the carrying amount and tax base of assets and liabilities. Deferred tax is not recognized on tempo-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.7592em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0395em;">rary differences resulting from the initial recognition of goodwill. Deferred tax assets, including the tax base  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.5092em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0403em;">of tax loss carry-forwards, are recognized under other non-current assets at the expected usable value, either  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.2592em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0396em;">as a set-off against tax on future income or as a set-off against deferred tax liabilities in the same legal tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.0092em;"><span class="stl_287 stl_08 stl_161">entity.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.5092em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0325em;">Adjustment is made of deferred tax in relation to eliminations made as regards unrealized intercompany prof-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.2592em;"><span class="stl_287 stl_08 stl_392" style="word-spacing:-0.0462em;">its and losses.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.7592em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">The value of deductible temporary differences is recognized to the extent that the Management, on the basis  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.5092em;"><span class="stl_287 stl_08 stl_510" style="word-spacing:-0.0392em;">of budgets, business plans, etc., is able to render probable that the value can be offset against temporary  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.2592em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">deferred tax liabilities or against future taxable income. Tax losses are recognized to the extent that the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.0092em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0381em;">Management can render probable that these can be offset against future taxable income.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.5092em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.0379em;">Deferred tax is calculated on share-based payments to the extent that the individual scheme is deductible  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.2592em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">for the Group. Deferred tax is calculated as the difference between the value of the share-based payment at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.0092em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0353em;">the time of allocation and the fair value, whichever is higher. Deferred tax assets from share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.7592em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">schemes are recognized proportionately over the vesting period. The tax asset is recognized in the income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.5092em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">statement at a value corresponding to the tax deduction for the scheme-related costs recognized in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.2592em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">income statement. Any additional values are recognized directly in equity.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.7592em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">Deferred tax is measured on the basis of the taxation rules and tax rates, which, pursuant to the legislation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.5092em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">in force at the balance sheet date, will apply in the individual countries at the time when the deferred tax is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:29.2592em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0381em;">expected to become payable as current tax. Changes in deferred tax resulting from changes in tax rates are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:30.0092em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">recognized in the income statement.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5017em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2592em;"><span class="stl_287 stl_08 stl_510" style="word-spacing:-0.0391em;">Deferred tax is measured under the balance-sheet liability method on the basis of all temporary differences  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0092em;"><span class="stl_287 stl_08 stl_475" style="word-spacing:-0.0395em;">between the carrying amount and tax base of assets and liabilities. Deferred tax is not recognized on tempo-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.7592em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0395em;">rary differences resulting from the initial recognition of goodwill. Deferred tax assets, including the tax base  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.5092em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0403em;">of tax loss carry-forwards, are recognized under other non-current assets at the expected usable value, either  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.2592em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0396em;">as a set-off against tax on future income or as a set-off against deferred tax liabilities in the same legal tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.0092em;"><span class="stl_287 stl_08 stl_161">entity.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.5092em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0325em;">Adjustment is made of deferred tax in relation to eliminations made as regards unrealized intercompany prof-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.2592em;"><span class="stl_287 stl_08 stl_392" style="word-spacing:-0.0462em;">its and losses.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.7592em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">The value of deductible temporary differences is recognized to the extent that the Management, on the basis  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.5092em;"><span class="stl_287 stl_08 stl_510" style="word-spacing:-0.0392em;">of budgets, business plans, etc., is able to render probable that the value can be offset against temporary  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.2592em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">deferred tax liabilities or against future taxable income. Tax losses are recognized to the extent that the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.0092em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0381em;">Management can render probable that these can be offset against future taxable income.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.5092em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.0379em;">Deferred tax is calculated on share-based payments to the extent that the individual scheme is deductible  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.2592em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">for the Group. Deferred tax is calculated as the difference between the value of the share-based payment at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.0092em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0353em;">the time of allocation and the fair value, whichever is higher. Deferred tax assets from share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.7592em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">schemes are recognized proportionately over the vesting period. The tax asset is recognized in the income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.5092em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">statement at a value corresponding to the tax deduction for the scheme-related costs recognized in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.2592em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">income statement. Any additional values are recognized directly in equity.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.7592em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">Deferred tax is measured on the basis of the taxation rules and tax rates, which, pursuant to the legislation  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.5092em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">in force at the balance sheet date, will apply in the individual countries at the time when the deferred tax is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:29.2592em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0381em;">expected to become payable as current tax. Changes in deferred tax resulting from changes in tax rates are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:30.0092em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">recognized in the income statement.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4491em;top:9.2258em;"><span class="stl_418 stl_11 stl_118" style="word-spacing:-0.0248em;">2.9 Earnings per share  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3569em;top:10.4899em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6163em;top:10.4899em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0487em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0367em;">Net profit for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9707em;top:12.0487em;"><span class="stl_287 stl_08 stl_45">609  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2319em;top:12.0487em;"><span class="stl_287 stl_08 stl_126">235  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:13.4818em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0341em;">Average number of class A and class B shares in circulation (’000)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7557em;top:13.4818em;"><span class="stl_287 stl_08 stl_778">266,476  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9538em;top:13.4818em;"><span class="stl_287 stl_08 stl_36">266,331  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.403em;"><span class="stl_287 stl_08 stl_294" style="word-spacing:-0.0405em;">Dilutive effect of outstanding incentive programs settled in shares (’000)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.002em;top:14.403em;"><span class="stl_287 stl_08 stl_307">526  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2188em;top:14.403em;"><span class="stl_287 stl_08 stl_297">383  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:15.3168em;"><span class="stl_288 stl_11 stl_245" style="word-spacing:-0.0402em;">Average number of outstanding class A and class B shares, including  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:16.0668em;"><span class="stl_288 stl_11 stl_347" style="word-spacing:-0.0433em;">the dilutive effect of share-based payment settled in shares (’000)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.507em;top:16.0668em;"><span class="stl_288 stl_11 stl_678">267,002  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.737em;top:16.0668em;"><span class="stl_288 stl_11 stl_647">266,714  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:17.5074em;"><span class="stl_287 stl_08 stl_82" style="word-spacing:-0.0315em;">Earnings per DKK 0.50 share (EPS) in DKK  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8076em;top:17.5074em;"><span class="stl_287 stl_08 stl_76">2.29  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0526em;top:17.5074em;"><span class="stl_287 stl_08 stl_169">0.88  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:18.4287em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0341em;">Diluted earnings per DKK 0.50 share (EPS-D) in DKK  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8163em;top:18.4287em;"><span class="stl_287 stl_08 stl_103">2.28  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0526em;top:18.4287em;"><span class="stl_287 stl_08 stl_169">0.88  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:19.8905em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:20.648em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0341em;">Earnings per share are presented as both earnings per share and diluted earnings per share. Earnings per  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:21.398em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">share are calculated as the net profit for the year divided by the average number of outstanding shares.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:22.148em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0341em;">Diluted earnings per share are calculated as the net profit for the year divided by the sum of the average  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:22.898em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">number of outstanding shares, including the dilutive effect of outstanding share-based payment settled in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:23.648em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">shares that are ‘in the money’. The dilutive effect of share-based payment that is ‘in the money’ is calculated  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:24.398em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">as the difference between the number of shares that could be acquired at fair value for the proceeds from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:25.148em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">the exercise of the share-based payment, offset against the share of the granted fair value of the share-based  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:25.898em;"><span class="stl_287 stl_08 stl_150" style="word-spacing:-0.0295em;">payment not yet recognized.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:19.8905em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:20.648em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0341em;">Earnings per share are presented as both earnings per share and diluted earnings per share. Earnings per  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:21.398em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">share are calculated as the net profit for the year divided by the average number of outstanding shares.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:22.148em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0341em;">Diluted earnings per share are calculated as the net profit for the year divided by the sum of the average  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:22.898em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">number of outstanding shares, including the dilutive effect of outstanding share-based payment settled in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:23.648em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">shares that are ‘in the money’. The dilutive effect of share-based payment that is ‘in the money’ is calculated  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:24.398em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">as the difference between the number of shares that could be acquired at fair value for the proceeds from  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:25.148em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">the exercise of the share-based payment, offset against the share of the granted fair value of the share-based  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:25.898em;"><span class="stl_287 stl_08 stl_150" style="word-spacing:-0.0295em;">payment not yet recognized.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2256em;z-index:47;"><span class="stl_418 stl_11 stl_33">3</span><span class="stl_418 stl_11 stl_893">.</span><span class="stl_418 stl_11 stl_25">1 </span><span class="stl_418 stl_11 stl_297">G</span><span class="stl_418 stl_11 stl_148">oodwill  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.5802em;top:10.4899em;"><span class="stl_288 stl_11 stl_283">30.09.25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.8289em;top:10.4899em;"><span class="stl_288 stl_11 stl_219">30.09.24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0487em;"><span class="stl_287 stl_08 stl_536" style="word-spacing:-0.0456em;">Cost at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8127em;top:12.0487em;"><span class="stl_287 stl_08 stl_386">1,527  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.0308em;top:12.0487em;"><span class="stl_287 stl_08 stl_188">1,565  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.9699em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4645em;top:12.9699em;"><span class="stl_287 stl_08 stl_309">-30  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7183em;top:12.9699em;"><span class="stl_287 stl_08 stl_297">-38  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.8837em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0426em;">Cost at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.6152em;top:13.8837em;"><span class="stl_288 stl_11 stl_348">1,497  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8702em;top:13.8837em;"><span class="stl_288 stl_11 stl_900">1,527  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.3605em;"><span class="stl_287 stl_08 stl_143" style="word-spacing:-0.0276em;">The carrying amount of goodwill at DKK 1,497m (DKK 1,527m) stems primarily from the business combina-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.1105em;"><span class="stl_287 stl_08 stl_201" style="word-spacing:-0.0236em;">tions of Invendo Medical GmbH in 2017 and King Systems Corp. in 2013.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.603em;"><span class="stl_288 stl_11 stl_292" style="word-spacing:-0.0385em;">! Material accounting judgement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.3562em;"><span class="stl_438 stl_92 stl_299" style="word-spacing:-0.0413em;">Impairment testing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.1105em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0325em;">As described in section 2.1, the Ambu Group is managed as one single unit, for which reason the Manage-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.8605em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0326em;">ment monitors goodwill at Group level. Consequently, the impairment test is based on the Group’s market  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.6105em;"><span class="stl_287 stl_08 stl_61">value.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.1105em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0345em;">The market value of Ambu A/S’s shares is based on the quoted price of DKK 92.60 per share on Nasdaq  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.8605em;"><span class="stl_287 stl_08 stl_114" style="word-spacing:-0.0209em;">Copenhagen at 30 September 2025 (DKK 131.15 per share at 30 September 2024). Based on this market value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.6105em;"><span class="stl_287 stl_08 stl_129" style="word-spacing:-0.0214em;">approximation, Ambu's equity value is DKK 24.7bn (DKK 34.9bn), which leaves DKK 18.7bn (DKK 29.3bn) in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.3605em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0347em;">headroom to the carrying amount of equity. Therefore, the Management has concluded that the net selling  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.1105em;"><span class="stl_287 stl_08 stl_38" style="word-spacing:-0.0323em;">price, calculated on the basis of a level 1 fair value measurement, proves that there is no indication of impair-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.8605em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0337em;">ment of goodwill.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:10.478em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.2355em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0357em;">On recognition, goodwill represents the excess cost of an acquisition over the fair value of the identifiable net  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.9855em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0326em;">assets of the acquired company. Subsequently, goodwill is measured at cost less accumulated impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:12.7355em;"><span class="stl_287 stl_08 stl_294" style="word-spacing:-0.0406em;">losses. Goodwill is not amortized.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.2355em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">At the time of acquisition, goodwill is attributed to the cash-generating units which are expected to benefit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.9855em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.0301em;">from the business combination; however, not to a level lower than the segment level and the level at which  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:15.7355em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">goodwill is monitored as part of the internal financial management. The Management has identified one  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:16.4855em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0353em;">operating segment as being the whole Group to which goodwill is allocated.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:17.9855em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0389em;">The carrying amount of goodwill is tested for impairment together with the other non-current assets of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:18.7355em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0341em;">cash-generating unit to which goodwill has been allocated (being the whole Group) and is impaired to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:19.4855em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0339em;">recoverable amount in the income statement if the carrying amount is higher. Impairment of goodwill is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.2355em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0367em;">recognized as a separate item in the income statement. Goodwill is tested annually for impairment, the first  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.9855em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0347em;">time being by the end of the year of recognition in connection with a business combination.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:22.4855em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">The impairment test of goodwill is based on the quoted price on Nasdaq Copenhagen at the balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:23.2355em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0331em;">date. Therefore the impairment test is taking base in level 1 in accordance with the fair value hierarchy.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:24.7355em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">Impairment of goodwill is not reversed. Impairment of other assets is reversed in so far as the assumptions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:25.4855em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">and estimates on the basis of which the impairment is made have been changed. Impairments are only  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.2355em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">reversed in so far as the new carrying amount of the asset does not exceed the carrying amount of the asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.9855em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">after amortization, had the asset not been impaired.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2256em;z-index:47;"><span class="stl_418 stl_11 stl_33">3</span><span class="stl_418 stl_11 stl_893">.</span><span class="stl_418 stl_11 stl_25">1 </span><span class="stl_418 stl_11 stl_297">G</span><span class="stl_418 stl_11 stl_148">oodwill  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.5802em;top:10.4899em;"><span class="stl_288 stl_11 stl_283">30.09.25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.8289em;top:10.4899em;"><span class="stl_288 stl_11 stl_219">30.09.24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0487em;"><span class="stl_287 stl_08 stl_536" style="word-spacing:-0.0456em;">Cost at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8127em;top:12.0487em;"><span class="stl_287 stl_08 stl_386">1,527  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.0308em;top:12.0487em;"><span class="stl_287 stl_08 stl_188">1,565  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.9699em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4645em;top:12.9699em;"><span class="stl_287 stl_08 stl_309">-30  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7183em;top:12.9699em;"><span class="stl_287 stl_08 stl_297">-38  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.8837em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0426em;">Cost at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.6152em;top:13.8837em;"><span class="stl_288 stl_11 stl_348">1,497  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8702em;top:13.8837em;"><span class="stl_288 stl_11 stl_900">1,527  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.3605em;"><span class="stl_287 stl_08 stl_143" style="word-spacing:-0.0276em;">The carrying amount of goodwill at DKK 1,497m (DKK 1,527m) stems primarily from the business combina-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.1105em;"><span class="stl_287 stl_08 stl_201" style="word-spacing:-0.0236em;">tions of Invendo Medical GmbH in 2017 and King Systems Corp. in 2013.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.603em;"><span class="stl_288 stl_11 stl_292" style="word-spacing:-0.0385em;">! Material accounting judgement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.3562em;"><span class="stl_438 stl_92 stl_299" style="word-spacing:-0.0413em;">Impairment testing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.1105em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0325em;">As described in section 2.1, the Ambu Group is managed as one single unit, for which reason the Manage-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.8605em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0326em;">ment monitors goodwill at Group level. Consequently, the impairment test is based on the Group’s market  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.6105em;"><span class="stl_287 stl_08 stl_61">value.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.1105em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0345em;">The market value of Ambu A/S’s shares is based on the quoted price of DKK 92.60 per share on Nasdaq  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.8605em;"><span class="stl_287 stl_08 stl_114" style="word-spacing:-0.0209em;">Copenhagen at 30 September 2025 (DKK 131.15 per share at 30 September 2024). Based on this market value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.6105em;"><span class="stl_287 stl_08 stl_129" style="word-spacing:-0.0214em;">approximation, Ambu's equity value is DKK 24.7bn (DKK 34.9bn), which leaves DKK 18.7bn (DKK 29.3bn) in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.3605em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0347em;">headroom to the carrying amount of equity. Therefore, the Management has concluded that the net selling  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.1105em;"><span class="stl_287 stl_08 stl_38" style="word-spacing:-0.0323em;">price, calculated on the basis of a level 1 fair value measurement, proves that there is no indication of impair-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.8605em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0337em;">ment of goodwill.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:10.478em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.2355em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0357em;">On recognition, goodwill represents the excess cost of an acquisition over the fair value of the identifiable net  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.9855em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0326em;">assets of the acquired company. Subsequently, goodwill is measured at cost less accumulated impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:12.7355em;"><span class="stl_287 stl_08 stl_294" style="word-spacing:-0.0406em;">losses. Goodwill is not amortized.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.2355em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">At the time of acquisition, goodwill is attributed to the cash-generating units which are expected to benefit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.9855em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.0301em;">from the business combination; however, not to a level lower than the segment level and the level at which  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:15.7355em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">goodwill is monitored as part of the internal financial management. The Management has identified one  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:16.4855em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0353em;">operating segment as being the whole Group to which goodwill is allocated.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:17.9855em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0389em;">The carrying amount of goodwill is tested for impairment together with the other non-current assets of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:18.7355em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0341em;">cash-generating unit to which goodwill has been allocated (being the whole Group) and is impaired to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:19.4855em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0339em;">recoverable amount in the income statement if the carrying amount is higher. Impairment of goodwill is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.2355em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0367em;">recognized as a separate item in the income statement. Goodwill is tested annually for impairment, the first  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.9855em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0347em;">time being by the end of the year of recognition in connection with a business combination.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:22.4855em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">The impairment test of goodwill is based on the quoted price on Nasdaq Copenhagen at the balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:23.2355em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0331em;">date. Therefore the impairment test is taking base in level 1 in accordance with the fair value hierarchy.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:24.7355em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">Impairment of goodwill is not reversed. Impairment of other assets is reversed in so far as the assumptions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:25.4855em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">and estimates on the basis of which the impairment is made have been changed. Impairments are only  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.2355em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">reversed in so far as the new carrying amount of the asset does not exceed the carrying amount of the asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.9855em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">after amortization, had the asset not been impaired.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2256em;"><span class="stl_418 stl_11 stl_360" style="word-spacing:-0.0364em;">3.2 Other intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.9877em;top:10.0175em;"><span class="stl_288 stl_11 stl_178">Acquired  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.5683em;top:10.7675em;"><span class="stl_288 stl_11 stl_475">technologies,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.2614em;top:10.7675em;"><span class="stl_288 stl_11 stl_82">Development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.2164em;top:11.5175em;"><span class="stl_288 stl_11 stl_334">trademarks  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.332em;top:11.5175em;"><span class="stl_288 stl_11 stl_409">Completed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.5777em;top:11.5175em;"><span class="stl_288 stl_11 stl_426" style="word-spacing:-0.0476em;">projects and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.982em;top:12.2675em;"><span class="stl_288 stl_11 stl_93" style="word-spacing:-0.052em;">and cust.</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.649em;top:12.2675em;"><span class="stl_288 stl_11 stl_82">development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.0426em;top:12.2675em;"><span class="stl_288 stl_11 stl_147" style="word-spacing:-0.0324em;">Other, incl.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.6589em;top:12.2675em;"><span class="stl_288 stl_11 stl_420" style="word-spacing:-0.0509em;">other assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.025em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0777em;top:13.0175em;"><span class="stl_288 stl_11 stl_525">relations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2383em;top:13.0175em;"><span class="stl_288 stl_11 stl_443">projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.0026em;top:13.0175em;"><span class="stl_288 stl_11 stl_901" style="word-spacing:-0.0577em;">IT software  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.9458em;top:13.0175em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0425em;">in progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.6977em;top:13.0175em;"><span class="stl_288 stl_11 stl_579">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:14.545em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:15.4269em;"><span class="stl_287 stl_08 stl_536" style="word-spacing:-0.0456em;">Cost at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7689em;top:15.4269em;"><span class="stl_287 stl_08 stl_108">923  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2739em;top:15.4269em;"><span class="stl_287 stl_08 stl_338">1,762  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.467em;top:15.4269em;"><span class="stl_287 stl_08 stl_199">282  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.4108em;top:15.4269em;"><span class="stl_287 stl_08 stl_112">350  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.652em;top:15.4269em;"><span class="stl_287 stl_08 stl_811">3,317  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:16.3012em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.3308em;top:16.3012em;"><span class="stl_287 stl_08 stl_356">-7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6389em;top:16.3012em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.3633em;top:16.3012em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:16.3012em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.7008em;top:16.3012em;"><span class="stl_287 stl_08 stl_356">-7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:17.1756em;"><span class="stl_287 stl_08 stl_45" style="word-spacing:-0.033em;">Additions during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6783em;top:17.1756em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6389em;top:17.1756em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.3633em;top:17.1756em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.457em;top:17.1756em;"><span class="stl_287 stl_08 stl_726">267  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.1814em;top:17.1756em;"><span class="stl_287 stl_08 stl_726">267  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:18.05em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">Disposals during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6783em;top:18.05em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6389em;top:18.05em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.5926em;top:18.05em;"><span class="stl_287 stl_08 stl_460">-60  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:18.05em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.2777em;top:18.05em;"><span class="stl_287 stl_08 stl_460">-60  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:18.9244em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.0301em;">Transferred during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6783em;top:18.9244em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.7345em;top:18.9244em;"><span class="stl_287 stl_08 stl_55">246  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.8339em;top:18.9244em;"><span class="stl_287 stl_08 stl_320">52  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.2264em;top:18.9244em;"><span class="stl_287 stl_08 stl_546">-298  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0483em;top:18.9244em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:19.7912em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0426em;">Cost at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.6876em;top:19.7912em;"><span class="stl_288 stl_11 stl_56">916  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9733em;top:19.7912em;"><span class="stl_288 stl_11 stl_475">2,008  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.3808em;top:19.7912em;"><span class="stl_288 stl_11 stl_902">274  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3426em;top:19.7912em;"><span class="stl_288 stl_11 stl_356">319  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.4658em;top:19.7912em;"><span class="stl_288 stl_11 stl_477">3,517  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:21.1375em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.04em;">Amortization and impairment losses at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.5689em;top:21.1375em;"><span class="stl_287 stl_08 stl_204">-547  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.5083em;top:21.1375em;"><span class="stl_287 stl_08 stl_297">-857  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.3033em;top:21.1375em;"><span class="stl_287 stl_08 stl_903">-210  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:21.1375em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.5452em;top:21.1375em;"><span class="stl_287 stl_08 stl_905">-1,614  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:22.0119em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.5095em;top:22.0119em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6389em;top:22.0119em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.1945em;top:22.0119em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:22.0119em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.8795em;top:22.0119em;"><span class="stl_287 stl_08 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:22.8862em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">Disposals during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6783em;top:22.8862em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6389em;top:22.8862em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.8189em;top:22.8862em;"><span class="stl_287 stl_08 stl_155">60  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:22.8862em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5039em;top:22.8862em;"><span class="stl_287 stl_08 stl_155">60  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:23.7606em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">Amortization for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.942em;top:23.7606em;"><span class="stl_287 stl_08 stl_210">-37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.6083em;top:23.7606em;"><span class="stl_287 stl_08 stl_906">-157  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.637em;top:23.7606em;"><span class="stl_287 stl_08 stl_253">-25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:23.7606em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.0001em;top:23.7606em;"><span class="stl_287 stl_08 stl_841">-219  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.6275em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0417em;">Amortization and impairment losses at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.4514em;top:24.6275em;"><span class="stl_288 stl_11 stl_189">-577  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.8976em;top:24.6275em;"><span class="stl_288 stl_11 stl_907">-1,014  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.242em;top:24.6275em;"><span class="stl_288 stl_11 stl_904">-174  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3145em;top:24.6275em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.3051em;top:24.6275em;"><span class="stl_288 stl_11 stl_841">-1,765  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.5018em;"><span class="stl_288 stl_11 stl_97" style="word-spacing:-0.0422em;">Carrying amount at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.6501em;top:25.5018em;"><span class="stl_288 stl_11 stl_126">339  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.6133em;top:25.5018em;"><span class="stl_288 stl_11 stl_579">994  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.3458em;top:25.5018em;"><span class="stl_288 stl_11 stl_25">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.342em;top:25.5018em;"><span class="stl_288 stl_11 stl_356">319  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.477em;top:25.5018em;"><span class="stl_288 stl_11 stl_435">1,752  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.25em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.1318em;"><span class="stl_287 stl_08 stl_536" style="word-spacing:-0.0456em;">Cost at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7664em;top:28.1318em;"><span class="stl_287 stl_08 stl_135">929  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2276em;top:28.1318em;"><span class="stl_287 stl_08 stl_331">1,492  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.4676em;top:28.1318em;"><span class="stl_287 stl_08 stl_253">257  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3783em;top:28.1318em;"><span class="stl_287 stl_08 stl_827">444  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.6864em;top:28.1318em;"><span class="stl_287 stl_08 stl_776">3,122  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:29.0062em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.282em;top:29.0062em;"><span class="stl_287 stl_08 stl_353">-6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.4689em;top:29.0062em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.362em;top:29.0062em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.9914em;top:29.0062em;"><span class="stl_287 stl_08 stl_791">-1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.652em;top:29.0062em;"><span class="stl_287 stl_08 stl_353">-6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:29.8806em;"><span class="stl_287 stl_08 stl_45" style="word-spacing:-0.033em;">Additions during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.677em;top:29.8806em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6376em;top:29.8806em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.362em;top:29.8806em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.4314em;top:29.8806em;"><span class="stl_287 stl_08 stl_274">201  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.1558em;top:29.8806em;"><span class="stl_287 stl_08 stl_274">201  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:30.755em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.0301em;">Transferred during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6764em;top:30.755em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.7558em;top:30.755em;"><span class="stl_287 stl_08 stl_261">269  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.8264em;top:30.755em;"><span class="stl_287 stl_08 stl_189">25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.2364em;top:30.755em;"><span class="stl_287 stl_08 stl_331">-294  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0464em;top:30.755em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:31.6218em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0426em;">Cost at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.6445em;top:31.6218em;"><span class="stl_288 stl_11 stl_112">923  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0758em;top:31.6218em;"><span class="stl_288 stl_11 stl_368">1,762  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.3339em;top:31.6218em;"><span class="stl_288 stl_11 stl_108">282  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.2883em;top:31.6218em;"><span class="stl_288 stl_11 stl_76">350  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.4514em;top:31.6218em;"><span class="stl_288 stl_11 stl_307">3,317  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:32.9681em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.04em;">Amortization and impairment losses at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.5795em;top:32.9681em;"><span class="stl_287 stl_08 stl_593">-286  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4833em;top:32.9681em;"><span class="stl_287 stl_08 stl_674">-604  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.3133em;top:32.9681em;"><span class="stl_287 stl_08 stl_869">-186  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3214em;top:32.9681em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.5176em;top:32.9681em;"><span class="stl_287 stl_08 stl_908">-1,076  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:33.8425em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.5064em;top:33.8425em;"><span class="stl_287 stl_08 stl_25">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6358em;top:33.8425em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.0001em;top:33.8425em;"><span class="stl_287 stl_08 stl_77">-2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3208em;top:33.8425em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.8764em;top:33.8425em;"><span class="stl_287 stl_08 stl_25">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:34.7168em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">Impairment losses for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.5733em;top:34.7168em;"><span class="stl_287 stl_08 stl_102">-206  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.617em;top:34.7168em;"><span class="stl_287 stl_08 stl_326">-121  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.3601em;top:34.7168em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3208em;top:34.7168em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.9426em;top:34.7168em;"><span class="stl_287 stl_08 stl_15">-327  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:35.5912em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">Amortization for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9558em;top:35.5912em;"><span class="stl_287 stl_08 stl_353">-</span><span class="stl_287 stl_08 stl_388">6</span><span class="stl_287 stl_08 stl_388">1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.607em;top:35.5912em;"><span class="stl_287 stl_08 stl_909">-132  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.6308em;top:35.5912em;"><span class="stl_287 stl_08 stl_378">-22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3208em;top:35.5912em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.9908em;top:35.5912em;"><span class="stl_287 stl_08 stl_569">-215  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:36.4581em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0417em;">Amortization and impairment losses at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.437em;top:36.4581em;"><span class="stl_288 stl_11 stl_103">-547  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.3951em;top:36.4581em;"><span class="stl_288 stl_11 stl_117">-857  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1601em;top:36.4581em;"><span class="stl_288 stl_11 stl_370">-210  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.312em;top:36.4581em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.3308em;top:36.4581em;"><span class="stl_288 stl_11 stl_813">-1,614  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:37.3325em;"><span class="stl_288 stl_11 stl_97" style="word-spacing:-0.0422em;">Carrying amount at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.6933em;top:37.3325em;"><span class="stl_288 stl_11 stl_356">376  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.6001em;top:37.3325em;"><span class="stl_288 stl_11 stl_148">905  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.7501em;top:37.3325em;"><span class="stl_288 stl_11 stl_348">72  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.2876em;top:37.3325em;"><span class="stl_288 stl_11 stl_76">350  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.4526em;top:37.3325em;"><span class="stl_288 stl_11 stl_499">1,703  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:9.965em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0353em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:10.7225em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Acquired technologies, trademarks, and customer relations, primarily  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:11.4725em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">comprising identified technologies, are recognized at fair value at the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:12.2225em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">time of acquisition in connection with a business combination. Any  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:12.9725em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">other intangible asset is recognized at cost.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:14.4725em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">Development and IT projects are recognized as intangible assets if  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:15.2225em;"><span class="stl_287 stl_08 stl_31" style="word-spacing:-0.042em;">they meet certain criteria. These projects must be clearly defined and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:15.9725em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0376em;">identifiable, with proven technical feasibility and sufficient resources  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:16.7225em;"><span class="stl_287 stl_08 stl_150" style="word-spacing:-0.0297em;">available for completion. Additionally, there should be a potential mar-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:17.4725em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0351em;">ket or scope for the project, and the Group must intend to produce,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:18.2225em;"><span class="stl_287 stl_08 stl_309" style="word-spacing:-0.0411em;">market, or use the project. The directly attributable cost should be  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:18.9725em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0377em;">reliably measurable, and there must be certainty that future earnings  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:19.7225em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0349em;">or the net selling price will cover all costs.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:21.215em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0418em;">Useful lifetime and residual value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:21.9725em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">Intangible assets, excl. goodwill, are amortized according to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:22.7225em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">straight-line method over the expected useful lifetime of the indi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:23.4725em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0384em;">vidual asset. The residual value for all intangible assets is assessed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:24.2225em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0363em;">as zero. The amortization of the intangible asset commences upon  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:24.9725em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0375em;">completion of the project or when the asset is ready for use. The basis  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:25.7225em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">of amortization is reduced by impairment losses, if any. The useful  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:26.4725em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">life of the asset may subsequently be changed if the original assump-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:27.2225em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0328em;">tions on which the useful life and any residual value are based have  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:27.9725em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0333em;">changed significantly.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:29.4725em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">The expected useful lifetimes of intangible assets are as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:30.9725em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.034em;">Acquired technologies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8245em;top:30.9725em;"><span class="stl_287 stl_08 stl_866">5</span><span class="stl_287 stl_08 stl_302">-</span><span class="stl_287 stl_08 stl_105" style="word-spacing:-0.0152em;">15 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:31.7225em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">Completed development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8189em;top:31.7225em;"><span class="stl_287 stl_08 stl_866">5</span><span class="stl_287 stl_08 stl_302">-</span><span class="stl_287 stl_08 stl_140" style="word-spacing:-0.0188em;">10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:32.4725em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">Distribution rights, patents, and licenses, etc.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.7689em;top:32.4725em;"><span class="stl_287 stl_08 stl_37" style="word-spacing:-0.0311em;">5-20 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:33.2225em;"><span class="stl_287 stl_08 stl_521" style="word-spacing:-0.0528em;">IT software projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.1158em;top:33.2225em;"><span class="stl_287 stl_08 stl_322" style="word-spacing:-0.046em;">3-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:10.4781em;"><span class="stl_288 stl_11 stl_344" style="word-spacing:-0.0424em;">Sensitivity analysis for the impairment test of the GI technologies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.2356em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0379em;">The sensitivity analysis assesses the impact of changes in key assumptions of the result of the impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.9856em;"><span class="stl_287 stl_08 stl_98">test.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:13.4856em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">The ‘relief from royalty’ method estimates the discounted value of an intangible asset determined by the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.2356em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0397em;">expected royalty payments to a third party to be saved by owning the respective asset instead of licensing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.9856em;"><span class="stl_287 stl_08 stl_285" style="word-spacing:-0.0388em;">the respective asset. When applying the ‘relief from royalty’ method in the impairment test for the GI techno-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:15.7356em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">logies, the fair value is measured over the useful lifetime of the individual assets and by applying the main key  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:16.4856em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0357em;">assumptions as revenue, royalty rate, and pre-tax discount rate.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:17.9856em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0361em;">Useful lifetime for GI technologies is 15 years from FDA approval of the first product generation, also corre-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:18.7356em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">sponding to the budgeted period used in the impairment test.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.2356em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0367em;">The sensitivity shown for revenue is the amount of decrease in headroom, when reducing the expected reve-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.9856em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0369em;">nue in all budgeted years by 5 percentage points, everything else kept equal.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:22.4856em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">The sensitivity shown for royalty rate is the amount of decrease in headroom, when reducing the applied roy-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:23.2356em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0401em;">alty rate by 5 percentage points, everything else kept equal.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:24.7356em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">The sensitivity shown for pre-tax discount rate is the amount of decrease in headroom, when increasing the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:25.4856em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">applied pre-tax discount rate by 1 percentage point, everything else kept equal.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.9368em;"><span class="stl_288 stl_11 stl_298" style="word-spacing:-0.0373em;">Key assumptions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5357em;top:26.9368em;"><span class="stl_288 stl_11 stl_245">Description  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.4956em;"><span class="stl_287 stl_08 stl_101">Revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5357em;top:28.4956em;"><span class="stl_287 stl_08 stl_119" style="word-spacing:0.225em;">• Revenue</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:49.883em;top:28.4956em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0365em;">in the budgeted period is based on a combination of expected quantities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:29.2456em;"><span class="stl_287 stl_08 stl_111">(CAGR)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.1607em;top:29.2456em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">sold and the average selling price, together with a 15 years of survival curve for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.1607em;top:29.9956em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0331em;">each technology, commencing upon first FDA approval  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:31.1768em;"><span class="stl_287 stl_08 stl_394" style="word-spacing:-0.0418em;">Royalty rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5357em;top:31.1768em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:0.2085em;">• Based</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:49.177em;top:31.1768em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0395em;">on an expected royalty rate paid to an independent third party to license the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.1607em;top:31.9268em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0353em;">individual technology  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:33.1081em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0365em;">Discounted rates  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5357em;top:33.1081em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:0.2085em;">• Based</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:49.177em;top:33.1081em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0338em;">on 20-year government bonds  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:33.8581em;"><span class="stl_287 stl_08 stl_109" style="word-spacing:-0.0229em;">(net of tax)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5357em;top:33.8581em;"><span class="stl_287 stl_08 stl_375" style="word-spacing:0.2072em;">• Equity</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:49.188em;top:33.8581em;"><span class="stl_287 stl_08 stl_87" style="word-spacing:-0.0058em;">risk premium: 8.3% (8.1%)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5357em;top:34.6081em;"><span class="stl_287 stl_08 stl_119" style="word-spacing:0.225em;">• Premium</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:50.032em;top:34.6081em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0375em;">added to adjust for variability and associated risks of the in-market and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.1607em;top:35.3581em;"><span class="stl_287 stl_08 stl_207" style="word-spacing:-0.0413em;">pipeline products  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5312em;"><span class="stl_288 stl_11 stl_375" style="word-spacing:-0.0429em;">Result of impairment testing of other intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2887em;"><span class="stl_871 stl_651 stl_35" style="word-spacing:-0.0328em;">Result of impairment testing of the GI technologies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0387em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">The impairment test of the GI technologies is covering the assets categories ‘Acquired technologies, trade-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.7887em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">marks and cust. relations’, ‘Completed development projects’ and ‘Development projects and other assets in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.5387em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0328em;">progress’. The impairment test of the GI technologies covers approximately a third of the total other intangi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.2887em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">ble assets for the group.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.7887em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">In accordance with the group accounting policy for impairment testing of other intangible assets, both fair  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.5387em;"><span class="stl_287 stl_08 stl_169" style="word-spacing:-0.0333em;">value and value in use were evaluated as part of the 2024/25 impairment test of the GI technologies. The  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.2887em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0375em;">assessment confirmed that the fair value represents the recoverable amount of the assets. The impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.0387em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0344em;">test concluded that there are no indications for further impairment, nor any basis for reversing the impair-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.7887em;"><span class="stl_287 stl_08 stl_101" style="word-spacing:-0.0246em;">ment loss recognized in 2023/24.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.2887em;"><span class="stl_287 stl_08 stl_18" style="word-spacing:-0.0308em;">In 2023/24, an impairment loss of DKK 327m on Acquired technologies and completed development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.0387em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">was recognised, following the strategic review across our GI endoscopy business. The impairment loss was  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.7887em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">charged to special items, as described in note 2.6.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.2887em;"><span class="stl_871 stl_651 stl_45" style="word-spacing:-0.0331em;">Result of impairment testing of other intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.0387em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0372em;">The impairment test of other intangible assets is covering the remaining part of ‘Development projects and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.7887em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">other assets in progress’ in scope for annual impairment testing.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.2887em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">The impairment tests of other intangible assets, 2024/25, did not result in recognition of impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.0387em;"><span class="stl_287 stl_08 stl_36" style="word-spacing:-0.0185em;">(2023/24: no impairment losses).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.5387em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0377em;">No sensitivity analysis has been made for the impairment test of other intangible assets as the impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:29.2887em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">test shows a clear result of no need for recognition of impairment losses.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2256em;"><span class="stl_418 stl_11 stl_75" style="word-spacing:-0.0294em;">3.2 Other intangible assets (continued)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.3802em;top:10.4899em;"><span class="stl_288 stl_11 stl_161">Cholangio  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.792em;top:10.4899em;"><span class="stl_288 stl_11 stl_361">Colon  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.7558em;top:10.4899em;"><span class="stl_288 stl_11 stl_403">Duodeno  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.5464em;top:10.4899em;"><span class="stl_288 stl_11 stl_643">Gastro  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:12.0412em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:12.9699em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0415em;">Carrying amount, tested technology  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.4252em;top:12.9699em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.8902em;top:12.9699em;"><span class="stl_287 stl_08 stl_595">84  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.587em;top:12.9699em;"><span class="stl_287 stl_08 stl_338">247  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5808em;top:12.9699em;"><span class="stl_287 stl_08 stl_386">207  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:13.8912em;"><span class="stl_287 stl_08 stl_202" style="word-spacing:-0.0156em;">Impairment loss (-) / headroom (+)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.4252em;top:13.8912em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.272em;top:13.8912em;"><span class="stl_287 stl_08 stl_25">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9427em;top:13.8912em;"><span class="stl_287 stl_08 stl_337">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9683em;top:13.8912em;"><span class="stl_287 stl_08 stl_792">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:14.8124em;"><span class="stl_287 stl_08 stl_285" style="word-spacing:-0.0388em;">Carrying amount at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.4245em;top:14.8124em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.8895em;top:14.8124em;"><span class="stl_287 stl_08 stl_595">84  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5864em;top:14.8124em;"><span class="stl_287 stl_08 stl_338">247  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5808em;top:14.8124em;"><span class="stl_287 stl_08 stl_386">207  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:16.2456em;"><span class="stl_871 stl_651 stl_361" style="word-spacing:-0.0369em;">Carrying amount is classified as:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:17.1668em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0373em;">Acquired technologies, trademarks and cust. relations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.4252em;top:17.1668em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.8945em;top:17.1668em;"><span class="stl_287 stl_08 stl_47">66  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5708em;top:17.1668em;"><span class="stl_287 stl_08 stl_59">146  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9233em;top:17.1668em;"><span class="stl_287 stl_08 stl_432">85  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:18.0881em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">Completed development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.4245em;top:18.0881em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9314em;top:18.0881em;"><span class="stl_287 stl_08 stl_364">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5864em;top:18.0881em;"><span class="stl_287 stl_08 stl_323">101  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6745em;top:18.0881em;"><span class="stl_287 stl_08 stl_340">111  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:19.0093em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0397em;">Development projects and other assets in progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.4245em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.4402em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4558em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9883em;top:19.0093em;"><span class="stl_287 stl_08 stl_340">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:20.4349em;"><span class="stl_288 stl_11 stl_510" style="word-spacing:-0.0392em;">Budget period  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:21.3637em;"><span class="stl_287 stl_08 stl_157" style="word-spacing:-0.0195em;">Revenue (CAGR)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.3877em;top:21.3637em;"><span class="stl_287 stl_08 stl_354">19%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4358em;top:21.3637em;"><span class="stl_287 stl_08 stl_875">76%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.3814em;top:21.3637em;"><span class="stl_287 stl_08 stl_155">30%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:22.2849em;"><span class="stl_287 stl_08 stl_394" style="word-spacing:-0.0418em;">Royalty rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.3589em;top:22.2849em;"><span class="stl_287 stl_08 stl_117">20%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3895em;top:22.2849em;"><span class="stl_287 stl_08 stl_199">25%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.3902em;top:22.2849em;"><span class="stl_287 stl_08 stl_117">20%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:23.2062em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0383em;">Pre-tax discount rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.8527em;top:23.2062em;"><span class="stl_287 stl_08 stl_212">14.5%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.947em;top:23.2062em;"><span class="stl_287 stl_08 stl_813">11.9%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.9614em;top:23.2062em;"><span class="stl_287 stl_08 stl_813">11.9%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:24.6318em;"><span class="stl_288 stl_11 stl_285" style="word-spacing:-0.0388em;">Sensitivity analysis – impact on headroom</span><sup style="top: -0.2075em;"><span class="stl_295 stl_11 stl_842" style="word-spacing:-0.0665em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.5613em;"><span class="stl_287 stl_08 stl_157" style="word-spacing:-0.0195em;">Revenue (CAGR)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.0464em;top:25.5613em;"><span class="stl_287 stl_08 stl_353">-6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7901em;top:25.5613em;"><span class="stl_287 stl_08 stl_795">-13  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.802em;top:25.5613em;"><span class="stl_287 stl_08 stl_346">-15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.4825em;"><span class="stl_287 stl_08 stl_540" style="word-spacing:-0.0416em;">Royalty rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7126em;top:26.4825em;"><span class="stl_287 stl_08 stl_57">-29  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7433em;top:26.4825em;"><span class="stl_287 stl_08 stl_354">-51  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.772em;top:26.4825em;"><span class="stl_287 stl_08 stl_323">-75  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:27.4038em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0383em;">Pre-tax discount rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.047em;top:27.4038em;"><span class="stl_287 stl_08 stl_353">-6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7945em;top:27.4038em;"><span class="stl_287 stl_08 stl_359">-12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8076em;top:27.4038em;"><span class="stl_287 stl_08 stl_50">-14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.68em;"><span class="stl_911 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.1998em;top:28.6415em;"><span class="stl_235 stl_08 stl_617" style="word-spacing:-0.0521em;">Sensitivity for revenue and royalty rate is based on a 5 percentage points decrease, and pre-tax discount rate is based on a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.1998em;top:29.3915em;"><span class="stl_235 stl_08 stl_641" style="word-spacing:-0.0507em;">1 percentage point increase  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.0494em;top:10.4899em;"><span class="stl_288 stl_11 stl_161">Cholangio  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.4613em;top:10.4899em;"><span class="stl_288 stl_11 stl_361">Colon  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4251em;top:10.4899em;"><span class="stl_288 stl_11 stl_403">Duodeno  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2157em;top:10.4899em;"><span class="stl_288 stl_11 stl_643">Gastro  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:12.0412em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:12.9699em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0415em;">Carrying amount, tested technology  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.5663em;top:12.9699em;"><span class="stl_287 stl_08 stl_122">26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.1963em;top:12.9699em;"><span class="stl_287 stl_08 stl_112">254  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.2857em;top:12.9699em;"><span class="stl_287 stl_08 stl_352">416  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2432em;top:12.9699em;"><span class="stl_287 stl_08 stl_378">227  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:13.8912em;"><span class="stl_287 stl_08 stl_202" style="word-spacing:-0.0156em;">Impairment loss (-) / headroom (+)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.3744em;top:13.8912em;"><span class="stl_287 stl_08 stl_307">-26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.0763em;top:13.8912em;"><span class="stl_287 stl_08 stl_315">-162  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0926em;top:13.8912em;"><span class="stl_287 stl_08 stl_906">-139  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6326em;top:13.8912em;"><span class="stl_287 stl_08 stl_251">67  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4469em;top:14.8124em;"><span class="stl_287 stl_08 stl_285" style="word-spacing:-0.0388em;">Carrying amount at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.0932em;top:14.8124em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.5663em;top:14.8124em;"><span class="stl_287 stl_08 stl_78">92  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.2301em;top:14.8124em;"><span class="stl_287 stl_08 stl_227">277  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2419em;top:14.8124em;"><span class="stl_287 stl_08 stl_378">227  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4469em;top:16.2456em;"><span class="stl_871 stl_651 stl_361" style="word-spacing:-0.0369em;">Carrying amount is classified as:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4469em;top:17.1668em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0373em;">Acquired technologies, trademarks and cust. relations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.0932em;top:17.1668em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.5932em;top:17.1668em;"><span class="stl_287 stl_08 stl_485">71  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.2963em;top:17.1668em;"><span class="stl_287 stl_08 stl_790">161  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5976em;top:17.1668em;"><span class="stl_287 stl_08 stl_78">92  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4463em;top:18.0881em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">Completed development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.0926em;top:18.0881em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.5844em;top:18.0881em;"><span class="stl_287 stl_08 stl_63">21  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3063em;top:18.0881em;"><span class="stl_287 stl_08 stl_388">116  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2788em;top:18.0881em;"><span class="stl_287 stl_08 stl_376">128  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4463em;top:19.0093em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0397em;">Development projects and other assets in progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.0926em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.1082em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:67.1238em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9707em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4457em;top:20.4349em;"><span class="stl_288 stl_11 stl_510" style="word-spacing:-0.0392em;">Budget period  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4457em;top:21.3637em;"><span class="stl_287 stl_08 stl_157" style="word-spacing:-0.0195em;">Revenue (CAGR)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.0557em;top:21.3637em;"><span class="stl_287 stl_08 stl_354">19%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.1288em;top:21.3637em;"><span class="stl_287 stl_08 stl_730">61%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0732em;top:21.3637em;"><span class="stl_287 stl_08 stl_217">27%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4457em;top:22.2849em;"><span class="stl_287 stl_08 stl_394" style="word-spacing:-0.0418em;">Royalty rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.0269em;top:22.2849em;"><span class="stl_287 stl_08 stl_117">20%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0576em;top:22.2849em;"><span class="stl_287 stl_08 stl_199">25%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0582em;top:22.2849em;"><span class="stl_287 stl_08 stl_117">20%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4451em;top:23.2062em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0383em;">Pre-tax discount rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.6101em;top:23.2062em;"><span class="stl_287 stl_08 stl_580">14.1%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.5901em;top:23.2062em;"><span class="stl_287 stl_08 stl_874">11.5%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6044em;top:23.2062em;"><span class="stl_287 stl_08 stl_874">11.5%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4444em;top:24.6318em;"><span class="stl_288 stl_11 stl_285" style="word-spacing:-0.0387em;">Sensitivity analysis – impact on headroom</span><sup style="top: -0.2075em;"><span class="stl_295 stl_11 stl_910" style="word-spacing:-0.0664em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:25.5613em;"><span class="stl_287 stl_08 stl_119">Revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.7269em;top:25.5613em;"><span class="stl_287 stl_08 stl_300">-5  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.4601em;top:25.5613em;"><span class="stl_287 stl_08 stl_50">-14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.4763em;top:25.5613em;"><span class="stl_287 stl_08 stl_912">-16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.4825em;"><span class="stl_287 stl_08 stl_394" style="word-spacing:-0.0418em;">Royalty rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.3919em;top:26.4825em;"><span class="stl_287 stl_08 stl_307">-26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3713em;top:26.4825em;"><span class="stl_287 stl_08 stl_47">-56  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.3713em;top:26.4825em;"><span class="stl_287 stl_08 stl_434">-80  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.4038em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0383em;">Pre-tax discount rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.7632em;top:27.4038em;"><span class="stl_287 stl_08 stl_356">-7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.4557em;top:27.4038em;"><span class="stl_287 stl_08 stl_346">-15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.4763em;top:27.4038em;"><span class="stl_287 stl_08 stl_912">-16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.68em;"><span class="stl_911 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.869em;top:28.6415em;"><span class="stl_235 stl_08 stl_617" style="word-spacing:-0.0521em;">Sensitivity for revenue and royalty rate is based on a 5 percentage points decrease, and pre-tax discount rate is based on a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.869em;top:29.3915em;"><span class="stl_235 stl_08 stl_420" style="word-spacing:-0.0507em;">1 percentage point increase  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5652em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.3183em;"><span class="stl_438 stl_92 stl_471" style="word-spacing:-0.0432em;">Impairment testing of other intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0727em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">At each reporting date, the Management performs an assessment of whether internal or external indications  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.8227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0359em;">of impairment of the identified intangible assets exist. If there is any indication of impairment, an impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.5727em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0373em;">test is carried out. If an indication of impairment exists, the recoverable amount of the asset is determined,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.3227em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">i.e. the higher of the fair value of the asset, less anticipated costs of disposal and its value-in-use. For assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.0727em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">that are either fully or partially impaired, both their fair value and value-in-use are assessed to verify whether  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.8227em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">the impairment remains and to determine if further impairment, or a reversal of previously recorded impair-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.5727em;"><span class="stl_287 stl_08 stl_412" style="word-spacing:-0.0407em;">ment losses, is necessary.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.0727em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0345em;">Reversals of previously recognized impairment losses are only recorded when there is a change in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.8227em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0367em;">assumptions for the original impairment. This includes changes in expected future cash flows or the discount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.5727em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">rate, in the case of value-in-use, or an increase in fair value, reflecting a genuine improvement of the asset’s  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.3227em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0332em;">recoverable amount, excluding changes solely due to the passage of time.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.8227em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">Development projects in progress, either acquired or internally generated, are tested for impairment mini-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.5727em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">mum on an annual basis and if there is any indication of impairment. For completed development projects, it  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.3227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">is continuously assessed whether there is any indication of impairment.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.8227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">Impairment tests are either carried out by calculating the value in use, by using a discounted cashflow model,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.5727em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0363em;">or by calculating the fair value, depending on the type of intangible asset. If the initial impairment test shows  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.3227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">a calculated amount lower than the carrying value of the asset, both fair value and value in use are calculated,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.0727em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0339em;">and an impairment loss is recognized at the higher amount of either fair value or value in use if both calcu-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.8227em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0381em;">lated values are below the carrying amount of the asset. The impairment assessment, and the possible fol-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.5727em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.0379em;">lowing impairment test, is carried out per individual asset.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:10.579em;"><span class="stl_288 stl_11 stl_294" style="word-spacing:-0.0405em;">! Material accounting estimates and judgement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.3321em;"><span class="stl_438 stl_92 stl_437" style="word-spacing:-0.0435em;">Impairment test of other intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:12.0865em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">The Management assess the risk of impairment of the Ambu Group’s intangible assets. This requires judg-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:12.8365em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0381em;">ment in relation to the underlying assumptions of the future expected cash flows, of the individual assets, to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:13.5865em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0344em;">be applied in the Group’s impairment model. An impairment test is performed at least once a year for devel-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.3365em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0376em;">opment projects in progress. The impairment test is for each development project in progress determined  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:15.0865em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">on the basis of certain key assumptions, i.e. payback time, net present value, and actual development costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:15.8365em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0357em;">realised compared to the business case.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:17.3365em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0353em;">For acquired and completed development projects related to the GI technologies, the impairment test is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:18.0865em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0357em;">conducted by use of the ‘relief from royalty’ method as valuation model for determining the fair value. This is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:18.8365em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">consistent with the valuation method applied when the technologies were acquired.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.3365em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0359em;">The fair value hierarchy, by use of the ‘relief from royalty’ method is level 3, as unobservable inputs are used  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:21.0865em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">to measure the fair value to the extent that relevant observable inputs are not available, which include any  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:21.8365em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0341em;">information about market participant assumptions that is reasonably available.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:23.3365em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">The recoverable amount of each identified intangible asset related to the GI technologies is determined on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:24.0865em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0367em;">the basis of certain key assumptions, i.e. expected revenue, royalty rate, and discount rate, etc. The cash flow  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:24.8365em;"><span class="stl_287 stl_08 stl_396" style="word-spacing:-0.0403em;">projections for the individual assets, applied in the short-, mid-, and long-term perspective, reflects Man-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:25.5865em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">agement’s best estimate, including Group-strategic initiatives, local initiatives, past experience, and external  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.3365em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">sources of information, where possible and relevant for the individual assets.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2256em;z-index:47;"><span class="stl_418 stl_11 stl_33">3</span><span class="stl_418 stl_11 stl_893">.</span><span class="stl_418 stl_11 stl_25">1 </span><span class="stl_418 stl_11 stl_297">G</span><span class="stl_418 stl_11 stl_148">oodwill  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.5802em;top:10.4899em;"><span class="stl_288 stl_11 stl_283">30.09.25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.8289em;top:10.4899em;"><span class="stl_288 stl_11 stl_219">30.09.24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0487em;"><span class="stl_287 stl_08 stl_536" style="word-spacing:-0.0456em;">Cost at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8127em;top:12.0487em;"><span class="stl_287 stl_08 stl_386">1,527  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.0308em;top:12.0487em;"><span class="stl_287 stl_08 stl_188">1,565  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.9699em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4645em;top:12.9699em;"><span class="stl_287 stl_08 stl_309">-30  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7183em;top:12.9699em;"><span class="stl_287 stl_08 stl_297">-38  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.8837em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0426em;">Cost at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.6152em;top:13.8837em;"><span class="stl_288 stl_11 stl_348">1,497  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8702em;top:13.8837em;"><span class="stl_288 stl_11 stl_900">1,527  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.3605em;"><span class="stl_287 stl_08 stl_143" style="word-spacing:-0.0276em;">The carrying amount of goodwill at DKK 1,497m (DKK 1,527m) stems primarily from the business combina-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.1105em;"><span class="stl_287 stl_08 stl_201" style="word-spacing:-0.0236em;">tions of Invendo Medical GmbH in 2017 and King Systems Corp. in 2013.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.603em;"><span class="stl_288 stl_11 stl_292" style="word-spacing:-0.0385em;">! Material accounting judgement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.3562em;"><span class="stl_438 stl_92 stl_299" style="word-spacing:-0.0413em;">Impairment testing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.1105em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0325em;">As described in section 2.1, the Ambu Group is managed as one single unit, for which reason the Manage-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.8605em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0326em;">ment monitors goodwill at Group level. Consequently, the impairment test is based on the Group’s market  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.6105em;"><span class="stl_287 stl_08 stl_61">value.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.1105em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0345em;">The market value of Ambu A/S’s shares is based on the quoted price of DKK 92.60 per share on Nasdaq  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.8605em;"><span class="stl_287 stl_08 stl_114" style="word-spacing:-0.0209em;">Copenhagen at 30 September 2025 (DKK 131.15 per share at 30 September 2024). Based on this market value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.6105em;"><span class="stl_287 stl_08 stl_129" style="word-spacing:-0.0214em;">approximation, Ambu's equity value is DKK 24.7bn (DKK 34.9bn), which leaves DKK 18.7bn (DKK 29.3bn) in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.3605em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0347em;">headroom to the carrying amount of equity. Therefore, the Management has concluded that the net selling  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.1105em;"><span class="stl_287 stl_08 stl_38" style="word-spacing:-0.0323em;">price, calculated on the basis of a level 1 fair value measurement, proves that there is no indication of impair-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.8605em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0337em;">ment of goodwill.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:10.478em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.2355em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0357em;">On recognition, goodwill represents the excess cost of an acquisition over the fair value of the identifiable net  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.9855em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0326em;">assets of the acquired company. Subsequently, goodwill is measured at cost less accumulated impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:12.7355em;"><span class="stl_287 stl_08 stl_294" style="word-spacing:-0.0406em;">losses. Goodwill is not amortized.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.2355em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">At the time of acquisition, goodwill is attributed to the cash-generating units which are expected to benefit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.9855em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.0301em;">from the business combination; however, not to a level lower than the segment level and the level at which  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:15.7355em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">goodwill is monitored as part of the internal financial management. The Management has identified one  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:16.4855em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0353em;">operating segment as being the whole Group to which goodwill is allocated.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:17.9855em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0389em;">The carrying amount of goodwill is tested for impairment together with the other non-current assets of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:18.7355em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0341em;">cash-generating unit to which goodwill has been allocated (being the whole Group) and is impaired to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:19.4855em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0339em;">recoverable amount in the income statement if the carrying amount is higher. Impairment of goodwill is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.2355em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0367em;">recognized as a separate item in the income statement. Goodwill is tested annually for impairment, the first  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.9855em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0347em;">time being by the end of the year of recognition in connection with a business combination.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:22.4855em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">The impairment test of goodwill is based on the quoted price on Nasdaq Copenhagen at the balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:23.2355em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0331em;">date. Therefore the impairment test is taking base in level 1 in accordance with the fair value hierarchy.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:24.7355em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">Impairment of goodwill is not reversed. Impairment of other assets is reversed in so far as the assumptions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:25.4855em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">and estimates on the basis of which the impairment is made have been changed. Impairments are only  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.2355em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">reversed in so far as the new carrying amount of the asset does not exceed the carrying amount of the asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.9855em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">after amortization, had the asset not been impaired.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:10.478em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.2355em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0357em;">On recognition, goodwill represents the excess cost of an acquisition over the fair value of the identifiable net  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.9855em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0326em;">assets of the acquired company. Subsequently, goodwill is measured at cost less accumulated impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:12.7355em;"><span class="stl_287 stl_08 stl_294" style="word-spacing:-0.0406em;">losses. Goodwill is not amortized.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.2355em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">At the time of acquisition, goodwill is attributed to the cash-generating units which are expected to benefit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.9855em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.0301em;">from the business combination; however, not to a level lower than the segment level and the level at which  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:15.7355em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">goodwill is monitored as part of the internal financial management. The Management has identified one  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:16.4855em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0353em;">operating segment as being the whole Group to which goodwill is allocated.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:17.9855em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0389em;">The carrying amount of goodwill is tested for impairment together with the other non-current assets of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:18.7355em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0341em;">cash-generating unit to which goodwill has been allocated (being the whole Group) and is impaired to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:19.4855em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0339em;">recoverable amount in the income statement if the carrying amount is higher. Impairment of goodwill is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.2355em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0367em;">recognized as a separate item in the income statement. Goodwill is tested annually for impairment, the first  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.9855em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0347em;">time being by the end of the year of recognition in connection with a business combination.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:22.4855em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">The impairment test of goodwill is based on the quoted price on Nasdaq Copenhagen at the balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:23.2355em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0331em;">date. Therefore the impairment test is taking base in level 1 in accordance with the fair value hierarchy.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:24.7355em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">Impairment of goodwill is not reversed. Impairment of other assets is reversed in so far as the assumptions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:25.4855em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">and estimates on the basis of which the impairment is made have been changed. Impairments are only  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.2355em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">reversed in so far as the new carrying amount of the asset does not exceed the carrying amount of the asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.9855em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">after amortization, had the asset not been impaired.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:9.965em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0353em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:10.7225em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Acquired technologies, trademarks, and customer relations, primarily  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:11.4725em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">comprising identified technologies, are recognized at fair value at the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:12.2225em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">time of acquisition in connection with a business combination. Any  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:12.9725em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">other intangible asset is recognized at cost.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:14.4725em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">Development and IT projects are recognized as intangible assets if  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:15.2225em;"><span class="stl_287 stl_08 stl_31" style="word-spacing:-0.042em;">they meet certain criteria. These projects must be clearly defined and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:15.9725em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0376em;">identifiable, with proven technical feasibility and sufficient resources  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:16.7225em;"><span class="stl_287 stl_08 stl_150" style="word-spacing:-0.0297em;">available for completion. Additionally, there should be a potential mar-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:17.4725em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0351em;">ket or scope for the project, and the Group must intend to produce,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:18.2225em;"><span class="stl_287 stl_08 stl_309" style="word-spacing:-0.0411em;">market, or use the project. The directly attributable cost should be  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:18.9725em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0377em;">reliably measurable, and there must be certainty that future earnings  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:19.7225em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0349em;">or the net selling price will cover all costs.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:21.215em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0418em;">Useful lifetime and residual value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:21.9725em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">Intangible assets, excl. goodwill, are amortized according to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:22.7225em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">straight-line method over the expected useful lifetime of the indi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:23.4725em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0384em;">vidual asset. The residual value for all intangible assets is assessed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:24.2225em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0363em;">as zero. The amortization of the intangible asset commences upon  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:24.9725em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0375em;">completion of the project or when the asset is ready for use. The basis  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:25.7225em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">of amortization is reduced by impairment losses, if any. The useful  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:26.4725em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">life of the asset may subsequently be changed if the original assump-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:27.2225em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0328em;">tions on which the useful life and any residual value are based have  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:27.9725em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0333em;">changed significantly.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:29.4725em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">The expected useful lifetimes of intangible assets are as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:30.9725em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.034em;">Acquired technologies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8245em;top:30.9725em;"><span class="stl_287 stl_08 stl_866">5</span><span class="stl_287 stl_08 stl_302">-</span><span class="stl_287 stl_08 stl_105" style="word-spacing:-0.0152em;">15 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:31.7225em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">Completed development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8189em;top:31.7225em;"><span class="stl_287 stl_08 stl_866">5</span><span class="stl_287 stl_08 stl_302">-</span><span class="stl_287 stl_08 stl_140" style="word-spacing:-0.0188em;">10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:32.4725em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">Distribution rights, patents, and licenses, etc.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.7689em;top:32.4725em;"><span class="stl_287 stl_08 stl_37" style="word-spacing:-0.0311em;">5-20 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:33.2225em;"><span class="stl_287 stl_08 stl_521" style="word-spacing:-0.0528em;">IT software projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.1158em;top:33.2225em;"><span class="stl_287 stl_08 stl_322" style="word-spacing:-0.046em;">3-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5652em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.3183em;"><span class="stl_438 stl_92 stl_471" style="word-spacing:-0.0432em;">Impairment testing of other intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0727em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">At each reporting date, the Management performs an assessment of whether internal or external indications  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.8227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0359em;">of impairment of the identified intangible assets exist. If there is any indication of impairment, an impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.5727em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0373em;">test is carried out. If an indication of impairment exists, the recoverable amount of the asset is determined,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.3227em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">i.e. the higher of the fair value of the asset, less anticipated costs of disposal and its value-in-use. For assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.0727em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">that are either fully or partially impaired, both their fair value and value-in-use are assessed to verify whether  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.8227em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">the impairment remains and to determine if further impairment, or a reversal of previously recorded impair-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.5727em;"><span class="stl_287 stl_08 stl_412" style="word-spacing:-0.0407em;">ment losses, is necessary.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.0727em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0345em;">Reversals of previously recognized impairment losses are only recorded when there is a change in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.8227em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0367em;">assumptions for the original impairment. This includes changes in expected future cash flows or the discount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.5727em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">rate, in the case of value-in-use, or an increase in fair value, reflecting a genuine improvement of the asset’s  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.3227em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0332em;">recoverable amount, excluding changes solely due to the passage of time.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.8227em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">Development projects in progress, either acquired or internally generated, are tested for impairment mini-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.5727em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">mum on an annual basis and if there is any indication of impairment. For completed development projects, it  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.3227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">is continuously assessed whether there is any indication of impairment.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.8227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">Impairment tests are either carried out by calculating the value in use, by using a discounted cashflow model,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.5727em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0363em;">or by calculating the fair value, depending on the type of intangible asset. If the initial impairment test shows  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.3227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">a calculated amount lower than the carrying value of the asset, both fair value and value in use are calculated,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.0727em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0339em;">and an impairment loss is recognized at the higher amount of either fair value or value in use if both calcu-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.8227em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0381em;">lated values are below the carrying amount of the asset. The impairment assessment, and the possible fol-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.5727em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.0379em;">lowing impairment test, is carried out per individual asset.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:10.478em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.2355em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0357em;">On recognition, goodwill represents the excess cost of an acquisition over the fair value of the identifiable net  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.9855em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0326em;">assets of the acquired company. Subsequently, goodwill is measured at cost less accumulated impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:12.7355em;"><span class="stl_287 stl_08 stl_294" style="word-spacing:-0.0406em;">losses. Goodwill is not amortized.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.2355em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">At the time of acquisition, goodwill is attributed to the cash-generating units which are expected to benefit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.9855em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.0301em;">from the business combination; however, not to a level lower than the segment level and the level at which  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:15.7355em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">goodwill is monitored as part of the internal financial management. The Management has identified one  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:16.4855em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0353em;">operating segment as being the whole Group to which goodwill is allocated.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:17.9855em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0389em;">The carrying amount of goodwill is tested for impairment together with the other non-current assets of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:18.7355em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0341em;">cash-generating unit to which goodwill has been allocated (being the whole Group) and is impaired to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:19.4855em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0339em;">recoverable amount in the income statement if the carrying amount is higher. Impairment of goodwill is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.2355em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0367em;">recognized as a separate item in the income statement. Goodwill is tested annually for impairment, the first  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.9855em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0347em;">time being by the end of the year of recognition in connection with a business combination.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:22.4855em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">The impairment test of goodwill is based on the quoted price on Nasdaq Copenhagen at the balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:23.2355em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0331em;">date. Therefore the impairment test is taking base in level 1 in accordance with the fair value hierarchy.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:24.7355em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">Impairment of goodwill is not reversed. Impairment of other assets is reversed in so far as the assumptions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:25.4855em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">and estimates on the basis of which the impairment is made have been changed. Impairments are only  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.2355em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">reversed in so far as the new carrying amount of the asset does not exceed the carrying amount of the asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.9855em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">after amortization, had the asset not been impaired.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:10.478em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.2355em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0357em;">On recognition, goodwill represents the excess cost of an acquisition over the fair value of the identifiable net  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.9855em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0326em;">assets of the acquired company. Subsequently, goodwill is measured at cost less accumulated impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:12.7355em;"><span class="stl_287 stl_08 stl_294" style="word-spacing:-0.0406em;">losses. Goodwill is not amortized.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.2355em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">At the time of acquisition, goodwill is attributed to the cash-generating units which are expected to benefit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.9855em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.0301em;">from the business combination; however, not to a level lower than the segment level and the level at which  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:15.7355em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">goodwill is monitored as part of the internal financial management. The Management has identified one  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:16.4855em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0353em;">operating segment as being the whole Group to which goodwill is allocated.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:17.9855em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0389em;">The carrying amount of goodwill is tested for impairment together with the other non-current assets of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:18.7355em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0341em;">cash-generating unit to which goodwill has been allocated (being the whole Group) and is impaired to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:19.4855em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0339em;">recoverable amount in the income statement if the carrying amount is higher. Impairment of goodwill is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.2355em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0367em;">recognized as a separate item in the income statement. Goodwill is tested annually for impairment, the first  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.9855em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0347em;">time being by the end of the year of recognition in connection with a business combination.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:22.4855em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">The impairment test of goodwill is based on the quoted price on Nasdaq Copenhagen at the balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:23.2355em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0331em;">date. Therefore the impairment test is taking base in level 1 in accordance with the fair value hierarchy.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:24.7355em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">Impairment of goodwill is not reversed. Impairment of other assets is reversed in so far as the assumptions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:25.4855em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">and estimates on the basis of which the impairment is made have been changed. Impairments are only  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.2355em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">reversed in so far as the new carrying amount of the asset does not exceed the carrying amount of the asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.9855em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">after amortization, had the asset not been impaired.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:10.478em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.2355em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0357em;">On recognition, goodwill represents the excess cost of an acquisition over the fair value of the identifiable net  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.9855em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0326em;">assets of the acquired company. Subsequently, goodwill is measured at cost less accumulated impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:12.7355em;"><span class="stl_287 stl_08 stl_294" style="word-spacing:-0.0406em;">losses. Goodwill is not amortized.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.2355em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">At the time of acquisition, goodwill is attributed to the cash-generating units which are expected to benefit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.9855em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.0301em;">from the business combination; however, not to a level lower than the segment level and the level at which  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:15.7355em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">goodwill is monitored as part of the internal financial management. The Management has identified one  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:16.4855em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0353em;">operating segment as being the whole Group to which goodwill is allocated.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:17.9855em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0389em;">The carrying amount of goodwill is tested for impairment together with the other non-current assets of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:18.7355em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0341em;">cash-generating unit to which goodwill has been allocated (being the whole Group) and is impaired to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:19.4855em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0339em;">recoverable amount in the income statement if the carrying amount is higher. Impairment of goodwill is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.2355em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0367em;">recognized as a separate item in the income statement. Goodwill is tested annually for impairment, the first  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.9855em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0347em;">time being by the end of the year of recognition in connection with a business combination.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:22.4855em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">The impairment test of goodwill is based on the quoted price on Nasdaq Copenhagen at the balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:23.2355em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0331em;">date. Therefore the impairment test is taking base in level 1 in accordance with the fair value hierarchy.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:24.7355em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">Impairment of goodwill is not reversed. Impairment of other assets is reversed in so far as the assumptions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:25.4855em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">and estimates on the basis of which the impairment is made have been changed. Impairments are only  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.2355em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">reversed in so far as the new carrying amount of the asset does not exceed the carrying amount of the asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.9855em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">after amortization, had the asset not been impaired.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:10.478em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.2355em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0357em;">On recognition, goodwill represents the excess cost of an acquisition over the fair value of the identifiable net  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.9855em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0326em;">assets of the acquired company. Subsequently, goodwill is measured at cost less accumulated impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:12.7355em;"><span class="stl_287 stl_08 stl_294" style="word-spacing:-0.0406em;">losses. Goodwill is not amortized.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.2355em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">At the time of acquisition, goodwill is attributed to the cash-generating units which are expected to benefit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.9855em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.0301em;">from the business combination; however, not to a level lower than the segment level and the level at which  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:15.7355em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">goodwill is monitored as part of the internal financial management. The Management has identified one  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:16.4855em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0353em;">operating segment as being the whole Group to which goodwill is allocated.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:17.9855em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0389em;">The carrying amount of goodwill is tested for impairment together with the other non-current assets of the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:18.7355em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0341em;">cash-generating unit to which goodwill has been allocated (being the whole Group) and is impaired to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:19.4855em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0339em;">recoverable amount in the income statement if the carrying amount is higher. Impairment of goodwill is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.2355em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0367em;">recognized as a separate item in the income statement. Goodwill is tested annually for impairment, the first  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.9855em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0347em;">time being by the end of the year of recognition in connection with a business combination.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:22.4855em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">The impairment test of goodwill is based on the quoted price on Nasdaq Copenhagen at the balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:23.2355em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0331em;">date. Therefore the impairment test is taking base in level 1 in accordance with the fair value hierarchy.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:24.7355em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">Impairment of goodwill is not reversed. Impairment of other assets is reversed in so far as the assumptions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:25.4855em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">and estimates on the basis of which the impairment is made have been changed. Impairments are only  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.2355em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">reversed in so far as the new carrying amount of the asset does not exceed the carrying amount of the asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.9855em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">after amortization, had the asset not been impaired.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:9.965em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0353em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:10.7225em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Acquired technologies, trademarks, and customer relations, primarily  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:11.4725em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">comprising identified technologies, are recognized at fair value at the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:12.2225em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">time of acquisition in connection with a business combination. Any  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:12.9725em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">other intangible asset is recognized at cost.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:14.4725em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">Development and IT projects are recognized as intangible assets if  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:15.2225em;"><span class="stl_287 stl_08 stl_31" style="word-spacing:-0.042em;">they meet certain criteria. These projects must be clearly defined and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:15.9725em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0376em;">identifiable, with proven technical feasibility and sufficient resources  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:16.7225em;"><span class="stl_287 stl_08 stl_150" style="word-spacing:-0.0297em;">available for completion. Additionally, there should be a potential mar-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:17.4725em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0351em;">ket or scope for the project, and the Group must intend to produce,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:18.2225em;"><span class="stl_287 stl_08 stl_309" style="word-spacing:-0.0411em;">market, or use the project. The directly attributable cost should be  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:18.9725em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0377em;">reliably measurable, and there must be certainty that future earnings  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:19.7225em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0349em;">or the net selling price will cover all costs.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:21.215em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0418em;">Useful lifetime and residual value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:21.9725em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">Intangible assets, excl. goodwill, are amortized according to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:22.7225em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">straight-line method over the expected useful lifetime of the indi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:23.4725em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0384em;">vidual asset. The residual value for all intangible assets is assessed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:24.2225em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0363em;">as zero. The amortization of the intangible asset commences upon  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:24.9725em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0375em;">completion of the project or when the asset is ready for use. The basis  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:25.7225em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">of amortization is reduced by impairment losses, if any. The useful  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:26.4725em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">life of the asset may subsequently be changed if the original assump-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:27.2225em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0328em;">tions on which the useful life and any residual value are based have  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:27.9725em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0333em;">changed significantly.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:29.4725em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">The expected useful lifetimes of intangible assets are as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:30.9725em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.034em;">Acquired technologies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8245em;top:30.9725em;"><span class="stl_287 stl_08 stl_866">5</span><span class="stl_287 stl_08 stl_302">-</span><span class="stl_287 stl_08 stl_105" style="word-spacing:-0.0152em;">15 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:31.7225em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">Completed development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8189em;top:31.7225em;"><span class="stl_287 stl_08 stl_866">5</span><span class="stl_287 stl_08 stl_302">-</span><span class="stl_287 stl_08 stl_140" style="word-spacing:-0.0188em;">10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:32.4725em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">Distribution rights, patents, and licenses, etc.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.7689em;top:32.4725em;"><span class="stl_287 stl_08 stl_37" style="word-spacing:-0.0311em;">5-20 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:33.2225em;"><span class="stl_287 stl_08 stl_521" style="word-spacing:-0.0528em;">IT software projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.1158em;top:33.2225em;"><span class="stl_287 stl_08 stl_322" style="word-spacing:-0.046em;">3-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5652em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.3183em;"><span class="stl_438 stl_92 stl_471" style="word-spacing:-0.0432em;">Impairment testing of other intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0727em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">At each reporting date, the Management performs an assessment of whether internal or external indications  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.8227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0359em;">of impairment of the identified intangible assets exist. If there is any indication of impairment, an impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.5727em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0373em;">test is carried out. If an indication of impairment exists, the recoverable amount of the asset is determined,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.3227em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">i.e. the higher of the fair value of the asset, less anticipated costs of disposal and its value-in-use. For assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.0727em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">that are either fully or partially impaired, both their fair value and value-in-use are assessed to verify whether  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.8227em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">the impairment remains and to determine if further impairment, or a reversal of previously recorded impair-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.5727em;"><span class="stl_287 stl_08 stl_412" style="word-spacing:-0.0407em;">ment losses, is necessary.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.0727em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0345em;">Reversals of previously recognized impairment losses are only recorded when there is a change in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.8227em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0367em;">assumptions for the original impairment. This includes changes in expected future cash flows or the discount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.5727em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">rate, in the case of value-in-use, or an increase in fair value, reflecting a genuine improvement of the asset’s  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.3227em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0332em;">recoverable amount, excluding changes solely due to the passage of time.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.8227em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">Development projects in progress, either acquired or internally generated, are tested for impairment mini-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.5727em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">mum on an annual basis and if there is any indication of impairment. For completed development projects, it  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.3227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">is continuously assessed whether there is any indication of impairment.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.8227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">Impairment tests are either carried out by calculating the value in use, by using a discounted cashflow model,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.5727em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0363em;">or by calculating the fair value, depending on the type of intangible asset. If the initial impairment test shows  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.3227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">a calculated amount lower than the carrying value of the asset, both fair value and value in use are calculated,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.0727em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0339em;">and an impairment loss is recognized at the higher amount of either fair value or value in use if both calcu-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.8227em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0381em;">lated values are below the carrying amount of the asset. The impairment assessment, and the possible fol-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.5727em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.0379em;">lowing impairment test, is carried out per individual asset.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:10.4781em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:11.2356em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">Land and buildings, plant and machinery, and other plant, fixtures  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:11.9856em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0375em;">and fittings, tools and equipment are measured at cost less accu-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:12.7356em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">mulated depreciation and impairment losses. Cost comprises the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:13.4856em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0381em;">acquisition price and any costs directly attributable to the acquisition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:14.2356em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">until the date when the asset is ready for use. The cost of a total asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:14.9856em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">is divided into separate elements which are depreciated individually  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:15.7356em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">when the useful lives of the individual elements differ.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:17.2312em;"><span class="stl_438 stl_92 stl_207" style="word-spacing:-0.0409em;">Useful lifetime and residual value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:17.9856em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">The basis of depreciation is calculated in consideration of the resi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:18.7356em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0328em;">dual value of the asset and is reduced by impairment losses, if any.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:19.4856em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">The residual value is fixed at the date of acquisition and is subject to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:20.2356em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0336em;">annual review. When the residual value exceeds the carrying amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:20.9856em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0365em;">of the asset, depreciation will no longer take place. In connection with  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:21.7356em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">changes in the depreciation period or the residual value, the effect  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:22.4856em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0324em;">of depreciation is recognized in future as a change in the accounting  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:23.2356em;"><span class="stl_287 stl_08 stl_39">estimate.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:24.7356em;"><span class="stl_287 stl_08 stl_47" style="word-spacing:-0.0399em;">The carrying amount of property, plant, and equipment is assessed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:25.4856em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">on an annual basis to establish whether there is any indication of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:26.2356em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">impairment. When such indication exists, an impairment test is per-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:26.9856em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">formed. An impairment loss is recognized when the carrying amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:27.7356em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">of an asset exceeds the recoverable amount of the asset.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:29.2356em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0337em;">Property, plant, and equipment are depreciated according to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:29.9856em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.0369em;">straight-line method over the expected useful lives of the assets/com-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:30.7356em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0367em;">ponents, as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:32.2356em;"><span class="stl_287 stl_08 stl_146">Buildings  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.9361em;top:32.2356em;"><span class="stl_287 stl_08 stl_97" style="word-spacing:-0.0423em;">10-40 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:32.9856em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0349em;">Building installations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.9405em;top:32.9856em;"><span class="stl_287 stl_08 stl_137" style="word-spacing:-0.018em;">10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:33.7356em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">Plant and machinery  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.4268em;top:33.7356em;"><span class="stl_287 stl_08 stl_502" style="word-spacing:0.0089em;">2-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:34.4856em;"><span class="stl_287 stl_08 stl_309" style="word-spacing:-0.041em;">Other fixtures and equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.6849em;top:34.4856em;"><span class="stl_287 stl_08 stl_322" style="word-spacing:-0.046em;">3-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:35.9856em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">Land is not depreciated.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:37.4856em;"><span class="stl_287 stl_08 stl_176" style="word-spacing:-0.0355em;">Depreciation is recognized in the income statement under production  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:38.2356em;"><span class="stl_287 stl_08 stl_267" style="word-spacing:-0.041em;">costs, selling, and distribution costs, development costs, or manage-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:38.9856em;"><span class="stl_287 stl_08 stl_110" style="word-spacing:-0.0342em;">ment and administrative expenses, as appropriate. See note 2.4.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2256em;"><span class="stl_418 stl_11 stl_360" style="word-spacing:-0.0364em;">3.2 Other intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.9877em;top:10.0175em;"><span class="stl_288 stl_11 stl_178">Acquired  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.5683em;top:10.7675em;"><span class="stl_288 stl_11 stl_475">technologies,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.2614em;top:10.7675em;"><span class="stl_288 stl_11 stl_82">Development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.2164em;top:11.5175em;"><span class="stl_288 stl_11 stl_334">trademarks  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.332em;top:11.5175em;"><span class="stl_288 stl_11 stl_409">Completed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.5777em;top:11.5175em;"><span class="stl_288 stl_11 stl_426" style="word-spacing:-0.0476em;">projects and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.982em;top:12.2675em;"><span class="stl_288 stl_11 stl_93" style="word-spacing:-0.052em;">and cust.</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.649em;top:12.2675em;"><span class="stl_288 stl_11 stl_82">development  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.0426em;top:12.2675em;"><span class="stl_288 stl_11 stl_147" style="word-spacing:-0.0324em;">Other, incl.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.6589em;top:12.2675em;"><span class="stl_288 stl_11 stl_420" style="word-spacing:-0.0509em;">other assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.025em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.0777em;top:13.0175em;"><span class="stl_288 stl_11 stl_525">relations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2383em;top:13.0175em;"><span class="stl_288 stl_11 stl_443">projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.0026em;top:13.0175em;"><span class="stl_288 stl_11 stl_901" style="word-spacing:-0.0577em;">IT software  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.9458em;top:13.0175em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0425em;">in progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.6977em;top:13.0175em;"><span class="stl_288 stl_11 stl_579">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:14.545em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:15.4269em;"><span class="stl_287 stl_08 stl_536" style="word-spacing:-0.0456em;">Cost at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7689em;top:15.4269em;"><span class="stl_287 stl_08 stl_108">923  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2739em;top:15.4269em;"><span class="stl_287 stl_08 stl_338">1,762  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.467em;top:15.4269em;"><span class="stl_287 stl_08 stl_199">282  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.4108em;top:15.4269em;"><span class="stl_287 stl_08 stl_112">350  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.652em;top:15.4269em;"><span class="stl_287 stl_08 stl_811">3,317  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:16.3012em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.3308em;top:16.3012em;"><span class="stl_287 stl_08 stl_356">-7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6389em;top:16.3012em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.3633em;top:16.3012em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:16.3012em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.7008em;top:16.3012em;"><span class="stl_287 stl_08 stl_356">-7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:17.1756em;"><span class="stl_287 stl_08 stl_45" style="word-spacing:-0.033em;">Additions during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6783em;top:17.1756em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6389em;top:17.1756em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.3633em;top:17.1756em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.457em;top:17.1756em;"><span class="stl_287 stl_08 stl_726">267  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.1814em;top:17.1756em;"><span class="stl_287 stl_08 stl_726">267  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:18.05em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">Disposals during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6783em;top:18.05em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6389em;top:18.05em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.5926em;top:18.05em;"><span class="stl_287 stl_08 stl_460">-60  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:18.05em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.2777em;top:18.05em;"><span class="stl_287 stl_08 stl_460">-60  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:18.9244em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.0301em;">Transferred during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6783em;top:18.9244em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.7345em;top:18.9244em;"><span class="stl_287 stl_08 stl_55">246  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.8339em;top:18.9244em;"><span class="stl_287 stl_08 stl_320">52  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.2264em;top:18.9244em;"><span class="stl_287 stl_08 stl_546">-298  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0483em;top:18.9244em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:19.7912em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0426em;">Cost at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.6876em;top:19.7912em;"><span class="stl_288 stl_11 stl_56">916  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9733em;top:19.7912em;"><span class="stl_288 stl_11 stl_475">2,008  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.3808em;top:19.7912em;"><span class="stl_288 stl_11 stl_902">274  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3426em;top:19.7912em;"><span class="stl_288 stl_11 stl_356">319  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.4658em;top:19.7912em;"><span class="stl_288 stl_11 stl_477">3,517  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:21.1375em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.04em;">Amortization and impairment losses at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.5689em;top:21.1375em;"><span class="stl_287 stl_08 stl_204">-547  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.5083em;top:21.1375em;"><span class="stl_287 stl_08 stl_297">-857  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.3033em;top:21.1375em;"><span class="stl_287 stl_08 stl_903">-210  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:21.1375em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.5452em;top:21.1375em;"><span class="stl_287 stl_08 stl_905">-1,614  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:22.0119em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.5095em;top:22.0119em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6389em;top:22.0119em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.1945em;top:22.0119em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:22.0119em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.8795em;top:22.0119em;"><span class="stl_287 stl_08 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:22.8862em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">Disposals during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6783em;top:22.8862em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6389em;top:22.8862em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.8189em;top:22.8862em;"><span class="stl_287 stl_08 stl_155">60  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:22.8862em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5039em;top:22.8862em;"><span class="stl_287 stl_08 stl_155">60  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:23.7606em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">Amortization for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.942em;top:23.7606em;"><span class="stl_287 stl_08 stl_210">-37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.6083em;top:23.7606em;"><span class="stl_287 stl_08 stl_906">-157  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.637em;top:23.7606em;"><span class="stl_287 stl_08 stl_253">-25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:23.7606em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.0001em;top:23.7606em;"><span class="stl_287 stl_08 stl_841">-219  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.6275em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0417em;">Amortization and impairment losses at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.4514em;top:24.6275em;"><span class="stl_288 stl_11 stl_189">-577  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.8976em;top:24.6275em;"><span class="stl_288 stl_11 stl_907">-1,014  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.242em;top:24.6275em;"><span class="stl_288 stl_11 stl_904">-174  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3145em;top:24.6275em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.3051em;top:24.6275em;"><span class="stl_288 stl_11 stl_841">-1,765  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.5018em;"><span class="stl_288 stl_11 stl_97" style="word-spacing:-0.0422em;">Carrying amount at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.6501em;top:25.5018em;"><span class="stl_288 stl_11 stl_126">339  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.6133em;top:25.5018em;"><span class="stl_288 stl_11 stl_579">994  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.3458em;top:25.5018em;"><span class="stl_288 stl_11 stl_25">100  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.342em;top:25.5018em;"><span class="stl_288 stl_11 stl_356">319  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.477em;top:25.5018em;"><span class="stl_288 stl_11 stl_435">1,752  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.25em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.1318em;"><span class="stl_287 stl_08 stl_536" style="word-spacing:-0.0456em;">Cost at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7664em;top:28.1318em;"><span class="stl_287 stl_08 stl_135">929  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2276em;top:28.1318em;"><span class="stl_287 stl_08 stl_331">1,492  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.4676em;top:28.1318em;"><span class="stl_287 stl_08 stl_253">257  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.3783em;top:28.1318em;"><span class="stl_287 stl_08 stl_827">444  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.6864em;top:28.1318em;"><span class="stl_287 stl_08 stl_776">3,122  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:29.0062em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.282em;top:29.0062em;"><span class="stl_287 stl_08 stl_353">-6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.4689em;top:29.0062em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.362em;top:29.0062em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.9914em;top:29.0062em;"><span class="stl_287 stl_08 stl_791">-1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.652em;top:29.0062em;"><span class="stl_287 stl_08 stl_353">-6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:29.8806em;"><span class="stl_287 stl_08 stl_45" style="word-spacing:-0.033em;">Additions during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.677em;top:29.8806em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6376em;top:29.8806em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.362em;top:29.8806em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.4314em;top:29.8806em;"><span class="stl_287 stl_08 stl_274">201  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.1558em;top:29.8806em;"><span class="stl_287 stl_08 stl_274">201  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:30.755em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.0301em;">Transferred during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6764em;top:30.755em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.7558em;top:30.755em;"><span class="stl_287 stl_08 stl_261">269  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.8264em;top:30.755em;"><span class="stl_287 stl_08 stl_189">25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.2364em;top:30.755em;"><span class="stl_287 stl_08 stl_331">-294  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0464em;top:30.755em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:31.6218em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0426em;">Cost at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.6445em;top:31.6218em;"><span class="stl_288 stl_11 stl_112">923  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0758em;top:31.6218em;"><span class="stl_288 stl_11 stl_368">1,762  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.3339em;top:31.6218em;"><span class="stl_288 stl_11 stl_108">282  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.2883em;top:31.6218em;"><span class="stl_288 stl_11 stl_76">350  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.4514em;top:31.6218em;"><span class="stl_288 stl_11 stl_307">3,317  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:32.9681em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.04em;">Amortization and impairment losses at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.5795em;top:32.9681em;"><span class="stl_287 stl_08 stl_593">-286  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4833em;top:32.9681em;"><span class="stl_287 stl_08 stl_674">-604  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.3133em;top:32.9681em;"><span class="stl_287 stl_08 stl_869">-186  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3214em;top:32.9681em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.5176em;top:32.9681em;"><span class="stl_287 stl_08 stl_908">-1,076  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:33.8425em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.5064em;top:33.8425em;"><span class="stl_287 stl_08 stl_25">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.6358em;top:33.8425em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.0001em;top:33.8425em;"><span class="stl_287 stl_08 stl_77">-2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3208em;top:33.8425em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.8764em;top:33.8425em;"><span class="stl_287 stl_08 stl_25">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:34.7168em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">Impairment losses for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.5733em;top:34.7168em;"><span class="stl_287 stl_08 stl_102">-206  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.617em;top:34.7168em;"><span class="stl_287 stl_08 stl_326">-121  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:37.3601em;top:34.7168em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3208em;top:34.7168em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.9426em;top:34.7168em;"><span class="stl_287 stl_08 stl_15">-327  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:35.5912em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">Amortization for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9558em;top:35.5912em;"><span class="stl_287 stl_08 stl_353">-</span><span class="stl_287 stl_08 stl_388">6</span><span class="stl_287 stl_08 stl_388">1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.607em;top:35.5912em;"><span class="stl_287 stl_08 stl_909">-132  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.6308em;top:35.5912em;"><span class="stl_287 stl_08 stl_378">-22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3208em;top:35.5912em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.9908em;top:35.5912em;"><span class="stl_287 stl_08 stl_569">-215  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:36.4581em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0417em;">Amortization and impairment losses at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.437em;top:36.4581em;"><span class="stl_288 stl_11 stl_103">-547  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.3951em;top:36.4581em;"><span class="stl_288 stl_11 stl_117">-857  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1601em;top:36.4581em;"><span class="stl_288 stl_11 stl_370">-210  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.312em;top:36.4581em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.3308em;top:36.4581em;"><span class="stl_288 stl_11 stl_813">-1,614  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:37.3325em;"><span class="stl_288 stl_11 stl_97" style="word-spacing:-0.0422em;">Carrying amount at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.6933em;top:37.3325em;"><span class="stl_288 stl_11 stl_356">376  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.6001em;top:37.3325em;"><span class="stl_288 stl_11 stl_148">905  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.7501em;top:37.3325em;"><span class="stl_288 stl_11 stl_348">72  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.2876em;top:37.3325em;"><span class="stl_288 stl_11 stl_76">350  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.4526em;top:37.3325em;"><span class="stl_288 stl_11 stl_499">1,703  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:9.965em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0353em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:10.7225em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Acquired technologies, trademarks, and customer relations, primarily  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:11.4725em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">comprising identified technologies, are recognized at fair value at the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:12.2225em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">time of acquisition in connection with a business combination. Any  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:12.9725em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">other intangible asset is recognized at cost.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:14.4725em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">Development and IT projects are recognized as intangible assets if  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:15.2225em;"><span class="stl_287 stl_08 stl_31" style="word-spacing:-0.042em;">they meet certain criteria. These projects must be clearly defined and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:15.9725em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0376em;">identifiable, with proven technical feasibility and sufficient resources  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:16.7225em;"><span class="stl_287 stl_08 stl_150" style="word-spacing:-0.0297em;">available for completion. Additionally, there should be a potential mar-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:17.4725em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0351em;">ket or scope for the project, and the Group must intend to produce,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:18.2225em;"><span class="stl_287 stl_08 stl_309" style="word-spacing:-0.0411em;">market, or use the project. The directly attributable cost should be  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:18.9725em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0377em;">reliably measurable, and there must be certainty that future earnings  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:19.7225em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0349em;">or the net selling price will cover all costs.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:21.215em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0418em;">Useful lifetime and residual value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:21.9725em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">Intangible assets, excl. goodwill, are amortized according to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:22.7225em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">straight-line method over the expected useful lifetime of the indi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:23.4725em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0384em;">vidual asset. The residual value for all intangible assets is assessed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:24.2225em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0363em;">as zero. The amortization of the intangible asset commences upon  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:24.9725em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0375em;">completion of the project or when the asset is ready for use. The basis  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:25.7225em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">of amortization is reduced by impairment losses, if any. The useful  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:26.4725em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">life of the asset may subsequently be changed if the original assump-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:27.2225em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0328em;">tions on which the useful life and any residual value are based have  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:27.9725em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0333em;">changed significantly.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:29.4725em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">The expected useful lifetimes of intangible assets are as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:30.9725em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.034em;">Acquired technologies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8245em;top:30.9725em;"><span class="stl_287 stl_08 stl_866">5</span><span class="stl_287 stl_08 stl_302">-</span><span class="stl_287 stl_08 stl_105" style="word-spacing:-0.0152em;">15 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:31.7225em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">Completed development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8189em;top:31.7225em;"><span class="stl_287 stl_08 stl_866">5</span><span class="stl_287 stl_08 stl_302">-</span><span class="stl_287 stl_08 stl_140" style="word-spacing:-0.0188em;">10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:32.4725em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">Distribution rights, patents, and licenses, etc.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.7689em;top:32.4725em;"><span class="stl_287 stl_08 stl_37" style="word-spacing:-0.0311em;">5-20 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:33.2225em;"><span class="stl_287 stl_08 stl_521" style="word-spacing:-0.0528em;">IT software projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.1158em;top:33.2225em;"><span class="stl_287 stl_08 stl_322" style="word-spacing:-0.046em;">3-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:10.4781em;"><span class="stl_288 stl_11 stl_344" style="word-spacing:-0.0424em;">Sensitivity analysis for the impairment test of the GI technologies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.2356em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0379em;">The sensitivity analysis assesses the impact of changes in key assumptions of the result of the impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.9856em;"><span class="stl_287 stl_08 stl_98">test.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:13.4856em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">The ‘relief from royalty’ method estimates the discounted value of an intangible asset determined by the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.2356em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0397em;">expected royalty payments to a third party to be saved by owning the respective asset instead of licensing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.9856em;"><span class="stl_287 stl_08 stl_285" style="word-spacing:-0.0388em;">the respective asset. When applying the ‘relief from royalty’ method in the impairment test for the GI techno-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:15.7356em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">logies, the fair value is measured over the useful lifetime of the individual assets and by applying the main key  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:16.4856em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0357em;">assumptions as revenue, royalty rate, and pre-tax discount rate.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:17.9856em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0361em;">Useful lifetime for GI technologies is 15 years from FDA approval of the first product generation, also corre-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:18.7356em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">sponding to the budgeted period used in the impairment test.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.2356em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0367em;">The sensitivity shown for revenue is the amount of decrease in headroom, when reducing the expected reve-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.9856em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0369em;">nue in all budgeted years by 5 percentage points, everything else kept equal.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:22.4856em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">The sensitivity shown for royalty rate is the amount of decrease in headroom, when reducing the applied roy-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:23.2356em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0401em;">alty rate by 5 percentage points, everything else kept equal.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:24.7356em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">The sensitivity shown for pre-tax discount rate is the amount of decrease in headroom, when increasing the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:25.4856em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">applied pre-tax discount rate by 1 percentage point, everything else kept equal.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.9368em;"><span class="stl_288 stl_11 stl_298" style="word-spacing:-0.0373em;">Key assumptions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5357em;top:26.9368em;"><span class="stl_288 stl_11 stl_245">Description  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.4956em;"><span class="stl_287 stl_08 stl_101">Revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5357em;top:28.4956em;"><span class="stl_287 stl_08 stl_119" style="word-spacing:0.225em;">• Revenue</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:49.883em;top:28.4956em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0365em;">in the budgeted period is based on a combination of expected quantities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:29.2456em;"><span class="stl_287 stl_08 stl_111">(CAGR)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.1607em;top:29.2456em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">sold and the average selling price, together with a 15 years of survival curve for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.1607em;top:29.9956em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0331em;">each technology, commencing upon first FDA approval  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:31.1768em;"><span class="stl_287 stl_08 stl_394" style="word-spacing:-0.0418em;">Royalty rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5357em;top:31.1768em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:0.2085em;">• Based</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:49.177em;top:31.1768em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0395em;">on an expected royalty rate paid to an independent third party to license the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.1607em;top:31.9268em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0353em;">individual technology  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:33.1081em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0365em;">Discounted rates  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5357em;top:33.1081em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:0.2085em;">• Based</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:49.177em;top:33.1081em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0338em;">on 20-year government bonds  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:33.8581em;"><span class="stl_287 stl_08 stl_109" style="word-spacing:-0.0229em;">(net of tax)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5357em;top:33.8581em;"><span class="stl_287 stl_08 stl_375" style="word-spacing:0.2072em;">• Equity</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:49.188em;top:33.8581em;"><span class="stl_287 stl_08 stl_87" style="word-spacing:-0.0058em;">risk premium: 8.3% (8.1%)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5357em;top:34.6081em;"><span class="stl_287 stl_08 stl_119" style="word-spacing:0.225em;">• Premium</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:50.032em;top:34.6081em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0375em;">added to adjust for variability and associated risks of the in-market and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.1607em;top:35.3581em;"><span class="stl_287 stl_08 stl_207" style="word-spacing:-0.0413em;">pipeline products  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5312em;"><span class="stl_288 stl_11 stl_375" style="word-spacing:-0.0429em;">Result of impairment testing of other intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2887em;"><span class="stl_871 stl_651 stl_35" style="word-spacing:-0.0328em;">Result of impairment testing of the GI technologies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0387em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">The impairment test of the GI technologies is covering the assets categories ‘Acquired technologies, trade-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.7887em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">marks and cust. relations’, ‘Completed development projects’ and ‘Development projects and other assets in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.5387em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0328em;">progress’. The impairment test of the GI technologies covers approximately a third of the total other intangi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.2887em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">ble assets for the group.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.7887em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">In accordance with the group accounting policy for impairment testing of other intangible assets, both fair  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.5387em;"><span class="stl_287 stl_08 stl_169" style="word-spacing:-0.0333em;">value and value in use were evaluated as part of the 2024/25 impairment test of the GI technologies. The  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.2887em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0375em;">assessment confirmed that the fair value represents the recoverable amount of the assets. The impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.0387em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0344em;">test concluded that there are no indications for further impairment, nor any basis for reversing the impair-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.7887em;"><span class="stl_287 stl_08 stl_101" style="word-spacing:-0.0246em;">ment loss recognized in 2023/24.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.2887em;"><span class="stl_287 stl_08 stl_18" style="word-spacing:-0.0308em;">In 2023/24, an impairment loss of DKK 327m on Acquired technologies and completed development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.0387em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">was recognised, following the strategic review across our GI endoscopy business. The impairment loss was  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.7887em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">charged to special items, as described in note 2.6.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.2887em;"><span class="stl_871 stl_651 stl_45" style="word-spacing:-0.0331em;">Result of impairment testing of other intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.0387em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0372em;">The impairment test of other intangible assets is covering the remaining part of ‘Development projects and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.7887em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">other assets in progress’ in scope for annual impairment testing.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.2887em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">The impairment tests of other intangible assets, 2024/25, did not result in recognition of impairment losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.0387em;"><span class="stl_287 stl_08 stl_36" style="word-spacing:-0.0185em;">(2023/24: no impairment losses).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.5387em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0377em;">No sensitivity analysis has been made for the impairment test of other intangible assets as the impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:29.2887em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">test shows a clear result of no need for recognition of impairment losses.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2256em;"><span class="stl_418 stl_11 stl_75" style="word-spacing:-0.0294em;">3.2 Other intangible assets (continued)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.3802em;top:10.4899em;"><span class="stl_288 stl_11 stl_161">Cholangio  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.792em;top:10.4899em;"><span class="stl_288 stl_11 stl_361">Colon  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.7558em;top:10.4899em;"><span class="stl_288 stl_11 stl_403">Duodeno  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.5464em;top:10.4899em;"><span class="stl_288 stl_11 stl_643">Gastro  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:12.0412em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:12.9699em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0415em;">Carrying amount, tested technology  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.4252em;top:12.9699em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.8902em;top:12.9699em;"><span class="stl_287 stl_08 stl_595">84  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.587em;top:12.9699em;"><span class="stl_287 stl_08 stl_338">247  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5808em;top:12.9699em;"><span class="stl_287 stl_08 stl_386">207  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:13.8912em;"><span class="stl_287 stl_08 stl_202" style="word-spacing:-0.0156em;">Impairment loss (-) / headroom (+)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.4252em;top:13.8912em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.272em;top:13.8912em;"><span class="stl_287 stl_08 stl_25">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9427em;top:13.8912em;"><span class="stl_287 stl_08 stl_337">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9683em;top:13.8912em;"><span class="stl_287 stl_08 stl_792">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:14.8124em;"><span class="stl_287 stl_08 stl_285" style="word-spacing:-0.0388em;">Carrying amount at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.4245em;top:14.8124em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.8895em;top:14.8124em;"><span class="stl_287 stl_08 stl_595">84  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5864em;top:14.8124em;"><span class="stl_287 stl_08 stl_338">247  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5808em;top:14.8124em;"><span class="stl_287 stl_08 stl_386">207  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:16.2456em;"><span class="stl_871 stl_651 stl_361" style="word-spacing:-0.0369em;">Carrying amount is classified as:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:17.1668em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0373em;">Acquired technologies, trademarks and cust. relations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.4252em;top:17.1668em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.8945em;top:17.1668em;"><span class="stl_287 stl_08 stl_47">66  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5708em;top:17.1668em;"><span class="stl_287 stl_08 stl_59">146  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9233em;top:17.1668em;"><span class="stl_287 stl_08 stl_432">85  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:18.0881em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">Completed development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.4245em;top:18.0881em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9314em;top:18.0881em;"><span class="stl_287 stl_08 stl_364">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5864em;top:18.0881em;"><span class="stl_287 stl_08 stl_323">101  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6745em;top:18.0881em;"><span class="stl_287 stl_08 stl_340">111  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:19.0093em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0397em;">Development projects and other assets in progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.4245em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.4402em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.4558em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9883em;top:19.0093em;"><span class="stl_287 stl_08 stl_340">11  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:20.4349em;"><span class="stl_288 stl_11 stl_510" style="word-spacing:-0.0392em;">Budget period  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:21.3637em;"><span class="stl_287 stl_08 stl_157" style="word-spacing:-0.0195em;">Revenue (CAGR)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.3877em;top:21.3637em;"><span class="stl_287 stl_08 stl_354">19%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4358em;top:21.3637em;"><span class="stl_287 stl_08 stl_875">76%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.3814em;top:21.3637em;"><span class="stl_287 stl_08 stl_155">30%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:22.2849em;"><span class="stl_287 stl_08 stl_394" style="word-spacing:-0.0418em;">Royalty rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.3589em;top:22.2849em;"><span class="stl_287 stl_08 stl_117">20%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3895em;top:22.2849em;"><span class="stl_287 stl_08 stl_199">25%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.3902em;top:22.2849em;"><span class="stl_287 stl_08 stl_117">20%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:23.2062em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0383em;">Pre-tax discount rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.8527em;top:23.2062em;"><span class="stl_287 stl_08 stl_212">14.5%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.947em;top:23.2062em;"><span class="stl_287 stl_08 stl_813">11.9%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.9614em;top:23.2062em;"><span class="stl_287 stl_08 stl_813">11.9%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.777em;top:24.6318em;"><span class="stl_288 stl_11 stl_285" style="word-spacing:-0.0388em;">Sensitivity analysis – impact on headroom</span><sup style="top: -0.2075em;"><span class="stl_295 stl_11 stl_842" style="word-spacing:-0.0665em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.5613em;"><span class="stl_287 stl_08 stl_157" style="word-spacing:-0.0195em;">Revenue (CAGR)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.0464em;top:25.5613em;"><span class="stl_287 stl_08 stl_353">-6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7901em;top:25.5613em;"><span class="stl_287 stl_08 stl_795">-13  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.802em;top:25.5613em;"><span class="stl_287 stl_08 stl_346">-15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.4825em;"><span class="stl_287 stl_08 stl_540" style="word-spacing:-0.0416em;">Royalty rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7126em;top:26.4825em;"><span class="stl_287 stl_08 stl_57">-29  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7433em;top:26.4825em;"><span class="stl_287 stl_08 stl_354">-51  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.772em;top:26.4825em;"><span class="stl_287 stl_08 stl_323">-75  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:27.4038em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0383em;">Pre-tax discount rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.047em;top:27.4038em;"><span class="stl_287 stl_08 stl_353">-6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7945em;top:27.4038em;"><span class="stl_287 stl_08 stl_359">-12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8076em;top:27.4038em;"><span class="stl_287 stl_08 stl_50">-14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.68em;"><span class="stl_911 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.1998em;top:28.6415em;"><span class="stl_235 stl_08 stl_617" style="word-spacing:-0.0521em;">Sensitivity for revenue and royalty rate is based on a 5 percentage points decrease, and pre-tax discount rate is based on a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.1998em;top:29.3915em;"><span class="stl_235 stl_08 stl_641" style="word-spacing:-0.0507em;">1 percentage point increase  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.0494em;top:10.4899em;"><span class="stl_288 stl_11 stl_161">Cholangio  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.4613em;top:10.4899em;"><span class="stl_288 stl_11 stl_361">Colon  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.4251em;top:10.4899em;"><span class="stl_288 stl_11 stl_403">Duodeno  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.2157em;top:10.4899em;"><span class="stl_288 stl_11 stl_643">Gastro  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:12.0412em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:12.9699em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0415em;">Carrying amount, tested technology  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.5663em;top:12.9699em;"><span class="stl_287 stl_08 stl_122">26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.1963em;top:12.9699em;"><span class="stl_287 stl_08 stl_112">254  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.2857em;top:12.9699em;"><span class="stl_287 stl_08 stl_352">416  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2432em;top:12.9699em;"><span class="stl_287 stl_08 stl_378">227  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:13.8912em;"><span class="stl_287 stl_08 stl_202" style="word-spacing:-0.0156em;">Impairment loss (-) / headroom (+)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.3744em;top:13.8912em;"><span class="stl_287 stl_08 stl_307">-26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.0763em;top:13.8912em;"><span class="stl_287 stl_08 stl_315">-162  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0926em;top:13.8912em;"><span class="stl_287 stl_08 stl_906">-139  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6326em;top:13.8912em;"><span class="stl_287 stl_08 stl_251">67  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4469em;top:14.8124em;"><span class="stl_287 stl_08 stl_285" style="word-spacing:-0.0388em;">Carrying amount at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.0932em;top:14.8124em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.5663em;top:14.8124em;"><span class="stl_287 stl_08 stl_78">92  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.2301em;top:14.8124em;"><span class="stl_287 stl_08 stl_227">277  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2419em;top:14.8124em;"><span class="stl_287 stl_08 stl_378">227  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4469em;top:16.2456em;"><span class="stl_871 stl_651 stl_361" style="word-spacing:-0.0369em;">Carrying amount is classified as:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4469em;top:17.1668em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0373em;">Acquired technologies, trademarks and cust. relations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.0932em;top:17.1668em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.5932em;top:17.1668em;"><span class="stl_287 stl_08 stl_485">71  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.2963em;top:17.1668em;"><span class="stl_287 stl_08 stl_790">161  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5976em;top:17.1668em;"><span class="stl_287 stl_08 stl_78">92  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4463em;top:18.0881em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">Completed development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.0926em;top:18.0881em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.5844em;top:18.0881em;"><span class="stl_287 stl_08 stl_63">21  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3063em;top:18.0881em;"><span class="stl_287 stl_08 stl_388">116  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2788em;top:18.0881em;"><span class="stl_287 stl_08 stl_376">128  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4463em;top:19.0093em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0397em;">Development projects and other assets in progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.0926em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.1082em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:67.1238em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9707em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4457em;top:20.4349em;"><span class="stl_288 stl_11 stl_510" style="word-spacing:-0.0392em;">Budget period  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4457em;top:21.3637em;"><span class="stl_287 stl_08 stl_157" style="word-spacing:-0.0195em;">Revenue (CAGR)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.0557em;top:21.3637em;"><span class="stl_287 stl_08 stl_354">19%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.1288em;top:21.3637em;"><span class="stl_287 stl_08 stl_730">61%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0732em;top:21.3637em;"><span class="stl_287 stl_08 stl_217">27%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4457em;top:22.2849em;"><span class="stl_287 stl_08 stl_394" style="word-spacing:-0.0418em;">Royalty rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.0269em;top:22.2849em;"><span class="stl_287 stl_08 stl_117">20%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0576em;top:22.2849em;"><span class="stl_287 stl_08 stl_199">25%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0582em;top:22.2849em;"><span class="stl_287 stl_08 stl_117">20%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4451em;top:23.2062em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0383em;">Pre-tax discount rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.6101em;top:23.2062em;"><span class="stl_287 stl_08 stl_580">14.1%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.5901em;top:23.2062em;"><span class="stl_287 stl_08 stl_874">11.5%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.6044em;top:23.2062em;"><span class="stl_287 stl_08 stl_874">11.5%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4444em;top:24.6318em;"><span class="stl_288 stl_11 stl_285" style="word-spacing:-0.0387em;">Sensitivity analysis – impact on headroom</span><sup style="top: -0.2075em;"><span class="stl_295 stl_11 stl_910" style="word-spacing:-0.0664em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:25.5613em;"><span class="stl_287 stl_08 stl_119">Revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.7269em;top:25.5613em;"><span class="stl_287 stl_08 stl_300">-5  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.4601em;top:25.5613em;"><span class="stl_287 stl_08 stl_50">-14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.4763em;top:25.5613em;"><span class="stl_287 stl_08 stl_912">-16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.4825em;"><span class="stl_287 stl_08 stl_394" style="word-spacing:-0.0418em;">Royalty rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.3919em;top:26.4825em;"><span class="stl_287 stl_08 stl_307">-26  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3713em;top:26.4825em;"><span class="stl_287 stl_08 stl_47">-56  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.3713em;top:26.4825em;"><span class="stl_287 stl_08 stl_434">-80  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.4038em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0383em;">Pre-tax discount rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.7632em;top:27.4038em;"><span class="stl_287 stl_08 stl_356">-7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.4557em;top:27.4038em;"><span class="stl_287 stl_08 stl_346">-15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.4763em;top:27.4038em;"><span class="stl_287 stl_08 stl_912">-16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.68em;"><span class="stl_911 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.869em;top:28.6415em;"><span class="stl_235 stl_08 stl_617" style="word-spacing:-0.0521em;">Sensitivity for revenue and royalty rate is based on a 5 percentage points decrease, and pre-tax discount rate is based on a  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.869em;top:29.3915em;"><span class="stl_235 stl_08 stl_420" style="word-spacing:-0.0507em;">1 percentage point increase  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5652em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.3183em;"><span class="stl_438 stl_92 stl_471" style="word-spacing:-0.0432em;">Impairment testing of other intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0727em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">At each reporting date, the Management performs an assessment of whether internal or external indications  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.8227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0359em;">of impairment of the identified intangible assets exist. If there is any indication of impairment, an impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.5727em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0373em;">test is carried out. If an indication of impairment exists, the recoverable amount of the asset is determined,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.3227em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">i.e. the higher of the fair value of the asset, less anticipated costs of disposal and its value-in-use. For assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.0727em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">that are either fully or partially impaired, both their fair value and value-in-use are assessed to verify whether  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.8227em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">the impairment remains and to determine if further impairment, or a reversal of previously recorded impair-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.5727em;"><span class="stl_287 stl_08 stl_412" style="word-spacing:-0.0407em;">ment losses, is necessary.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.0727em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0345em;">Reversals of previously recognized impairment losses are only recorded when there is a change in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.8227em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0367em;">assumptions for the original impairment. This includes changes in expected future cash flows or the discount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.5727em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">rate, in the case of value-in-use, or an increase in fair value, reflecting a genuine improvement of the asset’s  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.3227em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0332em;">recoverable amount, excluding changes solely due to the passage of time.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.8227em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">Development projects in progress, either acquired or internally generated, are tested for impairment mini-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.5727em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">mum on an annual basis and if there is any indication of impairment. For completed development projects, it  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.3227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">is continuously assessed whether there is any indication of impairment.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.8227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">Impairment tests are either carried out by calculating the value in use, by using a discounted cashflow model,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.5727em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0363em;">or by calculating the fair value, depending on the type of intangible asset. If the initial impairment test shows  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.3227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">a calculated amount lower than the carrying value of the asset, both fair value and value in use are calculated,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.0727em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0339em;">and an impairment loss is recognized at the higher amount of either fair value or value in use if both calcu-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.8227em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0381em;">lated values are below the carrying amount of the asset. The impairment assessment, and the possible fol-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.5727em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.0379em;">lowing impairment test, is carried out per individual asset.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:10.579em;"><span class="stl_288 stl_11 stl_294" style="word-spacing:-0.0405em;">! Material accounting estimates and judgement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:11.3321em;"><span class="stl_438 stl_92 stl_437" style="word-spacing:-0.0435em;">Impairment test of other intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:12.0865em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">The Management assess the risk of impairment of the Ambu Group’s intangible assets. This requires judg-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:12.8365em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0381em;">ment in relation to the underlying assumptions of the future expected cash flows, of the individual assets, to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:13.5865em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0344em;">be applied in the Group’s impairment model. An impairment test is performed at least once a year for devel-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:14.3365em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0376em;">opment projects in progress. The impairment test is for each development project in progress determined  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:15.0865em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">on the basis of certain key assumptions, i.e. payback time, net present value, and actual development costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:15.8365em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0357em;">realised compared to the business case.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:17.3365em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0353em;">For acquired and completed development projects related to the GI technologies, the impairment test is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:18.0865em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0357em;">conducted by use of the ‘relief from royalty’ method as valuation model for determining the fair value. This is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:18.8365em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">consistent with the valuation method applied when the technologies were acquired.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:20.3365em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0359em;">The fair value hierarchy, by use of the ‘relief from royalty’ method is level 3, as unobservable inputs are used  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:21.0865em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">to measure the fair value to the extent that relevant observable inputs are not available, which include any  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:21.8365em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0341em;">information about market participant assumptions that is reasonably available.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:23.3365em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">The recoverable amount of each identified intangible asset related to the GI technologies is determined on  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:24.0865em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0367em;">the basis of certain key assumptions, i.e. expected revenue, royalty rate, and discount rate, etc. The cash flow  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:24.8365em;"><span class="stl_287 stl_08 stl_396" style="word-spacing:-0.0403em;">projections for the individual assets, applied in the short-, mid-, and long-term perspective, reflects Man-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:25.5865em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">agement’s best estimate, including Group-strategic initiatives, local initiatives, past experience, and external  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.3365em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">sources of information, where possible and relevant for the individual assets.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:9.965em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0353em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:10.7225em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Acquired technologies, trademarks, and customer relations, primarily  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:11.4725em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">comprising identified technologies, are recognized at fair value at the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:12.2225em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">time of acquisition in connection with a business combination. Any  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:12.9725em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">other intangible asset is recognized at cost.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:14.4725em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">Development and IT projects are recognized as intangible assets if  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:15.2225em;"><span class="stl_287 stl_08 stl_31" style="word-spacing:-0.042em;">they meet certain criteria. These projects must be clearly defined and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:15.9725em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0376em;">identifiable, with proven technical feasibility and sufficient resources  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:16.7225em;"><span class="stl_287 stl_08 stl_150" style="word-spacing:-0.0297em;">available for completion. Additionally, there should be a potential mar-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:17.4725em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0351em;">ket or scope for the project, and the Group must intend to produce,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:18.2225em;"><span class="stl_287 stl_08 stl_309" style="word-spacing:-0.0411em;">market, or use the project. The directly attributable cost should be  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:18.9725em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0377em;">reliably measurable, and there must be certainty that future earnings  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:19.7225em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0349em;">or the net selling price will cover all costs.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:21.215em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0418em;">Useful lifetime and residual value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:21.9725em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">Intangible assets, excl. goodwill, are amortized according to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:22.7225em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">straight-line method over the expected useful lifetime of the indi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:23.4725em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0384em;">vidual asset. The residual value for all intangible assets is assessed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:24.2225em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0363em;">as zero. The amortization of the intangible asset commences upon  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:24.9725em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0375em;">completion of the project or when the asset is ready for use. The basis  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:25.7225em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">of amortization is reduced by impairment losses, if any. The useful  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:26.4725em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">life of the asset may subsequently be changed if the original assump-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:27.2225em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0328em;">tions on which the useful life and any residual value are based have  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:27.9725em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0333em;">changed significantly.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:29.4725em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">The expected useful lifetimes of intangible assets are as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:30.9725em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.034em;">Acquired technologies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8245em;top:30.9725em;"><span class="stl_287 stl_08 stl_866">5</span><span class="stl_287 stl_08 stl_302">-</span><span class="stl_287 stl_08 stl_105" style="word-spacing:-0.0152em;">15 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:31.7225em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.039em;">Completed development projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8189em;top:31.7225em;"><span class="stl_287 stl_08 stl_866">5</span><span class="stl_287 stl_08 stl_302">-</span><span class="stl_287 stl_08 stl_140" style="word-spacing:-0.0188em;">10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:32.4725em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">Distribution rights, patents, and licenses, etc.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.7689em;top:32.4725em;"><span class="stl_287 stl_08 stl_37" style="word-spacing:-0.0311em;">5-20 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0214em;top:33.2225em;"><span class="stl_287 stl_08 stl_521" style="word-spacing:-0.0528em;">IT software projects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.1158em;top:33.2225em;"><span class="stl_287 stl_08 stl_322" style="word-spacing:-0.046em;">3-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5652em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.3183em;"><span class="stl_438 stl_92 stl_471" style="word-spacing:-0.0432em;">Impairment testing of other intangible assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0727em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">At each reporting date, the Management performs an assessment of whether internal or external indications  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.8227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0359em;">of impairment of the identified intangible assets exist. If there is any indication of impairment, an impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.5727em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0373em;">test is carried out. If an indication of impairment exists, the recoverable amount of the asset is determined,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.3227em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">i.e. the higher of the fair value of the asset, less anticipated costs of disposal and its value-in-use. For assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.0727em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">that are either fully or partially impaired, both their fair value and value-in-use are assessed to verify whether  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.8227em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">the impairment remains and to determine if further impairment, or a reversal of previously recorded impair-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.5727em;"><span class="stl_287 stl_08 stl_412" style="word-spacing:-0.0407em;">ment losses, is necessary.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.0727em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0345em;">Reversals of previously recognized impairment losses are only recorded when there is a change in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.8227em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0367em;">assumptions for the original impairment. This includes changes in expected future cash flows or the discount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.5727em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">rate, in the case of value-in-use, or an increase in fair value, reflecting a genuine improvement of the asset’s  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.3227em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0332em;">recoverable amount, excluding changes solely due to the passage of time.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.8227em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">Development projects in progress, either acquired or internally generated, are tested for impairment mini-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.5727em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">mum on an annual basis and if there is any indication of impairment. For completed development projects, it  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.3227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">is continuously assessed whether there is any indication of impairment.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.8227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">Impairment tests are either carried out by calculating the value in use, by using a discounted cashflow model,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.5727em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0363em;">or by calculating the fair value, depending on the type of intangible asset. If the initial impairment test shows  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.3227em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0361em;">a calculated amount lower than the carrying value of the asset, both fair value and value in use are calculated,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.0727em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0339em;">and an impairment loss is recognized at the higher amount of either fair value or value in use if both calcu-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.8227em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0381em;">lated values are below the carrying amount of the asset. The impairment assessment, and the possible fol-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:28.5727em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.0379em;">lowing impairment test, is carried out per individual asset.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2258em;"><span class="stl_418 stl_11 stl_37" style="word-spacing:-0.0311em;">3.3 Property, plant, and equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.002em;top:10.4899em;"><span class="stl_288 stl_11 stl_404" style="word-spacing:1.127em;">Other Property,</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:40.877em;top:10.4899em;"><span class="stl_288 stl_11 stl_161">plant  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.5127em;top:11.2399em;"><span class="stl_288 stl_11 stl_528" style="word-spacing:-0.0444em;">Land and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.1289em;top:11.2399em;"><span class="stl_288 stl_11 stl_100" style="word-spacing:-0.0343em;">Plant and</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.934em;top:11.2399em;"><span class="stl_288 stl_11 stl_271" style="word-spacing:-0.0372em;">and equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.019em;top:11.2399em;"><span class="stl_288 stl_11 stl_631" style="word-spacing:-0.0531em;">fixtures and</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.9974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.402em;top:11.9899em;"><span class="stl_288 stl_11 stl_74">buildings  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.7695em;top:11.9899em;"><span class="stl_288 stl_11 stl_522">machinery  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.3877em;top:11.9899em;"><span class="stl_288 stl_11 stl_361">equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:38.9452em;top:11.9899em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0425em;">in progress  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.697em;top:11.9899em;"><span class="stl_288 stl_11 stl_579">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.5174em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.3756em;"><span class="stl_287 stl_08 stl_536" style="word-spacing:-0.0456em;">Cost at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.3058em;top:14.3756em;"><span class="stl_287 stl_08 stl_657">291  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0102em;top:14.3756em;"><span class="stl_287 stl_08 stl_45">583  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.7458em;top:14.3756em;"><span class="stl_287 stl_08 stl_208">265  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7877em;top:14.3756em;"><span class="stl_287 stl_08 stl_55">82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.6339em;top:14.3756em;"><span class="stl_287 stl_08 stl_393">1,221  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.2262em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.5483em;top:15.2262em;"><span class="stl_287 stl_08 stl_857">-17  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.1745em;top:15.2262em;"><span class="stl_287 stl_08 stl_47">-35  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.2589em;top:15.2262em;"><span class="stl_287 stl_08 stl_353">-6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.942em;top:15.2262em;"><span class="stl_287 stl_08 stl_93">-3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.3283em;top:15.2262em;"><span class="stl_287 stl_08 stl_353">-</span><span class="stl_287 stl_08 stl_388">6</span><span class="stl_287 stl_08 stl_388">1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.0768em;"><span class="stl_287 stl_08 stl_45" style="word-spacing:-0.033em;">Additions during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.2052em;top:16.0768em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.9295em;top:16.0768em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.6539em;top:16.0768em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.5145em;top:16.0768em;"><span class="stl_287 stl_08 stl_854">117  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.2389em;top:16.0768em;"><span class="stl_287 stl_08 stl_854">117  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.9274em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">Disposals during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.8739em;top:16.9274em;"><span class="stl_287 stl_08 stl_791">-1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2002em;top:16.9274em;"><span class="stl_287 stl_08 stl_378">-22  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.9877em;top:16.9274em;"><span class="stl_287 stl_08 stl_50">-14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3233em;top:16.9274em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.3114em;top:16.9274em;"><span class="stl_287 stl_08 stl_210">-37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.7781em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.0301em;">Transferred during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.0364em;top:17.7781em;"><span class="stl_287 stl_08 stl_25">9</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.3933em;top:17.7781em;"><span class="stl_287 stl_08 stl_55">82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1595em;top:17.7781em;"><span class="stl_287 stl_08 stl_369">17  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.2664em;top:17.7781em;"><span class="stl_287 stl_08 stl_371">-108  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.0477em;top:17.7781em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.6212em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0426em;">Cost at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.1783em;top:18.6212em;"><span class="stl_288 stl_11 stl_108">282  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.8933em;top:18.6212em;"><span class="stl_288 stl_11 stl_267">608  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6352em;top:18.6212em;"><span class="stl_288 stl_11 stl_189">262  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7039em;top:18.6212em;"><span class="stl_288 stl_11 stl_33">88  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.4114em;top:18.6212em;"><span class="stl_288 stl_11 stl_103">1,240  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.9199em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.0371em;">Depreciation and impairment losses at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.2245em;top:19.9199em;"><span class="stl_287 stl_08 stl_843">-114  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.8158em;top:19.9199em;"><span class="stl_287 stl_08 stl_157">-387  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6139em;top:19.9199em;"><span class="stl_287 stl_08 stl_913">-138  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:19.9199em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.9077em;top:19.9199em;"><span class="stl_287 stl_08 stl_432">-639  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7802em;top:20.7705em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.037em;top:20.7705em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.3945em;top:20.7705em;"><span class="stl_287 stl_08 stl_328">23  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.4858em;top:20.7705em;"><span class="stl_287 stl_08 stl_25">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3239em;top:20.7705em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5027em;top:20.7705em;"><span class="stl_287 stl_08 stl_297">34  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.6212em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">Disposals during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.2052em;top:21.6212em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.3945em;top:21.6212em;"><span class="stl_287 stl_08 stl_189">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1458em;top:21.6212em;"><span class="stl_287 stl_08 stl_326">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3233em;top:21.6212em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.5045em;top:21.6212em;"><span class="stl_287 stl_08 stl_148">35  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:22.4718em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">Impairment losses for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.2045em;top:22.4718em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.9289em;top:22.4718em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.6533em;top:22.4718em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3227em;top:22.4718em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.047em;top:22.4718em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:23.3224em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0336em;">Depreciation for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.8139em;top:23.3224em;"><span class="stl_287 stl_08 stl_303">-8  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.1839em;top:23.3224em;"><span class="stl_287 stl_08 stl_33">-47  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.9339em;top:23.3224em;"><span class="stl_287 stl_08 stl_77">-27  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3227em;top:23.3224em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.2889em;top:23.3224em;"><span class="stl_287 stl_08 stl_433">-82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:24.1655em;"><span class="stl_288 stl_11 stl_510" style="word-spacing:-0.0391em;">Depreciation and impairment losses at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0827em;top:24.1655em;"><span class="stl_288 stl_11 stl_791">-115  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6852em;top:24.1655em;"><span class="stl_288 stl_11 stl_487">-391  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4764em;top:24.1655em;"><span class="stl_288 stl_11 stl_812">-146  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3133em;top:24.1655em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.7827em;top:24.1655em;"><span class="stl_288 stl_11 stl_404">-652  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:25.0162em;"><span class="stl_288 stl_11 stl_471" style="word-spacing:-0.0432em;">Carrying amount at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.2377em;top:25.0162em;"><span class="stl_288 stl_11 stl_825">167  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9552em;top:25.0162em;"><span class="stl_288 stl_11 stl_41">217  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.7039em;top:25.0162em;"><span class="stl_288 stl_11 stl_914">116  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7027em;top:25.0162em;"><span class="stl_288 stl_11 stl_33">88  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.0183em;top:25.0162em;"><span class="stl_288 stl_11 stl_137">588  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:26.7406em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:27.5987em;"><span class="stl_287 stl_08 stl_536" style="word-spacing:-0.0456em;">Cost at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.3164em;top:27.5987em;"><span class="stl_287 stl_08 stl_307">287  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0295em;top:27.5987em;"><span class="stl_287 stl_08 stl_657">537  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.7445em;top:27.5987em;"><span class="stl_287 stl_08 stl_126">285  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7945em;top:27.5987em;"><span class="stl_287 stl_08 stl_77">79  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.7008em;top:27.5987em;"><span class="stl_287 stl_08 stl_327">1,188  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:28.4493em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.0358em;top:28.4493em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.7602em;top:28.4493em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.9864em;top:28.4493em;"><span class="stl_287 stl_08 stl_795">-13  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.9914em;top:28.4493em;"><span class="stl_287 stl_08 stl_791">-1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.6495em;top:28.4493em;"><span class="stl_287 stl_08 stl_781">-4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:29.2999em;"><span class="stl_287 stl_08 stl_45" style="word-spacing:-0.033em;">Additions during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.2045em;top:29.2999em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.7602em;top:29.2999em;"><span class="stl_287 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.6533em;top:29.2999em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7777em;top:29.2999em;"><span class="stl_287 stl_08 stl_161">86  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.4989em;top:29.2999em;"><span class="stl_287 stl_08 stl_404">88  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:30.1506em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">Disposals during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.8439em;top:30.1506em;"><span class="stl_287 stl_08 stl_77">-2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.1995em;top:30.1506em;"><span class="stl_287 stl_08 stl_57">-29  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.927em;top:30.1506em;"><span class="stl_287 stl_08 stl_227">-20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3227em;top:30.1506em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.3327em;top:30.1506em;"><span class="stl_287 stl_08 stl_354">-51  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:31.0012em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.0301em;">Transferred during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.0352em;top:31.0012em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.3839em;top:31.0012em;"><span class="stl_287 stl_08 stl_155">68  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1483em;top:31.0012em;"><span class="stl_287 stl_08 stl_352">13  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.5645em;top:31.0012em;"><span class="stl_287 stl_08 stl_433">-82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:47.047em;top:31.0012em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:31.8443em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0426em;">Cost at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.1852em;top:31.8443em;"><span class="stl_288 stl_11 stl_189">291  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.8958em;top:31.8443em;"><span class="stl_288 stl_11 stl_76">583  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.622em;top:31.8443em;"><span class="stl_288 stl_11 stl_112">265  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7052em;top:31.8443em;"><span class="stl_288 stl_11 stl_108">82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.4327em;top:31.8443em;"><span class="stl_288 stl_11 stl_378">1,221  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:33.1431em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.0371em;">Depreciation and impairment losses at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.227em;top:33.1431em;"><span class="stl_287 stl_08 stl_915">-112  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.802em;top:33.1431em;"><span class="stl_287 stl_08 stl_155">-360  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.6245em;top:33.1431em;"><span class="stl_287 stl_08 stl_909">-132  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3227em;top:33.1431em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.8939em;top:33.1431em;"><span class="stl_287 stl_08 stl_674">-604  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:33.9937em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.2045em;top:33.9937em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.5689em;top:33.9937em;"><span class="stl_287 stl_08 stl_77">-2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.4845em;top:33.9937em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3227em;top:33.9937em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.8783em;top:33.9937em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:34.8443em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">Disposals during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.0358em;top:34.8443em;"><span class="stl_287 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.3933em;top:34.8443em;"><span class="stl_287 stl_08 stl_328">23  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.1445em;top:34.8443em;"><span class="stl_287 stl_08 stl_364">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3227em;top:34.8443em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.4914em;top:34.8443em;"><span class="stl_287 stl_08 stl_523">43  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:35.6949em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">Impairment losses for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.2045em;top:35.6949em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.5452em;top:35.6949em;"><span class="stl_287 stl_08 stl_300">-5  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:36.322em;top:35.6949em;"><span class="stl_287 stl_08 stl_791">-1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3227em;top:35.6949em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.652em;top:35.6949em;"><span class="stl_287 stl_08 stl_353">-6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:36.5456em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0336em;">Depreciation for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.807em;top:36.5456em;"><span class="stl_287 stl_08 stl_781">-4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.1445em;top:36.5456em;"><span class="stl_287 stl_08 stl_787">-43  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.9333em;top:36.5456em;"><span class="stl_287 stl_08 stl_77">-28  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3227em;top:36.5456em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.3458em;top:36.5456em;"><span class="stl_287 stl_08 stl_323">-75  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:37.3887em;"><span class="stl_288 stl_11 stl_510" style="word-spacing:-0.0391em;">Depreciation and impairment losses at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.0845em;top:37.3887em;"><span class="stl_288 stl_11 stl_577">-114  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6852em;top:37.3887em;"><span class="stl_288 stl_11 stl_349">-387  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4814em;top:37.3887em;"><span class="stl_288 stl_11 stl_332">-138  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:42.3145em;top:37.3887em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:45.7814em;top:37.3887em;"><span class="stl_288 stl_11 stl_334">-639  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:38.2393em;"><span class="stl_288 stl_11 stl_471" style="word-spacing:-0.0432em;">Carrying amount at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.2302em;top:38.2393em;"><span class="stl_288 stl_11 stl_813">177  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.9427em;top:38.2393em;"><span class="stl_288 stl_11 stl_230">196  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.667em;top:38.2393em;"><span class="stl_288 stl_11 stl_230">127  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7052em;top:38.2393em;"><span class="stl_288 stl_11 stl_108">82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:46.0208em;top:38.2393em;"><span class="stl_288 stl_11 stl_208">582  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:10.4781em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:11.2356em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">Land and buildings, plant and machinery, and other plant, fixtures  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:11.9856em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0375em;">and fittings, tools and equipment are measured at cost less accu-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:12.7356em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">mulated depreciation and impairment losses. Cost comprises the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:13.4856em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0381em;">acquisition price and any costs directly attributable to the acquisition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:14.2356em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">until the date when the asset is ready for use. The cost of a total asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:14.9856em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">is divided into separate elements which are depreciated individually  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:15.7356em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">when the useful lives of the individual elements differ.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:17.2312em;"><span class="stl_438 stl_92 stl_207" style="word-spacing:-0.0409em;">Useful lifetime and residual value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:17.9856em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">The basis of depreciation is calculated in consideration of the resi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:18.7356em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0328em;">dual value of the asset and is reduced by impairment losses, if any.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:19.4856em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">The residual value is fixed at the date of acquisition and is subject to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:20.2356em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0336em;">annual review. When the residual value exceeds the carrying amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:20.9856em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0365em;">of the asset, depreciation will no longer take place. In connection with  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:21.7356em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">changes in the depreciation period or the residual value, the effect  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:22.4856em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0324em;">of depreciation is recognized in future as a change in the accounting  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:23.2356em;"><span class="stl_287 stl_08 stl_39">estimate.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:24.7356em;"><span class="stl_287 stl_08 stl_47" style="word-spacing:-0.0399em;">The carrying amount of property, plant, and equipment is assessed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:25.4856em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">on an annual basis to establish whether there is any indication of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:26.2356em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">impairment. When such indication exists, an impairment test is per-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:26.9856em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">formed. An impairment loss is recognized when the carrying amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:27.7356em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">of an asset exceeds the recoverable amount of the asset.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:29.2356em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0337em;">Property, plant, and equipment are depreciated according to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:29.9856em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.0369em;">straight-line method over the expected useful lives of the assets/com-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:30.7356em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0367em;">ponents, as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:32.2356em;"><span class="stl_287 stl_08 stl_146">Buildings  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.9361em;top:32.2356em;"><span class="stl_287 stl_08 stl_97" style="word-spacing:-0.0423em;">10-40 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:32.9856em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0349em;">Building installations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.9405em;top:32.9856em;"><span class="stl_287 stl_08 stl_137" style="word-spacing:-0.018em;">10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:33.7356em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">Plant and machinery  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.4268em;top:33.7356em;"><span class="stl_287 stl_08 stl_502" style="word-spacing:0.0089em;">2-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:34.4856em;"><span class="stl_287 stl_08 stl_309" style="word-spacing:-0.041em;">Other fixtures and equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.6849em;top:34.4856em;"><span class="stl_287 stl_08 stl_322" style="word-spacing:-0.046em;">3-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:35.9856em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">Land is not depreciated.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:37.4856em;"><span class="stl_287 stl_08 stl_176" style="word-spacing:-0.0355em;">Depreciation is recognized in the income statement under production  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:38.2356em;"><span class="stl_287 stl_08 stl_267" style="word-spacing:-0.041em;">costs, selling, and distribution costs, development costs, or manage-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:38.9856em;"><span class="stl_287 stl_08 stl_110" style="word-spacing:-0.0342em;">ment and administrative expenses, as appropriate. See note 2.4.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:10.4781em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:11.2356em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">Land and buildings, plant and machinery, and other plant, fixtures  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:11.9856em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0375em;">and fittings, tools and equipment are measured at cost less accu-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:12.7356em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">mulated depreciation and impairment losses. Cost comprises the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:13.4856em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0381em;">acquisition price and any costs directly attributable to the acquisition  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:14.2356em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">until the date when the asset is ready for use. The cost of a total asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:14.9856em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">is divided into separate elements which are depreciated individually  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:15.7356em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">when the useful lives of the individual elements differ.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:17.2312em;"><span class="stl_438 stl_92 stl_207" style="word-spacing:-0.0409em;">Useful lifetime and residual value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:17.9856em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">The basis of depreciation is calculated in consideration of the resi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:18.7356em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0328em;">dual value of the asset and is reduced by impairment losses, if any.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:19.4856em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">The residual value is fixed at the date of acquisition and is subject to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:20.2356em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0336em;">annual review. When the residual value exceeds the carrying amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:20.9856em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0365em;">of the asset, depreciation will no longer take place. In connection with  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:21.7356em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">changes in the depreciation period or the residual value, the effect  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:22.4856em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0324em;">of depreciation is recognized in future as a change in the accounting  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:23.2356em;"><span class="stl_287 stl_08 stl_39">estimate.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:24.7356em;"><span class="stl_287 stl_08 stl_47" style="word-spacing:-0.0399em;">The carrying amount of property, plant, and equipment is assessed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:25.4856em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">on an annual basis to establish whether there is any indication of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:26.2356em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">impairment. When such indication exists, an impairment test is per-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:26.9856em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">formed. An impairment loss is recognized when the carrying amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:27.7356em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">of an asset exceeds the recoverable amount of the asset.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:29.2356em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0337em;">Property, plant, and equipment are depreciated according to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:29.9856em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.0369em;">straight-line method over the expected useful lives of the assets/com-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:30.7356em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0367em;">ponents, as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:32.2356em;"><span class="stl_287 stl_08 stl_146">Buildings  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.9361em;top:32.2356em;"><span class="stl_287 stl_08 stl_97" style="word-spacing:-0.0423em;">10-40 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:32.9856em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0349em;">Building installations  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.9405em;top:32.9856em;"><span class="stl_287 stl_08 stl_137" style="word-spacing:-0.018em;">10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:33.7356em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">Plant and machinery  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.4268em;top:33.7356em;"><span class="stl_287 stl_08 stl_502" style="word-spacing:0.0089em;">2-10 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:34.4856em;"><span class="stl_287 stl_08 stl_309" style="word-spacing:-0.041em;">Other fixtures and equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.6849em;top:34.4856em;"><span class="stl_287 stl_08 stl_322" style="word-spacing:-0.046em;">3-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:35.9856em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">Land is not depreciated.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:37.4856em;"><span class="stl_287 stl_08 stl_176" style="word-spacing:-0.0355em;">Depreciation is recognized in the income statement under production  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:38.2356em;"><span class="stl_287 stl_08 stl_267" style="word-spacing:-0.041em;">costs, selling, and distribution costs, development costs, or manage-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0236em;top:38.9856em;"><span class="stl_287 stl_08 stl_110" style="word-spacing:-0.0342em;">ment and administrative expenses, as appropriate. See note 2.4.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2256em;"><span class="stl_418 stl_11 stl_149" style="word-spacing:-0.0337em;">3.4 Leases  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.5802em;top:10.4899em;"><span class="stl_288 stl_11 stl_283">30.09.25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.8289em;top:10.4899em;"><span class="stl_288 stl_11 stl_219">30.09.24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0487em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.034em;">Land and buildings  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3308em;top:12.0487em;"><span class="stl_287 stl_08 stl_320">497  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6389em;top:12.0487em;"><span class="stl_287 stl_08 stl_52">516  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.9699em;"><span class="stl_287 stl_08 stl_412" style="word-spacing:-0.0408em;">Other plant, fixtures and fittings, tools and equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6914em;top:12.9699em;"><span class="stl_287 stl_08 stl_320">42  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9352em;top:12.9699em;"><span class="stl_287 stl_08 stl_32">29  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.8912em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0336em;">Right-of-use assets in progress</span><sup style="top: -0.208em;"><span class="stl_667 stl_08 stl_901" style="word-spacing:-0.0577em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0523em;top:13.8913em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.473em;top:13.8913em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7792em;top:14.8051em;"><span class="stl_288 stl_11 stl_322" style="word-spacing:-0.0461em;">Carrying amount of lease assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1761em;top:14.8051em;"><span class="stl_288 stl_11 stl_433">544  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.428em;top:14.8051em;"><span class="stl_288 stl_11 stl_404">545  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7792em;top:16.2457em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.0379em;">Additions on lease assets during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6761em;top:16.2457em;"><span class="stl_287 stl_08 stl_155">68  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9298em;top:16.2457em;"><span class="stl_287 stl_08 stl_76">92  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:17.9782em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.5792em;top:17.9707em;"><span class="stl_288 stl_11 stl_283">30.09.25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.828em;top:17.9707em;"><span class="stl_288 stl_11 stl_219">30.09.24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:19.5219em;"><span class="stl_288 stl_11 stl_285" style="word-spacing:-0.0387em;">Lease liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:20.4507em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">Less than 1 year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6842em;top:20.4507em;"><span class="stl_287 stl_08 stl_55">82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9748em;top:20.4507em;"><span class="stl_287 stl_08 stl_367">74  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7792em;top:21.3719em;"><span class="stl_287 stl_08 stl_31" style="word-spacing:-0.042em;">Between 1 and 5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3148em;top:21.3719em;"><span class="stl_287 stl_08 stl_43">245  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5636em;top:21.3719em;"><span class="stl_287 stl_08 stl_126">285  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7792em;top:22.2932em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">More than 5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3898em;top:22.2932em;"><span class="stl_287 stl_08 stl_914">417  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.548em;top:22.2932em;"><span class="stl_287 stl_08 stl_47">308  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:23.2069em;"><span class="stl_288 stl_11 stl_271" style="word-spacing:-0.0372em;">Undiscounted lease liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2123em;top:23.2069em;"><span class="stl_288 stl_11 stl_381">744  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.4698em;top:23.2069em;"><span class="stl_288 stl_11 stl_324">667  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.778em;top:24.9469em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6861em;top:24.9394em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.9455em;top:24.9394em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.778em;top:26.4907em;"><span class="stl_288 stl_11 stl_540" style="word-spacing:-0.0417em;">Amounts recognized in the income statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.778em;top:27.4194em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0386em;">Expenses related to low value and short-term leases  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0505em;top:27.4194em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3023em;top:27.4194em;"><span class="stl_287 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7773em;top:28.3407em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0351em;">Interest on lease liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7098em;top:28.3407em;"><span class="stl_287 stl_08 stl_364">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9361em;top:28.3407em;"><span class="stl_287 stl_08 stl_187">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7773em;top:29.7663em;"><span class="stl_288 stl_11 stl_528" style="word-spacing:-0.0442em;">Depreciation of lease assets per asset class  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7773em;top:30.6951em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.034em;">Land and buildings  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7198em;top:30.6951em;"><span class="stl_287 stl_08 stl_466">51  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9317em;top:30.6951em;"><span class="stl_287 stl_08 stl_108">50  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7773em;top:31.6163em;"><span class="stl_287 stl_08 stl_412" style="word-spacing:-0.0408em;">Other plant, fixtures and fittings, tools and equipment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7098em;top:31.6163em;"><span class="stl_287 stl_08 stl_364">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.963em;top:31.6163em;"><span class="stl_287 stl_08 stl_326">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7773em;top:32.5301em;"><span class="stl_288 stl_11 stl_404" style="word-spacing:-0.0438em;">Depreciation of lease assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6123em;top:32.5301em;"><span class="stl_288 stl_11 stl_29">69  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8448em;top:32.5301em;"><span class="stl_288 stl_11 stl_31">65  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7773em;top:33.9632em;"><span class="stl_288 stl_11 stl_471" style="word-spacing:-0.0432em;">Amounts recognized in the cash flow statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7773em;top:34.8919em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">Total cash outflow for leases  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.683em;top:34.8919em;"><span class="stl_287 stl_08 stl_55">82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.943em;top:34.8919em;"><span class="stl_287 stl_08 stl_122">87  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:36.3562em;"><span class="stl_390 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.252em;top:36.3177em;"><span class="stl_391 stl_08 stl_567" style="word-spacing:-0.0518em;">Right-of-use assets in progress relate to the rebuild of the leased office premises in Ballerup, Denmark. The rebuild is financed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.252em;top:36.9012em;"><span class="stl_391 stl_08 stl_93" style="word-spacing:-0.0519em;">through a construction loan facility, which will be converted into a lease agreement upon completion, currently expected in October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:4.252em;top:37.4847em;z-index:1082;"><span class="stl_391 stl_08 stl_261">2027.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.4781em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:11.2356em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">‘Right-of-use assets’ refer to a contract or part of a contract that conveys the lessee’s right to use an asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:11.9856em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0338em;">for a period of time. At the commencement date, the Group recognizes a lease liability and a corresponding  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.7356em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">right-of-use asset at the same amount. A right-of-use asset is initially measured at cost, which equals the ini-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:13.4856em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">tial lease liability and initial direct costs, less any lease incentives received. The Group has applied the practi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.2356em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0377em;">cal expedient option allowed under IFRS by using a portfolio approach for the recognition of lease contracts  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.9856em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">related to assets of the same nature and with similar lease terms.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:16.4856em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">The right-of-use asset is depreciated over the earlier of the lease term or the useful life of the asset. The  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:17.2356em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0375em;">impairment testing of right-of-use assets follows the same principles as those applied for property, plant,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:17.9856em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">and equipment, cf. note 3.3. The cost price is adjusted for remeasurement of the lease liability. The Group  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:18.7356em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">has elected not to recognize right-of-use assets and liabilities for leases with a term of 12 months or less and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:19.4856em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0365em;">leases of low-value assets. Lease payments related to such leases are recognized in the income statement as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:20.2356em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0349em;">an expense on a straight-line basis over the lease term.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:21.7356em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">For right-of-use assets, cost is calculated at the lower of the fair value of the assets and the present value of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:22.4856em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0367em;">the future minimum lease payments. For calculating the present value, the internal rate of interest of the lease  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.2356em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">is used as the discount rate. Right-of-use assets are measured at cost, less depreciation and impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.9856em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0347em;">losses, and adjusted for remeasurement of the lease liability.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:25.4856em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Right-of-use assets in progress are measured at cost in line with accounting policy for property, plant, and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.2356em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">machinery, cf. note 3.3, where the Group has control of the underlying assets during the rebuilding phases.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.4781em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:11.2356em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">‘Right-of-use assets’ refer to a contract or part of a contract that conveys the lessee’s right to use an asset  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:11.9856em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0338em;">for a period of time. At the commencement date, the Group recognizes a lease liability and a corresponding  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.7356em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">right-of-use asset at the same amount. A right-of-use asset is initially measured at cost, which equals the ini-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:13.4856em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">tial lease liability and initial direct costs, less any lease incentives received. The Group has applied the practi-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.2356em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0377em;">cal expedient option allowed under IFRS by using a portfolio approach for the recognition of lease contracts  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.9856em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">related to assets of the same nature and with similar lease terms.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:16.4856em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">The right-of-use asset is depreciated over the earlier of the lease term or the useful life of the asset. The  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:17.2356em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0375em;">impairment testing of right-of-use assets follows the same principles as those applied for property, plant,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:17.9856em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">and equipment, cf. note 3.3. The cost price is adjusted for remeasurement of the lease liability. The Group  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:18.7356em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">has elected not to recognize right-of-use assets and liabilities for leases with a term of 12 months or less and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:19.4856em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0365em;">leases of low-value assets. Lease payments related to such leases are recognized in the income statement as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:20.2356em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0349em;">an expense on a straight-line basis over the lease term.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:21.7356em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">For right-of-use assets, cost is calculated at the lower of the fair value of the assets and the present value of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:22.4856em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0367em;">the future minimum lease payments. For calculating the present value, the internal rate of interest of the lease  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.2356em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">is used as the discount rate. Right-of-use assets are measured at cost, less depreciation and impairment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.9856em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0347em;">losses, and adjusted for remeasurement of the lease liability.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:25.4856em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Right-of-use assets in progress are measured at cost in line with accounting policy for property, plant, and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.2356em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">machinery, cf. note 3.3, where the Group has control of the underlying assets during the rebuilding phases.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2256em;"><span class="stl_418 stl_11 stl_101" style="word-spacing:-0.0245em;">3.5 Inventories  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.5802em;top:10.4899em;"><span class="stl_288 stl_11 stl_283">30.09.25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.8289em;top:10.4899em;"><span class="stl_288 stl_11 stl_219">30.09.24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0487em;"><span class="stl_287 stl_08 stl_146" style="word-spacing:-0.032em;">Raw materials and consumables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2939em;top:12.0487em;"><span class="stl_287 stl_08 stl_404">455  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5427em;top:12.0487em;"><span class="stl_287 stl_08 stl_319">435  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.9699em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">Finished goods  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3727em;top:12.9699em;"><span class="stl_287 stl_08 stl_825">817  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5333em;top:12.9699em;"><span class="stl_287 stl_08 stl_672">643  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.6152em;top:13.8837em;"><span class="stl_288 stl_11 stl_348">1,272  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8845em;top:13.8837em;"><span class="stl_288 stl_11 stl_916">1,078  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:15.3243em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">The above includes write-downs amounting to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.8558em;top:15.3243em;"><span class="stl_287 stl_08 stl_25">-9  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.7183em;top:15.3243em;"><span class="stl_287 stl_08 stl_297">-38  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.7574em;"><span class="stl_287 stl_08 stl_334" style="word-spacing:-0.0467em;">Direct production costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8058em;top:16.7574em;"><span class="stl_287 stl_08 stl_497">1,895  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.047em;top:16.7574em;"><span class="stl_287 stl_08 stl_657">1,689  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.6787em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">Unallocated indirect production costs, incl. inbound freight  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3264em;top:17.6787em;"><span class="stl_287 stl_08 stl_227">498  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5883em;top:17.6787em;"><span class="stl_287 stl_08 stl_59">496  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.5999em;"><span class="stl_287 stl_08 stl_344" style="word-spacing:-0.0423em;">Freight costs and tariffs on transportation between Ambu's warehouses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3527em;top:18.5999em;"><span class="stl_287 stl_08 stl_230">157  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9452em;top:18.5999em;"><span class="stl_287 stl_08 stl_29">96  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:19.5137em;"><span class="stl_288 stl_11 stl_97" style="word-spacing:-0.0421em;">Cost of sales for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5595em;top:19.5137em;"><span class="stl_288 stl_11 stl_161">2,550  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8245em;top:19.5137em;"><span class="stl_288 stl_11 stl_76">2,281  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:20.9543em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0359em;">Cost of sales for the year is incurred under the following functions:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:22.3874em;"><span class="stl_287 stl_08 stl_632" style="word-spacing:-0.0442em;">Production costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.7708em;top:22.3874em;"><span class="stl_287 stl_08 stl_129">2,393  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.1014em;top:22.3874em;"><span class="stl_287 stl_08 stl_576">2,185  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:23.3087em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0387em;">Selling and distribution costs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.352em;top:23.3087em;"><span class="stl_287 stl_08 stl_230">157  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9445em;top:23.3087em;"><span class="stl_287 stl_08 stl_29">96  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:24.2224em;"><span class="stl_288 stl_11 stl_97" style="word-spacing:-0.0421em;">Cost of sales for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5589em;top:24.2224em;"><span class="stl_288 stl_11 stl_161">2,550  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8239em;top:24.2224em;"><span class="stl_288 stl_11 stl_76">2,281  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:25.6918em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:26.4493em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0325em;">Inventories are measured at the lower of cost calculated according to the FIFO principle and net realizable  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:27.1993em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">value. The net realizable value is calculated as the selling price less costs of completion and costs necessary  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:27.9493em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0349em;">to make the sale. The cost of goods for resale, as well as raw materials and consumables, comprises the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:28.6993em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0402em;">acquisition price plus delivery costs.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:30.1993em;"><span class="stl_287 stl_08 stl_510" style="word-spacing:-0.0393em;">The cost of manufactured goods comprises the cost of raw materials, consumables, direct labour costs,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:30.9493em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0376em;">and production overheads in the form of logistics and planning costs, production management, as well as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:31.6993em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">expenses for production facilities and equipment, etc.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:9.2258em;"><span class="stl_418 stl_11 stl_349" style="word-spacing:-0.0235em;">3.6 Trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.5387em;"><span class="stl_287 stl_08 stl_61" style="word-spacing:-0.0304em;">Trade receivables fall due as follows:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.0219em;top:11.2399em;"><span class="stl_288 stl_11 stl_47">Due  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.8013em;top:11.2399em;"><span class="stl_288 stl_11 stl_47">Due  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8169em;top:11.2399em;"><span class="stl_288 stl_11 stl_47">Due  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:57.8763em;top:11.9899em;"><span class="stl_288 stl_11 stl_199">1-90  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.9013em;top:11.9899em;"><span class="stl_288 stl_11 stl_435">91-180  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.3119em;top:11.9899em;"><span class="stl_288 stl_11 stl_122" style="word-spacing:0.018em;">&gt; 180  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.7474em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.0351em;top:12.7399em;"><span class="stl_288 stl_11 stl_47" style="word-spacing:-0.04em;">Not due  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:57.8194em;top:12.7399em;"><span class="stl_288 stl_11 stl_78">days  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.5988em;top:12.7399em;"><span class="stl_288 stl_11 stl_78">days  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.6144em;top:12.7399em;"><span class="stl_288 stl_11 stl_78">days  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.7919em;top:12.7399em;"><span class="stl_288 stl_11 stl_579">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.2912em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.2199em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0351em;">Trade receivables, amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.3813em;top:15.2199em;"><span class="stl_287 stl_08 stl_595">646  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.2426em;top:15.2199em;"><span class="stl_287 stl_08 stl_244">172  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.3663em;top:15.2199em;"><span class="stl_287 stl_08 stl_326">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3869em;top:15.2199em;"><span class="stl_287 stl_08 stl_792">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2338em;top:15.2199em;"><span class="stl_287 stl_08 stl_208">849  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:16.1412em;"><span class="stl_287 stl_08 stl_344" style="word-spacing:-0.0423em;">Write-down for expected credit loss  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.9557em;top:16.1412em;"><span class="stl_287 stl_08 stl_77">-2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.6976em;top:16.1412em;"><span class="stl_287 stl_08 stl_781">-4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.4938em;top:16.1412em;"><span class="stl_287 stl_08 stl_93">-3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.4957em;top:16.1412em;"><span class="stl_287 stl_08 stl_353">-6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.472em;top:16.1412em;"><span class="stl_287 stl_08 stl_346">-15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4494em;top:17.0549em;"><span class="stl_288 stl_11 stl_160" style="word-spacing:-0.0317em;">Trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.2669em;top:17.0549em;"><span class="stl_288 stl_11 stl_93">644  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.0994em;top:17.0549em;"><span class="stl_288 stl_11 stl_336">168  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.2876em;top:17.0549em;"><span class="stl_288 stl_11 stl_364">12  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.2963em;top:17.0549em;"><span class="stl_288 stl_11 stl_356">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1051em;top:17.0549em;"><span class="stl_288 stl_11 stl_155">834  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4501em;top:18.4956em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0353em;">Provision for bad debt at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.4176em;top:18.4956em;"><span class="stl_287 stl_08 stl_227">-20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4501em;top:19.4168em;"><span class="stl_287 stl_08 stl_23" style="word-spacing:-0.0303em;">Bad debt realized during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9751em;top:19.4168em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4501em;top:20.3381em;"><span class="stl_287 stl_08 stl_45" style="word-spacing:-0.0329em;">Bad debt provision for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.7601em;top:20.3381em;"><span class="stl_287 stl_08 stl_300">-5  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4501em;top:21.2593em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0344em;">Bad debt provision reversed for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9751em;top:21.2593em;"><span class="stl_287 stl_08 stl_25">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4501em;top:22.1806em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9751em;top:22.1806em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4501em;top:23.1018em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0326em;">Provision for bad debt at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.4726em;top:23.1018em;"><span class="stl_287 stl_08 stl_346">-15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4501em;top:24.9368em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4501em;top:25.8656em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0351em;">Trade receivables, amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.4238em;top:25.8656em;"><span class="stl_287 stl_08 stl_325">581  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.2101em;top:25.8656em;"><span class="stl_287 stl_08 stl_29">154  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.3669em;top:25.8656em;"><span class="stl_287 stl_08 stl_326">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3832em;top:25.8656em;"><span class="stl_287 stl_08 stl_326">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2607em;top:25.8656em;"><span class="stl_287 stl_08 stl_477">765  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4501em;top:26.7868em;"><span class="stl_287 stl_08 stl_344" style="word-spacing:-0.0423em;">Write-down for expected credit loss  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.9569em;top:26.7868em;"><span class="stl_287 stl_08 stl_77">-2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.6988em;top:26.7868em;"><span class="stl_287 stl_08 stl_781">-4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.4926em;top:26.7868em;"><span class="stl_287 stl_08 stl_300">-5  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.5269em;top:26.7868em;"><span class="stl_287 stl_08 stl_25">-9  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.4176em;top:26.7868em;"><span class="stl_287 stl_08 stl_227">-20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4501em;top:27.7006em;"><span class="stl_288 stl_11 stl_160" style="word-spacing:-0.0317em;">Trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.3144em;top:27.7006em;"><span class="stl_288 stl_11 stl_73">579  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.0957em;top:27.7006em;"><span class="stl_288 stl_11 stl_354">150  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.2813em;top:27.7006em;"><span class="stl_288 stl_11 stl_356">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.6838em;top:27.7006em;"><span class="stl_288 stl_11 stl_25">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1363em;top:27.7006em;"><span class="stl_288 stl_11 stl_381">745  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4507em;top:29.1412em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0353em;">Provision for bad debt at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.4244em;top:29.1412em;"><span class="stl_287 stl_08 stl_77">-27  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4507em;top:30.0624em;"><span class="stl_287 stl_08 stl_23" style="word-spacing:-0.0303em;">Bad debt realized during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9757em;top:30.0624em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4507em;top:30.9837em;"><span class="stl_287 stl_08 stl_45" style="word-spacing:-0.0329em;">Bad debt provision for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.7488em;top:30.9837em;"><span class="stl_287 stl_08 stl_353">-6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4507em;top:31.9049em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0344em;">Bad debt provision reversed for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6307em;top:31.9049em;"><span class="stl_287 stl_08 stl_337">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4507em;top:32.8262em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Currency translation adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:71.1444em;top:32.8262em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4507em;top:33.7474em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0326em;">Provision for bad debt at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.4182em;top:33.7474em;"><span class="stl_287 stl_08 stl_227">-20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5343em;"><span class="stl_438 stl_92 stl_334" style="word-spacing:-0.0467em;">Credit risks  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2887em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">Ambu monitors trade receivables on a daily basis by means of due date reports, changes in payment pattern  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0387em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">trends, and ordinary follow-up routines to identify any indications that the initial expectations for credit losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.7887em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0381em;">on the individual receivables should be adjusted. This risk assessment is targeted at private customers.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.2887em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0369em;">Public-sector customers are an important part of the company’s receivables, and it is believed that no debtor  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.0387em;"><span class="stl_287 stl_08 stl_396" style="word-spacing:-0.0404em;">risks are associated with public-sector customers. In addition to a specific assessment for expected credit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.7887em;"><span class="stl_287 stl_08 stl_412" style="word-spacing:-0.0408em;">losses on private customers, the Management estimates general macro risks on the portfolio of trade receiv-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.5387em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0402em;">ables. The Group does not use factoring in connection with the collection of debts.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.0312em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.7887em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">Trade receivables are measured at amortized cost less write-down for lifetime expected credit losses. To  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.5387em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0365em;">measure the expected credit losses, trade receivables are grouped according to shared credit risk character-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.2887em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0365em;">istics and days overdue. Furthermore, an allowance for lifetime credit losses for trade receivables is recog-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.0387em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0328em;">nized on initial recognition.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.5449em;top:10.4899em;"><span class="stl_288 stl_11 stl_543" style="word-spacing:-0.0467em;">Contractual cash flows  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.8993em;top:11.3168em;"><span class="stl_288 stl_11 stl_631">Carrying  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:12.0743em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.1418em;top:12.0668em;"><span class="stl_288 stl_11 stl_823">0</span><span class="stl_288 stl_11 stl_790">-</span><span class="stl_288 stl_11 stl_76" style="word-spacing:-0.026em;">1 year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.0311em;top:12.0668em;"><span class="stl_288 stl_11 stl_146" style="word-spacing:-0.032em;">1-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.3311em;top:12.0668em;"><span class="stl_288 stl_11 stl_361" style="word-spacing:-0.037em;">&gt; 5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8699em;top:12.0668em;"><span class="stl_288 stl_11 stl_579">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.2368em;top:12.0668em;"><span class="stl_288 stl_11 stl_271">amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:13.6181em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:14.5468em;"><span class="stl_287 stl_08 stl_75" style="word-spacing:-0.0294em;">Trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.538em;top:14.5468em;"><span class="stl_287 stl_08 stl_404">834  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7168em;top:14.5468em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:14.5468em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2943em;top:14.5468em;"><span class="stl_287 stl_08 stl_404">834  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5455em;top:14.5468em;"><span class="stl_287 stl_08 stl_404">834  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:15.4681em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0403em;">Other receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.9211em;top:15.4681em;"><span class="stl_287 stl_08 stl_146">30  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.203em;top:15.4681em;"><span class="stl_287 stl_08 stl_337">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:15.4681em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6724em;top:15.4681em;"><span class="stl_287 stl_08 stl_432">40  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9243em;top:15.4681em;"><span class="stl_287 stl_08 stl_432">40  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:16.3893em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0414em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.543em;top:16.3893em;"><span class="stl_287 stl_08 stl_361">866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7168em;top:16.3893em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:16.3893em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2986em;top:16.3893em;"><span class="stl_287 stl_08 stl_361">866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5499em;top:16.3893em;"><span class="stl_287 stl_08 stl_361">866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:17.3031em;"><span class="stl_288 stl_11 stl_309" style="word-spacing:-0.0405em;">Financial assets measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:18.0531em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.8674em;top:18.0531em;"><span class="stl_288 stl_11 stl_920">1,730  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.1224em;top:18.0531em;"><span class="stl_288 stl_11 stl_356">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9605em;top:18.0531em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.648em;top:18.0531em;"><span class="stl_288 stl_11 stl_71">1,740  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8993em;top:18.0531em;"><span class="stl_288 stl_11 stl_71">1,740  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:19.4937em;"><span class="stl_287 stl_08 stl_101" style="word-spacing:-0.0245em;">Trade payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.578em;top:19.4937em;"><span class="stl_287 stl_08 stl_448">572  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7168em;top:19.4937em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:19.4937em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3336em;top:19.4937em;"><span class="stl_287 stl_08 stl_448">572  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5855em;top:19.4937em;"><span class="stl_287 stl_08 stl_448">572  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:20.4149em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">Other payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.5711em;top:20.4149em;"><span class="stl_287 stl_08 stl_331">441  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.5474em;top:20.4149em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7993em;top:20.4149em;"><span class="stl_287 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.283em;top:20.4149em;"><span class="stl_287 stl_08 stl_300">448  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5343em;top:20.4149em;"><span class="stl_287 stl_08 stl_300">448  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.778em;top:21.3287em;"><span class="stl_288 stl_11 stl_361" style="word-spacing:-0.037em;">Financial liabilities measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.778em;top:22.0787em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.8899em;top:22.0787em;"><span class="stl_288 stl_11 stl_898">1,013  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.5074em;top:22.0787em;"><span class="stl_288 stl_11 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7593em;top:22.0787em;"><span class="stl_288 stl_11 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.6024em;top:22.0787em;"><span class="stl_288 stl_11 stl_657">1,020  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8536em;top:22.0787em;"><span class="stl_288 stl_11 stl_657">1,020  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7774em;top:24.0237em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7774em;top:24.9524em;"><span class="stl_287 stl_08 stl_75" style="word-spacing:-0.0294em;">Trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.5818em;top:24.9524em;"><span class="stl_287 stl_08 stl_261">745  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7149em;top:24.9524em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9668em;top:24.9524em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3374em;top:24.9524em;"><span class="stl_287 stl_08 stl_261">745  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5886em;top:24.9524em;"><span class="stl_287 stl_08 stl_261">745  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7768em;top:25.8737em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0403em;">Other receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.9386em;top:25.8737em;"><span class="stl_287 stl_08 stl_63">21  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.1786em;top:25.8737em;"><span class="stl_287 stl_08 stl_328">23  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9661em;top:25.8737em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6611em;top:25.8737em;"><span class="stl_287 stl_08 stl_523">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.913em;top:25.8737em;"><span class="stl_287 stl_08 stl_523">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7761em;top:26.7949em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0414em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.6293em;top:26.7949em;"><span class="stl_287 stl_08 stl_302">615  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7136em;top:26.7949em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9655em;top:26.7949em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3849em;top:26.7949em;"><span class="stl_287 stl_08 stl_302">615  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6361em;top:26.7949em;"><span class="stl_287 stl_08 stl_302">615  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:27.7087em;"><span class="stl_288 stl_11 stl_309" style="word-spacing:-0.0405em;">Financial assets measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:28.4587em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.8493em;top:28.4587em;"><span class="stl_288 stl_11 stl_217">1,381  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.0943em;top:28.4587em;"><span class="stl_288 stl_11 stl_137">23  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9561em;top:28.4587em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5793em;top:28.4587em;"><span class="stl_288 stl_11 stl_36">1,404  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8311em;top:28.4587em;"><span class="stl_288 stl_11 stl_36">1,404  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:29.8993em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0396em;">Derivative financial instruments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:30.6493em;"><span class="stl_287 stl_08 stl_270" style="word-spacing:-0.0087em;">(level 2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.2924em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.713em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9649em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.048em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2999em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7749em;top:31.563em;"><span class="stl_288 stl_11 stl_375" style="word-spacing:-0.0428em;">Financial assets stated at fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7749em;top:32.3131em;"><span class="stl_288 stl_11 stl_31" style="word-spacing:-0.042em;">in the income statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.2524em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7036em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9555em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.008em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2599em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7743em;top:33.7537em;"><span class="stl_287 stl_08 stl_101" style="word-spacing:-0.0245em;">Trade payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.558em;top:33.7537em;"><span class="stl_287 stl_08 stl_214">490  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7118em;top:33.7537em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9636em;top:33.7537em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3136em;top:33.7537em;"><span class="stl_287 stl_08 stl_214">490  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5655em;top:33.7537em;"><span class="stl_287 stl_08 stl_214">490  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7736em;top:34.6749em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">Other payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.5699em;top:34.6749em;"><span class="stl_287 stl_08 stl_320">428  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.543em;top:34.6749em;"><span class="stl_287 stl_08 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7949em;top:34.6749em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2961em;top:34.6749em;"><span class="stl_287 stl_08 stl_45">439  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.548em;top:34.6749em;"><span class="stl_287 stl_08 stl_45">439  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7743em;top:35.5887em;"><span class="stl_288 stl_11 stl_361" style="word-spacing:-0.037em;">Financial liabilities measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7743em;top:36.3387em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.4655em;top:36.3387em;"><span class="stl_288 stl_11 stl_435">918  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.5036em;top:36.3387em;"><span class="stl_288 stl_11 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7555em;top:36.3387em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1874em;top:36.3387em;"><span class="stl_288 stl_11 stl_126">929  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.438em;top:36.3387em;"><span class="stl_288 stl_11 stl_126">929  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.5254em;"><span class="stl_288 stl_11 stl_207" style="word-spacing:-0.0412em;">Financial instruments measured at fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:11.2829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0353em;">At the end of the financial year, it is assessed whether an instrument has moved between the levels of the fair  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0329em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0332em;">value hierarchy. There have been no movements between the various levels this year or the year before.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:13.5254em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0418em;">Methods and assumptions for the determination of fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.2785em;"><span class="stl_438 stl_92 stl_528" style="word-spacing:-0.0444em;">Derivative financial instruments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.0329em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Derivative financial instruments are recognized at fair value based on a valuation report prepared by an exter-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.7829em;"><span class="stl_287 stl_08 stl_207" style="word-spacing:-0.0413em;">nal party who valuates the instruments based on discounted cash flows and other inputs based on observ-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:16.5329em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0337em;">able market data.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:18.0254em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:18.7829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">Debt to credit institutions, etc., is recognized at the date of borrowing at fair value corresponding to the pro-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:19.5329em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">ceeds received, less transaction costs paid. In subsequent periods, the financial liabilities are measured at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:20.2829em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">amortized cost using the ‘effective rate of interest method’ so that the difference between the proceeds and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:21.0329em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0344em;">the nominal value is recognized under financial expenses in the income statement for the duration of the loan  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:21.7829em;"><span class="stl_287 stl_08 stl_372">term.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.2829em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">Derivative financial instruments are recognized as from the transaction date and are measured at fair value in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.0329em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0355em;">the balance sheet. The fair value of derivative financial instruments is calculated on the basis of current mar-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.7829em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0338em;">ket data, as well as accepted valuation methods.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.2829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">Changes in the fair value of derivative financial instruments are recognized on an ongoing basis in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.0329em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0384em;">income statement.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.5329em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0371em;">Other liabilities are measured at amortized cost.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:30.0329em;"><span class="stl_287 stl_08 stl_127" style="word-spacing:-0.029em;">Fair value hierarchy is as following:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:31.5329em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.036em;">Level 1: The fair value of financial instruments traded on active markets is based on the listed market prices at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7938em;top:32.2829em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0325em;">the balance sheet date.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7938em;top:33.0329em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">The listed price is used for the Group’s financial assets as the current purchase price.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:34.5329em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0324em;">Level 2: The fair value of financial instruments which are not traded in an active market (e.g., over-the-counter  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8257em;top:35.2829em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0349em;">derivatives), is determined using ordinary valuation methods.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:36.7829em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">Level 3: If no observable market data is available, the instrument is included in the last category.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:25.6918em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:26.4493em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0325em;">Inventories are measured at the lower of cost calculated according to the FIFO principle and net realizable  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:27.1993em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">value. The net realizable value is calculated as the selling price less costs of completion and costs necessary  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:27.9493em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0349em;">to make the sale. The cost of goods for resale, as well as raw materials and consumables, comprises the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:28.6993em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0402em;">acquisition price plus delivery costs.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:30.1993em;"><span class="stl_287 stl_08 stl_510" style="word-spacing:-0.0393em;">The cost of manufactured goods comprises the cost of raw materials, consumables, direct labour costs,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:30.9493em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0376em;">and production overheads in the form of logistics and planning costs, production management, as well as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:31.6993em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">expenses for production facilities and equipment, etc.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5343em;"><span class="stl_438 stl_92 stl_334" style="word-spacing:-0.0467em;">Credit risks  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2887em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">Ambu monitors trade receivables on a daily basis by means of due date reports, changes in payment pattern  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0387em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">trends, and ordinary follow-up routines to identify any indications that the initial expectations for credit losses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.7887em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0381em;">on the individual receivables should be adjusted. This risk assessment is targeted at private customers.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.2887em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0369em;">Public-sector customers are an important part of the company’s receivables, and it is believed that no debtor  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.0387em;"><span class="stl_287 stl_08 stl_396" style="word-spacing:-0.0404em;">risks are associated with public-sector customers. In addition to a specific assessment for expected credit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.7887em;"><span class="stl_287 stl_08 stl_412" style="word-spacing:-0.0408em;">losses on private customers, the Management estimates general macro risks on the portfolio of trade receiv-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.5387em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0402em;">ables. The Group does not use factoring in connection with the collection of debts.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:24.5612em;"><span class="stl_438 stl_92 stl_395" style="word-spacing:-0.0445em;">Credit risk  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:25.3156em;"><span class="stl_287 stl_08 stl_163" style="word-spacing:-0.0386em;">Ambu is mainly exposed to credit risks in respect of trade receivables. The maximum credit risk corresponds  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.0656em;"><span class="stl_287 stl_08 stl_162" style="word-spacing:-0.0358em;">to the carrying amount. For many years, Ambu has not realized any significant losses on receivables. Refer-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:26.8156em;"><span class="stl_287 stl_08 stl_141" style="word-spacing:-0.0319em;">ence is made to note 3.6.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.0312em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.7887em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">Trade receivables are measured at amortized cost less write-down for lifetime expected credit losses. To  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.5387em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0365em;">measure the expected credit losses, trade receivables are grouped according to shared credit risk character-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.2887em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0365em;">istics and days overdue. Furthermore, an allowance for lifetime credit losses for trade receivables is recog-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.0387em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0328em;">nized on initial recognition.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.0543em;"><span class="stl_438 stl_92 stl_160" style="word-spacing:-0.0417em;">Market risk  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.8087em;"><span class="stl_287 stl_08 stl_61" style="word-spacing:-0.0404em;">Ambu is, as a global business, exposed to tariffs where applicable to Ambu's business sector and its specific  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.5587em;"><span class="stl_287 stl_08 stl_24" style="word-spacing:-0.0367em;">products and components. Tariffs are partly mitigated by the utilization of Ambu's global footprint with the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.3087em;"><span class="stl_287 stl_08 stl_26" style="word-spacing:-0.0381em;">flexibility to move some production between the existing production sites in Asia, the U.S., and Mexico.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.5781em;"><span class="stl_287 stl_08 stl_129" style="word-spacing:-0.0314em;">Additionally, the Group is exposed to changing raw materials prices incl. resin, silver and copper, and freight  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.3281em;"><span class="stl_287 stl_08 stl_118" style="word-spacing:-0.0349em;">rates. Ambu's Global Procurement and Global Supply Chain function, respectively, monitor these risks and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.0781em;"><span class="stl_287 stl_08 stl_162" style="word-spacing:-0.0358em;">work to mitigate them to an acceptable level. The Management assesses these risks to be manageable as they  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.8281em;"><span class="stl_287 stl_08 stl_165" style="word-spacing:-0.0365em;">represent a small value of the total cost, despite substantial volatility in recent years.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:31.1331em;"><span class="stl_438 stl_92 stl_149" style="word-spacing:-0.0438em;">Liquidity and financing risk  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:31.8875em;"><span class="stl_287 stl_08 stl_24" style="word-spacing:-0.0365em;">Financing and sufficient liquidity are fundamental to Ambu’s continued operation and growth. Liquidity is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:32.6375em;"><span class="stl_287 stl_08 stl_119" style="word-spacing:-0.0349em;">managed centrally from the parent company. The objective of the cash management is to ensure that ade-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:33.3875em;"><span class="stl_287 stl_08 stl_118" style="word-spacing:-0.0348em;">quate and flexible cash resources are being maintained, thus enabling Ambu to honor its current obligations,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:34.1375em;"><span class="stl_287 stl_08 stl_118" style="word-spacing:-0.0347em;">such as repaying loans and settling other liabilities.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2258em;"><span class="stl_418 stl_11 stl_164" style="word-spacing:-0.0352em;">4.2 Financial instruments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.5449em;top:10.4899em;"><span class="stl_288 stl_11 stl_543" style="word-spacing:-0.0467em;">Contractual cash flows  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.8993em;top:11.3168em;"><span class="stl_288 stl_11 stl_631">Carrying  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:12.0743em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.1418em;top:12.0668em;"><span class="stl_288 stl_11 stl_823">0</span><span class="stl_288 stl_11 stl_790">-</span><span class="stl_288 stl_11 stl_76" style="word-spacing:-0.026em;">1 year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.0311em;top:12.0668em;"><span class="stl_288 stl_11 stl_146" style="word-spacing:-0.032em;">1-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.3311em;top:12.0668em;"><span class="stl_288 stl_11 stl_361" style="word-spacing:-0.037em;">&gt; 5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8699em;top:12.0668em;"><span class="stl_288 stl_11 stl_579">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.2368em;top:12.0668em;"><span class="stl_288 stl_11 stl_271">amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:13.6181em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:14.5468em;"><span class="stl_287 stl_08 stl_75" style="word-spacing:-0.0294em;">Trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.538em;top:14.5468em;"><span class="stl_287 stl_08 stl_404">834  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7168em;top:14.5468em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:14.5468em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2943em;top:14.5468em;"><span class="stl_287 stl_08 stl_404">834  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5455em;top:14.5468em;"><span class="stl_287 stl_08 stl_404">834  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:15.4681em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0403em;">Other receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.9211em;top:15.4681em;"><span class="stl_287 stl_08 stl_146">30  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.203em;top:15.4681em;"><span class="stl_287 stl_08 stl_337">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:15.4681em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6724em;top:15.4681em;"><span class="stl_287 stl_08 stl_432">40  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9243em;top:15.4681em;"><span class="stl_287 stl_08 stl_432">40  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:16.3893em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0414em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.543em;top:16.3893em;"><span class="stl_287 stl_08 stl_361">866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7168em;top:16.3893em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:16.3893em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2986em;top:16.3893em;"><span class="stl_287 stl_08 stl_361">866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5499em;top:16.3893em;"><span class="stl_287 stl_08 stl_361">866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:17.3031em;"><span class="stl_288 stl_11 stl_309" style="word-spacing:-0.0405em;">Financial assets measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:18.0531em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.8674em;top:18.0531em;"><span class="stl_288 stl_11 stl_920">1,730  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.1224em;top:18.0531em;"><span class="stl_288 stl_11 stl_356">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9605em;top:18.0531em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.648em;top:18.0531em;"><span class="stl_288 stl_11 stl_71">1,740  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8993em;top:18.0531em;"><span class="stl_288 stl_11 stl_71">1,740  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:19.4937em;"><span class="stl_287 stl_08 stl_101" style="word-spacing:-0.0245em;">Trade payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.578em;top:19.4937em;"><span class="stl_287 stl_08 stl_448">572  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7168em;top:19.4937em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:19.4937em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3336em;top:19.4937em;"><span class="stl_287 stl_08 stl_448">572  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5855em;top:19.4937em;"><span class="stl_287 stl_08 stl_448">572  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:20.4149em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">Other payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.5711em;top:20.4149em;"><span class="stl_287 stl_08 stl_331">441  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.5474em;top:20.4149em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7993em;top:20.4149em;"><span class="stl_287 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.283em;top:20.4149em;"><span class="stl_287 stl_08 stl_300">448  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5343em;top:20.4149em;"><span class="stl_287 stl_08 stl_300">448  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.778em;top:21.3287em;"><span class="stl_288 stl_11 stl_361" style="word-spacing:-0.037em;">Financial liabilities measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.778em;top:22.0787em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.8899em;top:22.0787em;"><span class="stl_288 stl_11 stl_898">1,013  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.5074em;top:22.0787em;"><span class="stl_288 stl_11 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7593em;top:22.0787em;"><span class="stl_288 stl_11 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.6024em;top:22.0787em;"><span class="stl_288 stl_11 stl_657">1,020  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8536em;top:22.0787em;"><span class="stl_288 stl_11 stl_657">1,020  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7774em;top:24.0237em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7774em;top:24.9524em;"><span class="stl_287 stl_08 stl_75" style="word-spacing:-0.0294em;">Trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.5818em;top:24.9524em;"><span class="stl_287 stl_08 stl_261">745  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7149em;top:24.9524em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9668em;top:24.9524em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3374em;top:24.9524em;"><span class="stl_287 stl_08 stl_261">745  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5886em;top:24.9524em;"><span class="stl_287 stl_08 stl_261">745  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7768em;top:25.8737em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0403em;">Other receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.9386em;top:25.8737em;"><span class="stl_287 stl_08 stl_63">21  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.1786em;top:25.8737em;"><span class="stl_287 stl_08 stl_328">23  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9661em;top:25.8737em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6611em;top:25.8737em;"><span class="stl_287 stl_08 stl_523">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.913em;top:25.8737em;"><span class="stl_287 stl_08 stl_523">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7761em;top:26.7949em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0414em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.6293em;top:26.7949em;"><span class="stl_287 stl_08 stl_302">615  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7136em;top:26.7949em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9655em;top:26.7949em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3849em;top:26.7949em;"><span class="stl_287 stl_08 stl_302">615  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6361em;top:26.7949em;"><span class="stl_287 stl_08 stl_302">615  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:27.7087em;"><span class="stl_288 stl_11 stl_309" style="word-spacing:-0.0405em;">Financial assets measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:28.4587em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.8493em;top:28.4587em;"><span class="stl_288 stl_11 stl_217">1,381  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.0943em;top:28.4587em;"><span class="stl_288 stl_11 stl_137">23  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9561em;top:28.4587em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5793em;top:28.4587em;"><span class="stl_288 stl_11 stl_36">1,404  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8311em;top:28.4587em;"><span class="stl_288 stl_11 stl_36">1,404  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:29.8993em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0396em;">Derivative financial instruments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:30.6493em;"><span class="stl_287 stl_08 stl_270" style="word-spacing:-0.0087em;">(level 2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.2924em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.713em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9649em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.048em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2999em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7749em;top:31.563em;"><span class="stl_288 stl_11 stl_375" style="word-spacing:-0.0428em;">Financial assets stated at fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7749em;top:32.3131em;"><span class="stl_288 stl_11 stl_31" style="word-spacing:-0.042em;">in the income statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.2524em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7036em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9555em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.008em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2599em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7743em;top:33.7537em;"><span class="stl_287 stl_08 stl_101" style="word-spacing:-0.0245em;">Trade payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.558em;top:33.7537em;"><span class="stl_287 stl_08 stl_214">490  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7118em;top:33.7537em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9636em;top:33.7537em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3136em;top:33.7537em;"><span class="stl_287 stl_08 stl_214">490  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5655em;top:33.7537em;"><span class="stl_287 stl_08 stl_214">490  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7736em;top:34.6749em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">Other payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.5699em;top:34.6749em;"><span class="stl_287 stl_08 stl_320">428  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.543em;top:34.6749em;"><span class="stl_287 stl_08 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7949em;top:34.6749em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2961em;top:34.6749em;"><span class="stl_287 stl_08 stl_45">439  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.548em;top:34.6749em;"><span class="stl_287 stl_08 stl_45">439  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7743em;top:35.5887em;"><span class="stl_288 stl_11 stl_361" style="word-spacing:-0.037em;">Financial liabilities measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7743em;top:36.3387em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.4655em;top:36.3387em;"><span class="stl_288 stl_11 stl_435">918  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.5036em;top:36.3387em;"><span class="stl_288 stl_11 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7555em;top:36.3387em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1874em;top:36.3387em;"><span class="stl_288 stl_11 stl_126">929  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.438em;top:36.3387em;"><span class="stl_288 stl_11 stl_126">929  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.5254em;"><span class="stl_288 stl_11 stl_207" style="word-spacing:-0.0412em;">Financial instruments measured at fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:11.2829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0353em;">At the end of the financial year, it is assessed whether an instrument has moved between the levels of the fair  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0329em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0332em;">value hierarchy. There have been no movements between the various levels this year or the year before.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:13.5254em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0418em;">Methods and assumptions for the determination of fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.2785em;"><span class="stl_438 stl_92 stl_528" style="word-spacing:-0.0444em;">Derivative financial instruments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.0329em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Derivative financial instruments are recognized at fair value based on a valuation report prepared by an exter-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.7829em;"><span class="stl_287 stl_08 stl_207" style="word-spacing:-0.0413em;">nal party who valuates the instruments based on discounted cash flows and other inputs based on observ-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:16.5329em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0337em;">able market data.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:18.0254em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:18.7829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">Debt to credit institutions, etc., is recognized at the date of borrowing at fair value corresponding to the pro-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:19.5329em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">ceeds received, less transaction costs paid. In subsequent periods, the financial liabilities are measured at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:20.2829em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">amortized cost using the ‘effective rate of interest method’ so that the difference between the proceeds and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:21.0329em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0344em;">the nominal value is recognized under financial expenses in the income statement for the duration of the loan  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:21.7829em;"><span class="stl_287 stl_08 stl_372">term.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.2829em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">Derivative financial instruments are recognized as from the transaction date and are measured at fair value in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.0329em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0355em;">the balance sheet. The fair value of derivative financial instruments is calculated on the basis of current mar-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.7829em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0338em;">ket data, as well as accepted valuation methods.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.2829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">Changes in the fair value of derivative financial instruments are recognized on an ongoing basis in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.0329em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0384em;">income statement.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.5329em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0371em;">Other liabilities are measured at amortized cost.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:30.0329em;"><span class="stl_287 stl_08 stl_127" style="word-spacing:-0.029em;">Fair value hierarchy is as following:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:31.5329em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.036em;">Level 1: The fair value of financial instruments traded on active markets is based on the listed market prices at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7938em;top:32.2829em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0325em;">the balance sheet date.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7938em;top:33.0329em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">The listed price is used for the Group’s financial assets as the current purchase price.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:34.5329em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0324em;">Level 2: The fair value of financial instruments which are not traded in an active market (e.g., over-the-counter  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8257em;top:35.2829em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0349em;">derivatives), is determined using ordinary valuation methods.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:36.7829em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">Level 3: If no observable market data is available, the instrument is included in the last category.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2258em;"><span class="stl_418 stl_11 stl_164" style="word-spacing:-0.0352em;">4.2 Financial instruments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.5449em;top:10.4899em;"><span class="stl_288 stl_11 stl_543" style="word-spacing:-0.0467em;">Contractual cash flows  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.8993em;top:11.3168em;"><span class="stl_288 stl_11 stl_631">Carrying  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:12.0743em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.1418em;top:12.0668em;"><span class="stl_288 stl_11 stl_823">0</span><span class="stl_288 stl_11 stl_790">-</span><span class="stl_288 stl_11 stl_76" style="word-spacing:-0.026em;">1 year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.0311em;top:12.0668em;"><span class="stl_288 stl_11 stl_146" style="word-spacing:-0.032em;">1-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.3311em;top:12.0668em;"><span class="stl_288 stl_11 stl_361" style="word-spacing:-0.037em;">&gt; 5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8699em;top:12.0668em;"><span class="stl_288 stl_11 stl_579">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.2368em;top:12.0668em;"><span class="stl_288 stl_11 stl_271">amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:13.6181em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:14.5468em;"><span class="stl_287 stl_08 stl_75" style="word-spacing:-0.0294em;">Trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.538em;top:14.5468em;"><span class="stl_287 stl_08 stl_404">834  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7168em;top:14.5468em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:14.5468em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2943em;top:14.5468em;"><span class="stl_287 stl_08 stl_404">834  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5455em;top:14.5468em;"><span class="stl_287 stl_08 stl_404">834  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:15.4681em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0403em;">Other receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.9211em;top:15.4681em;"><span class="stl_287 stl_08 stl_146">30  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.203em;top:15.4681em;"><span class="stl_287 stl_08 stl_337">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:15.4681em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6724em;top:15.4681em;"><span class="stl_287 stl_08 stl_432">40  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9243em;top:15.4681em;"><span class="stl_287 stl_08 stl_432">40  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:16.3893em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0414em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.543em;top:16.3893em;"><span class="stl_287 stl_08 stl_361">866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7168em;top:16.3893em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:16.3893em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2986em;top:16.3893em;"><span class="stl_287 stl_08 stl_361">866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5499em;top:16.3893em;"><span class="stl_287 stl_08 stl_361">866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:17.3031em;"><span class="stl_288 stl_11 stl_309" style="word-spacing:-0.0405em;">Financial assets measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:18.0531em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.8674em;top:18.0531em;"><span class="stl_288 stl_11 stl_920">1,730  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.1224em;top:18.0531em;"><span class="stl_288 stl_11 stl_356">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9605em;top:18.0531em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.648em;top:18.0531em;"><span class="stl_288 stl_11 stl_71">1,740  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8993em;top:18.0531em;"><span class="stl_288 stl_11 stl_71">1,740  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:19.4937em;"><span class="stl_287 stl_08 stl_101" style="word-spacing:-0.0245em;">Trade payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.578em;top:19.4937em;"><span class="stl_287 stl_08 stl_448">572  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7168em;top:19.4937em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:19.4937em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3336em;top:19.4937em;"><span class="stl_287 stl_08 stl_448">572  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5855em;top:19.4937em;"><span class="stl_287 stl_08 stl_448">572  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:20.4149em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">Other payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.5711em;top:20.4149em;"><span class="stl_287 stl_08 stl_331">441  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.5474em;top:20.4149em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7993em;top:20.4149em;"><span class="stl_287 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.283em;top:20.4149em;"><span class="stl_287 stl_08 stl_300">448  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5343em;top:20.4149em;"><span class="stl_287 stl_08 stl_300">448  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.778em;top:21.3287em;"><span class="stl_288 stl_11 stl_361" style="word-spacing:-0.037em;">Financial liabilities measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.778em;top:22.0787em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.8899em;top:22.0787em;"><span class="stl_288 stl_11 stl_898">1,013  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.5074em;top:22.0787em;"><span class="stl_288 stl_11 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7593em;top:22.0787em;"><span class="stl_288 stl_11 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.6024em;top:22.0787em;"><span class="stl_288 stl_11 stl_657">1,020  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8536em;top:22.0787em;"><span class="stl_288 stl_11 stl_657">1,020  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7774em;top:24.0237em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7774em;top:24.9524em;"><span class="stl_287 stl_08 stl_75" style="word-spacing:-0.0294em;">Trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.5818em;top:24.9524em;"><span class="stl_287 stl_08 stl_261">745  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7149em;top:24.9524em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9668em;top:24.9524em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3374em;top:24.9524em;"><span class="stl_287 stl_08 stl_261">745  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5886em;top:24.9524em;"><span class="stl_287 stl_08 stl_261">745  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7768em;top:25.8737em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0403em;">Other receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.9386em;top:25.8737em;"><span class="stl_287 stl_08 stl_63">21  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.1786em;top:25.8737em;"><span class="stl_287 stl_08 stl_328">23  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9661em;top:25.8737em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6611em;top:25.8737em;"><span class="stl_287 stl_08 stl_523">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.913em;top:25.8737em;"><span class="stl_287 stl_08 stl_523">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7761em;top:26.7949em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0414em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.6293em;top:26.7949em;"><span class="stl_287 stl_08 stl_302">615  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7136em;top:26.7949em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9655em;top:26.7949em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3849em;top:26.7949em;"><span class="stl_287 stl_08 stl_302">615  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6361em;top:26.7949em;"><span class="stl_287 stl_08 stl_302">615  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:27.7087em;"><span class="stl_288 stl_11 stl_309" style="word-spacing:-0.0405em;">Financial assets measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:28.4587em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.8493em;top:28.4587em;"><span class="stl_288 stl_11 stl_217">1,381  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.0943em;top:28.4587em;"><span class="stl_288 stl_11 stl_137">23  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9561em;top:28.4587em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5793em;top:28.4587em;"><span class="stl_288 stl_11 stl_36">1,404  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8311em;top:28.4587em;"><span class="stl_288 stl_11 stl_36">1,404  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:29.8993em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0396em;">Derivative financial instruments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:30.6493em;"><span class="stl_287 stl_08 stl_270" style="word-spacing:-0.0087em;">(level 2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.2924em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.713em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9649em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.048em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2999em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7749em;top:31.563em;"><span class="stl_288 stl_11 stl_375" style="word-spacing:-0.0428em;">Financial assets stated at fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7749em;top:32.3131em;"><span class="stl_288 stl_11 stl_31" style="word-spacing:-0.042em;">in the income statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.2524em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7036em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9555em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.008em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2599em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7743em;top:33.7537em;"><span class="stl_287 stl_08 stl_101" style="word-spacing:-0.0245em;">Trade payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.558em;top:33.7537em;"><span class="stl_287 stl_08 stl_214">490  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7118em;top:33.7537em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9636em;top:33.7537em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3136em;top:33.7537em;"><span class="stl_287 stl_08 stl_214">490  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5655em;top:33.7537em;"><span class="stl_287 stl_08 stl_214">490  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7736em;top:34.6749em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">Other payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.5699em;top:34.6749em;"><span class="stl_287 stl_08 stl_320">428  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.543em;top:34.6749em;"><span class="stl_287 stl_08 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7949em;top:34.6749em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2961em;top:34.6749em;"><span class="stl_287 stl_08 stl_45">439  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.548em;top:34.6749em;"><span class="stl_287 stl_08 stl_45">439  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7743em;top:35.5887em;"><span class="stl_288 stl_11 stl_361" style="word-spacing:-0.037em;">Financial liabilities measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7743em;top:36.3387em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.4655em;top:36.3387em;"><span class="stl_288 stl_11 stl_435">918  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.5036em;top:36.3387em;"><span class="stl_288 stl_11 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7555em;top:36.3387em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1874em;top:36.3387em;"><span class="stl_288 stl_11 stl_126">929  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.438em;top:36.3387em;"><span class="stl_288 stl_11 stl_126">929  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.5254em;"><span class="stl_288 stl_11 stl_207" style="word-spacing:-0.0412em;">Financial instruments measured at fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:11.2829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0353em;">At the end of the financial year, it is assessed whether an instrument has moved between the levels of the fair  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0329em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0332em;">value hierarchy. There have been no movements between the various levels this year or the year before.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:13.5254em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0418em;">Methods and assumptions for the determination of fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.2785em;"><span class="stl_438 stl_92 stl_528" style="word-spacing:-0.0444em;">Derivative financial instruments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.0329em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Derivative financial instruments are recognized at fair value based on a valuation report prepared by an exter-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.7829em;"><span class="stl_287 stl_08 stl_207" style="word-spacing:-0.0413em;">nal party who valuates the instruments based on discounted cash flows and other inputs based on observ-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:16.5329em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0337em;">able market data.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:18.0254em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:18.7829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">Debt to credit institutions, etc., is recognized at the date of borrowing at fair value corresponding to the pro-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:19.5329em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">ceeds received, less transaction costs paid. In subsequent periods, the financial liabilities are measured at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:20.2829em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">amortized cost using the ‘effective rate of interest method’ so that the difference between the proceeds and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:21.0329em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0344em;">the nominal value is recognized under financial expenses in the income statement for the duration of the loan  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:21.7829em;"><span class="stl_287 stl_08 stl_372">term.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.2829em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">Derivative financial instruments are recognized as from the transaction date and are measured at fair value in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.0329em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0355em;">the balance sheet. The fair value of derivative financial instruments is calculated on the basis of current mar-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.7829em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0338em;">ket data, as well as accepted valuation methods.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.2829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">Changes in the fair value of derivative financial instruments are recognized on an ongoing basis in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.0329em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0384em;">income statement.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.5329em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0371em;">Other liabilities are measured at amortized cost.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:30.0329em;"><span class="stl_287 stl_08 stl_127" style="word-spacing:-0.029em;">Fair value hierarchy is as following:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:31.5329em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.036em;">Level 1: The fair value of financial instruments traded on active markets is based on the listed market prices at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7938em;top:32.2829em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0325em;">the balance sheet date.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7938em;top:33.0329em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">The listed price is used for the Group’s financial assets as the current purchase price.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:34.5329em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0324em;">Level 2: The fair value of financial instruments which are not traded in an active market (e.g., over-the-counter  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8257em;top:35.2829em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0349em;">derivatives), is determined using ordinary valuation methods.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:36.7829em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">Level 3: If no observable market data is available, the instrument is included in the last category.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2258em;"><span class="stl_418 stl_11 stl_164" style="word-spacing:-0.0352em;">4.2 Financial instruments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.5449em;top:10.4899em;"><span class="stl_288 stl_11 stl_543" style="word-spacing:-0.0467em;">Contractual cash flows  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.8993em;top:11.3168em;"><span class="stl_288 stl_11 stl_631">Carrying  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:12.0743em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.1418em;top:12.0668em;"><span class="stl_288 stl_11 stl_823">0</span><span class="stl_288 stl_11 stl_790">-</span><span class="stl_288 stl_11 stl_76" style="word-spacing:-0.026em;">1 year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.0311em;top:12.0668em;"><span class="stl_288 stl_11 stl_146" style="word-spacing:-0.032em;">1-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.3311em;top:12.0668em;"><span class="stl_288 stl_11 stl_361" style="word-spacing:-0.037em;">&gt; 5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8699em;top:12.0668em;"><span class="stl_288 stl_11 stl_579">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.2368em;top:12.0668em;"><span class="stl_288 stl_11 stl_271">amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:13.6181em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:14.5468em;"><span class="stl_287 stl_08 stl_75" style="word-spacing:-0.0294em;">Trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.538em;top:14.5468em;"><span class="stl_287 stl_08 stl_404">834  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7168em;top:14.5468em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:14.5468em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2943em;top:14.5468em;"><span class="stl_287 stl_08 stl_404">834  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5455em;top:14.5468em;"><span class="stl_287 stl_08 stl_404">834  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:15.4681em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0403em;">Other receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.9211em;top:15.4681em;"><span class="stl_287 stl_08 stl_146">30  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.203em;top:15.4681em;"><span class="stl_287 stl_08 stl_337">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:15.4681em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6724em;top:15.4681em;"><span class="stl_287 stl_08 stl_432">40  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9243em;top:15.4681em;"><span class="stl_287 stl_08 stl_432">40  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:16.3893em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0414em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.543em;top:16.3893em;"><span class="stl_287 stl_08 stl_361">866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7168em;top:16.3893em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:16.3893em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2986em;top:16.3893em;"><span class="stl_287 stl_08 stl_361">866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5499em;top:16.3893em;"><span class="stl_287 stl_08 stl_361">866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:17.3031em;"><span class="stl_288 stl_11 stl_309" style="word-spacing:-0.0405em;">Financial assets measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:18.0531em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.8674em;top:18.0531em;"><span class="stl_288 stl_11 stl_920">1,730  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.1224em;top:18.0531em;"><span class="stl_288 stl_11 stl_356">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9605em;top:18.0531em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.648em;top:18.0531em;"><span class="stl_288 stl_11 stl_71">1,740  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8993em;top:18.0531em;"><span class="stl_288 stl_11 stl_71">1,740  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:19.4937em;"><span class="stl_287 stl_08 stl_101" style="word-spacing:-0.0245em;">Trade payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.578em;top:19.4937em;"><span class="stl_287 stl_08 stl_448">572  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7168em;top:19.4937em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:19.4937em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3336em;top:19.4937em;"><span class="stl_287 stl_08 stl_448">572  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5855em;top:19.4937em;"><span class="stl_287 stl_08 stl_448">572  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:20.4149em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">Other payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.5711em;top:20.4149em;"><span class="stl_287 stl_08 stl_331">441  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.5474em;top:20.4149em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7993em;top:20.4149em;"><span class="stl_287 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.283em;top:20.4149em;"><span class="stl_287 stl_08 stl_300">448  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5343em;top:20.4149em;"><span class="stl_287 stl_08 stl_300">448  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.778em;top:21.3287em;"><span class="stl_288 stl_11 stl_361" style="word-spacing:-0.037em;">Financial liabilities measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.778em;top:22.0787em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.8899em;top:22.0787em;"><span class="stl_288 stl_11 stl_898">1,013  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.5074em;top:22.0787em;"><span class="stl_288 stl_11 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7593em;top:22.0787em;"><span class="stl_288 stl_11 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.6024em;top:22.0787em;"><span class="stl_288 stl_11 stl_657">1,020  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8536em;top:22.0787em;"><span class="stl_288 stl_11 stl_657">1,020  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7774em;top:24.0237em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7774em;top:24.9524em;"><span class="stl_287 stl_08 stl_75" style="word-spacing:-0.0294em;">Trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.5818em;top:24.9524em;"><span class="stl_287 stl_08 stl_261">745  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7149em;top:24.9524em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9668em;top:24.9524em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3374em;top:24.9524em;"><span class="stl_287 stl_08 stl_261">745  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5886em;top:24.9524em;"><span class="stl_287 stl_08 stl_261">745  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7768em;top:25.8737em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0403em;">Other receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.9386em;top:25.8737em;"><span class="stl_287 stl_08 stl_63">21  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.1786em;top:25.8737em;"><span class="stl_287 stl_08 stl_328">23  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9661em;top:25.8737em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6611em;top:25.8737em;"><span class="stl_287 stl_08 stl_523">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.913em;top:25.8737em;"><span class="stl_287 stl_08 stl_523">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7761em;top:26.7949em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0414em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.6293em;top:26.7949em;"><span class="stl_287 stl_08 stl_302">615  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7136em;top:26.7949em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9655em;top:26.7949em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3849em;top:26.7949em;"><span class="stl_287 stl_08 stl_302">615  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6361em;top:26.7949em;"><span class="stl_287 stl_08 stl_302">615  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:27.7087em;"><span class="stl_288 stl_11 stl_309" style="word-spacing:-0.0405em;">Financial assets measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:28.4587em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.8493em;top:28.4587em;"><span class="stl_288 stl_11 stl_217">1,381  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.0943em;top:28.4587em;"><span class="stl_288 stl_11 stl_137">23  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9561em;top:28.4587em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5793em;top:28.4587em;"><span class="stl_288 stl_11 stl_36">1,404  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8311em;top:28.4587em;"><span class="stl_288 stl_11 stl_36">1,404  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:29.8993em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0396em;">Derivative financial instruments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:30.6493em;"><span class="stl_287 stl_08 stl_270" style="word-spacing:-0.0087em;">(level 2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.2924em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.713em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9649em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.048em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2999em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7749em;top:31.563em;"><span class="stl_288 stl_11 stl_375" style="word-spacing:-0.0428em;">Financial assets stated at fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7749em;top:32.3131em;"><span class="stl_288 stl_11 stl_31" style="word-spacing:-0.042em;">in the income statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.2524em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7036em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9555em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.008em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2599em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7743em;top:33.7537em;"><span class="stl_287 stl_08 stl_101" style="word-spacing:-0.0245em;">Trade payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.558em;top:33.7537em;"><span class="stl_287 stl_08 stl_214">490  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7118em;top:33.7537em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9636em;top:33.7537em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3136em;top:33.7537em;"><span class="stl_287 stl_08 stl_214">490  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5655em;top:33.7537em;"><span class="stl_287 stl_08 stl_214">490  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7736em;top:34.6749em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">Other payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.5699em;top:34.6749em;"><span class="stl_287 stl_08 stl_320">428  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.543em;top:34.6749em;"><span class="stl_287 stl_08 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7949em;top:34.6749em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2961em;top:34.6749em;"><span class="stl_287 stl_08 stl_45">439  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.548em;top:34.6749em;"><span class="stl_287 stl_08 stl_45">439  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7743em;top:35.5887em;"><span class="stl_288 stl_11 stl_361" style="word-spacing:-0.037em;">Financial liabilities measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7743em;top:36.3387em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.4655em;top:36.3387em;"><span class="stl_288 stl_11 stl_435">918  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.5036em;top:36.3387em;"><span class="stl_288 stl_11 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7555em;top:36.3387em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1874em;top:36.3387em;"><span class="stl_288 stl_11 stl_126">929  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.438em;top:36.3387em;"><span class="stl_288 stl_11 stl_126">929  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.5254em;"><span class="stl_288 stl_11 stl_207" style="word-spacing:-0.0412em;">Financial instruments measured at fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:11.2829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0353em;">At the end of the financial year, it is assessed whether an instrument has moved between the levels of the fair  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0329em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0332em;">value hierarchy. There have been no movements between the various levels this year or the year before.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:13.5254em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0418em;">Methods and assumptions for the determination of fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.2785em;"><span class="stl_438 stl_92 stl_528" style="word-spacing:-0.0444em;">Derivative financial instruments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.0329em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Derivative financial instruments are recognized at fair value based on a valuation report prepared by an exter-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.7829em;"><span class="stl_287 stl_08 stl_207" style="word-spacing:-0.0413em;">nal party who valuates the instruments based on discounted cash flows and other inputs based on observ-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:16.5329em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0337em;">able market data.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:18.0254em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:18.7829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">Debt to credit institutions, etc., is recognized at the date of borrowing at fair value corresponding to the pro-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:19.5329em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">ceeds received, less transaction costs paid. In subsequent periods, the financial liabilities are measured at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:20.2829em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">amortized cost using the ‘effective rate of interest method’ so that the difference between the proceeds and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:21.0329em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0344em;">the nominal value is recognized under financial expenses in the income statement for the duration of the loan  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:21.7829em;"><span class="stl_287 stl_08 stl_372">term.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.2829em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">Derivative financial instruments are recognized as from the transaction date and are measured at fair value in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.0329em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0355em;">the balance sheet. The fair value of derivative financial instruments is calculated on the basis of current mar-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.7829em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0338em;">ket data, as well as accepted valuation methods.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.2829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">Changes in the fair value of derivative financial instruments are recognized on an ongoing basis in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.0329em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0384em;">income statement.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.5329em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0371em;">Other liabilities are measured at amortized cost.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:30.0329em;"><span class="stl_287 stl_08 stl_127" style="word-spacing:-0.029em;">Fair value hierarchy is as following:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:31.5329em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.036em;">Level 1: The fair value of financial instruments traded on active markets is based on the listed market prices at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7938em;top:32.2829em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0325em;">the balance sheet date.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7938em;top:33.0329em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">The listed price is used for the Group’s financial assets as the current purchase price.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:34.5329em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0324em;">Level 2: The fair value of financial instruments which are not traded in an active market (e.g., over-the-counter  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8257em;top:35.2829em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0349em;">derivatives), is determined using ordinary valuation methods.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:36.7829em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">Level 3: If no observable market data is available, the instrument is included in the last category.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2258em;"><span class="stl_418 stl_11 stl_164" style="word-spacing:-0.0352em;">4.2 Financial instruments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.5449em;top:10.4899em;"><span class="stl_288 stl_11 stl_543" style="word-spacing:-0.0467em;">Contractual cash flows  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.8993em;top:11.3168em;"><span class="stl_288 stl_11 stl_631">Carrying  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:12.0743em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.1418em;top:12.0668em;"><span class="stl_288 stl_11 stl_823">0</span><span class="stl_288 stl_11 stl_790">-</span><span class="stl_288 stl_11 stl_76" style="word-spacing:-0.026em;">1 year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.0311em;top:12.0668em;"><span class="stl_288 stl_11 stl_146" style="word-spacing:-0.032em;">1-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.3311em;top:12.0668em;"><span class="stl_288 stl_11 stl_361" style="word-spacing:-0.037em;">&gt; 5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8699em;top:12.0668em;"><span class="stl_288 stl_11 stl_579">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.2368em;top:12.0668em;"><span class="stl_288 stl_11 stl_271">amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:13.6181em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:14.5468em;"><span class="stl_287 stl_08 stl_75" style="word-spacing:-0.0294em;">Trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.538em;top:14.5468em;"><span class="stl_287 stl_08 stl_404">834  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7168em;top:14.5468em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:14.5468em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2943em;top:14.5468em;"><span class="stl_287 stl_08 stl_404">834  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5455em;top:14.5468em;"><span class="stl_287 stl_08 stl_404">834  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:15.4681em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0403em;">Other receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.9211em;top:15.4681em;"><span class="stl_287 stl_08 stl_146">30  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.203em;top:15.4681em;"><span class="stl_287 stl_08 stl_337">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:15.4681em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6724em;top:15.4681em;"><span class="stl_287 stl_08 stl_432">40  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9243em;top:15.4681em;"><span class="stl_287 stl_08 stl_432">40  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:16.3893em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0414em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.543em;top:16.3893em;"><span class="stl_287 stl_08 stl_361">866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7168em;top:16.3893em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:16.3893em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2986em;top:16.3893em;"><span class="stl_287 stl_08 stl_361">866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5499em;top:16.3893em;"><span class="stl_287 stl_08 stl_361">866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:17.3031em;"><span class="stl_288 stl_11 stl_309" style="word-spacing:-0.0405em;">Financial assets measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:18.0531em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.8674em;top:18.0531em;"><span class="stl_288 stl_11 stl_920">1,730  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.1224em;top:18.0531em;"><span class="stl_288 stl_11 stl_356">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9605em;top:18.0531em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.648em;top:18.0531em;"><span class="stl_288 stl_11 stl_71">1,740  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8993em;top:18.0531em;"><span class="stl_288 stl_11 stl_71">1,740  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:19.4937em;"><span class="stl_287 stl_08 stl_101" style="word-spacing:-0.0245em;">Trade payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.578em;top:19.4937em;"><span class="stl_287 stl_08 stl_448">572  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7168em;top:19.4937em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:19.4937em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3336em;top:19.4937em;"><span class="stl_287 stl_08 stl_448">572  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5855em;top:19.4937em;"><span class="stl_287 stl_08 stl_448">572  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:20.4149em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">Other payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.5711em;top:20.4149em;"><span class="stl_287 stl_08 stl_331">441  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.5474em;top:20.4149em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7993em;top:20.4149em;"><span class="stl_287 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.283em;top:20.4149em;"><span class="stl_287 stl_08 stl_300">448  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5343em;top:20.4149em;"><span class="stl_287 stl_08 stl_300">448  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.778em;top:21.3287em;"><span class="stl_288 stl_11 stl_361" style="word-spacing:-0.037em;">Financial liabilities measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.778em;top:22.0787em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.8899em;top:22.0787em;"><span class="stl_288 stl_11 stl_898">1,013  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.5074em;top:22.0787em;"><span class="stl_288 stl_11 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7593em;top:22.0787em;"><span class="stl_288 stl_11 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.6024em;top:22.0787em;"><span class="stl_288 stl_11 stl_657">1,020  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8536em;top:22.0787em;"><span class="stl_288 stl_11 stl_657">1,020  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7774em;top:24.0237em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7774em;top:24.9524em;"><span class="stl_287 stl_08 stl_75" style="word-spacing:-0.0294em;">Trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.5818em;top:24.9524em;"><span class="stl_287 stl_08 stl_261">745  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7149em;top:24.9524em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9668em;top:24.9524em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3374em;top:24.9524em;"><span class="stl_287 stl_08 stl_261">745  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5886em;top:24.9524em;"><span class="stl_287 stl_08 stl_261">745  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7768em;top:25.8737em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0403em;">Other receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.9386em;top:25.8737em;"><span class="stl_287 stl_08 stl_63">21  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.1786em;top:25.8737em;"><span class="stl_287 stl_08 stl_328">23  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9661em;top:25.8737em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6611em;top:25.8737em;"><span class="stl_287 stl_08 stl_523">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.913em;top:25.8737em;"><span class="stl_287 stl_08 stl_523">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7761em;top:26.7949em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0414em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.6293em;top:26.7949em;"><span class="stl_287 stl_08 stl_302">615  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7136em;top:26.7949em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9655em;top:26.7949em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3849em;top:26.7949em;"><span class="stl_287 stl_08 stl_302">615  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6361em;top:26.7949em;"><span class="stl_287 stl_08 stl_302">615  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:27.7087em;"><span class="stl_288 stl_11 stl_309" style="word-spacing:-0.0405em;">Financial assets measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:28.4587em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.8493em;top:28.4587em;"><span class="stl_288 stl_11 stl_217">1,381  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.0943em;top:28.4587em;"><span class="stl_288 stl_11 stl_137">23  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9561em;top:28.4587em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5793em;top:28.4587em;"><span class="stl_288 stl_11 stl_36">1,404  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8311em;top:28.4587em;"><span class="stl_288 stl_11 stl_36">1,404  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:29.8993em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0396em;">Derivative financial instruments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:30.6493em;"><span class="stl_287 stl_08 stl_270" style="word-spacing:-0.0087em;">(level 2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.2924em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.713em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9649em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.048em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2999em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7749em;top:31.563em;"><span class="stl_288 stl_11 stl_375" style="word-spacing:-0.0428em;">Financial assets stated at fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7749em;top:32.3131em;"><span class="stl_288 stl_11 stl_31" style="word-spacing:-0.042em;">in the income statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.2524em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7036em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9555em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.008em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2599em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7743em;top:33.7537em;"><span class="stl_287 stl_08 stl_101" style="word-spacing:-0.0245em;">Trade payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.558em;top:33.7537em;"><span class="stl_287 stl_08 stl_214">490  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7118em;top:33.7537em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9636em;top:33.7537em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3136em;top:33.7537em;"><span class="stl_287 stl_08 stl_214">490  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5655em;top:33.7537em;"><span class="stl_287 stl_08 stl_214">490  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7736em;top:34.6749em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">Other payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.5699em;top:34.6749em;"><span class="stl_287 stl_08 stl_320">428  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.543em;top:34.6749em;"><span class="stl_287 stl_08 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7949em;top:34.6749em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2961em;top:34.6749em;"><span class="stl_287 stl_08 stl_45">439  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.548em;top:34.6749em;"><span class="stl_287 stl_08 stl_45">439  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7743em;top:35.5887em;"><span class="stl_288 stl_11 stl_361" style="word-spacing:-0.037em;">Financial liabilities measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7743em;top:36.3387em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.4655em;top:36.3387em;"><span class="stl_288 stl_11 stl_435">918  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.5036em;top:36.3387em;"><span class="stl_288 stl_11 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7555em;top:36.3387em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1874em;top:36.3387em;"><span class="stl_288 stl_11 stl_126">929  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.438em;top:36.3387em;"><span class="stl_288 stl_11 stl_126">929  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.5254em;"><span class="stl_288 stl_11 stl_207" style="word-spacing:-0.0412em;">Financial instruments measured at fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:11.2829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0353em;">At the end of the financial year, it is assessed whether an instrument has moved between the levels of the fair  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0329em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0332em;">value hierarchy. There have been no movements between the various levels this year or the year before.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:13.5254em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0418em;">Methods and assumptions for the determination of fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.2785em;"><span class="stl_438 stl_92 stl_528" style="word-spacing:-0.0444em;">Derivative financial instruments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.0329em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Derivative financial instruments are recognized at fair value based on a valuation report prepared by an exter-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.7829em;"><span class="stl_287 stl_08 stl_207" style="word-spacing:-0.0413em;">nal party who valuates the instruments based on discounted cash flows and other inputs based on observ-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:16.5329em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0337em;">able market data.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:18.0254em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:18.7829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">Debt to credit institutions, etc., is recognized at the date of borrowing at fair value corresponding to the pro-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:19.5329em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">ceeds received, less transaction costs paid. In subsequent periods, the financial liabilities are measured at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:20.2829em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">amortized cost using the ‘effective rate of interest method’ so that the difference between the proceeds and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:21.0329em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0344em;">the nominal value is recognized under financial expenses in the income statement for the duration of the loan  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:21.7829em;"><span class="stl_287 stl_08 stl_372">term.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.2829em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">Derivative financial instruments are recognized as from the transaction date and are measured at fair value in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.0329em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0355em;">the balance sheet. The fair value of derivative financial instruments is calculated on the basis of current mar-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.7829em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0338em;">ket data, as well as accepted valuation methods.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.2829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">Changes in the fair value of derivative financial instruments are recognized on an ongoing basis in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.0329em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0384em;">income statement.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.5329em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0371em;">Other liabilities are measured at amortized cost.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:30.0329em;"><span class="stl_287 stl_08 stl_127" style="word-spacing:-0.029em;">Fair value hierarchy is as following:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:31.5329em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.036em;">Level 1: The fair value of financial instruments traded on active markets is based on the listed market prices at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7938em;top:32.2829em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0325em;">the balance sheet date.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7938em;top:33.0329em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">The listed price is used for the Group’s financial assets as the current purchase price.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:34.5329em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0324em;">Level 2: The fair value of financial instruments which are not traded in an active market (e.g., over-the-counter  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8257em;top:35.2829em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0349em;">derivatives), is determined using ordinary valuation methods.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:36.7829em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">Level 3: If no observable market data is available, the instrument is included in the last category.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2258em;"><span class="stl_418 stl_11 stl_164" style="word-spacing:-0.0352em;">4.2 Financial instruments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.5449em;top:10.4899em;"><span class="stl_288 stl_11 stl_543" style="word-spacing:-0.0467em;">Contractual cash flows  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.8993em;top:11.3168em;"><span class="stl_288 stl_11 stl_631">Carrying  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:12.0743em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.1418em;top:12.0668em;"><span class="stl_288 stl_11 stl_823">0</span><span class="stl_288 stl_11 stl_790">-</span><span class="stl_288 stl_11 stl_76" style="word-spacing:-0.026em;">1 year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.0311em;top:12.0668em;"><span class="stl_288 stl_11 stl_146" style="word-spacing:-0.032em;">1-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.3311em;top:12.0668em;"><span class="stl_288 stl_11 stl_361" style="word-spacing:-0.037em;">&gt; 5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8699em;top:12.0668em;"><span class="stl_288 stl_11 stl_579">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.2368em;top:12.0668em;"><span class="stl_288 stl_11 stl_271">amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:13.6181em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:14.5468em;"><span class="stl_287 stl_08 stl_75" style="word-spacing:-0.0294em;">Trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.538em;top:14.5468em;"><span class="stl_287 stl_08 stl_404">834  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7168em;top:14.5468em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:14.5468em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2943em;top:14.5468em;"><span class="stl_287 stl_08 stl_404">834  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5455em;top:14.5468em;"><span class="stl_287 stl_08 stl_404">834  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:15.4681em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0403em;">Other receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.9211em;top:15.4681em;"><span class="stl_287 stl_08 stl_146">30  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.203em;top:15.4681em;"><span class="stl_287 stl_08 stl_337">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:15.4681em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6724em;top:15.4681em;"><span class="stl_287 stl_08 stl_432">40  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9243em;top:15.4681em;"><span class="stl_287 stl_08 stl_432">40  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:16.3893em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0414em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.543em;top:16.3893em;"><span class="stl_287 stl_08 stl_361">866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7168em;top:16.3893em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:16.3893em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2986em;top:16.3893em;"><span class="stl_287 stl_08 stl_361">866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5499em;top:16.3893em;"><span class="stl_287 stl_08 stl_361">866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:17.3031em;"><span class="stl_288 stl_11 stl_309" style="word-spacing:-0.0405em;">Financial assets measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:18.0531em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.8674em;top:18.0531em;"><span class="stl_288 stl_11 stl_920">1,730  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.1224em;top:18.0531em;"><span class="stl_288 stl_11 stl_356">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9605em;top:18.0531em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.648em;top:18.0531em;"><span class="stl_288 stl_11 stl_71">1,740  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8993em;top:18.0531em;"><span class="stl_288 stl_11 stl_71">1,740  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:19.4937em;"><span class="stl_287 stl_08 stl_101" style="word-spacing:-0.0245em;">Trade payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.578em;top:19.4937em;"><span class="stl_287 stl_08 stl_448">572  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7168em;top:19.4937em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:19.4937em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3336em;top:19.4937em;"><span class="stl_287 stl_08 stl_448">572  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5855em;top:19.4937em;"><span class="stl_287 stl_08 stl_448">572  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:20.4149em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">Other payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.5711em;top:20.4149em;"><span class="stl_287 stl_08 stl_331">441  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.5474em;top:20.4149em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7993em;top:20.4149em;"><span class="stl_287 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.283em;top:20.4149em;"><span class="stl_287 stl_08 stl_300">448  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5343em;top:20.4149em;"><span class="stl_287 stl_08 stl_300">448  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.778em;top:21.3287em;"><span class="stl_288 stl_11 stl_361" style="word-spacing:-0.037em;">Financial liabilities measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.778em;top:22.0787em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.8899em;top:22.0787em;"><span class="stl_288 stl_11 stl_898">1,013  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.5074em;top:22.0787em;"><span class="stl_288 stl_11 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7593em;top:22.0787em;"><span class="stl_288 stl_11 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.6024em;top:22.0787em;"><span class="stl_288 stl_11 stl_657">1,020  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8536em;top:22.0787em;"><span class="stl_288 stl_11 stl_657">1,020  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7774em;top:24.0237em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7774em;top:24.9524em;"><span class="stl_287 stl_08 stl_75" style="word-spacing:-0.0294em;">Trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.5818em;top:24.9524em;"><span class="stl_287 stl_08 stl_261">745  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7149em;top:24.9524em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9668em;top:24.9524em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3374em;top:24.9524em;"><span class="stl_287 stl_08 stl_261">745  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5886em;top:24.9524em;"><span class="stl_287 stl_08 stl_261">745  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7768em;top:25.8737em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0403em;">Other receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.9386em;top:25.8737em;"><span class="stl_287 stl_08 stl_63">21  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.1786em;top:25.8737em;"><span class="stl_287 stl_08 stl_328">23  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9661em;top:25.8737em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6611em;top:25.8737em;"><span class="stl_287 stl_08 stl_523">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.913em;top:25.8737em;"><span class="stl_287 stl_08 stl_523">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7761em;top:26.7949em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0414em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.6293em;top:26.7949em;"><span class="stl_287 stl_08 stl_302">615  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7136em;top:26.7949em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9655em;top:26.7949em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3849em;top:26.7949em;"><span class="stl_287 stl_08 stl_302">615  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6361em;top:26.7949em;"><span class="stl_287 stl_08 stl_302">615  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:27.7087em;"><span class="stl_288 stl_11 stl_309" style="word-spacing:-0.0405em;">Financial assets measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:28.4587em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.8493em;top:28.4587em;"><span class="stl_288 stl_11 stl_217">1,381  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.0943em;top:28.4587em;"><span class="stl_288 stl_11 stl_137">23  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9561em;top:28.4587em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5793em;top:28.4587em;"><span class="stl_288 stl_11 stl_36">1,404  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8311em;top:28.4587em;"><span class="stl_288 stl_11 stl_36">1,404  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:29.8993em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0396em;">Derivative financial instruments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:30.6493em;"><span class="stl_287 stl_08 stl_270" style="word-spacing:-0.0087em;">(level 2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.2924em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.713em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9649em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.048em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2999em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7749em;top:31.563em;"><span class="stl_288 stl_11 stl_375" style="word-spacing:-0.0428em;">Financial assets stated at fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7749em;top:32.3131em;"><span class="stl_288 stl_11 stl_31" style="word-spacing:-0.042em;">in the income statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.2524em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7036em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9555em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.008em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2599em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7743em;top:33.7537em;"><span class="stl_287 stl_08 stl_101" style="word-spacing:-0.0245em;">Trade payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.558em;top:33.7537em;"><span class="stl_287 stl_08 stl_214">490  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7118em;top:33.7537em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9636em;top:33.7537em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3136em;top:33.7537em;"><span class="stl_287 stl_08 stl_214">490  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5655em;top:33.7537em;"><span class="stl_287 stl_08 stl_214">490  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7736em;top:34.6749em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">Other payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.5699em;top:34.6749em;"><span class="stl_287 stl_08 stl_320">428  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.543em;top:34.6749em;"><span class="stl_287 stl_08 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7949em;top:34.6749em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2961em;top:34.6749em;"><span class="stl_287 stl_08 stl_45">439  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.548em;top:34.6749em;"><span class="stl_287 stl_08 stl_45">439  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7743em;top:35.5887em;"><span class="stl_288 stl_11 stl_361" style="word-spacing:-0.037em;">Financial liabilities measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7743em;top:36.3387em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.4655em;top:36.3387em;"><span class="stl_288 stl_11 stl_435">918  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.5036em;top:36.3387em;"><span class="stl_288 stl_11 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7555em;top:36.3387em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1874em;top:36.3387em;"><span class="stl_288 stl_11 stl_126">929  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.438em;top:36.3387em;"><span class="stl_288 stl_11 stl_126">929  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.5254em;"><span class="stl_288 stl_11 stl_207" style="word-spacing:-0.0412em;">Financial instruments measured at fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:11.2829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0353em;">At the end of the financial year, it is assessed whether an instrument has moved between the levels of the fair  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0329em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0332em;">value hierarchy. There have been no movements between the various levels this year or the year before.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:13.5254em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0418em;">Methods and assumptions for the determination of fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.2785em;"><span class="stl_438 stl_92 stl_528" style="word-spacing:-0.0444em;">Derivative financial instruments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.0329em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Derivative financial instruments are recognized at fair value based on a valuation report prepared by an exter-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.7829em;"><span class="stl_287 stl_08 stl_207" style="word-spacing:-0.0413em;">nal party who valuates the instruments based on discounted cash flows and other inputs based on observ-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:16.5329em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0337em;">able market data.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:18.0254em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:18.7829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">Debt to credit institutions, etc., is recognized at the date of borrowing at fair value corresponding to the pro-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:19.5329em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">ceeds received, less transaction costs paid. In subsequent periods, the financial liabilities are measured at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:20.2829em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">amortized cost using the ‘effective rate of interest method’ so that the difference between the proceeds and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:21.0329em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0344em;">the nominal value is recognized under financial expenses in the income statement for the duration of the loan  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:21.7829em;"><span class="stl_287 stl_08 stl_372">term.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.2829em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">Derivative financial instruments are recognized as from the transaction date and are measured at fair value in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.0329em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0355em;">the balance sheet. The fair value of derivative financial instruments is calculated on the basis of current mar-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.7829em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0338em;">ket data, as well as accepted valuation methods.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.2829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">Changes in the fair value of derivative financial instruments are recognized on an ongoing basis in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.0329em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0384em;">income statement.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.5329em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0371em;">Other liabilities are measured at amortized cost.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:30.0329em;"><span class="stl_287 stl_08 stl_127" style="word-spacing:-0.029em;">Fair value hierarchy is as following:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:31.5329em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.036em;">Level 1: The fair value of financial instruments traded on active markets is based on the listed market prices at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7938em;top:32.2829em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0325em;">the balance sheet date.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7938em;top:33.0329em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">The listed price is used for the Group’s financial assets as the current purchase price.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:34.5329em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0324em;">Level 2: The fair value of financial instruments which are not traded in an active market (e.g., over-the-counter  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8257em;top:35.2829em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0349em;">derivatives), is determined using ordinary valuation methods.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:36.7829em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">Level 3: If no observable market data is available, the instrument is included in the last category.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2258em;"><span class="stl_418 stl_11 stl_164" style="word-spacing:-0.0352em;">4.2 Financial instruments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.5449em;top:10.4899em;"><span class="stl_288 stl_11 stl_543" style="word-spacing:-0.0467em;">Contractual cash flows  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.8993em;top:11.3168em;"><span class="stl_288 stl_11 stl_631">Carrying  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:12.0743em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.1418em;top:12.0668em;"><span class="stl_288 stl_11 stl_823">0</span><span class="stl_288 stl_11 stl_790">-</span><span class="stl_288 stl_11 stl_76" style="word-spacing:-0.026em;">1 year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.0311em;top:12.0668em;"><span class="stl_288 stl_11 stl_146" style="word-spacing:-0.032em;">1-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.3311em;top:12.0668em;"><span class="stl_288 stl_11 stl_361" style="word-spacing:-0.037em;">&gt; 5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8699em;top:12.0668em;"><span class="stl_288 stl_11 stl_579">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.2368em;top:12.0668em;"><span class="stl_288 stl_11 stl_271">amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:13.6181em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:14.5468em;"><span class="stl_287 stl_08 stl_75" style="word-spacing:-0.0294em;">Trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.538em;top:14.5468em;"><span class="stl_287 stl_08 stl_404">834  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7168em;top:14.5468em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:14.5468em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2943em;top:14.5468em;"><span class="stl_287 stl_08 stl_404">834  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5455em;top:14.5468em;"><span class="stl_287 stl_08 stl_404">834  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:15.4681em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0403em;">Other receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.9211em;top:15.4681em;"><span class="stl_287 stl_08 stl_146">30  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.203em;top:15.4681em;"><span class="stl_287 stl_08 stl_337">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:15.4681em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6724em;top:15.4681em;"><span class="stl_287 stl_08 stl_432">40  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9243em;top:15.4681em;"><span class="stl_287 stl_08 stl_432">40  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:16.3893em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0414em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.543em;top:16.3893em;"><span class="stl_287 stl_08 stl_361">866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7168em;top:16.3893em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:16.3893em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2986em;top:16.3893em;"><span class="stl_287 stl_08 stl_361">866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5499em;top:16.3893em;"><span class="stl_287 stl_08 stl_361">866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:17.3031em;"><span class="stl_288 stl_11 stl_309" style="word-spacing:-0.0405em;">Financial assets measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:18.0531em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.8674em;top:18.0531em;"><span class="stl_288 stl_11 stl_920">1,730  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.1224em;top:18.0531em;"><span class="stl_288 stl_11 stl_356">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9605em;top:18.0531em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.648em;top:18.0531em;"><span class="stl_288 stl_11 stl_71">1,740  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8993em;top:18.0531em;"><span class="stl_288 stl_11 stl_71">1,740  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:19.4937em;"><span class="stl_287 stl_08 stl_101" style="word-spacing:-0.0245em;">Trade payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.578em;top:19.4937em;"><span class="stl_287 stl_08 stl_448">572  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7168em;top:19.4937em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:19.4937em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3336em;top:19.4937em;"><span class="stl_287 stl_08 stl_448">572  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5855em;top:19.4937em;"><span class="stl_287 stl_08 stl_448">572  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:20.4149em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">Other payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.5711em;top:20.4149em;"><span class="stl_287 stl_08 stl_331">441  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.5474em;top:20.4149em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7993em;top:20.4149em;"><span class="stl_287 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.283em;top:20.4149em;"><span class="stl_287 stl_08 stl_300">448  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5343em;top:20.4149em;"><span class="stl_287 stl_08 stl_300">448  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.778em;top:21.3287em;"><span class="stl_288 stl_11 stl_361" style="word-spacing:-0.037em;">Financial liabilities measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.778em;top:22.0787em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.8899em;top:22.0787em;"><span class="stl_288 stl_11 stl_898">1,013  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.5074em;top:22.0787em;"><span class="stl_288 stl_11 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7593em;top:22.0787em;"><span class="stl_288 stl_11 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.6024em;top:22.0787em;"><span class="stl_288 stl_11 stl_657">1,020  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8536em;top:22.0787em;"><span class="stl_288 stl_11 stl_657">1,020  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7774em;top:24.0237em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7774em;top:24.9524em;"><span class="stl_287 stl_08 stl_75" style="word-spacing:-0.0294em;">Trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.5818em;top:24.9524em;"><span class="stl_287 stl_08 stl_261">745  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7149em;top:24.9524em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9668em;top:24.9524em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3374em;top:24.9524em;"><span class="stl_287 stl_08 stl_261">745  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5886em;top:24.9524em;"><span class="stl_287 stl_08 stl_261">745  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7768em;top:25.8737em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0403em;">Other receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.9386em;top:25.8737em;"><span class="stl_287 stl_08 stl_63">21  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.1786em;top:25.8737em;"><span class="stl_287 stl_08 stl_328">23  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9661em;top:25.8737em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6611em;top:25.8737em;"><span class="stl_287 stl_08 stl_523">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.913em;top:25.8737em;"><span class="stl_287 stl_08 stl_523">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7761em;top:26.7949em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0414em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.6293em;top:26.7949em;"><span class="stl_287 stl_08 stl_302">615  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7136em;top:26.7949em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9655em;top:26.7949em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3849em;top:26.7949em;"><span class="stl_287 stl_08 stl_302">615  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6361em;top:26.7949em;"><span class="stl_287 stl_08 stl_302">615  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:27.7087em;"><span class="stl_288 stl_11 stl_309" style="word-spacing:-0.0405em;">Financial assets measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:28.4587em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.8493em;top:28.4587em;"><span class="stl_288 stl_11 stl_217">1,381  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.0943em;top:28.4587em;"><span class="stl_288 stl_11 stl_137">23  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9561em;top:28.4587em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5793em;top:28.4587em;"><span class="stl_288 stl_11 stl_36">1,404  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8311em;top:28.4587em;"><span class="stl_288 stl_11 stl_36">1,404  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:29.8993em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0396em;">Derivative financial instruments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:30.6493em;"><span class="stl_287 stl_08 stl_270" style="word-spacing:-0.0087em;">(level 2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.2924em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.713em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9649em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.048em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2999em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7749em;top:31.563em;"><span class="stl_288 stl_11 stl_375" style="word-spacing:-0.0428em;">Financial assets stated at fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7749em;top:32.3131em;"><span class="stl_288 stl_11 stl_31" style="word-spacing:-0.042em;">in the income statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.2524em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7036em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9555em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.008em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2599em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7743em;top:33.7537em;"><span class="stl_287 stl_08 stl_101" style="word-spacing:-0.0245em;">Trade payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.558em;top:33.7537em;"><span class="stl_287 stl_08 stl_214">490  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7118em;top:33.7537em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9636em;top:33.7537em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3136em;top:33.7537em;"><span class="stl_287 stl_08 stl_214">490  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5655em;top:33.7537em;"><span class="stl_287 stl_08 stl_214">490  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7736em;top:34.6749em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">Other payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.5699em;top:34.6749em;"><span class="stl_287 stl_08 stl_320">428  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.543em;top:34.6749em;"><span class="stl_287 stl_08 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7949em;top:34.6749em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2961em;top:34.6749em;"><span class="stl_287 stl_08 stl_45">439  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.548em;top:34.6749em;"><span class="stl_287 stl_08 stl_45">439  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7743em;top:35.5887em;"><span class="stl_288 stl_11 stl_361" style="word-spacing:-0.037em;">Financial liabilities measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7743em;top:36.3387em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.4655em;top:36.3387em;"><span class="stl_288 stl_11 stl_435">918  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.5036em;top:36.3387em;"><span class="stl_288 stl_11 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7555em;top:36.3387em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1874em;top:36.3387em;"><span class="stl_288 stl_11 stl_126">929  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.438em;top:36.3387em;"><span class="stl_288 stl_11 stl_126">929  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.5254em;"><span class="stl_288 stl_11 stl_207" style="word-spacing:-0.0412em;">Financial instruments measured at fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:11.2829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0353em;">At the end of the financial year, it is assessed whether an instrument has moved between the levels of the fair  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0329em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0332em;">value hierarchy. There have been no movements between the various levels this year or the year before.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:13.5254em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0418em;">Methods and assumptions for the determination of fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.2785em;"><span class="stl_438 stl_92 stl_528" style="word-spacing:-0.0444em;">Derivative financial instruments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.0329em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Derivative financial instruments are recognized at fair value based on a valuation report prepared by an exter-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.7829em;"><span class="stl_287 stl_08 stl_207" style="word-spacing:-0.0413em;">nal party who valuates the instruments based on discounted cash flows and other inputs based on observ-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:16.5329em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0337em;">able market data.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:18.0254em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:18.7829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">Debt to credit institutions, etc., is recognized at the date of borrowing at fair value corresponding to the pro-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:19.5329em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">ceeds received, less transaction costs paid. In subsequent periods, the financial liabilities are measured at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:20.2829em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">amortized cost using the ‘effective rate of interest method’ so that the difference between the proceeds and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:21.0329em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0344em;">the nominal value is recognized under financial expenses in the income statement for the duration of the loan  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:21.7829em;"><span class="stl_287 stl_08 stl_372">term.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.2829em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">Derivative financial instruments are recognized as from the transaction date and are measured at fair value in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.0329em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0355em;">the balance sheet. The fair value of derivative financial instruments is calculated on the basis of current mar-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.7829em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0338em;">ket data, as well as accepted valuation methods.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.2829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">Changes in the fair value of derivative financial instruments are recognized on an ongoing basis in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.0329em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0384em;">income statement.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.5329em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0371em;">Other liabilities are measured at amortized cost.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:30.0329em;"><span class="stl_287 stl_08 stl_127" style="word-spacing:-0.029em;">Fair value hierarchy is as following:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:31.5329em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.036em;">Level 1: The fair value of financial instruments traded on active markets is based on the listed market prices at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7938em;top:32.2829em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0325em;">the balance sheet date.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7938em;top:33.0329em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">The listed price is used for the Group’s financial assets as the current purchase price.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:34.5329em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0324em;">Level 2: The fair value of financial instruments which are not traded in an active market (e.g., over-the-counter  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8257em;top:35.2829em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0349em;">derivatives), is determined using ordinary valuation methods.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:36.7829em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">Level 3: If no observable market data is available, the instrument is included in the last category.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2258em;"><span class="stl_418 stl_11 stl_164" style="word-spacing:-0.0352em;">4.2 Financial instruments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.5449em;top:10.4899em;"><span class="stl_288 stl_11 stl_543" style="word-spacing:-0.0467em;">Contractual cash flows  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.8993em;top:11.3168em;"><span class="stl_288 stl_11 stl_631">Carrying  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:12.0743em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.1418em;top:12.0668em;"><span class="stl_288 stl_11 stl_823">0</span><span class="stl_288 stl_11 stl_790">-</span><span class="stl_288 stl_11 stl_76" style="word-spacing:-0.026em;">1 year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.0311em;top:12.0668em;"><span class="stl_288 stl_11 stl_146" style="word-spacing:-0.032em;">1-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.3311em;top:12.0668em;"><span class="stl_288 stl_11 stl_361" style="word-spacing:-0.037em;">&gt; 5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8699em;top:12.0668em;"><span class="stl_288 stl_11 stl_579">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.2368em;top:12.0668em;"><span class="stl_288 stl_11 stl_271">amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:13.6181em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:14.5468em;"><span class="stl_287 stl_08 stl_75" style="word-spacing:-0.0294em;">Trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.538em;top:14.5468em;"><span class="stl_287 stl_08 stl_404">834  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7168em;top:14.5468em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:14.5468em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2943em;top:14.5468em;"><span class="stl_287 stl_08 stl_404">834  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5455em;top:14.5468em;"><span class="stl_287 stl_08 stl_404">834  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:15.4681em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0403em;">Other receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.9211em;top:15.4681em;"><span class="stl_287 stl_08 stl_146">30  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.203em;top:15.4681em;"><span class="stl_287 stl_08 stl_337">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:15.4681em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6724em;top:15.4681em;"><span class="stl_287 stl_08 stl_432">40  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9243em;top:15.4681em;"><span class="stl_287 stl_08 stl_432">40  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:16.3893em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0414em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.543em;top:16.3893em;"><span class="stl_287 stl_08 stl_361">866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7168em;top:16.3893em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:16.3893em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2986em;top:16.3893em;"><span class="stl_287 stl_08 stl_361">866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5499em;top:16.3893em;"><span class="stl_287 stl_08 stl_361">866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:17.3031em;"><span class="stl_288 stl_11 stl_309" style="word-spacing:-0.0405em;">Financial assets measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:18.0531em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.8674em;top:18.0531em;"><span class="stl_288 stl_11 stl_920">1,730  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.1224em;top:18.0531em;"><span class="stl_288 stl_11 stl_356">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9605em;top:18.0531em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.648em;top:18.0531em;"><span class="stl_288 stl_11 stl_71">1,740  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8993em;top:18.0531em;"><span class="stl_288 stl_11 stl_71">1,740  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:19.4937em;"><span class="stl_287 stl_08 stl_101" style="word-spacing:-0.0245em;">Trade payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.578em;top:19.4937em;"><span class="stl_287 stl_08 stl_448">572  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7168em;top:19.4937em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:19.4937em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3336em;top:19.4937em;"><span class="stl_287 stl_08 stl_448">572  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5855em;top:19.4937em;"><span class="stl_287 stl_08 stl_448">572  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:20.4149em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">Other payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.5711em;top:20.4149em;"><span class="stl_287 stl_08 stl_331">441  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.5474em;top:20.4149em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7993em;top:20.4149em;"><span class="stl_287 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.283em;top:20.4149em;"><span class="stl_287 stl_08 stl_300">448  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5343em;top:20.4149em;"><span class="stl_287 stl_08 stl_300">448  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.778em;top:21.3287em;"><span class="stl_288 stl_11 stl_361" style="word-spacing:-0.037em;">Financial liabilities measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.778em;top:22.0787em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.8899em;top:22.0787em;"><span class="stl_288 stl_11 stl_898">1,013  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.5074em;top:22.0787em;"><span class="stl_288 stl_11 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7593em;top:22.0787em;"><span class="stl_288 stl_11 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.6024em;top:22.0787em;"><span class="stl_288 stl_11 stl_657">1,020  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8536em;top:22.0787em;"><span class="stl_288 stl_11 stl_657">1,020  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7774em;top:24.0237em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7774em;top:24.9524em;"><span class="stl_287 stl_08 stl_75" style="word-spacing:-0.0294em;">Trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.5818em;top:24.9524em;"><span class="stl_287 stl_08 stl_261">745  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7149em;top:24.9524em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9668em;top:24.9524em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3374em;top:24.9524em;"><span class="stl_287 stl_08 stl_261">745  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5886em;top:24.9524em;"><span class="stl_287 stl_08 stl_261">745  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7768em;top:25.8737em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0403em;">Other receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.9386em;top:25.8737em;"><span class="stl_287 stl_08 stl_63">21  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.1786em;top:25.8737em;"><span class="stl_287 stl_08 stl_328">23  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9661em;top:25.8737em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6611em;top:25.8737em;"><span class="stl_287 stl_08 stl_523">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.913em;top:25.8737em;"><span class="stl_287 stl_08 stl_523">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7761em;top:26.7949em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0414em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.6293em;top:26.7949em;"><span class="stl_287 stl_08 stl_302">615  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7136em;top:26.7949em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9655em;top:26.7949em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3849em;top:26.7949em;"><span class="stl_287 stl_08 stl_302">615  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6361em;top:26.7949em;"><span class="stl_287 stl_08 stl_302">615  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:27.7087em;"><span class="stl_288 stl_11 stl_309" style="word-spacing:-0.0405em;">Financial assets measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:28.4587em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.8493em;top:28.4587em;"><span class="stl_288 stl_11 stl_217">1,381  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.0943em;top:28.4587em;"><span class="stl_288 stl_11 stl_137">23  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9561em;top:28.4587em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5793em;top:28.4587em;"><span class="stl_288 stl_11 stl_36">1,404  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8311em;top:28.4587em;"><span class="stl_288 stl_11 stl_36">1,404  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:29.8993em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0396em;">Derivative financial instruments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:30.6493em;"><span class="stl_287 stl_08 stl_270" style="word-spacing:-0.0087em;">(level 2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.2924em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.713em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9649em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.048em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2999em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7749em;top:31.563em;"><span class="stl_288 stl_11 stl_375" style="word-spacing:-0.0428em;">Financial assets stated at fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7749em;top:32.3131em;"><span class="stl_288 stl_11 stl_31" style="word-spacing:-0.042em;">in the income statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.2524em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7036em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9555em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.008em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2599em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7743em;top:33.7537em;"><span class="stl_287 stl_08 stl_101" style="word-spacing:-0.0245em;">Trade payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.558em;top:33.7537em;"><span class="stl_287 stl_08 stl_214">490  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7118em;top:33.7537em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9636em;top:33.7537em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3136em;top:33.7537em;"><span class="stl_287 stl_08 stl_214">490  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5655em;top:33.7537em;"><span class="stl_287 stl_08 stl_214">490  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7736em;top:34.6749em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">Other payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.5699em;top:34.6749em;"><span class="stl_287 stl_08 stl_320">428  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.543em;top:34.6749em;"><span class="stl_287 stl_08 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7949em;top:34.6749em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2961em;top:34.6749em;"><span class="stl_287 stl_08 stl_45">439  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.548em;top:34.6749em;"><span class="stl_287 stl_08 stl_45">439  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7743em;top:35.5887em;"><span class="stl_288 stl_11 stl_361" style="word-spacing:-0.037em;">Financial liabilities measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7743em;top:36.3387em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.4655em;top:36.3387em;"><span class="stl_288 stl_11 stl_435">918  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.5036em;top:36.3387em;"><span class="stl_288 stl_11 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7555em;top:36.3387em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1874em;top:36.3387em;"><span class="stl_288 stl_11 stl_126">929  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.438em;top:36.3387em;"><span class="stl_288 stl_11 stl_126">929  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.5254em;"><span class="stl_288 stl_11 stl_207" style="word-spacing:-0.0412em;">Financial instruments measured at fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:11.2829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0353em;">At the end of the financial year, it is assessed whether an instrument has moved between the levels of the fair  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0329em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0332em;">value hierarchy. There have been no movements between the various levels this year or the year before.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:13.5254em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0418em;">Methods and assumptions for the determination of fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.2785em;"><span class="stl_438 stl_92 stl_528" style="word-spacing:-0.0444em;">Derivative financial instruments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.0329em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Derivative financial instruments are recognized at fair value based on a valuation report prepared by an exter-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.7829em;"><span class="stl_287 stl_08 stl_207" style="word-spacing:-0.0413em;">nal party who valuates the instruments based on discounted cash flows and other inputs based on observ-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:16.5329em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0337em;">able market data.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:18.0254em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:18.7829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">Debt to credit institutions, etc., is recognized at the date of borrowing at fair value corresponding to the pro-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:19.5329em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">ceeds received, less transaction costs paid. In subsequent periods, the financial liabilities are measured at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:20.2829em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">amortized cost using the ‘effective rate of interest method’ so that the difference between the proceeds and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:21.0329em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0344em;">the nominal value is recognized under financial expenses in the income statement for the duration of the loan  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:21.7829em;"><span class="stl_287 stl_08 stl_372">term.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.2829em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">Derivative financial instruments are recognized as from the transaction date and are measured at fair value in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.0329em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0355em;">the balance sheet. The fair value of derivative financial instruments is calculated on the basis of current mar-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.7829em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0338em;">ket data, as well as accepted valuation methods.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.2829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">Changes in the fair value of derivative financial instruments are recognized on an ongoing basis in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.0329em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0384em;">income statement.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.5329em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0371em;">Other liabilities are measured at amortized cost.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:30.0329em;"><span class="stl_287 stl_08 stl_127" style="word-spacing:-0.029em;">Fair value hierarchy is as following:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:31.5329em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.036em;">Level 1: The fair value of financial instruments traded on active markets is based on the listed market prices at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7938em;top:32.2829em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0325em;">the balance sheet date.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7938em;top:33.0329em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">The listed price is used for the Group’s financial assets as the current purchase price.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:34.5329em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0324em;">Level 2: The fair value of financial instruments which are not traded in an active market (e.g., over-the-counter  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8257em;top:35.2829em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0349em;">derivatives), is determined using ordinary valuation methods.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:36.7829em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">Level 3: If no observable market data is available, the instrument is included in the last category.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2258em;"><span class="stl_418 stl_11 stl_164" style="word-spacing:-0.0352em;">4.2 Financial instruments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.5449em;top:10.4899em;"><span class="stl_288 stl_11 stl_543" style="word-spacing:-0.0467em;">Contractual cash flows  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.8993em;top:11.3168em;"><span class="stl_288 stl_11 stl_631">Carrying  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:12.0743em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.1418em;top:12.0668em;"><span class="stl_288 stl_11 stl_823">0</span><span class="stl_288 stl_11 stl_790">-</span><span class="stl_288 stl_11 stl_76" style="word-spacing:-0.026em;">1 year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:20.0311em;top:12.0668em;"><span class="stl_288 stl_11 stl_146" style="word-spacing:-0.032em;">1-5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.3311em;top:12.0668em;"><span class="stl_288 stl_11 stl_361" style="word-spacing:-0.037em;">&gt; 5 years  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.8699em;top:12.0668em;"><span class="stl_288 stl_11 stl_579">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.2368em;top:12.0668em;"><span class="stl_288 stl_11 stl_271">amount  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:13.6181em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:14.5468em;"><span class="stl_287 stl_08 stl_75" style="word-spacing:-0.0294em;">Trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.538em;top:14.5468em;"><span class="stl_287 stl_08 stl_404">834  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7168em;top:14.5468em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:14.5468em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2943em;top:14.5468em;"><span class="stl_287 stl_08 stl_404">834  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5455em;top:14.5468em;"><span class="stl_287 stl_08 stl_404">834  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:15.4681em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0403em;">Other receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.9211em;top:15.4681em;"><span class="stl_287 stl_08 stl_146">30  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.203em;top:15.4681em;"><span class="stl_287 stl_08 stl_337">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:15.4681em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6724em;top:15.4681em;"><span class="stl_287 stl_08 stl_432">40  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9243em;top:15.4681em;"><span class="stl_287 stl_08 stl_432">40  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:16.3893em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0414em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.543em;top:16.3893em;"><span class="stl_287 stl_08 stl_361">866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7168em;top:16.3893em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:16.3893em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2986em;top:16.3893em;"><span class="stl_287 stl_08 stl_361">866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5499em;top:16.3893em;"><span class="stl_287 stl_08 stl_361">866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:17.3031em;"><span class="stl_288 stl_11 stl_309" style="word-spacing:-0.0405em;">Financial assets measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:18.0531em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.8674em;top:18.0531em;"><span class="stl_288 stl_11 stl_920">1,730  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.1224em;top:18.0531em;"><span class="stl_288 stl_11 stl_356">10  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9605em;top:18.0531em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.648em;top:18.0531em;"><span class="stl_288 stl_11 stl_71">1,740  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8993em;top:18.0531em;"><span class="stl_288 stl_11 stl_71">1,740  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7793em;top:19.4937em;"><span class="stl_287 stl_08 stl_101" style="word-spacing:-0.0245em;">Trade payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.578em;top:19.4937em;"><span class="stl_287 stl_08 stl_448">572  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7168em;top:19.4937em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9686em;top:19.4937em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3336em;top:19.4937em;"><span class="stl_287 stl_08 stl_448">572  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5855em;top:19.4937em;"><span class="stl_287 stl_08 stl_448">572  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7786em;top:20.4149em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">Other payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.5711em;top:20.4149em;"><span class="stl_287 stl_08 stl_331">441  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.5474em;top:20.4149em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7993em;top:20.4149em;"><span class="stl_287 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.283em;top:20.4149em;"><span class="stl_287 stl_08 stl_300">448  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5343em;top:20.4149em;"><span class="stl_287 stl_08 stl_300">448  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.778em;top:21.3287em;"><span class="stl_288 stl_11 stl_361" style="word-spacing:-0.037em;">Financial liabilities measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.778em;top:22.0787em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.8899em;top:22.0787em;"><span class="stl_288 stl_11 stl_898">1,013  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.5074em;top:22.0787em;"><span class="stl_288 stl_11 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7593em;top:22.0787em;"><span class="stl_288 stl_11 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.6024em;top:22.0787em;"><span class="stl_288 stl_11 stl_657">1,020  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8536em;top:22.0787em;"><span class="stl_288 stl_11 stl_657">1,020  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7774em;top:24.0237em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7774em;top:24.9524em;"><span class="stl_287 stl_08 stl_75" style="word-spacing:-0.0294em;">Trade receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.5818em;top:24.9524em;"><span class="stl_287 stl_08 stl_261">745  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7149em;top:24.9524em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9668em;top:24.9524em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3374em;top:24.9524em;"><span class="stl_287 stl_08 stl_261">745  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5886em;top:24.9524em;"><span class="stl_287 stl_08 stl_261">745  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7768em;top:25.8737em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0403em;">Other receivables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.9386em;top:25.8737em;"><span class="stl_287 stl_08 stl_63">21  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.1786em;top:25.8737em;"><span class="stl_287 stl_08 stl_328">23  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9661em;top:25.8737em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6611em;top:25.8737em;"><span class="stl_287 stl_08 stl_523">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.913em;top:25.8737em;"><span class="stl_287 stl_08 stl_523">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7761em;top:26.7949em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0414em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.6293em;top:26.7949em;"><span class="stl_287 stl_08 stl_302">615  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7136em;top:26.7949em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9655em;top:26.7949em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3849em;top:26.7949em;"><span class="stl_287 stl_08 stl_302">615  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6361em;top:26.7949em;"><span class="stl_287 stl_08 stl_302">615  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:27.7087em;"><span class="stl_288 stl_11 stl_309" style="word-spacing:-0.0405em;">Financial assets measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:28.4587em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:16.8493em;top:28.4587em;"><span class="stl_288 stl_11 stl_217">1,381  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.0943em;top:28.4587em;"><span class="stl_288 stl_11 stl_137">23  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9561em;top:28.4587em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5793em;top:28.4587em;"><span class="stl_288 stl_11 stl_36">1,404  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8311em;top:28.4587em;"><span class="stl_288 stl_11 stl_36">1,404  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:29.8993em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0396em;">Derivative financial instruments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7755em;top:30.6493em;"><span class="stl_287 stl_08 stl_270" style="word-spacing:-0.0087em;">(level 2)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.2924em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.713em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9649em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.048em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2999em;top:30.6493em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7749em;top:31.563em;"><span class="stl_288 stl_11 stl_375" style="word-spacing:-0.0428em;">Financial assets stated at fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7749em;top:32.3131em;"><span class="stl_288 stl_11 stl_31" style="word-spacing:-0.042em;">in the income statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.2524em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7036em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9555em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.008em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.2599em;top:32.3131em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7743em;top:33.7537em;"><span class="stl_287 stl_08 stl_101" style="word-spacing:-0.0245em;">Trade payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.558em;top:33.7537em;"><span class="stl_287 stl_08 stl_214">490  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.7118em;top:33.7537em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9636em;top:33.7537em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3136em;top:33.7537em;"><span class="stl_287 stl_08 stl_214">490  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5655em;top:33.7537em;"><span class="stl_287 stl_08 stl_214">490  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7736em;top:34.6749em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0391em;">Other payables  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.5699em;top:34.6749em;"><span class="stl_287 stl_08 stl_320">428  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.543em;top:34.6749em;"><span class="stl_287 stl_08 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7949em;top:34.6749em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2961em;top:34.6749em;"><span class="stl_287 stl_08 stl_45">439  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.548em;top:34.6749em;"><span class="stl_287 stl_08 stl_45">439  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7743em;top:35.5887em;"><span class="stl_288 stl_11 stl_361" style="word-spacing:-0.037em;">Financial liabilities measured  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7743em;top:36.3387em;"><span class="stl_288 stl_11 stl_69" style="word-spacing:-0.0465em;">at amortized cost  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.4655em;top:36.3387em;"><span class="stl_288 stl_11 stl_435">918  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.5036em;top:36.3387em;"><span class="stl_288 stl_11 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.7555em;top:36.3387em;"><span class="stl_288 stl_11 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1874em;top:36.3387em;"><span class="stl_288 stl_11 stl_126">929  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.438em;top:36.3387em;"><span class="stl_288 stl_11 stl_126">929  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.5254em;"><span class="stl_288 stl_11 stl_207" style="word-spacing:-0.0412em;">Financial instruments measured at fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:11.2829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0353em;">At the end of the financial year, it is assessed whether an instrument has moved between the levels of the fair  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0329em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0332em;">value hierarchy. There have been no movements between the various levels this year or the year before.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:13.5254em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0418em;">Methods and assumptions for the determination of fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.2785em;"><span class="stl_438 stl_92 stl_528" style="word-spacing:-0.0444em;">Derivative financial instruments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.0329em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Derivative financial instruments are recognized at fair value based on a valuation report prepared by an exter-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.7829em;"><span class="stl_287 stl_08 stl_207" style="word-spacing:-0.0413em;">nal party who valuates the instruments based on discounted cash flows and other inputs based on observ-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:16.5329em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0337em;">able market data.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:18.0254em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:18.7829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">Debt to credit institutions, etc., is recognized at the date of borrowing at fair value corresponding to the pro-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:19.5329em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">ceeds received, less transaction costs paid. In subsequent periods, the financial liabilities are measured at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:20.2829em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">amortized cost using the ‘effective rate of interest method’ so that the difference between the proceeds and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:21.0329em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0344em;">the nominal value is recognized under financial expenses in the income statement for the duration of the loan  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:21.7829em;"><span class="stl_287 stl_08 stl_372">term.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.2829em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">Derivative financial instruments are recognized as from the transaction date and are measured at fair value in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.0329em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0355em;">the balance sheet. The fair value of derivative financial instruments is calculated on the basis of current mar-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.7829em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0338em;">ket data, as well as accepted valuation methods.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.2829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">Changes in the fair value of derivative financial instruments are recognized on an ongoing basis in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.0329em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0384em;">income statement.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.5329em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0371em;">Other liabilities are measured at amortized cost.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:30.0329em;"><span class="stl_287 stl_08 stl_127" style="word-spacing:-0.029em;">Fair value hierarchy is as following:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:31.5329em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.036em;">Level 1: The fair value of financial instruments traded on active markets is based on the listed market prices at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7938em;top:32.2829em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0325em;">the balance sheet date.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7938em;top:33.0329em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">The listed price is used for the Group’s financial assets as the current purchase price.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:34.5329em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0324em;">Level 2: The fair value of financial instruments which are not traded in an active market (e.g., over-the-counter  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8257em;top:35.2829em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0349em;">derivatives), is determined using ordinary valuation methods.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:36.7829em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">Level 3: If no observable market data is available, the instrument is included in the last category.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:18.0254em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:18.7829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">Debt to credit institutions, etc., is recognized at the date of borrowing at fair value corresponding to the pro-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:19.5329em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">ceeds received, less transaction costs paid. In subsequent periods, the financial liabilities are measured at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:20.2829em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">amortized cost using the ‘effective rate of interest method’ so that the difference between the proceeds and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:21.0329em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0344em;">the nominal value is recognized under financial expenses in the income statement for the duration of the loan  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:21.7829em;"><span class="stl_287 stl_08 stl_372">term.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.2829em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">Derivative financial instruments are recognized as from the transaction date and are measured at fair value in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.0329em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0355em;">the balance sheet. The fair value of derivative financial instruments is calculated on the basis of current mar-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.7829em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0338em;">ket data, as well as accepted valuation methods.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.2829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">Changes in the fair value of derivative financial instruments are recognized on an ongoing basis in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.0329em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0384em;">income statement.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.5329em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0371em;">Other liabilities are measured at amortized cost.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:30.0329em;"><span class="stl_287 stl_08 stl_127" style="word-spacing:-0.029em;">Fair value hierarchy is as following:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:31.5329em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.036em;">Level 1: The fair value of financial instruments traded on active markets is based on the listed market prices at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7938em;top:32.2829em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0325em;">the balance sheet date.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7938em;top:33.0329em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">The listed price is used for the Group’s financial assets as the current purchase price.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:34.5329em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0324em;">Level 2: The fair value of financial instruments which are not traded in an active market (e.g., over-the-counter  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8257em;top:35.2829em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0349em;">derivatives), is determined using ordinary valuation methods.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:36.7829em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">Level 3: If no observable market data is available, the instrument is included in the last category.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:18.0254em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:18.7829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">Debt to credit institutions, etc., is recognized at the date of borrowing at fair value corresponding to the pro-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:19.5329em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">ceeds received, less transaction costs paid. In subsequent periods, the financial liabilities are measured at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:20.2829em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">amortized cost using the ‘effective rate of interest method’ so that the difference between the proceeds and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:21.0329em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0344em;">the nominal value is recognized under financial expenses in the income statement for the duration of the loan  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:21.7829em;"><span class="stl_287 stl_08 stl_372">term.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.2829em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">Derivative financial instruments are recognized as from the transaction date and are measured at fair value in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.0329em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0355em;">the balance sheet. The fair value of derivative financial instruments is calculated on the basis of current mar-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.7829em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0338em;">ket data, as well as accepted valuation methods.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.2829em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">Changes in the fair value of derivative financial instruments are recognized on an ongoing basis in the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.0329em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0384em;">income statement.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.5329em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0371em;">Other liabilities are measured at amortized cost.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:30.0329em;"><span class="stl_287 stl_08 stl_127" style="word-spacing:-0.029em;">Fair value hierarchy is as following:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:31.5329em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.036em;">Level 1: The fair value of financial instruments traded on active markets is based on the listed market prices at  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7938em;top:32.2829em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0325em;">the balance sheet date.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.7938em;top:33.0329em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">The listed price is used for the Group’s financial assets as the current purchase price.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:34.5329em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0324em;">Level 2: The fair value of financial instruments which are not traded in an active market (e.g., over-the-counter  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:41.8257em;top:35.2829em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0349em;">derivatives), is determined using ordinary valuation methods.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:36.7829em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">Level 3: If no observable market data is available, the instrument is included in the last category.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2258em;"><span class="stl_418 stl_11 stl_139" style="word-spacing:-0.0349em;">4.3 Net financials  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6877em;top:10.4899em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.947em;top:10.4899em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0487em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0349em;">Interest income, banks  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7127em;top:12.0487em;"><span class="stl_287 stl_08 stl_326">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9689em;top:12.0487em;"><span class="stl_287 stl_08 stl_792">14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.9699em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">Interest income, others  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2208em;top:12.9699em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3039em;top:12.9699em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:13.8912em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.03em;">Foreign exchange gains, net  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2202em;top:13.8912em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3033em;top:13.8912em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:14.8049em;"><span class="stl_288 stl_11 stl_100" style="word-spacing:-0.0343em;">Financial income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6308em;top:14.8049em;"><span class="stl_288 stl_11 stl_578">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8858em;top:14.8049em;"><span class="stl_288 stl_11 stl_251">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.7129em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6877em;top:16.7054em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.947em;top:16.7054em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.2641em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0396em;">Interest expenses, banks  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.052em;top:18.2641em;"><span class="stl_287 stl_08 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3039em;top:18.2641em;"><span class="stl_287 stl_08 stl_25">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:19.1854em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0415em;">Interest expenses, leases  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7114em;top:19.1854em;"><span class="stl_287 stl_08 stl_364">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9377em;top:19.1854em;"><span class="stl_287 stl_08 stl_187">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:20.1066em;"><span class="stl_287 stl_08 stl_540" style="word-spacing:-0.0417em;">Interest expenses, others  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0514em;top:20.1066em;"><span class="stl_287 stl_08 stl_25">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3033em;top:20.1066em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:21.0279em;"><span class="stl_287 stl_08 stl_146" style="word-spacing:-0.032em;">Foreign exchange loss, net  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7158em;top:21.0279em;"><span class="stl_287 stl_08 stl_792">14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4714em;top:21.0279em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:21.9416em;"><span class="stl_288 stl_11 stl_70" style="word-spacing:-0.0355em;">Financial expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5877em;top:21.9416em;"><span class="stl_288 stl_11 stl_300">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8645em;top:21.9416em;"><span class="stl_288 stl_11 stl_29">27  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:23.411em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:24.1685em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0355em;">Financial income and expenses comprise interest, exchange gains and losses, transactions in foreign cur-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:24.9185em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">rencies, and amortization of financial assets and liabilities, including leases. The timing effect and fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:25.6685em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">adjustment of contingent consideration and the purchase price payable are classified under net financials.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2258em;"><span class="stl_418 stl_11 stl_139" style="word-spacing:-0.0349em;">4.3 Net financials  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6877em;top:10.4899em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.947em;top:10.4899em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0487em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0349em;">Interest income, banks  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7127em;top:12.0487em;"><span class="stl_287 stl_08 stl_326">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9689em;top:12.0487em;"><span class="stl_287 stl_08 stl_792">14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.9699em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">Interest income, others  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2208em;top:12.9699em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3039em;top:12.9699em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:13.8912em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.03em;">Foreign exchange gains, net  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2202em;top:13.8912em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3033em;top:13.8912em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:14.8049em;"><span class="stl_288 stl_11 stl_100" style="word-spacing:-0.0343em;">Financial income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6308em;top:14.8049em;"><span class="stl_288 stl_11 stl_578">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8858em;top:14.8049em;"><span class="stl_288 stl_11 stl_251">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.7129em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6877em;top:16.7054em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.947em;top:16.7054em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.2641em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0396em;">Interest expenses, banks  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.052em;top:18.2641em;"><span class="stl_287 stl_08 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3039em;top:18.2641em;"><span class="stl_287 stl_08 stl_25">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:19.1854em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0415em;">Interest expenses, leases  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7114em;top:19.1854em;"><span class="stl_287 stl_08 stl_364">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9377em;top:19.1854em;"><span class="stl_287 stl_08 stl_187">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:20.1066em;"><span class="stl_287 stl_08 stl_540" style="word-spacing:-0.0417em;">Interest expenses, others  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0514em;top:20.1066em;"><span class="stl_287 stl_08 stl_25">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3033em;top:20.1066em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:21.0279em;"><span class="stl_287 stl_08 stl_146" style="word-spacing:-0.032em;">Foreign exchange loss, net  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7158em;top:21.0279em;"><span class="stl_287 stl_08 stl_792">14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4714em;top:21.0279em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:21.9416em;"><span class="stl_288 stl_11 stl_70" style="word-spacing:-0.0355em;">Financial expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5877em;top:21.9416em;"><span class="stl_288 stl_11 stl_300">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8645em;top:21.9416em;"><span class="stl_288 stl_11 stl_29">27  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:23.411em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:24.1685em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0355em;">Financial income and expenses comprise interest, exchange gains and losses, transactions in foreign cur-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:24.9185em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">rencies, and amortization of financial assets and liabilities, including leases. The timing effect and fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:25.6685em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">adjustment of contingent consideration and the purchase price payable are classified under net financials.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2258em;"><span class="stl_418 stl_11 stl_139" style="word-spacing:-0.0349em;">4.3 Net financials  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6877em;top:10.4899em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.947em;top:10.4899em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0487em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0349em;">Interest income, banks  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7127em;top:12.0487em;"><span class="stl_287 stl_08 stl_326">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9689em;top:12.0487em;"><span class="stl_287 stl_08 stl_792">14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.9699em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">Interest income, others  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2208em;top:12.9699em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3039em;top:12.9699em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:13.8912em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.03em;">Foreign exchange gains, net  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2202em;top:13.8912em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3033em;top:13.8912em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:14.8049em;"><span class="stl_288 stl_11 stl_100" style="word-spacing:-0.0343em;">Financial income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6308em;top:14.8049em;"><span class="stl_288 stl_11 stl_578">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8858em;top:14.8049em;"><span class="stl_288 stl_11 stl_251">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.7129em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6877em;top:16.7054em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.947em;top:16.7054em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.2641em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0396em;">Interest expenses, banks  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.052em;top:18.2641em;"><span class="stl_287 stl_08 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3039em;top:18.2641em;"><span class="stl_287 stl_08 stl_25">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:19.1854em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0415em;">Interest expenses, leases  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7114em;top:19.1854em;"><span class="stl_287 stl_08 stl_364">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9377em;top:19.1854em;"><span class="stl_287 stl_08 stl_187">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:20.1066em;"><span class="stl_287 stl_08 stl_540" style="word-spacing:-0.0417em;">Interest expenses, others  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0514em;top:20.1066em;"><span class="stl_287 stl_08 stl_25">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3033em;top:20.1066em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:21.0279em;"><span class="stl_287 stl_08 stl_146" style="word-spacing:-0.032em;">Foreign exchange loss, net  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7158em;top:21.0279em;"><span class="stl_287 stl_08 stl_792">14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4714em;top:21.0279em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:21.9416em;"><span class="stl_288 stl_11 stl_70" style="word-spacing:-0.0355em;">Financial expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5877em;top:21.9416em;"><span class="stl_288 stl_11 stl_300">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8645em;top:21.9416em;"><span class="stl_288 stl_11 stl_29">27  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:23.411em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:24.1685em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0355em;">Financial income and expenses comprise interest, exchange gains and losses, transactions in foreign cur-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:24.9185em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">rencies, and amortization of financial assets and liabilities, including leases. The timing effect and fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:25.6685em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">adjustment of contingent consideration and the purchase price payable are classified under net financials.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2258em;"><span class="stl_418 stl_11 stl_139" style="word-spacing:-0.0349em;">4.3 Net financials  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6877em;top:10.4899em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.947em;top:10.4899em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0487em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0349em;">Interest income, banks  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7127em;top:12.0487em;"><span class="stl_287 stl_08 stl_326">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9689em;top:12.0487em;"><span class="stl_287 stl_08 stl_792">14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.9699em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">Interest income, others  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2208em;top:12.9699em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3039em;top:12.9699em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:13.8912em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.03em;">Foreign exchange gains, net  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2202em;top:13.8912em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3033em;top:13.8912em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:14.8049em;"><span class="stl_288 stl_11 stl_100" style="word-spacing:-0.0343em;">Financial income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6308em;top:14.8049em;"><span class="stl_288 stl_11 stl_578">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8858em;top:14.8049em;"><span class="stl_288 stl_11 stl_251">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.7129em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6877em;top:16.7054em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.947em;top:16.7054em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.2641em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0396em;">Interest expenses, banks  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.052em;top:18.2641em;"><span class="stl_287 stl_08 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3039em;top:18.2641em;"><span class="stl_287 stl_08 stl_25">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:19.1854em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0415em;">Interest expenses, leases  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7114em;top:19.1854em;"><span class="stl_287 stl_08 stl_364">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9377em;top:19.1854em;"><span class="stl_287 stl_08 stl_187">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:20.1066em;"><span class="stl_287 stl_08 stl_540" style="word-spacing:-0.0417em;">Interest expenses, others  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0514em;top:20.1066em;"><span class="stl_287 stl_08 stl_25">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3033em;top:20.1066em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:21.0279em;"><span class="stl_287 stl_08 stl_146" style="word-spacing:-0.032em;">Foreign exchange loss, net  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7158em;top:21.0279em;"><span class="stl_287 stl_08 stl_792">14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4714em;top:21.0279em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:21.9416em;"><span class="stl_288 stl_11 stl_70" style="word-spacing:-0.0355em;">Financial expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5877em;top:21.9416em;"><span class="stl_288 stl_11 stl_300">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8645em;top:21.9416em;"><span class="stl_288 stl_11 stl_29">27  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:23.411em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:24.1685em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0355em;">Financial income and expenses comprise interest, exchange gains and losses, transactions in foreign cur-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:24.9185em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">rencies, and amortization of financial assets and liabilities, including leases. The timing effect and fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:25.6685em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">adjustment of contingent consideration and the purchase price payable are classified under net financials.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2258em;"><span class="stl_418 stl_11 stl_139" style="word-spacing:-0.0349em;">4.3 Net financials  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6877em;top:10.4899em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.947em;top:10.4899em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0487em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0349em;">Interest income, banks  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7127em;top:12.0487em;"><span class="stl_287 stl_08 stl_326">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9689em;top:12.0487em;"><span class="stl_287 stl_08 stl_792">14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.9699em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">Interest income, others  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2208em;top:12.9699em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3039em;top:12.9699em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:13.8912em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.03em;">Foreign exchange gains, net  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2202em;top:13.8912em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3033em;top:13.8912em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:14.8049em;"><span class="stl_288 stl_11 stl_100" style="word-spacing:-0.0343em;">Financial income  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6308em;top:14.8049em;"><span class="stl_288 stl_11 stl_578">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8858em;top:14.8049em;"><span class="stl_288 stl_11 stl_251">16  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.7129em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6877em;top:16.7054em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.947em;top:16.7054em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.2641em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0396em;">Interest expenses, banks  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.052em;top:18.2641em;"><span class="stl_287 stl_08 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3039em;top:18.2641em;"><span class="stl_287 stl_08 stl_25">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:19.1854em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0415em;">Interest expenses, leases  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7114em;top:19.1854em;"><span class="stl_287 stl_08 stl_364">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9377em;top:19.1854em;"><span class="stl_287 stl_08 stl_187">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:20.1066em;"><span class="stl_287 stl_08 stl_540" style="word-spacing:-0.0417em;">Interest expenses, others  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0514em;top:20.1066em;"><span class="stl_287 stl_08 stl_25">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3033em;top:20.1066em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:21.0279em;"><span class="stl_287 stl_08 stl_146" style="word-spacing:-0.032em;">Foreign exchange loss, net  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.7158em;top:21.0279em;"><span class="stl_287 stl_08 stl_792">14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4714em;top:21.0279em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:21.9416em;"><span class="stl_288 stl_11 stl_70" style="word-spacing:-0.0355em;">Financial expenses  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5877em;top:21.9416em;"><span class="stl_288 stl_11 stl_300">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8645em;top:21.9416em;"><span class="stl_288 stl_11 stl_29">27  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:23.411em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:24.1685em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0355em;">Financial income and expenses comprise interest, exchange gains and losses, transactions in foreign cur-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:24.9185em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">rencies, and amortization of financial assets and liabilities, including leases. The timing effect and fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:25.6685em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">adjustment of contingent consideration and the purchase price payable are classified under net financials.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:9.2258em;"><span class="stl_418 stl_11 stl_164" style="word-spacing:-0.0353em;">4.4 Interest-bearing debt  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.2494em;top:10.4899em;"><span class="stl_288 stl_11 stl_283">30.09.25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.4982em;top:10.4899em;"><span class="stl_288 stl_11 stl_219">30.09.24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0487em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0403em;">Credit institutions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.7213em;top:12.0487em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:71.1419em;top:12.0487em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:12.9699em;"><span class="stl_287 stl_08 stl_169" style="word-spacing:-0.0334em;">Lease liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9726em;top:12.9699em;"><span class="stl_287 stl_08 stl_127">462  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2119em;top:12.9699em;"><span class="stl_287 stl_08 stl_432">483  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:13.8837em;"><span class="stl_288 stl_11 stl_344" style="word-spacing:-0.0423em;">Long-term interest-bearing debt  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8826em;top:13.8837em;"><span class="stl_288 stl_11 stl_77">467  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1019em;top:13.8837em;"><span class="stl_288 stl_11 stl_161">483  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:15.3243em;"><span class="stl_287 stl_08 stl_169" style="word-spacing:-0.0334em;">Lease liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3407em;top:15.3243em;"><span class="stl_287 stl_08 stl_321">80  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6194em;top:15.3243em;"><span class="stl_287 stl_08 stl_435">75  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:16.238em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0426em;">Short-term interest-bearing debt  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.2663em;top:16.238em;"><span class="stl_288 stl_11 stl_161">80  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5451em;top:16.238em;"><span class="stl_288 stl_11 stl_308">75  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:17.6712em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0418em;">Interest-bearing debt  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8788em;top:17.6712em;"><span class="stl_288 stl_11 stl_325">547  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1119em;top:17.6712em;"><span class="stl_288 stl_11 stl_12">558  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:19.148em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0341em;">The table below shows the composition of the Group’s net interest-bearing debt.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:20.6067em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.2494em;top:20.5992em;"><span class="stl_288 stl_11 stl_283">30.09.25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.4982em;top:20.5992em;"><span class="stl_288 stl_11 stl_219">30.09.24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:22.1579em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0363em;">Interest-bearing debt  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9957em;top:22.1579em;"><span class="stl_287 stl_08 stl_227">547  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2288em;top:22.1579em;"><span class="stl_287 stl_08 stl_112">558  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.0792em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0414em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.7463em;top:23.0792em;"><span class="stl_287 stl_08 stl_93">-866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0832em;top:23.0792em;"><span class="stl_287 stl_08 stl_353">-</span><span class="stl_287 stl_08 stl_388">6</span><span class="stl_287 stl_08 stl_326">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.9929em;"><span class="stl_288 stl_11 stl_31" style="word-spacing:-0.042em;">Net interest-bearing debt  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.6819em;top:23.9929em;"><span class="stl_288 stl_11 stl_865">-319  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.3163em;top:23.9929em;"><span class="stl_288 stl_11 stl_579">-57  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:9.2258em;"><span class="stl_418 stl_11 stl_164" style="word-spacing:-0.0353em;">4.4 Interest-bearing debt  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.2494em;top:10.4899em;"><span class="stl_288 stl_11 stl_283">30.09.25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.4982em;top:10.4899em;"><span class="stl_288 stl_11 stl_219">30.09.24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0487em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0403em;">Credit institutions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.7213em;top:12.0487em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:71.1419em;top:12.0487em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:12.9699em;"><span class="stl_287 stl_08 stl_169" style="word-spacing:-0.0334em;">Lease liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9726em;top:12.9699em;"><span class="stl_287 stl_08 stl_127">462  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2119em;top:12.9699em;"><span class="stl_287 stl_08 stl_432">483  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:13.8837em;"><span class="stl_288 stl_11 stl_344" style="word-spacing:-0.0423em;">Long-term interest-bearing debt  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8826em;top:13.8837em;"><span class="stl_288 stl_11 stl_77">467  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1019em;top:13.8837em;"><span class="stl_288 stl_11 stl_161">483  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:15.3243em;"><span class="stl_287 stl_08 stl_169" style="word-spacing:-0.0334em;">Lease liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3407em;top:15.3243em;"><span class="stl_287 stl_08 stl_321">80  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6194em;top:15.3243em;"><span class="stl_287 stl_08 stl_435">75  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:16.238em;"><span class="stl_288 stl_11 stl_525" style="word-spacing:-0.0426em;">Short-term interest-bearing debt  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.2663em;top:16.238em;"><span class="stl_288 stl_11 stl_161">80  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5451em;top:16.238em;"><span class="stl_288 stl_11 stl_308">75  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:17.6712em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0418em;">Interest-bearing debt  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8788em;top:17.6712em;"><span class="stl_288 stl_11 stl_325">547  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1119em;top:17.6712em;"><span class="stl_288 stl_11 stl_12">558  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:19.148em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0341em;">The table below shows the composition of the Group’s net interest-bearing debt.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:20.6067em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.2494em;top:20.5992em;"><span class="stl_288 stl_11 stl_283">30.09.25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.4982em;top:20.5992em;"><span class="stl_288 stl_11 stl_219">30.09.24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:22.1579em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0363em;">Interest-bearing debt  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9957em;top:22.1579em;"><span class="stl_287 stl_08 stl_227">547  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2288em;top:22.1579em;"><span class="stl_287 stl_08 stl_112">558  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.0792em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0414em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.7463em;top:23.0792em;"><span class="stl_287 stl_08 stl_93">-866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0832em;top:23.0792em;"><span class="stl_287 stl_08 stl_353">-</span><span class="stl_287 stl_08 stl_388">6</span><span class="stl_287 stl_08 stl_326">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.9929em;"><span class="stl_288 stl_11 stl_31" style="word-spacing:-0.042em;">Net interest-bearing debt  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.6819em;top:23.9929em;"><span class="stl_288 stl_11 stl_865">-319  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.3163em;top:23.9929em;"><span class="stl_288 stl_11 stl_579">-57  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4491em;top:9.2256em;"><span class="stl_418 stl_11 stl_100" style="word-spacing:-0.0344em;">4.6 Cash flows from financial liabilities classified as financing activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.5174em;top:10.608em;"><span class="stl_288 stl_11 stl_471" style="word-spacing:-0.0432em;">Non-cash movements  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7889em;top:11.7892em;"><span class="stl_288 stl_11 stl_299">Adjust-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4486em;top:12.5468em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:50.7811em;top:12.5393em;"><span class="stl_288 stl_11 stl_219">30.09.24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.7624em;top:12.5393em;"><span class="stl_288 stl_11 stl_342" style="word-spacing:-0.0453em;">Cash flow  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.5199em;top:12.5393em;"><span class="stl_288 stl_11 stl_127">Additions</span><sup style="top: -0.2082em;"><span class="stl_295 stl_11 stl_542">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.857em;top:12.5392em;"><span class="stl_288 stl_11 stl_528">ments</span><sup style="top: -0.2081em;"><span class="stl_295 stl_11 stl_921">2  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.5015em;top:12.5392em;"><span class="stl_288 stl_11 stl_283">30.09.25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.449em;top:14.0979em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0403em;">Credit institutions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:53.4259em;top:14.0979em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:57.6777em;top:14.0979em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.4696em;top:14.0979em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8902em;top:14.0979em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9734em;top:14.0979em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4484em;top:15.0192em;"><span class="stl_287 stl_08 stl_169" style="word-spacing:-0.0334em;">Lease liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.5121em;top:15.0192em;"><span class="stl_287 stl_08 stl_112">558  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.9002em;top:15.0192em;"><span class="stl_287 stl_08 stl_878">-63  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.1027em;top:15.0192em;"><span class="stl_287 stl_08 stl_328">62  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.2196em;top:15.0192em;"><span class="stl_287 stl_08 stl_346">-15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2346em;top:15.0192em;"><span class="stl_287 stl_08 stl_188">542  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.3952em;top:15.9329em;"><span class="stl_288 stl_11 stl_12">558  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.8159em;top:15.9329em;"><span class="stl_288 stl_11 stl_727">-63  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.0502em;top:15.9329em;"><span class="stl_288 stl_11 stl_364">67  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.1315em;top:15.9329em;"><span class="stl_288 stl_11 stl_346">-15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1309em;top:15.9329em;"><span class="stl_288 stl_11 stl_325">547  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.5177em;top:18.6023em;"><span class="stl_288 stl_11 stl_471" style="word-spacing:-0.0432em;">Non-cash movements  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7888em;top:19.7837em;"><span class="stl_288 stl_11 stl_299">Adjust-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.449em;top:20.5411em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:50.784em;top:20.5336em;"><span class="stl_288 stl_11 stl_283">30.09.23  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.7634em;top:20.5336em;"><span class="stl_288 stl_11 stl_342" style="word-spacing:-0.0453em;">Cash flow  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.5209em;top:20.5336em;"><span class="stl_288 stl_11 stl_163">Additions</span><sup style="top: -0.208em;"><span class="stl_295 stl_11 stl_319">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.857em;top:20.5337em;"><span class="stl_288 stl_11 stl_528">ments</span><sup style="top: -0.2081em;"><span class="stl_295 stl_11 stl_921">2  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.4981em;top:20.5337em;"><span class="stl_288 stl_11 stl_219">30.09.24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4487em;top:22.0925em;"><span class="stl_287 stl_08 stl_169" style="word-spacing:-0.0334em;">Lease liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.5043em;top:22.0925em;"><span class="stl_287 stl_08 stl_139">584  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.9018em;top:22.0925em;"><span class="stl_287 stl_08 stl_718">-65  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.1043em;top:22.0925em;"><span class="stl_287 stl_08 stl_187">95  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.135em;top:22.0925em;"><span class="stl_287 stl_08 stl_47">-56  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2294em;top:22.0925em;"><span class="stl_287 stl_08 stl_112">558  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.3944em;top:23.0062em;"><span class="stl_288 stl_11 stl_112">584  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.8175em;top:23.0062em;"><span class="stl_288 stl_11 stl_30">-65  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.0294em;top:23.0062em;"><span class="stl_288 stl_11 stl_331">95  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0469em;top:23.0062em;"><span class="stl_288 stl_11 stl_31">-56  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1125em;top:23.0062em;"><span class="stl_288 stl_11 stl_12">558  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.4775em;"><span class="stl_390 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.9212em;top:24.439em;"><span class="stl_391 stl_08 stl_566" style="word-spacing:-0.0517em;">Additions includes raising from leases and credit institutions.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:25.0608em;"><span class="stl_390 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.9212em;top:25.0224em;"><span class="stl_391 stl_08 stl_617" style="word-spacing:-0.0536em;">Non-cash adjustments mainly relate to foreign currency translation.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:23.411em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:24.1685em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0355em;">Financial income and expenses comprise interest, exchange gains and losses, transactions in foreign cur-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:24.9185em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">rencies, and amortization of financial assets and liabilities, including leases. The timing effect and fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:25.6685em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">adjustment of contingent consideration and the purchase price payable are classified under net financials.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:23.411em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:24.1685em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0355em;">Financial income and expenses comprise interest, exchange gains and losses, transactions in foreign cur-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:24.9185em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">rencies, and amortization of financial assets and liabilities, including leases. The timing effect and fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:25.6685em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">adjustment of contingent consideration and the purchase price payable are classified under net financials.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:23.411em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:24.1685em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0355em;">Financial income and expenses comprise interest, exchange gains and losses, transactions in foreign cur-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:24.9185em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">rencies, and amortization of financial assets and liabilities, including leases. The timing effect and fair value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:25.6685em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">adjustment of contingent consideration and the purchase price payable are classified under net financials.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2258em;"><span class="stl_418 stl_11 stl_372" style="word-spacing:-0.0377em;">4.5 Share capital and treasury shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5312em;"><span class="stl_288 stl_11 stl_144" style="word-spacing:-0.0356em;">Development in the number of shares:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:14.4964em;top:11.9899em;"><span class="stl_288 stl_11 stl_375" style="word-spacing:-0.0429em;">Class A shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.3089em;top:11.9899em;"><span class="stl_288 stl_11 stl_375" style="word-spacing:-0.0429em;">Class B shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5826em;top:11.9899em;"><span class="stl_288 stl_11 stl_140" style="word-spacing:-0.0189em;">Total ('000)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:13.4514em;top:13.053em;"><span class="stl_288 stl_11 stl_116" style="word-spacing:1.6133em;">2024/25 2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.2432em;top:13.053em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.1482em;top:13.053em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.0351em;top:13.053em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.9401em;top:13.053em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:14.5074em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">Number of shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:15.2574em;"><span class="stl_287 stl_08 stl_394" style="word-spacing:-0.0418em;">issued, 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:14.1564em;top:15.2574em;"><span class="stl_287 stl_08 stl_118">34,320  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.052em;top:15.2574em;"><span class="stl_287 stl_08 stl_118">34,320  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.6651em;top:15.2574em;"><span class="stl_287 stl_08 stl_427">234,974  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.5607em;top:15.2574em;"><span class="stl_287 stl_08 stl_427">234,974  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.4551em;top:15.2574em;"><span class="stl_287 stl_08 stl_499">269,294  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.3507em;top:15.2574em;"><span class="stl_287 stl_08 stl_499">269,294  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7782em;top:16.1712em;"><span class="stl_288 stl_11 stl_412" style="word-spacing:-0.0407em;">Number of shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7782em;top:16.9212em;"><span class="stl_288 stl_11 stl_294" style="word-spacing:-0.0407em;">issued, 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:13.9101em;top:16.9212em;"><span class="stl_288 stl_11 stl_164">34,320  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.8089em;top:16.9212em;"><span class="stl_288 stl_11 stl_164">34,320  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.3732em;top:16.9212em;"><span class="stl_288 stl_11 stl_588">234,974  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.2689em;top:16.9212em;"><span class="stl_288 stl_11 stl_588">234,974  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.1657em;top:16.9212em;"><span class="stl_288 stl_11 stl_325">269,294  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.0614em;top:16.9212em;"><span class="stl_288 stl_11 stl_325">269,294  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:19.1405em;"><span class="stl_288 stl_11 stl_245" style="word-spacing:-0.0402em;">Development in treasury shares:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.2998em;top:19.849em;"><span class="stl_288 stl_11 stl_271" style="word-spacing:-0.0372em;">Nominal value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.6954em;top:19.849em;"><span class="stl_288 stl_11 stl_297" style="word-spacing:-0.038em;">In %  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.2267em;top:20.599em;"><span class="stl_288 stl_11 stl_128" style="word-spacing:-0.0251em;">No. ('000)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.3529em;top:20.599em;"><span class="stl_288 stl_11 stl_408">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9429em;top:20.599em;"><span class="stl_288 stl_11 stl_528" style="word-spacing:-0.0444em;">of share capital  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:13.4517em;top:21.6621em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.3567em;top:21.6621em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.2435em;top:21.6621em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.1485em;top:21.6621em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.0354em;top:21.6621em;"><span class="stl_288 stl_11 stl_116" style="word-spacing:1.6133em;">2024/25 2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7791em;top:23.1165em;"><span class="stl_287 stl_08 stl_334" style="word-spacing:-0.0467em;">1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:14.5642em;top:23.1165em;"><span class="stl_287 stl_08 stl_57">2,905  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.4635em;top:23.1165em;"><span class="stl_287 stl_08 stl_199">2,993  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.0979em;top:23.1165em;"><span class="stl_287 stl_08 stl_122">1.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9948em;top:23.1165em;"><span class="stl_287 stl_08 stl_122">1.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4467em;top:23.1165em;"><span class="stl_287 stl_08 stl_302">1.1%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.3435em;top:23.1165em;"><span class="stl_287 stl_08 stl_302">1.1%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7785em;top:24.0378em;"><span class="stl_287 stl_08 stl_396" style="word-spacing:-0.0404em;">Disposals, long-term  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7785em;top:24.7878em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0353em;">incentive schemes  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.2573em;top:24.7878em;"><span class="stl_287 stl_08 stl_253">-25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.881em;top:24.7878em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.7785em;top:24.7878em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.676em;top:24.7878em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.5735em;top:24.7878em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.471em;top:24.7878em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7773em;top:25.709em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0365em;">Disposals, employee shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7773em;top:26.459em;"><span class="stl_287 stl_08 stl_408" style="word-spacing:-0.0193em;">(matching shares)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.2473em;top:26.459em;"><span class="stl_287 stl_08 stl_55">-59  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.111em;top:26.459em;"><span class="stl_287 stl_08 stl_877">-88  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.7779em;top:26.459em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6754em;top:26.459em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.5729em;top:26.459em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4704em;top:26.459em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:27.3803em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0367em;">Disposals, share options  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.2242em;top:27.3803em;"><span class="stl_287 stl_08 stl_433">-82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.8798em;top:27.3803em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.8948em;top:27.3803em;z-index:676;"><span class="stl_287 stl_08 stl_317">-0</span><span class="stl_287 stl_08 stl_318">.</span><span class="stl_287 stl_08 stl_318">1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6748em;top:27.3803em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1885em;top:27.3803em;z-index:681;"><span class="stl_287 stl_08 stl_317">-0</span><span class="stl_287 stl_08 stl_318">.</span><span class="stl_287 stl_08 stl_302">1%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4704em;top:27.3803em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:28.294em;"><span class="stl_288 stl_11 stl_409" style="word-spacing:-0.0398em;">30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:14.3585em;top:28.294em;"><span class="stl_288 stl_11 stl_284">2,739  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.2485em;top:28.294em;"><span class="stl_288 stl_11 stl_32">2,905  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.9729em;top:28.294em;"><span class="stl_288 stl_11 stl_199">1.5  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.8729em;top:28.294em;"><span class="stl_288 stl_11 stl_325">1.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2035em;top:28.294em;"><span class="stl_288 stl_11 stl_199">1.0%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.1935em;top:28.294em;"><span class="stl_288 stl_11 stl_922">1.1%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:29.7665em;"><span class="stl_438 stl_92 stl_471" style="word-spacing:-0.0432em;">Share capital  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:30.5209em;"><span class="stl_287 stl_08 stl_27" style="word-spacing:-0.0292em;">Ambu’s share capital is DKK 135m (DKK 135m), divided into two classes of shares with a nominal share value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:31.2709em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">of DKK 0.50.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:32.7709em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">A class A share carries 10 votes per share, while a class B share carries one vote per share. There is no differ-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:33.5209em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">ence between the economic rights pertaining to the individual share classes. All shares are paid-up in full.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:35.0134em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:35.7709em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Acquisition costs and consideration, as well as the dividend on treasury shares, are recognized directly in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:36.5209em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">retained earnings under equity. Proceeds from the sale of treasury shares and the issue of shares in Ambu  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:37.2709em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">A/S in connection with the exercise of share options, and from the sale of employee shares or warrants, are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:38.0209em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0377em;">taken directly to equity.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2258em;"><span class="stl_418 stl_11 stl_372" style="word-spacing:-0.0377em;">4.5 Share capital and treasury shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5312em;"><span class="stl_288 stl_11 stl_144" style="word-spacing:-0.0356em;">Development in the number of shares:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:14.4964em;top:11.9899em;"><span class="stl_288 stl_11 stl_375" style="word-spacing:-0.0429em;">Class A shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.3089em;top:11.9899em;"><span class="stl_288 stl_11 stl_375" style="word-spacing:-0.0429em;">Class B shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5826em;top:11.9899em;"><span class="stl_288 stl_11 stl_140" style="word-spacing:-0.0189em;">Total ('000)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:13.4514em;top:13.053em;"><span class="stl_288 stl_11 stl_116" style="word-spacing:1.6133em;">2024/25 2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.2432em;top:13.053em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.1482em;top:13.053em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.0351em;top:13.053em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.9401em;top:13.053em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:14.5074em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">Number of shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:15.2574em;"><span class="stl_287 stl_08 stl_394" style="word-spacing:-0.0418em;">issued, 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:14.1564em;top:15.2574em;"><span class="stl_287 stl_08 stl_118">34,320  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.052em;top:15.2574em;"><span class="stl_287 stl_08 stl_118">34,320  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.6651em;top:15.2574em;"><span class="stl_287 stl_08 stl_427">234,974  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.5607em;top:15.2574em;"><span class="stl_287 stl_08 stl_427">234,974  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.4551em;top:15.2574em;"><span class="stl_287 stl_08 stl_499">269,294  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.3507em;top:15.2574em;"><span class="stl_287 stl_08 stl_499">269,294  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7782em;top:16.1712em;"><span class="stl_288 stl_11 stl_412" style="word-spacing:-0.0407em;">Number of shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7782em;top:16.9212em;"><span class="stl_288 stl_11 stl_294" style="word-spacing:-0.0407em;">issued, 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:13.9101em;top:16.9212em;"><span class="stl_288 stl_11 stl_164">34,320  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.8089em;top:16.9212em;"><span class="stl_288 stl_11 stl_164">34,320  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.3732em;top:16.9212em;"><span class="stl_288 stl_11 stl_588">234,974  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.2689em;top:16.9212em;"><span class="stl_288 stl_11 stl_588">234,974  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.1657em;top:16.9212em;"><span class="stl_288 stl_11 stl_325">269,294  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.0614em;top:16.9212em;"><span class="stl_288 stl_11 stl_325">269,294  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:19.1405em;"><span class="stl_288 stl_11 stl_245" style="word-spacing:-0.0402em;">Development in treasury shares:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.2998em;top:19.849em;"><span class="stl_288 stl_11 stl_271" style="word-spacing:-0.0372em;">Nominal value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.6954em;top:19.849em;"><span class="stl_288 stl_11 stl_297" style="word-spacing:-0.038em;">In %  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.2267em;top:20.599em;"><span class="stl_288 stl_11 stl_128" style="word-spacing:-0.0251em;">No. ('000)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.3529em;top:20.599em;"><span class="stl_288 stl_11 stl_408">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9429em;top:20.599em;"><span class="stl_288 stl_11 stl_528" style="word-spacing:-0.0444em;">of share capital  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:13.4517em;top:21.6621em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.3567em;top:21.6621em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.2435em;top:21.6621em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.1485em;top:21.6621em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.0354em;top:21.6621em;"><span class="stl_288 stl_11 stl_116" style="word-spacing:1.6133em;">2024/25 2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7791em;top:23.1165em;"><span class="stl_287 stl_08 stl_334" style="word-spacing:-0.0467em;">1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:14.5642em;top:23.1165em;"><span class="stl_287 stl_08 stl_57">2,905  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.4635em;top:23.1165em;"><span class="stl_287 stl_08 stl_199">2,993  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.0979em;top:23.1165em;"><span class="stl_287 stl_08 stl_122">1.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9948em;top:23.1165em;"><span class="stl_287 stl_08 stl_122">1.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4467em;top:23.1165em;"><span class="stl_287 stl_08 stl_302">1.1%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.3435em;top:23.1165em;"><span class="stl_287 stl_08 stl_302">1.1%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7785em;top:24.0378em;"><span class="stl_287 stl_08 stl_396" style="word-spacing:-0.0404em;">Disposals, long-term  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7785em;top:24.7878em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0353em;">incentive schemes  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.2573em;top:24.7878em;"><span class="stl_287 stl_08 stl_253">-25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.881em;top:24.7878em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.7785em;top:24.7878em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.676em;top:24.7878em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.5735em;top:24.7878em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.471em;top:24.7878em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7773em;top:25.709em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0365em;">Disposals, employee shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7773em;top:26.459em;"><span class="stl_287 stl_08 stl_408" style="word-spacing:-0.0193em;">(matching shares)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.2473em;top:26.459em;"><span class="stl_287 stl_08 stl_55">-59  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.111em;top:26.459em;"><span class="stl_287 stl_08 stl_877">-88  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.7779em;top:26.459em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6754em;top:26.459em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.5729em;top:26.459em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4704em;top:26.459em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:27.3803em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0367em;">Disposals, share options  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.2242em;top:27.3803em;"><span class="stl_287 stl_08 stl_433">-82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.8798em;top:27.3803em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.8948em;top:27.3803em;z-index:676;"><span class="stl_287 stl_08 stl_317">-0</span><span class="stl_287 stl_08 stl_318">.</span><span class="stl_287 stl_08 stl_318">1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6748em;top:27.3803em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1885em;top:27.3803em;z-index:681;"><span class="stl_287 stl_08 stl_317">-0</span><span class="stl_287 stl_08 stl_318">.</span><span class="stl_287 stl_08 stl_302">1%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4704em;top:27.3803em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:28.294em;"><span class="stl_288 stl_11 stl_409" style="word-spacing:-0.0398em;">30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:14.3585em;top:28.294em;"><span class="stl_288 stl_11 stl_284">2,739  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.2485em;top:28.294em;"><span class="stl_288 stl_11 stl_32">2,905  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.9729em;top:28.294em;"><span class="stl_288 stl_11 stl_199">1.5  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.8729em;top:28.294em;"><span class="stl_288 stl_11 stl_325">1.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2035em;top:28.294em;"><span class="stl_288 stl_11 stl_199">1.0%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.1935em;top:28.294em;"><span class="stl_288 stl_11 stl_922">1.1%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:29.7665em;"><span class="stl_438 stl_92 stl_471" style="word-spacing:-0.0432em;">Share capital  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:30.5209em;"><span class="stl_287 stl_08 stl_27" style="word-spacing:-0.0292em;">Ambu’s share capital is DKK 135m (DKK 135m), divided into two classes of shares with a nominal share value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:31.2709em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">of DKK 0.50.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:32.7709em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">A class A share carries 10 votes per share, while a class B share carries one vote per share. There is no differ-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:33.5209em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">ence between the economic rights pertaining to the individual share classes. All shares are paid-up in full.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:35.0134em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:35.7709em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Acquisition costs and consideration, as well as the dividend on treasury shares, are recognized directly in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:36.5209em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">retained earnings under equity. Proceeds from the sale of treasury shares and the issue of shares in Ambu  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:37.2709em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">A/S in connection with the exercise of share options, and from the sale of employee shares or warrants, are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:38.0209em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0377em;">taken directly to equity.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2258em;"><span class="stl_418 stl_11 stl_372" style="word-spacing:-0.0377em;">4.5 Share capital and treasury shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5312em;"><span class="stl_288 stl_11 stl_144" style="word-spacing:-0.0356em;">Development in the number of shares:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:14.4964em;top:11.9899em;"><span class="stl_288 stl_11 stl_375" style="word-spacing:-0.0429em;">Class A shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.3089em;top:11.9899em;"><span class="stl_288 stl_11 stl_375" style="word-spacing:-0.0429em;">Class B shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.5826em;top:11.9899em;"><span class="stl_288 stl_11 stl_140" style="word-spacing:-0.0189em;">Total ('000)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:13.4514em;top:13.053em;"><span class="stl_288 stl_11 stl_116" style="word-spacing:1.6133em;">2024/25 2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.2432em;top:13.053em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.1482em;top:13.053em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.0351em;top:13.053em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.9401em;top:13.053em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:14.5074em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">Number of shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:15.2574em;"><span class="stl_287 stl_08 stl_394" style="word-spacing:-0.0418em;">issued, 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:14.1564em;top:15.2574em;"><span class="stl_287 stl_08 stl_118">34,320  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.052em;top:15.2574em;"><span class="stl_287 stl_08 stl_118">34,320  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.6651em;top:15.2574em;"><span class="stl_287 stl_08 stl_427">234,974  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.5607em;top:15.2574em;"><span class="stl_287 stl_08 stl_427">234,974  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.4551em;top:15.2574em;"><span class="stl_287 stl_08 stl_499">269,294  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.3507em;top:15.2574em;"><span class="stl_287 stl_08 stl_499">269,294  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7782em;top:16.1712em;"><span class="stl_288 stl_11 stl_412" style="word-spacing:-0.0407em;">Number of shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7782em;top:16.9212em;"><span class="stl_288 stl_11 stl_294" style="word-spacing:-0.0407em;">issued, 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:13.9101em;top:16.9212em;"><span class="stl_288 stl_11 stl_164">34,320  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.8089em;top:16.9212em;"><span class="stl_288 stl_11 stl_164">34,320  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.3732em;top:16.9212em;"><span class="stl_288 stl_11 stl_588">234,974  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.2689em;top:16.9212em;"><span class="stl_288 stl_11 stl_588">234,974  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.1657em;top:16.9212em;"><span class="stl_288 stl_11 stl_325">269,294  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.0614em;top:16.9212em;"><span class="stl_288 stl_11 stl_325">269,294  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7776em;top:19.1405em;"><span class="stl_288 stl_11 stl_245" style="word-spacing:-0.0402em;">Development in treasury shares:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.2998em;top:19.849em;"><span class="stl_288 stl_11 stl_271" style="word-spacing:-0.0372em;">Nominal value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.6954em;top:19.849em;"><span class="stl_288 stl_11 stl_297" style="word-spacing:-0.038em;">In %  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.2267em;top:20.599em;"><span class="stl_288 stl_11 stl_128" style="word-spacing:-0.0251em;">No. ('000)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.3529em;top:20.599em;"><span class="stl_288 stl_11 stl_408">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.9429em;top:20.599em;"><span class="stl_288 stl_11 stl_528" style="word-spacing:-0.0444em;">of share capital  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:13.4517em;top:21.6621em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.3567em;top:21.6621em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.2435em;top:21.6621em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:25.1485em;top:21.6621em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.0354em;top:21.6621em;"><span class="stl_288 stl_11 stl_116" style="word-spacing:1.6133em;">2024/25 2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7791em;top:23.1165em;"><span class="stl_287 stl_08 stl_334" style="word-spacing:-0.0467em;">1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:14.5642em;top:23.1165em;"><span class="stl_287 stl_08 stl_57">2,905  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.4635em;top:23.1165em;"><span class="stl_287 stl_08 stl_199">2,993  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.0979em;top:23.1165em;"><span class="stl_287 stl_08 stl_122">1.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.9948em;top:23.1165em;"><span class="stl_287 stl_08 stl_122">1.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.4467em;top:23.1165em;"><span class="stl_287 stl_08 stl_302">1.1%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.3435em;top:23.1165em;"><span class="stl_287 stl_08 stl_302">1.1%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7785em;top:24.0378em;"><span class="stl_287 stl_08 stl_396" style="word-spacing:-0.0404em;">Disposals, long-term  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7785em;top:24.7878em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0353em;">incentive schemes  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.2573em;top:24.7878em;"><span class="stl_287 stl_08 stl_253">-25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.881em;top:24.7878em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.7785em;top:24.7878em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.676em;top:24.7878em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.5735em;top:24.7878em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.471em;top:24.7878em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7773em;top:25.709em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0365em;">Disposals, employee shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7773em;top:26.459em;"><span class="stl_287 stl_08 stl_408" style="word-spacing:-0.0193em;">(matching shares)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.2473em;top:26.459em;"><span class="stl_287 stl_08 stl_55">-59  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.111em;top:26.459em;"><span class="stl_287 stl_08 stl_877">-88  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:23.7779em;top:26.459em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6754em;top:26.459em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.5729em;top:26.459em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4704em;top:26.459em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:27.3803em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0367em;">Disposals, share options  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.2242em;top:27.3803em;"><span class="stl_287 stl_08 stl_433">-82  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:19.8798em;top:27.3803em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.8948em;top:27.3803em;z-index:676;"><span class="stl_287 stl_08 stl_317">-0</span><span class="stl_287 stl_08 stl_318">.</span><span class="stl_287 stl_08 stl_318">1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.6748em;top:27.3803em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1885em;top:27.3803em;z-index:681;"><span class="stl_287 stl_08 stl_317">-0</span><span class="stl_287 stl_08 stl_318">.</span><span class="stl_287 stl_08 stl_302">1%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.4704em;top:27.3803em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:28.294em;"><span class="stl_288 stl_11 stl_409" style="word-spacing:-0.0398em;">30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:14.3585em;top:28.294em;"><span class="stl_288 stl_11 stl_284">2,739  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:18.2485em;top:28.294em;"><span class="stl_288 stl_11 stl_32">2,905  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:22.9729em;top:28.294em;"><span class="stl_288 stl_11 stl_199">1.5  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:26.8729em;top:28.294em;"><span class="stl_288 stl_11 stl_325">1.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.2035em;top:28.294em;"><span class="stl_288 stl_11 stl_199">1.0%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.1935em;top:28.294em;"><span class="stl_288 stl_11 stl_922">1.1%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:29.7665em;"><span class="stl_438 stl_92 stl_471" style="word-spacing:-0.0432em;">Share capital  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:30.5209em;"><span class="stl_287 stl_08 stl_27" style="word-spacing:-0.0292em;">Ambu’s share capital is DKK 135m (DKK 135m), divided into two classes of shares with a nominal share value  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:31.2709em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">of DKK 0.50.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:32.7709em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0342em;">A class A share carries 10 votes per share, while a class B share carries one vote per share. There is no differ-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:33.5209em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">ence between the economic rights pertaining to the individual share classes. All shares are paid-up in full.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:35.0134em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:35.7709em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Acquisition costs and consideration, as well as the dividend on treasury shares, are recognized directly in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:36.5209em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">retained earnings under equity. Proceeds from the sale of treasury shares and the issue of shares in Ambu  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:37.2709em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">A/S in connection with the exercise of share options, and from the sale of employee shares or warrants, are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:38.0209em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0377em;">taken directly to equity.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:35.0134em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:35.7709em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Acquisition costs and consideration, as well as the dividend on treasury shares, are recognized directly in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:36.5209em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">retained earnings under equity. Proceeds from the sale of treasury shares and the issue of shares in Ambu  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:37.2709em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">A/S in connection with the exercise of share options, and from the sale of employee shares or warrants, are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:38.0209em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0377em;">taken directly to equity.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:35.0134em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:35.7709em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Acquisition costs and consideration, as well as the dividend on treasury shares, are recognized directly in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:36.5209em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">retained earnings under equity. Proceeds from the sale of treasury shares and the issue of shares in Ambu  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:37.2709em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">A/S in connection with the exercise of share options, and from the sale of employee shares or warrants, are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7766em;top:38.0209em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0377em;">taken directly to equity.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2256em;"><span class="stl_418 stl_11 stl_462" style="word-spacing:-0.0095em;">5.1 Provisions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6877em;top:10.4899em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.947em;top:10.4899em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0487em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">Provisions at 1 October  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.6864em;top:12.0487em;"><span class="stl_287 stl_08 stl_187">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9639em;top:12.0487em;"><span class="stl_287 stl_08 stl_364">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.9699em;"><span class="stl_287 stl_08 stl_45" style="word-spacing:-0.033em;">Additions during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.052em;top:12.9699em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3039em;top:12.9699em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:13.8912em;"><span class="stl_287 stl_08 stl_169" style="word-spacing:-0.0334em;">Used during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.8558em;top:13.8912em;"><span class="stl_287 stl_08 stl_25">-9  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.0914em;top:13.8912em;"><span class="stl_287 stl_08 stl_93">-3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:14.8124em;"><span class="stl_287 stl_08 stl_23" style="word-spacing:-0.0302em;">Value adjustment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.8252em;top:14.8124em;"><span class="stl_287 stl_08 stl_353">-6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.1127em;top:14.8124em;"><span class="stl_287 stl_08 stl_77">-2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:15.7262em;"><span class="stl_288 stl_11 stl_403" style="word-spacing:-0.0383em;">Provisions at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.012em;top:15.7262em;"><span class="stl_288 stl_11 stl_25">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8508em;top:15.7262em;"><span class="stl_288 stl_11 stl_78">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:17.1593em;"><span class="stl_288 stl_11 stl_372" style="word-spacing:-0.0376em;">Provisions expected to fall due:  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:18.0881em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">Non-current liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0514em;top:18.0881em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.9683em;top:18.0881em;"><span class="stl_287 stl_08 stl_792">14  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:19.0093em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0326em;">Current liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0514em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:35.3033em;top:19.0093em;"><span class="stl_287 stl_08 stl_25">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:19.9231em;"><span class="stl_288 stl_11 stl_403" style="word-spacing:-0.0383em;">Provisions at 30 September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.0114em;top:19.9231em;"><span class="stl_288 stl_11 stl_25">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8502em;top:19.9231em;"><span class="stl_288 stl_11 stl_78">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:21.3999em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.034em;">Provisions at the balance sheet date concern deferred purchase price relating to acquired technology in pre-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:22.1499em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">vious years, onerous contracts, and other items.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:23.6424em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:24.3999em;"><span class="stl_287 stl_08 stl_146" style="word-spacing:-0.032em;">Provisions are recognized when the Group, as a result of an event occuring before or on the balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:25.1499em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">date, has incurred a legal or actual liability, and it is probable that economic benefits will flow from the Group  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:25.8999em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0371em;">in order to settle the liability. If the effect of the time value of money is significant, provisions are discounted  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:26.6499em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">using a pre-tax discount rate. When applying a discount rate, the change in provisions, due to the timing, is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:27.3999em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0351em;">recognized as a financial cost.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:9.2258em;"><span class="stl_418 stl_11 stl_27" style="word-spacing:-0.0292em;">5.2 Fee to auditors appointed by the annual general meeting  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.4974em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3569em;top:10.4899em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6163em;top:10.4899em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0487em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0347em;">Audit fee  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.1745em;top:12.0487em;"><span class="stl_287 stl_08 stl_361">5.5  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.4326em;top:12.0487em;"><span class="stl_287 stl_08 stl_48">5.8  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.9699em;"><span class="stl_287 stl_08 stl_396" style="word-spacing:-0.0404em;">Other assurance engagements  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.2276em;top:12.9699em;"><span class="stl_287 stl_08 stl_308">1.7  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.432em;top:12.9699em;"><span class="stl_287 stl_08 stl_78">0.8  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:13.8912em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.0371em;">Tax consultancy services  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8901em;top:13.8912em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.4863em;top:13.8912em;z-index:1146;"><span class="stl_287 stl_08 stl_758">0.1  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.8124em;"><span class="stl_287 stl_08 stl_542" style="word-spacing:-0.0498em;">Other services  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8901em;top:14.8124em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.4313em;top:14.8124em;"><span class="stl_287 stl_08 stl_78">0.8  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:15.7262em;"><span class="stl_288 stl_11 stl_24" style="word-spacing:-0.0266em;">Total fees  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.1113em;top:15.7262em;z-index:1176;"><span class="stl_288 stl_11 stl_923">7</span><span class="stl_288 stl_11 stl_317">.</span><span class="stl_288 stl_11 stl_317">2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.3669em;top:15.7262em;z-index:1179;"><span class="stl_288 stl_11 stl_923">7</span><span class="stl_288 stl_11 stl_322">.</span><span class="stl_288 stl_11 stl_322">5  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:17.203em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">Fee for non-audit services provided to the Group by EY Godkendt Revisionspartnerselskab, Denmark,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:17.953em;"><span class="stl_287 stl_08 stl_110" style="word-spacing:-0.0242em;">amounted to DKK 1.7m (DKK 1.7m), relating mainly to other assurance reports.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:20.1126em;"><span class="stl_418 stl_11 stl_144" style="word-spacing:-0.0356em;">5.3 Related parties  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:21.4255em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0349em;">The Group’s related parties include the company’s Board of Directors and Executive Management and mem-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:22.1755em;"><span class="stl_287 stl_08 stl_285" style="word-spacing:-0.0387em;">bers of their families. Related parties furthermore include enterprises in which the aforementioned persons  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:22.9255em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">have a significant interest.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:24.4255em;"><span class="stl_287 stl_08 stl_82" style="word-spacing:-0.0315em;">During the year, no transactions, except for payment of the Management’s remuneration (notes 2.3 and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:25.1755em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">5.4) and ordinary dividend payments, took place with the Board of Directors, Executive Management, major  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:25.9255em;"><span class="stl_287 stl_08 stl_529" style="word-spacing:-0.0389em;">shareholders, or other related parties.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:23.6424em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:24.3999em;"><span class="stl_287 stl_08 stl_146" style="word-spacing:-0.032em;">Provisions are recognized when the Group, as a result of an event occuring before or on the balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:25.1499em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">date, has incurred a legal or actual liability, and it is probable that economic benefits will flow from the Group  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:25.8999em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0371em;">in order to settle the liability. If the effect of the time value of money is significant, provisions are discounted  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:26.6499em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">using a pre-tax discount rate. When applying a discount rate, the change in provisions, due to the timing, is  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:27.3999em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0351em;">recognized as a financial cost.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2258em;"><span class="stl_418 stl_11 stl_82" style="word-spacing:-0.0317em;">5.4 Share-based payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5387em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0351em;">The Group's incentive-based remuneration to the Executive Management is described in the Remuneration  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2887em;"><span class="stl_287 stl_08 stl_38" style="word-spacing:-0.0321em;">Report 2024/25. Share-based payment is governed by the Remuneration Policy approved by the Board of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0387em;"><span class="stl_287 stl_08 stl_47" style="word-spacing:-0.0399em;">Directors. The Board of Directors does not receive share-based payment.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.5387em;"><span class="stl_287 stl_08 stl_37" style="word-spacing:-0.0312em;">The total expense in profit or loss for share-based payment was DKK 31m (DKK 26m).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.0343em;"><span class="stl_438 stl_92 stl_133" style="word-spacing:-0.0383em;">Performance Share Units (PSU)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.7887em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.034em;">In 2024/25 Ambu established a share-based long-term incentive plan for the Executive Management and key  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.5387em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">employees selected on the basis of job level, by way of granting PSUs. The financial target weighted into the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.2887em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.0299em;">performance was organic revenue growth for the Group (35%) and Endoscopy Solutions (35%), respectively,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.0387em;"><span class="stl_287 stl_08 stl_18" style="word-spacing:-0.0298em;">and EBIT margin before special items (30%), which was achieved by 53% of maximum potential.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.5387em;"><span class="stl_287 stl_08 stl_148" style="word-spacing:-0.03em;">In 2023/24 a PSU program was granted under the same conditions as for 2024/25. The financial target was  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.2887em;"><span class="stl_287 stl_08 stl_76" style="word-spacing:-0.0259em;">organic revenue growth (50%) and EBIT margin before special items (50%), which was achieved by 91% of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.0387em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0324em;">maximum potential.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.5387em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0355em;">The fair value per PSU at grant date was DKK </span><span class="stl_287 stl_08 stl_340">1</span><span class="stl_287 stl_08 stl_177" style="word-spacing:-0.0307em;">11 (DKK 99). PSU programs vest three years after grant.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.0343em;"><span class="stl_438 stl_92 stl_360" style="word-spacing:-0.0365em;">Employee shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.7887em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0396em;">Ambu offers all its employees the opportunity to acquire a number of shares based on a fixed percentage  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.5387em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">of their annual base salary. The number of shares with which an employee participates is matched free of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.2887em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0384em;">charge after two years (Restricted Stock Units).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:27.7887em;"><span class="stl_287 stl_08 stl_24" style="word-spacing:-0.0266em;">The fair value per share at grant date was DKK 109 (DKK 130).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:29.2812em;"><span class="stl_288 stl_11 stl_372" style="word-spacing:-0.0376em;">§ Accounting policy  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:30.0387em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">The fair value of Ambu’s share-based payment is expensed on an accrual basis. Fair value of equity-based  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:30.7887em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">schemes at the time of allocation is calculated according to recognized valuation models or methods. This  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:31.5387em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">value is expensed over the service period for each of the respective schemes and is taken to equity. On rec-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:32.2887em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">ognition of the fair value during the service period, account is taken of the number of employees who are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:33.0387em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">expected to obtain a final right to the scheme, including the conditions to which the allocation is subject.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:33.7887em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0395em;">This estimate is reassessed at the end of each reporting period so that only the number of rights expected to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:34.5387em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">be vested is recognized. Adjustments relating to previous periods are recognized in the period in which the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:35.2887em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0343em;">adjustment is made. The fair value per unit does not change.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.9769em;top:9.7581em;"><span class="stl_288 stl_11 stl_47">Executive  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4738em;top:9.7581em;"><span class="stl_288 stl_11 stl_566">Other  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.5081em;"><span class="stl_288 stl_11 stl_433" style="word-spacing:-0.0451em;">Shares outstanding  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:58.8776em;top:10.5081em;"><span class="stl_288 stl_11 stl_151" style="word-spacing:1.0178em;">Management employees  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.7919em;top:10.5081em;"><span class="stl_288 stl_11 stl_579">Total  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0669em;"><span class="stl_287 stl_08 stl_45" style="word-spacing:-0.0331em;">Shares outstanding at 1 October, 2023  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.0351em;top:12.0669em;"><span class="stl_287 stl_08 stl_147">85,238  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5394em;top:12.0669em;"><span class="stl_287 stl_08 stl_924">1,870,411  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.4751em;top:12.0669em;"><span class="stl_287 stl_08 stl_265">1,955,649  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:12.9881em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0328em;">Shares granted during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.0657em;top:12.9881em;"><span class="stl_287 stl_08 stl_111">90,824  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9901em;top:12.9881em;"><span class="stl_287 stl_08 stl_491">277,388  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9819em;top:12.9881em;"><span class="stl_287 stl_08 stl_357">368,212  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:13.9094em;"><span class="stl_287 stl_08 stl_23" style="word-spacing:-0.0301em;">Transferred during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.8838em;top:13.9094em;"><span class="stl_287 stl_08 stl_181">-21,564  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.3257em;top:13.9094em;"><span class="stl_287 stl_08 stl_592">21,564  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:71.1419em;top:13.9094em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:14.8306em;"><span class="stl_287 stl_08 stl_177" style="word-spacing:-0.0306em;">Shares exercised during the year</span><sup style="top: -0.2079em;"><span class="stl_667 stl_08 stl_644" style="word-spacing:-0.0526em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.8746em;top:14.8308em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.1809em;top:14.8308em;z-index:310;"><span class="stl_287 stl_08 stl_444">-88</span><span class="stl_287 stl_08 stl_802">,</span><span class="stl_287 stl_08 stl_389">178  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.1952em;top:14.8308em;z-index:317;"><span class="stl_287 stl_08 stl_444">-88</span><span class="stl_287 stl_08 stl_802">,</span><span class="stl_287 stl_08 stl_389">178  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.449em;top:15.7521em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0323em;">Shared lapsed during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.8746em;top:15.7521em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.664em;top:15.7521em;"><span class="stl_287 stl_08 stl_473">-483,584  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6778em;top:15.7521em;"><span class="stl_287 stl_08 stl_473">-483,584  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4484em;top:16.6658em;"><span class="stl_288 stl_11 stl_396" style="word-spacing:-0.0404em;">Shares outstanding at 30 September 2024  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.4371em;top:16.6658em;"><span class="stl_288 stl_11 stl_384">154,498  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.1515em;top:16.6658em;"><span class="stl_288 stl_11 stl_925" style="word-spacing:1.0481em;">1,597,601 1,752,099  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4484em;top:18.1064em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0328em;">Shares granted during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.1003em;top:18.1064em;"><span class="stl_287 stl_08 stl_520">53,981  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.0278em;top:18.1064em;"><span class="stl_287 stl_08 stl_261">247,390  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.0196em;top:18.1064em;"><span class="stl_287 stl_08 stl_385">301,371  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4484em;top:19.0277em;"><span class="stl_287 stl_08 stl_177" style="word-spacing:-0.0306em;">Shares exercised during the year</span><sup style="top: -0.2079em;"><span class="stl_667 stl_08 stl_644" style="word-spacing:-0.0525em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.1689em;top:19.0279em;"><span class="stl_287 stl_08 stl_513">-8,548  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9301em;top:19.0279em;"><span class="stl_287 stl_08 stl_926">-157,076  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8333em;top:19.0279em;"><span class="stl_287 stl_08 stl_927">-165,624  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4489em;top:19.9491em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0323em;">Shared lapsed during the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.8745em;top:19.9491em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.8339em;top:19.9491em;"><span class="stl_287 stl_08 stl_663">-941,733  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8501em;top:19.9491em;"><span class="stl_287 stl_08 stl_663">-941,733  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4483em;top:20.8629em;"><span class="stl_288 stl_11 stl_293" style="word-spacing:-0.0363em;">Shares outstanding at 30 September, 2025  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.5176em;top:20.8629em;"><span class="stl_288 stl_11 stl_788">199,931  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.7689em;top:20.8629em;"><span class="stl_288 stl_11 stl_779">746,182  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.8026em;top:20.8629em;"><span class="stl_288 stl_11 stl_928">946,113  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:22.3343em;"><span class="stl_390 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.9213em;top:22.2958em;"><span class="stl_391 stl_08 stl_510" style="word-spacing:-0.0392em;">The average market price on the date of exercise in 2024/25 was DKK 104 for PSUs and DKK 101 (DKK 131) for employee shares.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:22.8793em;"><span class="stl_391 stl_08 stl_322" style="word-spacing:-0.046em;">In 2024/25, the remaining legacy program of stock options expired, except for 82,228 stock options exercised at an average market  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.4628em;"><span class="stl_391 stl_08 stl_396" style="word-spacing:-0.0404em;">price of DKK 142 and an exercise price of DKK 134.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.8801em;top:25.3742em;"><span class="stl_288 stl_11 stl_31">Maximum  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.5382em;top:25.3742em;"><span class="stl_288 stl_11 stl_39" style="word-spacing:0.6621em;">Accumu- Remaining  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:54.9445em;top:26.1242em;"><span class="stl_288 stl_11 stl_510" style="word-spacing:-0.0391em;">Shares at 30  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.8313em;top:26.1242em;"><span class="stl_288 stl_11 stl_159">market  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.2495em;top:26.1242em;"><span class="stl_288 stl_11 stl_347" style="word-spacing:-0.0434em;">lated cost</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:67.890em;top:26.1242em;"><span class="stl_288 stl_11 stl_298" style="word-spacing:-0.0373em;">value to be  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:26.8742em;"><span class="stl_288 stl_11 stl_557" style="word-spacing:-0.0447em;">Number of outstanding shares  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:55.3332em;top:26.8742em;"><span class="stl_288 stl_11 stl_294">September  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:60.6007em;top:26.8742em;"><span class="stl_288 stl_11 stl_297" style="word-spacing:-0.038em;">value at</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.796em;top:26.8742em;"><span class="stl_288 stl_11 stl_372" style="word-spacing:1.1935em;">recognized expensed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:27.6242em;"><span class="stl_288 stl_11 stl_476" style="word-spacing:-0.0497em;">in Ambu A/S  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:57.1801em;top:27.6242em;"><span class="stl_288 stl_11 stl_487">2025  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.3663em;top:27.6242em;"><span class="stl_288 stl_11 stl_344">grant  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.8951em;top:27.6242em;"><span class="stl_288 stl_11 stl_408">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.9107em;top:27.6242em;"><span class="stl_288 stl_11 stl_408">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:29.1829em;"><span class="stl_287 stl_08 stl_18" style="word-spacing:-0.0298em;">Program granted, (vesting)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:30.1042em;"><span class="stl_287 stl_08 stl_20" style="word-spacing:-0.0105em;">January 2023, (2026)</span><sup style="top: -0.2081em;"><span class="stl_667 stl_08 stl_137" style="word-spacing:-0.018em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.4364em;top:30.1042em;"><span class="stl_287 stl_08 stl_419">294,589  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.3327em;top:30.1042em;"><span class="stl_287 stl_08 stl_76">38  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.5914em;top:30.1042em;"><span class="stl_287 stl_08 stl_189">25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9733em;top:30.1042em;"><span class="stl_287 stl_08 stl_25">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4483em;top:31.0255em;"><span class="stl_287 stl_08 stl_282" style="word-spacing:-0.0124em;">January 2024, (2027)</span><sup style="top: -0.2081em;"><span class="stl_667 stl_08 stl_129" style="word-spacing:-0.0213em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.5409em;top:31.0255em;"><span class="stl_287 stl_08 stl_894">309,166  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.3509em;top:31.0255em;"><span class="stl_287 stl_08 stl_63">37  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.5921em;top:31.0255em;"><span class="stl_287 stl_08 stl_189">20  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6377em;top:31.0255em;"><span class="stl_287 stl_08 stl_352">13  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.449em;top:31.9468em;"><span class="stl_287 stl_08 stl_195" style="word-spacing:0.0018em;">May 2024, (2026)</span><sup style="top: -0.2081em;"><span class="stl_667 stl_08 stl_226" style="word-spacing:0.0032em;">2  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.8433em;top:31.9469em;"><span class="stl_287 stl_08 stl_253">46,959  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.7058em;top:31.9469em;"><span class="stl_287 stl_08 stl_25">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.9577em;top:31.9469em;"><span class="stl_287 stl_08 stl_25">4</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9733em;top:31.9469em;"><span class="stl_287 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4483em;top:32.8681em;"><span class="stl_287 stl_08 stl_330" style="word-spacing:-0.0126em;">January 2025, (2028)</span><sup style="top: -0.2081em;"><span class="stl_667 stl_08 stl_113" style="word-spacing:-0.0216em;">1  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.586em;top:32.8682em;"><span class="stl_287 stl_08 stl_722">217,782  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.3241em;top:32.8682em;"><span class="stl_287 stl_08 stl_416">46  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.9579em;top:32.8682em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6335em;top:32.8682em;"><span class="stl_287 stl_08 stl_364">18  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4491em;top:33.7894em;"><span class="stl_287 stl_08 stl_328" style="word-spacing:-0.0059em;">May 2025, (2027)</span><sup style="top: -0.2081em;"><span class="stl_667 stl_08 stl_442" style="word-spacing:-0.0102em;">2  </span></sup></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.9567em;top:33.7895em;"><span class="stl_287 stl_08 stl_929">77,617  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:62.706em;top:33.7895em;"><span class="stl_287 stl_08 stl_25">8</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.9579em;top:33.7895em;"><span class="stl_287 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9735em;top:33.7895em;"><span class="stl_287 stl_08 stl_25">7</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4485em;top:34.7032em;"><span class="stl_288 stl_11 stl_510" style="word-spacing:-0.0393em;">Total number of shares outstanding  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:56.2835em;top:34.7032em;"><span class="stl_288 stl_11 stl_928">946,113  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:61.8698em;top:34.7032em;"><span class="stl_288 stl_11 stl_29">135  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.5273em;top:34.7032em;"><span class="stl_288 stl_11 stl_56">57  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.511em;top:34.7032em;"><span class="stl_288 stl_11 stl_300">44  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:36.1745em;"><span class="stl_390 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.9213em;top:36.1361em;"><span class="stl_391 stl_08 stl_542" style="word-spacing:-0.0497em;">The weighted average remaining contractual life of all outstanding PSUs was 1.2 years.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:36.7579em;"><span class="stl_390 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.9111em;top:36.7194em;"><span class="stl_391 stl_08 stl_633" style="word-spacing:-0.0493em;">The weighted average remaining contractual life of all outstanding employee shares was 1.3 years.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:29.2812em;"><span class="stl_288 stl_11 stl_372" style="word-spacing:-0.0376em;">§ Accounting policy  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:30.0387em;"><span class="stl_287 stl_08 stl_70" style="word-spacing:-0.0354em;">The fair value of Ambu’s share-based payment is expensed on an accrual basis. Fair value of equity-based  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:30.7887em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">schemes at the time of allocation is calculated according to recognized valuation models or methods. This  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:31.5387em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">value is expensed over the service period for each of the respective schemes and is taken to equity. On rec-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:32.2887em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">ognition of the fair value during the service period, account is taken of the number of employees who are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:33.0387em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">expected to obtain a final right to the scheme, including the conditions to which the allocation is subject.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:33.7887em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0395em;">This estimate is reassessed at the end of each reporting period so that only the number of rights expected to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:34.5387em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">be vested is recognized. Adjustments relating to previous periods are recognized in the period in which the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:35.2887em;"><span class="stl_287 stl_08 stl_151" style="word-spacing:-0.0343em;">adjustment is made. The fair value per unit does not change.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2256em;"><span class="stl_418 stl_11 stl_143" style="word-spacing:-0.0276em;">5.5 Group companies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5387em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0357em;">This note shows the legal entities which are consolidated in the consolidated financial statements.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.417em;top:11.9899em;"><span class="stl_288 stl_11 stl_296">Activity  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.3301em;top:13.053em;"><span class="stl_288 stl_11 stl_432">Owner-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.732em;top:13.7193em;"><span class="stl_288 stl_11 stl_347">Cur-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.3301em;top:13.7199em;"><span class="stl_288 stl_11 stl_297">ship  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.3019em;top:13.7271em;"><span class="stl_287 stl_08 stl_75">Produc-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.3862em;"><span class="stl_288 stl_11 stl_177">Company  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.2439em;top:14.3862em;"><span class="stl_288 stl_11 stl_512" style="word-spacing:-0.051em;">Reg. office  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.732em;top:14.3862em;"><span class="stl_288 stl_11 stl_541" style="word-spacing:1.0393em;">rency interest</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:27.354em;top:14.3862em;"><span class="stl_287 stl_08 stl_284">Sales</span><sup style="top: -0.2086em;"><span class="stl_667 stl_08 stl_25" style="word-spacing:1.6498em;">1 </span></sup><span class="stl_287 stl_08 stl_75">tion</span><sup style="top: -0.2083em;"><span class="stl_667 stl_08 stl_25" style="word-spacing:2.1838em;">2 </span></sup><span class="stl_287 stl_08 stl_396" style="word-spacing:0.8257em;">R&amp;D Other  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.78em;top:16.3232em;"><span class="stl_288 stl_11 stl_49" style="word-spacing:-0.0336em;">Parent company  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.78em;top:17.2519em;"><span class="stl_287 stl_08 stl_595" style="word-spacing:-0.056em;">Ambu A/S  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.2444em;top:17.2519em;"><span class="stl_287 stl_08 stl_74">Denmark  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:17.2519em;"><span class="stl_287 stl_08 stl_321">DKK  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.3306em;top:17.2519em;"><span class="stl_287 stl_08 stl_204">100%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.0744em;top:17.2519em;"><span class="stl_287 stl_08 stl_25">x</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3188em;top:17.2519em;"><span class="stl_287 stl_08 stl_25">x</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.5631em;top:17.2519em;"><span class="stl_287 stl_08 stl_25">x</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8075em;top:17.2519em;"><span class="stl_287 stl_08 stl_25">x</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7806em;top:19.0869em;"><span class="stl_288 stl_11 stl_361">Subsidiaries  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7806em;top:20.0157em;"><span class="stl_287 stl_08 stl_285" style="word-spacing:-0.0387em;">Ambu Australia Pty. Ltd.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.245em;top:20.0157em;"><span class="stl_287 stl_08 stl_475">Australia  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7331em;top:20.0157em;"><span class="stl_287 stl_08 stl_138">AUD  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.3313em;top:20.0157em;"><span class="stl_287 stl_08 stl_204">100%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.075em;top:20.0157em;"><span class="stl_287 stl_08 stl_25">x</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.78em;top:20.9369em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0378em;">Ambu Healthcare Solutions Canada Inc.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.2394em;top:20.9369em;"><span class="stl_287 stl_08 stl_297">Canada  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7325em;top:20.9369em;"><span class="stl_287 stl_08 stl_930">CAD  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.3306em;top:20.9369em;"><span class="stl_287 stl_08 stl_204">100%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.0744em;top:20.9369em;"><span class="stl_287 stl_08 stl_25">x</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7794em;top:21.8582em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.034em;">Ambu Ltd.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.2438em;top:21.8582em;"><span class="stl_287 stl_08 stl_148">China  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7319em;top:21.8582em;"><span class="stl_287 stl_08 stl_321">CNY  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.33em;top:21.8582em;"><span class="stl_287 stl_08 stl_204">100%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3175em;top:21.8582em;"><span class="stl_287 stl_08 stl_25">x</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.5619em;top:21.8582em;"><span class="stl_287 stl_08 stl_25">x</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7787em;top:22.7794em;"><span class="stl_287 stl_08 stl_138" style="word-spacing:-0.022em;">Ambu (Xiamen) Trading Co., Ltd.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.2431em;top:22.7794em;"><span class="stl_287 stl_08 stl_148">China  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7313em;top:22.7794em;"><span class="stl_287 stl_08 stl_321">CNY  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.3294em;top:22.7794em;"><span class="stl_287 stl_08 stl_204">100%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.0731em;top:22.7794em;"><span class="stl_287 stl_08 stl_25">x</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7781em;top:23.7007em;"><span class="stl_287 stl_08 stl_536" style="word-spacing:-0.0456em;">Ambu Nordic A/S  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.2425em;top:23.7007em;"><span class="stl_287 stl_08 stl_74">Denmark  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7306em;top:23.7007em;"><span class="stl_287 stl_08 stl_321">DKK  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.3287em;top:23.7007em;"><span class="stl_287 stl_08 stl_204">100%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8044em;top:23.7007em;"><span class="stl_287 stl_08 stl_25">x</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7775em;top:24.6219em;"><span class="stl_287 stl_08 stl_392" style="word-spacing:-0.0461em;">Ambu Operations A/S  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.2419em;top:24.6219em;"><span class="stl_287 stl_08 stl_74">Denmark  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.73em;top:24.6219em;"><span class="stl_287 stl_08 stl_78">USD  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.3281em;top:24.6219em;"><span class="stl_287 stl_08 stl_204">100%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3156em;top:24.6219em;"><span class="stl_287 stl_08 stl_25">x</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7769em;top:25.5432em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">Ambu Sarl  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.2412em;top:25.5432em;"><span class="stl_287 stl_08 stl_61">France  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7294em;top:25.5432em;"><span class="stl_287 stl_08 stl_45">EUR  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.3275em;top:25.5432em;"><span class="stl_287 stl_08 stl_204">100%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.0712em;top:25.5432em;"><span class="stl_287 stl_08 stl_25">x</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7762em;top:26.4644em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0387em;">Ambu GmbH  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.2406em;top:26.4644em;"><span class="stl_287 stl_08 stl_169">Germany  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7287em;top:26.4644em;"><span class="stl_287 stl_08 stl_45">EUR  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.3269em;top:26.4644em;"><span class="stl_287 stl_08 stl_204">100%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.0706em;top:26.4644em;"><span class="stl_287 stl_08 stl_25">x</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7756em;top:27.3857em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">Ambu Innovation GmbH  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.24em;top:27.3857em;"><span class="stl_287 stl_08 stl_169">Germany  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7281em;top:27.3857em;"><span class="stl_287 stl_08 stl_45">EUR  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.3262em;top:27.3857em;"><span class="stl_287 stl_08 stl_204">100%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.5581em;top:27.3857em;"><span class="stl_287 stl_08 stl_25">x</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.775em;top:28.3069em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">Ambu India Private Limited  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.2394em;top:28.3069em;"><span class="stl_287 stl_08 stl_61">India  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7275em;top:28.3069em;"><span class="stl_287 stl_08 stl_333">INR  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.3256em;top:28.3069em;"><span class="stl_287 stl_08 stl_204">100%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.0694em;top:28.3069em;"><span class="stl_287 stl_08 stl_25">x</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7744em;top:29.2282em;"><span class="stl_287 stl_08 stl_483" style="word-spacing:-0.0212em;">Ambu s.r.l.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.2387em;top:29.2282em;"><span class="stl_287 stl_08 stl_433">Italy  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7269em;top:29.2282em;"><span class="stl_287 stl_08 stl_45">EUR  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.325em;top:29.2282em;"><span class="stl_287 stl_08 stl_204">100%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.0687em;top:29.2282em;"><span class="stl_287 stl_08 stl_25">x</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7737em;top:30.1494em;"><span class="stl_287 stl_08 stl_347" style="word-spacing:-0.0435em;">Ambu KK  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:17.2381em;top:30.1494em;"><span class="stl_287 stl_08 stl_45">Japan  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:21.7262em;top:30.1494em;"><span class="stl_287 stl_08 stl_161">JPY  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:24.3244em;top:30.1494em;"><span class="stl_287 stl_08 stl_204">100%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.0681em;top:30.1494em;"><span class="stl_287 stl_08 stl_25">x</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0863em;top:11.9899em;"><span class="stl_288 stl_11 stl_296">Activity  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.9994em;top:13.053em;"><span class="stl_288 stl_11 stl_432">Owner-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:57.4013em;top:13.7193em;"><span class="stl_288 stl_11 stl_347">Cur-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.9994em;top:13.7199em;"><span class="stl_288 stl_11 stl_297">ship  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.9712em;top:13.7271em;"><span class="stl_287 stl_08 stl_75">Produc-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.3862em;"><span class="stl_288 stl_11 stl_177">Company  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.9132em;top:14.3862em;"><span class="stl_288 stl_11 stl_512" style="word-spacing:-0.051em;">Reg. office  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:57.4013em;top:14.3862em;"><span class="stl_288 stl_11 stl_541" style="word-spacing:1.0393em;">rency interest</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.020em;top:14.3862em;"><span class="stl_287 stl_08 stl_284">Sales</span><sup style="top: -0.2086em;"><span class="stl_667 stl_08 stl_25" style="word-spacing:1.6499em;">1 </span></sup><span class="stl_287 stl_08 stl_75">tion</span><sup style="top: -0.2083em;"><span class="stl_667 stl_08 stl_25" style="word-spacing:2.1839em;">2 </span></sup><span class="stl_287 stl_08 stl_396" style="word-spacing:0.8257em;">R&amp;D Other  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4493em;top:16.3207em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0347em;">Ambu Sdn. Bhd.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.9137em;top:16.3207em;"><span class="stl_287 stl_08 stl_79">Malaysia  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:57.4018em;top:16.3207em;"><span class="stl_287 stl_08 stl_300">MYR  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.9999em;top:16.3207em;"><span class="stl_287 stl_08 stl_204">100%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9874em;top:16.3207em;"><span class="stl_287 stl_08 stl_25">x</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.2318em;top:16.3207em;"><span class="stl_287 stl_08 stl_25">x</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4487em;top:17.2419em;"><span class="stl_287 stl_08 stl_294" style="word-spacing:-0.0405em;">Ambu Sales &amp; Services Sdn. Bhd.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.9131em;top:17.2419em;"><span class="stl_287 stl_08 stl_79">Malaysia  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:57.4012em;top:17.2419em;"><span class="stl_287 stl_08 stl_300">MYR  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.9993em;top:17.2419em;"><span class="stl_287 stl_08 stl_204">100%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.7431em;top:17.2419em;"><span class="stl_287 stl_08 stl_25">x</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4481em;top:18.1632em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0336em;">Ambu Innovation Sdn. Bhd.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.9124em;top:18.1632em;"><span class="stl_287 stl_08 stl_79">Malaysia  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:57.4006em;top:18.1632em;"><span class="stl_287 stl_08 stl_300">MYR  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.9987em;top:18.1632em;"><span class="stl_287 stl_08 stl_204">100%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.2306em;top:18.1632em;"><span class="stl_287 stl_08 stl_25">x</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.4749em;top:18.1632em;"><span class="stl_287 stl_08 stl_25">x</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4481em;top:19.0844em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0372em;">Ambu Mexico Operations S. A. DE C. V.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.9124em;top:19.0844em;"><span class="stl_287 stl_08 stl_360">Mexico  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:57.4005em;top:19.0844em;"><span class="stl_287 stl_08 stl_309">MXN  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.9987em;top:19.0844em;"><span class="stl_287 stl_08 stl_204">100%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9862em;top:19.0844em;"><span class="stl_287 stl_08 stl_25">x</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4474em;top:20.0057em;"><span class="stl_287 stl_08 stl_31" style="word-spacing:-0.042em;">Ambu Mexico S. DE R.L. DE C.C.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.9118em;top:20.0057em;"><span class="stl_287 stl_08 stl_360">Mexico  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:57.3999em;top:20.0057em;"><span class="stl_287 stl_08 stl_309">MXN  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.998em;top:20.0057em;"><span class="stl_287 stl_08 stl_204">100%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.7418em;top:20.0057em;"><span class="stl_287 stl_08 stl_25">x</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4468em;top:20.9269em;"><span class="stl_287 stl_08 stl_832" style="word-spacing:0.0053em;">Ambu B.V.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.9112em;top:20.9269em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:1.021em;">Netherlands EUR  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.9974em;top:20.9269em;"><span class="stl_287 stl_08 stl_204">100%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.7412em;top:20.9269em;"><span class="stl_287 stl_08 stl_25">x</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4462em;top:21.8482em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0339em;">Ambu New Zealand Pty. Ltd.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.9105em;top:21.8482em;"><span class="stl_287 stl_08 stl_18" style="word-spacing:-0.0298em;">New Zealand</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:57.393em;top:21.8482em;"><span class="stl_287 stl_08 stl_76">NZD  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.9968em;top:21.8482em;"><span class="stl_287 stl_08 stl_204">100%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.7405em;top:21.8482em;"><span class="stl_287 stl_08 stl_25">x</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4455em;top:22.7694em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">Firma Ambu, S.L.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.9099em;top:22.7694em;"><span class="stl_287 stl_08 stl_127">Spain  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:57.398em;top:22.7694em;"><span class="stl_287 stl_08 stl_45">EUR  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.9961em;top:22.7694em;"><span class="stl_287 stl_08 stl_204">100%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.7399em;top:22.7694em;"><span class="stl_287 stl_08 stl_25">x</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4449em;top:23.6907em;"><span class="stl_287 stl_08 stl_76" style="word-spacing:-0.026em;">Ambu AG  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.9093em;top:23.6907em;"><span class="stl_287 stl_08 stl_361">Switzerland  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:57.3974em;top:23.6907em;"><span class="stl_287 stl_08 stl_433">CHF  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.9955em;top:23.6907em;"><span class="stl_287 stl_08 stl_204">100%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.7393em;top:23.6907em;"><span class="stl_287 stl_08 stl_25">x</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4443em;top:24.6119em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.034em;">Ambu Ltd.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.9086em;top:24.6119em;"><span class="stl_287 stl_08 stl_93">UK  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:57.3968em;top:24.6119em;"><span class="stl_287 stl_08 stl_322">GBP  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.9949em;top:24.6119em;"><span class="stl_287 stl_08 stl_204">100%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.7386em;top:24.6119em;"><span class="stl_287 stl_08 stl_25">x</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4436em;top:25.5332em;"><span class="stl_287 stl_08 stl_396" style="word-spacing:-0.0403em;">Ambu Inc.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.908em;top:25.5332em;"><span class="stl_287 stl_08 stl_267">USA  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:57.3961em;top:25.5332em;"><span class="stl_287 stl_08 stl_78">USD  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.9943em;top:25.5332em;"><span class="stl_287 stl_08 stl_204">100%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:63.738em;top:25.5332em;"><span class="stl_287 stl_08 stl_25">x</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.443em;top:26.4544em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0372em;">King Systems Holding Inc.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.9074em;top:26.4544em;"><span class="stl_287 stl_08 stl_267">USA  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:57.3955em;top:26.4544em;"><span class="stl_287 stl_08 stl_78">USD  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.9936em;top:26.4544em;"><span class="stl_287 stl_08 stl_204">100%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.4693em;top:26.4544em;"><span class="stl_287 stl_08 stl_25">x</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4424em;top:27.3757em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">King Systems Corp.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:52.9068em;top:27.3757em;"><span class="stl_287 stl_08 stl_267">USA  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:57.3949em;top:27.3757em;"><span class="stl_287 stl_08 stl_78">USD  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:59.993em;top:27.3757em;"><span class="stl_287 stl_08 stl_204">100%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9805em;top:27.3757em;"><span class="stl_287 stl_08 stl_25">x</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.2249em;top:27.3757em;"><span class="stl_287 stl_08 stl_25">x</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:28.8401em;"><span class="stl_390 stl_08 stl_25">1</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.9213em;top:28.8016em;"><span class="stl_391 stl_08 stl_631" style="word-spacing:-0.0531em;">Sales include promotional activities.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:29.4234em;"><span class="stl_390 stl_08 stl_25">2</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.9213em;top:29.3849em;"><span class="stl_391 stl_08 stl_633" style="word-spacing:-0.0494em;">Production includes the purchase of goods for resale and the coordination thereof.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2256em;"><span class="stl_418 stl_11 stl_160" style="word-spacing:-0.0317em;">5.6 Contingent liabilities and other contractual liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5343em;"><span class="stl_438 stl_92 stl_403" style="word-spacing:-0.0384em;">Contingent liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2887em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">Ambu is involved in pending litigations, claims, and investigations arising out of the normal conduct of its  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0387em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">business. Ambu’s ongoing operations and the use of Ambu’s products in hospitals and clinics, etc., involve  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.7887em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0385em;">the general risk of claims for damages and sanctions against Ambu. The risk is deemed to be customary for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.5387em;"><span class="stl_287 stl_08 stl_510" style="word-spacing:-0.0392em;">the industry.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.0387em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">Provisions for probable losses have been made for those matters Management has assessed as needed, but  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.7887em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">there are uncertainties associated with these estimates.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.2887em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0363em;">Ambu does not expect any pending litigations, claims, and investigations to have a material effect on the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.0387em;"><span class="stl_287 stl_08 stl_23" style="word-spacing:-0.0303em;">Group’s financial position.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.5343em;"><span class="stl_438 stl_92 stl_437" style="word-spacing:-0.0437em;">Other contractual liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.2887em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.0369em;">Ambu enters into various contractual agreements in the normal course of business, including purchase, sup-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.0387em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">ply, distribution, and service arrangements. These contracts may include customary indemnities, warranties,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.7887em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">and purchase obligations. Management has evaluated these obligations and does not expect any material  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.5387em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">financial impact beyond amounts already recognized in the financial statements.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2256em;"><span class="stl_418 stl_11 stl_160" style="word-spacing:-0.0317em;">5.6 Contingent liabilities and other contractual liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5343em;"><span class="stl_438 stl_92 stl_403" style="word-spacing:-0.0384em;">Contingent liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2887em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.035em;">Ambu is involved in pending litigations, claims, and investigations arising out of the normal conduct of its  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0387em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">business. Ambu’s ongoing operations and the use of Ambu’s products in hospitals and clinics, etc., involve  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.7887em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0385em;">the general risk of claims for damages and sanctions against Ambu. The risk is deemed to be customary for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.5387em;"><span class="stl_287 stl_08 stl_510" style="word-spacing:-0.0392em;">the industry.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.0387em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">Provisions for probable losses have been made for those matters Management has assessed as needed, but  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.7887em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">there are uncertainties associated with these estimates.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.2887em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0363em;">Ambu does not expect any pending litigations, claims, and investigations to have a material effect on the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.0387em;"><span class="stl_287 stl_08 stl_23" style="word-spacing:-0.0303em;">Group’s financial position.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.5343em;"><span class="stl_438 stl_92 stl_437" style="word-spacing:-0.0437em;">Other contractual liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:20.2887em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.0369em;">Ambu enters into various contractual agreements in the normal course of business, including purchase, sup-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.0387em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">ply, distribution, and service arrangements. These contracts may include customary indemnities, warranties,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.7887em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0343em;">and purchase obligations. Management has evaluated these obligations and does not expect any material  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.5387em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">financial impact beyond amounts already recognized in the financial statements.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:9.2258em;"><span class="stl_418 stl_11 stl_100" style="word-spacing:-0.0344em;">5.8 Adoption of the annual report and distribution of profit  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:10.5387em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">At the board meeting on 5 November 2025, the Board of Directors approved the Annual Report presented.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:11.2887em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">Subsequently, the Annual Report will be presented to the shareholders of Ambu A/S for adoption at the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0387em;"><span class="stl_287 stl_08 stl_169" style="word-spacing:-0.0335em;">annual general meeting on 3 December 2025, including this proposed distribution of the profits for the year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:13.5387em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0346em;">At the annual general meeting on 4 December 2024, the dividend proposed by the Board of Directors, for  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.2887em;"><span class="stl_287 stl_08 stl_163" style="word-spacing:-0.0287em;">2023/24, was approved. The dividends was paid in the first half of 2024/25.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.7474em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3569em;top:15.7399em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6163em;top:15.7399em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:17.2987em;"><span class="stl_287 stl_08 stl_100" style="word-spacing:-0.0345em;">Proposed dividend for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.0626em;top:17.2987em;"><span class="stl_287 stl_08 stl_884">110  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2607em;top:17.2987em;"><span class="stl_287 stl_08 stl_477">102  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:18.2199em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Transferred to distributable reserves  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.987em;top:18.2199em;"><span class="stl_287 stl_08 stl_284">499  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.262em;top:18.2199em;"><span class="stl_287 stl_08 stl_679">133  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:19.1337em;"><span class="stl_288 stl_11 stl_431" style="word-spacing:-0.043em;">Net profit for the year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.857em;top:19.1337em;"><span class="stl_288 stl_11 stl_76">609  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.1101em;top:19.1337em;"><span class="stl_288 stl_11 stl_33">235  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4495em;top:20.5743em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">Dividend per share in DKK  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8457em;top:20.5743em;"><span class="stl_287 stl_08 stl_276">0.41  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.052em;top:20.5743em;"><span class="stl_287 stl_08 stl_70">0.38  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4494em;top:21.4955em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0359em;">Dividend pay-out ratio, in % of net profit for year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8401em;top:21.4955em;"><span class="stl_287 stl_08 stl_316">18%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0495em;top:21.4955em;"><span class="stl_287 stl_08 stl_47">43%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:22.9574em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.7149em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0341em;">Proposed dividend is recognized as a liability at the time of adoption by the annual general meeting.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:22.9574em;"><span class="stl_288 stl_11 stl_164" style="word-spacing:-0.0351em;">§ Accounting policies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:23.7149em;"><span class="stl_287 stl_08 stl_155" style="word-spacing:-0.0341em;">Proposed dividend is recognized as a liability at the time of adoption by the annual general meeting.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.6983em;"><span class="stl_418 stl_11 stl_125" style="word-spacing:-0.0239em;">5.7 Subsequent events  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.0111em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">No material events have occurred in the period between the end of the financial year and the Board of Direc-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:26.7611em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">tors’ approval of the Annual Report.  </span></div> <div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:9.2256em;"><span class="stl_418 stl_11 stl_148" style="word-spacing:-0.03em;">5.9 Non-IFRS financial measures  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5387em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0349em;">The Group uses several financial metrics, which are not defined in IFRS accounting. These Alternative Per-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2887em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0324em;">formance Measures (APMs) are used in the daily management of the Group and in the communication with  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0387em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">external stakeholders. The non-IFRS financial measures are defined by Management and therefore may not  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.7887em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0333em;">be comparable with other companies' measures.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:14.2887em;"><span class="stl_287 stl_08 stl_163" style="word-spacing:-0.0286em;">The most relevant APMs are: 'Organic growth', 'Special items', 'EBITDA before special items', 'Net working  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.0387em;"><span class="stl_287 stl_08 stl_38" style="word-spacing:-0.0323em;">capital', 'Net-interest bearing debt', and 'Free cash flow before acquisitions of enterprises and technology'.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.5387em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0372em;">Below is a reconciliation of the different APMs used in the Annual Report. Key figure and ratio definitions are  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.2887em;"><span class="stl_287 stl_08 stl_87" style="word-spacing:-0.0058em;">found in note 5.10.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:18.7812em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0417em;">Income statement APMs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:19.7336em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:28.6877em;top:19.7261em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.947em;top:19.7261em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:21.2849em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0337em;">Reported revenue, preceding year  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.7764em;top:21.2849em;"><span class="stl_287 stl_08 stl_126">5,391  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.0539em;top:21.2849em;"><span class="stl_287 stl_08 stl_199">4,775  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:22.2061em;"><span class="stl_287 stl_08 stl_177" style="word-spacing:-0.0306em;">Reported revenue, current year, cf. note 2.2  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.7777em;top:22.2061em;"><span class="stl_287 stl_08 stl_108">6,037  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.0283em;top:22.2061em;"><span class="stl_287 stl_08 stl_126">5,391  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:23.1199em;"><span class="stl_288 stl_11 stl_415" style="word-spacing:-0.0502em;">Reported growth  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.4377em;top:23.1199em;"><span class="stl_288 stl_11 stl_384">12.0%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.7102em;top:23.1199em;"><span class="stl_288 stl_11 stl_647">12.9%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:24.5605em;"><span class="stl_287 stl_08 stl_542" style="word-spacing:-0.0497em;">Exchange rate effects  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.0927em;top:24.5605em;"><span class="stl_287 stl_08 stl_302">1.1%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.2502em;top:24.5605em;"><span class="stl_287 stl_08 stl_764">0.9%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:25.4743em;"><span class="stl_288 stl_11 stl_733" style="word-spacing:-0.0473em;">Organic growth  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.5345em;top:25.4743em;"><span class="stl_288 stl_11 stl_855">13.1%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.6945em;top:25.4743em;"><span class="stl_288 stl_11 stl_379">13.8%  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:26.9149em;"><span class="stl_287 stl_08 stl_294" style="word-spacing:-0.0407em;">Operating profit (EBIT)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3145em;top:26.9149em;"><span class="stl_287 stl_08 stl_43">784  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.6395em;top:26.9149em;"><span class="stl_287 stl_08 stl_302">311  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:27.8361em;"><span class="stl_287 stl_08 stl_475" style="word-spacing:-0.0395em;">Depreciations, amortizations, and impairment losses on non-current assets,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:28.5861em;"><span class="stl_287 stl_08 stl_177" style="word-spacing:-0.0306em;">cf. note 2.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.3383em;top:28.5861em;"><span class="stl_287 stl_08 stl_316">372  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5914em;top:28.5861em;"><span class="stl_287 stl_08 stl_261">696  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:29.4999em;"><span class="stl_288 stl_11 stl_146">EBITDA  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.6883em;top:29.4999em;"><span class="stl_288 stl_11 stl_65">1,156  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8608em;top:29.4999em;"><span class="stl_288 stl_11 stl_199">1,007  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7789em;top:30.9405em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0336em;">Special items cf. note 2.6  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2202em;top:30.9405em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.5508em;top:30.9405em;"><span class="stl_287 stl_08 stl_139">334  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:31.8618em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">of which depreciations, amortizations, and impairment, cf. note 2.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:31.2195em;top:31.8618em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.3527em;top:31.8618em;"><span class="stl_287 stl_08 stl_101">-332  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:32.7755em;"><span class="stl_288 stl_11 stl_285" style="word-spacing:-0.0388em;">EBITDA before special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:29.687em;top:32.7755em;"><span class="stl_288 stl_11 stl_65">1,156  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:33.8445em;top:32.7755em;"><span class="stl_288 stl_11 stl_190">1,009  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:34.2161em;"><span class="stl_287 stl_08 stl_297" style="word-spacing:-0.038em;">Depreciations, amortizations and impairment losses, not classified as special  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7777em;top:34.9661em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0338em;">items, cf. note 2.4  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1252em;top:34.9661em;"><span class="stl_287 stl_08 stl_57">-372  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.3364em;top:34.9661em;"><span class="stl_287 stl_08 stl_299">-364  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7783em;top:35.8799em;"><span class="stl_288 stl_11 stl_394" style="word-spacing:-0.0418em;">EBIT before special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:30.1989em;top:35.8799em;"><span class="stl_288 stl_11 stl_328">784  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.4227em;top:35.8799em;"><span class="stl_288 stl_11 stl_93">645  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4477em;top:10.4774em;"><span class="stl_288 stl_11 stl_294" style="word-spacing:-0.0407em;">Balance sheet and cash flow APMs  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:11.4306em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3569em;top:11.4231em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6163em;top:11.4231em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.9818em;"><span class="stl_287 stl_08 stl_145" style="word-spacing:-0.0272em;">Total current assets (IFRS)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.5319em;top:12.9818em;"><span class="stl_287 stl_08 stl_64">3,157  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.7007em;top:12.9818em;"><span class="stl_287 stl_08 stl_289">2,637  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:13.9031em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0386em;">Income tax receivable  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.1338em;top:13.9031em;"><span class="stl_287 stl_08 stl_31">-33  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.3651em;top:13.9031em;"><span class="stl_287 stl_08 stl_635">-40  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:14.8243em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0396em;">Derivative financial instruments  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8901em;top:14.8243em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.7607em;top:14.8243em;"><span class="stl_287 stl_08 stl_321">-3  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:15.7456em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0414em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.7457em;top:15.7456em;"><span class="stl_287 stl_08 stl_93">-866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0826em;top:15.7456em;"><span class="stl_287 stl_08 stl_353">-</span><span class="stl_287 stl_08 stl_388">6</span><span class="stl_287 stl_08 stl_326">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:16.6593em;"><span class="stl_288 stl_11 stl_245" style="word-spacing:-0.0402em;">Total current assets adjusted  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.2301em;top:16.6593em;"><span class="stl_288 stl_11 stl_139">2,258  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5682em;top:16.6593em;"><span class="stl_288 stl_11 stl_71">1,979  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:18.0999em;"><span class="stl_287 stl_08 stl_241" style="word-spacing:-0.0244em;">Total current liabilities (IFRS)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.4088em;top:18.0999em;"><span class="stl_287 stl_08 stl_931">-1,159  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5751em;top:18.0999em;"><span class="stl_287 stl_08 stl_465">-1,059  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:19.0212em;"><span class="stl_287 stl_08 stl_146">Provisions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.7207em;top:19.0212em;"><span class="stl_287 stl_08 stl_25">3</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.9726em;top:19.0212em;"><span class="stl_287 stl_08 stl_25">6</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:19.9424em;"><span class="stl_287 stl_08 stl_169" style="word-spacing:-0.0334em;">Lease liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3401em;top:19.9424em;"><span class="stl_287 stl_08 stl_321">80  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6188em;top:19.9424em;"><span class="stl_287 stl_08 stl_435">75  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:20.8637em;"><span class="stl_287 stl_08 stl_294" style="word-spacing:-0.0406em;">Income tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.3488em;top:20.8637em;"><span class="stl_287 stl_08 stl_138">56  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.6151em;top:20.8637em;"><span class="stl_287 stl_08 stl_58">49  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:21.7774em;"><span class="stl_288 stl_11 stl_409" style="word-spacing:-0.0399em;">Net working capital  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.2613em;top:21.7774em;"><span class="stl_288 stl_11 stl_571">1,238  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:69.5226em;top:21.7774em;"><span class="stl_288 stl_11 stl_252">1,050  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:24.0293em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3563em;top:24.0218em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6157em;top:24.0218em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:25.5806em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0414em;">Cash and cash equivalents  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.7457em;top:25.5806em;"><span class="stl_287 stl_08 stl_93">-866  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0826em;top:25.5806em;"><span class="stl_287 stl_08 stl_353">-</span><span class="stl_287 stl_08 stl_388">6</span><span class="stl_287 stl_08 stl_326">15  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:26.5018em;"><span class="stl_287 stl_08 stl_169" style="word-spacing:-0.0334em;">Lease liabilities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9819em;top:26.5018em;"><span class="stl_287 stl_08 stl_188">542  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2282em;top:26.5018em;"><span class="stl_287 stl_08 stl_112">558  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:27.423em;"><span class="stl_287 stl_08 stl_245" style="word-spacing:-0.0403em;">Credit institutions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.7207em;top:27.423em;"><span class="stl_287 stl_08 stl_25">5</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:71.1413em;top:27.423em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:28.3368em;"><span class="stl_288 stl_11 stl_31" style="word-spacing:-0.042em;">Net interest-bearing debt  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.6807em;top:28.3368em;"><span class="stl_288 stl_11 stl_865">-319  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.3151em;top:28.3368em;"><span class="stl_288 stl_11 stl_579">-57  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:30.5887em;"><span class="stl_287 stl_08 stl_116">(DKKm)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:64.3557em;top:30.5812em;"><span class="stl_288 stl_11 stl_138">2024/25  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.6151em;top:30.5812em;"><span class="stl_288 stl_11 stl_419">2023/24  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:32.1399em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0386em;">Cash flow from operating activities (IFRS)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.9988em;top:32.1399em;"><span class="stl_287 stl_08 stl_274">791  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.2826em;top:32.1399em;"><span class="stl_287 stl_08 stl_345">813  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:33.0612em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">Cash flow from investing activities (IFRS)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.7526em;top:33.0612em;"><span class="stl_287 stl_08 stl_347">-384  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.0532em;top:33.0612em;"><span class="stl_287 stl_08 stl_348">-289  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4482em;top:33.9824em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">of which are acquisitions of technology  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:66.8894em;top:33.9824em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:71.1413em;top:33.9824em;"><span class="stl_287 stl_08 stl_25">-</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4476em;top:34.8962em;"><span class="stl_288 stl_11 stl_292" style="word-spacing:-0.0387em;">Free cash flow  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:65.8651em;top:34.8962em;"><span class="stl_288 stl_11 stl_43">407  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.117em;top:34.8962em;"><span class="stl_288 stl_11 stl_43">524  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:10.5387em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0339em;">The key figures and ratios used in the Annual Report are defined as shown below. 'APM' (Alternative  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:11.2887em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0338em;">Performance Measure) / 'IFRS' indicates whether the metric is defined by IFRS or not. Reference is made to  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.0387em;"><span class="stl_287 stl_08 stl_26" style="word-spacing:-0.0282em;">note 5.9 for a reconciliation of APMs to IFRS.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.1957em;top:13.4899em;"><span class="stl_288 stl_11 stl_344" style="word-spacing:0.7396em;">APM IFRS  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.0412em;"><span class="stl_288 stl_11 stl_97" style="word-spacing:-0.0422em;">Income statement  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:15.9699em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">Gross margin, %  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3545em;top:15.9699em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">Gross profit in % of revenue.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8776em;top:15.9699em;"><span class="stl_287 stl_08 stl_25">X</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:17.1274em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0367em;">Operating expenditures (OPEX)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3551em;top:17.1274em;"><span class="stl_287 stl_08 stl_285" style="word-spacing:-0.0387em;">Selling and distribution costs, development costs,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.752em;top:17.1274em;"><span class="stl_287 stl_08 stl_25">X</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3551em;top:17.8774em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">management and administrative expenses, as well as  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3551em;top:18.6274em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0366em;">other operating income and expenses.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:19.7849em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">EBITDA before special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3582em;top:19.7849em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Operating profit before special items, depreciation,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.752em;top:19.7849em;"><span class="stl_287 stl_08 stl_25">X</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3551em;top:20.5349em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0386em;">amortization and impairment losses.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:21.6924em;"><span class="stl_287 stl_08 stl_47" style="word-spacing:-0.0401em;">Operating profit (EBIT) before  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3551em;top:21.6924em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0351em;">Profit for the year before special items, net financials  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.752em;top:21.6924em;"><span class="stl_287 stl_08 stl_25">X</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:22.4424em;"><span class="stl_287 stl_08 stl_372" style="word-spacing:-0.0366em;">special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3551em;top:22.4424em;"><span class="stl_287 stl_08 stl_347" style="word-spacing:-0.0435em;">and tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:23.5999em;"><span class="stl_287 stl_08 stl_412" style="word-spacing:-0.0408em;">Operating profit (EBIT)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3551em;top:23.5999em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0356em;">Profit for the year before net financials and tax  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.752em;top:23.5999em;"><span class="stl_287 stl_08 stl_25">X</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:24.7574em;"><span class="stl_287 stl_08 stl_241" style="word-spacing:-0.0244em;">Special items (s.i.)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3551em;top:24.7574em;"><span class="stl_287 stl_08 stl_475" style="word-spacing:-0.0395em;">Special items comprise costs that cannot be attributed  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.752em;top:24.7574em;"><span class="stl_287 stl_08 stl_25">X</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3551em;top:25.5074em;"><span class="stl_287 stl_08 stl_178" style="word-spacing:-0.0379em;">directly to the Group's ordinary activities and are non-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3551em;top:26.2574em;"><span class="stl_287 stl_08 stl_38" style="word-spacing:-0.0321em;">recurring in nature.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:27.9193em;"><span class="stl_288 stl_11 stl_285" style="word-spacing:-0.0388em;">Balance sheet  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:28.848em;"><span class="stl_287 stl_08 stl_47" style="word-spacing:-0.04em;">Net working capital  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3551em;top:28.848em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">Inventories, trade receivables, other receivables, and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.752em;top:28.848em;"><span class="stl_287 stl_08 stl_25">X</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3551em;top:29.598em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0373em;">prepayments, less trade payables and other payables.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:30.7555em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0363em;">Interest-bearing debt  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3551em;top:30.7555em;"><span class="stl_287 stl_08 stl_49" style="word-spacing:-0.0336em;">Debt on which interest is paid, including bank debt,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.752em;top:30.7555em;"><span class="stl_287 stl_08 stl_25">X</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3551em;top:31.5055em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0373em;">debt to credit institutions, lease debt, and corporate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3551em;top:32.2555em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">bonds, but not trade payables.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:33.413em;"><span class="stl_287 stl_08 stl_146" style="word-spacing:-0.0321em;">Net interest-bearing debt (NIBD)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3507em;top:33.413em;"><span class="stl_287 stl_08 stl_285" style="word-spacing:-0.0387em;">Interest-bearing debt, less cash, and cash equivalents.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.7376em;top:33.413em;"><span class="stl_287 stl_08 stl_25">X</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:34.5705em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0386em;">Invested capital  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3551em;top:34.5705em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0363em;">Equity and net interest-bearing debt.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.752em;top:34.5705em;"><span class="stl_287 stl_08 stl_25">X</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:67.865em;top:13.4897em;"><span class="stl_288 stl_11 stl_344" style="word-spacing:0.7396em;">APM IFRS  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.0409em;"><span class="stl_288 stl_11 stl_350" style="word-spacing:-0.0457em;">Cash flows  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:15.9697em;"><span class="stl_287 stl_08 stl_528" style="word-spacing:-0.0444em;">Cash flow from operating activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0238em;top:15.9697em;z-index:1548;"><span class="stl_287 stl_08 stl_347" style="word-spacing:-0.0434em;">Cash flow from operating activities, as defined in IAS </span><span class="stl_287 stl_08 stl_121">7</span><span class="stl_287 stl_08 stl_121">.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5469em;top:15.9697em;"><span class="stl_287 stl_08 stl_25">X</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4494em;top:17.1272em;"><span class="stl_287 stl_08 stl_31" style="word-spacing:-0.042em;">Cash flow from investing activities  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0244em;top:17.1272em;z-index:1691;"><span class="stl_287 stl_08 stl_344" style="word-spacing:-0.0424em;">Cash flow from investing activities, as defined in IAS </span><span class="stl_287 stl_08 stl_121">7</span><span class="stl_287 stl_08 stl_121">,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.4213em;top:17.1272em;"><span class="stl_287 stl_08 stl_25">X</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4494em;top:17.8772em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0367em;">before acquisitions of enterprises  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0244em;top:17.8772em;"><span class="stl_287 stl_08 stl_159" style="word-spacing:-0.0348em;">excluding cash flow for the acquisition of technologies  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4494em;top:18.6272em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">and technology  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0244em;top:18.6272em;"><span class="stl_287 stl_08 stl_409" style="word-spacing:-0.0398em;">and enterprises.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4494em;top:19.7847em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">Free cash flow before acquisitions  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0244em;top:19.7847em;"><span class="stl_287 stl_08 stl_299" style="word-spacing:-0.0413em;">The sum of cash flow from operating activities and cash  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.4213em;top:19.7847em;"><span class="stl_287 stl_08 stl_25">X</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4494em;top:20.5347em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0385em;">of enterprises and technology  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0244em;top:20.5347em;"><span class="stl_287 stl_08 stl_475" style="word-spacing:-0.0395em;">flow from investing activities before acquisitions of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0244em;top:21.2847em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0351em;">enterprises and technology.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4494em;top:22.4422em;"><span class="stl_287 stl_08 stl_291" style="word-spacing:-0.0358em;">Acquisitions of enterprises and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0244em;top:22.4422em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0386em;">Cash flow from the acquisition of enterprises and tech-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.4213em;top:22.4422em;"><span class="stl_287 stl_08 stl_25">X</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4494em;top:23.1922em;"><span class="stl_287 stl_08 stl_297">technology  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0244em;top:23.1922em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0327em;">nologies, including payment to the seller and payment  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0244em;top:23.9422em;"><span class="stl_287 stl_08 stl_207" style="word-spacing:-0.0412em;">of earn-outs less cash in acquired enterprises.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.1957em;top:10.5317em;"><span class="stl_288 stl_11 stl_344" style="word-spacing:0.7396em;">APM IFRS  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:12.083em;"><span class="stl_288 stl_11 stl_409" style="word-spacing:-0.0397em;">Key figures and ratios  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:13.0117em;"><span class="stl_287 stl_08 stl_47" style="word-spacing:-0.04em;">Organic growth  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3545em;top:13.0117em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0345em;">Development in revenue, adjusted for fluctuations in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.7514em;top:13.0117em;"><span class="stl_287 stl_08 stl_25">X</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3545em;top:13.7617em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">foreign exchange rates and the effect of acquisitions,  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3545em;top:14.5117em;"><span class="stl_287 stl_08 stl_18" style="word-spacing:-0.0297em;">in the past 12 months in % of revenue in the period of  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3545em;top:15.2617em;"><span class="stl_287 stl_08 stl_291">comparison.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:16.4192em;"><span class="stl_287 stl_08 stl_375" style="word-spacing:-0.0429em;">OPEX ratio  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3545em;top:16.4192em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0351em;">Operating expenses in % of revenue.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.7514em;top:16.4192em;"><span class="stl_287 stl_08 stl_25">X</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7795em;top:17.5767em;"><span class="stl_287 stl_08 stl_319" style="word-spacing:-0.0489em;">Effective tax rate  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3545em;top:17.5767em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0328em;">Tax for the year relative to the profit before tax.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8776em;top:17.5767em;"><span class="stl_287 stl_08 stl_25">X</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:18.7342em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0347em;">EBITDA margin before special items</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.780em;top:18.7342em;"><span class="stl_287 stl_08 stl_146" style="word-spacing:-0.0321em;">EBITDA before special items in % of revenue.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.752em;top:18.7342em;"><span class="stl_287 stl_08 stl_25">X</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:19.8917em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0333em;">EBIT margin  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3551em;top:19.8917em;"><span class="stl_287 stl_08 stl_75" style="word-spacing:-0.0293em;">EBIT in % of revenue.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.752em;top:19.8917em;"><span class="stl_287 stl_08 stl_25">X</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:21.0492em;"><span class="stl_287 stl_08 stl_360" style="word-spacing:-0.0364em;">EBIT margin before special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3551em;top:21.0492em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0331em;">EBIT before special items in % of revenue.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.752em;top:21.0492em;"><span class="stl_287 stl_08 stl_25">X</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7801em;top:22.2067em;"><span class="stl_287 stl_08 stl_207" style="word-spacing:-0.0413em;">Return on equity  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3551em;top:22.2067em;"><span class="stl_287 stl_08 stl_60" style="word-spacing:-0.0333em;">Net profit/loss for the year for a rolling 12-month period  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8782em;top:22.2067em;"><span class="stl_287 stl_08 stl_25">X</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3551em;top:22.9567em;"><span class="stl_287 stl_08 stl_147" style="word-spacing:-0.0325em;">in relation to average equity.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7807em;top:24.1142em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.0359em;">NIBD/EBITDA before special items  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3582em;top:24.1142em;"><span class="stl_287 stl_08 stl_403" style="word-spacing:-0.0384em;">Net interest-bearing debt/EBITDA before special items.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.7526em;top:24.1142em;"><span class="stl_287 stl_08 stl_25">X</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7807em;top:25.2717em;"><span class="stl_287 stl_08 stl_344" style="word-spacing:-0.0424em;">Equity ratio  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3557em;top:25.2717em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0327em;">Equity’s share of total assets at end of year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:34.8789em;top:25.2717em;"><span class="stl_287 stl_08 stl_25">X</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7814em;top:27.3505em;"><span class="stl_287 stl_08 stl_163" style="word-spacing:-0.0285em;">CFFI, % of revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3564em;top:27.3505em;"><span class="stl_287 stl_08 stl_207" style="word-spacing:-0.0411em;">Cash flow from investing activities, including assets  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.7532em;top:27.3505em;"><span class="stl_287 stl_08 stl_25">X</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3564em;top:28.1005em;"><span class="stl_287 stl_08 stl_150" style="word-spacing:-0.0296em;">disposed of, in % of revenue.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7814em;top:29.258em;"><span class="stl_287 stl_08 stl_292" style="word-spacing:-0.0385em;">Cash conversion  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3564em;top:29.258em;"><span class="stl_287 stl_08 stl_298" style="word-spacing:-0.0374em;">Cash conversion is equal to free cash flow before acqui-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.7532em;top:29.258em;"><span class="stl_287 stl_08 stl_25">X</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3564em;top:30.008em;"><span class="stl_287 stl_08 stl_74" style="word-spacing:-0.0365em;">sitions, in % of EBITDA before special items.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7814em;top:31.1655em;"><span class="stl_287 stl_08 stl_139" style="word-spacing:-0.0351em;">Net working capital, % of revenue  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3507em;top:31.1655em;"><span class="stl_287 stl_08 stl_293" style="word-spacing:-0.0362em;">Inventories, trade receivables, other receivables, and  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.7532em;top:31.1655em;"><span class="stl_287 stl_08 stl_25">X</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3564em;top:31.9155em;"><span class="stl_287 stl_08 stl_39" style="word-spacing:-0.0368em;">prepayments, less trade payables and other payables in  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3564em;top:32.6655em;"><span class="stl_287 stl_08 stl_165" style="word-spacing:-0.0265em;">% of revenue.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:3.7814em;top:33.823em;"><span class="stl_287 stl_08 stl_395" style="word-spacing:-0.0345em;">Return on invested capital (ROIC)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3489em;top:33.823em;"><span class="stl_287 stl_08 stl_66" style="word-spacing:-0.0289em;">EBIT b.s.i. for a rolling 12-month period, less the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:32.7532em;top:33.823em;"><span class="stl_287 stl_08 stl_25">X</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3564em;top:34.573em;"><span class="stl_287 stl_08 stl_164" style="word-spacing:-0.0352em;">Group’s expected long-term tax rate, relative to the  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3564em;top:35.323em;"><span class="stl_287 stl_08 stl_149" style="word-spacing:-0.0338em;">average equity, plus the average net interest-bearing  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:15.3564em;top:36.073em;"><span class="stl_287 stl_08 stl_529">debt.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:67.865em;top:10.5317em;"><span class="stl_288 stl_11 stl_344" style="word-spacing:0.7396em;">APM IFRS  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:12.0724em;"><span class="stl_288 stl_11 stl_350" style="word-spacing:-0.0458em;">Share-related ratios  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4488em;top:13.0011em;"><span class="stl_287 stl_08 stl_40" style="word-spacing:-0.0279em;">Earnings per share (EPS)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0238em;top:13.0011em;"><span class="stl_287 stl_08 stl_66" style="word-spacing:-0.0289em;">Earnings per share for the year, calculated in accor-  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5469em;top:13.0011em;"><span class="stl_287 stl_08 stl_25">X</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0238em;top:13.7511em;"><span class="stl_287 stl_08 stl_133" style="word-spacing:-0.0382em;">dance with IAS 33.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4494em;top:14.9086em;"><span class="stl_287 stl_08 stl_35" style="word-spacing:-0.0327em;">Diluted earnings per share (EPS-D)  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0225em;top:14.9086em;"><span class="stl_287 stl_08 stl_343" style="word-spacing:-0.0326em;">Diluted earnings per share, calculated in accordance  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5475em;top:14.9086em;"><span class="stl_287 stl_08 stl_25">X</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0244em;top:15.6586em;"><span class="stl_287 stl_08 stl_375" style="word-spacing:-0.0429em;">with IAS 33.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.45em;top:16.8161em;"><span class="stl_287 stl_08 stl_294" style="word-spacing:-0.0407em;">Cash flow per share  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.025em;top:16.8161em;"><span class="stl_287 stl_08 stl_400" style="word-spacing:-0.0395em;">Cash flow from operating activities, relative to number  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.4219em;top:16.8161em;"><span class="stl_287 stl_08 stl_25">X</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.025em;top:17.5661em;"><span class="stl_287 stl_08 stl_125" style="word-spacing:-0.0239em;">of shares at end of year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.45em;top:18.7236em;"><span class="stl_287 stl_08 stl_161" style="word-spacing:-0.036em;">Equity value per share  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.025em;top:18.7236em;"><span class="stl_287 stl_08 stl_40" style="word-spacing:-0.0277em;">Total equity relative to number of shares at end of year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.4138em;top:18.7236em;"><span class="stl_287 stl_08 stl_25">X</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.45em;top:19.8811em;"><span class="stl_287 stl_08 stl_144" style="word-spacing:-0.0357em;">Dividend per share  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.025em;top:19.8811em;"><span class="stl_287 stl_08 stl_150" style="word-spacing:-0.0295em;">Dividend relative to number of shares at end of year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5481em;top:19.8811em;"><span class="stl_287 stl_08 stl_25">X</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4506em;top:21.0386em;"><span class="stl_287 stl_08 stl_361" style="word-spacing:-0.037em;">Dividend pay-out ratio, %  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0256em;top:21.0386em;"><span class="stl_287 stl_08 stl_271" style="word-spacing:-0.0371em;">Dividend as a percentage of net profit/loss for the year.  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:70.5487em;top:21.0386em;"><span class="stl_287 stl_08 stl_25">X</span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:39.4512em;top:22.1961em;"><span class="stl_287 stl_08 stl_138" style="word-spacing:-0.022em;">P/E ratio  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:51.0263em;top:22.1961em;"><span class="stl_287 stl_08 stl_150" style="word-spacing:-0.0295em;">Market price relative to earnings per share (EPS).  </span></div><div xmlns="http://www.w3.org/1999/xhtml" class="stl_01" style="left:68.4175em;top:22.1961em;"><span class="stl_287 stl_08 stl_25">X</span></div>