45739910 2017-01-01 2017-12-31 45739910 2016-01-01 2016-12-31 45739910 2017-01-01 2017-12-31 fsa:RetainedEarningsMember 45739910 2016-01-01 2016-12-31 fsa:RetainedEarningsMember 45739910 2017-12-31 45739910 2016-12-31 45739910 2017-01-01 2017-12-31 cmn:PreviousYearMember 45739910 2017-01-01 2017-12-31 cmn:TwoYearsAgoMember 45739910 2017-01-01 2017-12-31 cmn:ThreeYearsAgoMember 45739910 2017-01-01 2017-12-31 cmn:FourYearsAgoMember 45739910 2017-01-01 2017-12-31 0 45739910 2017-01-01 2017-12-31 cmn:PreviousYearMember 1 45739910 2017-01-01 2017-12-31 cmn:TwoYearsAgoMember 2 45739910 2017-01-01 2017-12-31 cmn:ThreeYearsAgoMember 3 45739910 2017-01-01 2017-12-31 cmn:FourYearsAgoMember 4 45739910 2017-01-01 2017-12-31 5 45739910 2017-01-01 2017-12-31 cmn:PreviousYearMember 6 45739910 2017-01-01 2017-12-31 cmn:TwoYearsAgoMember 7 45739910 2017-01-01 2017-12-31 cmn:ThreeYearsAgoMember 8 45739910 2017-01-01 2017-12-31 cmn:FourYearsAgoMember 9 45739910 2017-12-31 cmn:PreviousYearMember 45739910 2017-12-31 cmn:TwoYearsAgoMember 45739910 2017-12-31 cmn:ThreeYearsAgoMember 45739910 2017-12-31 cmn:FourYearsAgoMember 45739910 2017-01-01 2017-12-31 0 iso4217:DKK xbrli:pure Regnskabsklasse B 2941000 2941000 0 -10000 2931000 -3682000 -751000 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ></td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>External costs</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The Company has no employees. No remuneration was paid to the Board of Directors or Management neither for</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >2017 nor 2016.</td></tr><tr><td colspan="1"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Other financial income</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Included in other financial income is financial income from affiliated companies DKK 0 (2016: DKK 363).</td></tr><tr><td colspan="1"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="10" align="left" valign="middle" ><b>Tax</b></td></tr><tr><td width="100%" colspan="10" align="left" valign="middle" >Amounts in DKK 1,000</td></tr><tr><td width="28%" ></td><td width="13%" ></td><td width="1%" ></td><td width="13%" ></td><td width="1%" ></td><td width="13%" ></td><td width="1%" ></td><td width="13%" align="right" valign="middle" ><b>2017</b></td><td width="1%" ></td><td width="16%" align="right" valign="middle" ><b>2016</b></td></tr><tr><td colspan="10"></td></tr><tr><td width="70%" colspan="7" align="left" valign="middle" >Tax on profit</td><td width="13%" align="right" valign="middle" >8</td><td width="1%" ></td><td width="16%" align="right" valign="middle" >-520</td></tr><tr><td width="70%" colspan="7" align="left" valign="middle" >Adjustment to prior years</td><td width="13%" align="right" valign="middle" >-3.230</td><td width="1%" ></td><td width="16%" align="right" valign="middle" >766</td></tr><tr><td width="70%" colspan="7" align="left" valign="middle" >Change in deferred. tax.</td><td width="13%" align="right" valign="middle" >-460</td><td width="1%" ></td><td width="16%" align="right" valign="middle" >-887</td></tr><tr><td width="28%" ></td><td width="13%" ></td><td width="1%" ></td><td width="13%" ></td><td width="1%" ></td><td width="13%" ></td><td width="1%" ></td><td width="13%" align="right" valign="middle" ><b>-3.682</b></td><td width="1%" ></td><td width="16%" align="right" valign="middle" ><b>-641</b></td></tr><tr><td colspan="10"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="10" align="left" valign="middle" ><b>Deferred tax.</b></td></tr><tr><td width="100%" colspan="10" align="left" valign="middle" >Amounts in DKK 1,000</td></tr><tr><td width="100%" colspan="10" align="left" valign="middle" >Deferred tax asset is related to fixed assets and carried forward losses.</td></tr><tr><td width="28%" ></td><td width="13%" ></td><td width="1%" ></td><td width="13%" ></td><td width="1%" ></td><td width="13%" ></td><td width="1%" ></td><td width="13%" align="right" valign="middle" ><b>2017</b></td><td width="1%" ></td><td width="16%" align="right" valign="middle" ><b>2016</b></td></tr><tr><td colspan="10"></td></tr><tr><td width="70%" colspan="7" align="left" valign="middle" >Deferred tax 1 January</td><td width="13%" align="right" valign="middle" >460</td><td width="1%" ></td><td width="16%" align="right" valign="middle" >1.347</td></tr><tr><td width="70%" colspan="7" align="left" valign="middle" >Change for the year</td><td width="13%" align="right" valign="middle" >-460</td><td width="1%" ></td><td width="16%" align="right" valign="middle" >-887</td></tr><tr><td width="70%" colspan="7" align="left" valign="middle" ><b>Deferred tax 31 December</b></td><td width="13%" align="right" valign="middle" ><b>0</b></td><td width="1%" ></td><td width="16%" align="right" valign="middle" ><b>460</b></td></tr><tr><td colspan="10"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="10" align="left" valign="middle" ><b>Equity</b></td></tr><tr><td width="100%" colspan="10" align="left" valign="middle" >Amounts in DKK 1,000</td></tr><tr><td colspan="10"></td></tr><tr><td width="28%" ></td><td width="13%" ></td><td width="1%" ></td><td width="13%" ></td><td width="1%" ></td><td width="13%" colspan="1" align="right" valign="middle" ><b>Share capital</b></td><td width="1%" colspan="1" align="right" valign="middle" ><b></b></td><td width="13%" colspan="1" align="right" valign="middle" ><b>Retained earnings.</b></td><td width="1%" colspan="1" align="right" valign="middle" ><b></b></td><td width="16%" colspan="1" align="right" valign="middle" ><b>Total equity</b></td></tr><tr><td width="56%" colspan="5" align="left" valign="middle" >.1 January 2017</td><td width="13%" align="right" valign="middle" >153.000</td><td width="1%" ></td><td width="13%" align="right" valign="middle" >11.929</td><td width="1%" ></td><td width="16%" align="right" valign="middle" >164.929</td></tr><tr><td width="56%" colspan="5" align="left" valign="middle" >Profit/loss for the year</td><td width="13%" align="right" valign="middle" >0</td><td width="1%" ></td><td width="13%" align="right" valign="middle" >-751</td><td width="1%" ></td><td width="16%" align="right" valign="middle" >-751</td></tr><tr><td width="56%" colspan="5" align="left" valign="middle" ><b>Equity 31 December 2017</b></td><td width="13%" align="right" valign="middle" ><b>153.000</b></td><td width="1%" ></td><td width="13%" align="right" valign="middle" ><b>11.178</b></td><td width="1%" ></td><td width="16%" align="right" valign="middle" ><b>164.178</b></td></tr><tr><td colspan="10"></td></tr><tr><td width="28%" ></td><td width="13%" align="right" valign="middle" ><b>2017</b></td><td width="1%" ></td><td width="13%" align="right" valign="middle" ><b>2016</b></td><td width="1%" ></td><td width="13%" align="right" valign="middle" ><b>2015</b></td><td width="1%" ></td><td width="13%" align="right" valign="middle" ><b>2014</b></td><td width="1%" ></td><td width="16%" align="right" valign="middle" ><b>2013</b></td></tr><tr><td width="28%" colspan="1" align="left" valign="middle" >Share capital 1 January</td><td width="13%" align="right" valign="middle" >153.000</td><td width="1%" ></td><td width="13%" align="right" valign="middle" >153.000</td><td width="1%" ></td><td width="13%" align="right" valign="middle" >153.000</td><td width="1%" ></td><td width="13%" align="right" valign="middle" >153.000</td><td width="1%" ></td><td width="16%" align="right" valign="middle" >153.000</td></tr><tr><td width="28%" colspan="1" align="left" valign="middle" ><b>Share capital 31 December</b></td><td width="13%" align="right" valign="middle" ><b>153.000</b></td><td width="1%" ></td><td width="13%" align="right" valign="middle" ><b>153.000</b></td><td width="1%" ></td><td width="13%" align="right" valign="middle" ><b>153.000</b></td><td width="1%" ></td><td width="13%" align="right" valign="middle" ><b>153.000</b></td><td width="1%" ></td><td width="16%" align="right" valign="middle" ><b>153.000</b></td></tr><tr><td colspan="10"></td></tr><tr><td width="42%" colspan="3" align="left" valign="middle" >The share capital is divided into</td><td width="13%" colspan="1" align="right" valign="middle" >DKK 1,000</td><td width="1%" colspan="1" align="right" valign="middle" ></td><td width="13%" colspan="1" align="right" valign="middle" >DKK 1,000</td><td width="1%" colspan="1" align="right" valign="middle" ></td><td width="13%" colspan="1" align="right" valign="middle" ></td><td width="1%" colspan="1" align="right" valign="middle" ></td><td width="16%" colspan="1" align="right" valign="middle" ></td></tr><tr><td width="42%" colspan="3" align="left" valign="middle" >.80 shares of</td><td width="13%" align="right" valign="middle" >1.000</td><td width="1%" ></td><td width="13%" align="right" valign="middle" >80.000</td><td width="1%" ></td><td width="13%" ></td><td width="1%" ></td><td width="16%" ></td></tr><tr><td width="42%" colspan="3" align="left" valign="middle" >.7 shares of</td><td width="13%" align="right" valign="middle" >500</td><td width="1%" ></td><td width="13%" align="right" valign="middle" >3.500</td><td width="1%" ></td><td width="13%" ></td><td width="1%" ></td><td width="16%" ></td></tr><tr><td width="42%" colspan="3" align="left" valign="middle" >.1,180 shares of</td><td width="13%" align="right" valign="middle" >50</td><td width="1%" ></td><td width="13%" align="right" valign="middle" >59.000</td><td width="1%" ></td><td width="13%" ></td><td width="1%" ></td><td width="16%" ></td></tr><tr><td width="42%" colspan="3" align="left" valign="middle" >.325 shares of</td><td width="13%" align="right" valign="middle" >20</td><td width="1%" ></td><td width="13%" align="right" valign="middle" >6.500</td><td width="1%" ></td><td width="13%" ></td><td width="1%" ></td><td width="16%" ></td></tr><tr><td width="42%" colspan="3" align="left" valign="middle" >.400 shares of</td><td width="13%" align="right" valign="middle" >5</td><td width="1%" ></td><td width="13%" align="right" valign="middle" >2.000</td><td width="1%" ></td><td width="13%" ></td><td width="1%" ></td><td width="16%" ></td></tr><tr><td width="42%" colspan="3" align="left" valign="middle" >.500 shares of</td><td width="13%" align="right" valign="middle" >4</td><td width="1%" ></td><td width="13%" align="right" valign="middle" >2.000</td><td width="1%" ></td><td width="13%" ></td><td width="1%" ></td><td width="16%" ></td></tr><tr><td width="56%" colspan="5" align="left" valign="middle" ><b>Share capital</b></td><td width="13%" align="right" valign="middle" ><b>153.000</b></td><td width="1%" ></td><td width="13%" ></td><td width="1%" ></td><td width="16%" ></td></tr><tr><td colspan="10"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="10" align="left" valign="middle" ><b>Other payables</b></td></tr><tr><td width="28%" ></td><td width="13%" ></td><td width="1%" ></td><td width="13%" ></td><td width="1%" ></td><td width="13%" ></td><td width="1%" ></td><td width="13%" align="right" valign="middle" ><b>2017</b></td><td width="1%" ></td><td width="16%" align="right" valign="middle" ><b>2016</b></td></tr><tr><td colspan="10"></td></tr><tr><td width="70%" colspan="7" align="left" valign="middle" >Payables related to closing down of activities 1 January</td><td width="13%" align="right" valign="middle" >15.000</td><td width="1%" ></td><td width="16%" align="right" valign="middle" >15.000</td></tr><tr><td width="70%" colspan="7" align="left" valign="middle" >Payable reversed in income statement</td><td width="13%" align="right" valign="middle" >-3.000</td><td width="1%" ></td><td width="16%" align="right" valign="middle" >0</td></tr><tr><td width="70%" colspan="7" align="left" valign="middle" ><b>Other payables 31 December</b></td><td width="13%" align="right" valign="middle" ><b>12.000</b></td><td width="1%" ></td><td width="16%" align="right" valign="middle" ><b>15.000</b></td></tr><tr><td colspan="10"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Contingent liabilities and pledges</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The Company is jointly taxed with other Danish companies in the A.P. Møller Holding A/S Group. The Company is together with the other compaines in the joint taxation scheme jointly and severally liable for taxes payable, etc. in Denmark.</td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The Company has no other contingent liabilities or pledges.</td></tr><tr><td colspan="1"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Related parties</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >A.P. Møller - Mærsk A/S, Copenhagen owns 100% af of the shares in the Company.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Odense Staalskibsværft A/S is included in the consolidated accounts of A.P. Møller - Mærsk A/S, 50 Esplanaden, 1098 Copenhagen K.</td></tr><tr><td colspan="1"></td></tr></table> 0 2941000 -10000 0.000 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">- Shipbuilding activities terminated at the end of 2011.</td></tr></table><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">- The subsidiary Lindø Industripark A/S was sold in 2014.</td></tr></table> Odense Staalskibsværft A/S i likvidation 1098 Copenhagen K Esplanaden 50 Denmark 45739910 2017-01-01 2017-12-31 2018-05-22 Anne Pindborg <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Liquidator’s report</td></tr><tr><td colspan="1">Main activity</td></tr><tr><td colspan="1">After termination of the guarantee obligations and related tasks, the Company is without activity.</td></tr><tr><td colspan="1">Development in activities and financials</td></tr><tr><td colspan="1">The result for 2017 was according to expectations and considered satisfactorily.</td></tr><tr><td colspan="1">Subsequent events</td></tr><tr><td colspan="1">The commitments connected to the sale of the subsidiary Lindø Industripark A/S were settled in February 2018 at the estimated amount already recognised under liabilities. With all material outstandings cleared and no further activities planned, the shareholder has decided that the Company will be liquidated in 2018.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Diversity and inclusion</td></tr><tr><td colspan="1">Reference is made to the parent company A.P. Møller - Mærsk A/S’s policy for diversity at http://mrsk.co/174tNiF.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Corporate social responsibility</td></tr><tr><td colspan="1">Reference is made to the parent company A.P. Møller - Mærsk A/S’ sustainability report published at www.maersk.com.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Liquidator’s review</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Liquidator has today deliberated and approved the Annual Report for 2017 for Odense Staalskibsværft A/S.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">The Annual Report has been prepared in accordance with the Danish Financial Statements Act.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">The Annual Report is not audited as conditions for audit exemption are met.</td></tr></table><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Liquidator still considers that the conditions for audit exemption are fulfilled.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">In my opinion the financial statements give a true and fair view of the Company’s assets and liabilities, financial position at 31 December 2017 and of the results of the Company’s operations for the financial year 2017.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Furthermore, in my opinion, the Liquidator’s report includes a fair review of the development in the Company’s operations and financial conditions, the results for the year and financial position.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">I recommend the Annual Report for adoption at the Annual General Meeting.</td></tr></table> Copenhagen 2018-05-15 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">The Annual Report 2017 of Odense Staalskibsværft A/S has been prepared in accordance with the provisions of the Danish Financial Statements Act applicable for class B companies with selected provisions applicable to class C (large) companies.</td></tr></table> true <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Odense Staalskibsværft A/S has in accordance with the Danish Financial Statement Act § 86, 4 omitted cash flow statement, as the financial statements of Odense Staalskibsværft A/S are included in the consolidated accounts of the parent company A.P. Møller - Mærsk A/S, 50 Esplanaden, 1098 Copenhagen K.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Recognition and measurement in general</td></tr><tr><td colspan="1">Assets are recognised in the balance sheet when it is probable that future financial benefits will arrive at the Company and the value of the assets can be reliably measured. Liabilities are recognised in the balance sheet when it is probable that future financial benefits will leave the Company and the value of the liability can be reliably measured. Income is recognised in the income statement when earned. Furthermore, costs necessary for obtaining the income are recognised.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Foreign currency translation</td></tr><tr><td colspan="1">Receivables, payables and other monetary items in foreign currency are translated to the exchange rate on the balance sheet date. The difference between the exchange rate on the balance sheet date and the time of recognition of receivables or payables are included in financial items in the income statement.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Tax consists of actual company tax for the year, adjustment to previous years' tax and adjustment to deferred tax.</td></tr><tr><td colspan="1">The Company is jointly taxed with A.P. Møller Holding A/S’ Danish subsidiaries. The actual company tax is allocated between the participating companies based on their taxable income.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Deferred tax is recognised based on temporary differences between carrying value and tax value of assets and liabilities. Deferred tax assets are recognised at expected realisation value.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">.Receivables, payables and other monetary items in foreign currency are translated to the exchange rate on the balance sheet date. The difference between the exchange rate on the balance sheet date and the time of recognition of receivables or payables are included in financial items in the income statement.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Receivables are recognised at cost price corresponding to nominal value. Provisions for bad debt are made based on individual assessment.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Securities are recognised at fair value.</td></tr></table> Årsrapport 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Strandvejen 44 2900 Hellerup 2016-01-01 2016-12-31 Ingen bistand 2861000 2861000 363000 -11000 3213000 -641000 2572000 -751000 2572000 175737000 21000 0 175758000 420000 176178000 176178000 153000000 11178000 164178000 0 0 0 12000000 12000000 12000000 176178000 179606000 37000 460000 180103000 420000 180523000 180523000 153000000 11929000 164929000 9000 65000 520000 15000000 15594000 15594000 180523000 0 2861000 352000 2572000 0.000 0 923000 1456000 1044000 0.000 0 -2405000 951000 -2606000 0.000 0 -2556000 -829000 -5040000 1.000 Profit/loss after tax excluding affiliated companies -751000 Profit/loss after tax excluding affiliated companies 2572000 Profit/loss after tax excluding affiliated companies 1044000 Profit/loss after tax excluding affiliated companies -1217000 Profit/loss after tax excluding affiliated companies -3028000 Gain/loss on sale of affiliated companies 0 Gain/loss on sale of affiliated companies 0 Gain/loss on sale of affiliated companies 0 Gain/loss on sale of affiliated companies -1389000 Gain/loss on sale of affiliated companies -4404000 180523000 164929000 303770000 282357000 352412000 281313000 364260000 283919000 Alice Vestergaard Trolle