401940612020-01-012020-12-31401940612020-01-012020-12-311401940612020-01-012020-12-31RevPers2401940612020-01-012020-12-31fsa:RetainedEarningsMember401940612019-01-222019-12-31401940612019-01-222019-12-31fsa:RetainedEarningsMember401940612020-12-31401940612019-12-31xbrli:purexbrli:pureiso4217:DKKxbrli:sharesTo the day-to-day management of AEB Denmark ApS We have compiled the Financial Statements of AEB Denmark ApS for the financial year 1 January 2020 - 31 December 2020 based on the Company's bookkeeping and other information provided by it. The Financial Statements comprise a summary of significant accounting Policies, income statement, balance sheet and notes. , We have completed the engagement of Compiling Finansial Information in accordance with The International Standards on Related Services, ISRS 4410 (Revised), Compilation Engagements. We have applied our professional expertise to assist you in the preparation and presentation of these Financial Statements in accordance with the Danish Financial Statements Act. We have complied with relevant provisions in the Danish Act on Auditors and Audit Firms as well as Danish Auditors' (FSR) ethical rules for auditors, including principles of integrity, objectivity, professional competence and due care. , The Financial Statement and the accuracy and completeness of the information used to compile them are your responsibility. , Since a compilation engagement regarding financial information is not an assurance engagement, we are not required to verify the accuracy or completeness of the information you have given us in order for us to compile the Financial Statements. Accordingly, we do not express an audit or review opinion on whether the Financial Statements are prepared in accordance with the Danish Financial Accounts Act. Taastrup, 11 March 2021 Optimal Revision Godkendt Revisionsvirksomhed CVR-no. 19233383 Kim Hald Schütt Registreret revisor mne17145 2021-03-11Taastrup19233383mne17145Kim Hald Schütt Mario TomasoniOptimal Revision Godkendt RevisionsvirksomhedManagerAndre erklæringer uden sikkerhedtrue141752945139888651Regnskabsklasse B1000005000058921964027902Equity investments in group enterprises and associates Equity investments in group enterprises and associates are measured at cost. Dividends that exceed accumulated earnings of the group enterprise or the associate during the ownership period are treated as a reduction of the cost. If cost exceeds the net realisable value, a write-down to this lower value will be performed. Reporting Class The Annual Report of AEB Denmark ApS for 2020 has been presented in accordance with the provisions of the Danish Financial Statements Act applying to enterprises of reporting class B. The accounting policies applied remain unchanged from last year. Reporting currency The Annual Report is presented in Danish kroner. Grants regarding consolidation Grants provided to and received from the parent company are recognised in equity. General Information Basis of recognition and measurement The financial statement have been prepared under the historical cost princip. Income is recognised in the Income Statement as it is earned, including value adjustments of financial assets and liabilities that are measured at fair value or amortised cost. Moreover, all expenses incurred to achieve the earnings for the year are recognised in the Income Statement, including depreciation, amortisation, impairment losses and provisions as well as reversals due to changed accounting estimates of amounts that have previously been recognised in the Income Statement. Assets are recognised in the Balance Sheet when it is probable that future economic benefits attributable to the asset will accrue to the Company, and the value of the asset can be measured reliably. Liabilities are recognised in the Balance Sheet when it is probable that future economic benefits attributable to the asset will flow out of the Company, and the value of the liability can be measured reliably. At initial recognition, assets and liabilities are measured at cost. Subsequently, assets and liabilities are measured as described for each item below. Certain financial assets and liabilities are measured at amortised cost, which involves the recognition of a constant effective interest rate over the term. Amortised cost is calculated as original cost less repayments and with the addition/deduction of the accumulated amortisation of the difference between the cost and the nominal amount. This way, exchange losses and gains are allocated over the term. In connection with recognition and measurement, consideration is given to predictable losses and risks occurring prior to the presentation of the Annual Report, i.e. losses and risks which prove or disprove matters which exist at the balance sheet date. Income Statement Other external expenses Other external costs include costs for distribution, sales, advertising, administration, premises. loss of debitors, operating leasing costs etc. Financial income and expenses Financial income and expenses are recognised in the Income Statement based on the amounts that concern the financial year. Financial income and expenses include interest revenue and expenses, finance charges in respect offinance leases, realised and unrealised capital gains and losses regarding securities, accounts payable and transactions in foreign currencies, repayment on mortgage loans, and surcharges and allowances under the tax prepayment scheme. Dividends equity investments are recognised as income in the financial year in which the dividends are declared. Tax on net profit for the year Tax on net profit/loss for the year comprises current tax on expected taxable income of the year and the year's adjustment of deferred tax less the part of the tax of the year that relates to changes in equity. Current and deferred tax regarding changes in equity is recognised directly in equity. The Company and the Danish associates are taxed jointly. The Danish income tax is distributed between profit- and loss-making Danish enterprises in relation to their taxable income (full distribution). Balance Sheet Equity investments in group enterprises and associates Equity investments in group enterprises and associates are measured at cost. Dividends that exceed accumulated earnings of the group enterprise or the associate during the ownership period are treated as a reduction of the cost. If cost exceeds the net realisable value, a write-down to this lower value will be performed. Receivables Receivables are measured at amortised cost which usually corresponds to the nominal value. The value is reduced by write-downs for expected bad debts. Equity Equity comprises the working capital and a number of equity items that may be statutory or stipulated in tha articles of association. Current tax liabilities Current tax liabilities and current tax receivables are recognised in the Balance Sheet as calculated tax on the expected taxable income for the year, adjusted for tax on taxable income for previous years as well as for tax prepaid. The company are jointly and severally liable as the administration company for subsidiaries corporate taxes to the tax authorities. Liabilities Financial liabilities are recognised initially at the proceeds received net of transaction expenses incurred. In subsequent periods, financial liabilities are measured at amortised cost, corresponding to the capitalised value using the effective interest method, so that the difference between the proceeds and the nominal value is recognised in the Income Statement over the life of the financial instrument. Mortgage debt is accordingly measured at amortised cost, corresponding to the outstanding balance in case of cash loans. In case of bond loans, amortised cost corresponds to the outstanding balance determined as the underlying cash value of the loans at the time of borrowing adjusted for amortisation of capital losses on the loans over the repayment period. Other liabilities, comprising deposits, trade payables and other accounts payable, are measured at amortised cost, which usually corresponds to the nominal value. Other payables Other payables are measured at amortised cost, which usually corresponds to the nominal value Contingent assets and liabilities Contingent assets and liabilities are not recognised in the Balance Sheet but appear only in the notes. 2. Contingent liabilities The Company is jointly taxed with the other enterprises in the group and are jointly and severally liable for the taxes that concern the joint taxation. The total amount appears from the annual report of AEB Denmark ApS which is the administration company in the joint taxation. 3. Collaterals and securities No securities or mortgages exist at the balance sheet date. 355616862810953851920-519201417529451398886511061912581117791131358607491358607491358607491358607491030284911043935251358607491358607491. Long-term debt obligations Debt that is due in more than 5 years 103.028.491 104.393.525 Long term debt in total 103.028.491 104.393.525 6572000597553712543190010302849110439352512247309510474427452149-47016347452149-47016346023110-602745751920-519203546168628059538false3162767738558858921964027902130073903162645265463745914573980460-1429039-1325823Taastrup, 2630FSR - Danske Revisorer, Spotorno Allé 62019-01-222021-03-114019406119233383ÅrsrapportMario TomasoniAEB Denmark ApSOptimal Revision Godkendt Revisionsvirksomhed2019-01-222019-12-312020-12-312020-01-01The Company's principal activities The company's main activities consist of being a holding company in Denmark, and other activities which, in the opinion of the Executive Board, are related thereto The Company's principal activities The company's main activities consist of being a holding company in Denmark, and other activities which, in the opinion of the Executive Board, are related thereto The Annual Report is presented in accordance with the Danish Financial Statements Act. In our opinion, the Financial Statements give a true and fair view of the assets, liabilities and financial position of the Company at 31 December 2020 and of the results of the Company's operations for the financial year 1 January 2020 - 31 December 2020. The conditions for not conducting an audit of the Financial Statement have been met. 2021-03-11Today, Management has considered and adopted the Annual Report of AEB Denmark ApS for the financial year 1 January 2020 - 31 December 2020. In our opinion, the Management's Review includes a true and fair account of the matters addressed in the review. KøbenhavnWe recommend that the Annual Report be adopted at the Annual General Meeting. Today, Management has considered and adopted the Annual Report of AEB Denmark ApS for the financial year 1 January 2020 - 31 December 2020. The Annual Report is presented in accordance with the Danish Financial Statements Act. In our opinion, the Financial Statements give a true and fair view of the assets, liabilities and financial position of the Company at 31 December 2020 and of the results of the Company's operations for the financial year 1 January 2020 - 31 December 2020. In our opinion, the Management's Review includes a true and fair account of the matters addressed in the review. The conditions for not conducting an audit of the Financial Statement have been met. We recommend that the Annual Report be adopted at the Annual General Meeting. København, 11 March 2021 Executive Board Mario Tomasoni Direktør