33580517 2021-07-01 2022-06-30 33580517 2021-07-01 2022-06-30 0 33580517 2021-07-01 2022-06-30 1 33580517 2021-07-01 2022-06-30 0 33580517 2021-07-01 2022-06-30 1 33580517 2021-07-01 2022-06-30 2 33580517 2021-07-01 2022-06-30 3 33580517 2021-07-01 2022-06-30 4 33580517 2021-07-01 2022-06-30 5 33580517 2021-07-01 2022-06-30 6 33580517 2020-07-01 2021-06-30 33580517 2021-07-01 2022-06-30 fsa:ProposedDividendRecognisedInEquityMember 33580517 2020-07-01 2021-06-30 fsa:ProposedDividendRecognisedInEquityMember 33580517 2021-07-01 2022-06-30 fsa:ReserveForNetRevaluationAccordingToEquityMethodMember 33580517 2020-07-01 2021-06-30 fsa:ReserveForNetRevaluationAccordingToEquityMethodMember 33580517 2021-07-01 2022-06-30 fsa:RetainedEarningsMember 33580517 2020-07-01 2021-06-30 fsa:RetainedEarningsMember 33580517 2022-06-30 33580517 2021-06-30 33580517 2021-07-01 2022-06-30 0 33580517 2021-07-01 2022-06-30 1 iso4217:DKK xbrli:pure 2021-07-01 2022-06-30 Pack Tech Holding ApS Virkeholmen 3B, 2. DK-2730 Herlev 33580517 Herlev 2022-11-15 Peter Skau-Andersen <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">Management’s 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">The Executive Board and Board of Directors have today considered and adopted the Annual Report of Pack Tech Holding ApS for the financial year 1 July 2021 - 30 June 2022.</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 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">In our opinion the Financial Statements give a true and fair view of the financial position at 30 June 2022 of the Company and of the results of the Company operations for 2021/22.</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">We recommend that the Annual Report be adopted at the Annual General Meeting.</td></tr></table> Herlev 2022-11-15 <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">Independent Auditor’s Report</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">To the Shareholders of Pack Tech Holding ApS</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">Opinion</td></tr><tr><td colspan="1">In our opinion, the Financial Statements give a true and fair view of the financial position of the Company at 30 June 2022 and of the results of the Company’s operations for the financial year 1 July 2021 - 30 June 2022 in accordance with the Danish Financial Statements Act.</td></tr><tr><td colspan="1">We have audited the Financial Statements of Pack Tech Holding ApS for the financial year 1 July 2021 - 30 June 2022, which comprise income statement, balance sheet, statement of changes in equity and notes, including a summary of significant accounting policies (”the Financial Statements”).</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">Basis for Opinion</td></tr><tr><td colspan="1">We conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the ”Auditor’s responsibilities for the audit of the Financial Statements” section of our report. We are independent of the Company in accordance with the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.</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">Management’s responsibilities for the Financial Statements</td></tr><tr><td colspan="1">Management is responsible for the preparation of financial statements that give a true and fair view in accordance with the Danish Financial Statements Act, and for such internal control as Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.</td></tr><tr><td colspan="1">In preparing the Financial Statements, Management is responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting in preparing the Financial Statements unless Management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.</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">Auditor’s responsibilities for the audit of the Financial Statements</td></tr><tr><td colspan="1">Our objectives are to obtain reasonable assurance about whether the Financial Statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Financial Statements.</td></tr><tr><td colspan="1">As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgement and maintain professional scepticism throughout the audit. We also</td></tr><tr><td colspan="1">• Identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.</td></tr><tr><td colspan="1">• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control.</td></tr><tr><td colspan="1">• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management.</td></tr><tr><td colspan="1">• Conclude on the appropriateness of Management’s use of the going concern basis of accounting in preparing the Financial Statements and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the Financial Statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company to cease to continue as a going concern.</td></tr><tr><td colspan="1">• Evaluate the overall presentation, structure and contents of the Financial Statements, including the disclosures, and whether the Financial Statements represent the underlying transactions and events in a manner that gives a true and fair view.</td></tr><tr><td colspan="1">We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.</td></tr></table> Hellerup 2022-11-15 0 28933 -28933 17572406 129492 218686 17454279 -25988 17480267 <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="7" align="left" valign="middle" ><b>Statement of Changes in Equity</b></td></tr><tr><td width="16%" ></td><td width="6%" colspan="1" align="right" valign="middle" ><b>Share capital</b></td><td width="16%" colspan="1" align="right" valign="middle" ><b>Reserve for currency adjustment</b></td><td width="27%" colspan="1" align="right" valign="middle" ><b>Reserve for net revaluation under the equity method</b></td><td width="9%" colspan="1" align="right" valign="middle" ><b>Retained earnings</b></td><td width="16%" colspan="1" align="right" valign="middle" ><b>Proposed dividend for the year</b></td><td width="10%" colspan="1" align="right" valign="middle" ><b>Total</b></td></tr><tr><td width="16%" ></td><td width="6%" colspan="1" align="right" valign="middle" ><b>DKK</b></td><td width="16%" colspan="1" align="right" valign="middle" ><b>DKK</b></td><td width="27%" colspan="1" align="right" valign="middle" ><b>DKK</b></td><td width="9%" colspan="1" align="right" valign="middle" ><b>DKK</b></td><td width="16%" colspan="1" align="right" valign="middle" ><b>DKK</b></td><td width="10%" colspan="1" align="right" valign="middle" ><b>DKK</b></td></tr><tr><td width="16%" colspan="1" align="left" valign="middle" >Equity at 1 July</td><td width="6%" align="right" valign="middle" >57.600</td><td width="16%" align="right" valign="middle" >0</td><td width="27%" align="right" valign="middle" >62.046.800</td><td width="9%" align="right" valign="middle" >8.341.470</td><td width="16%" align="right" valign="middle" >13.000.000</td><td width="10%" align="right" valign="middle" >83.445.870</td></tr><tr><td width="16%" colspan="1" align="left" valign="middle" >Ordinary dividend paid</td><td width="6%" align="right" valign="middle" >0</td><td width="16%" align="right" valign="middle" >0</td><td width="27%" align="right" valign="middle" >0</td><td width="9%" align="right" valign="middle" >0</td><td width="16%" align="right" valign="middle" >-13.000.000</td><td width="10%" align="right" valign="middle" >-13.000.000</td></tr><tr><td width="16%" colspan="1" align="left" valign="middle" >Currency exchange adjustment</td><td width="6%" align="right" valign="middle" >0</td><td width="16%" align="right" valign="middle" >-14.957</td><td width="27%" align="right" valign="middle" >0</td><td width="9%" align="right" valign="middle" >0</td><td width="16%" align="right" valign="middle" >0</td><td width="10%" align="right" valign="middle" >-14.957</td></tr><tr><td width="16%" colspan="1" align="left" valign="middle" >Net profit/loss for the year</td><td width="6%" align="right" valign="middle" >0</td><td width="16%" align="right" valign="middle" >0</td><td width="27%" align="right" valign="middle" >0</td><td width="9%" align="right" valign="middle" >4.480.267</td><td width="16%" align="right" valign="middle" >13.000.000</td><td width="10%" align="right" valign="middle" >17.480.267</td></tr><tr><td width="16%" colspan="1" align="left" valign="middle" ><b>Equity at 30 June</b></td><td width="6%" align="right" valign="middle" ><b>57.600</b></td><td width="16%" align="right" valign="middle" ><b>-14.957</b></td><td width="27%" align="right" valign="middle" ><b>62.046.800</b></td><td width="9%" align="right" valign="middle" ><b>12.821.737</b></td><td width="16%" align="right" valign="middle" ><b>13.000.000</b></td><td width="10%" align="right" valign="middle" ><b>87.911.180</b></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></b></td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Key activities</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The purpose of the company is to carry on business activities in the form of holding ownership interests in public and private limited companies, making investments, asset management and related activities.</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="3" align="left" valign="middle" ><b>Financial income</b></td></tr><tr><td width="60%" ></td><td width="19%" colspan="1" align="right" valign="middle" ><b>2021/22</b></td><td width="21%" colspan="1" align="right" valign="middle" ><b>2020/21</b></td></tr><tr><td width="60%" ></td><td width="19%" colspan="1" align="right" valign="middle" ><b>DKK</b></td><td width="21%" colspan="1" align="right" valign="middle" ><b>DKK</b></td></tr><tr><td width="60%" colspan="1" align="left" valign="middle" >Interest received from group enterprises</td><td width="19%" align="right" valign="middle" >0</td><td width="21%" align="right" valign="middle" >0</td></tr><tr><td width="60%" colspan="1" align="left" valign="middle" >Other financial income</td><td width="19%" align="right" valign="middle" >129.492</td><td width="21%" align="right" valign="middle" >172.371</td></tr><tr><td width="60%" ></td><td width="19%" align="right" valign="middle" ><b>129.492</b></td><td width="21%" align="right" valign="middle" ><b>172.371</b></td></tr><tr><td colspan="3"></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="3" align="left" valign="middle" ><b>Financial expenses</b></td></tr><tr><td width="60%" ></td><td width="19%" colspan="1" align="right" valign="middle" ><b>2021/22</b></td><td width="21%" colspan="1" align="right" valign="middle" ><b>2020/21</b></td></tr><tr><td width="60%" ></td><td width="19%" colspan="1" align="right" valign="middle" ><b>DKK</b></td><td width="21%" colspan="1" align="right" valign="middle" ><b>DKK</b></td></tr><tr><td width="60%" colspan="1" align="left" valign="middle" >Interest paid to group enterprises</td><td width="19%" align="right" valign="middle" >218.571</td><td width="21%" align="right" valign="middle" >260.768</td></tr><tr><td width="60%" colspan="1" align="left" valign="middle" >Other financial expenses</td><td width="19%" align="right" valign="middle" >115</td><td width="21%" align="right" valign="middle" >2.046</td></tr><tr><td width="60%" ></td><td width="19%" align="right" valign="middle" ><b>218.686</b></td><td width="21%" align="right" valign="middle" ><b>262.814</b></td></tr><tr><td colspan="3"></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="3" align="left" valign="middle" ><b>Tax on profit/loss for the year</b></td></tr><tr><td width="60%" ></td><td width="19%" colspan="1" align="right" valign="middle" ><b>2021/22</b></td><td width="21%" colspan="1" align="right" valign="middle" ><b>2020/21</b></td></tr><tr><td width="60%" ></td><td width="19%" colspan="1" align="right" valign="middle" ><b>DKK</b></td><td width="21%" colspan="1" align="right" valign="middle" ><b>DKK</b></td></tr><tr><td width="60%" colspan="1" align="left" valign="middle" >Current tax for the year</td><td width="19%" align="right" valign="middle" >-25.988</td><td width="21%" align="right" valign="middle" >-26.360</td></tr><tr><td width="60%" colspan="1" align="left" valign="middle" >Adjustment of tax concerning previous years</td><td width="19%" align="right" valign="middle" >0</td><td width="21%" align="right" valign="middle" >0</td></tr><tr><td width="60%" ></td><td width="19%" align="right" valign="middle" ><b>-25.988</b></td><td width="21%" align="right" valign="middle" ><b>-26.360</b></td></tr><tr><td colspan="3"></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="6" align="left" valign="middle" ><b>Investments in subsidiaries</b></td></tr><tr><td width="33%" ></td><td width="11%" colspan="1" align="right" valign="middle" ><b>2021/22</b></td><td width="11%" colspan="1" align="right" valign="middle" ><b>2020/21</b></td><td width="15%" colspan="1" align="right" valign="middle" ><b></b></td><td width="8%" colspan="1" align="right" valign="middle" ><b></b></td><td width="22%" colspan="1" align="right" valign="middle" ><b></b></td></tr><tr><td width="33%" ></td><td width="11%" colspan="1" align="right" valign="middle" ><b>DKK</b></td><td width="11%" colspan="1" align="right" valign="middle" ><b>DKK</b></td><td width="15%" colspan="1" align="right" valign="middle" ><b></b></td><td width="8%" colspan="1" align="right" valign="middle" ><b></b></td><td width="22%" colspan="1" align="right" valign="middle" ><b></b></td></tr><tr><td width="33%" colspan="1" align="left" valign="middle" >Cost at 1 July</td><td width="11%" align="right" valign="middle" >9.000.000</td><td width="11%" align="right" valign="middle" >9.000.000</td><td width="15%" ></td><td width="8%" ></td><td width="22%" ></td></tr><tr><td width="33%" colspan="1" align="left" valign="middle" >Cost at 30 June</td><td width="11%" align="right" valign="middle" >9.000.000</td><td width="11%" align="right" valign="middle" >9.000.000</td><td width="15%" ></td><td width="8%" ></td><td width="22%" ></td></tr><tr><td colspan="6"></td></tr><tr><td width="33%" colspan="1" align="left" valign="middle" >Value adjustments at 1 July</td><td width="11%" align="right" valign="middle" >75.046.800</td><td width="11%" align="right" valign="middle" >54.910.085</td><td width="15%" ></td><td width="8%" ></td><td width="22%" ></td></tr><tr><td width="33%" colspan="1" align="left" valign="middle" >Disposals for the year</td><td width="11%" align="right" valign="middle" >0</td><td width="11%" align="right" valign="middle" >597.200</td><td width="15%" ></td><td width="8%" ></td><td width="22%" ></td></tr><tr><td width="33%" colspan="1" align="left" valign="middle" >Rrency exchange adjustment</td><td width="11%" align="right" valign="middle" >-14.955</td><td width="11%" align="right" valign="middle" >0</td><td width="15%" ></td><td width="8%" ></td><td width="22%" ></td></tr><tr><td width="33%" colspan="1" align="left" valign="middle" >Net profit/loss for the year</td><td width="11%" align="right" valign="middle" >17.572.406</td><td width="11%" align="right" valign="middle" >35.071.528</td><td width="15%" ></td><td width="8%" ></td><td width="22%" ></td></tr><tr><td width="33%" colspan="1" align="left" valign="middle" >Dividend to the Parent Company</td><td width="11%" align="right" valign="middle" >-13.000.000</td><td width="11%" align="right" valign="middle" >-15.400.000</td><td width="15%" ></td><td width="8%" ></td><td width="22%" ></td></tr><tr><td width="33%" colspan="1" align="left" valign="middle" >Other equity movements, net</td><td width="11%" align="right" valign="middle" >0</td><td width="11%" align="right" valign="middle" >-132.013</td><td width="15%" ></td><td width="8%" ></td><td width="22%" ></td></tr><tr><td width="33%" colspan="1" align="left" valign="middle" >Other adjustments</td><td width="11%" align="right" valign="middle" >0</td><td width="11%" align="right" valign="middle" >0</td><td width="15%" ></td><td width="8%" ></td><td width="22%" ></td></tr><tr><td colspan="6"></td></tr><tr><td width="33%" colspan="1" align="left" valign="middle" >Value adjustments at 30 June</td><td width="11%" align="right" valign="middle" >79.604.251</td><td width="11%" align="right" valign="middle" >75.046.800</td><td width="15%" ></td><td width="8%" ></td><td width="22%" ></td></tr><tr><td colspan="6"></td></tr><tr><td width="33%" colspan="1" align="left" valign="middle" >Equity investments with negative net asset value amortised over receivables</td><td width="11%" align="right" valign="middle" >0</td><td width="11%" align="right" valign="middle" >0</td><td width="15%" ></td><td width="8%" ></td><td width="22%" ></td></tr><tr><td colspan="6"></td></tr><tr><td width="33%" colspan="1" align="left" valign="middle" ><b>Carrying amount at 30 June</b></td><td width="11%" align="right" valign="middle" ><b>88.604.251</b></td><td width="11%" align="right" valign="middle" ><b>84.046.800</b></td><td width="15%" ></td><td width="8%" ></td><td width="22%" ></td></tr><tr><td colspan="6"></td></tr><tr><td width="100%" colspan="6" align="left" valign="middle" >Investments in subsidiaries are specified as follows</td></tr><tr><td colspan="6"></td></tr><tr><td width="33%" colspan="1" align="left" valign="middle" ><b>Name</b></td><td width="11%" colspan="1" align="left" valign="middle" ><b>Place of registered office</b></td><td width="11%" colspan="1" align="left" valign="middle" ><b>Share capital</b></td><td width="15%" colspan="1" align="right" valign="middle" ><b>Votes and ownership</b></td><td width="8%" colspan="1" align="right" valign="middle" ><b>Equity</b></td><td width="22%" colspan="1" align="right" valign="middle" ><b>Net profit/loss for the year</b></td></tr><tr><td width="33%" colspan="1" align="left" valign="middle" >Pack Tech A/S</td><td width="11%" colspan="1" align="left" valign="middle" >Virkeholmen 3B, Denmark</td><td width="11%" colspan="1" align="left" valign="middle" >DKK 500.000</td><td width="15%" align="right" valign="middle" >100%</td><td width="8%" align="right" valign="middle" >88.604.251</td><td width="22%" align="right" valign="middle" >17.572.406</td></tr><tr><td width="33%" ></td><td width="11%" ></td><td width="11%" ></td><td width="15%" ></td><td width="8%" align="right" valign="middle" >88.604.251</td><td width="22%" align="right" valign="middle" >17.572.406</td></tr><tr><td colspan="6"></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="6" align="left" valign="middle" ><b>Equity</b></td></tr><tr><td width="100%" colspan="6" align="left" valign="middle" >The share capital consists of 57,600 shares of a nominal value of DKK 1. No shares carry any special rights.</td></tr><tr><td width="100%" colspan="6" align="left" valign="middle" >The share capital has developed as follows</td></tr><tr><td width="33%" ></td><td width="11%" colspan="1" align="right" valign="middle" ><b>2021/22</b></td><td width="11%" colspan="1" align="right" valign="middle" ><b>2020/21</b></td><td width="15%" colspan="1" align="right" valign="middle" ><b>2019/20</b></td><td width="8%" colspan="1" align="right" valign="middle" ><b>2018/19</b></td><td width="22%" colspan="1" align="right" valign="middle" ><b>2017/18</b></td></tr><tr><td width="33%" ></td><td width="11%" colspan="1" align="right" valign="middle" ><b>DKK</b></td><td width="11%" colspan="1" align="right" valign="middle" ><b>DKK</b></td><td width="15%" colspan="1" align="right" valign="middle" ><b>DKK</b></td><td width="8%" colspan="1" align="right" valign="middle" ><b>DKK</b></td><td width="22%" colspan="1" align="right" valign="middle" ><b>DKK</b></td></tr><tr><td width="33%" colspan="1" align="left" valign="middle" >Share capital at 1 July</td><td width="11%" align="right" valign="middle" >57.600</td><td width="11%" align="right" valign="middle" >57.600</td><td width="15%" align="right" valign="middle" >64.000</td><td width="8%" align="right" valign="middle" >64.000</td><td width="22%" align="right" valign="middle" >64.000</td></tr><tr><td width="33%" colspan="1" align="left" valign="middle" >Capital increase</td><td width="11%" align="right" valign="middle" >0</td><td width="11%" align="right" valign="middle" >0</td><td width="15%" align="right" valign="middle" >0</td><td width="8%" align="right" valign="middle" >0</td><td width="22%" align="right" valign="middle" >0</td></tr><tr><td width="33%" colspan="1" align="left" valign="middle" >Capital decrease</td><td width="11%" align="right" valign="middle" >0</td><td width="11%" align="right" valign="middle" >0</td><td width="15%" align="right" valign="middle" >-6.400</td><td width="8%" align="right" valign="middle" >0</td><td width="22%" align="right" valign="middle" >0</td></tr><tr><td width="33%" colspan="1" align="left" valign="middle" ><b>Share capital at 30 June</b></td><td width="11%" align="right" valign="middle" ><b>57.600</b></td><td width="11%" align="right" valign="middle" ><b>57.600</b></td><td width="15%" align="right" valign="middle" ><b>57.600</b></td><td width="8%" align="right" valign="middle" ><b>64.000</b></td><td width="22%" align="right" valign="middle" ><b>64.000</b></td></tr><tr><td colspan="6"></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 assets, liabilities and other financial obligations</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Contingent liabilities</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The group companies are jointly and severally liable for tax on the jointly taxed incomes etc of the Group. The total amount of corporation tax payable is disclosed in the Annual Report of BE Loumann Holding ApS, which is the management company of the joint taxation purposes. Moreover, the group companies are jointly and severally liable for Danish withholding taxes by way of dividend tax, tax on royalty payments and tax on unearned income. Any subsequent adjustments of corporation taxes and withholding taxes may increase the Company’s liability.</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="2" align="left" valign="middle" ><b>Related parties</b></td></tr><tr><td width="75%" ></td><td width="25%" colspan="1" align="left" valign="middle" ><b>Basis</b></td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" ><b>Transactions</b></td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" >The Company has chosen only to disclose transactions which have not been made on an arm’s length basis in accordance with section 98(c)(7) of the Danish Financial Statements Act.</td></tr><tr><td colspan="2"></td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" ><b>Consolidated Financial Statements</b></td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" >The company is included in the consolidated report for the parent company</td></tr><tr><td colspan="2"></td></tr><tr><td width="75%" colspan="1" align="left" valign="middle" >Name</td><td width="25%" colspan="1" align="left" valign="middle" >Place of registered office</td></tr><tr><td width="75%" colspan="1" align="left" valign="middle" >BE Loumann Holding ApS</td><td width="25%" colspan="1" align="left" valign="middle" >Vejle</td></tr><tr><td colspan="2"></td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" >The consolidated report for BE Loumann Holding ApS can be requested at the following address: Lysholt Allé 10, 7100 Vejle</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">Accounting Policies</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">Recognition and measurement</td></tr><tr><td colspan="1">Revenues are recognised in the income statement as earned. Furthermore, value adjustments of financial assets and liabilities measured at fair value or amortised cost are recognised. 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.</td></tr><tr><td colspan="1">Assets are recognised in the balance sheet when it is probable that future economic benefits attributable to the asset will flow to the Company, and the value of the asset can be measured reliably.</td></tr><tr><td colspan="1">Liabilities are recognised in the balance sheet when it is probable that future economic benefits will flow out of the Company, and the value of the liability can be measured reliably.</td></tr><tr><td colspan="1">Assets and liabilities are initially measured at cost. Subsequently, assets and liabilities are measured as described for each item below.</td></tr><tr><td colspan="1">Income Statement</td></tr><tr><td colspan="1">Gross profit/loss</td></tr><tr><td colspan="1">With reference to section 32 of the Danish Financial Statements Act, gross profit/loss is calculated as a summary of .</td></tr><tr><td colspan="1">Administrative expenses</td></tr><tr><td colspan="1">Administrative expenses comprise expenses for Management, administrative staff, office expenses, depreciation, etc. Amortisation of goodwill is also included to the extent that goodwill relates to administrative activities.</td></tr><tr><td colspan="1">Income from investments in subsidiaries</td></tr><tr><td colspan="1">The item “Income from investments in subsidiaries” in the income statement includes the proportionate share of the profit for the year.</td></tr><tr><td colspan="1">Financial income and expenses</td></tr><tr><td colspan="1">Financial income and expenses are recognised in the income statement at the amounts relating to the financial year.</td></tr><tr><td colspan="1">Tax on profit/loss for the year</td></tr><tr><td colspan="1">Tax for the year consists of current tax for the year and changes in deferred tax for the year. The tax attributable to the profit for the year is recognised in the income statement, whereas the tax attributable to equity transactions is recognised directly in equity.</td></tr><tr><td colspan="1">The Company is jointly taxed with wholly owned Danish and foreign subsidiaries. The tax effect of the joint taxation is allocated to enterprises in proportion to their taxable incomes.</td></tr><tr><td colspan="1">Balance Sheet</td></tr><tr><td colspan="1">Investments in subsidiaries</td></tr><tr><td colspan="1">Investments in subsidiaries are recognised and measured under the equity method.</td></tr><tr><td colspan="1">The item“Investments in subsidiaries” in the balance sheet include the proportionate ownership share of the net asset value of the enterprises calculated on the basis of the fair values of identifiable net assets at the time of acquisition with deduction or addition of unrealised intercompany profits or losses and with addition of the remaining value of any increases in value and goodwill calculated at the time of acquisition of the enterprises.</td></tr><tr><td colspan="1">The total net revaluation of investments in subsidiaries is transferred upon distribution of profit to “Reserve for net revaluation under the equity method“ under equity. The reserve is reduced by dividend distributed to the Parent Company and adjusted for other equity movements in the subsidiaries.</td></tr><tr><td colspan="1">Subsidiaries with a negative net asset value are recognised at DKK 0. Any legal or constructive obligation of the Parent Company to cover the negative balance of the enterprise is recognised in provisions.</td></tr><tr><td colspan="1">Receivables</td></tr><tr><td colspan="1">Receivables are measured in the balance sheet at the lower of amortised cost and net realisable value, which corresponds to nominal value less provisions for bad debts.</td></tr><tr><td colspan="1">Dividend</td></tr><tr><td colspan="1">Dividend distribution proposed by Management for the year is disclosed as a separate equity item.</td></tr><tr><td colspan="1">Current tax receivables and liabilities</td></tr><tr><td colspan="1">Current tax liabilities and receivables are recognised in the balance sheet as the expected taxable income for the year adjusted for tax on taxable incomes for prior years and tax paid on account. Extra payments and repayment under the on-account taxation scheme are recognised in the income statement in financial income and expenses.</td></tr><tr><td colspan="1">Financial debts</td></tr><tr><td colspan="1">Debts are measured at amortised cost, substantially corresponding to nominal value.</td></tr></table> Regnskabsklasse B <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 of Pack Tech Holding ApS for 2021/22 has been prepared in accordance with the provisions of the Danish Financial Statements Act applying to enterprises of reporting class B.</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">Consolidated financial statements</td></tr><tr><td colspan="1">With reference to section 112 of the Danish Financial Statements Act and to the consolidated financial statements of BE Loumann Holding ApS, the Company has not prepared consolidated financial statements.</td></tr></table> Årsrapport 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Strandvejen 44 2900 Hellerup xWizard version 1.1.1166.0, by EasyX Aps. www.easyx.eu 2020-07-01 2021-06-30 Revisionspåtegning Grundlag for konklusion Konklusion 0 Christian Loumann Severin Thomas Jeffrey Malherbes Gullacksen Executive Officer Peter Skau-Andersen Chairman Thomas Jeffrey Malherbes Gullacksen Kristoffer Nilaus Tarp Henrik Breck Jeppe Holger Hjølund Larsen Christian Loumann Severin Mikkel Andreas Heideby 0 29375 -29375 35071528 172371 262814 34951710 -26360 34978070 13000000 13000000 4480267 22668728 0 -690658 88604251 88604251 88604251 973177 0 52348 0 1025525 118360 1143885 89748136 57600 62031843 12821737 13000000 87911180 1815081 21875 1836956 1836956 89748136 84046800 84046800 84046800 524262 61571 26360 145304 757497 116159 873656 84920456 57600 62046800 8341470 13000000 83445870 1457086 17500 1474586 1474586 84920456 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab DK-2900 Hellerup Strandvejen 44 33771231 Martin Lunden State Authorised Public Accountant mne32209 Mads Blichfeldt Fjord State Authorised Public Accountant mne46065 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab