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fsa:RetainedEarningsMember 89966310 2021-01-01 2021-12-31 0 89966310 2021-01-01 2021-12-31 1 89966310 2021-01-01 2021-12-31 2 89966310 2021-01-01 2021-12-31 3 89966310 2021-01-01 2021-12-31 4 89966310 2021-01-01 2021-12-31 0 89966310 2021-01-01 2021-12-31 1 89966310 2021-01-01 2021-12-31 0 iso4217:DKK xbrli:pure 2021-01-01 2021-12-31 <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">Ledelsesberetning</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 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">Hoved- og nøgletalsoversigt</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">Key Figures and financial highlights</td></tr></table> 247325000 10300000 3000000 10303000 2300000 142 0.042 99380000 20606000 127339000 -10000 115142000 1867000 8990000 6009000 13301000 2998000 <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="9"></td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" ><b>Egenkapitalopgørelse</b></td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" ><b>pr. 31. december 2021</b></td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" ><b>Equity at 31 December 2021</b></td></tr><tr><td colspan="9"></td></tr><tr><td width="5%" ></td><td width="11%" ></td><td width="9%" ></td><td width="23%" colspan="1" align="right" valign="middle" ><b>Aktie-</b></td><td width="11%" colspan="1" align="right" valign="middle" ><b></b></td><td width="13%" colspan="1" align="right" valign="middle" ><b>Overført</b></td><td width="5%" colspan="1" align="right" valign="middle" ><b></b></td><td width="8%" colspan="1" align="right" valign="middle" ><b></b></td><td width="15%" colspan="1" align="right" valign="middle" ><b></b></td></tr><tr><td width="5%" ></td><td width="11%" ></td><td width="9%" ></td><td width="23%" colspan="1" align="right" valign="middle" ><b>kapital</b></td><td width="11%" colspan="1" align="right" valign="middle" ><b></b></td><td width="13%" colspan="1" align="right" valign="middle" ><b>resultat</b></td><td width="5%" colspan="1" align="right" valign="middle" ><b></b></td><td width="8%" colspan="1" align="right" valign="middle" ><b></b></td><td width="15%" colspan="1" align="right" valign="middle" ><b>I alt</b></td></tr><tr><td width="5%" ></td><td width="11%" ></td><td width="9%" ></td><td width="23%" colspan="1" align="right" valign="middle" ><b>Share</b></td><td width="11%" colspan="1" align="right" valign="middle" ><b></b></td><td width="13%" colspan="1" align="right" valign="middle" ><b>Retained</b></td><td width="5%" colspan="1" align="right" valign="middle" ><b></b></td><td width="8%" colspan="1" align="right" valign="middle" ><b></b></td><td width="15%" colspan="1" align="right" valign="middle" ><b>Total</b></td></tr><tr><td width="5%" ></td><td width="11%" ></td><td width="9%" ></td><td width="23%" colspan="1" align="right" valign="middle" ><b>capital</b></td><td width="11%" colspan="1" align="right" valign="middle" ><b></b></td><td width="13%" colspan="1" align="right" valign="middle" ><b>earnings</b></td><td width="5%" colspan="1" align="right" valign="middle" ><b></b></td><td width="8%" colspan="1" align="right" valign="middle" ><b></b></td><td width="15%" colspan="1" align="right" valign="middle" ><b></b></td></tr><tr><td width="5%" ></td><td width="11%" ></td><td width="9%" ></td><td width="23%" colspan="1" align="right" valign="middle" >DKK '000</td><td width="11%" colspan="1" align="right" valign="middle" ></td><td width="13%" colspan="1" align="right" valign="middle" >DKK '000</td><td width="5%" colspan="1" align="right" valign="middle" ></td><td width="8%" colspan="1" align="right" valign="middle" ></td><td width="15%" colspan="1" align="right" valign="middle" >DKK '000</td></tr><tr><td colspan="9"></td></tr><tr><td width="5%" ></td><td width="20%" colspan="2" align="left" valign="middle" >Saldo pr. 1/1 2021</td><td width="23%" align="right" valign="middle" >5.502</td><td width="11%" ></td><td width="13%" align="right" valign="middle" > 35.514 </td><td width="5%" ></td><td width="8%" ></td><td width="15%" align="right" valign="middle" > 41.016 </td></tr><tr><td width="5%" ></td><td width="95%" colspan="8" align="left" valign="middle" >Balance as at 1/1 2021</td></tr><tr><td width="5%" ></td><td width="20%" colspan="2" align="left" valign="middle" >Betalt udbytte</td><td width="23%" align="right" valign="middle" > - </td><td width="11%" ></td><td width="13%" align="right" valign="middle" > - </td><td width="5%" ></td><td width="8%" ></td><td width="15%" align="right" valign="middle" > - </td></tr><tr><td width="5%" ></td><td width="95%" colspan="8" align="left" valign="middle" >Dividend paid</td></tr><tr><td width="5%" ></td><td width="20%" colspan="2" align="left" valign="middle" >Årets resultat</td><td width="23%" align="right" valign="middle" > - </td><td width="11%" ></td><td width="13%" align="right" valign="middle" > 10.303 </td><td width="5%" ></td><td width="8%" ></td><td width="15%" align="right" valign="middle" > 10.303 </td></tr><tr><td width="5%" ></td><td width="95%" colspan="8" align="left" valign="middle" >Net profit/loss for the year</td></tr><tr><td colspan="9"></td></tr><tr><td width="5%" ></td><td width="95%" colspan="8" align="left" valign="middle" ><b>Egenkapital</b></td></tr><tr><td width="5%" ></td><td width="20%" colspan="2" align="left" valign="middle" ><b>pr. 31/12 2021</b></td><td width="23%" align="right" valign="middle" ><b> 5.502 </b></td><td width="11%" ></td><td width="13%" align="right" valign="middle" ><b> 45.817 </b></td><td width="5%" ></td><td width="8%" ></td><td width="15%" align="right" valign="middle" ><b> 51.319 </b></td></tr><tr><td width="5%" ></td><td width="95%" colspan="8" align="left" valign="middle" ><b>Equity as at 31/12 2021</b></td></tr><tr><td colspan="9"></td></tr><tr><td width="5%" ></td><td width="95%" colspan="8" align="left" valign="middle" ><b>Specifikation af bevægelser på aktiekapitalen</b></td></tr><tr><td width="5%" ></td><td width="95%" colspan="8" align="left" valign="middle" ><b>Specification of changes in share capital</b></td></tr><tr><td colspan="9"></td></tr><tr><td width="5%" ></td><td width="95%" colspan="8" align="left" valign="middle" >Aktiekapitalen består af 50.000 stk. aktier á 100 kr., 1 stk. aktie á 500.000 kr.,</td></tr><tr><td width="5%" ></td><td width="95%" colspan="8" align="left" valign="middle" >samt 2 stk. aktier á 1.000 kr.</td></tr><tr><td width="5%" ></td><td width="95%" colspan="8" align="left" valign="middle" >The share caital is made up of 50,000 shares of DKK 100 each, one share of DKK 500,000 and two shares of DKK 1,000.</td></tr><tr><td colspan="9"></td></tr></table> Regnskabsklasse C, mellemstor virksomhed <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 /><td>Anvendt regnskabspraksis</td></tr><tr><td /><td>Årsrapporten for Veltec Industrial Services A/S for 2021 er aflagt i overensstemmelse med</td></tr><tr><td /><td>årsregnskabslovens bestemmelser for mellemstore virksomheder i regnskabsklasse C.</td></tr><tr><td /><td>Årsregnskabet er aflagt efter samme regnskabspraksis som sidste år.</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 /><td>Accounting policies</td></tr><tr><td /><td>The Annual Report for Veltec Industrial Services A/S for 2021 has been presented in accordance with the provisions of the Danish</td></tr><tr><td /><td>Financial Statements Act as regards medium-sized class C enterprises.</td></tr><tr><td /><td>The Financial Statements have been presented in accordance with the accounting principles also used for the previous year.</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 /><td>Generelt om indregning og måling</td></tr><tr><td /><td>Aktiver indregnes i balancen, når det er sandsynligt, at fremtidige økonomiske fordele vil tilflyde selskabet, og</td></tr><tr><td /><td>aktivets værdi kan måles pålideligt.</td></tr><tr><td /><td>Forpligtelser indregnes i balancen, når det er sandsynligt, at fremtidige økonomiske fordele vil fragå selskabet,</td></tr><tr><td /><td>og forpligtelsens værdi kan måles pålideligt.</td></tr><tr><td /><td>Ved første indregning måles aktiver og forpligtelser til kostpris. Måling efter første indregning sker som</td></tr><tr><td /><td>beskrevet for hver enkelt regnskabspost nedenfor.</td></tr><tr><td /><td>Ved indregning og måling tages hensyn til forudsigelige risici og tab, der forekommer inden årsrapporten</td></tr><tr><td /><td>aflægges, og som be- eller afkræfter forhold, der eksisterede på balancedagen.</td></tr><tr><td /><td>I resultatopgørelsen indregnes indtægter i takt med, at de indtjenes, mens omkostninger indregnes med de</td></tr><tr><td /><td>beløb, der vedrører regnskabsåret. Værdireguleringer af finansielle aktiver og forpligtelser indregnes i</td></tr><tr><td /><td>resultatopgørelsen som finansielle indtægter eller finansielle omkostninger.</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 /><td>Recognition and measurement</td></tr><tr><td /><td>Assets are recognised in the balance sheet when it is probable that future economic benefits will flow to the Company, and the value of the</td></tr><tr><td /><td>assets can be measured reliably.</td></tr><tr><td /><td>Liabilities are recognised in the balance sheet when it is probable that future economic benefits will flow out of the Company, and the value</td></tr><tr><td /><td>of the liabilities can be measured reliably.</td></tr><tr><td /><td>On initial recognition, assets and liabilities are measured at cost. Measurement subsequent to initial recognition is effected as described</td></tr><tr><td /><td>below for each item.</td></tr><tr><td /><td>Anticipated risks and losses that arise before the time of presentation of the Annual Report and that confirm or invalidate affairs and</td></tr><tr><td /><td>conditions existing at the balance sheet date are considered at recognition and measurement.</td></tr><tr><td /><td>Income is recognised in the income statement when earned, whereas costs are recognised by the amounts attributable to this financial year.</td></tr><tr><td /><td>Value adjustments of financial assets and liabilities are recorded in the income statement as financial income or financial expenses.</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 /><td>Omregning af fremmed valuta</td></tr><tr><td /><td>Transaktioner i fremmed valuta omregnes ved første indregning til transaktionsdagens kurs. Tilgodehavender,</td></tr><tr><td /><td>gældsforpligtelser og andre monetære poster i fremmed valuta, som ikke er afregnet på balancedagen,</td></tr><tr><td /><td>omregnes til balancedagens valutakurs. Valutakursdifferencer, der opstår mellem transaktionsdagens kurs og</td></tr><tr><td /><td>kursen på betalingsdagen henholdsvis balancedagens kurs, indregnes i resultatopgørelsen som finansielle poster.</td></tr><tr><td /><td>Anlægsaktiver, der er købt i fremmed valuta, omregnes til kursen på transaktionsdagen.</td></tr><tr><td /><td /><td /><td /><td /><td /><td /><td /><td /><td>Noter</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 /><td>Foreign currency translation</td></tr><tr><td /><td /><td /><td /><td /><td /><td /><td /><td /><td>Notes</td></tr><tr><td colspan="10">Note</td></tr><tr><td /><td>On initial recognition, foreign currency transactions are translated using the exchange rate applicable on the transaction date. Receivables,</td></tr><tr><td /><td>payables and other monetary items denominated in foreign currencies that have not been settled at the balance sheet date are translated at</td></tr><tr><td /><td>the exchange rate applicable on the balance sheet date. Exchange rate differences that arise between the rate on the transaction date and</td></tr><tr><td /><td>the date of settlement or the balance sheet date are recognised in the income statement as financial income or financial expenses. Fixed</td></tr><tr><td /><td>assets purchased in foreign currencies are translated using the exchange rate on the transaction date.</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 /><td>Resultatopgørelsen</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 /><td>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 /><td>Nettoomsætning</td></tr><tr><td /><td>Selskabet udfører i vidt omfang entrepriseopgaver, hvorfor produktionskriteriet anvendes. I overens-</td></tr><tr><td /><td>stemmelse hermed indregnes salgsværdien af årets produktion i resultatopgørelsen i takt med produktionens</td></tr><tr><td /><td>færdiggørelse. Forventede tab på ikke afsluttede entrepriser indregnes fuldt ud.</td></tr><tr><td /><td>Øvrige indtægter ved salg af varer og tjenesteydelser indregnes i resultatopgørelsen, såfremt levering har</td></tr><tr><td /><td>fundet sted inden regnskabsårets udgang.</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 /><td /><td /><td colspan="7">Nettoomsætning</td></tr><tr><td /><td /><td /><td colspan="7">Egenkapital x 100</td></tr><tr><td /><td /><td /><td colspan="7">Balancesum</td></tr><tr><td /><td /><td /><td colspan="7">Resultat før skat x 100</td></tr><tr><td /><td /><td /><td colspan="7">Gennemsnitlig egenkapital</td></tr><tr><td /><td /><td /><td /><td /><td /><td /><td /><td /><td>Noter</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 /><td>Net revenue</td></tr><tr><td /><td>To a wide extent, the Company carries out contract work. Consequently, the percentage of completion method is used. This means that the</td></tr><tr><td /><td>selling price of the production for the year is recognised in the income statement as production takes place. Expected losses on non-</td></tr><tr><td /><td>completed contracts are fully recognised.</td></tr><tr><td /><td>Other income from the sale of goods and services is recognised in the income statement if delivery has taken place before the end of the</td></tr><tr><td /><td>financial year.</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 /><td /><td /><td colspan="7">Net Revenue</td></tr><tr><td /><td /><td /><td colspan="7">Equity x 100</td></tr><tr><td /><td>Equity ratio</td></tr><tr><td /><td /><td /><td colspan="7">Balance sheet tota</td></tr><tr><td /><td /><td /><td colspan="7">Profit/loss before tax</td></tr><tr><td /><td>Return on equity</td></tr><tr><td /><td /><td /><td colspan="7">Average equity</td></tr><tr><td /><td /><td /><td /><td /><td /><td /><td /><td /><td>Notes</td></tr><tr><td colspan="10">Note</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 /><td>Omkostninger til råvarer og hjælpematerialer</td></tr><tr><td /><td>I omkostninger til råvarer og hjælpematerialer indregnes omkostninger, der afholdes for at opnå</td></tr><tr><td /><td>årets omsætning. Herunder indgår omkostninger til medgåede materialer og underleverandører.</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 /><td>Cost of raw materials and consumables</td></tr><tr><td /><td>Cost of raw materials and consumables comprises cost incurred to generate revenue for the year. This item also comprises</td></tr><tr><td /><td>direct costs for incurred materials and sub-suppliers.</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 /><td>Andre eksterne omkostninger</td></tr><tr><td /><td>Andre eksterne omkostninger omfatter omkostninger til distribution, salg, reklamer, administration, lokaler, tab på</td></tr><tr><td /><td>debitorer, operationelle leasingaftaler mv.</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 /><td>Other external expenses</td></tr><tr><td /><td>Other external expenses include cost for distribution, sale, advertising, administration, facilities, bad depts, operational leasingagreements etc.</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 /><td>Personaleomkostninger</td></tr><tr><td /><td>Personaleomkostninger omfatter løn og gager, inkl. feriepenge, pensioner og andre omkostninger</td></tr><tr><td /><td>til social sikring. I personaleomkostninger er fratrukket godtgørelser fra offentlige myndigheder.</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 /><td>Staff costs</td></tr><tr><td /><td>Staff costs comprise wages and salaries, including holiday allowance, pension and other social security costs, excluding</td></tr><tr><td /><td>reimbursements from public authorities.</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 /><td>Finansielle indtægter og omkostninger</td></tr><tr><td /><td>Finansielle indtægter og omkostninger indeholder renter, kursgevinster og –tab vedrørende tilgodehavender,</td></tr><tr><td /><td>gæld og transaktioner i fremmed valuta samt tillæg/fradrag af godtgørelser og renter under aconto</td></tr><tr><td /><td>skatteordningen.</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 /><td>Financial income and expenses</td></tr><tr><td /><td>Financial income and expenses contains interests, exchange rate profits and losses concerning receivables, liabilities and transactions in</td></tr><tr><td /><td>foreign currencies as well as awards/reductions of fees and interests with regards to the prepayment system of taxation.</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 /><td>Skatter</td></tr><tr><td /><td>Årets skat, som består af årets aktuelle skat og ændring af udskudt skat, indregnes i resultatopgørelsen med</td></tr><tr><td /><td>den del, der kan henføres til årets resultat, og direkte på egenkapitalen med den del, der kan henføres til</td></tr><tr><td /><td>posteringer direkte på egenkapitalen.</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 /><td>Income taxes</td></tr><tr><td /><td>Tax for the year, which consists of current tax for the year and changes in deferred tax, is recognised in the income statement by the portion</td></tr><tr><td /><td>attributable to the profit for the year, and directly under equity by the portion attributable to entries directly on equity.</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 /><td>Balancen</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 /><td>Balance sheet</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 /><td>Materielle anlægsaktiver</td></tr><tr><td /><td>Materielle anlægsaktiver måles til kostpris med fradrag af akkumulerede af- og nedskrivninger. Kostprisen</td></tr><tr><td /><td>omfatter anskaffelsesprisen, omkostninger direkte tilknyttet anskaffelsen samt omkostninger til klargøring af</td></tr><tr><td /><td>aktivet indtil det tidspunkt, hvor aktivet er klar til at blive taget i brug. Omkostninger, der afholdes med</td></tr><tr><td /><td>henblik på at forbedre bygningerne i forhold til deres standard på anskaffelsestidspunktet, aktiveres og</td></tr><tr><td /><td>afskrives som tillæg til ejendommenes anskaffelsessum. Der afskrives ikke på grunde.</td></tr><tr><td /><td>Afskrivningsgrundlaget er kostpris med fradrag af forventet restværdi efter afsluttet brugstid. Der foretages</td></tr><tr><td /><td>lineære afskrivninger baseret på følgende vurdering af aktivernes forventede brugstider</td></tr><tr><td /><td>Bygninger</td><td /><td /><td>højst 50 år</td></tr><tr><td /><td>Bygningsinstallationer</td><td /><td /><td>10 - 25 år</td></tr><tr><td /><td>Tekniske anlæg og maskiner</td><td /><td /><td>5 år</td></tr><tr><td /><td>Andre anlæg, driftsmateriel og inventar</td><td /><td /><td>3 - 5 år</td></tr><tr><td /><td>Biler</td><td /><td /><td>5 - 7 år</td></tr><tr><td /><td>Materielle anlægsaktiver nedskrives til genindvindingsværdi, såfremt denne er lavere end den regnskabs-</td></tr><tr><td /><td>mæssige værdi.</td></tr><tr><td /><td>Fortjeneste og tab ved afhændelse af materielle anlægsaktiver opgøres som forskellen mellem salgsprisen</td></tr><tr><td /><td>med fradrag af salgsomkostninger og den regnskabsmæssige værdi på salgstidspunktet. Fortjeneste eller tab</td></tr><tr><td /><td>indregnes i resultatopgørelsen under afskrivninger på anlægsaktiver.</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 /><td>Property, plant and equipment</td></tr><tr><td /><td>Property, plant and equipment are measured at cost less accumulated depreciation and impairment losses. Cost price comprises the</td></tr><tr><td /><td>acquisition price, costs directly attributable to the acquisition, and the cost of preparing the asset until the time when it is ready to be put into</td></tr><tr><td /><td>operation. Expenses paid with a view to improving the Company's properties in relation to their standard at the time of acquisition are</td></tr><tr><td /><td>capitalised and depreciated as additions to the acquisition price of such properties. No depreciations are made on land.</td></tr><tr><td /><td>The basis of depreciation is cost price less estimated residual value after the end of useful life. Straight-line depreciation is made on the basis</td></tr><tr><td /><td>of the following estimated useful lives of the assets.</td></tr><tr><td /><td>Properties</td><td /><td /><td>up to 50 years</td></tr><tr><td /><td>Property equipment</td><td /><td /><td>10 - 25 years</td></tr><tr><td /><td>Plant and machinery</td><td /><td /><td>5 years</td></tr><tr><td /><td>Other fixtures and fittings, tools and equipment</td><td /><td /><td>3 - 5 years</td></tr><tr><td /><td>Cars</td><td /><td /><td>5 - 7 years</td></tr><tr><td /><td>Property, plant and equipment are written down to the recoverable amount if this is lower than the carrying amount.</td></tr><tr><td /><td>Profits and losses from the sale of property, plant and equipment are calculated as the difference between the selling price less selling costs</td></tr><tr><td /><td>and the carrying amount at the time of sale. Profits or losses are recognised in the income statement together with depreciation and</td></tr><tr><td /><td>impairment losses.</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 /><td>Varebeholdninger</td></tr><tr><td /><td>Varebeholdninger måles til kostpris, opgjort efter FIFO-metoden, eller nettorealisationsværdi, hvor denne er</td></tr><tr><td /><td>lavere.</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 /><td>Inventories</td></tr><tr><td /><td>Inventories are measured at the lower of cost using the FIFO method and net realisable 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 /><td>Tilgodehavender</td></tr><tr><td /><td>Tilgodehavender er optaget til amortiseret kostpris eller en lavere nettorealisationsværdi, hvilket</td></tr><tr><td /><td>sædvanligvis svarer til pålydende værdi med fradrag af nedskrivning til imødegåelse af tab.</td></tr><tr><td /><td>Nedskrivningerne er foretaget på grundlag af en individuel vurdering af de enkelte tilgodehavender.</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 /><td>Receivables</td></tr><tr><td /><td>Receivables are measured at amortised cost or a lower net realisable value, which usually corresponds to the nominal value less writedowns</td></tr><tr><td /><td>for bad and doubtful debts calculated on the basis of an individual evaluation of the receivables concerned.</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 /><td>Periodeafgrænsningsposter</td></tr><tr><td /><td>Periodeafgrænsningsposter, indregnet under omsætningsaktiver, omfatter forudbetalinger for omkostninger</td></tr><tr><td /><td>vedrørende efterfølgende regnskabsår.</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 /><td>Prepaid expenses</td></tr><tr><td /><td>Prepaid expenses, recognized under current assets,includes prepayments for cost regarding the following financial year.</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 /><td>Igangværende arbejder for fremmed regning</td></tr><tr><td /><td>Igangværende arbejder for fremmed regning optages til salgsværdi opgjort på baggrund af færdiggørelses-</td></tr><tr><td /><td>graden på balancedagen. Færdiggørelsesgraden for entrepriser fastsættes som forholdet mellem omkost-</td></tr><tr><td /><td>ninger afholdt til dato og de til entreprisernes udførelse forventede samlede omkostninger.</td></tr><tr><td /><td>Salgsværdien reduceres med acontofaktureringer samt reservationer mod forventede tab. Aconto-</td></tr><tr><td /><td>faktureringer ud over den udførte andel af kontrakterne opgøres særskilt og opføres som igangværende</td></tr><tr><td /><td>arbejder for fremmed regning under kortfristet gæld.</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 /><td>Contract work in progress</td></tr><tr><td /><td>Contract work in progress is measured at the selling price of the work carried out based on the stage of completion on the balance sheet</td></tr><tr><td /><td>date. The stage of completion for contract work is stated as costs incurred to date in relation to total expected costs.</td></tr><tr><td /><td>The selling price is reduced by invoicing on account and provisions for expected losses. On-account invoices</td></tr><tr><td /><td>in excess of the proportion of the contracts carried out are recognised separately as contract work in</td></tr><tr><td /><td>progress under short-term liabilities.</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 /><td>Egenkapital</td></tr><tr><td /><td>Udbytte indregnes som en gældsforpligtelse på tidspunktet for vedtagelse på generalforsamlingen. Det</td></tr><tr><td /><td>foreslåede udbytte for regnskabsåret vises som en særskilt post under egenkapitalen.</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 /><td>Equity</td></tr><tr><td /><td>Dividend is recognised as a liability at the time of adoption at the general meeting. The proposed dividend for the financial year is disclosed</td></tr><tr><td /><td>as a separate item under equity.</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 /><td>Selskabsskat og udskudt skat</td></tr><tr><td /><td>Aktuelle skatteforpligtelser, henholdsvis tilgodehavende aktuel skat, indregnes i balancen opgjort som</td></tr><tr><td /><td>beregnet skat af periodens skattepligtige indkomst, reguleret for betalt acontoskat.</td></tr><tr><td /><td>Udskudt skat indregnes og måles efter den balanceorienterede gældsmetode af alle midlertidige forskelle</td></tr><tr><td /><td>mellem regnskabsmæssige og skattemæssige værdier af aktiver og forpligtelser. Den skattemæssige værdi af</td></tr><tr><td /><td>aktiverne opgøres med udgangspunkt i den planlagte anvendelse af det enkelte aktiv.</td></tr><tr><td /><td>Udskudte skatteaktiver, herunder skatteværdien af fremførselsberettigede skattemæssige underskud,</td></tr><tr><td /><td>indregnes i balancen med den værdi, hvortil aktivet forventes at kunne realiseres, enten ved modregning i</td></tr><tr><td /><td>udskudte skatteforpligtelser eller som nettoskatteaktiver.</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 /><td>Corporate tax and deferred tax</td></tr><tr><td /><td>The current tax payable or receivable is recognised in the balance sheet, stated as tax calculated on this period's taxable income, adjusted</td></tr><tr><td /><td>for prepaid tax.</td></tr><tr><td /><td>Deferred tax is recognised and measured applying the balance-sheet liability method on all temporary differences between the carrying</td></tr><tr><td /><td>amount and the tax-based value of assets and liabilities. The tax-based value of the assets is calculated based on the planned use of each</td></tr><tr><td /><td>asset.</td></tr><tr><td /><td>Deferred tax assets, including the tax base of tax losses allowed for carry-forward, are recognised in the balance sheet at their estimated</td></tr><tr><td /><td>realisable value, either as a set-off against deferred tax liabilities or as net tax assets.</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 /><td>Gældsforpligtelser</td></tr><tr><td /><td>Øvrige gældsforpligtelser måles til nettorealisationsværdi.</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 /><td>Liabilities and other provisions</td></tr><tr><td /><td>Other liabilities are measured at net realisable 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 /><td>Pengestrømsopgørelsen</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 /><td>Cash flow 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 /><td>Pengestrømsopgørelse er udeladt med henvisning til Årsregnskabsloven § 86 stk. 4.</td></tr><tr><td /><td>Selskabet indgår i pengestrømsopgørelsen for koncernregnskabet for Plant Systems &amp; Services PSS GmbH.</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 /><td>Cash flow statement is omitted referring to Danish Financial Statements Act section 4, paragraph 86.</td></tr><tr><td /><td>The company is part of the cash flow statement in group accounts for Plant Systems &amp; Services PSS GmbH.</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 /><td>Segmentoplysninger</td></tr><tr><td /><td>Der gives segmentoplysninger for nettoomsætningen på forretningssegmenter (primære segment) og</td></tr><tr><td /><td>geografiske markeder (sekundære segment). Segmentoplysningerne følger selskabets regnskabspraksis,</td></tr><tr><td /><td>risici og interne økonomistyring.</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 /><td>Segment information</td></tr><tr><td /><td>Segment information is given for revenue distributed on business segments (primary segment) and geographical areas (secondary segment).</td></tr><tr><td /><td>Segment information follows the Company's accounting policies, risks and internal financial control.</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 /><td>Nøgletal</td></tr><tr><td /><td>Nøgletal er udarbejdet i overensstemmelse med den seneste "Anbefalinger og Nøgletal" fra Den Danske</td></tr><tr><td /><td>Finansanalytikerforening. De i hoved- og nøgletalsoversigten anførte nøgletal er beregnet således</td></tr><tr><td /><td /><td /><td colspan="7">Resultat af primær drift x 100</td></tr><tr><td /><td>Overskudsgrad =</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 /><td>Ratios</td></tr><tr><td /><td>The ratios have been compiled in accordance with the latest ”Anbefalinger &amp; Nøgletal” (Recommendations &amp; Ratios) issued by the</td></tr><tr><td /><td>Danish Society of Financial Analysts.</td></tr><tr><td /><td /><td /><td colspan="7">Profit/loss on ordinary activities x 100</td></tr><tr><td /><td>Profit margin</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="10"></td></tr><tr><td width="4%" ></td><td width="9%" ></td><td width="21%" ></td><td width="12%" ></td><td width="11%" ></td><td width="12%" ></td><td width="4%" ></td><td width="12%" ></td><td width="0%" ></td><td width="15%" colspan="1" align="right" valign="middle" ><b>Noter</b></td></tr><tr><td width="4%" ></td><td width="9%" ></td><td width="21%" ></td><td width="12%" ></td><td width="11%" ></td><td width="12%" ></td><td width="4%" ></td><td width="12%" ></td><td width="0%" ></td><td width="15%" colspan="1" align="right" valign="middle" ><b>Notes</b></td></tr><tr><td colspan="10"></td></tr><tr><td width="100%" colspan="10" align="left" valign="middle" ><b>Note</b></td></tr><tr><td width="100%" colspan="10" align="left" valign="middle" >Note</td></tr><tr><td colspan="10"></td></tr><tr><td width="4%" ></td><td width="69%" colspan="6" align="left" valign="middle" ><b>Nettoomsætning</b></td><td width="12%" align="right" valign="middle" ><b>2021</b></td><td width="0%" ></td><td width="15%" align="right" valign="middle" ><b>2020</b></td></tr><tr><td width="4%" ></td><td width="69%" colspan="6" align="left" valign="middle" ><b>Revenue</b></td><td width="12%" colspan="1" align="right" valign="middle" >DKK '000</td><td width="0%" colspan="1" align="right" valign="middle" ></td><td width="15%" colspan="1" align="right" valign="middle" >DKK '000</td></tr><tr><td colspan="10"></td></tr><tr><td width="4%" ></td><td width="69%" colspan="6" align="left" valign="middle" >Salgsværdi af afsluttede entrepriser</td><td width="12%" align="right" valign="middle" > 206.778 </td><td width="0%" ></td><td width="15%" align="right" valign="middle" > 264.406 </td></tr><tr><td width="4%" ></td><td width="96%" colspan="9" align="left" valign="middle" >Selling price of completed contracts</td></tr><tr><td width="4%" ></td><td width="69%" colspan="6" align="left" valign="middle" >Salgsværdi af igangværende arbejder, ultimo</td><td width="12%" align="right" valign="middle" > 81.137 </td><td width="0%" ></td><td width="15%" align="right" valign="middle" > 40.590 </td></tr><tr><td width="4%" ></td><td width="96%" colspan="9" align="left" valign="middle" >Selling price of work in progress, end of year</td></tr><tr><td width="4%" ></td><td width="69%" colspan="6" align="left" valign="middle" >Salgsværdi af igangværende arbejder, primo</td><td width="12%" align="right" valign="middle" > (40.590)</td><td width="0%" ></td><td width="15%" align="right" valign="middle" > (52.542)</td></tr><tr><td width="4%" ></td><td width="96%" colspan="9" align="left" valign="middle" >Selling price of work in progress, beginning of year</td></tr><tr><td colspan="10"></td></tr><tr><td width="4%" ></td><td width="69%" colspan="6" align="left" valign="middle" >Nettoomsætning i alt</td><td width="12%" align="right" valign="middle" > 247.325 </td><td width="0%" ></td><td width="15%" align="right" valign="middle" > 252.454 </td></tr><tr><td width="4%" ></td><td width="96%" colspan="9" align="left" valign="middle" >Total revenue</td></tr><tr><td colspan="10"></td></tr><tr><td width="4%" ></td><td width="96%" colspan="9" align="left" valign="middle" ><b>Forretningssegmenter</b></td></tr><tr><td width="4%" ></td><td width="96%" colspan="9" align="left" valign="middle" ><b>Business segments</b></td></tr><tr><td colspan="10"></td></tr><tr><td width="4%" ></td><td width="69%" colspan="6" align="left" valign="middle" >Servicearbejder</td><td width="12%" align="right" valign="middle" > 167.679 </td><td width="0%" ></td><td width="15%" align="right" valign="middle" > 146.236 </td></tr><tr><td width="4%" ></td><td width="96%" colspan="9" align="left" valign="middle" >Service activities</td></tr><tr><td width="4%" ></td><td width="69%" colspan="6" align="left" valign="middle" >Anlægsarbejder</td><td width="12%" align="right" valign="middle" > 79.646 </td><td width="0%" ></td><td width="15%" align="right" valign="middle" > 106.218 </td></tr><tr><td width="4%" ></td><td width="96%" colspan="9" align="left" valign="middle" >Projects</td></tr><tr><td colspan="10"></td></tr><tr><td width="4%" ></td><td width="69%" colspan="6" align="left" valign="middle" >Nettoomsætning i alt</td><td width="12%" align="right" valign="middle" > 247.325 </td><td width="0%" ></td><td width="15%" align="right" valign="middle" > 252.454 </td></tr><tr><td width="4%" ></td><td width="96%" colspan="9" align="left" valign="middle" >Total revenue</td></tr><tr><td colspan="10"></td></tr><tr><td width="4%" ></td><td width="96%" colspan="9" align="left" valign="middle" ><b>Geografiske markeder</b></td></tr><tr><td width="4%" ></td><td width="96%" colspan="9" align="left" valign="middle" ><b>Geographical markets</b></td></tr><tr><td colspan="10"></td></tr><tr><td width="4%" ></td><td width="69%" colspan="6" align="left" valign="middle" >Danmark</td><td width="12%" align="right" valign="middle" > 139.013 </td><td width="0%" ></td><td width="15%" align="right" valign="middle" > 165.477 </td></tr><tr><td width="4%" ></td><td width="96%" colspan="9" align="left" valign="middle" >Denmark</td></tr><tr><td width="4%" ></td><td width="69%" colspan="6" align="left" valign="middle" >Udland</td><td width="12%" align="right" valign="middle" > 108.312 </td><td width="0%" ></td><td width="15%" align="right" valign="middle" > 86.977 </td></tr><tr><td width="4%" ></td><td width="96%" colspan="9" align="left" valign="middle" >International activities</td></tr><tr><td colspan="10"></td></tr><tr><td width="4%" ></td><td width="69%" colspan="6" align="left" valign="middle" >Nettoomsætning i alt</td><td width="12%" align="right" valign="middle" > 247.325 </td><td width="0%" ></td><td width="15%" align="right" valign="middle" > 252.454 </td></tr><tr><td width="4%" ></td><td width="96%" colspan="9" align="left" valign="middle" >Total revenue</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="9"></td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" ><b>Andre driftsindtægter</b></td><td width="13%" align="right" valign="middle" ><b>2021</b></td><td width="1%" ></td><td width="12%" align="right" valign="middle" ><b>2020</b></td></tr><tr><td width="10%" ></td><td width="22%" ></td><td width="13%" ></td><td width="12%" ></td><td width="13%" ></td><td width="4%" ></td><td width="13%" colspan="1" align="right" valign="middle" >DKK '000</td><td width="1%" colspan="1" align="right" valign="middle" ></td><td width="12%" colspan="1" align="right" valign="middle" >DKK '000</td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" >Other operating income</td><td width="13%" align="right" valign="middle" > (10)</td><td width="1%" ></td><td width="12%" align="right" valign="middle" > 2.636 </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="10"></td></tr><tr><td width="4%" ></td><td width="69%" colspan="6" align="left" valign="middle" ><b>Personaleomkostninger</b></td><td width="12%" align="right" valign="middle" ><b>2021</b></td><td width="0%" ></td><td width="15%" align="right" valign="middle" ><b>2020</b></td></tr><tr><td width="4%" ></td><td width="69%" colspan="6" align="left" valign="middle" ><b>Staff costs</b></td><td width="12%" colspan="1" align="right" valign="middle" >DKK '000</td><td width="0%" colspan="1" align="right" valign="middle" ></td><td width="15%" colspan="1" align="right" valign="middle" >DKK '000</td></tr><tr><td colspan="10"></td></tr><tr><td width="4%" ></td><td width="69%" colspan="6" align="left" valign="middle" >Løn og gager</td><td width="12%" align="right" valign="middle" > 104.694 </td><td width="0%" ></td><td width="15%" align="right" valign="middle" > 106.691 </td></tr><tr><td width="4%" ></td><td width="96%" colspan="9" align="left" valign="middle" >Salaries and wages</td></tr><tr><td width="4%" ></td><td width="69%" colspan="6" align="left" valign="middle" >Pensioner og pensionsbidrag</td><td width="12%" align="right" valign="middle" > 8.495 </td><td width="0%" ></td><td width="15%" align="right" valign="middle" > 8.610 </td></tr><tr><td width="4%" ></td><td width="96%" colspan="9" align="left" valign="middle" >Pension contributions</td></tr><tr><td width="4%" ></td><td width="69%" colspan="6" align="left" valign="middle" >Omkostninger til social sikring mv.</td><td width="12%" align="right" valign="middle" > 1.953 </td><td width="0%" ></td><td width="15%" align="right" valign="middle" > 1.459 </td></tr><tr><td width="4%" ></td><td width="96%" colspan="9" align="left" valign="middle" >Social security costs</td></tr><tr><td colspan="10"></td></tr><tr><td width="4%" ></td><td width="69%" colspan="6" align="left" valign="middle" >Personaleomkostninger i alt</td><td width="12%" align="right" valign="middle" > 115.142 </td><td width="0%" ></td><td width="15%" align="right" valign="middle" > 116.760 </td></tr><tr><td width="4%" ></td><td width="96%" colspan="9" align="left" valign="middle" >Staff costs</td></tr><tr><td colspan="10"></td></tr><tr><td width="4%" ></td><td width="69%" colspan="6" align="left" valign="middle" >Det gennemsnitlig antal beskæftigede medarbejdere</td><td width="12%" align="right" valign="middle" > 142 </td><td width="0%" ></td><td width="15%" align="right" valign="middle" > 153 </td></tr><tr><td width="4%" ></td><td width="96%" colspan="9" align="left" valign="middle" >Average number of employees</td></tr><tr><td colspan="10"></td></tr><tr><td width="100%" colspan="10" align="left" valign="middle" ><b>Note</b></td></tr><tr><td width="100%" colspan="10" align="left" valign="middle" >Note</td></tr><tr><td colspan="10"></td></tr><tr><td width="4%" ></td><td width="96%" colspan="9" align="left" valign="middle" >I personaleomkostninger indgår honorar til bestyrelsen med t.kr. 20 (2020 t.kr. 0).</td></tr><tr><td width="4%" ></td><td width="96%" colspan="9" align="left" valign="middle" >In staff costs are included director's fee with DKK 20 thousands (2020 DKK 0 thousands).</td></tr><tr><td colspan="10"></td></tr><tr><td width="4%" ></td><td width="96%" colspan="9" align="left" valign="middle" >Det ene medlem af direktionen er aflønnet via sin ansættelse i det norske søsterselskab og Veltec Industrial</td></tr><tr><td width="4%" ></td><td width="96%" colspan="9" align="left" valign="middle" >Services A/S's andel heraf oplyses således under konsulenthonorar i årsrapporten. Derfor indgår der i</td></tr><tr><td width="4%" ></td><td width="96%" colspan="9" align="left" valign="middle" >personaleomkostningerne alene vederlag til et medlem af direktionen. Oplysning om vederlag til direktionen</td></tr><tr><td width="4%" ></td><td width="96%" colspan="9" align="left" valign="middle" >er derfor udeladt under henvisning til Årsregnskabslovens § 98 b stk. 3.</td></tr><tr><td width="4%" ></td><td width="96%" colspan="9" align="left" valign="middle" >One member of the Executive Board is remunerated via the empoyment in the norwegian affiliated company and Veltec Industrial</td></tr><tr><td width="4%" ></td><td width="96%" colspan="9" align="left" valign="middle" >Services A/S's share of this is incluced under consultancy assistance in the Financial Statement. Therefore is there only included remuneration</td></tr><tr><td width="4%" ></td><td width="96%" colspan="9" align="left" valign="middle" >to one member of the Executive Board in the staff costs. Information about remuneration to the Executive Board is therefore not discolsed</td></tr><tr><td width="4%" ></td><td width="96%" colspan="9" align="left" valign="middle" >according to the Danish Financial Statements Act art. 98 b no. 3.</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="74%" colspan="6" align="left" valign="middle" ><b>Afskrivninger på anlægsaktiver</b></td><td width="13%" align="right" valign="middle" ><b>2021</b></td><td width="1%" ></td><td width="12%" align="right" valign="middle" ><b>2020</b></td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" ><b>Depreciation</b></td><td width="13%" colspan="1" align="right" valign="middle" >DKK '000</td><td width="1%" colspan="1" align="right" valign="middle" ></td><td width="12%" colspan="1" align="right" valign="middle" >DKK '000</td></tr><tr><td colspan="9"></td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" >Grunde og bygninger</td><td width="13%" align="right" valign="middle" > 386 </td><td width="1%" ></td><td width="12%" align="right" valign="middle" > 407 </td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Land and buildings</td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" >Andre anlæg, driftsmateriel og inventar</td><td width="13%" align="right" valign="middle" > 1.506 </td><td width="1%" ></td><td width="12%" align="right" valign="middle" > 1.778 </td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Other fixtures and fittings, tools and equipment</td></tr><tr><td colspan="9"></td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" >Afskrivninger i alt</td><td width="13%" align="right" valign="middle" > 1.867 </td><td width="1%" ></td><td width="12%" align="right" valign="middle" > 2.179 </td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Total depreciation</td></tr><tr><td colspan="9"></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="74%" colspan="6" align="left" valign="middle" ><b>Finansielle indtægter og omkostninger</b></td><td width="13%" align="right" valign="middle" ><b>2021</b></td><td width="1%" ></td><td width="12%" align="right" valign="middle" ><b>2020</b></td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" ><b>Net financials</b></td><td width="13%" colspan="1" align="right" valign="middle" >DKK '000</td><td width="1%" colspan="1" align="right" valign="middle" ></td><td width="12%" colspan="1" align="right" valign="middle" >DKK '000</td></tr><tr><td colspan="9"></td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" >Renteindtægter</td><td width="13%" align="right" valign="middle" > 227 </td><td width="1%" ></td><td width="12%" align="right" valign="middle" > 210 </td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Interest income</td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" >Valutakursgevinster, netto</td><td width="13%" align="right" valign="middle" > 8.763 </td><td width="1%" ></td><td width="12%" align="right" valign="middle" > - </td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Foreign exchange gains, net</td></tr><tr><td colspan="9"></td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" >Finansielle indtægter i alt</td><td width="13%" align="right" valign="middle" > 8.990 </td><td width="1%" ></td><td width="12%" align="right" valign="middle" > 210 </td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Total financial income</td></tr><tr><td colspan="9"></td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" >Heraf vedrørende tilknyttede virksomheder</td><td width="13%" align="right" valign="middle" > 227 </td><td width="1%" ></td><td width="12%" align="right" valign="middle" > 209 </td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Of this related to group enterprises</td></tr><tr><td colspan="9"></td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" >Renteomkostninger</td><td width="13%" align="right" valign="middle" > (890)</td><td width="1%" ></td><td width="12%" align="right" valign="middle" > (478)</td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Interest expenses</td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" >Valutakurstab, netto</td><td width="13%" align="right" valign="middle" > (5.119)</td><td width="1%" ></td><td width="12%" align="right" valign="middle" > (2.208)</td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Foreign exchange losses, net</td></tr><tr><td colspan="9"></td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" >Finansielle omkostninger i alt</td><td width="13%" align="right" valign="middle" > (6.009)</td><td width="1%" ></td><td width="12%" align="right" valign="middle" > (2.686)</td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Total financial expenses</td></tr><tr><td colspan="9"></td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" >Heraf vedrørende tilknyttede virksomheder</td><td width="13%" align="right" valign="middle" > 364 </td><td width="1%" ></td><td width="12%" align="right" valign="middle" > 370 </td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Of this related to group enterprises</td></tr><tr><td colspan="9"></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="10"></td></tr><tr><td width="100%" colspan="10" align="left" valign="middle" ><b>Note</b></td></tr><tr><td width="100%" colspan="10" align="left" valign="middle" >Note</td></tr><tr><td colspan="10"></td></tr><tr><td width="4%" ></td><td width="69%" colspan="6" align="left" valign="middle" ><b>Skat af årets resultat</b></td><td width="12%" align="right" valign="middle" ><b>2021</b></td><td width="0%" ></td><td width="15%" align="right" valign="middle" ><b>2020</b></td></tr><tr><td width="4%" ></td><td width="69%" colspan="6" align="left" valign="middle" ><b>Tax for the year</b></td><td width="12%" colspan="1" align="right" valign="middle" >DKK '000</td><td width="0%" colspan="1" align="right" valign="middle" ></td><td width="15%" colspan="1" align="right" valign="middle" >DKK '000</td></tr><tr><td colspan="10"></td></tr><tr><td width="4%" ></td><td width="69%" colspan="6" align="left" valign="middle" >Årets aktuelle skat</td><td width="12%" align="right" valign="middle" > (2.962)</td><td width="0%" ></td><td width="15%" align="right" valign="middle" > (7.798)</td></tr><tr><td colspan="10"></td></tr><tr><td width="4%" ></td><td width="69%" colspan="6" align="left" valign="middle" >Current tax for the year Ændring i udskudt skat</td><td width="12%" align="right" valign="middle" > - </td><td width="0%" ></td><td width="15%" align="right" valign="middle" > 5.965 </td></tr><tr><td width="4%" ></td><td width="96%" colspan="9" align="left" valign="middle" >Change in deferred tax</td></tr><tr><td width="4%" ></td><td width="69%" colspan="6" align="left" valign="middle" >Skatteregulering vedrørende tidligere år</td><td width="12%" align="right" valign="middle" > (36)</td><td width="0%" ></td><td width="15%" align="right" valign="middle" > (2.276)</td></tr><tr><td width="4%" ></td><td width="96%" colspan="9" align="left" valign="middle" >Tax previous years</td></tr><tr><td colspan="10"></td></tr><tr><td width="4%" ></td><td width="69%" colspan="6" align="left" valign="middle" >Skat af årets resultat i alt</td><td width="12%" align="right" valign="middle" > (2.998)</td><td width="0%" ></td><td width="15%" align="right" valign="middle" > (4.109)</td></tr><tr><td width="4%" ></td><td width="96%" colspan="9" align="left" valign="middle" >Total tax for the year</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 /><td>Forslag til resultatdisponering</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="9"></td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" ><b>Materielle anlægsaktiver</b></td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" ><b>Property, plant and equipment</b></td></tr><tr><td width="10%" ></td><td width="22%" ></td><td width="13%" ></td><td width="12%" ></td><td width="13%" colspan="1" align="right" valign="middle" ><b>Tekniske</b></td><td width="4%" colspan="1" align="right" valign="middle" ><b></b></td><td width="13%" colspan="1" align="right" valign="middle" ><b>Andre anlæg,</b></td><td width="1%" colspan="1" align="right" valign="middle" ><b></b></td><td width="12%" colspan="1" align="right" valign="middle" ><b>Materielle</b></td></tr><tr><td width="10%" ></td><td width="22%" ></td><td width="13%" ></td><td width="12%" colspan="1" align="right" valign="middle" ><b>Grunde og</b></td><td width="13%" colspan="1" align="right" valign="middle" ><b>anlæg og</b></td><td width="4%" colspan="1" align="right" valign="middle" ><b></b></td><td width="13%" colspan="1" align="right" valign="middle" ><b>driftsmateriel</b></td><td width="1%" colspan="1" align="right" valign="middle" ><b></b></td><td width="12%" colspan="1" align="right" valign="middle" ><b>anlægs-</b></td></tr><tr><td width="10%" ></td><td width="22%" ></td><td width="13%" ></td><td width="12%" colspan="1" align="right" valign="middle" ><b>bygninger</b></td><td width="13%" colspan="1" align="right" valign="middle" ><b>maskiner</b></td><td width="4%" colspan="1" align="right" valign="middle" ><b></b></td><td width="13%" colspan="1" align="right" valign="middle" ><b>og inventar</b></td><td width="1%" colspan="1" align="right" valign="middle" ><b></b></td><td width="12%" colspan="1" align="right" valign="middle" ><b>aktiver,i alt</b></td></tr><tr><td width="10%" ></td><td width="22%" ></td><td width="13%" ></td><td width="12%" colspan="1" align="right" valign="middle" ><b>Land and</b></td><td width="13%" colspan="1" align="right" valign="middle" ><b>Plant and</b></td><td width="4%" colspan="1" align="right" valign="middle" ><b></b></td><td width="13%" colspan="1" align="right" valign="middle" ><b>Other fixtures and</b></td><td width="1%" colspan="1" align="right" valign="middle" ><b></b></td><td width="12%" colspan="1" align="right" valign="middle" ><b>Property, plant</b></td></tr><tr><td width="10%" ></td><td width="22%" ></td><td width="13%" ></td><td width="12%" colspan="1" align="right" valign="middle" ><b>buildings</b></td><td width="13%" colspan="1" align="right" valign="middle" ><b>machinery</b></td><td width="4%" colspan="1" align="right" valign="middle" ><b></b></td><td width="13%" colspan="1" align="right" valign="middle" ><b>fittings, tools</b></td><td width="1%" colspan="1" align="right" valign="middle" ><b></b></td><td width="12%" colspan="1" align="right" valign="middle" ><b>and equipment</b></td></tr><tr><td width="10%" ></td><td width="22%" ></td><td width="13%" ></td><td width="12%" ></td><td width="13%" ></td><td width="4%" ></td><td width="13%" colspan="1" align="right" valign="middle" ><b>and equipment</b></td><td width="1%" colspan="1" align="right" valign="middle" ><b></b></td><td width="12%" colspan="1" align="right" valign="middle" ><b>total</b></td></tr><tr><td width="10%" ></td><td width="22%" ></td><td width="13%" ></td><td width="12%" colspan="1" align="right" valign="middle" >DKK '000</td><td width="13%" colspan="1" align="right" valign="middle" >DKK '000</td><td width="4%" colspan="1" align="right" valign="middle" ></td><td width="13%" colspan="1" align="right" valign="middle" >DKK '000</td><td width="1%" colspan="1" align="right" valign="middle" ></td><td width="12%" colspan="1" align="right" valign="middle" >DKK '000</td></tr><tr><td colspan="9"></td></tr><tr><td width="45%" colspan="3" align="left" valign="middle" >Kostpris 1/1 2021</td><td width="12%" align="right" valign="middle" >18.001</td><td width="13%" align="right" valign="middle" > 336 </td><td width="4%" ></td><td width="13%" align="right" valign="middle" > 31.211 </td><td width="1%" ></td><td width="12%" align="right" valign="middle" > 49.548 </td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Cost as at 1/1 2021</td></tr><tr><td colspan="9"></td></tr><tr><td width="45%" colspan="3" align="left" valign="middle" >Årets tilgang</td><td width="12%" align="right" valign="middle" > 529 </td><td width="13%" align="right" valign="middle" > - </td><td width="4%" ></td><td width="13%" align="right" valign="middle" > 1.816 </td><td width="1%" ></td><td width="12%" align="right" valign="middle" > 2.345 </td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Additions in the year</td></tr><tr><td colspan="9"></td></tr><tr><td width="45%" colspan="3" align="left" valign="middle" >Årets afgang</td><td width="12%" align="right" valign="middle" > - </td><td width="13%" align="right" valign="middle" > - </td><td width="4%" ></td><td width="13%" align="right" valign="middle" > (176)</td><td width="1%" ></td><td width="12%" align="right" valign="middle" > (176)</td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Disposals in the year</td></tr><tr><td colspan="9"></td></tr><tr><td width="45%" colspan="3" align="left" valign="middle" >Kostpris 31/12 2021</td><td width="12%" align="right" valign="middle" > 18.530 </td><td width="13%" align="right" valign="middle" > 336 </td><td width="4%" ></td><td width="13%" align="right" valign="middle" > 32.851 </td><td width="1%" ></td><td width="12%" align="right" valign="middle" > 51.717 </td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Cost as at 31/12 2021</td></tr><tr><td colspan="9"></td></tr><tr><td width="45%" colspan="3" align="left" valign="middle" >Afskrivninger 1/1 2021</td><td width="12%" align="right" valign="middle" > 10.469 </td><td width="13%" align="right" valign="middle" > 336 </td><td width="4%" ></td><td width="13%" align="right" valign="middle" > 29.107 </td><td width="1%" ></td><td width="12%" align="right" valign="middle" > 39.912 </td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Depreciation as at 1/1 2021</td></tr><tr><td colspan="9"></td></tr><tr><td width="45%" colspan="3" align="left" valign="middle" >Årets afskrivninger</td><td width="12%" align="right" valign="middle" > 386 </td><td width="13%" align="right" valign="middle" > - </td><td width="4%" ></td><td width="13%" align="right" valign="middle" > 1.506 </td><td width="1%" ></td><td width="12%" align="right" valign="middle" > 1.892 </td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Depreciation in the year</td></tr><tr><td colspan="9"></td></tr><tr><td width="45%" colspan="3" align="left" valign="middle" >Årets afgang</td><td width="12%" align="right" valign="middle" > - </td><td width="13%" align="right" valign="middle" > - </td><td width="4%" ></td><td width="13%" align="right" valign="middle" > (176)</td><td width="1%" ></td><td width="12%" align="right" valign="middle" > (176)</td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Disposals in the year</td></tr><tr><td colspan="9"></td></tr><tr><td width="45%" colspan="3" align="left" valign="middle" >Afskrivninger 31/12 2021</td><td width="12%" align="right" valign="middle" > 10.855 </td><td width="13%" align="right" valign="middle" > 336 </td><td width="4%" ></td><td width="13%" align="right" valign="middle" > 30.437 </td><td width="1%" ></td><td width="12%" align="right" valign="middle" > 41.628 </td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Depreciation as at 31/12 2021</td></tr><tr><td colspan="9"></td></tr><tr><td width="45%" colspan="3" align="left" valign="middle" >Regnskabsmæssig værdi 31/12 2021</td><td width="12%" align="right" valign="middle" > 7.675 </td><td width="13%" align="right" valign="middle" > - </td><td width="4%" ></td><td width="13%" align="right" valign="middle" > 2.414 </td><td width="1%" ></td><td width="12%" align="right" valign="middle" > 10.089 </td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Booked value as at 31/12 2021</td></tr><tr><td colspan="9"></td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" >Regnskabsmæssig værdi af leasede aktiver 31/12 2021</td><td width="13%" align="right" valign="middle" > 667 </td><td width="1%" ></td><td width="12%" align="right" valign="middle" > 667 </td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Booked value of leased assets 31/12 2021</td></tr><tr><td colspan="9"></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="74%" colspan="6" align="left" valign="middle" ><b>Igangværende arbejder for fremmed regning</b></td><td width="13%" align="right" valign="middle" ><b>2021</b></td><td width="1%" ></td><td width="12%" align="right" valign="middle" ><b>2020</b></td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" ><b>Contract work in progress for third parties</b></td><td width="13%" colspan="1" align="right" valign="middle" >DKK '000</td><td width="1%" colspan="1" align="right" valign="middle" ></td><td width="12%" colspan="1" align="right" valign="middle" >DKK '000</td></tr><tr><td colspan="9"></td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" >Salgsværdi 31/12 2021</td><td width="13%" align="right" valign="middle" > 81.137 </td><td width="1%" ></td><td width="12%" align="right" valign="middle" > 40.590 </td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Selling price as at 31/12 2021</td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" >A conto faktureret</td><td width="13%" align="right" valign="middle" > (86.620)</td><td width="1%" ></td><td width="12%" align="right" valign="middle" > (40.032)</td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >On-account invoices</td></tr><tr><td colspan="9"></td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" >Igangværende arbejder for fremmed regning i alt</td><td width="13%" align="right" valign="middle" > (5.483)</td><td width="1%" ></td><td width="12%" align="right" valign="middle" > 558 </td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Total contract work in progress for third parties</td></tr><tr><td colspan="9"></td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Indregning i balancen</td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Recognition in the balance sheet</td></tr><tr><td colspan="9"></td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" >Tilgodehavender</td><td width="13%" align="right" valign="middle" > 4.975 </td><td width="1%" ></td><td width="12%" align="right" valign="middle" > 4.983 </td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Receivables</td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" >Gæld</td><td width="13%" align="right" valign="middle" > (10.458)</td><td width="1%" ></td><td width="12%" align="right" valign="middle" > (4.425)</td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Liabilities</td></tr><tr><td colspan="9"></td></tr><tr><td width="10%" ></td><td width="22%" ></td><td width="13%" ></td><td width="12%" ></td><td width="13%" ></td><td width="4%" ></td><td width="13%" align="right" valign="middle" > (5.483)</td><td width="1%" ></td><td width="12%" align="right" valign="middle" > 558 </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"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Lån tilknyttede virksomheder</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Loan group enterprises</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 colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Udskudt skat</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Deferred tax</b></td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Udskudt skat vedrører materielle anlægsaktiver samt skattemæssigt underskud.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Selskabets løbende budgetprocedurer viser positive resultater og det forventes derfor at skattemæssigt</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >underskud vil kunne udnyttes i de kommende år.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Deferred tax is related to property, plant and equipment, and tax loss.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The ongoing budget procedure of the company is showing positive results and therefore it is expected to be able to use the tax loss in</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >the years to come.</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="9"></td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" ><b>Anden langfristet gæld</b></td><td width="13%" align="right" valign="middle" ><b>2021</b></td><td width="1%" ></td><td width="12%" align="right" valign="middle" ><b>2020</b></td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" ><b>Other long-term liabilities</b></td><td width="13%" colspan="1" align="right" valign="middle" >DKK '000</td><td width="1%" colspan="1" align="right" valign="middle" ></td><td width="12%" colspan="1" align="right" valign="middle" >DKK '000</td></tr><tr><td colspan="9"></td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" >Langfristet gæld, der forfalder indenfor 1 år</td><td width="13%" align="right" valign="middle" > 207 </td><td width="1%" ></td><td width="12%" align="right" valign="middle" > 11.824 </td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Long-term liabilities, which is due within 1 year</td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" >Langfristet gæld, der forfalder om 1-5 år</td><td width="13%" align="right" valign="middle" > 2.601 </td><td width="1%" ></td><td width="12%" align="right" valign="middle" > - </td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Long-term liabilities, which is due in 1-5 years</td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" >Langfristet gæld, der forfalder efter 5 år</td><td width="13%" align="right" valign="middle" > 8.936 </td><td width="1%" ></td><td width="12%" align="right" valign="middle" > - </td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Long-term liabilities, which is due after 5 years</td></tr><tr><td colspan="9"></td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" >Anden gæld i alt</td><td width="13%" align="right" valign="middle" > 11.744 </td><td width="1%" ></td><td width="12%" align="right" valign="middle" > 11.824 </td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Total other payables</td></tr><tr><td colspan="9"></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"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Gæld tilknyttede virksomheder</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Liabilities group enterprises</td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >I lighed med foregående år er der fra moderselskabet ydet lån til driftsfinansiering.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Similar to previous year the parent company has granted loans to finance oparations.</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 colspan="9"></td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" ><b>Anden gæld</b></td><td width="13%" align="right" valign="middle" ><b>2021</b></td><td width="1%" ></td><td width="12%" align="right" valign="middle" ><b>2020</b></td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" ><b>Other payables</b></td><td width="13%" colspan="1" align="right" valign="middle" >DKK '000</td><td width="1%" colspan="1" align="right" valign="middle" ></td><td width="12%" colspan="1" align="right" valign="middle" >DKK '000</td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" >Løn, overarbejde, bonus og feriepenge</td><td width="13%" align="right" valign="middle" > 4.758 </td><td width="1%" ></td><td width="12%" align="right" valign="middle" > 6.056 </td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Wages, salaries, overtime pay, bonuses and holiday pay</td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" >A-skat og arbejdsmarkedsbidrag</td><td width="13%" align="right" valign="middle" > 4.076 </td><td width="1%" ></td><td width="12%" align="right" valign="middle" > 9.477 </td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Tax deducted at source</td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" >Pensioner og sociale bidrag</td><td width="13%" align="right" valign="middle" > 1.044 </td><td width="1%" ></td><td width="12%" align="right" valign="middle" > 931 </td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Pensions and social contributions</td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" >Moms</td><td width="13%" align="right" valign="middle" > 4.251 </td><td width="1%" ></td><td width="12%" align="right" valign="middle" > 3.744 </td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >VAT</td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" >Øvrige skyldige omkostninger</td><td width="13%" align="right" valign="middle" > 3.881 </td><td width="1%" ></td><td width="12%" align="right" valign="middle" > 8.733 </td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Other expenses due</td></tr><tr><td colspan="9"></td></tr><tr><td width="74%" colspan="6" align="left" valign="middle" >Anden gæld i alt</td><td width="13%" align="right" valign="middle" > 18.010 </td><td width="1%" ></td><td width="12%" align="right" valign="middle" > 28.941 </td></tr><tr><td width="100%" colspan="9" align="left" valign="middle" >Total other payables</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"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Eventual- og øvrige forpligtelser</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Contingent liabilities and other liabilities</b></td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Selskabet har indgået leasing- og lejeforpligtelser med en uopsigelighedsperiode op til 45 måneder.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Forpligtelsen udgør ca. t.kr. 387 (2020: 865 tkr.)</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The Company has entered into leasing and rental agreements with a non-terminability period up to 45 months.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The obligation amounts to app. DKK 387 thousands. (2020: DKK 865 thousands)</td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Tryg Garanti og Euler Hermes har stillet arbejdsgaranti i forbindelse med igangværende projekter</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >henholdsvis 18.158 tDKK og 81 tDKK pr. 31. december 2021. (2020: Tryk Garanti og Euler Hermes</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >henholdsvis 13.459 t.DKK og 3.801 t.DKK.)</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Tryk Garanti and Euler Hermes have covered warranty obligations in connection with ongoing projects for DKK 18.158 thousands</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >and DKK 81 thousands as per 31. December 2021 (2020: Tryk Garanti DKK 13.459 thousands and Euler Hermes DKK 3.801 thousands)</td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Garantier for udførte arbejder andrager normalt en periode på 1 til 5 år. Der er ikke hensat til dækning</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >af disse forpligtelser, idet der historisk set har været ganske lave omkostninger i denne forbindelse.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Der er ingen fremtidige forventninger om risici på afleverede projekter.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The warranty period for work carried out is usually between one and five years. There is made no acrual for these obligations, as there</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >in a historical perspective has been very limited costs related to this.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >It is no prospective expectations of risks on executed projects.</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 colspan="2"></td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" ><b>Note</b></td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" >Note</td></tr><tr><td colspan="2"></td></tr><tr><td width="31%" ></td><td width="69%" colspan="1" align="left" valign="middle" ><b>Nærtstående parter</b></td></tr><tr><td width="31%" ></td><td width="69%" colspan="1" align="left" valign="middle" ><b>Related parties</b></td></tr><tr><td colspan="2"></td></tr><tr><td width="31%" ></td><td width="69%" colspan="1" align="left" valign="middle" >Selskabets nærtstående parter omfatter følgende</td></tr><tr><td width="31%" ></td><td width="69%" colspan="1" align="left" valign="middle" >Related parties of the Company includes the following</td></tr><tr><td colspan="2"></td></tr><tr><td width="31%" ></td><td width="69%" colspan="1" align="left" valign="middle" ><b>Bestemmende indflydelse</b></td></tr><tr><td width="31%" ></td><td width="69%" colspan="1" align="left" valign="middle" ><b>Controlling influence</b></td></tr><tr><td colspan="2"></td></tr><tr><td width="31%" ></td><td width="69%" colspan="1" align="left" valign="middle" >Veltec NORDIC Holding GmbH, Bochum, Tyskland.</td></tr><tr><td width="31%" ></td><td width="69%" colspan="1" align="left" valign="middle" >Veltec NORDIG Holding GmbH, Bochum, Germany.</td></tr><tr><td colspan="2"></td></tr><tr><td width="31%" ></td><td width="69%" colspan="1" align="left" valign="middle" >Veltec NORDIC Holding GmbH besidder majoriteten af aktiekapitalen i selskabet.</td></tr><tr><td width="31%" ></td><td width="69%" colspan="1" align="left" valign="middle" >Veltec NORDIC Holding GmbH holds the controlling majority af the share capital of the Company.</td></tr><tr><td colspan="2"></td></tr><tr><td width="31%" ></td><td width="69%" colspan="1" align="left" valign="middle" >Veltec NORDIC Holding GmbH indgår i koncernregnskabet for Plant Systems & Services PSS GmbH, Bochum,</td></tr><tr><td width="31%" ></td><td width="69%" colspan="1" align="left" valign="middle" >som er den mindste og største koncern, hvori virksomheden indgår som dattervirksomhed.</td></tr><tr><td width="31%" ></td><td width="69%" colspan="1" align="left" valign="middle" >Veltec NORDIC Holding GmbH is part of the group accounts for Plant Systems & Services PSS GmbH, Bochum, being the smallest and</td></tr><tr><td width="31%" ></td><td width="69%" colspan="1" align="left" valign="middle" >largest group where the company is part as a subsidiary.</td></tr><tr><td colspan="2"></td></tr><tr><td width="31%" ></td><td width="69%" colspan="1" align="left" valign="middle" >Koncernregnskab for Plant Systems & Services PSS GmbH kan rekvireres ved henvendelse til virksomheden.</td></tr><tr><td width="31%" ></td><td width="69%" colspan="1" align="left" valign="middle" >Group accounts for Plant Systems & Services PSS GmbH can be ordered on application to the company.</td></tr><tr><td colspan="2"></td></tr><tr><td width="31%" ></td><td width="69%" colspan="1" align="left" valign="middle" >Tilgodehavender og gæld til tilknyttede virksomheder fremgår af balancen/note 14 og renter fremgår af note 6.</td></tr><tr><td width="31%" ></td><td width="69%" colspan="1" align="left" valign="middle" >Receivables from and payables to affiliated are disclosed in the balance sheet/note 14 and expensed interest is disclosed in note 6.</td></tr><tr><td colspan="2"></td></tr></table> 89966310 2022-03-23 Gert Nielsen Veltec Industrial Services A/S Odinsvej 33-35 DK-4100 Ringsted 57666000 57619505 www.veltec.com denmark@veltec.com 1982-01-01 Ringsted Skandinaviska Enskilda Banken (SEB) Bernstorffsgade 50 1577 København V <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 /><td>Ledelsespåtegning</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 /><td>Statement by the Supervisory and Executive Boards</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>Bestyrelse og direktion har dags dato behandlet og godkendt årsrapporten for regnskabsåret 1. januar</td><td>–</td></tr><tr><td colspan="2">31. december 2021 for Veltec Industrial Services 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 Executive and Supervisory Boards have today discussed and approved the annual report of Veltec Industrial Services A/S for the financial year</td></tr><tr><td colspan="1">1 January – 31 December 2021.</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">Årsrapporten er aflagt i overensstemmelse med årsregnskabsloven.</td></tr><tr><td colspan="1">Det er vores opfattelse, at årsrapporten giver et retvisende billede af selskabets aktiver, passiver og</td></tr><tr><td colspan="1">finansielle stilling pr. 31. december 2021 samt af resultatet af selskabets aktiviteter og pengestrømme for</td></tr><tr><td colspan="1">regnskabsåret 1. januar – 31. december 2021.</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><tr><td colspan="1">It is our opinion that the annual report gives a true and fair view of the Company's financial position at 31 December 2021 and of the results of the</td></tr><tr><td colspan="1">Company's operations and cash flows for the financial year 1 January – 31 December 2021.</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">Det er endvidere vores opfattelse, at ledelsesberetningen indeholder en retvisende redegørelse for</td></tr><tr><td colspan="1">udviklingen i selskabets aktiviteter og økonomiske forhold, årets resultat og af selskabets finansielle stilling.</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">Further, in our opinion, the Management's review gives a fair review of the development in the Company's operations and financial matters and the</td></tr><tr><td colspan="1">results of the Company's operations and its 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">Årsrapporten indstilles til generalforsamlingens godkendelse.</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 approved at the Annual General Meeting.</td></tr></table> Ringsted Ringsted, 11th March, 2022 2022-03-11 <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">Den uafhængige revisors revisionspåtegning</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">Independent auditors' 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">Til kapitalejeren i Veltec Industrial Services 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">To the shareholder of Veltec Industrial Services 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">Konklusion</td></tr><tr><td colspan="1">Vi har revideret årsregnskabet for Veltec Industrial Services A/S for regnskabsåret 1. januar - 31. december</td></tr><tr><td colspan="1">2021, der omfatter resultatopgørelse, balance, egenkapitalopgørelse og noter, herunder anvendt</td></tr><tr><td colspan="1">regnskabspraksis. Årsregnskabet udarbejdes efter årsregnskabsloven.</td></tr><tr><td colspan="1">Det er vores opfattelse, at årsregnskabet giver et retvisende billede af virksomhedens aktiver, passiver og</td></tr><tr><td colspan="1">finansielle stilling pr. 31. december 2021 samt af resultatet af virksomhedens aktiviteter for regnskabsåret 1.</td></tr><tr><td colspan="1">januar - 31. december 2021 i overensstemmelse med årsregnskabsloven.</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">We have audited the financial statements of Veltec Industrial Services A/S for the financial year 1 January - 31 December 2021 comprising income</td></tr><tr><td colspan="1">statement, balance sheet, statement of changes in equity and notes, including accounting policies. The financial statements are prepared in</td></tr><tr><td colspan="1">accordance with the Danish Financial Statements Act</td></tr><tr><td colspan="1">In our opinion, the financial statements give a true and fair view of the Company's assets, liabilities and financial position at 31 December 2021 and</td></tr><tr><td colspan="1">of the results of the Company's operations for the financial year 1 January - 31 December 2021 in accordance with the Danish Financial Statements</td></tr><tr><td colspan="1">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">Grundlag for konklusion</td></tr><tr><td colspan="1">Vi har udført vores revision i overensstemmelse med internationale standarder om revision og de yderligere</td></tr><tr><td colspan="1">krav, der er gældende i Danmark. Vores ansvar ifølge disse standarder og krav er nærmere beskrevet i</td></tr><tr><td colspan="1">revisionspåtegningens afsnit "Revisors ansvar for revisionen af årsregnskabet". Vi er uafhængige af</td></tr><tr><td colspan="1">virksomheden i overensstemmelse med internationale etiske regler for revisorer (IESBA's Etiske regler) og</td></tr><tr><td colspan="1">de yderligere krav, der er gældende i Danmark, ligesom vi har opfyldt vores øvrige etiske forpligtelser i</td></tr><tr><td colspan="1">henhold til disse regler og krav. Det er vores opfattelse, at det opnåede revisionsbevis er tilstrækkeligt og</td></tr><tr><td colspan="1">egnet som grundlag for vores konklusion.</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="2">Basis for opinion</td></tr><tr><td colspan="2">We conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional requirements applicable in Denmark. Our</td></tr><tr><td colspan="2">responsibilities under those standards and requirements are further described in the "Auditor's responsibilities for the audit of the financial</td></tr><tr><td colspan="2">statements" section of our report. We are independent of the Company in accordance with the International Ethics Standards Board for Accountants'</td></tr><tr><td colspan="2">Code of Ethics for Professional Accountants (IESBA Code) and the additional requirements applicable in Denmark, and we have fulfilled our other</td></tr><tr><td>ethical responsibilities in accordance with these rules and requirements. We believe that the audit evidence we have obtained</td><td>is sufficient and</td></tr><tr><td colspan="2">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">Ledelsens ansvar for årsregnskabet</td></tr><tr><td colspan="1">Ledelsen har ansvaret for udarbejdelsen af et årsregnskab, der giver et retvisende billede i overensstemmelse</td></tr><tr><td colspan="1">med årsregnskabsloven. Ledelsen har endvidere ansvaret for den interne kontrol, som ledelsen anser for</td></tr><tr><td colspan="1">nødvendig for at udarbejde et årsregnskab uden væsentlig fejlinformation, uanset om denne skyldes</td></tr><tr><td colspan="1">besvigelser eller fejl.</td></tr><tr><td colspan="1">Ved udarbejdelsen af årsregnskabet er ledelsen ansvarlig for at vurdere virksomhedens evne til at fortsætte</td></tr><tr><td colspan="1">driften; at oplyse om forhold vedrørende fortsat drift, hvor dette er relevant; samt at udarbejde årsregnskabet</td></tr><tr><td colspan="1">på grundlag af regnskabsprincippet om fortsat drift, medmindre ledelsen enten har til hensigt at likvidere</td></tr><tr><td colspan="1">virksomheden, indstille driften eller ikke har andet realistisk alternativ end at gøre dette.</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 responsibility 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</td></tr><tr><td colspan="1">Statements Act and for such internal control that Management determines is necessary to enable the preparation of financial statements that are free</td></tr><tr><td colspan="1">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</td></tr><tr><td colspan="1">applicable, matters related to going concern and using the going concern basis of accounting in preparing the financial statements unless</td></tr><tr><td colspan="1">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="2">Revisors ansvar for revisionen af årsregnskabet</td></tr><tr><td colspan="2">Vores mål er at opnå høj grad af sikkerhed for, om årsregnskabet som helhed er uden væsentlig</td></tr><tr><td colspan="2">fejlinformation, uanset om denne skyldes besvigelser eller fejl, og at afgive en revisionspåtegning med en</td></tr><tr><td colspan="2">konklusion. Høj grad af sikkerhed er et højt niveau af sikkerhed, men er ikke en garanti for, at en revision,</td></tr><tr><td colspan="2">der udføres i overensstemmelse med internationale standarder om revision og de yderligere krav, der er</td></tr><tr><td colspan="2">gældende i Danmark, altid vil afdække væsentlig fejlinformation, når sådan findes. Fejlinformationer kan</td></tr><tr><td colspan="2">opstå som følge af besvigelser eller fejl og kan betragtes som væsentlige, hvis det med rimelighed kan</td></tr><tr><td colspan="2">forventes, at de enkeltvis eller samlet har indflydelse på de økonomiske beslutninger, som regnskabsbrugerne</td></tr><tr><td colspan="2">træffer på grundlag af årsregnskabet.</td></tr><tr><td colspan="2">Som led i en revision, der udføres i overensstemmelse med internationale standarder om revision og de</td></tr><tr><td colspan="2">yderligere krav, der er gældende i Danmark, foretager vi faglige vurderinger og opretholder professionel</td></tr><tr><td colspan="2">skepsis under revisionen. Herudover</td></tr><tr><td>•</td><td>identificerer og vurderer vi risikoen for væsentlig fejlinformation i årsregnskabet, uanset om denne</td></tr><tr><td /><td>skyldes besvigelser eller fejl, udformer og udfører revisionshandlinger som reaktion på disse risici</td></tr><tr><td /><td>samt opnår revisionsbevis, der er tilstrækkeligt og egnet til at danne grundlag for vores konklusion.</td></tr><tr><td /><td>Risikoen for ikke at opdage væsentlig fejlinformation forårsaget af besvigelser er højere end ved</td></tr><tr><td /><td>væsentlig fejlinformation forårsaget af fejl, idet besvigelser kan omfatte sammensværgelser,</td></tr><tr><td /><td>dokumentfalsk, bevidste udeladelser, vildledning eller tilsidesættelse af intern kontrol.</td></tr><tr><td>•</td><td>opnår vi forståelse af den interne kontrol med relevans for revisionen for at kunne udforme</td></tr><tr><td /><td>revisionshandlinger, der er passende efter omstændighederne, men ikke for at kunne udtrykke en</td></tr><tr><td /><td>konklusion om effektiviteten af virksomhedens interne kontrol.</td></tr><tr><td>•</td><td>tager vi stilling til, om den regnskabspraksis, som er anvendt af ledelsen, er passende, samt om de</td></tr><tr><td /><td>regnskabsmæssige skøn og tilknyttede oplysninger, som ledelsen har udarbejdet, er rimelige.</td></tr><tr><td>•</td><td>konkluderer vi, om ledelsens udarbejdelse af årsregnskabet på grundlag af regnskabsprincippet om</td></tr><tr><td /><td>fortsat drift er passende, samt om der på grundlag af det opnåede revisionsbevis er væsentlig</td></tr><tr><td /><td>usikkerhed forbundet med begivenheder eller forhold, der kan skabe betydelig tvivl om</td></tr><tr><td /><td>virksomhedens evne til at fortsætte driften. Hvis vi konkluderer, at der er en væsentlig usikkerhed,</td></tr><tr><td /><td>skal vi i vores revisionspåtegning gøre opmærksom på oplysninger herom i årsregnskabet eller, hvis</td></tr><tr><td /><td>sådanne oplysninger ikke er tilstrækkelige, modificere vores konklusion. Vores konklusioner er</td></tr><tr><td /><td>baseret på det revisionsbevis, der er opnået frem til datoen for vores revisionspåtegning. Fremtidige</td></tr><tr><td /><td>begivenheder eller forhold kan dog medføre, at virksomheden ikke længere kan fortsætte driften.</td></tr><tr><td>•</td><td>tager vi stilling til den samlede præsentation, struktur og indhold af årsregnskabet, herunder</td></tr><tr><td /><td>noteoplysningerne, samt om årsregnskabet afspejler de underliggende transaktioner og begivenheder</td></tr><tr><td /><td>på en sådan måde, at der gives et retvisende billede heraf.</td></tr><tr><td colspan="2">Vi kommunikerer med den øverste ledelse om bl.a. det planlagte omfang og den tidsmæssige placering af</td></tr><tr><td colspan="2">revisionen samt betydelige revisionsmæssige observationer, herunder eventuelle betydelige mangler i intern</td></tr><tr><td colspan="2">kontrol, som vi identificerer under revisionen.</td></tr><tr><td colspan="2">•</td></tr><tr><td colspan="2">•</td></tr><tr><td colspan="2">•</td></tr><tr><td colspan="2">•</td></tr><tr><td colspan="2">•</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="4">Auditors’ responsibility for the audit of the financial statements</td></tr><tr><td colspan="4">Our objectives are to obtain reasonable assurance as to whether the financial statements as a whole are free from material misstatement, whether</td></tr><tr><td colspan="4">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</td></tr><tr><td colspan="4">guarantee that an audit conducted in accordance with ISAs and the additional requirements in Denmark will always detect a material misstatement</td></tr><tr><td colspan="4">when it exists. Misstatements may arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be</td></tr><tr><td colspan="4">expected to influence the economic decisions of users made on the basis of these financial statements.</td></tr><tr><td colspan="4">As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgement</td></tr><tr><td colspan="4">and maintain professional skepticism throughout the audit. We also</td></tr><tr><td /><td>identify and assess the risks of material misstatement of the company financial statements, whether due to fraud or error, design and</td></tr><tr><td /><td>perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our</td></tr><tr><td /><td>opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error as fraud may</td></tr><tr><td /><td>involve collusion, forgery, intentional omissions, misrepresentations or the override of internal control.</td></tr><tr><td /><td>obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in</td><td /><td>the</td></tr><tr><td /><td>circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control.</td></tr><tr><td /><td>evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by</td></tr><tr><td /><td>Management.</td></tr><tr><td /><td>conclude on the appropriateness of Management's use of the going concern basis of accounting in preparing the financial statements and,</td></tr><tr><td /><td>based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt</td></tr><tr><td /><td>on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw</td></tr><tr><td /><td>attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our</td></tr><tr><td /><td>opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or</td></tr><tr><td /><td>conditions may cause the Company to cease to continue as a going concern.</td></tr><tr><td /><td>evaluate the overall presentation, structure and contents of the financial statements, including the disclosures, and whether the financial</td></tr><tr><td /><td>statements represent the underlying transactions and events in a manner that gives a true and fair view.</td></tr><tr><td colspan="4">We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant</td></tr><tr><td colspan="4">audit findings, including any significant deficiencies in internal control that we identify during our audit.</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">Udtalelse om ledelsesberetningen</td></tr><tr><td colspan="1">Ledelsen er ansvarlig for ledelsesberetningen.</td></tr><tr><td colspan="1">Vores konklusion om årsregnskabet omfatter ikke ledelsesberetningen, og vi udtrykker ingen form for</td></tr><tr><td colspan="1">konklusion med sikkerhed om ledelsesberetningen.</td></tr><tr><td colspan="1">I tilknytning til vores revision af årsregnskabet er det vores ansvar at læse ledelsesberetningen og i den</td></tr><tr><td colspan="1">forbindelse overveje, om ledelsesberetningen er væsentligt inkonsistent med årsregnskabet eller vores viden</td></tr><tr><td colspan="1">opnået ved revisionen eller på anden måde synes at indeholde væsentlig fejlinformation.</td></tr><tr><td colspan="1">Vores ansvar er derudover at overveje, om ledelsesberetningen indeholder krævede oplysninger i henhold til</td></tr><tr><td colspan="1">årsregnskabsloven.</td></tr><tr><td colspan="1">Baseret på det udførte arbejde er det vores opfattelse, at ledelsesberetningen er i overensstemmelse med</td></tr><tr><td colspan="1">årsregnskabet og er udarbejdet i overensstemmelse med årsregnskabslovens krav. Vi har ikke fundet</td></tr><tr><td colspan="1">væsentlig fejlinformation i ledelsesberetningen.</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">Statement on the Management’s review</td></tr><tr><td colspan="1">Management is responsible for the Management's review.</td></tr><tr><td colspan="1">Our opinion on the financial statements does not cover the Management's review, and we do not express any form of assurance conclusion thereon.</td></tr><tr><td colspan="1">In connection with our audit of the financial statements, our responsibility is to read the Management's review and, in doing so, consider whether the</td></tr><tr><td colspan="1">Management's review is materially inconsistent with the financial statements or our knowledge obtained during the audit, or otherwise appears to be</td></tr><tr><td colspan="1">materially misstated.</td></tr><tr><td colspan="1">Moreover, it is our responsibility to consider whether the Management's review provides the information required under the Danish Financial</td></tr><tr><td colspan="1">Statements Act.</td></tr></table> København Copenhagen, 11th. March, 2022 2022-03-11 <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">Hovedaktivitet</td></tr><tr><td colspan="1">Selskabets ydelser og produkter er primært rettet mod raffinaderier, kraftværker, petrokemisk industri samt</td></tr><tr><td colspan="1">anden industri i Skandinavien og Storbritannien. Selskabet har fast driftssted i Norge og Sverige.</td></tr><tr><td colspan="1">Selskabet har specialiseret sig i at udføre mekaniske anlægs- og vedligeholdelsesopgaver, herunder shutdown</td></tr><tr><td colspan="1">opgaver, på produktions- og processinstallationer samt rør- og tankanlæg m.v.</td></tr><tr><td colspan="1">Endelig har selskabet en afdeling som udfører service og renovering af pumper og ventiler.</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">Primary activities</td></tr><tr><td colspan="1">The services and products of the Company are primarily focused on refineries, powerplants, petrochemical and other industries in Scandinavia and</td></tr><tr><td colspan="1">the United Kingdom. The company has permanent establishment in Norway and Sweden.</td></tr><tr><td colspan="1">The Company is specialised in executing mechanical installation- and maintenanceoperations, including shut-downs, on production- and</td></tr><tr><td colspan="1">processinstallations, as well as pipe- and tankfarms etc.</td></tr><tr><td colspan="1">Finally, the Company includes a department that maintains and provide services to pumps and valves.</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="2">Udviklingen i aktiviteter og økonomiske forhold</td></tr><tr><td colspan="2">Årets resultat før skat udgør 13,3 mio. kr., (2020: 8,2 mio. kr.). Omsætningen udgør 247,3 mio. kr. (2020</td></tr><tr><td colspan="2">252,1 mio. kr.).</td></tr><tr><td colspan="2">Året har i mindre grad været negativt påvirket af Covid-19 idet ordre er blevet udskudt. Til trods for dette</td></tr><tr><td colspan="2">leverer selskabet et tilfredsstillende resultat.</td></tr><tr><td colspan="2">Årets resultat anses for tilfredsstillende af ledelsen.</td></tr><tr><td colspan="2">Nye ydelser og produkter</td></tr><tr><td colspan="2">Selskabet udvikler løbende sine ydelser og produkter ved anvendelse af nye metoder og teknologier.</td></tr><tr><td>Selskabets omkostninger til udvikling af nye metoder og teknologier udgiftsføres</td><td>løbende, idet den</td></tr><tr><td colspan="2">fremtidige indtjening heraf er relativ usikker.</td></tr><tr><td colspan="2">Investeringer</td></tr><tr><td colspan="2">Selskabet har ikke i 2021 foretaget væsentlige større enkelte investeringer, men har primært investeret i</td></tr><tr><td colspan="2">opgradering og udskiftning af svejse- og IT-udstyr samt øvrigt materiel.</td></tr><tr><td colspan="2">Kvalitet, arbejdsmiljø og miljø</td></tr><tr><td colspan="2">Selskabets politik for kvalitet, arbejdsmiljø og miljø tager udgangspunkt i en målsætning om lavest mulig</td></tr><tr><td colspan="2">belastning for den enkelte medarbejder og omgivelserne.</td></tr><tr><td colspan="2">Selskabet samarbejder kontinuerligt med kunder og leverandører om at reducere miljø- og</td></tr><tr><td colspan="2">arbejdsmiljøbelastningen. Dette sker bl.a. gennem risikovurderinger af de enkelte job og hyppige</td></tr><tr><td colspan="2">erfaringsudvekslinger og evalueringer mellem ledelse, medarbejdere og kunder i de enkelte projektforløb.</td></tr><tr><td colspan="2">Selskabet besidder en række certificeringer og godkendelser, der kræves for at understøtte kundernes krav og</td></tr><tr><td colspan="2">selskabets konkurrenceevne.</td></tr><tr><td colspan="2">DS/EN ISO 9001:2015 kvalitetsstyringssystem</td></tr><tr><td colspan="2">AT 100 31/01/2007 annex 5 kvalitetssikringscertifikat</td></tr><tr><td colspan="2">DS/EN ISO 3834-2:2006 kvalitetskrav i forbindelse med svejsning</td></tr><tr><td colspan="2">EN 1090-1:2009 + A1:2011 forskrifter for konstruktion</td></tr><tr><td colspan="2">HSE system baseret på principperne i ISO 14001, OHSAS 18001, SCC og Norsok s006</td></tr><tr><td colspan="2">Achilles JQS, ID 22830</td></tr><tr><td colspan="2">Achilles FPAL, ID 89966310</td></tr><tr><td colspan="2">Achilles Utilities NCE, ID 107733</td></tr><tr><td colspan="2">EPIM JQS registered supplier (Equinor)</td></tr><tr><td colspan="2">Ulykkesfrekvens (antal skader pr. 1 million arbejdstimer) i 2021 var 9,0 (13,3 i 2020).</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">Development in activities and finances</td></tr><tr><td colspan="1">Årets resultat</td></tr><tr><td colspan="1">Profit/loss for the year</td></tr><tr><td colspan="1">Profit before tax amounts to DKK 13,3 million (2020: DKK 8,2 million). Revenue amounts to DKK 247,3 million (2020: DKK 252,1 million).</td></tr><tr><td colspan="1">The year has been minor negative affected by Covid-19 due to orders that has been postponed. Despite this the company deliver a satisfying result.</td></tr><tr><td colspan="1">The profit is considered satisfactory by the management.</td></tr><tr><td colspan="1">New services and products</td></tr><tr><td colspan="1">The Company continuously develops its services and products by applying new methods and technologies. The costs incidental to developing new</td></tr><tr><td colspan="1">methods and technologies are expensed on an ongoing basis, as the future income from these activities is relatively uncertain.</td></tr><tr><td colspan="1">Investments</td></tr><tr><td colspan="1">In 2021, the Company did not make major individual investments, but primarily invested in the upgrading and replacement of welding equipment, IT</td></tr><tr><td colspan="1">equipment and other equipment.</td></tr><tr><td colspan="1">Standards, occupational health and environment</td></tr><tr><td colspan="1">Company policy for standards, occupational health and environment is based on ambition to achieve the lowest possible level of risk exposure for</td></tr><tr><td colspan="1">each individual employee and the surroundings.</td></tr><tr><td colspan="1">The Company cooperates on a continuous basis with customers and suppliers to reduce environmental- and the work-related risk exposure. This is</td></tr><tr><td colspan="1">done through assessment of each individual job assignment and frequent exchange of experience and evaluations between management, employees</td></tr><tr><td colspan="1">and customers in each project.</td></tr><tr><td colspan="1">The Company holds several certifications and verifications required for backing up the demands of the customers and the competitive position of the</td></tr><tr><td colspan="1">Company.</td></tr><tr><td colspan="1">The accident frequency (number of injuries per one million working hours) in 2021 was 9,0 (13,3 in 2020).</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">Begivenheder efter regnskabsårets afslutning</td></tr><tr><td colspan="1">Der er fra balancedagen og frem til i dag ikke indtrådt forhold, som forrykker vurderingen af årsrapporten.</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">Events after the balance sheet date</td></tr><tr><td colspan="1">No events have occurred after the balance sheet date to this date which would influence the evaluation of the Annual 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">Forventet udvikling</td></tr><tr><td colspan="1">Det er ledelsens forventning, at markedet i de skandinaviske lande fremover vil være præget af hård</td></tr><tr><td colspan="1">konkurrence. Selskabet vil fortsat styrke sine kerneområder ved investering i udstyr og materiel samt</td></tr><tr><td colspan="1">uddannelse af medarbejdere.</td></tr><tr><td colspan="1">For 2021 forventes en normal aktivitet på niveau med 2020 med et tilsvarende resultat.</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">Outlook</td></tr><tr><td colspan="1">The management expects the Scandinavian market to continue to be characterised by fierce competition. The Company will continue to strengthen its</td></tr><tr><td colspan="1">core areas by investing in equipment and machinery and in the training of employees.</td></tr><tr><td colspan="1">In 2021 the expectation is to be normal on the same level as 2020, and with a corresponding result.</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">Særlige risici</td></tr><tr><td colspan="1">Generelle risici</td></tr><tr><td colspan="1">Selskabets væsentligste driftsrisiko er knyttet til evnen til fortsat at være konkurrencedygtig og stærkt</td></tr><tr><td colspan="1">positioneret på det skandinaviske marked for selskabets kerneydelser og produkter. Endvidere er det</td></tr><tr><td colspan="1">væsentligt for selskabets drift at fastholde og fortsat udvikle selskabets kompetencer ved at tiltrække og</td></tr><tr><td colspan="1">fastholde veluddannet arbejdskraft, såvel ingeniører som teknikere og faglærte medarbejdere.</td></tr><tr><td colspan="1">Finansielle risici</td></tr><tr><td colspan="1">Selskabet er kun begrænset eksponeret over for ændringer i renteniveauet. Selskabet er dog i et vist omfang</td></tr><tr><td colspan="1">eksponeret over for valutarisici, primært i norske kroner, svenske kroner og amerikanske dollars, for så vidt</td></tr><tr><td colspan="1">angår den løbende drift.</td></tr><tr><td colspan="1">Kreditrisici</td></tr><tr><td colspan="1">Selskabets kreditrisici knytter sig primært til finansielle aktiver indregnet i balancen. Selskabet har ikke</td></tr><tr><td colspan="1">væsentlige risici vedrørende en enkelt kunde eller samarbejdspartner. Selskabets kreditpolitik medfører, at</td></tr><tr><td colspan="1">alle større kunder og andre samarbejdspartnere løbende kreditvurderes.</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">Specific risks</td></tr><tr><td colspan="1">General risks</td></tr><tr><td colspan="1">The main risk relates to the Company’s ability to remain competitive and maintain its strong position in the Scandinavian market as regards its core</td></tr><tr><td colspan="1">services and products. Moreover, it is essential for the Company to maintain and develop its competences by attracting and maintaining well-trained</td></tr><tr><td colspan="1">human resources, including both engineers, technicians and skilled workers.</td></tr><tr><td colspan="1">Financial risks</td></tr><tr><td colspan="1">The Company is only to a limited degree exposed to changes in interest rate levels. As regards its current operations, the Company is, however, to a</td></tr><tr><td colspan="1">certain extent, primarily in NOK, SEK and USD, exposed to currency risks.</td></tr><tr><td colspan="1">Credit risks</td></tr><tr><td colspan="1">The Company's credit risks primarily relate to financial assets recognised in the balance sheet. There are no particular risks related to a single</td></tr><tr><td colspan="1">customer or partner. In pursuance of the Company's policy for undertaking credit risks, all major customers and other partners are continuously</td></tr><tr><td colspan="1">credit-rated.</td></tr></table> Årsrapport 20222670 BDO Statsautoriseret Revisionsaktieselskab Kystvejen 29 8000 Aarhus C xWizard version 1.1.1125.0, by EasyX Aps. www.easyx.eu 2020-01-01 2020-12-31 Revisionspåtegning Grundlag for konklusion Konklusion 246900000 6700000 -3200000 2800000 600000 139 0.027 281800000 1000000 -2300000 -1000000 600000 155 0.004 480100000 33700000 -1800000 24800000 600000 169 0.07 252500000 10700000 -2500000 4100000 600000 153 0.042 Resultat før skat 3600000 Resultat før skat -1300000 Resultat før skat 31900000 Resultat før skat 8200000 Resultat før skat 13300000 Materielle anlægsaktiver 12400000 Materielle anlægsaktiver 11300000 Materielle anlægsaktiver 11100000 Materielle anlægsaktiver 9600000 Materielle anlægsaktiver 10100000 Finansielle anlægsaktiver 400000 Finansielle anlægsaktiver 400000 Finansielle anlægsaktiver 100000 Finansielle anlægsaktiver 100000 Finansielle anlægsaktiver 0 Varebeholdninger 200000 Varebeholdninger 400000 Varebeholdninger 400000 Varebeholdninger 400000 Varebeholdninger 400000 Tilgodehavender 53900000 Tilgodehavender 56100000 Tilgodehavender 80000000 Tilgodehavender 53900000 Tilgodehavender 77600000 Likvide beholdninger 11000000 Likvide beholdninger 15800000 Likvide beholdninger 45100000 Likvide beholdninger 58100000 Likvide beholdninger 42000000 Aktiver i alt 77800000 Aktiver i alt 84000000 Aktiver i alt 136700000 Aktiver i alt 122100000 Aktiver i alt 130100000 13100000 12100000 36900000 41000000 51319000 7675000 2414000 10089000 0 0 10089000 400000 26187000 40421000 4975000 4559000 1445000 0 0 77587000 41964000 119951000 130040000 5502000 45817000 1209000 1209000 11744000 11744000 10458000 15538000 19786000 2013000 17973000 65758000 77512000 130040000 Hensatte forpligtelser 100000 Hensatte forpligtelser 400000 Hensatte forpligtelser 900000 Hensatte forpligtelser 1200000 Hensatte forpligtelser 1200000 Langfristet gæld 0 Langfristet gæld 0 Langfristet gæld 5300000 Langfristet gæld 11800000 Langfristet gæld 11700000 Kortfristet gæld 64700000 Kortfristet gæld 71500000 Kortfristet gæld 93600000 Kortfristet gæld 68100000 Kortfristet gæld 65800000 Passiver i alt 77800000 Passiver i alt 84000000 Passiver i alt 136700000 Passiver i alt 122100000 Passiver i alt 130100000 Egenkapitalandel % 0.169 Egenkapitalandel % 0.144 Egenkapitalandel % 0.27 Egenkapitalandel % 0.336 Egenkapitalandel % 0.395 Egenkapitalforrentning % 0.303 Egenkapitalforrentning % -0.117 Egenkapitalforrentning % 1.351 Egenkapitalforrentning % 0.211 Egenkapitalforrentning % 0.288 252454000 102799000 22650000 127005000 2636000 116760000 2179000 210000 2686000 8226000 4109000 4117000 7532000 2104000 9636000 74000 74000 9710000 400000 22957000 20801000 4983000 3981000 1187000 0 0 53909000 58076000 112385000 122095000 5502000 35514000 41016000 1173000 1173000 11824000 11824000 4425000 7390000 20264000 7062000 28941000 68082000 79906000 122095000 10303000 4117000 Ludger-Werner Kramer formand Marianne Lilletveit Gert Nielsen Jens Hansen medarbejdervalgt Claus Lehmann medarbejdervalgt Gert Nielsen administrerende direktør Marianne Lilletveit økonomidirektør BDO Statsautoriseret Revisionsaktieselskab 1561 København V Havneholmen 29 20222670 Ole C. K. Nielsen Statsaut. revisor mne23299