The supervisory board and executive board have today discussed and approved the annual report of Thule Holding ApS for the financial year 1 January - 31 December 2022.The annual report is prepared in accordance with the Danish Financial Statements Act.In our opinion, the financial statements give a true and fair view of the company's financial position at 31 December 2022 and of the results of the company's operations for the financial year 1 January - 31 December 2022.In our opinion, management's review includes a fair review of the matters dealt with in the management's review.The financial statements have not been audited. Management considers the criteria for not auditing the financial statements to be met.Jan Magnus WelanderJan Magnus WelanderMarianne Bonrud HagelqvistTo the shareholder of Thule Holding ApSWe have compiled the financial statements of Thule Holding ApS for the financial year 1 January - 31 December 2022 based on the company's bookkeeping records and other information made available by enterprise. The financial statements comprises a summary of significant accounting policies, income statement, balance sheet, statement of changes in equity and notes. We performed the engagement in accordance with ISRS 4410, Compilation Engagements. We have applied our professional expertise to assist the enterprise in the preparation and presentation of the financial statements in accordance with the Danish Financial Statements Act. We complied with the relevant provisions of the Danish Act on Approved Auditors and with the International Ethics Standards Board for Accountants' Code of Ethics for Professional Accountants (IESBA Code), including principles relating to integrity, objectivity, professional competence and due care. The financial statements and the accuracy and completeness of the information used to compile the financial statements are the enterprise´s responsibility. As a compilation engagement is not an assurance engagement, we are not required to verify the accuracy or completeness of the information provided by enterprise for our compilation of the financial statements. Accordingly, we do not express an audit or a review conclusion on whether the financial statements have been prepared in accordance with the Danish Financial Statements Act.Copenhagen2023-03-31Rödl & Partner DanmarkGitte Henckelstate authorised public accountantmne32734Business review Thule Holding ApS' activities comprise sales and to hold the total share capital of Brink Nordisk Holdings ApS.Financial review The company's income statement for the year ended 31 December 2022 shows a profit of TDKK 3,106, and the balance sheet at 31 December 2022 shows equity of TDKK 62,243.Significant events occurring after the end of the financial year No events have occurred after the balance sheet date which could significantly affect the company's financial position.The annual report of Thule Holding ApS for 2022 has been prepared in accordance with the provisions of the Danish Financial Statements Act applying to enterprises of reporting class B, as well as provisions applying to reporting class C entities. The accounting policies applied are consistent with those of last year. The annual report for 2022 is presented in TDKK Pursuant to sections §110 subsection 1, of the Danish Financial Statements Act, the company has not prepared consolidated financial statements.Income is recognised in the income statement as earned, including value adjustments of financial assets and liabilities. All expenses, including amortisation, depreciation and impairment losses, are also recognised in the income statement. 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 asset can be measured reliably. Liabilities are recognised in the balance sheet when it is probable that future economic benefits will flow from the company and the value of the liability can be measured reliably. On initial recognition, assets and liabilities are measured at cost. On subsequent recognition, assets and liabilities are measured as described below for each individual accounting item. Certain financial assets and liabilities are measured at amortised cost using the effective interest method. Amortised cost is calculated as the historic cost less any installments and plus/less the accumulated amortisation of the difference between the cost and the nominal amount. On recognition and measurement, allowance is made for predictable losses and risks which occur before the annual report is presented and which confirm or invalidate matters existing at the balance sheet date.In pursuance of section 32 of the Danish Financial Statements Act, the company does not disclose its revenue. Gross profit reflects an aggregation of revenue less other external expenses.Revenue is measured at the fair value of the agreed consideration, excluding VAT and other indirect taxes. Revenue is net of all types of discounts granted.Other external expenses include expenses related to sales and administration.Staff costs include wages and salaries, including compensated absence and pensions, as well as other social security contributions, etc. made to the entity's employees.Financial income and expenses are recognised in the income statement at the amounts relating to the financial year. Net financials include interest income and expenses, realised and unrealised exchange gains and losses on foreign currency transactions and allowances under the advance-payment-of-tax scheme, etc.The proportionate share of the results after tax of the individual subsidiaries is recognised in the income statement of the company after full elimination of intra-group profits/losses.The company is subject to the Danish rules on compulsory joint taxation of the Group's Danish subsidiaries. Subsidiaries participate in the joint taxation arrangement from the time when they are included in the consolidated financial statements and until the time when they withdraw from the consolidation. The company acts as management company for all jointly taxed entities and, in its capacity as such, pays all income taxes to the Danish tax authorities. On payment of joint taxation contributions, the current Danish income tax is allocated between the jointly taxed entities in proportion to their taxable income. Entities with tax losses receive joint taxation contributions from entities that have been able to use tax losses to reduce their own taxable profits. Tax for the year, which comprises the current tax charge for the year and changes in the deferred tax charge, is recognised in the income statement.Investments in subsidiaries are measured at the proportionate share of the net asset value of the entities, calculated on the basis of the group's accounting policies, plus or less unrealised intra-group gains or losses and plus or less any remaining value of positive or negative goodwill stated according to the purchase method. Negative goodwill is recognised in the income statement on acquisition. Where the negative goodwill relates to contingent liabilities having been taken over, the negative goodwill is not recognised until the contingent liabilities have been settled or no longer exist.Receivables are measured at amortised cost.As management company, Thule Holding ApS is liable for payment of the subsidiaries' corporate income taxes to the tax authorities. Current tax liabilities and current tax receivables are recognised in the balance sheet as the estimated tax on the taxable income for the year, adjusted for tax on the taxable income for previous years and tax paid on account. Deferred tax is measured according to the liability method in respect of temporary differences between the carrying amount of assets and liabilities and their tax base, calculated on the basis of the planned use of the asset and settlement of the liability, respectively. Deferred tax is measured at net realisable value.Liabilities, which include trade payables, payables to subsidiaries and other debt are measured at amortised cost, which is usually equivalent to nominal value.519500061770001513000127800036820004899000508000394000277000330000667000528000380000050950006940001049000310600040460003106000404600022011000215030002201100021503000220110002150300059826000556970001600025000311700039550001430001110003300041000631350005982900063135000598290008514600081332000331440003314400029099000259930006224300059137000226010002173700022601000217370008000010500010300048000119000305000302000458000229030002219500085146000813320003314400025993000310600033144000290990001404000115000098000123000110005000151300012780004327700033000027700033000066400052700030000010006670005280008370001049000-143000043035000430350004303500043035000-21532000-21926000508000394000-21024000-215320002201100021503000Name Registered office Ownership interest Equity Profit/loss for the year Brink Nordisk Holdings ApS Copenhagen 100 22,011 508Brink Nordisk Holdings ApSCopenhagen10022011508 The following receivables from group enterprises are classified as short term receivables. 15,604 11,767 1560400011767000 The following receivables from group enterprises are classified as long term receivables. 44,222 43,930 The share capital consists of 331,440 shares of a nominal value of TDKK 100. No shares carry any special rights. There have been no changes in the share capital during the last 5 years.331440100As management company, the company is jointly taxed with other danish related parties and jointly liable with other jointly taxed entities for payment of income taxes as well as for payment of withholding taxes on dividends and interest.According to the company’s register of shareholders, the following shareholder holds at least 5% of the votes or at least 5% of the share capital:Årsrapport39188678Rödl & Partner DanmarkStore Kongensgade 40H, 2.1264 København K2022-01-012022-12-312021-01-012021-12-3128297696Thule Holding ApSStore Kongensgade40H, 21264CopenhagenDK2004-12-16Copenhagen2023-03-31Marianne Bonrud HagelqvistRegnskabsklasse BtrueAndre erklæringer uden sikkerhedCaseWare-FSR282976962022-01-012022-12-31282976962022-01-012022-12-311282976962021-01-012021-12-31282976962022-01-012022-12-31g:RetainedEarningsMember282976962021-01-012021-12-31g:RetainedEarningsMember282976962021-12-31282976962022-12-31282976962022-01-01g:InvestmentsInGroupEnterprisesMember282976962021-01-01g:InvestmentsInGroupEnterprisesMember282976962022-01-012022-12-31g:InvestmentsInGroupEnterprisesMember282976962021-01-012021-12-31g:InvestmentsInGroupEnterprisesMember282976962022-12-31g:InvestmentsInGroupEnterprisesMember282976962021-12-31g:InvestmentsInGroupEnterprisesMember282976962022-01-012022-12-311282976962022-01-012022-12-312282976962022-01-012022-12-311282976962022-01-01g:ContributedCapitalMember282976962022-12-31g:ContributedCapitalMember282976962022-01-01g:RetainedEarningsMember282976962022-01-012022-12-31g:RetainedEarningsMember282976962022-12-31g:RetainedEarningsMember282976962022-12-311282976962022-01-012022-12-31g:SubsidiaryMember1282976962022-12-31g:SubsidiaryMember1xbrli:sharesiso4217:DKKxbrli:pure