The board of directors have today discussed and approved the annual report of Euromaster Danmark A/S for the financial year 1. januar - 31. december 2022.The annual report is prepared in accordance with the Danish Financial Statements Act.In our opinion, the consolidated financial statements and parent financial statements give a true and fair view of the company and the group financial position at 31. december 2022 and of the results of the group and the company operations and consolidated cash flows for the financial year 1. januar - 31. december 2022.In our opinion, management's review includes a fair review of the matters dealt with in the management's review.Management recommends that the annual report should be approved by the company in general meeting.Thomas Støvring HarboChief Executive officerStéphane Heri MamellechairmanThomas Støvring HarboHans-Jörgen Heinrich WalterTo the shareholder of Euromaster Danmark A/SWe have audited the consolidated financial statements and the parent company financial statements of Euromaster Danmark A/S for the financial year 1. januar - 31. december 2022, which comprise income statement, balance sheet, statement of changes in equity, notes and summary of significant accounting policies, for both the group and the parent company as well as consolidated cash flow statement. The consolidated financial statements and the parent company financial statements are prepared under the Danish Financial Statements Act. In our opinion, the consolidated financial statements and the parent company financial statements give a true and fair view of the group and the parent company's financial position at 31. december 2022 and of the results of the group and the parent company's operations and consolidated cash flows for the financial year 1. januar - 31. december 2022 in accordance with the Danish Financial Statements Act.We conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the “Auditor's responsibilities for the audit of the consolidated financial statements and parent company ” section of our report. We are independent of the group in accordance with the International Ethics Standards Board for Accountants' Code of Ethics for Professional Accountants (IESBA Code) and the additional requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.Management is responsible for the preparation of consolidated financial statements and parent company financial statements, that give a true and fair view in accordance with the Danish Financial Statements Act and for such internal control as management determines is necessary to enable the preparation of the consolidated financial statements and the parent company financial statements that are free from material misstatement, whether due to fraud or error. In preparing the consolidated financial statements and parent company financial statements, management is responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting in preparing the consolidated financial statements and parent company financial statements unless management either intends to liquidate the group or the company or to cease operations, or has no realistic alternative but to do so.Our objectives are to obtain reasonable assurance about whether the consolidated financial statements and parent company financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements and parent company financial statements. As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgement and maintain professional scepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the consolidated financial statements and parent company financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the group's and the parent company's internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management. Conclude on the appropriateness of management's use of the going concern basis of accounting in preparing the consolidated financial statements and parent company financial statements and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group's and the parent company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the consolidated financial statements and parent company financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the group and the company to cease to continue as a going concern. Evaluate the overall presentation, structure and contents of the consolidated financial statements and parent company financial statements, including the disclosures, and whether the consolidated financial statements and parent company financial statements represent the underlying transactions and events in a manner that gives a true and fair view. Obtain sufficient and appropriate audit evidence regarding the financial information for the group's entities or business activities to express an opinion on the consolidated financial statements. We are responsible for directing, supervising and conducting the audit of the group. We alone are responsible for our audit opinion. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.Statement on management's review Management is responsible for management's review. Our opinion on the consolidated financial statements and parent company financial statements does not cover management's review, and we do not express any form of assurance conclusion thereon. In connection with our audit of the consolidated financial statements and parent company financial statements, our responsibility is to read management's review and, in doing so, consider whether management's review is materially inconsistent with the consolidated financial statements and parent company financial statements or our knowledge obtained during the audit, or otherwise appears to be materially misstated. Moreover, it is our responsibility to consider whether management's review provides the information required under the Danish Financial Statements Act. Based on the work we have performed, we conclude that management's review is in accordance with the consolidated financial statements and parent company financial statements and has been prepared in accordance with the requirements of the Danish Financial Statements Act. We did not identify any material misstatement of management's review.Aarhus C2023-06-29DeloitteChris MiddelhedeState Authorised Public Accountantmne45823Seen over a 5-year period, the development of the Company may be described by means of the following financial highlights: The financial ratios are calculated in accordance with the Danish Finance Society's recommendations and guidelines. For definitions, see the summary of significant accounting policies.. 820980008538900075342000-35522000-36597000-30418000-1041000-11053000-4203000-3788000-2339000-39725000-39718000-32193000211689000233480000163934000-6335000140520001137900090240003038000-1435400025371000-249110001682600060730000-639000-9159000-8727000-2940000-21.3-11.6-16.8-15.7-18.666.145.6-6.810.9-15.2Where the accounting policies have been changed, the comparatives for 2018 onwards have been restated. For an account of changes in accounting policies, see the summary of significant accounting policies. Business review The Company’s primary activity comprises sale of tyres and tyre related services on the Danish market. The Company also offers repair services on light vehicles. The Company’s activities are executed through a national spread of centers, where private and business customers in two different segments are served. The Company employs approx. 200 employees, depending on the seasons.Recognition and measurement uncertainties The recognition and measurement of items in the annual report is not associated with any significant uncertainty.Unusual matters On March 3rd, NDI Group A/S and Euromaster Services et Management entered into an agreement to merge their Danish operations. This strategic decision aims to combine their strengths and create a stronger presence in the Danish market. The merger would bring together the expertise, resources, and networks of both companies, resulting in enhanced offerings and improved customer experiences. This development signifies an important milestone for both organizations and would set the stage for future growth and success in Denmark. The agreement is still under investigation at The Danish Competion and Consumer Authority.Financial review The group's income statement for the year ended 31 December 2022 shows a loss of TDKK 46.301, and the balance sheet at 31. december 2022 shows equity of TDKK 161.057.Significant events occurring after the end of the financial year No events have occurred after the balance sheet date which could significantly affect the the group's financial position.Expected development of the company, including specific prerequisites and uncertainties The management expects a result for 2023 that is in line with the performance of 2022.Specific prerequisites for assessment of the expected development of the company One specific prerequisite for evaluating the expected development of the company is obtaining the approval of the competition authorities for the transaction between Euromaster Denmark A/S and NDI Group A/S. This approval is crucial to ensure a seamless integration of the two companies and to avoid any potential competition-related obstacles. We are therefore committed to working closely with the relevant authorities to fulfill all necessary requirements and obtain the necessary clearances. The successful completion of this process will provide a solid foundation for the anticipated development of the company.Impact on the external environment and measures taken to prevent, reduce or mitigate damage At Euromaster Denmark A/S, we are committed to minimizing our impact on the environment by offering the best environmentally friendly tires available on the market. These tires are specifically designed to reduce environmental damage and promote sustainability. By choosing the most environmentally friendly tires, our customers benefit from various advantages. These tires demonstrate exceptional performance in terms of: Extended lifespan: The longevity of these tires means fewer replacements, resulting in reduced waste and resource consumption. Fuel efficiency: Environmentally friendly tires are engineered to minimize rolling resistance, leading to improved fuel economy and reduced carbon emissions. Reduced carbon footprint: Using these tires helps decrease the overall carbon dioxide (CO2) emissions, contributing to a healthier environment. Through our tire selection and promotion of eco-friendly options, Euromaster Denmark A/S actively takes measures to prevent, reduce, and mitigate environmental damage. We prioritize the use of tires that align with our commitment to sustainable practices, allowing us to contribute to a greener future.Profit/(loss) for the year relative to the expectations most recently expressed Unfortunately, the actual results for the year did not meet the expectations that were previously expressed. While the Company anticipated an improvement in results by approximately 500 K.EUR (4.000 K.DKK), the actual outcome revealed a decrease of approximately 1.200 K.EUR. (9.000 K.DKK) This variance highlights the challenges and unforeseen factors that affected the Company's financial performance, In particular the sales & operations have been affected by the uncertainty attached to the merger after the project communication. This still affects company sales & operation since no official decision from DCCA has been released so far Moving forward, it is crucial for the Company to reassess and adjust its strategies to address these issues and strive for improved profitability in the upcoming year.Statutory corporate social responsibility report In compliance with the statutory requirements, we would like to draw attention to the Michelin Group's Corporate Social Responsibility Report, which can be accessed at https://www.michelin.com/en/sustainable-development-mobility/for-people/. This report provides detailed information on Michelin's sustainable approach, focusing on key aspects such as ethics, compliance, and responsible business practices. The Michelin Group places a strong emphasis on sustainability and actively strives to create a positive impact on society and the environment. Through their comprehensive report, they highlight their efforts to promote responsible mobility, reduce environmental footprint, and foster a culture of integrity and ethical behavior throughout their operations. As an organization aligned with Michelin, we share a common commitment to corporate social responsibility. We aim to integrate sustainable practices into our business activities, contributing to a more sustainable future. By leveraging the principles and insights outlined in Michelin's Corporate Social Responsibility Report, we can further enhance our own efforts and work towards a more sustainable and responsible business approach.Policies on the underrepresented genderDescription of target figures for the underrepresented genderTarget figures for the underrepresented gender Gender equality and diversity inclusion are integral parts of our corporate values and policies. We are committed to creating a workplace that promotes equal opportunities and fair treatment for all employees. Here is an overview of our policies and the progress made towards achieving our targets for the group companies: Women in managerial positions: In line with our Diversity Policy, we set a target of having women account for 30% of all managers by 2020. While we fell slightly short of this objective, with the percentage standing at 28.2%, we have seen a steady increase in the proportion of women managers and supervisors over the years. To maintain this positive trend and break the glass ceiling, we have extended our commitment with a new target of 35% by 2030, along with a specific goal of having women account for 35% of "Group Manager" positions. Gender pay equality: We apply a policy of non-discrimination and equal pay for equivalent roles and responsibilities. Since 2012, we have used an audited method for calculating wage data worldwide, allowing us to identify and close any pay gaps between men and women in equivalent positions. In 2020, the overall gender wage gap stood at -2.58%, indicating a slight improvement from the previous year. This data was based on a sample of 35,085 employees with the same level of responsibility.Statement of policy for data ethics Link to statement of policy for data ethics URL:https://www.michelin.com/en/privacy-policy/Description of the disclosing of statement of policy for data ethics is not given, but is given on consolidated levelhttps://www.michelin.com/en/privacy-policy/3564000003254000001991600001752420006874400049690000884960001004680001259380001053930001522400022359000-686000-49000-51980000-27235000005700062000109800011115000-53021000-38288000-67200000-46301000-38288000000040224000500470001481500014818000197600021740005701500067039000000057015000670390006313200060159000631320006015900056357000660430003755700087540008623000760800055000000021800013620004233000109399000868560001415800021369000186689000168384000243704000235423000604000060300001550170001013280001610570001073580009894000183860004441000203200014335000204180008772000897000012150002204000263150003002700011368000504970002064200015949000683120001076470008264700012806500024370400023542300060300001013280001000099990000-4630100060400001550170006020000-2037400010000159990000-382880006030000101328000-46301000-3828800095450003341200010970000-16125000-25786000-210010005700062000-1098000-11115000-26827000-320540001438000382000-25389000-31672000-6335000-1405200011350002828000-5200000-11224000-8690000-10661000-67932000-900000001000000001600000002337800059339000-72110001644300021369000492600014158000213690001415800021369000The annual report of Euromaster Danmark A/S for 2022 has been prepared in accordance with the provisions of the Danish Financial Statements Act applying to large enterprises of reporting class C. The accounting policies applied are consistent with those of last year. The annual report for 2022 is presented in TDKKIncome 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 group's and the parent company's 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 group's and the parent company's 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.The uniting-of-interests method is applied on acquisition of enterprises, mergers, demergers, contributions of assets and exchanges of shares, etc where the enterprises concerned are controlled by the Parent. Under the uniting-of-interests method, the acquiree’s assets and liabilities are recognised at their carrying amounts, adjusted for any differences in accounting policies. The difference between the consideration agreed and the carrying amount of the acquiree is recognised in equity. The comparative figures are restated.The consolidated financial statements comprise the parent company Euromaster Danmark A/S and subsidiaries in which the parent company, directly or indirectly, holds more than 50% of the voting rights or otherwise has a controlling interest. Entities in which the Group holds between 20% and 50% of the voting rights and over which it exercises significant influence, but which it does not control, are considered participating interests or associates, cf. the group chart. The consolidated financial statements are prepared as a consolidation of the parent company's and subsidiaries' financial statements by aggregating uniform accounting items. On consolidation, intra-group income and expenses, holdings of shares, intra-group balances and dividends as well as realised and unrealised gains and losses on intra-group transactions are eliminated. Investments in subsidiaries are set off against the proportionate share of the subsidiaries' fair value of net assets and liabilities at the acquisition date. Entities acquired or formed during the year are recognised in the consolidated financial statements from the date at which control is obtained. Entities sold during the year are recognised in the consolidated income statement until the date of disposal. Comparative figures are not restated for acquisitions or disposals.Revenue from the sale of manufactured goods and goods for resale is recognised in the income statement when delivery is made and risk has passed to the buyer. Revenue is recognised net of VAT, duties and sales discounts and is measured at fair value of the consideration fixed.Costs of raw materials and consumables include the raw materials and consumables used in generating the year’s revenue.Other external expenses include expenses related to distribution, sale, advertising, administration, premises, bad debts, payments under operating leases, etc.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.Amortisation, depreciation and impairment losses comprise the year's amortisation, depreciation and impairment of intangible assets and property, plant and equipment.Financial income and expenses are recognised in the income statement at the amounts that relate to the financial year. Net financials include interest income and expenses, financial expenses relating to finance leases, realised and unrealised capital/exchange gains and losses on securities, liabilities and foreign currency transactions, amortisation of financial assets and liabilities and surcharges and allowances under the Danish Tax Prepayment Scheme, etc.The proportionate share of the profit/loss for the year of subsidiaries is recognised in the parent company's income statement after full elimination of intra-group profits/losses.The Entity is jointly taxed with all the Danish group enterprises and other Danish entities within the Michelin Group. The current Danish income is allovated among the jointly taxed entities proportionally to their taxable income (full allocation with a refund concerning tax losses). 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 as regards the portion that relates to the profit/loss for the year and directly in equity as regards the portion that relates to entries directly in equity.Items of land and buildings, fixtures and fittings, tools and equipment are measured at cost less accumulated depreciation and impairment losses. The depreciable amount is cost less the expected residual value at the end of the useful life. Land is not depreciated. Cost comprises the purchase price and any costs directly attributable to the acquisition until the date when the asset is available for use. The cost of self-constructed assets comprises direct and indirect costs of materials, components, sub-suppliers and wages. Straight-line depreciation is provided on the basis of the following estimated useful lives of the assets: Useful life Buildings 25 years Other fixtures and fittings, toold and equipment 3-20 years Leasehold improvements 2-25 years Gains or losses from the disposal of property, plant and equipment are recognised in the income statement as other operating income or other operating expenses, respectively.On initial recognition, lease assets are measured at the amount of the initial measurement of the lease liabilities, any lease payments made before the commencement date less any lease incentives received, and any initial direct costs incurred by the lessee. An estimate of costs to be incurred by the lessee in dismantling and removing the lease assets, or restoring the underlying assets, are recognised as a separate provision. The costs are added to the cost of the lease assets unless the liability is incurred to produce inventories in which case the costs are recognised in the cost of the manufactured goods. Subsequently, lease assets are measured at cost less accumulated depreciation and impairment losses. Lease assets are depreciated over the lower of the lease term and the useful life of the underlying assets. If the lease transfers the ownership of the lease assets by the end of the lease term or if the exercise of a purchase option is expected, the lease assets are depreciated over their useful life. Depreciation begins at the commencement date. Lease assets are written down to the lower of recoverable amount and carrying amount. Lease assets are adjusted upon remeasurement of the lease liabilities; see below in the lease liability section. Lease assets are recognised as fixed assets within the asset item in which the underlying assets of the lease would be recognised if the Entity owned them.Investments in subsidiaries, associates and participating interests 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. Investments in subsidiaries, associates and participating interests with a negative net asset value are measured at DKK 0, and the carrying amount of any receivables from these entities is reduced to the extent that they are considered irrecoverable. If the parent company has a legal or constructive obligation to cover a deficit that exceeds the receivable, the balance is recognised under provisions.Stocks are measured at cost using the FIFO method. Where the net realisable value is lower than the cost, inventories are recognised at this lower value. The cost of goods for resale, raw materials and consumables comprises the purchase price plus delivery costs. The cost of finished goods and work in progress includes the cost of raw materials, consumables, direct cost of labour and production/production overheads. The net realisable value of stocks is calculated as the expected selling price less direct costs of completion and expenses incurred to effect the sale. The net realisable value is determined taking into account marketability, obsolescence and expected selling price movements.The carrying amount of intangible assets, items of property, plant and equipment and investments in subsidiaries, associates and participating interests is tested annually for impairment, other than what is reflected through normal amortisation and depreciation.Receivables are measured at amortised cost. An impairment loss is recognised if there is objective evidence that a receivable or a group of receivables is impaired. If there is objective evidence that an individual receivable is impaired, an impairment loss for that individual asset is recognised. Impairment losses are calculated as the difference between the carrying amount of the receivables and the present value of the expected cash flows, including the realisable value of any collateral received, using the effective interest rate of individual receivables or portfolios of receivables as discount rate.Cash and cash equivalents comprise cash and deposits at banks.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.Financial liabilities are recognised on the raising of the loan at the proceeds received net of transaction costs incurred. On subsequent recognition, the financial liabilities are measured at amortised cost, corresponding to the capitalised value, using the effective interest method. Accordingly, the difference between the net proceeds and the nominal value is recognised in the income statement over the term of the loan. Financial liabilities also include the capitalised residual finance lease commitment. Other liabilities, which include trade payables, payables to group entities and other payables, are measured at amortised cost, which is usually equivalent to nominal value. On initial recognition, lease liabilities are measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease. If that rate cannot be readily determined, the Entity's incremental borrowing rate shall be used. Lease payments included in the measurement of the lease liability comprise the following payments: - Fixed payments less any lease incentives provided by the lessor to the lessee. - Variable lease payments that depend on an index or a rate, initially measured using the index or rate as at the commencement date. - Amounts expected to be payable under residual value guarantees. - The exercise price of a purchase option if it is reasonably certain to exercise that option. - Payments of penalties for terminating the lease if the lease term reflects the lessee exercising an option to terminate the lease. Variable lease payments that depend on an index or a rate are recognised in the income statement as "Other external expenses" in the period in which the event or the circumstance triggering the payments in question takes place. Lease liabilities are remeasured and the corresponding lease assets are similarly adjusted when: - There is a change in the lease term, e.g. as a result of a change in the assessment of whether an option to extend or to purchase will be exercised. Remeasurement takes place by discounting the revised lease payments using a discount rate revised at the time of changing the lease. - There is a change in lease payments resulting from a change in an index or a rate, or in the amounts expected to be payable under a residual value guarantee. Remeasurement takes place by discounting the revised lease payments using the original discount rate. However, a revised discount rate is used if the change reflects a change in the floating interest rate. - There is a lease modification that is not accounted for as a separate lease. Remeasurement takes place by discounting the revised lease payments using a revised discount rate. If the remeasurement results in the reduction of a lease liability exceeding the carrying amount of the corresponding lease asset, the excess amount is recognised in the income statement.On initial recognition, foreign currency transactions are translated applying the exchange rate at the transaction date. Foreign exchange differences arising between the exchange rates at the transaction date and at the date of payment are recognised in the income statement as financial income or financial expenses. If foreign currency instruments are considered cash flow hedges, any unrealised value adjustments are taken directly to a fair value reserve under ‘Equity’.The cash flow statement shows the group's cash flows for the year, broken down under cash flows from operating, investing and financing activities, the year's changes in cash and cash equivalents and the group's cash and cash equivalents at the beginning and at the end of the year. The cash flow effect of additions and disposals of entities is shown separately under cash flows from investing activities. The cash flow statement includes cash flows from acquired entities from the time of acquisition, and cash flows from sold entities are included until the date of sale. Cash flows from operating activities Cash flows from operating activities are stated as the group's profit or loss for the year, adjusted for non-cash operating items, changes in working capital and paid income taxes. Dividend income from investments is recognised under ‘Interest income and dividend received’. Cash flows from investing activities Cash flows from investing activities comprise payments related to the acquisition and sale of entities and activities as well as intangible assets, property, plant and equipment and investments. Cash flows from financing activities Cash flows from financing activities comprise changes in the size or composition of the group's share capital and related costs, as well as the raising of loans, repayment of interest-bearing debt and payment of dividends to shareholders. Cash and cash equivalents Cash and cash equivalents comprise cash and short-term securities whose remaining life is less than three months and which are readily convertible into cash and which are subject only to insignificant risks of changes in value.Revenue - Denmark 356.400 325.400 356.400 325.400 Total revenue 356.400 325.400 356.400 325.400115847000962120004304000362900057870005552000125938000105393000223218According to section 98 B(3) of the Danish Financial Statements Act, renumeration to the executive board has not been disclosed.15224000223590001522400022359000540005800030004000570006200010700010301000525000148000466000666000109800011115000-12200000-55000000-46301000-3828800074000007400000-7400000-740000001210030007727400088700003530005666000316000-1981000-4607000011937500078333000918600070956000624560006696000101760004534000514000-1981000-3472000079151000-6351800072100004022400014815000197600017945000690000Name Registered office Ownership interest Euromaster Ejendomme A/S Skanderborg 100 Viborg Direct A/S Skanderborg 100Euromaster Ejendomme A/SSkanderborg100Viborg Direct A/SSkanderborg100183860009894000877200010210002032000444100000Unrecognised rental and lease commitments Commitments under rental or lease agreements until expiry in total 8.550 DK'000A bank guarantee has been provided to third party interest totalling 181k DKK at 31.12.2022Compagnie Générale des Etablissements Michelin, France, Ultimate Parent Comany Euromaster Services et Management, France, Group Entreprise, controlling shareholder in Euromaster Danmark A/S241000247000-57000-620001098000111150001522400022359000-67200000-2973000-1419200011542000-46160002401000268300010970000-16125000Årsrapport33948794Kreston SR Statsautoriseret RevisionspartnerselskabTorvet 78600 Silkeborg2022-01-012022-12-312021-01-012021-12-3114808701Euromaster Danmark A/SKrøyer Kielbergs Vej3, 1.8660SkanderborgDKDanmark1990-05-01Skanderborg+45 87 28 28 28+45 87 28 28 29www.euromaster.dkinfo@dk.euromaster.comDeloitte33963556Chris MiddelhedeState Authorised Public AccountantVærkmestergade28000Aarhus CDKDanmark2023-06-29Thomas Støvring HarboRegnskabsklasse C, stor virksomhedRevisionspåtegningCaseWare-FSRfalsefalsefalsefalseReturn on net assets Profit/loss before financials x 100Total assets Solvency ratio Equity at year end x 100Total assets148087012022-01-012022-12-31148087012022-01-012022-12-311148087012021-01-012021-12-31148087012022-01-012022-12-31d:TwoYearsAgoMember148087012022-12-31d:TwoYearsAgoMember148087012022-01-012022-12-31d:ThreeYearsAgoMember148087012022-12-31d:ThreeYearsAgoMember148087012022-01-012022-12-31d:FourYearsAgoMember148087012022-12-31d:FourYearsAgoMember148087012022-01-012022-12-31g:RetainedEarningsMember148087012021-01-012021-12-31g:RetainedEarningsMember148087012021-12-31148087012022-12-31148087012022-01-012022-12-311148087012022-01-012022-12-312148087012022-01-012022-12-313148087012022-01-012022-12-311148087012022-01-01g:ContributedCapitalMember148087012022-01-012022-12-31g:ContributedCapitalMember148087012022-12-31g:ContributedCapitalMember148087012022-01-01g:RetainedEarningsMember148087012022-01-012022-12-31g:RetainedEarningsMember148087012022-12-31g:RetainedEarningsMember148087012022-01-01g:GoodwillMember148087012022-12-31g:GoodwillMember148087012022-01-01g:LandAndBuildingsMember148087012022-01-012022-12-31g:LandAndBuildingsMember148087012022-12-31g:LandAndBuildingsMember148087012022-01-01g:FixturesFittingsToolsAndEquipmentMember148087012022-01-012022-12-31g:FixturesFittingsToolsAndEquipmentMember148087012022-12-31g:FixturesFittingsToolsAndEquipmentMember148087012022-01-01g:LeaseholdImprovementsMember148087012022-01-012022-12-31g:LeaseholdImprovementsMember148087012022-12-31g:LeaseholdImprovementsMember148087012022-12-31g:LongtermLeaseCommitmentsMember148087012022-01-01g:LongtermLeaseCommitmentsMember148087012022-01-01148087012021-01-01148087012022-01-012022-12-31g:SubsidiaryMember1148087012022-12-31g:SubsidiaryMember1148087012022-01-012022-12-31g:SubsidiaryMember2148087012022-12-31g:SubsidiaryMember2148087012021-01-012021-12-311148087012021-01-01g:ContributedCapitalMember148087012021-01-012021-12-31g:ContributedCapitalMember148087012021-12-31g:ContributedCapitalMember148087012021-01-01g:RetainedEarningsMember148087012021-01-012021-12-31g:RetainedEarningsMember148087012021-12-31g:RetainedEarningsMember148087012022-12-31g:LandAndBuildingsMemberg:LeasedAssetsMember148087012022-12-31g:FixturesFittingsToolsAndEquipmentMemberg:LeasedAssetsMember148087012022-12-31g:LeaseholdImprovementsMemberg:LeasedAssetsMember148087012022-12-31g:HolidayAllowanceLiabilitiesLongtermMember148087012022-01-01g:HolidayAllowanceLiabilitiesLongtermMemberiso4217:DKKxbrli:pure