Årsrapport34209936Grant Thornton, Statsautoriseret RevisionspartnerselskabStockholmsgade, 452100, København Ø2020-01-012020-12-312021-01-012021-12-3139728214Opticos Denmark ApSLinnésgade25, kl.1361København KGrant Thornton, Statsautoriseret Revisionspartnerselskab34209936Martin S. Haaningstatsautoriseret revisormne32793Stockholmsgade452100København ØDanmark+45 33 110 220info@dk.gt.com2022-05-20Sven Fredrik Fender HallbergRegnskabsklasse BAndre erklæringer uden sikkerhedRevisorgruppen DanmarkanpartshaverneKøbenhavn2022-05-20København K2022-05-20-73235668075-69171443911219946386146-286264-11619820221914970322915-335967-1162706-335967-1162706-335967-1162706015285015285015285331327696787588600186733721369865424515220078658236589944058236591472505000050000-1739950-1403983-1689950-135398306991100560069532712386151296992281002693982272315226870822723152268708582365914725-9692136631888867338188710255-69171443911124764619570205733454970322915Today, the Managing Director has approved the annual report of Opticos Denmark ApS for the financial year 1 January - 31 December 2021. The annual report has been prepared in accordance with the Danish Financial Statements Act. I consider the chosen accounting policy to be appropriate, and in my opinion, the financial statements give a true and fair view of the financial position of the Company at 31 December 2021 and of the results of the Company's operations for the financial year 1 January – 31 December 2021. The Managing Director consider the conditions for audit exemption of the 2021 financial statements to be met. Further, in my opinion, the Management's review gives a true and fair review of the matters discussed in the Management's review. We recommend that the annual report be approved at the Annual General Meeting. Sven Fredrik Fender HallbergWe have compiled the financial statements of Opticos Denmark ApS for the financial year 1 January - 31 December 2021 based on the company's bookkeeping and on information you have provided. These financial statements comprise a summary of significant accounting policies, income statement, balance sheet and notes. We performed this compilation engagement in accordance with International Standard on Related Services 4410 (Revised), Compilation Engagements. We have applied our expertise in accounting and financial reporting to assist Management in the preparation and presentation of these financial statements in accordance with the Danish Financial Statements Act. We have complied with relevant requirements under the Danish Act on Approved Auditors and Audit Firms and International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code) including principles of integrity, objectivity, professional competence and due care. These financial statements and the accuracy and completeness of the information used to compile them are your responsibility. Since a compilation engagement is not an assurance engagement, we are not required to verify the accuracy or completeness of the information you provided to us to compile these financial statements. Accordingly, we do not express an audit opinion or a review conclusion on whether these financial statements are prepared in accordance with the Danish Financial Statements Act. The principal activities of the company Like previous years, the activities of the company are management consultancy services, mainly focused around IT-enabled business transformation and sourcing advisory services. Development in activities and financial matters The gross loss for the year totals DKK -73.235 against DKK 668.075 last year. Income or loss from ordinary activities after tax totals DKK -335.967 against DKK -1.162.706 last year. Uncertainties concerning Opticos Denmark ApS’ ability to continue as a going concern The management is aware of the rules regarding lost contributed capital. The company's activity is supported by the parent company with a letter of support. The management therefore presents the accounts as going concern. General about the business of Opticos Group Opticos Group is a Nordic high-profile and future-oriented management consultancy firm, offering IT enabled business transformation, IT strategy and sourcing advisory services. Mission: "Creating shared value and making the difference for our clients, our people and our community. Vision: "The firm of choice for IT enabled business transformation and sourcing advisory services. 2021 Opticos Group closes the eleventh (11) annual report for a full calendar year, and it has, as for many others, been another challenging year, due to the global pandemic (Covid-19) effect on the market and our Clients. This is for the second year in a row. We are closing the year with a positive margin (3.0% EBITDA), even if the first two quarters of last year were challenging from a market perspective, with lower ambitions for many of our Clients. We have managed to increase sales with 21% to a turnover of 85 MSEK for the full year, which is 5 MSEK better than the original budget for 2021, and 8% better than 2019 (the last year before the downturn that was not affected by the pandemics). The turnover in the production companies is distributed between Gothenburg (28 MSEK), Stockholm (45 MSEK) and the Group headquarters which had a 12 MSEK turnover. We have engaged approx. 60 consultants (full-time equivalents) and had a net increase of seven (7) employed consultants, in accordance with our strategy to increase the share of employed staff in the company. At year-end, we were 48 employees within the group, and the remaining are associated partners to Opticos. Group headquarter is in Gothenburg, Sweden. Significant events of the Opticos Group during the financial year The group has operated coordinated under one management, and in accordance with our long-term strategy and plan, with continued profitable growth, aiming to be top three within our field of services in the Nordic Market, grow into new markets, with new clients, and with adjacent service offerings. Also, to minimize the risk of sub-optimization, increase margin, and improve the use of our collective capability. Opticos Group has continued to invest in our important" Young Professionals Program" (YPP), aiming to develop our skill base of future consultants and leaders within IT management and Sourcing. The program is also an important enabler for our continued growth strategy. We have now concluded three full YPP years, the fourth being ongoing and the fifth starting in August 2022. On the Client side, we continue to grow market shares within the manufacturing industry but have also seen continued growth for us within the bank-, insurance- and service sectors during 2021. Corporate Social Responsibility (CSR) is very important for Opticos Group, and part of our corporate values. We have continued to focus our funds and efforts in 2021 on the nonprofit organization" My Dream now, whose purpose is to create an inspiring collaboration between schools and the working environment. We have during 2021 trained and engaged 10 coaches within the company as pro-bono coaches and carried through multiple training sessions in different suburban schools within "My Dream now”. 2022 Group forecast 2022 is Opticos Group twelfth year in business, where we are planning for a turn-over of 110 MSEK, with an 8% ROI (EBITDA) at group level. That corresponds to a 30% growth compared to 2021. We plan to close 2022 with +60 employed consultants, divided between our Nordic offices in Gothenburg, Stockholm and Copenhagen/Öresund, and our new office in Bangalore, India, starting January 2022. Our continued expansion will continue to build upon our three capability areas: Digital transformation IT Strategy Sourcing & Procurement Mainly within the sectors: Manufacturing Financial Services The annual report for Opticos Denmark ApS has been presented in accordance with the Danish Financial Statements Act regulations concerning reporting class B enterprises. Foreign currency translation Transactions in foreign currency are translated by using the exchange rate prevailing at the date of the transaction. Differences in the rate of exchange arising between the rate at the date of transaction and the rate at the date of payment are recognised in the profit and loss account as an item under net financials. If currency positions are considered to hedge future cash flows, the value adjustments are recognised directly in equity in a fair value reserve. Receivables, payables, and other foreign currency monetary items are translated using the closing rate. The difference between the closing rate and the rate at the time of the occurrence or initial recognition in the latest financial statements of the receivable or payable is recognised in the income statement under financial income and expenses. Gross loss Gross loss comprises the revenue, other operating income, and external costs. The enterprise will be applying IAS 11 and IAS 18 as its basis of interpretation for the recognition of revenue. Revenue is recognised in the income statement if delivery and passing of risk to the buyer have taken place before the end of the year and if the income can be determined reliably and inflow is anticipated. Recognition of revenue is exclusive of VAT and taxes and less any discounts relating directly to sales. Other operating income comprises items of a secondary nature as regards the principal activities of the enterprise, including profit from the disposal of intangible and tangible assets. Other external costs comprise costs incurred for distribution, sales and administration. Staff costs Staff costs include salaries and wages, including holiday allowances, pensions, and other social security costs, etc., for staff members. Staff costs are less government reimbursements. Other operating costs Other operating costs comprise items of secondary nature as regards the principal activities of the enterprise, including losses on the disposal of intangible and tangible assets. Financial income and expenses Financial income and expenses are recognised in the income statement with the amounts concerning the financial year. Financial income and expenses comprise interest income and expenses, realised and unrealised capital gains and losses relating to debt and transactions in foreign currency. Tax on net profit or loss for the year Tax for the year comprises the current income tax for the year and changes in deferred tax and is recognised in the income statement with the share attributable to the net profit or loss for the year and directly in equity with the share attributable to entries directly in equity. Deposits Deposits are measured at amortised cost and represent lease deposits, etc. Receivables Receivables are measured at amortised cost, which usually corresponds to nominal value. In order to meet expected losses, impairment takes place at the net realisable value. Prepayments and accrued income Prepayments and accrued income recognised under assets comprise incurred costs concerning the following financial year. Cash on hand and demand deposits Cash on hand and demand deposits comprise cash at bank. Liabilities other than provisions Other liabilities concerning payables to suppliers, group enterprises, and other payables are measured at amortised cost which usually corresponds to the nominal value. 1. Uncertainties concerning the enterprise's ability to continue as a going concern The company's activity is supported by the parent company with a letter of support. The management therefore presents the annual accounts as going concern. 2. Special items Special items include significant income and expenses of a special nature relative to the enterprise's ordinary operating activities, such as the cost of extensive structuring of processes and fundamental structural adjustments and any related gains on disposal and losses which, over time, have a significant impact. Special items also include other significant amounts of a nonrecurring nature. Special items for the year are specified below, indicating where they are recognised in the income statement. 2021 2020 Income: COVID-19 compensation 0 149.742 0 149.742 Special items are recognised in the following items in the financial statements: Other operating income 0 149.742 Profit of special items, net 0 149.742 397282142021-01-012021-12-31397282142020-01-012020-12-31397282142020-12-31397282142021-12-31397282142021-01-012021-12-311397282142021-01-012021-12-311397282142021-01-012021-12-31e:RetainedEarningsMember397282142020-01-012020-12-31e:RetainedEarningsMemberiso4217:DKKxbrli:pure