36535326 2022-01-01 2022-12-31 36535326 2022-01-01 2022-12-31 0 36535326 2022-01-01 2022-12-31 1 36535326 2022-01-01 2022-12-31 0 36535326 2022-01-01 2022-12-31 1 36535326 2022-01-01 2022-12-31 2 36535326 2021-01-01 2021-12-31 36535326 2022-12-31 36535326 2021-12-31 36535326 2022-01-01 36535326 2021-01-01 36535326 2022-01-01 2022-12-31 ifrs-full:SeparateMember 36535326 2021-01-01 2021-12-31 ifrs-full:SeparateMember 36535326 2022-12-31 ifrs-full:SeparateMember 36535326 2021-12-31 ifrs-full:SeparateMember 36535326 2022-01-01 ifrs-full:SeparateMember 36535326 2021-01-01 ifrs-full:SeparateMember 36535326 2022-01-01 2022-12-31 0 iso4217:EUR xbrli:pure Regnskabsklasse C, stor virksomhed 2022-01-01 2022-12-31 <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 /><td>Statement by the Board of Directors and the Executive Board</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>Today, the Board of Directors and the Executive Board have discussed and approved the annual report of EET A/S for</td></tr><tr><td /><td>the financial year 1 January – 31 December 2022.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>The annual report has been prepared in accordance with the International Financial Reporting Standards as adopted</td></tr><tr><td /><td>by the EU and additional requirements of the Danish Financial Statements Act.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>In our opinion, the consolidated financial statements and the parent company financial statements give a true and fair</td></tr><tr><td /><td>view of the financial position of the Group and the Parent Company at 31 December 2022 and of the results of the</td></tr><tr><td /><td>Group's and the Parent Company's operations and cash flows for the financial year 1 January – 31 December 2022.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Further, in our opinion, the Management's review gives a fair review of the development in the Group's and the</td></tr><tr><td /><td>Parent Company's operations and financial matters and the results of the Group's and the Parent Company's</td></tr><tr><td /><td>operations and 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 /><td>We recommend that the annual report be approved at the annual general meeting.</td></tr></table> Birkerød 2023-05-25 <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>Independent auditor's report</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>To the shareholders of EET 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 /><td>Opinion</td></tr><tr><td /><td>We have audited the consolidated financial statements and the parent company financial statements of EET A/S for</td></tr><tr><td /><td>the financial year 1 January – 31 December 2022, which comprise income statement, statement of comprehensive</td></tr><tr><td /><td>income, statement of financial position, statement of changes in equity, cash flow statement and notes, including</td></tr><tr><td /><td>accounting policies, for the Group and the Parent Company. The consolidated financial statements and the parent</td></tr><tr><td /><td>company financial statements are prepared in accordance with International Financial Reporting Standards as</td></tr><tr><td /><td>adopted by the EU and additional requirements of the Danish Financial Statements Act.</td></tr><tr><td /><td>In our opinion, the consolidated financial statements and the parent company financial statements give a true and fair</td></tr><tr><td /><td>view of the financial position of the Group and the Parent Company at 31 December 2022 and of the results of the</td></tr><tr><td /><td>Group's and the Parent Company's operations and cash flows for the financial year 1 January – 31 December 2022 in</td></tr><tr><td /><td>accordance with International Financial Reporting Standards as adopted by the EU and additional requirements of the</td></tr><tr><td /><td>Danish Financial Statements Act.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Basis for opinion</td></tr><tr><td /><td>We conducted our audit in accordance with International Standards on Auditing (ISAs) and additional requirements</td></tr><tr><td /><td>applicable in Denmark. Our responsibilities under those standards and requirements are further described in the</td></tr><tr><td /><td>Auditor's responsibilities for the audit of the consolidated financial statements and the parent company financial statements (hereinafter collectively referred to as "the financial statements") section of our report. We believe that</td></tr><tr><td /><td>the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Independence</td></tr><tr><td /><td>We are independent of the Group in accordance with the International Ethics Standards Board for Accountants’</td></tr><tr><td /><td>International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements</td></tr><tr><td /><td>applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements</td></tr><tr><td /><td>and the IESBA Code.</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 on the Management's review</td></tr><tr><td /><td>Management is responsible for the Management's review.</td></tr><tr><td /><td>Our opinion on the financial statements does not cover the Management's review, and we do not express any</td></tr><tr><td /><td>assurance conclusion thereon.</td></tr><tr><td /><td>In connection with our audit of the financial statements, our responsibility is to read the Management's review and, in</td></tr><tr><td /><td>doing so, consider whether the Management's review is materially inconsistent with the financial statements or our</td></tr><tr><td /><td>knowledge obtained during the audit, or otherwise appears to be materially misstated.</td></tr><tr><td /><td>Moreover, it is our responsibility to consider whether the Management's review provides the information required</td></tr><tr><td /><td>under the Danish Financial Statements Act.</td></tr><tr><td /><td>Based on the work we have performed, we conclude that the Management's review is in accordance with the</td></tr><tr><td /><td>financial statements and has been prepared in accordance with the requirements of the Danish Financial Statements</td></tr><tr><td /><td>Act. We did not identify any material misstatement of the 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 /><td>Management's responsibilities for the financial statements</td></tr><tr><td /><td>Management is responsible for the preparation of consolidated financial statements and parent company financial</td></tr><tr><td /><td>statements that give a true and fair view in accordance with International Financial Reporting Standards as adopted</td></tr><tr><td /><td>by the EU and additional requirements of the Danish Financial Statements Act and for such internal control as</td></tr><tr><td /><td>Management determines is necessary to enable the preparation of financial statements that are free from material</td></tr><tr><td /><td>misstatement, whether due to fraud or error.</td></tr><tr><td /><td>In preparing the financial statements, Management is responsible for assessing the Group's and the Parent</td></tr><tr><td /><td>Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using</td></tr><tr><td /><td>the going concern basis of accounting in preparing the financial statements unless Management either intends to</td></tr><tr><td /><td>liquidate the Group or the Parent 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 /><td>Auditor's responsibilities for the audit of the financial statements</td></tr><tr><td /><td>Our objectives are to obtain reasonable assurance as to whether the financial statements as a whole are free from</td></tr><tr><td /><td>material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion.</td></tr><tr><td /><td>Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with</td></tr><tr><td /><td>ISAs and additional requirements applicable in Denmark will always detect a material misstatement when it exists.</td></tr><tr><td /><td>Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they</td></tr><tr><td /><td>could reasonably be expected to influence the economic decisions of users taken on the basis of the financial</td></tr><tr><td /><td>statements.</td></tr><tr><td /><td>As part of an audit conducted in accordance with ISAs and additional requirements applicable in Denmark, we</td></tr><tr><td /><td>exercise professional judgement and maintain professional scepticism throughout the audit. We also</td></tr><tr><td /><td>► Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error,</td></tr><tr><td /><td>design and perform audit procedures responsive to those risks and obtain audit evidence that is sufficient and</td></tr><tr><td /><td>appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from</td></tr><tr><td /><td>fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions,</td></tr><tr><td /><td>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</td></tr><tr><td /><td>appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the</td></tr><tr><td /><td>Group's and the Parent Company's internal control.</td></tr><tr><td /><td>► Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and</td></tr><tr><td /><td>related disclosures made by Management.</td></tr><tr><td /><td>► Conclude on the appropriateness of Management's use of the going concern basis of accounting in preparing the</td></tr><tr><td /><td>financial statements and, based on the audit evidence obtained, whether a material uncertainty exists related to</td></tr><tr><td /><td>events or conditions that may cast significant doubt on the Group's and the Parent Company's ability to continue</td></tr><tr><td /><td>as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our</td></tr><tr><td /><td>auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to</td></tr><tr><td /><td>modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's</td></tr><tr><td /><td>report. However, future events or conditions may cause the Group and the Parent Company to cease to continue</td></tr><tr><td /><td>as a going concern.</td></tr><tr><td /><td>► Evaluate the overall presentation, structure and contents of the financial statements, including the note</td></tr><tr><td /><td>disclosures, and whether the financial statements represent the underlying transactions and events in a manner</td></tr><tr><td /><td>that gives a true and fair view.</td></tr><tr><td /><td>► Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business</td></tr><tr><td /><td>activities within the Group to express an opinion on the consolidated financial statements. We are responsible</td></tr><tr><td /><td>for the direction, supervision and performance of the group audit. We remain solely responsible for our audit</td></tr><tr><td /><td>opinion.</td></tr><tr><td /><td>We communicate with those charged with governance regarding, among other matters, the planned scope and timing</td></tr><tr><td /><td>of the audit and significant audit findings, including any significant deficiencies in internal control that we identify</td></tr><tr><td /><td>during our audit.</td></tr></table> Copenhagen 2023-05-25 EET A/S Bregnerødvej 133 D, DK-3460 Birkerød 36535326 2015-02-06 Birkerød, Denmark www.eetgroup.com 4545821919 2023-05-25 Jan Holmetoft Iversen http://esg.eetgroup.com/. <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>ESG report</td></tr><tr><td /><td>The statutory report on corporate responsibility, cf. Danish FSA §99a is present in EET Groups ESG report, which can</td></tr><tr><td /><td>be accessed through the following link: http://esg.eetgroup.com/.</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>Statutory report of the gender distribution in management, cf. §99b</td></tr><tr><td /><td>Board of Directors</td></tr><tr><td /><td>The Company aims to have a Board of Directors that can perform its duties in terms of strategy, management and</td></tr><tr><td /><td>control in an efficient manner.</td></tr><tr><td /><td>The Company will seek to appoint candidates with the best profiles and qualifications, as this is considered essential</td></tr><tr><td /><td>to the Company. In this connection, gender is considered when appointing candidates to the Board of Directors.</td></tr><tr><td /><td>However, recruitment criteria such as professional qualifications, industry experience, educational background, etc.,</td></tr><tr><td /><td>are also considered, as it is essential that all members of the Board of Directors possess the necessary competences.</td></tr><tr><td /><td>In the current financial year, there were no relevant candidates of the underrepresented gender for the Board. Thus,</td></tr><tr><td /><td>the target for 2024 is currently not fulfilled. The current board members are found to be the most suitable</td></tr><tr><td /><td>representatives based on experience and competencies.</td></tr><tr><td /><td>The target to be met by the annual general meeting in 2024 at the latest is 1 female and 2 males. The current gender</td></tr><tr><td /><td>composition of the Board of Directors appointed by the annual general meeting is 3 males.</td></tr><tr><td /><td>Other management levels</td></tr><tr><td /><td>The current gender composition at other management levels in Denmark is 20% females and 80% males. The other</td></tr><tr><td /><td>management is people with employee responsibilities reporting to Executive Board.</td></tr><tr><td /><td>The Company aims to create a good and diverse workplace that promotes women's and men's equal career</td></tr><tr><td /><td>opportunities, for instance through competency development, to increase the share of the under-represented gender</td></tr><tr><td /><td>at other management levels in Denmark.</td></tr><tr><td /><td>In this connection, gender is considered. However, recruitment criteria such as professional qualifications, industry</td></tr><tr><td /><td>experience, educational background, etc., are also considered, as it is essential that all members employees possess</td></tr><tr><td /><td>the necessary competences.</td></tr></table> 620000 505000 8000 58000 49000 7000 7000 -14000 21000 0 9000 12000 6000 6000 0 6000 0 0 -1000 5000 0 5000 7000 7000 -3000 3000 -1000 15000 21000 0 8000 1000 2000 0 0 3000 0 -5000 181000 110000 4000 -12000 0 0 42000 13000 0 24000 20000 Årsrapport 30700228 EY Godkendt Revisionspartnerselskab Cortex Park Vest 3 5230 Odense M xWizard version 1.1.1209.0, by EasyX Aps. www.easyx.eu 2021-01-01 2021-12-31 Revisionspåtegning Grundlag for konklusion Konklusion 0 Søren Drewsen CEO Jan Holmetoft Iversen CFO Claus Ring Chair Dennis Funch Jensen Søren Drewsen 574000 464000 7000 52000 51000 6000 7000 -2000 36000 1000 7000 30000 8000 22000 3000 19000 0 0 0 22000 3000 19000 6000 7000 0 -14000 17000 -9000 0 7000 10000 -17000 2000 14000 2000 0 0 -18000 10000 8000 4000 4000 0 0 0 2000 0 0 -8000 95000 0 39000 1000 7000 5000 1000 1000 149000 69000 94000 1000 2000 1000 24000 191000 340000 151000 0 151000 0 54000 2000 1000 2000 10000 2000 71000 16000 4000 66000 3000 2000 1000 26000 0 118000 189000 340000 24000 92000 0 46000 1000 8000 8000 1000 1000 157000 70000 96000 0 3000 1000 4000 174000 331000 75000 4000 79000 110000 0 5000 1000 0 12000 4000 132000 4000 4000 76000 5000 0 4000 27000 0 120000 252000 331000 4000 4000 12000 76000 76000 116000 13000 -53000 -846000 -899000 4212000 6629000 -3316000 56000 -3372000 -3372000 -3372000 -3372000 3869000 36000 0 0 5000 2923000 0 0 0 41833000 0 41883000 0 0 180000 180000 729000 144000 -693000 -106000 -799000 8000 37000 -828000 31000 -859000 -859000 -859000 -859000 -493000 -1168000 -3000 8000 36000 5000 -161000 0 0 0 161000 0 161000 0 176529000 23662000 200191000 2399000 163000 276000 2838000 203029000 146265000 146265000 54485000 54485000 85000 2194000 0 2279000 56764000 203029000 0 68963000 0 68963000 948000 0 58000 1006000 69969000 67144000 67144000 0 0 121000 0 2704000 2825000 2825000 69969000 0 0 0 EY Godkendt Revisionspartnerselskab 33946171 Ole Becker State Authorised Public Accountant mne33732