26454484 2022-12-31 26454484 2021-12-31 26454484 2020-12-31 26454484 2024-12-31 26454484 2023-12-31 26454484 2024-01-01 fsa:ContributedCapitalMember 26454484 2024-01-01 fsa:RetainedEarningsMember 26454484 2024-12-31 fsa:ContributedCapitalMember 26454484 2024-12-31 fsa:RetainedEarningsMember 26454484 2024-01-01 fsa:FixturesFittingsToolsAndEquipmentMember 26454484 2024-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 26454484 2024-01-01 fsa:DepositsLongtermInvestmentsAndReceivablesMember 26454484 2024-12-31 fsa:DepositsLongtermInvestmentsAndReceivablesMember 26454484 2024-01-01 2024-12-31 26454484 2024-01-01 2024-12-31 1 26454484 2024-01-01 2024-12-31 memberOfBoardIdentifier_executive_board_1 26454484 2024-01-01 2024-12-31 memberOfBoardIdentifier_board_of_director_1 26454484 2024-01-01 2024-12-31 memberOfBoardIdentifier_board_of_director_2 26454484 2024-01-01 2024-12-31 memberOfBoardIdentifier_board_of_director_3 26454484 2022-01-01 2022-12-31 26454484 2021-01-01 2021-12-31 26454484 2020-01-01 2020-12-31 26454484 2023-01-01 2023-12-31 26454484 2024-01-01 2024-12-31 fsa:ContributedCapitalMember 26454484 2024-01-01 2024-12-31 fsa:RetainedEarningsMember 26454484 2024-01-01 2024-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 26454484 2024-01-01 2024-12-31 fsa:DepositsLongtermInvestmentsAndReceivablesMember iso4217:DKK pure Årsrapport 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Strandvejen 44 2900 Hellerup 2024-01-01 2023-01-01 2024-12-31 2023-12-31 26454484 Easy Park A/S Sydhavns Plads 12, 2. 2450 København SV Gentofte www.easypark.dk PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab 33771231 Strandvejen 44 2900 Hellerup Denmark 39 45 39 45 koebenhavn@pwc.dk 2025-03-20 Cameron Denis Clayton Regnskabsklasse C, mellemstor virksomhed Revisionspåtegning The Executive Board and Board of Directors have today considered and adopted the Annual Report of Easy Park A/S for the financial year 1 January - 31 December 2024. 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 financial position at 31 December 2024 of the Company and of the results of the Company operations and cash flows for 2024. In our opinion, Management's Review includes a true and fair account of the matters addressed in the Review. We recommend that the Annual Report be adopted at the Annual General Meeting. 2025-03-20 Copenhagen Lotte Wøldiche Præstgaard CEO Cameron Denis Clayton Chairman Lotte Wøldiche Præstgaard Lena Birgitta Möllerstedt To the shareholder of Easy Park A/S Opinion In our opinion, the Financial Statements give a true and fair view of the financial position of the Company at 31 December 2024 and of the results of the Company´s operations and cash flows for the financial year 1 January - 31 December 2024 in accordance with the Danish Financial Statements Act. We have audited the Financial Statements of Easy Park A/S for the financial year 1 January - 31 December 2024, which comprise income statement, balance sheet, statement of changes in equity, cash flow statement and notes, including a summary of significant accounting policies (”the Financial Statements”). Basis for Opinion 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 Financial Statements” section of our report. We are independent of the Company in accordance with the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the 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 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 financial statements that are free from material misstatement, whether due to fraud or error. In preparing the Financial Statements, Management is responsible for assessing the 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 Financial Statements unless Management either intends to liquidate 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 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 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 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 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 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 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 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 Company to cease to continue as a going concern. Evaluate the overall presentation, structure and contents of the Financial Statements, including the disclosures, and whether the Financial Statements represent the underlying transactions and events in a manner that gives a true and fair view. 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. Management is responsible for Management’s Review. Our opinion on the 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 Financial Statements, our responsibility is to read Management’s Review and, in doing so, consider whether Management’s Review is materially inconsistent with the 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, in our view, Management’s Review is in accordance with the Financial Statements and has been prepared in accordance with the requirements of the Danish Financial Statements Act. We did not identify any material misstatement in Management’s Review. Hellerup 2025-03-20 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Flemming Eghoff State Authorised Public Accountant mne30221 28860000 33226000 49592000 7785000 10494000 27597000 7000 2276000 -73000 6067000 9952000 21352000 204162000 177981000 134816000 270000 219000 300000 1086000 486000 92112000 86046000 76094000 0 0 0 0 0 0 0 0 0 36 35 39 0.01 0.015 0.038 0.059 0.205 0.415 0.432 0.451 0.483 0.564 0.068 0.062 0.068 0.123 0.326 Key activities Easy Park A/S is a subsidiary of EasyPark Group AS and based in Copenhagen. The company develops, markets and sells mobile parking services and other mobile services. In addition, a business area has been established with the operation of digital parking license systems. Mobile parking allows drivers to start and end a parking via an app. Easy Park's service provides increased convenience and saves time and costs for the driver. For the parking operators, Easy Park A/S makes it possible to offer more services and reduced costs. The service is based on a central software solution.In December 2024, EasyPark Group expanded its operations through the acquisition of Flowbird. Together, the companies can meet cities' diverse mobility needs by integrating technology, data, insights and payment solutions.End of 2024, EasyPark Group was established in over 6,000 cities in more than 80 countries. Development in the year The income statement of the Company for 2024 shows a profit of DKK 6,928,181, and at 31 December 2024 the balance sheet of the Company shows a positive equity of DKK 104,886,785. The past year and follow-up on development expectations from last year The company's 2024 expansion efforts included extending its reach to new cities and partnering with more parking operators. Financial performance met the 2023 economic forecast. Special risks - operating risks and financial risks Foreign exchange risks The company has limited currency exposure as costs are in local currency. The company makes an assessment that the risk is limited and that there is no need for hedging. Credit risks Credit risk is limited as the number of clients is extensive and most customer invoices are of smaller amounts. Most private individuals pay through credit cards by which the transaction occurs on the following day. In an anomalous case when the transaction does not occur, the customer is prevented from using Easy Park’s services and is invoiced later. Targets and expectations for the year ahead The widespread adoption of mobile parking has made Easy Park a key player with extensive reach across countries. Easy Park's success stems from its integration of cutting-edge technology and ongoing enhancements to its mobile platform. The company anticipates strong growth in 2025, projecting increases in both revenue and expenditures. With solid financial footing, Easy Park's profit forecasts for 2025 and the next two years, driven by its strategic direction, point towards sustained expansion. These forecasts, including the anticipated outcomes for 2025, are in line with the performance in 2024. External environment The company's environmental impact is considered to be very low both in the future and at present. In addition, it can be mentioned that the service inherently contributes to a reduction in environmental impact in general, as cities can in the long term reduce their hardware in the form of traditional parking meters for parking, service of the same, and electricity consumption. Services such as "Find & Park" also reduce search traffic in the city and thus also reduce car emissions. Gender composition The company aims to be a workplace where there is full equality between women and men. Of the company's 60 employees, 24 are women. There is no difference in pay between women and men. Working time arrangements in the company follow from the various positions and are independent of gender. Uncertainty relating to recognition and measurement There has been no uncertainty regarding recognition and measurement in the Annual Report. Subsequent events No events materially affecting the assessment of the Annual Report have occurred after the balance sheet date. 31427786 27723182 28327893 23631333 502495 580621 339 0 2597059 3511228 6431641 4002439 70011 23773 8958689 7489894 2030508 1643586 6928181 5846308 6928181 5846308 369642 602682 369642 602682 863828 853125 863828 853125 1233470 1455807 40235479 35449999 203949774 183426009 7198358 5237597 115339 70268 0 1185345 251498950 225369218 251498950 225369218 252732420 226825025 500000 500000 104386785 97458604 104886785 97958604 93092096 82935467 39362854 36786450 248185 0 10315578 9144504 4826922 0 147845635 128866421 147845635 128866421 252732420 226825025 500000 97458604 0 6928181 500000 104386785 6928181 5846308 -3828288 -1754459 -11115381 -16814072 -8015488 -12722223 6431641 4002439 -70011 -23773 -1653858 -8743557 -642049 -1671360 -2295907 -10414917 -269794 -218965 -10703 -68100 -280497 -287065 2576404 10701982 2576404 10701982 0 0 0 0 0 0 24629388 20798097 2414664 1866802 288343 130646 995498 835788 28327893 23631333 45 40 For 2024 the remuneration to the Executive Board has not been disclosed in accordance with section 98 B(3) of the Danish Financial Statements Act.In 2023, remuneration to the Executive Board amounted to DKK 1,420k. 502495 580621 502495 580621 6422363 3954060 0 41123 9278 7256 6431641 4002439 53986 13315 16025 10458 70011 23773 2045164 1703702 -45071 -60116 30415 0 2030508 1643586 4722461 269794 2072495 2919760 4119779 502494 -2072155 2550118 369642 853125 10703 863828 863828 Prepayments consist of prepaid expenses concerning expenses in subsequent years. Deferred tax asset at 1 January 70268 10152 Amounts recognised in the income statement for the year 45071 60116 Deferred tax asset at 31 December 115339 70268 Recognition of deferred tax assets relates to temporary differences between accounting values and taxable values of assets which the Company expect to utilise in the coming financial years. Deferred income consists of payments received in respect of income in subsequent years. -6431641 -4002439 70011 23773 502834 580621 2030508 1643586 -3828288 -1754459 -27270006 -22928406 16154625 6114334 -11115381 -16814072 Rental and lease obligations Lease obligations under operating leases. Total future lease payments: Within 1 year 856250 856248 Between 1 and 5 years 642188 1498434 Total 1498438 2354682 Other contingent liabilities The company is per 31 December 2024 involved in a lawsuit. The outcome of this is not expected to have a significant impact on the company's financial resources. The company has provided guarantees for customer contracts with an amount of DKK 415k (2023: 405k.) Basis Controlling interest EasyPark Group AS EasyPark AS Ultimate Parent CompanyParent Company Transactions The Company has chosen only to disclose transactions which have not been made on an arm's length basis in accordance with section 98(c)(6) of the Danish Financial Statements Act. Consolidated Financial Statements The Company is included in the Group Annual Report of the Parent Company of the largest and smallest group: Name Place of registered office EasyPark Group AS Oslo, Norway The Group Annual Report of EasyPark Group AS may be obtained at the following address: Grensesvingen 60663 Gamle OsloNorway The Annual Report of Easy Park A/S for 2024 has been prepared in accordance with the provisions of the Danish Financial Statements Act applying to medium-sized enterprises of reporting class C. The accounting policies applied remain unchanged from last year. The Financial Statements for 2024 are presented in DKK. true Revenues are recognised in the income statement as earned. Furthermore, value adjustments of financial assets and liabilities measured at fair value or amortised cost are recognised. Moreover, all expenses incurred to achieve the earnings for the year are recognised in the income statement, including depreciation, amortisation, impairment losses and provisions as well as reversals due to changed accounting estimates of amounts that have previously been recognised in the income statement. Assets are recognised in the balance sheet when it is probable that future economic benefits attributable to the asset 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 out of the Company, and the value of the liability can be measured reliably. Assets and liabilities are initially measured at cost. Subsequently, assets and liabilities are measured as described for each item below. All leases are considered operating leases. Payments made under operating leases are recognised in the income statement on a straight-line basis over the lease term. Transactions in foreign currencies are translated at the exchange rates at the dates of transaction. Exchange differences arising due to differences between the transaction date rates and the rates at the dates of payment are recognised in financial income and expenses in the income statement. Where foreign exchange transactions are considered hedging of future cash flows, the value adjustments are recognised directly in equity. Receivables, payables and other monetary items in foreign currencies that have not been settled at the balance sheet date are translated at the exchange rates at the balance sheet date. Any differences between the exchange rates at the balance sheet date and the transaction date rates are recognised in financial income and expenses in the income statement; however, see the section on hedge accounting. Nettoomsætningen måles til det modtagne vederlag og indregnes eksklusive moms og med fradrag af rabatter i forbindelse med salget. SalgsomkostningerSalgsomkostninger indeholder det forbrug af direkte omkostninger, der er anvendt for at opnå virksomhedens nettoomsætning. Services are recognised at the rate of completion of the service, which means that revenue equals the selling price of the service completed for the year. Revenue is measured at the consideration received and is recognised exclusive of VAT and net of discounts relating to sales. Direct expenses primarily include operating expenses for the year, which is consumed to achieve revenue for the year. Andre eksterne omkostninger indeholder omfatter omkostninger vedrørende virksomhedens primære aktivitet, der er afholdt i årets løb, herunder omkostninger til salg, reklame, administration, lokaler, tab på debitorer m.v. Other external expenses comprise expenses for premises, sales as well as office expenses, etc. With reference to section 32 of the Danish Financial Statements Act, gross profit/loss is calculated as a summary of revenue, other operating income, direct expenses and other external expenses. 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 depreciation and impairment of property, plant and equipment. Other operating income and other operating expenses comprise items of a secondary nature to the main activities of the Company. Financial income and expenses are recognised in the income statement at the amounts relating to the financial year. Tax for the year consists of current tax for the year and deferred tax for the year. The tax attributable to the profit for year is recognised in the income statement, whereas the tax attributable to equity transactions is recognised directly in equity. Property, plant and equipment are measured at cost less accumulated depreciation and less any accumulated impairment losses. Cost comprises the cost of acquisition and expenses directly related to the acquisition up until the time when the asset is ready for use. Depreciation based on cost reduced by any residual value is calculated on a straight-line basis over the expected useful lives of the assets, which are: Other fixtures and fittings, tools and equipment 3-5 years The fixed assets’ residual values are determined at nil. Depreciation period and residual value are reassessed annually. The carrying amounts of intangible assets and property, plant and equipment and investments are reviewed on an annual basis to determine whether there is any indication of impairment other than that expressed by amortisation and depreciation. Other fixed asset investments consist of deposits. Receivables are measured in the balance sheet at the lower of amortised cost and net realisable value, which corresponds to nominal value less provisions for bad debts. Prepayments comprise prepaid expenses concerning rent, insurance premiums, subscriptions and interest. Deferred tax is measured on the basis of the tax rules and tax rates that will be effective under the legislation at the balance sheet date when the deferred tax is expected to crystallise as current tax. In cases where the computation of the tax base may be made according to alternative tax rules, deferred tax is measured on the basis of the intended use of the asset and settlement of the liability, respectively. Deferred tax assets, including the tax base of tax loss carry-forwards, are measured at the value at which the asset is expected to be realised, either by elimination in tax on future earnings or by set-off against deferred tax liabilities. Deferred tax assets and liabilities are offset within the same legal tax entity. Aktuelle skatteforpligtelser og tilgodehavende aktuel skat indregnes i balancen som beregnet skat af årets skattepligtige indkomst reguleret for skat af tidligere års skattepligtige indkomster samt for betalte acontoskatter. Tillæg og godtgørelse under acontoskatteordningen indregnes i resultatopgørelsen under finansielle poster. Current tax receivables and liabilities are recognised in the balance sheet at the amount calculated on the basis of the expected taxable income for the year adjusted for tax on taxable incomes for prior years. Tax receivables and liabilities are offset if there is a legally enforceable right of set-off and an intention to settle on a net basis or simultaneously. Debts are measured at amortised cost, substantially corresponding to nominal value. Deferred income comprises payments received in respect of income in subsequent years. The cash flow statement shows the Company´s cash flows for the year broken down by operating, investing and financing activities, changes for the year in cash and cash equivalents as well as the Company´s cash and cash equivalents at the beginning and end of the year. Cash flows from operating activities are calculated as the net profit/loss for the year adjusted for changes in working capital and non-cash operating items such as depreciation, amortisation and impairment losses, and provisions. Working capital comprises current assets less short-term debt excluding items included in cash and cash equivalents. Cash flows from investing activities comprise cash flows from acquisitions and disposals of intangible assets, property, plant and equipment as well as fixed asset investments. Cash flows from financing activities comprise cash flows from the raising and repayment of long-term debt as well as payments to and from shareholders. Cash and cash equivalents comprise ”Cash at bank and in hand”. The cash flow statement cannot be immediately derived from the published financial records. Return on assets Profit/loss of primary operations x 100 / Total assets at year end Solvency ratio Equity at year end x 100 / Total assets at year end Return on equity Net profit for the year x 100 / Average equity