35954716 2021-01-01 2021-12-31 35954716 2020-01-01 2020-12-31 35954716 2021-12-31 35954716 2020-12-31 35954716 2021-01-01 35954716 2020-01-01 35954716 2021-01-01 2021-12-31 ifrs-full:SeparateMember 35954716 2020-01-01 2020-12-31 ifrs-full:SeparateMember 35954716 2021-12-31 ifrs-full:SeparateMember 35954716 2020-12-31 ifrs-full:SeparateMember 35954716 2021-01-01 ifrs-full:SeparateMember 35954716 2020-01-01 ifrs-full:SeparateMember 35954716 2021-01-01 2021-12-31 0 35954716 2021-01-01 2021-12-31 1 35954716 2021-01-01 2021-12-31 0 35954716 2021-01-01 2021-12-31 1 35954716 2021-01-01 2021-12-31 2 35954716 2021-01-01 2021-12-31 3 35954716 2021-01-01 2021-12-31 4 35954716 2021-01-01 2021-12-31 5 35954716 2021-01-01 2021-12-31 6 35954716 2021-01-01 2021-12-31 7 35954716 2021-01-01 2021-12-31 0 35954716 2021-01-01 2021-12-31 1 iso4217:DKK xbrli:pure 2021-01-01 2021-12-31 -65759000000 443000000 47285000000 18917000000 8688000000 5237000000 4992000000 2220000000 85000000 -64000000 201000000 2952000000 98000000 564000000 2486000000 544000000 1942000000 1942000000 -3000000 -68000000 42000000 78000000 49000000 1991000000 2280000000 -91000000 4675000000 78000000 564000000 470000000 3719000000 175000000 2080000000 15000000 148000000 192000000 1214000000 0 -628000000 -54000000 631000000 5000000 0 1601000000 200000000 -2481000000 610000000 0 <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 colspan="1">Management's statement</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 colspan="1">The Board of Directors and the Executive Board have today discussed and approved the annual report of Salling Group A/S for the financial year 1 January – 31 December 2021.</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 colspan="1">The annual report has been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the EU and additional requirements in 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 colspan="1">It is our opinion that the consolidated financial statements and the parent company financial statements give a true and fair view of the Group's and the company's assets, liabilities and financial position at 31 December 2021 and of the results of the Group's and the company's operations and cash flows for the financial year 1 January – 31 December 2021.</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 colspan="1">Further, in our opinion, the Management's review gives a fair review of the development in the Group's and the company's operations and financial conditions, the results of the Group's and the company's operations, cash flows and financial position as well as a description of the most significant risks and uncertainty factors that the Group and the company faces.</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 colspan="1">We recommend that the annual report be approved at the annual general meeting.</td></tr></table> Brabrand 2022-04-28 <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 colspan="1">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 colspan="1">To the shareholders of Salling Group 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 colspan="1">Opinion</td></tr><tr><td colspan="1">We have audited the consolidated financial statements and the parent company financial statements of Salling Group A/S for the financial year 1 January – 31 December 2021, which comprise income statement, statement of comprehensive income, balance sheet, statement of changes in equity, cash flow statement and notes, including accounting policies, for the Group and the parent company. The consolidated financial statements and the parent company financial statements are prepared in accordance with International Financial Reporting Standards as adopted by the EU and additional requirements of the Danish Financial Statements Act.</td></tr><tr><td colspan="1">In our opinion, the consolidated financial statements and the parent company financial statements give a true and fair view of the financial position of the Group and the parent company at 31 December 2021 and of the results of the Group's and the parent company's operations and cash flows for the financial year 1 January – 31 December 2021 in accordance with International Financial Reporting Standards as adopted 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 colspan="1">Basis for opinion</td></tr><tr><td colspan="1">We conducted our audit in accordance with International Standards on Auditing (ISAs) and 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 the parent company financial statements" (hereinafter collectively referred to as "the financial statements") section of our report. We believe that 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 colspan="1">Independence</td></tr><tr><td colspan="1">We are independent of the Group 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.</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 colspan="1">Statement on the Management's review</td></tr><tr><td colspan="1">Management is responsible for the Management's review.</td></tr><tr><td colspan="1">Our opinion on the financial statements does not cover the Management's review, and we do not express any assurance conclusion thereon.</td></tr><tr><td colspan="1">In connection with our audit of the financial statements, our responsibility is to read the Management's review and, in doing so, consider whether the Management's review is materially inconsistent with the financial statements or our knowledge obtained during the audit, or otherwise appears to be materially misstated.</td></tr><tr><td colspan="1">Moreover, it is our responsibility to consider whether the Management's review provides the information required under the Danish Financial Statements Act.</td></tr><tr><td colspan="1">Based on our procedures, we conclude that the 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 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 colspan="1">Management's responsibilities for the financial statements</td></tr><tr><td colspan="1">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 International Financial Reporting Standards as adopted by the EU and additional requirements of 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.</td></tr><tr><td colspan="1">In preparing the 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 financial statements unless Management either intends to 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 colspan="1">Auditor's responsibilities for the audit of the financial statements</td></tr><tr><td colspan="1">Our objectives are to obtain reasonable assurance as to 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 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 the financial statements.</td></tr><tr><td colspan="1">As part of an audit conducted in accordance with ISAs and additional requirements applicable in Denmark, we exercise professional judgement and maintain professional scepticism throughout the audit. We also</td></tr><tr><td colspan="1">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.</td></tr><tr><td colspan="1">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.</td></tr><tr><td colspan="1">Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management.</td></tr><tr><td colspan="1">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 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 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 parent company to cease to continue as a going concern.</td></tr><tr><td colspan="1">Evaluate the overall presentation, structure and contents of the financial statements, including the note disclosures, and whether the financial statements represent the underlying transactions and events in a manner that gives a true and fair view.</td></tr><tr><td colspan="1">Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.</td></tr><tr><td colspan="1">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.</td></tr></table> Aarhus C 2022-04-28 <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 colspan="1">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 colspan="1">Social responsibility and diversity in management</td></tr><tr><td colspan="1">Salling Group considers social responsibility and diversity in management to be important for the Group. Regarding the efforts in 2021 please refer to our report on social responsibility in pursuance of sections 99a and 99b of the Danish Financial Statements Act. The report is available on</td></tr></table> https://sallinggroup.com/rapporter/csr-report-2021 Salling Group A/S 35954716 2022-04-28 Jakob Røddik Thøgersen Årsrapport 30700228 EY Godkendt Revisionspartnerselskab Cortex Park Vest 3 5230 Odense M 2020-01-01 2020-12-31 Revisionspåtegning Grundlag for konklusion Konklusion 32899 -60489000000 366000000 43794000000 17061000000 7845000000 4514000000 4702000000 1878000000 19000000 -13000000 0 2818000000 38000000 517000000 2339000000 487000000 1852000000 1852000000 2000000 -271000000 -43000000 80000000 -232000000 1620000000 2371000000 601000000 5311000000 49000000 512000000 563000000 4285000000 272000000 1906000000 4000000 31000000 42000000 5061000000 10000000 -3831000000 -14000000 536000000 81000000 61000000 0 200000000 -608000000 -154000000 -5000000 57000000 844000000 84000000 84000000 38000000 1107000000 18606000000 2668000000 705000000 285000000 5872000000 304000000 0 88000000 29635000000 5322000000 85000000 10000000 599000000 140000000 7000000 2766000000 2139000000 16000000 11084000000 40719000000 524000000 9261000000 -184000000 -400000000 200000000 9401000000 9401000000 243000000 589000000 158000000 7462000000 5689000000 155000000 0 14296000000 44000000 150000000 701000000 2000000 637000000 12611000000 63000000 2801000000 13000000 17022000000 31318000000 40719000000 2137000000 131000000 842000000 155000000 93000000 42000000 1263000000 15893000000 2224000000 498000000 274000000 5105000000 299000000 41000000 75000000 25672000000 5084000000 72000000 149000000 507000000 65000000 0 4452000000 1528000000 4000000 11861000000 37533000000 524000000 7522000000 -304000000 -332000000 200000000 7610000000 7610000000 254000000 524000000 153000000 7520000000 4866000000 311000000 619000000 14247000000 37000000 269000000 600000000 1000000 699000000 11558000000 41000000 2423000000 48000000 15676000000 29923000000 37533000000 1527000000 1527000000 1686000000 -47012000000 241000000 32612000000 14641000000 6705000000 3614000000 4322000000 2067000000 83000000 -13000000 -9000000 2176000000 785000000 108000000 776000000 2293000000 351000000 1942000000 1942000000 200000000 1742000000 -3000000 -68000000 120000000 49000000 1991000000 2012000000 -69000000 4236000000 88000000 779000000 298000000 3247000000 167000000 607000000 20000000 238000000 2446000000 650000000 1184000000 2887000000 0 -1085000000 445000000 -1244000000 5000000 1046000000 200000000 -2050000000 112000000 -45478000000 206000000 32099000000 13585000000 6342000000 3342000000 3901000000 1969000000 -2000000 2000000 0 1932000000 960000000 52000000 804000000 2140000000 288000000 1852000000 1852000000 200000000 1652000000 2000000 -271000000 37000000 -232000000 1620000000 1746000000 389000000 4275000000 63000000 800000000 398000000 3140000000 261000000 761000000 0 41000000 0 1427000000 5046000000 3404000000 10000000 -1268000000 732000000 -1282000000 256000000 981000000 200000000 -1987000000 -115000000 18000000 829000000 81000000 21000000 2000000 951000000 430000000 1687000000 169000000 71000000 11434000000 123000000 12910000000 138000000 25000000 27938000000 4028000000 42000000 0 406000000 84000000 1042000000 2456000000 1396000000 9454000000 37392000000 524000000 1654000000 -400000000 497000000 6926000000 200000000 9401000000 243000000 0 39000000 193000000 11342000000 151000000 0 11968000000 7000000 5000000 1156000000 2351000000 10202000000 19000000 2275000000 8000000 16023000000 27991000000 37392000000 1396000000 92000000 832000000 148000000 23000000 1000000 1096000000 438000000 1656000000 148000000 53000000 11880000000 127000000 9867000000 333000000 0 25598000000 4151000000 48000000 100000000 298000000 35000000 280000000 4159000000 1284000000 10355000000 35953000000 524000000 1360000000 -332000000 465000000 5393000000 200000000 7610000000 254000000 41000000 34000000 198000000 11625000000 308000000 618000000 13078000000 6000000 5000000 1061000000 2414000000 9667000000 0 2049000000 63000000 15265000000 28343000000 35953000000 1284000000 1284000000 1399000000 Per Bank CEO Anders Hagh CFO Bjørn Gulden Chairman Jens Bjerg Sørensen Marianne Kirkegaard Knudsen Freddy Mikael Sobin Thomas Carsten Alexander Tochtermann Helle Bech Employee representative Morten Agerholm Employee representative Lars Lippert Laursen Employee representative EY Godkendt Revisionspartnerselskab 30700228 Jes Lauritzen State Authorised Public Accountant mne10121 Jonas Busk State Authorised Public Accountant mne42771 30700228 EY Godkendt Revisionspartnerselskab