32140270 2024-04-01 2025-03-31 32140270 2024-04-01 2025-03-31 1 32140270 2024-04-01 2025-03-31 1 32140270 2024-04-01 2025-03-31 1 32140270 2024-04-01 2025-03-31 2 32140270 2024-04-01 2025-03-31 3 32140270 2024-04-01 2025-03-31 4 32140270 2024-04-01 2025-03-31 5 32140270 2024-04-01 2025-03-31 6 32140270 2002-01-01 2002-12-31 32140270 2001-01-01 2001-12-31 32140270 2000-01-01 2000-12-31 32140270 2023-04-01 2024-03-31 32140270 2002-12-31 32140270 2001-12-31 32140270 2000-12-31 32140270 2025-03-31 32140270 2024-03-31 32140270 2024-04-01 d:ContributedCapitalMember 32140270 2024-04-01 d:ReserveForNetRevaluationAccordingToEquityMethodMember 32140270 2024-04-01 d:RetainedEarningsMember 32140270 2024-04-01 2025-03-31 d:ContributedCapitalMember 32140270 2024-04-01 2025-03-31 d:ReserveForNetRevaluationAccordingToEquityMethodMember 32140270 2024-04-01 2025-03-31 d:RetainedEarningsMember 32140270 2025-03-31 d:ContributedCapitalMember 32140270 2025-03-31 d:ReserveForNetRevaluationAccordingToEquityMethodMember 32140270 2025-03-31 d:RetainedEarningsMember 32140270 2024-04-01 d:InvestmentsInGroupEnterprisesMember 32140270 2023-04-01 d:InvestmentsInGroupEnterprisesMember 32140270 2024-04-01 2025-03-31 d:InvestmentsInGroupEnterprisesMember 32140270 2023-04-01 2024-03-31 d:InvestmentsInGroupEnterprisesMember 32140270 2025-03-31 d:InvestmentsInGroupEnterprisesMember 32140270 2024-03-31 d:InvestmentsInGroupEnterprisesMember 32140270 2024-04-01 2025-03-31 d:SubsidiaryMember 1 32140270 2025-03-31 d:SubsidiaryMember 1 32140270 2024-04-01 2025-03-31 d:SubsidiaryMember 2 32140270 2025-03-31 d:SubsidiaryMember 2 iso4217:DKK xbrli:pure 2025-06-25 DCC Holding A/S false DCC Holding A/S Nærum Hovedgade 8 KPMG DK Nærum Rudersdal 28 2024-04-01 8 Regnskabsklasse C, mellemstor virksomhed 25578198 Nærum Hovedgade Årsrapport 32140270 2850 Nærum 2025-03-31 2023-04-01 2024-03-31 32140270 DK-2850 DK Danmark +45 45580100 www.dccenergi.dk Danske Bank Accura Advokataktieselskab David Olafsson State Authorised Public Accountant Dampfærgevej DK-2100 København Danmark Lone Søgaard Lundin true Revisionspåtegning CaseWare-FSR false false false The Board of Directors and executive board have today discussed and approved the annual report of DCC Holding A/S for the financial year 1 April 2024 - 31 March 2025. 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 company's financial position at 31 March 2025 and of the results of the company's operations for the financial year 1 April 2024 - 31 March 2025. 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. Daniel Hedegaard Andersen Director Christian Frederik Heise chairman Conor Joseph Murphy Daniel Hedegaard Andersen Lone Søgaard Lundin Michael Kruse Bak Susanne Riis Vang To the shareholder of DCC Holding A/S Opinion We have audited the financial Statements of DCC Holding A/S for the financial year 1 April 2024 - 31 March 2025 comprising, income statement, balance sheet, statement of change in equity, and notes including accounting policies. The financial statements are prepared in accordance with the Danish Financial Statements Act.In our opinion, the financial statements give a true and fair view of the company's assets, liabilities and financial position at 31 March 2025, and of the results of the company’s operations for the financial year 1 April 2024 - 31 March 2025 in accordance with the Danish Financial Statements Act. 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 rules and 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 that 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 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 the additional requirements in Denmark will always detect a material misstatement when it exists. Misstatements may 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 financial statement users made 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 alsoidentify and assess the risks of material misstatement of the 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 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. Statement on Management's reviewManagement is responsible for Management's review.Our opinion on the financial statements does not cover the 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 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.Moreover, it is our responsibility to consider whether the Management's review provides the information required under the Danish Financial Statements Act.Based on the work we have performed, 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. Copenhagen 2025-06-25 KPMG David Olafsson State Authorised Public Accountant mne19737 Seen 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. -168000 -142000 -142000 69261000 76591000 129118000 148190000 122370000 133871000 148309000 122426000 700743000 847193000 698708000 700638000 847088000 698696000 66.2 68.2 100.0 100.0 100.0 8.7 10.7 17.3 19.2 19.2 Business reviewDCC Holding A/S serves as holding company for the subsidiaries DCC Holding Denmark A/S and Socellekraft AS.    The subsidiary DCC Holding Denmark A/S is through its group of subsidiaries operating a nationwide network of petrol stations, sales and delivery of energy products and energy solutions as well as aviation fuel for Danish airports.   The subsidiary Solcellekraft AS is a full-service provider of complete solar panel systems for private homes and commercial buildings. Recognition and measurement uncertaintiesThe recognition and measurement of items in the annual report is not associated with any uncertainty. Unusual mattersThe financial position at 31 March 2025 and the results of its operations for the financial year ended 31 March 2025 are not affected by any unusual matters. Financial review The income statement for the year ended 31 March 2025 shows a profit of DKK'000 71,282, and the balance sheet at 31 March 2025 shows equity of DKK'000 853,231. The results rely directly on the results of the subsidiaries.The result of DCC Holding Denmark A/S for the year ended 31 March 2025 was below expectation, showing a profit of DKK'000 194,684. The profit of the year has improved compared to the previous year. However, the financial performance in certain subsidiaries was impacted by slower-than anticipated market development, and increased investments in key areas to support the execution of our 2030 strategy.   The financial result of Solcellekraft AS for the year ended 31 March 2025 did not meet expectations. The negative deviation is primarily impacted by a slowdown in the solar energy market, where reduced activity has impacted performance.   Management does not consider the financial performance satisfactory, but reasonable due to market changes and remains committed to executing the company’s strategy. Significant events occurring after the end of the financial yearNo events have occurred after the balance sheet date which could significantly affect the company's financial position. Objectives and outlook for the coming yearThe outlook is closely linked to the outlook for the subsidiary. The activity level and result for 2025/26 is expected to be at the same level as this year for DCC Holding Denmark A/S while the activity level and result for Solcellekraft AS is expected to increase compared to this year. The slowdown in the solar energy market is considered temporary and driven by external market conditions. Positive signals remain, as the Norwegian government maintains long-term ambitions for solar deployment, supporting expectations of a gradual market recovery. Research and development activities in or for the companyWe do not engage in research and development activities. -2028000 -146000 0 0 85972000 88325000 892000 122000 17603000 11856000 67233000 76445000 -4049000 -2607000 71282000 79052000 -34028000 88325000 105310000 -9273000 1076489000 1107998000 1076489000 1107998000 1076489000 1107998000 131634000 951000 5717000 6029000 0 2607000 74350000 25587000 211701000 35174000 211701000 35174000 1288190000 1143172000 501000 501000 634847000 666356000 217883000 112573000 853231000 779430000 423453000 363735000 11401000 0 105000 7000 434959000 363742000 434959000 363742000 1288190000 1143172000 501000 666356000 112573000 0 1041000 0 0 1478000 0 -34028000 105310000 501000 634847000 217883000 The annual report of DCC Holding A/S for 2023/24 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 are consistent with those of last year.The annual report for 2024/25 is pre­sen­ted in DKK'000. Pursuant to sections §112, of the Danish Financial Statements Act, the company has not prepared consolidated financial statements. Income 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 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 from the company 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. In pursuance of section 32 of the Danish Financial Statements Act, the company does not disclose its revenue. Gross profit reflects an aggregation of revenue and other external expenses. Financial income and expenses are recognised in the income statement at the amounts relating to the financial year. Net financials include interest income and expenses, realised and unrealised exchange rate adjustments as well as surcharges and allowances under the advance-payment-of-tax scheme. The proportionate share of the profit for the year of subsidiaries is recognised in the company's income statement after full elimination of intra-group profits/losses. The company is subject to the Danish rules on compulsory joint taxation.On payment of joint taxation contributions, the current Danish income tax is allocated between the jointly taxed entities in proportion to their taxable income. Entities with tax losses receive joint taxation contributions from entities that have been able to use tax losses to reduce their own taxable profits.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. Equity investments in subsidiaries are accounted for using the equity method as a consolidation method.   This entails that the equity investments are measured at the proportionate share of the entities' equity value plus non-amortised goodwill and less or plus unrealised intra-group gains and losses.Net revaluations of investments in subsidiaries, associates and participating interests are taken to the net revaluation reserve according to the equity method in so far as that the carrying amount exceeds the cost. Dividends from subsidiaries which are expected to be declared before the annual report of  DCC Holding A/S is adopted are not taken to the net revaluation reserve. 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. Reserve for net revaluation according to the equity methodThe reserve for net revaluation according to the equity method in the company's financial statements comprises net revaluation of investments in subsidiaries, participating interests and associates relative to the cost. As management company, DCC Holding A/S is liable for payment of the subsidiaries' corporate income taxes to the tax authorities.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.Joint taxation contributions payable and receivable are recognised in the balance sheet as 'Joint taxation contributions receivable' or 'Joint taxation contributions payable'.Deferred tax is measured according to the liability method in respect of temporary differences between the carrying amount of assets and liabilities and their tax base, calculated on the basis of the planned use of the asset and settlement of the liability, respectively. Deferred tax is measured at net realisable value.Deferred tax is measured according to the tax rules and at the tax rates applicable in the respective countries at the balance sheet date when the deferred tax is expected to crystallise as current tax. Deferred tax adjustments resulting from changes in tax rates are recognised in the income statement, with the exception of items taken directly to equity. Liabilities which includes payable to affiliated entities and other payables are measured at amortised cost, which is usually equivalent to nominal value. 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. No cash flow statement has been prepared for the parent company, as the parent company's cash flows are included in the consolidated cash flow statement, see section 86(4) of the Danish Financial Statements Act. No cash flow statement has been prepared for the parent company, as the parent company's cash flows are included in the consolidated cash flow statement, see section 86(4) of the Danish Financial Statements Act. Solvency ratioEquity at year end x 100Total assetsReturn on equityNet profit for the year x 100Average equity 0 0 The Company does not have any employees as the Company’s activities are handled by the Management and employees employed in the affiliate, DCC Energi Center A/S.   According to section 98 B(3) of the Danish Financial Act, renumeration to the executive board has not been disclosed. 754000 122000 138000 0 892000 122000 16773000 11515000 808000 341000 22000 0 17603000 11856000 -4049000 -2607000 441642000 105738000 0 335904000 441642000 441642000 666356000 578291000 1041000 -260000 110647000 102219000 -120000000 0 1478000 0 -24675000 -13894000 634847000 666356000 1076489000 1107998000 NameRegistered officeOwnership interestEquityProfit/loss for the yearDCC Holding Denmark A/SRudersdal60%1,303,547194,684Solcellekraft ASStraume, Norway100%37,612-6,163 DCC Holding Denmark A/S Rudersdal 60 1303547 194684 Solcellekraft AS Straume, Norway 100 37612 -6163 The company is jointly taxed with other Danish entities in the DCC Group and is liable with the other jointly taxed companies for total corporation tax and any liabilities to pay withholding taxes on interest, royalties and for dividends for the jointly taxed companies.Contingent liabilities related to group enterprisesOther contingent liabilities not recognised in balance sheetThe company has issued a parent company guarantee of NOK'000 3,000 to a supplier to its group enterprises. DCC Energy Limited DCC House Leopardstown Road Foxrock Dublin 18, IrelandDCC Holding Denmark A/S Nærum Hovedgade 8, 2850 Nærum   DCC Energi Center A/S Nærum Hovedgade 8, 2850 Nærum   DCC Energi Danmark A/S Nærum Hovedgade 8, 2850 Nærum   DCC Energi Mobility A/S Nærum Hovedgade 8, 2850 Nærum   DCC & Shell Aviation Denmark A/S Nærum Hovedgade 8, 2850 Nærum   DCC Biogas Holding A/S Nærum Hovedgade 8, 2850 Nærum   DCC Energiservice Center A/S Nærum Hovedgade 8, 2850 Nærum   Exertis Captech Denmark ApS Nærum Hovedgade 8, 2850 Nærum   Solcellekraft AS Idrettsvegen 103, 5353 Straume, Norway   DCC plc and subsidiaries and associated thereto DCC House, Leopardstown Road, Foxrock, Dublin 18, Ireland   Members of the Board of Directors and the Executive Board are mentioned under company details.According to the company’s register of shareholders, the following shareholder holds at least 5% of the votes or at least 5% of the share capital: Transactions entered into related parties:Other external costs purchased from related parties DKK'000 100.Financial expenses to related parties DKK'000 16,773.Financial income to related parties DKK'000 754.The Company has a total cash of DKK'000 131,633 included in the DCC Group's international cashpool, which is included in the balance sheet item "Receivables from affiliated entities".