11798691 2024-01-01 2024-12-31 11798691 2023-01-01 2023-12-31 11798691 2024-12-31 11798691 2023-12-31 11798691 2022-12-31 fsa:ContributedCapitalMember 11798691 2022-12-31 fsa:RetainedEarningsMember 11798691 2023-01-01 2023-12-31 fsa:RetainedEarningsMember 11798691 2022-12-31 11798691 2023-12-31 fsa:ContributedCapitalMember 11798691 2024-12-31 fsa:ContributedCapitalMember 11798691 2023-12-31 fsa:RetainedEarningsMember 11798691 2024-01-01 2024-12-31 fsa:RetainedEarningsMember 11798691 2024-12-31 fsa:RetainedEarningsMember 11798691 2024-01-01 2024-12-31 1 11798691 2024-01-01 2024-12-31 1 11798691 2024-01-01 2024-12-31 2 11798691 2024-01-01 2024-12-31 3 xbrli:pure iso4217:DKK Charlotte Bertelsen COMAR Engineers A/S Parallelvej 2 2800 Kongens Lyngby 56 40 00 00 Kongens Lyngby Statement by Board of Directors and Executive Board Statement by Board of Directors and Executive Board Today, the Board of Directors and the Executive Board considered and approved the annual report for the financial year 1 January – 31 December 2024 of COMAR Engineers A/S. The annual report has been prepared in accordance with the Danish Financial Statements Act. In our opinion, the accounting policies applied are appropriate and the accounting estimates made are adequate. Furthermore, we find the overall presentation of the financial statement to be true and fair. In our opinion, the annual report gives a true and fair view of the company's assets, liabilities, equity and the activities for the financial year 1 January – 31 December 2024 in accordance with the Danish Financial Statements Act. In our opinion, the management's review gives a fair presentation of the issues covered and describes the company's most material risks and uncertainties. The annual report is recommended for approval at the annual general meeting. The annual general meeting has decided that the company's annual report should not be audited. The conditions for omitting audit have been met. The conditions for omitting audit have been met. Kongens Lyngby, Michael Bindseil Chief Executive Officer Marius Weydahl Berg Jens Højgaard Christoffersen Natalie G. Shaverdian Riise-Knudsen Chair Management review Development in activities and financial matters The profit for the year for the fiscal year 1 January to 31 December 2024 is DKK -42,938 and the total balance at 31 December 2024 is DKK 625,315 with an equity of DKK 620,918. Events after the balance sheet date No events of material importance to the company’s financial statements have occurred after the reporting date at 31 December 2024. The company's principal services The company's principal activity is to act as a holding company in the COWI Group. Accounting policies Reporting Class The 2024 annual report for COMAR Engineers A/S has been prepared in accordance with the provisions of the Danish Financial Statements Act for medium-sized enterprises in reporting class B. Reporting currency translation The financial statements for the company are presented in Danish kroner (DKK). The functional currency is DKK. Transactions in foreign currencies are initially translated into the primary economic environment in which the company operates (the functional currency), applying rates approximating the exchange rates at the transaction date. Exchange rate adjustments arising due to differences between the rates at the transaction date and the rates at the payment date are recognised in financial income or financial costs in the income statement. Receivables, payables and other monetary items in foreign currencies not settled at the balance sheet date are translated at exchange rates prevailing at the balance sheet date. Exchange rate adjustments arising due to differences between the rates at the balance sheet date and the transaction date are recognised as financial income or financial costs in the income statement. Recognition and measurement Income is recognised in the income statement as earned. Costs incurred in generating the revenue for the year are recognised in the income statement, including amortisation, depreciation and impairment losses. 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 out of the company and the value of the liability can be measured reliably. On initial recognition, assets and liabilities are measured at cost. Subsequently, assets and liabilities are measured as described for each individual item below. Certain financial assets and liabilities are measured at amortised cost to achieve a constant effective interest rate over the life of the asset or liability. Amortised cost is stated as original cost less any repayments plus or minus the cumulative amortisation of any difference between cost and nominal amount. In this way, capital losses and gains are amortised over the life of the asset or liability. Recognition and measurement take into consideration anticipated losses and risks that arise before the time of presentation of the annual report and that confirm or invalidate affairs and conditions existing at the balance sheet date. Income statement Operating profit The company has decided to aggregate certain items of the income statement in accordance with the provisions of Section 32 of the Danish Financial Statements Act. Operating profit consists of external costs. External costs External costs include administrative, office, marketing as well as other costs. Other operating income and costs Other operating income and costs include items of a secondary nature compared with the company’s main activities. This includes gains or losses from disposal of non-current assets and divestment of associates. Financial income and costs Financial income and costs include interest and realised and unrealised foreign exchange gains and losses. Income tax for the year The company is jointly taxed with the consolidated entities in the COWI Group, including foreign subsidiaries of COWI Holding A/S. Income tax for the year, consists of current tax for the year, and is recognised in the income statement. Balance sheet Investment in associates Associates are all entities over which the Group has significant but not controlling influence. Investments in associates are initially recognised at cost and subsequently measured according to the equity method based on the proportionate share of the entity’s net assets. The difference between the cost and the fair value of net assets of the acquired company at the date of acquisition is considered goodwill and reflected in ‘Investment in associates’ in the balance sheet and amortised on a straight-line basis over the estimated useful life of the investment. Dividends received from associates reduce the value of the investment. Associates with negative net asset value are recognised with zero value, but if the Group has a legal or constructive obligation to cover the associate’s negative balance, a provision is recognised. Profit after tax from investments in associates is recognised as a separate line in the income statement and includes the Group’s share of profit after tax less the amortisation of goodwill. Receivables Receivables are recognised initially at fair value and subsequently measured at net realisable value, corresponding to amortised cost less provision for bad and doubtful debts. Equity The management’s proposed dividend distribution for the year is disclosed as a separate equity item. Other provisions Other provisions include the company’s legal or constructive obligation to cover the associate’s negative balance. Financial liabilities Other accounts payable are measured at amortised cost, materially corresponding to nominal value. Current tax receivables and liabilities Current tax receivables and liabilities are recognised net in the balance sheet as tax computed on taxable income for the year adjusted for tax on taxable income for previous years. Contingent liabilities Contingent liabilities are not recognised in the balance sheet but are disclosed only in the notes. true 5710 4325 -5710 -4325 198547 0 -204257 -4325 157621 -38664 3078 0 1653 1722 -45211 -44711 -2273 -436 -42938 -44275 -42938 -44275 16 708168 16 708168 16 708168 624356 0 943 0 625299 0 625299 0 625315 708168 849000 849000 -228082 -185099 620918 663901 4397 0 4397 0 0 44267 0 44267 625315 708168 849000 -142778 706222 -44275 1954 1954 849000 -185099 -42938 -45 -45 849000 -228082 The share capital consists of shares of DKK 200,000 class A shares and DKK 649,000 class B shares. The shares consist of shares of each DKK 1,000 or multiples thereof. There have been no changes to the share capital for the last five years. DKK 2024 2023 1. Financial income Interest, group companies 3,078 0 Financial income3,078 0 2. Financial costs Interest, group companies Financial -1,653-1,722costs-1,653-1,722 3. Tax on profit for the year Tax current year 943 436 Adjustment tax prior year 1,330 0 Tax on profit for the year2,273 436 4. Investment in associatesName Home Ownership % COWI Tanzania Limited Tanzania 0,045000 COWI India Private India 0,000032 Limited 5. Related parties and ownershipCOWI A/S owns all shares in COMAR Engineers A/S.Apart from usual intercompany transactions and usual management remuneration, no transactions were made during the year with the Board of Directors, the Executive Board, managerial employees, principal shareholders, other group companies or other related parties. In accordance with section 98 C(7) of the Danish Financial Statements Act, transactions with related parties at arm's length have not been disclosed. 6. Contingent liabilitiesThe Group's companies are jointly and severally liable for tax on the Group's jointly-taxed income etc. The total amount appears in the annual report for COWI Holding A/S, which is the management company in the joint taxation. 7. Employee conditionsThe company had no paid employees in 2023 and 2024. Annual report No audit assistance ParsePort XBRL Converter 2024-01-01 2024-12-31 2023-01-01 2023-12-31 2025-04-04 38 Reporting class B 11798691 2025-04-04 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Strandvejen 44 2900 Hellerup