38143824 2022-01-01 2022-12-31 38143824 2022-01-01 2022-12-31 0 38143824 2022-01-01 2022-12-31 cmn:PreviousYearMember 38143824 2022-01-01 2022-12-31 cmn:TwoYearsAgoMember 38143824 2022-01-01 2022-12-31 cmn:ThreeYearsAgoMember 38143824 2022-01-01 2022-12-31 cmn:FourYearsAgoMember 38143824 2022-01-01 2022-12-31 0 38143824 2022-01-01 2022-12-31 cmn:PreviousYearMember 1 38143824 2022-01-01 2022-12-31 cmn:TwoYearsAgoMember 2 38143824 2022-01-01 2022-12-31 cmn:ThreeYearsAgoMember 3 38143824 2022-01-01 2022-12-31 cmn:FourYearsAgoMember 4 38143824 2022-01-01 2022-12-31 5 38143824 2022-01-01 2022-12-31 cmn:PreviousYearMember 6 38143824 2022-01-01 2022-12-31 cmn:TwoYearsAgoMember 7 38143824 2022-01-01 2022-12-31 cmn:ThreeYearsAgoMember 8 38143824 2022-01-01 2022-12-31 cmn:FourYearsAgoMember 9 38143824 2022-01-01 2022-12-31 10 38143824 2022-01-01 2022-12-31 cmn:PreviousYearMember 11 38143824 2022-01-01 2022-12-31 cmn:TwoYearsAgoMember 12 38143824 2022-01-01 2022-12-31 cmn:ThreeYearsAgoMember 13 38143824 2022-01-01 2022-12-31 cmn:FourYearsAgoMember 14 38143824 2022-01-01 2022-12-31 15 38143824 2022-01-01 2022-12-31 cmn:PreviousYearMember 16 38143824 2022-01-01 2022-12-31 cmn:TwoYearsAgoMember 17 38143824 2022-01-01 2022-12-31 cmn:ThreeYearsAgoMember 18 38143824 2022-01-01 2022-12-31 cmn:FourYearsAgoMember 19 38143824 2022-01-01 2022-12-31 20 38143824 2022-01-01 2022-12-31 cmn:PreviousYearMember 21 38143824 2022-01-01 2022-12-31 cmn:TwoYearsAgoMember 22 38143824 2022-01-01 2022-12-31 cmn:ThreeYearsAgoMember 23 38143824 2022-01-01 2022-12-31 cmn:FourYearsAgoMember 24 38143824 2022-12-31 38143824 2022-12-31 cmn:PreviousYearMember 38143824 2022-12-31 cmn:TwoYearsAgoMember 38143824 2022-12-31 cmn:ThreeYearsAgoMember 38143824 2022-12-31 cmn:FourYearsAgoMember 38143824 2022-01-01 2022-12-31 25 38143824 2022-01-01 2022-12-31 cmn:PreviousYearMember 26 38143824 2022-01-01 2022-12-31 cmn:TwoYearsAgoMember 27 38143824 2022-01-01 2022-12-31 cmn:ThreeYearsAgoMember 28 38143824 2022-01-01 2022-12-31 cmn:FourYearsAgoMember 29 38143824 2022-01-01 2022-12-31 30 38143824 2022-01-01 2022-12-31 cmn:PreviousYearMember 31 38143824 2022-01-01 2022-12-31 cmn:TwoYearsAgoMember 32 38143824 2022-01-01 2022-12-31 cmn:ThreeYearsAgoMember 33 38143824 2022-01-01 2022-12-31 cmn:FourYearsAgoMember 34 38143824 2022-01-01 2022-12-31 35 38143824 2022-01-01 2022-12-31 cmn:PreviousYearMember 36 38143824 2022-01-01 2022-12-31 cmn:TwoYearsAgoMember 37 38143824 2022-01-01 2022-12-31 cmn:ThreeYearsAgoMember 38 38143824 2022-01-01 2022-12-31 cmn:FourYearsAgoMember 39 38143824 2022-01-01 2022-12-31 40 38143824 2022-01-01 2022-12-31 cmn:PreviousYearMember 41 38143824 2022-01-01 2022-12-31 cmn:TwoYearsAgoMember 42 38143824 2022-01-01 2022-12-31 cmn:ThreeYearsAgoMember 43 38143824 2022-01-01 2022-12-31 cmn:FourYearsAgoMember 44 38143824 2021-01-01 2021-12-31 38143824 2021-12-31 38143824 2022-01-01 2022-12-31 fsa:TransferredToReserveForDevelopmentExpenditureMember 38143824 2021-01-01 2021-12-31 fsa:TransferredToReserveForDevelopmentExpenditureMember 38143824 2022-01-01 2022-12-31 fsa:RetainedEarningsMember 38143824 2021-01-01 2021-12-31 fsa:RetainedEarningsMember 38143824 2022-01-01 2022-12-31 0 iso4217:DKK xbrli:pure 2022-01-01 2022-12-31 38143824 2023-05-31 Peter Ørding Andreasen <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 by the Board of Directors and the Executive Board</td></tr><tr><td colspan="1">Today, the Executive Board has discussed and approved the annual report of Finans 247 ApS for the financial year</td></tr><tr><td colspan="1">1 January – 31 December 2022.</td></tr><tr><td colspan="1">The annual report has been prepared in accordance with the Danish Financial Statements Act.</td></tr><tr><td colspan="1">In my opinion, the financial statements give a true and fair view of the financial position of the Company at 31</td></tr><tr><td colspan="1">December 2022 and development in the Company’s operations and financial matters and the results of the</td></tr><tr><td colspan="1">Company’s operations and financial position. at 31 December 2022 and of the results of the Group’s and the</td></tr><tr><td colspan="1">Company’s operations for the financial year 1 January – 31 December 2022.</td></tr><tr><td colspan="1">Further, in our opinion, the Management's review gives a fair review of the matters discussed in the Management’s</td></tr><tr><td colspan="1">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">We recommend that the annual report be approved at the annual general meeting.</td></tr></table> Copenhagen 2023-05-31 <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 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 Finans 247 ApS</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 financial statements of Finans 247 ApS for the financial year 1 January – 31 December 2022,</td></tr><tr><td colspan="1">which comprise income statement, balance sheet, statement of changes in equity, cash flow statement and notes,</td></tr><tr><td colspan="1">including accounting policies. The financial statements are prepared in accordance with the Danish Financial</td></tr><tr><td colspan="1">Statements Act.</td></tr><tr><td colspan="1">In our opinion, the financial statements give a true and fair view of the financial position of the Company at</td></tr><tr><td colspan="1">31 December 2022 and of the results of the Company's operations and cash flows for the financial year 1 January –</td></tr><tr><td colspan="1">31 December 2022 in accordance with 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</td></tr><tr><td colspan="1">applicable in Denmark. Our responsibilities under those standards and requirements are further described in the</td></tr><tr><td colspan="1">"Auditor's responsibilities for the audit of the financial statements" section of our report. We believe that the audit</td></tr><tr><td colspan="1">evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.</td></tr><tr><td colspan="1">Independence</td></tr><tr><td colspan="1">We are independent of the Company in accordance with the International Ethics Standards Board for Accountants'</td></tr><tr><td colspan="1">International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements</td></tr><tr><td colspan="1">applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements</td></tr><tr><td colspan="1">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">Management's responsibilities for the financial statements</td></tr><tr><td colspan="1">Management is responsible for the preparation of financial statements that give a true and fair view in accordance</td></tr><tr><td colspan="1">with the Danish Financial Statements Act and for such internal control as Management determines is necessary to</td></tr><tr><td colspan="1">enable the preparation of financial statements that are free from material misstatement, whether due to fraud or</td></tr><tr><td colspan="1">error.</td></tr><tr><td colspan="1">In preparing the financial statements, Management is responsible for assessing the Company's ability to continue as</td></tr><tr><td colspan="1">a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of</td></tr><tr><td colspan="1">accounting in preparing the financial statements unless Management either intends to liquidate the Company or to</td></tr><tr><td colspan="1">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="3">Auditor's responsibilities for the audit of the financial statements</td></tr><tr><td colspan="3">Our objectives are to obtain reasonable assurance as to whether the financial statements as a whole are free from</td></tr><tr><td colspan="3">material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion.</td></tr><tr><td colspan="3">Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with</td></tr><tr><td colspan="3">ISAs and additional requirements applicable in Denmark will always detect a material misstatement when it exists.</td></tr><tr><td colspan="3">Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they</td></tr><tr><td colspan="3">could reasonably be expected to influence the economic decisions of users taken on the basis of the financial</td></tr><tr><td colspan="3">statements.</td></tr><tr><td colspan="3">As part of an audit conducted in accordance with ISAs and additional requirements applicable in Denmark, we exercise</td></tr><tr><td colspan="3">professional judgement and maintain professional scepticism throughout the audit. We also</td></tr><tr><td /><td>•</td><td>Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or</td></tr><tr><td /><td /><td>error, design and perform audit procedures responsive to those risks and obtain audit evidence that is</td></tr><tr><td /><td /><td>sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material</td></tr><tr><td /><td /><td>misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve</td></tr><tr><td /><td /><td>collusion, forgery, intentional omissions, misrepresentations or the override of internal control.</td></tr><tr><td /><td>•</td><td>Obtain an understanding of internal control relevant to the audit in order to design audit procedures that</td></tr><tr><td /><td /><td>are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness</td></tr><tr><td /><td /><td>of the Company's internal control.</td></tr><tr><td /><td>•</td><td>Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates</td></tr><tr><td /><td /><td>and related disclosures made by Management.</td></tr><tr><td /><td>•</td><td>·Conclude on the appropriateness of Management's use of the going concern basis of accounting in</td></tr><tr><td /><td /><td>preparing the financial statements and, based on the audit evidence obtained, whether a material</td></tr><tr><td /><td /><td>uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability</td></tr><tr><td /><td /><td>to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw</td></tr><tr><td /><td /><td>attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures</td></tr><tr><td /><td /><td>are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the</td></tr><tr><td /><td /><td>date of our auditor's report. However, future events or conditions may cause the Company to cease to</td></tr><tr><td /><td /><td>continue as a going concern.</td></tr><tr><td /><td>•</td><td>·Evaluate the overall presentation, structure and contents of the financial statements, including the note</td></tr><tr><td /><td /><td>disclosures, and whether the financial statements represent the underlying transactions and events in a</td></tr><tr><td /><td /><td>manner that gives a true and fair view.</td></tr><tr><td colspan="3">We communicate with those charged with governance regarding, among other matters, the planned scope and timing</td></tr><tr><td colspan="3">of the audit and significant audit findings, including any significant deficiencies in internal control that we identify</td></tr><tr><td colspan="3">during our audit.</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 form</td></tr><tr><td colspan="1">of 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,</td></tr><tr><td colspan="1">in doing so, consider whether the Management's review is materially inconsistent with the financial statements or</td></tr><tr><td colspan="1">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</td></tr><tr><td colspan="1">under the Danish Financial Statements Act.</td></tr><tr><td colspan="1">Based on the work we have performed, we conclude that the Management's review is in accordance with the financial</td></tr><tr><td colspan="1">statements and has been prepared in accordance with the requirements of the Danish Financial Statement Act. We</td></tr><tr><td colspan="1">did not identify any material misstatement of the Management's review.</td></tr></table> København 2023-05-31 Finans 247 ApS 1552 København 2 2016-10-26 Copenhagen www.lendomatic.com info@lendomatic.com 4571701060 Vendsyssel Sparekasse <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><br><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">Financial review</td></tr><tr><td colspan="1">The income statement for 2022 shows a loss of DKK 40,375 thousand against a profit of DKK 10,248 thousand last</td></tr><tr><td colspan="1">year. The Company expected a loss for 2022 dependent on timing of being able to operate under new Swedish CMC</td></tr><tr><td colspan="1">license. Out of the total loss in 2022 18.8mDKK is related to running business and 21.5mDKK the one-off write-down</td></tr><tr><td colspan="1">of client loans. The balance sheet shows on 31 December 2022 an equity of 21.4mDKK.</td></tr><tr><td colspan="1">The main reason for the loss is due to the one-off write down in client loan portfolio value combined with a low loan</td></tr><tr><td colspan="1">issuance activity.</td></tr><tr><td colspan="1">During the whole of 2022 monthly loan issuance has been close to zero. Sister company Finans 247 Sverige AB applied</td></tr><tr><td colspan="1">for a Credit Market Company (CMC) license in November 2021 and the license was obtained from Swedish</td></tr><tr><td colspan="1">Finansinspektionen in October 2022. Instead of focusing on growth, the Company has focused on development of</td></tr><tr><td colspan="1">new loan- and deposit products, continued focus on automating and digitizing the entire value chain and</td></tr><tr><td colspan="1">implementation of new policies and processes that are compliant to increased financial requirements that the CMC-</td></tr><tr><td colspan="1">license implies.</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">Financial highlights for the Group</td></tr></table><br><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">Key figures</td></tr></table><br><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 financial ratios stated under "Financial highlights" have been calculated as follows</td></tr><tr><td /><td>'Operating profit/loss</td><td>'Profit/loss before financial items</td></tr><tr><td /><td>'Return on assets</td><td>Profit/loss from operating activities X 100 /</td></tr><tr><td /><td /><td>'Average assets</td></tr><tr><td /><td>'Current ratio</td><td>Current assets X 100 /</td></tr><tr><td /><td /><td>'Current liabilities</td></tr><tr><td /><td>'Equity ratio</td><td>Equity, year-end X 100 /</td></tr><tr><td /><td /><td>Total equity and liabilities, year-end</td></tr><tr><td /><td>'Return on equity</td><td>Profit/loss after tax X 100 /</td></tr><tr><td /><td /><td>'Average equity</td></tr></table> 33429000 -17214000 -40375000 <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">Financial ratios</td></tr></table><br><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">For terms and definitions, please see the accounting policies.</td></tr></table> 0.119 -0.972 13 <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">Business review</td></tr><tr><td colspan="1">Finans 247 ApS provides affordable, easily and quickly accessible consumer finance products in Denmark for online</td></tr><tr><td colspan="1">customers who are inadequately served by the financial industry.</td></tr><tr><td colspan="1">Finans 247 ApS aspire to deliver the most flexible and transparent lending solutions to meet the needs of our</td></tr><tr><td colspan="1">customers and putting our customers first is our absolutely top priority.</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">Recognition and measurement uncertainties</td></tr><tr><td colspan="1">The most significant uncertainty relates to the recognition and measurement of the Company’s expected credit loss</td></tr><tr><td colspan="1">and its valuation of loan receivables. The Company has conducted a write-down on the value of its gross client loan</td></tr><tr><td colspan="1">portfolio of 36mDKK. Write-down is taken over other operating expenses, resulting in a gross loss for the financial</td></tr><tr><td colspan="1">year. The write-down of client loan value has resulted in a positive release in loan loss provisions of 14.5mDKK</td></tr><tr><td colspan="1">effecting other operating expenses. Total net effect to the profit and loss statement for the financial year is 21.5mDKK.</td></tr><tr><td colspan="1">The adjustment covers multiple years.</td></tr><tr><td colspan="1">There are two reasons for the write-down. The first reason concerns client accounts that are transferred from early</td></tr><tr><td colspan="1">collection to late collection, a process which has been outsourced to external partners. In early collection accrued</td></tr><tr><td colspan="1">interest is applied to the full balance (principal, interest and fees), whereas our collection partners apply accrued</td></tr><tr><td colspan="1">interest only to the principal part, the write-down reflects the Company’s adjustment to accounting in line with the</td></tr><tr><td colspan="1">stricter approach employed by external partners. The Second reason applies to loan batches which will be three years</td></tr><tr><td colspan="1">or older in February 2023, where a penalty interest considerably higher than what is standard today has been applied.</td></tr><tr><td colspan="1">Danish law has changed since these accounts were onboarded and it cannot be expected that the penalty interest</td></tr><tr><td colspan="1">applied to customers according to the agreement will hold in court, therefore an appropriate impairment was applied</td></tr><tr><td colspan="1">to these accounts.</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">Knowledge resources</td></tr><tr><td colspan="1">The Company’s business model relies on highly digitized solutions to acquire and onboard customers and to manage</td></tr><tr><td colspan="1">certain loan events and transactions. The IT infrastructure that supports these processes is therefore key, and system</td></tr><tr><td colspan="1">architects, front- and backend developers and Dev. Ops staff are critical resources. To ensure the Company’s</td></tr><tr><td colspan="1">operations perform as intended and are resilient to potential adverse events, the Company’s IT infrastructure,</td></tr><tr><td colspan="1">resources and processes have been carefully documented, and all new code is thoroughly reviewed before being</td></tr><tr><td colspan="1">launched.</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">Financial risks and use of financial instruments</td></tr><tr><td colspan="1">The Company faces a number of risk factors that could potentially impact its future growth, activities, financial</td></tr><tr><td colspan="1">position and results. The description below is not exhaustive, but covers the most relevant risks.</td></tr><tr><td colspan="1">Credit risk</td></tr><tr><td colspan="1">As a lending company, the Company is naturally exposed to a level of credit risk. That risk is relatively high given that</td></tr><tr><td colspan="1">the Company specializes in providing smaller consumer finance loans without collateral. While the Company uses its</td></tr><tr><td colspan="1">technologies to minimize risk exposure and collect non-performing loans, it still faces a significant risk of losses on a</td></tr><tr><td colspan="1">portion of the loans it grants. This risk is reflected in the credit loss provisions, based on historic, behavioural and</td></tr><tr><td colspan="1">statistical evidence as at the date of the closing of the financial accounts.</td></tr><tr><td colspan="1">Operational risk</td></tr><tr><td colspan="1">The Company could theoretically be exposed to unforeseen losses due to inappropriate, inadequate or failed internal</td></tr><tr><td colspan="1">processes, people, system errors or external events. The Company’s evolving risk management framework helps</td></tr><tr><td colspan="1">ensure proper safeguards are in place to protect the Company and itsoperations against such risks.</td></tr><tr><td colspan="1">Liquidity and funding risk</td></tr><tr><td colspan="1">The Company is funded via equity and debt instruments, and it is therefore exposed to liquidity risks were it not able</td></tr><tr><td colspan="1">to fulfil its payment obligation as they fall due.</td></tr><tr><td colspan="1">Impact on the external environment</td></tr><tr><td colspan="1">The Company provides affordable, easily and quickly accessible consumer finance products in Denmark for online</td></tr><tr><td colspan="1">customers who are inadequately served by the financial industry.</td></tr><tr><td colspan="1">The Company has therefore assessed that its operations does not constitute activities that require it to report on</td></tr><tr><td colspan="1">impact on the external environment.</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">Research and development activities</td></tr><tr><td colspan="1">The Company’s internal research and development activities are directed at key areas where the Company can most</td></tr><tr><td colspan="1">clearly differentiate itself from its competitors, such as: digitizing and automating its processes; deploying machine</td></tr><tr><td colspan="1">learning solutions to perform credit assessments of its customers; and combining several unrelated systems, sources</td></tr><tr><td colspan="1">of data and services into clear, transparent and userfriendly loan products and loan processes for its users.</td></tr><tr><td colspan="1">The Company also leverages external partnerships and capabilities to further improve its services, including for its</td></tr><tr><td colspan="1">client acquisition, credit decisioning and loan-delivery systems, as well as its payment infrastructure.</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">Statutory CSR report</td></tr><tr><td colspan="1">The Company has not drawn up any CSR policy.</td></tr><tr><td colspan="1">The Company provides affordable, easily and quickly accessible consumer finance products in Denmark for online</td></tr><tr><td colspan="1">customers who are inadequately served by the financial industry.</td></tr><tr><td colspan="1">The Company has made a risk assessment of its activities, and no material risks within corporate social responsibility</td></tr><tr><td colspan="1">were identified. Therefore, policies involving social and employee conditions, environment, climate, human rights</td></tr><tr><td colspan="1">and anti-corruption are not prepared.</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">Account of the gender composition of Management, cf §99b</td></tr><tr><td colspan="1">As the Company’s management comprise of one executive and no Board of directors, no target figures and policies</td></tr><tr><td colspan="1">for the gender composition cf., the Act of Gender Equality has been set.</td></tr><tr><td colspan="1">Furthermore, as the Company has below 50 employees a policy for the gender compositions in other managerial</td></tr><tr><td colspan="1">position have not been prepared.</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">Data ethics</td></tr><tr><td colspan="1">The use of data is at the centre of the Company’s operations. The Company only uses data from the clients themselves,</td></tr><tr><td colspan="1">trusted 3rd part data provides and publicly available data, and has policies, processes, and IT systems in place to</td></tr><tr><td colspan="1">ensure compliance with existing regulations.</td></tr><tr><td colspan="1">On this basis the Company has made a risk assessment of its activities related to data ethics, and no material risks</td></tr><tr><td colspan="1">within this area were identified. Therefore, no data ethics policy has been prepared. Financial risks and use of financial</td></tr><tr><td colspan="1">instruments</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">Events after the balance sheet date</td></tr><tr><td colspan="1">No events that could materially affect the Company’s financial position have occurred in the period up to the</td></tr><tr><td colspan="1">presentation of the annual 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">Outlook</td></tr><tr><td colspan="1">At a group level a strategic decision was taken early 2021 to apply for a CMC license in Sweden, to allow deposit-</td></tr><tr><td colspan="1">taking in addition to issuing loans. The license was obtained in October 2022.</td></tr><tr><td colspan="1">This has been a focus area throughout the financial year 2022 at group level. Work is now carried out to transform</td></tr><tr><td colspan="1">the Danish business, with the active part of Finans 247 ApS becoming part of the Swedish CMC company as a branch</td></tr><tr><td colspan="1">and operating under this license.</td></tr><tr><td colspan="1">The Company expects a loss for 2023. The size of the loss is dependent on the timing of being able to operate under</td></tr><tr><td colspan="1">new Swedish CMC license and thereby replace substantial part of existing funding with deposit funding. Expected</td></tr><tr><td colspan="1">budgeted loss for 2023 amounts to nearly 10mDKK.</td></tr></table> 0 36556000 -3127000 7938000 1908000 9408000 408000 0 17622000 -39595000 780000 <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 width="100%" colspan="5" align="left" valign="middle" ><b>Statement of changes in equity</b></td></tr><tr><td colspan="5"></td></tr><tr><td width="38%" ></td><td width="15%" ></td><td width="15%" colspan="1" align="right" valign="middle" ><b>Reserve for</b></td><td width="15%" colspan="1" align="right" valign="middle" ><b></b></td><td width="17%" colspan="1" align="right" valign="middle" ><b></b></td></tr><tr><td width="38%" ></td><td width="15%" ></td><td width="15%" colspan="1" align="right" valign="middle" ><b>development</b></td><td width="15%" colspan="1" align="right" valign="middle" ><b>Retained</b></td><td width="17%" colspan="1" align="right" valign="middle" ><b></b></td></tr><tr><td width="38%" colspan="1" align="left" valign="middle" ><b>DKK'000</b></td><td width="15%" colspan="1" align="right" valign="middle" ><b>Share capital</b></td><td width="15%" colspan="1" align="right" valign="middle" ><b>costs</b></td><td width="15%" colspan="1" align="right" valign="middle" ><b>earnings</b></td><td width="17%" colspan="1" align="right" valign="middle" ><b>Total</b></td></tr><tr><td colspan="5"></td></tr><tr><td width="38%" colspan="1" align="left" valign="middle" >Equity at 1 January 2022</td><td width="15%" align="right" valign="middle" >50</td><td width="15%" align="right" valign="middle" >4.510</td><td width="15%" align="right" valign="middle" >57.047</td><td width="17%" align="right" valign="middle" >61.607</td></tr><tr><td width="38%" colspan="1" align="left" valign="middle" >Fusion effect Lån Penge ApS</td><td width="15%" colspan="1" align="right" valign="middle" >-</td><td width="15%" colspan="1" align="right" valign="middle" >-</td><td width="15%" align="right" valign="middle" >203</td><td width="17%" align="right" valign="middle" >203</td></tr><tr><td width="38%" colspan="1" align="left" valign="middle" >Transfer, see “Appropriation of profit”</td><td width="15%" colspan="1" align="right" valign="middle" >-</td><td width="15%" align="right" valign="middle" >519</td><td width="15%" align="right" valign="middle" >-40.894</td><td width="17%" align="right" valign="middle" >-40.375</td></tr><tr><td width="38%" colspan="1" align="left" valign="middle" ><b>Equity at 31 December 2022</b></td><td width="15%" align="right" valign="middle" ><b>50</b></td><td width="15%" align="right" valign="middle" ><b>5.029</b></td><td width="15%" align="right" valign="middle" ><b>16.356</b></td><td width="17%" align="right" valign="middle" ><b>21.345</b></td></tr></table> Regnskabsklasse D <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>Accounting policies</td></tr><tr><td /><td>The annual report of Finans 247 ApS for 2022 has been prepared in accordance with the provisions in the Danish</td></tr><tr><td /><td>Financial Statements Act applying to reporting class D entities.</td></tr><tr><td /><td>The accounting policy is unchanged compared to last year.</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>Omission of a cash flow statement</td></tr><tr><td /><td>With reference to section 86(4) of the Danish Financial Statements Act, no cash flow statement has been prepared.</td></tr><tr><td /><td>The Company’s cash flows are reflected in the consolidated cash flow statement for the higher-ranking parent</td></tr><tr><td /><td>company Finans 247 Holding ApS.</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>Reporting currency</td></tr><tr><td /><td>The financial statements are presented in Danish kroner (DKK’000)</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>Income 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 /><td>Revenue</td></tr><tr><td /><td>Revenue comprises of interest and fees related to loans. Income is accrued over the period to which it relates and is</td></tr><tr><td /><td>included in the income statement at the amounts relating to the accounting period concerned.</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>Other operating income and operating expenses</td></tr><tr><td /><td>Other operating income and operating expenses comprise items of a secondary nature relative to the Company's core</td></tr><tr><td /><td>activities, including gains or losses on the sale of fixed assets.</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>Staff costs</td></tr><tr><td /><td>Staff costs include wages and salaries, including compensated absence and pension to the Company's employees, as</td></tr><tr><td /><td>well as other social security contributions, etc. The item is net of refunds from public authorities.</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>Amortisation/depreciation and impairment</td></tr><tr><td /><td>The item comprises amortisation/depreciation and impairment of intangible assets and property, plant and</td></tr><tr><td /><td>equipment.</td></tr><tr><td /><td>The cost of the expected residual value for completed development projects and acquired IP rights is amortised over</td></tr><tr><td /><td>the expected useful life. Acquired IP rights include patents, rights and licenses.</td></tr><tr><td /><td>The basis of amortisation, which is calculated as cost less any residual value, is amortised on a straight line basis over</td></tr><tr><td /><td>the expected useful life. The expected useful lives of the assets are as follows</td></tr><tr><td /><td>Specific internet domains 20 years</td></tr><tr><td /><td>All other Intangibles 3-5 years</td></tr><tr><td /><td>Where individual components of an item of property, plant and equipment have different useful lives, they are</td></tr><tr><td /><td>accounted for as separate items, which are depreciated separately.</td></tr><tr><td /><td>The basis of depreciation, which is calculated as cost less any residual value, is depreciated on a straight line basis</td></tr><tr><td /><td>over the expected useful life. The expected useful lives of the assets are as follows</td></tr><tr><td /><td>Fixtures and fittings, other plant and equipment3-5 years</td></tr><tr><td /><td>Leasehold improvements 5 years</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>Financial income and expenses</td></tr><tr><td /><td>Financial income and expenses are recognized in the income statement at the amounts that concern the financial</td></tr><tr><td /><td>year. Net financials include interest income and expenses as well as allowances and surcharges under the advance-</td></tr><tr><td /><td>payment-of-tax scheme, etc.</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>Tax</td></tr><tr><td /><td>Tax for the year includes current tax on the year’s expected taxable income and the year’s deferred tax adjustments.</td></tr><tr><td /><td>The portion of the tax for the year that relates to the profit/loss for the year is recognized in the income statement,</td></tr><tr><td /><td>whereas the portion that relates to transactions taken to equity is recognised in equity.</td></tr></table><br><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>Income taxes</td></tr><tr><td /><td>Current tax payables and receivables are recognized in the balance sheet as the estimated income tax charge for the</td></tr><tr><td /><td>year, adjusted for prior-year taxes and tax paid on account.</td></tr><tr><td /><td>Deferred tax is measured according to the liability method on all temporary differences between the carrying amount</td></tr><tr><td /><td>and the tax base of assets and liabilities. However, deferred tax is not recognized on temporary differences relating</td></tr><tr><td /><td>to goodwill which is not deductible for tax purposes and on office premises and other items where temporary</td></tr><tr><td /><td>differences, apart from business combinations, arise at the date of acquisition without affecting either profit/loss for</td></tr><tr><td /><td>the year or taxable income. Where alternative tax rules can be applied to determine the tax base, deferred tax is</td></tr><tr><td /><td>measured based on Management's intended use of the asset or settlement of the liability, respectively. Deferred tax</td></tr><tr><td /><td>is measured according to the tax rules and at the tax rates applicable at the balance sheet date when the deferred</td></tr><tr><td /><td>tax is expected to crystallize as current tax. Deferred tax assets are recognized at the expected value of their</td></tr><tr><td /><td>utilization; either as a set-off against tax on future income or as a set-off against deferred tax liabilities in the same</td></tr><tr><td /><td>legal tax entity. Changes in deferred tax due to changes in the tax rate are recognized in the income 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 /><td>Balance sheet</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>Intangible assets</td></tr><tr><td /><td>Goodwill is amortised over the expected economic life of the asset, measured by reference to Management’s</td></tr><tr><td /><td>experience in the individual business segments. Goodwill is amortised on a straight-line basis over the amortisation</td></tr><tr><td /><td>period, which is between 3 and 5 years.</td></tr><tr><td /><td>Development costs and internally accumulated rights are recognised in the income statement as costs in the year of</td></tr><tr><td /><td>acquisition.</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>Property, plant and equipment</td></tr><tr><td /><td>Items of property, plant and equipment are measured at cost less accumulated depreciation and impairment losses.</td></tr><tr><td /><td>Cost includes the acquisition price and costs directly related to the acquisition until the time at which the asset is</td></tr><tr><td /><td>ready to use.</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>Investments in subsidiaries</td></tr><tr><td /><td>Investments in subsidiaries and associates are measured at cost. Dividends received that exceed the</td></tr><tr><td /><td>accumulated earnings in the subsidiary or the associate during the period of ownership are treated as a</td></tr><tr><td /><td>reduction in the cost of acquisition.</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>Impairment of fixed assets</td></tr><tr><td /><td>The carrying amount of intangible assets, property, plant and equipment and investments in subsidiaries and</td></tr><tr><td /><td>associates is assessed for impairment on an annual basis.</td></tr><tr><td /><td>Impairment tests are conducted on assets or groups of assets when there is evidence of impairment. The carrying</td></tr><tr><td /><td>amount of impaired assets is reduced to the higher of the net selling price and the value in use (recoverable amount).</td></tr><tr><td /><td>The recoverable amount is the higher of the net selling price of an asset and its value in use. The value in use is</td></tr><tr><td /><td>calculated as the present value of the expected net cash flows from the use of the asset or the group of assets and</td></tr><tr><td /><td>the expected net cash flows from the disposal of the asset or the group of assets after the end of the useful life.</td></tr><tr><td /><td>Previously recognized impairment losses are reversed when the reason for recognition no longer exists.</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>Trade receivables</td></tr><tr><td /><td>Trade receivables are measured at amortized cost.</td></tr><tr><td /><td>The Company has chosen IAS 39</td></tr><tr><td /><td>as interpretation for impairment of financial receivables.</td></tr><tr><td /><td>An impairment loss is recognized if there is objective evidence that a receivable or a group of receivables is impaired.</td></tr><tr><td /><td>If there is objective evidence that an individual receivable has been impaired, an impairment loss is recognized on an</td></tr><tr><td /><td>individual basis.</td></tr><tr><td /><td>Receivables in respect of which there is no objective evidence of individual impairment are tested for objective</td></tr><tr><td /><td>evidence of impairment on a portfolio basis. The portfolios are primarily based on the debtors' domicile and credit</td></tr><tr><td /><td>ratings in line with the Company's risk management policy. The objective evidence applied to portfolios is determined</td></tr><tr><td /><td>based on historical loss experience.</td></tr><tr><td /><td>Impairment losses are calculated as the difference between the carrying amount of the receivables and the present</td></tr><tr><td /><td>value of the expected cash flows, including the realizable value of any collateral received. The effective interest rate</td></tr><tr><td /><td>for the individual receivable or portfolio is used as discount rate.</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>Prepayments</td></tr><tr><td /><td>Prepayments recognized under "Assets" comprise prepaid expenses regarding subsequent financial reporting years.</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>Cash</td></tr><tr><td /><td>Cash comprise cash and short-term securities which are readily convertible into cash and subject only to minor risks</td></tr><tr><td /><td>of changes in value.</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>Provisions</td></tr><tr><td /><td>Provisions comprise anticipated expenses relating to warranty commitments, onerous contracts, restructurings, etc.</td></tr><tr><td /><td>Provisions are recognized when the Company has a legal or constructive obligation at the balance sheet date as a</td></tr><tr><td /><td>result of a past event and it is probable that an outflow of resources embodying economic benefits will be required</td></tr><tr><td /><td>to settle the obligation.</td></tr><tr><td /><td>Provisions are measured at net realizable value or at fair value if the obligation is expected to be settled far into the</td></tr><tr><td /><td>future.</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>Other payables</td></tr><tr><td /><td>Financial liabilities are recognized at the date of borrowing at the net proceeds received less transaction costs paid.</td></tr><tr><td /><td>On subsequent recognition, financial liabilities are measured at amortized cost, corresponding to the capitalized</td></tr><tr><td /><td>value, using the effective interest rate. Accordingly, the difference between the proceeds and the nominal value is</td></tr><tr><td /><td>recognized in the income statement over the term of the loan. Financial liabilities also include the capitalized residual</td></tr><tr><td /><td>lease liability in respect of finance leases. Other liabilities are measured at net realizable value.</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>Segment information</td></tr><tr><td /><td>The allocation of revenue to activities and geographical markets is disclosed where these activities and markets differ</td></tr><tr><td /><td>significantly in the organization of sales of goods and services.</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"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Recognition and measurement uncertainties</b></td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The most significant uncertainty in the financial figures relates to the recognition and measurement of the Company’s</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >loan loss provisions and its impact on the valuation of loan receivables. At the end of 2022 the loan loss provisions</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >were re-calculated based on the Company’s proprietary credit model. The credit model incorporates the historical</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >performance of closed loans, behavioral and statistical evidence, and effective loan life cycles and is used for</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >estimating expected loan losses, reflected in loan loss provisions for the balance sheet date. The model was</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >implemented at the end of 2020 and is continuously updated based on the evolution of client and economic</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >conditions.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Furthermore, the valuation of intangible assets includes measurement uncertainties as the Company has realized a</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >loss in 2022 and as the Company expects a loss in 2023 due to the strategy of establishing the CMC in Sweden. As the</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Company expects commercial success when the CMC license is used with the developed loan- and deposit products,</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >an impairment as not been recognized, but as it depends on market conditions etc. this estimate is uncertain.</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"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Segment information</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Revenue is only from loan-activity to customers located in Denmark, which is the reason why further revenue</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >segmentation is not conducted.</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="3"></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Staff costs</b></td></tr><tr><td width="52%" colspan="1" align="left" valign="middle" ><b>DKK’000</b></td><td width="23%" align="right" valign="middle" ><b>2022</b></td><td width="25%" align="right" valign="middle" ><b>2021</b></td></tr><tr><td width="52%" colspan="1" align="left" valign="middle" >Wages and salaries</td><td width="23%" align="right" valign="middle" >6.731</td><td width="25%" align="right" valign="middle" >7.179</td></tr><tr><td width="52%" colspan="1" align="left" valign="middle" >Pensions</td><td width="23%" align="right" valign="middle" >621</td><td width="25%" align="right" valign="middle" >595</td></tr><tr><td width="52%" colspan="1" align="left" valign="middle" >Other social security costs</td><td width="23%" align="right" valign="middle" >587</td><td width="25%" align="right" valign="middle" >653</td></tr><tr><td width="52%" ></td><td width="23%" align="right" valign="middle" ><b>7.938</b></td><td width="25%" align="right" valign="middle" ><b>8.427</b></td></tr><tr><td colspan="3"></td></tr><tr><td width="52%" colspan="1" align="left" valign="middle" >Average number of full-time employees</td><td width="23%" align="right" valign="middle" >13</td><td width="25%" align="right" valign="middle" >18</td></tr><tr><td colspan="3"></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Staff costs includes management services fees in 2022 with 974t.kr (2021: 1,313t.kr). Total salary costs to the</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >executive board amounts to 1,084t.kr (2021: 1,235t.kr.) and pensions with 114t.kr (2021: 130t.kr). The executive</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >board’s remuneration is determined by the board of directors and consists solely of fixed salary, a contribution-based</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >pension scheme where payment is based on a fixed percentage on the salary and free usage of telephone.</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="3"></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Amortization/depreciation and impairment of intangible assets and property, plant and equipment</b></td></tr><tr><td width="52%" colspan="1" align="left" valign="middle" ><b>DKK’000</b></td><td width="23%" align="right" valign="middle" ><b>2022</b></td><td width="25%" align="right" valign="middle" ><b>2021</b></td></tr><tr><td width="52%" colspan="1" align="left" valign="middle" >Amortisation of intangible assets</td><td width="23%" align="right" valign="middle" >1.837</td><td width="25%" align="right" valign="middle" >1.415</td></tr><tr><td width="52%" colspan="1" align="left" valign="middle" >Impairment of intangible assets</td><td width="23%" align="right" valign="middle" >-50</td><td width="25%" align="right" valign="middle" >13</td></tr><tr><td width="52%" colspan="1" align="left" valign="middle" >Depreciation of property, plant and equipment</td><td width="23%" align="right" valign="middle" >121</td><td width="25%" align="right" valign="middle" >221</td></tr><tr><td width="52%" colspan="1" align="left" valign="middle" >Impairment of property, plant and equipment</td><td width="23%" colspan="1" align="right" valign="middle" >-</td><td width="25%" align="right" valign="middle" >3</td></tr><tr><td width="52%" ></td><td width="23%" align="right" valign="middle" ><b>1.908</b></td><td width="25%" align="right" valign="middle" ><b>1.652</b></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="3"></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Financial income</b></td></tr><tr><td width="52%" colspan="1" align="left" valign="middle" ><b>DKK’000</b></td><td width="23%" align="right" valign="middle" ><b>2022</b></td><td width="25%" align="right" valign="middle" ><b>2021</b></td></tr><tr><td width="52%" colspan="1" align="left" valign="middle" >Other financial income</td><td width="23%" align="right" valign="middle" >408</td><td width="25%" align="right" valign="middle" >66</td></tr><tr><td width="52%" ></td><td width="23%" align="right" valign="middle" ><b>408</b></td><td width="25%" align="right" valign="middle" ><b>66</b></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="3"></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Financial expenses</b></td></tr><tr><td width="52%" colspan="1" align="left" valign="middle" ><b>DKK’000</b></td><td width="23%" align="right" valign="middle" ><b>2022</b></td><td width="25%" align="right" valign="middle" ><b>2021</b></td></tr><tr><td width="52%" colspan="1" align="left" valign="middle" >Interest expenses, group entities</td><td width="23%" align="right" valign="middle" >15.595</td><td width="25%" align="right" valign="middle" >14.562</td></tr><tr><td width="52%" colspan="1" align="left" valign="middle" >Exchange losses</td><td width="23%" align="right" valign="middle" >52</td><td width="25%" align="right" valign="middle" >7</td></tr><tr><td width="52%" colspan="1" align="left" valign="middle" >Other financial expenses</td><td width="23%" align="right" valign="middle" >1.975</td><td width="25%" align="right" valign="middle" >2.323</td></tr><tr><td width="52%" ></td><td width="23%" align="right" valign="middle" ><b>17.622</b></td><td width="25%" align="right" valign="middle" ><b>16.892</b></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>Appropriation of profit, Recommended appropriation of profit</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="6"></td></tr><tr><td width="100%" colspan="6" align="left" valign="middle" ><b>Intangible assets</b></td></tr><tr><td width="100%" colspan="6" align="left" valign="middle" ><b>DKK’000</b></td></tr><tr><td width="30%" ></td><td width="13%" ></td><td width="13%" ></td><td width="13%" ></td><td width="13%" colspan="1" align="right" valign="middle" ><b>Development</b></td><td width="18%" colspan="1" align="right" valign="middle" ><b></b></td></tr><tr><td width="30%" ></td><td width="13%" ></td><td width="13%" ></td><td width="13%" ></td><td width="13%" colspan="1" align="right" valign="middle" ><b>projects in</b></td><td width="18%" colspan="1" align="right" valign="middle" ><b></b></td></tr><tr><td width="30%" ></td><td width="13%" ></td><td width="13%" ></td><td width="13%" ></td><td width="13%" colspan="1" align="right" valign="middle" ><b>progress and</b></td><td width="18%" colspan="1" align="right" valign="middle" ><b></b></td></tr><tr><td width="30%" ></td><td width="13%" colspan="1" align="right" valign="middle" ><b>Completed</b></td><td width="13%" colspan="1" align="right" valign="middle" ><b>Acquired</b></td><td width="13%" colspan="1" align="right" valign="middle" ><b></b></td><td width="13%" colspan="1" align="right" valign="middle" ><b>prepayments</b></td><td width="18%" colspan="1" align="right" valign="middle" ><b></b></td></tr><tr><td width="30%" ></td><td width="13%" colspan="1" align="right" valign="middle" ><b>development</b></td><td width="13%" colspan="1" align="right" valign="middle" ><b>projects,</b></td><td width="13%" colspan="1" align="right" valign="middle" ><b></b></td><td width="13%" colspan="1" align="right" valign="middle" ><b>for intangible</b></td><td width="18%" colspan="1" align="right" valign="middle" ><b></b></td></tr><tr><td width="30%" colspan="1" align="left" valign="middle" ><b>DKK’000</b></td><td width="13%" colspan="1" align="right" valign="middle" ><b>projects</b></td><td width="13%" colspan="1" align="right" valign="middle" ><b>domains etc</b></td><td width="13%" colspan="1" align="right" valign="middle" ><b>Goodwill</b></td><td width="13%" colspan="1" align="right" valign="middle" ><b>assets</b></td><td width="18%" colspan="1" align="right" valign="middle" ><b>Total</b></td></tr><tr><td colspan="6"></td></tr><tr><td width="30%" colspan="1" align="left" valign="middle" >Cost at 1 January 2022</td><td width="13%" align="right" valign="middle" >6.556</td><td width="13%" align="right" valign="middle" >471</td><td width="13%" align="right" valign="middle" >387</td><td width="13%" align="right" valign="middle" >1.002</td><td width="18%" align="right" valign="middle" >8.416</td></tr><tr><td width="30%" colspan="1" align="left" valign="middle" >Additions</td><td width="13%" align="right" valign="middle" >1.002</td><td width="13%" colspan="1" align="right" valign="middle" >-</td><td width="13%" colspan="1" align="right" valign="middle" >-</td><td width="13%" align="right" valign="middle" >2.700</td><td width="18%" align="right" valign="middle" >3.702</td></tr><tr><td width="30%" colspan="1" align="left" valign="middle" >Disposals</td><td width="13%" colspan="1" align="right" valign="middle" >-</td><td width="13%" colspan="1" align="right" valign="middle" >-</td><td width="13%" colspan="1" align="right" valign="middle" >-</td><td width="13%" align="right" valign="middle" >-1.002</td><td width="18%" align="right" valign="middle" >-1.002</td></tr><tr><td width="30%" colspan="1" align="left" valign="middle" ><b>Cost at 31 December 2022</b></td><td width="13%" align="right" valign="middle" ><b>7.558</b></td><td width="13%" align="right" valign="middle" ><b>471</b></td><td width="13%" align="right" valign="middle" ><b>387</b></td><td width="13%" align="right" valign="middle" ><b>2.700</b></td><td width="18%" align="right" valign="middle" ><b>11.116</b></td></tr><tr><td colspan="6"></td></tr><tr><td width="30%" colspan="1" align="left" valign="middle" >Impairment losses and amortization at 1 January 2022</td><td width="13%" align="right" valign="middle" >2.164</td><td width="13%" align="right" valign="middle" >262</td><td width="13%" align="right" valign="middle" >175</td><td width="13%" colspan="1" align="right" valign="middle" >-</td><td width="18%" align="right" valign="middle" >2.601</td></tr><tr><td width="30%" colspan="1" align="left" valign="middle" >Amortization for the year</td><td width="13%" align="right" valign="middle" >1.647</td><td width="13%" align="right" valign="middle" >108</td><td width="13%" align="right" valign="middle" >82</td><td width="13%" colspan="1" align="right" valign="middle" >-</td><td width="18%" align="right" valign="middle" >1.837</td></tr><tr><td width="30%" colspan="1" align="left" valign="middle" >Impairment losses and amortization at 31 December 2022</td><td width="13%" align="right" valign="middle" ><b>3.811</b></td><td width="13%" align="right" valign="middle" ><b>370</b></td><td width="13%" align="right" valign="middle" ><b>257</b></td><td width="13%" colspan="1" align="right" valign="middle" ><b>-</b></td><td width="18%" align="right" valign="middle" ><b>4.438</b></td></tr><tr><td width="30%" colspan="1" align="left" valign="middle" ><b>Carrying amount at 31 December 2022</b></td><td width="13%" align="right" valign="middle" ><b>3.747</b></td><td width="13%" align="right" valign="middle" ><b>101</b></td><td width="13%" align="right" valign="middle" ><b>130</b></td><td width="13%" align="right" valign="middle" ><b>2.700</b></td><td width="18%" align="right" valign="middle" ><b>6.678</b></td></tr><tr><td colspan="6"></td></tr><tr><td width="43%" colspan="2" align="left" valign="middle" >Depreciated over</td><td width="13%" colspan="1" align="right" valign="middle" >3-5 years</td><td width="13%" colspan="1" align="right" valign="middle" >5 years</td><td width="13%" colspan="1" align="right" valign="middle" ></td><td width="18%" colspan="1" align="right" valign="middle" ></td></tr><tr><td colspan="6"></td></tr><tr><td width="100%" colspan="6" align="left" valign="middle" ><b>Acquired projects, domains etc.</b></td></tr><tr><td width="100%" colspan="6" align="left" valign="middle" >January 1st 2022 Lån Penge ApS was merged into Finans 24/7 ApS. The costs per January 1st has been increased with</td></tr><tr><td width="100%" colspan="6" align="left" valign="middle" >471t.kr (Acquired projects, domains etc.) and the impairment losses and amortizations per January 1st 2022 has been</td></tr><tr><td width="100%" colspan="6" align="left" valign="middle" >increased with 262t.kr. (Acquired projects, domains etc.).</td></tr><tr><td width="100%" colspan="6" align="left" valign="middle" ><b>Completed development projects</b></td></tr><tr><td width="100%" colspan="6" align="left" valign="middle" >In 2022 a total of 1,002t.kr has been activated that related to projects that were in existence at the beginning of the</td></tr><tr><td width="100%" colspan="6" align="left" valign="middle" >year and put into production during 2022 (maintaining the existing amortization period).</td></tr><tr><td width="100%" colspan="6" align="left" valign="middle" ><b>Development projects in progress</b></td></tr><tr><td width="100%" colspan="6" align="left" valign="middle" >A total of 2,700t.kr relate to two projects that were active per 31 December 2022 but not yet finalized and therefore</td></tr><tr><td width="100%" colspan="6" align="left" valign="middle" >not put into production</td></tr><tr><td width="100%" colspan="6" align="left" valign="middle" >• Lomio SE/DK</td></tr><tr><td width="100%" colspan="6" align="left" valign="middle" >Development project Lomio SE/DK’s purpose is development of deposit- and loan product, digitalized onboarding</td></tr><tr><td width="100%" colspan="6" align="left" valign="middle" >process of customers, integrated credit scoring.</td></tr><tr><td width="100%" colspan="6" align="left" valign="middle" >The project is expected to be finalized Q3/2023.</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="4"></td></tr><tr><td width="100%" colspan="4" align="left" valign="middle" ><b>Property, plant and equipment</b></td></tr><tr><td colspan="4"></td></tr><tr><td width="42%" ></td><td width="19%" colspan="1" align="right" valign="middle" ><b>Fixtures and</b></td><td width="19%" colspan="1" align="right" valign="middle" ><b></b></td><td width="20%" colspan="1" align="right" valign="middle" ><b></b></td></tr><tr><td width="42%" ></td><td width="19%" colspan="1" align="right" valign="middle" ><b>fittings, other</b></td><td width="19%" colspan="1" align="right" valign="middle" ><b></b></td><td width="20%" colspan="1" align="right" valign="middle" ><b></b></td></tr><tr><td width="42%" ></td><td width="19%" colspan="1" align="right" valign="middle" ><b>plant and</b></td><td width="19%" colspan="1" align="right" valign="middle" ><b>Leasehold</b></td><td width="20%" colspan="1" align="right" valign="middle" ><b></b></td></tr><tr><td width="42%" colspan="1" align="left" valign="middle" ><b>DKK’000</b></td><td width="19%" colspan="1" align="right" valign="middle" ><b>equipment</b></td><td width="19%" colspan="1" align="right" valign="middle" ><b>improvements</b></td><td width="20%" colspan="1" align="right" valign="middle" ><b>Total</b></td></tr><tr><td colspan="4"></td></tr><tr><td width="42%" colspan="1" align="left" valign="middle" >Cost at 1 January 2022</td><td width="19%" align="right" valign="middle" >918</td><td width="19%" align="right" valign="middle" >16</td><td width="20%" align="right" valign="middle" >934</td></tr><tr><td width="42%" colspan="1" align="left" valign="middle" >Additions</td><td width="19%" colspan="1" align="right" valign="middle" >-</td><td width="19%" colspan="1" align="right" valign="middle" >-</td><td width="20%" colspan="1" align="right" valign="middle" >-</td></tr><tr><td width="42%" colspan="1" align="left" valign="middle" >Disposals</td><td width="19%" colspan="1" align="right" valign="middle" >-</td><td width="19%" colspan="1" align="right" valign="middle" >-</td><td width="20%" colspan="1" align="right" valign="middle" >-</td></tr><tr><td width="42%" colspan="1" align="left" valign="middle" ><b>Cost at 31 December 2022</b></td><td width="19%" align="right" valign="middle" ><b>918</b></td><td width="19%" align="right" valign="middle" ><b>16</b></td><td width="20%" align="right" valign="middle" ><b>934</b></td></tr><tr><td colspan="4"></td></tr><tr><td width="42%" colspan="1" align="left" valign="middle" >Impairment losses and depreciation at 1 January 2022</td><td width="19%" align="right" valign="middle" >634</td><td width="19%" align="right" valign="middle" >2</td><td width="20%" align="right" valign="middle" >636</td></tr><tr><td width="42%" colspan="1" align="left" valign="middle" >Depreciation</td><td width="19%" align="right" valign="middle" >118</td><td width="19%" align="right" valign="middle" >3</td><td width="20%" align="right" valign="middle" >121</td></tr><tr><td width="42%" colspan="1" align="left" valign="middle" >Impairment losses and depreciation at 31 December 2022</td><td width="19%" align="right" valign="middle" ><b>752</b></td><td width="19%" align="right" valign="middle" ><b>5</b></td><td width="20%" align="right" valign="middle" ><b>757</b></td></tr><tr><td width="42%" colspan="1" align="left" valign="middle" ><b>Carrying amount at 31 December 2022</b></td><td width="19%" align="right" valign="middle" ><b>166</b></td><td width="19%" align="right" valign="middle" ><b>11</b></td><td width="20%" align="right" valign="middle" ><b>177</b></td></tr><tr><td colspan="4"></td></tr><tr><td width="42%" colspan="1" align="left" valign="middle" >Depreciated over</td><td width="19%" colspan="1" align="right" valign="middle" >3-5 years</td><td width="19%" colspan="1" align="right" valign="middle" >5 years</td><td width="20%" colspan="1" align="right" valign="middle" ></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="4"></td></tr><tr><td width="100%" colspan="4" align="left" valign="middle" ><b>Investments</b></td></tr><tr><td colspan="4"></td></tr><tr><td width="42%" ></td><td width="19%" colspan="1" align="right" valign="middle" ><b>Investments in</b></td><td width="19%" colspan="1" align="right" valign="middle" ><b>Deposits,</b></td><td width="20%" colspan="1" align="right" valign="middle" ><b></b></td></tr><tr><td width="42%" colspan="1" align="left" valign="middle" ><b>DKK’000</b></td><td width="19%" colspan="1" align="right" valign="middle" ><b>group enterprises</b></td><td width="19%" colspan="1" align="right" valign="middle" ><b>investments</b></td><td width="20%" colspan="1" align="right" valign="middle" ><b>Total</b></td></tr><tr><td colspan="4"></td></tr><tr><td width="42%" colspan="1" align="left" valign="middle" >Cost at 1 January 2022</td><td width="19%" colspan="1" align="right" valign="middle" >-</td><td width="19%" colspan="1" align="right" valign="middle" >-</td><td width="20%" colspan="1" align="right" valign="middle" >-</td></tr><tr><td width="42%" colspan="1" align="left" valign="middle" >Additions</td><td width="19%" colspan="1" align="right" valign="middle" >-</td><td width="19%" align="right" valign="middle" >18</td><td width="20%" align="right" valign="middle" >18</td></tr><tr><td width="42%" colspan="1" align="left" valign="middle" >Disposals</td><td width="19%" colspan="1" align="right" valign="middle" >-</td><td width="19%" colspan="1" align="right" valign="middle" >-</td><td width="20%" colspan="1" align="right" valign="middle" >-</td></tr><tr><td width="42%" colspan="1" align="left" valign="middle" ><b>Cost at 31 December 2022</b></td><td width="19%" colspan="1" align="right" valign="middle" ><b>-</b></td><td width="19%" align="right" valign="middle" ><b>18</b></td><td width="20%" align="right" valign="middle" ><b>18</b></td></tr><tr><td colspan="4"></td></tr><tr><td width="42%" colspan="1" align="left" valign="middle" >Impairment losses and depreciation at 1 January 2022</td><td width="19%" colspan="1" align="right" valign="middle" >-</td><td width="19%" colspan="1" align="right" valign="middle" >-</td><td width="20%" colspan="1" align="right" valign="middle" >-</td></tr><tr><td width="42%" colspan="1" align="left" valign="middle" >Depreciation</td><td width="19%" colspan="1" align="right" valign="middle" >-</td><td width="19%" colspan="1" align="right" valign="middle" >-</td><td width="20%" colspan="1" align="right" valign="middle" >-</td></tr><tr><td width="42%" colspan="1" align="left" valign="middle" >Impairment losses and depreciation at 31 December 2022</td><td width="19%" colspan="1" align="right" valign="middle" ><b>-</b></td><td width="19%" colspan="1" align="right" valign="middle" ><b>-</b></td><td width="20%" colspan="1" align="right" valign="middle" ><b>-</b></td></tr><tr><td width="42%" colspan="1" align="left" valign="middle" ><b>Carrying amount at 31 December 2022</b></td><td width="19%" colspan="1" align="right" valign="middle" ><b>-</b></td><td width="19%" align="right" valign="middle" ><b>18</b></td><td width="20%" align="right" valign="middle" ><b>18</b></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"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Receivables</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The Company’s loan receivables comprise of loan receivables before write-off, 238,202t.kr (2021: 279,709t.kr and</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >write-off of -65,925t.kr (-73,149t.kr).</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"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Prepayments</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Prepayments include accrual of expenses relating to subsequent financial years related to the operation of the</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Company, DKK 618t.kr (2021: 560t.kr).</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"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Share capital</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The Company’s share capital has remained DKK 50t.kr in the past year.</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"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Deferred tax</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Deferred tax, DKK 780t.kr (2021: DKK 926t.kr) relates to timing differences between taxable treatment of depreciation</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >and amortization of intangibles compared to accounting treatment of depreciation and amortization of intangibles.</td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The value of the tax asset from this year’s loss amounts to approximately 9,000t.kr, which is not included in the</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >balance sheet, as there is uncertainty associated with the Group’s possibility of realization, by equalization in positive</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >taxable income in the future.</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"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Short-term part of long-term liabilities other than provisions</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >All of the Company’s liabilities are due within one year.</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="4"></td></tr><tr><td width="100%" colspan="4" align="left" valign="middle" ><b>Contractual obligations and contingencies, etc.</b></td></tr><tr><td width="100%" colspan="4" align="left" valign="middle" >The Company is jointly taxed with its parent, Finans 247 Holding A/S, which acts as management company, and is</td></tr><tr><td width="100%" colspan="4" align="left" valign="middle" >jointly and severally liable with other jointly taxed group entities for payment of income taxes as well as withholding</td></tr><tr><td width="100%" colspan="4" align="left" valign="middle" >taxes on interest, royalties and dividends falling due for payment.</td></tr><tr><td colspan="4"></td></tr><tr><td width="100%" colspan="4" align="left" valign="middle" ><b>Other financial obligations</b></td></tr><tr><td width="100%" colspan="4" align="left" valign="middle" >Other rent liabilities</td></tr><tr><td width="61%" colspan="2" align="left" valign="middle" >DKK’000</td><td width="19%" align="right" valign="middle" >2022</td><td width="20%" align="right" valign="middle" >2021</td></tr><tr><td width="61%" colspan="2" align="left" valign="middle" ><b>Carrying amount at 31 December 2022</b></td><td width="19%" colspan="1" align="right" valign="middle" >-</td><td width="20%" align="right" valign="middle" >803</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"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Collateral</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The Company has not provided any security or other collateral in assets at 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 colspan="3"></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Related parties</b></td></tr><tr><td colspan="3"></td></tr><tr><td width="52%" colspan="1" align="left" valign="middle" >Related party</td><td width="23%" colspan="1" align="left" valign="middle" >Domicile</td><td width="25%" colspan="1" align="left" valign="middle" >Basis for control</td></tr><tr><td width="52%" colspan="1" align="left" valign="middle" >Finans 24/7 Holding A/S</td><td width="23%" colspan="1" align="left" valign="middle" >Copenhagen</td><td width="25%" colspan="1" align="left" valign="middle" >Participating interest</td></tr><tr><td width="52%" ></td><td width="23%" ></td><td width="25%" colspan="1" align="left" valign="middle" >with 100% ownership</td></tr><tr><td width="52%" ></td><td width="23%" ></td><td width="25%" colspan="1" align="left" valign="middle" >and 100% voting power</td></tr><tr><td colspan="3"></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Information about consolidated financial statements.</td></tr><tr><td colspan="3"></td></tr><tr><td width="52%" ></td><td width="23%" ></td><td width="25%" colspan="1" align="left" valign="middle" >Requisitioning of the parent company’s</td></tr><tr><td width="52%" colspan="1" align="left" valign="middle" >Parent</td><td width="23%" colspan="1" align="left" valign="middle" >Domicile</td><td width="25%" colspan="1" align="left" valign="middle" >consolidated financial statements</td></tr><tr><td width="52%" colspan="1" align="left" valign="middle" >Finans 24/7 Holding A/S</td><td width="23%" colspan="1" align="left" valign="middle" >Copenhagen</td><td width="25%" colspan="1" align="left" valign="middle" >https://lendomatic.com</td></tr><tr><td width="52%" ></td><td width="23%" ></td><td width="25%" colspan="1" align="left" valign="middle" >/investor-relations/</td></tr><tr><td width="52%" ></td><td width="23%" ></td><td width="25%" colspan="1" align="left" valign="middle" >#financial-information</td></tr><tr><td colspan="3"></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Related party transactions</b></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >The Company solely discloses related party transactions that have not been carried out on an arm's length basis, cf.</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >section 98c(7) of the Danish Financial Statements Act. All transactions have been carried out on an arm's length basis.</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Information on the remuneration to management</b></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Information on the remuneration to Management appears from note 4, "Staff costs".</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="3"></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Fee to the auditors appointed by the company in general meeting</b></td></tr><tr><td width="52%" colspan="1" align="left" valign="middle" >Other financial income</td><td width="23%" align="right" valign="middle" >2022</td><td width="25%" align="right" valign="middle" >2021</td></tr><tr><td width="52%" colspan="1" align="left" valign="middle" >Total Fees to EY</td><td width="23%" align="right" valign="middle" ><b>550</b></td><td width="25%" align="right" valign="middle" ><b>593</b></td></tr><tr><td colspan="3"></td></tr><tr><td width="52%" colspan="1" align="left" valign="middle" >Statutory audit</td><td width="23%" align="right" valign="middle" >550</td><td width="25%" align="right" valign="middle" >460</td></tr><tr><td width="52%" colspan="1" align="left" valign="middle" >Assurance engagements</td><td width="23%" colspan="1" align="right" valign="middle" >-</td><td width="25%" align="right" valign="middle" >11</td></tr><tr><td width="52%" colspan="1" align="left" valign="middle" >Tax assistance</td><td width="23%" colspan="1" align="right" valign="middle" >-</td><td width="25%" align="right" valign="middle" >9</td></tr><tr><td width="52%" colspan="1" align="left" valign="middle" >Other assistance</td><td width="23%" colspan="1" align="right" valign="middle" >-</td><td width="25%" align="right" valign="middle" >113</td></tr><tr><td width="52%" ></td><td width="23%" align="right" valign="middle" ><b>550</b></td><td width="25%" align="right" valign="middle" ><b>593</b></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"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Events after the balance sheet date</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >No events that could materially affect the Company’s financial position have occurred in the period up to the</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >presentation of the report.</td></tr></table> Årsrapport 38143824 Finans 247 ApS Vester Voldgade 83, 2 1552 København V xWizard version 1.1.1209.2, by EasyX Aps. www.easyx.eu 2021-01-01 2021-12-31 Revisionspåtegning Grundlag for konklusion Konklusion Peter Ørding Andreasen CEO 57067000 -16826000 10248000 0.285 0.181 18 107836000 -17468000 20254000 0.242 0.491 29 141097000 -15764000 21726000 0.167 1.074 29 85457000 -7282000 8694000 0.079 1.729 11 Gross profit -3127000 Gross profit 49974000 Gross profit 76084000 Gross profit 98906000 Gross profit 23885000 Profit before interest and tax (EBIT) -22381000 Profit before interest and tax (EBIT) 30614000 Profit before interest and tax (EBIT) 42387000 Profit before interest and tax (EBIT) 43618000 Profit before interest and tax (EBIT) 18610000 Profit/loss before tax -39595000 Profit/loss before tax 13738000 Profit/loss before tax 24919000 Profit/loss before tax 27854000 Profit/loss before tax 11156000 Fixed assets 6873000 Fixed assets 5904000 Fixed assets 5294000 Fixed assets 4135000 Fixed assets 756000 Non-fixed assets 173467000 Non-fixed assets 210600000 Non-fixed assets 206751000 Non-fixed assets 182109000 Non-fixed assets 117930000 180340000 21435000 3747000 101000 130000 2700000 6678000 166000 11000 177000 18000 6873000 172277000 0 155000 618000 173050000 417000 173467000 50000 5029000 16356000 780000 780000 9082000 9082000 11479000 559000 130927000 3490000 2588000 149043000 158125000 180340000 216504000 61607000 212045000 51359000 186244000 31101000 118686000 9375000 provisions 9082000 provisions 915000 provisions 0 provisions 0 provisions 21500000 Current liabilities other than provisions 149043000 Current liabilities other than provisions 153522000 Current liabilities other than provisions 159847000 Current liabilities other than provisions 155140000 Current liabilities other than provisions 109308000 Return on assets -0.113 Return on assets 0.185 Return on assets 0.305 Return on assets 0.536 Return on assets 0.642 Current ratio 1.21 Current ratio 1.372 Current ratio 1.293 Current ratio 1.174 Current ratio 1.079 57067000 261000 7354000 49974000 8427000 1652000 9281000 66000 50000 16892000 13738000 3490000 10248000 4392000 0 212000 1002000 5606000 284000 14000 298000 0 5904000 207727000 3000 90000 560000 208380000 2220000 210600000 216504000 50000 4510000 57047000 61607000 460000 460000 915000 915000 11300000 974000 120782000 8155000 12661000 153522000 154437000 216504000 519000 1214000 -40894000 9034000 EY Godkendt Revisionspartnerselskab 30700228 Thomas Hjortkjær Petersen State Authorised Public Accountant mne33748 2000 Frederiksberg Dirch Passers Allé 36