43494872 2022-09-07 2022-12-31 43494872 2022-09-07 2022-12-31 1 43494872 2022-09-07 2022-12-31 2 43494872 2022-09-07 2022-12-31 fsa:RetainedEarningsMember 43494872 2022-12-31 43494872 2022-09-07 2022-12-31 fsa:ContributedCapitalMember 43494872 2022-12-31 fsa:ContributedCapitalMember 43494872 2022-09-07 2022-12-31 fsa:RetainedEarningsMember 43494872 2022-12-31 fsa:RetainedEarningsMember 43494872 2022-09-07 2022-12-31 1 43494872 2022-09-07 2022-12-31 1 43494872 2022-09-07 2022-12-31 2 43494872 2022-09-07 2022-12-31 3 xbrli:pure iso4217:EUR Morten Vested Stakroge APMH GE P/S Esplanaden 50 1263 Copenhagen www.apmoller.com PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab The objective of the company is to act as an investment company for APMH Invest A/S by investing in Danish and foreign assets. MANAGEMENT REVIEW APMH GE P/S was founded by APMH Invest A/S on 7 September 2022. The first accounting period is 7 September to 31 December 2022. PROFIT/LOSS FOR THE YEAR Net profit for the year amounted to EUR 1.9m. The result for the year is proposed distributed to retained earnings. No dividend is proposed for 2022. As of 31 December 2022, the equity amounted to EUR 2.0m. 423000 -423000 3263000 907000 1933000 1933000 30853000 30853000 203000 203000 71000 274000 31127000 60000 1933000 1993000 28625000 28625000 4000 505000 509000 29134000 31127000 60000 0 60000 0 1933000 60000 1933000 Note 1: Other external expenses Apart from the Executive Board, APMH GE P/S has not had any employees in 2022. The Executive Board and Board of Directors have not received any remuneration from the com-pany. Members of the Executive Board and Board of Directors are remunerated from A.P. Møller Holding A/S. Note 2: Other financial expenses Amounts in EUR ‘000 2022Interest expenses, affiliates 403 Other financial expenses 504 Total 907 Note 3: Related parties The company has not entered into any transactions with related parties that were not on an arm’s length basis. CONSOLIDATED FINANCIAL STATEMENTS APMH GE P/S is included in the consolidated financial statements for A.P. Møller Holding A/S, Copenhagen, Denmark, Business Registration No 25 67 92 88. The consolidated financial statement of A.P. Møller Holding A/S can be required at www.cvr.dk. With reference to section 110 of the Danish Financial Statements Act, the company has not pre-pared consolidated financial statements. It is the company’s first financial year. Note 4: Significant accounting policies FOREIGN CURRENCY TRANSLATION Transactions in currencies other than the functional currency are translated at the exchange rate prevailing on the date of the transaction. Monetary items in foreign currencies not settled at the balance sheet date are translated at the exchange rate as per the balance sheet date. Foreign exchange gains and losses are included in the income statement as financial income or expenses. INCOME STATEMENT Other external expenses Other external expenses comprise consultant and advisor fees, etc. Other financial income and expenses Other financial income and expenses comprise interest income and expenses, and exchange rate adjustments, etc. Tax The company is not liable to tax. Note 4: Significant accounting policies (continued) BALANCE SHEET Other equity investments Other equity investments are measured at cost. The investments are written down to recovera-ble amount (i.e., the higher of fair value less cost of disposal and value in use) if it is lower than the carrying amount. Dividends received from other equity investments are recognised in other financial income. Receivables Receivables are generally recognised at nominal value, substantially corresponding to amortised cost and impaired for expected losses. Impairment of receivables is based on the expected loss model as described in IFRS 9. Cash and bank balances Cash and bank balances comprise cash in bank deposits. Liabilities Other financial liabilities are measured at amortised cost, substantially corresponding to nominal value. true Copenhagen, Chetan Mehta Jan Thorsgaard Nielsen Chair Martin Nørkjær Larsen Morten Vested Stakroge MANAGEMENT’S STATEMENT The Executive Board and Board of Directors have today consid-ered and adopted the Annual Report of APMH GE P/S for the financial year 7 September – 31 December 2022. The Annual Report is prepared in accordance with the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the financial position of the company at 31 December 2022 and of the results of the company’s operations for 2022. In our opinion, management review includes a true and fair account of the development in the operations and financial circumstances of the company, of the results for the year, and of the financial position of the company, as well as a description of the most significant risks and elements of uncertainty facing the company. We recommend that the Annual Report be adopted at the Annual General Meeting. OPINION In our opinion, the financial statements give a true and fair view of the financial position of the company at 31 December 2022, and of the results of the company’s operations for the financial year 7 September - 31 December 2022 in accordance with the Danish Financial Statements Act. We have audited the financial statements of APMH GE P/S for the financial year 7 September - 31 December 2022, which com-prise income statement, balance sheet, statement of changes in equity and notes, including a summary of significant accounting policies (“financial statements”). BASIS FOR OPINION We conducted our audit in accordance with International Stand-ards on Auditing (ISAs) and the additional requirements appli-cable in Denmark. Our responsibilities under those standards and requirements are further described in the Auditor’s Respon-sibilities for the Audit of the Financial Statements section of our report. We are independent of the company in accordance with the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code) and the additional requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. STATEMENT ON MANAGEMENT REVIEW Management is responsible for management review. Our opinion on the financial statements does not cover manage-ment review, and we do not express any form of assurance con-clusion thereon. In connection with our audit of the financial statements, our re-sponsibility is to read management review and, in doing so, con-sider whether management review is materially inconsistent with the financial statements or our knowledge obtained during the audit, or otherwise appears to be materially misstated. Moreover, it is our responsibility to consider whether manage-ment review provides the information required under the Danish Financial Statements Act. Based on the work we have performed, in our view, manage-ment review is in accordance with the financial statements and has been prepared in accordance with the requirements of the Danish Financial Statements Act. We did not identify any mate-rial misstatement in management review. MANAGEMENT’S RESPONSIBILITIES FOR THE FINANCIAL STATEMENTS Management is responsible for the preparation of financial statements that give a true and fair view in accordance with the Danish Financial Statements Act, and for such internal control as management determines is necessary to enable the prepara-tion of financial statements that are free from material misstate-ment, whether due to fraud or error. In preparing the financial statements, management is responsi-ble for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going con-cern and using the going concern basis of accounting in prepar-ing the financial statements unless management either intends to liquidate the company or to cease operations, or has no real-istic alternative but to do so. INDEPENDENT AUDITOR’S REPORT To the shareholder of APMH GE P/S AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from mate-rial misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assur-ance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and the additional re-quirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these fi-nancial statements. As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we exercise pro-fessional judgment and maintain professional skepticism throughout the audit. We also:  Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, de-sign and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appro-priate to provide a basis for our opinion. The risk of not de-tecting a material misstatement resulting from fraud is higher than for one resulting from error as fraud may in-volve collusion, forgery, intentional omissions, misrepresen-tations, or the override of internal control.  Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropri-ate in the circumstances, but not for the purpose of ex-pressing an opinion on the effectiveness of the company’s internal control.  Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and re-lated disclosures made by management.  Conclude on the appropriateness of management’s use of the going concern basis of accounting in preparing the fi-nancial statements and, based on the audit evidence ob-tained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company’s ability to continue as a going concern. If we con-clude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclo-sures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going con-cern.  Evaluate the overall presentation, structure and contents of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that gives a true and fair view. We communicate with those charged with governance regard-ing, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant de-ficiencies in internal control that we identify during our audit. Copenhagen, PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Thomas Wraae Holm State Authorised Public Accountant Henrik Kyhnauv State Authorised Public Accountant Annual report Auditor's report on audited financial statements ParsePort XBRL Converter 2022-09-07 2022-12-31 2023-03-10 Reporting class B 43494872 2022-09-07 0.0 2023-03-10 33771231 Strandvejen 44 2900 Hellerup Opinion Basis for Opinion 2023-03-10 mne30141 33771231 mne40028