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scheme="http://www.dcca.dk/cvr">26772478</identifier></entity><period><startDate>2018-01-01</startDate><endDate>2018-12-31</endDate></period><scenario><xbrldi:typedMember dimension="cmn:IdentificationOfAuditorDimension"><auditorIdentifier xmlns="http://xbrl.dcca.dk/cmn">Revisionsvirksomhed 01 - Revisor 02</auditorIdentifier></xbrldi:typedMember></scenario></context><unit id="u-DKK"><measure>iso4217:DKK</measure></unit><unit id="u-pure"><measure>pure</measure></unit><unit id="u-shares"><measure>shares</measure></unit><mrv:DescriptionOfPrimaryActivitiesOfEntity contextRef="D-2018">Det er selskabets formål at eje kapitalandele i tilknyttede og associerede virksomheder, hvis aktiviteter hovedsageligt vil være drift af shipping- og transportformidling. 
Selskabet har etableret sig med datterselskaber og associerede virksomheder i følgende lande:
Sverige
Norge
Polen
FinlandThe object of the Company is to hold shares in group enterprises and associates whose primary acitivities are shipping and transportation facilitation. 
The Company has established subsidiaries and associates in the following countries:
Sweden
Norway
Poland
Finland
</mrv:DescriptionOfPrimaryActivitiesOfEntity><mrv:DescriptionOfDevelopmentInActivitiesAndFinancialAffairs contextRef="D-2018">Årets resultat er opgjort til 75 t.kr. Selskabets balance viser en samlet aktivmasse på 9.680 t.kr. og en egenkapital på 9.072 t.kr.Profit for the year amounts to DKK 75 thousand. The balance sheet shows total assets of DKK 9,680 thousand and equity of DKK 9,072 thousand.</mrv:DescriptionOfDevelopmentInActivitiesAndFinancialAffairs><mrv:DescriptionOfSignificantEventsOccurringAfterEndOfReportingPeriod contextRef="D-2018">Der er fra balancedagen og frem til i dag ikke indtrådt forhold, som forrykker vurderingen af årsrapporten.
No events have occurred after the balance sheet date to this date, which would influence the evaluation of this annual report.
</mrv:DescriptionOfSignificantEventsOccurringAfterEndOfReportingPeriod><cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="D-2018-dim-Direktionsmedlem01">Lars Bertelsen</cmn:NameAndSurnameOfMemberOfExecutiveBoard><sob:IdentificationOfApprovedAnnualReport contextRef="D-2018">Bestyrelsen og direktionen har dags dato behandlet og godkendt årsrapporten for regnskabsåret 01.01.2018 - 31.12.2018 for HLI Holding A/S.The Board of Directors and the Executive Board have today considered and approved the annual report of HLI Holding A/S for the financial year 01.01.2018 - 31.12.2018.
</sob:IdentificationOfApprovedAnnualReport><sob:ConfirmationThatAnnualReportIsPresentedInAccordanceWithRequirementsProvidedForByLegislationAnyStandardsAndRequirementsProvidedByArticlesOfAssociationOrByAgreement contextRef="D-2018">Årsrapporten aflægges i overensstemmelse med årsregnskabsloven. The annual report is presented in accordance with the Danish Financial Statements Act.</sob:ConfirmationThatAnnualReportIsPresentedInAccordanceWithRequirementsProvidedForByLegislationAnyStandardsAndRequirementsProvidedByArticlesOfAssociationOrByAgreement><sob:RecommendationForApprovalOfAnnualReportByGeneralMeeting contextRef="D-2018">Årsrapporten indstilles til generalforsamlingens godkendelse.We recommend the annual report for adoption at the Annual General Meeting.</sob:RecommendationForApprovalOfAnnualReportByGeneralMeeting><sob:ManagementsStatementAboutManagementsReview contextRef="D-2018">Ledelsesberetningen indeholder efter vores opfattelse en retvisende redegørelse for de forhold, beretningen omhandler.We believe that the management commentary contains a fair review of the affairs and conditions referred to therein.</sob:ManagementsStatementAboutManagementsReview><cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="D-2018-dim-Bestyrelsesmedlem1">Hans Thomas Einar Rössberger</cmn:NameAndSurnameOfMemberOfSupervisoryBoard><cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="D-2018-dim-Bestyrelsesmedlem2">Søren Flemming Folmann</cmn:NameAndSurnameOfMemberOfSupervisoryBoard><cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="D-2018-dim-Bestyrelsesmedlem3">Lars Bertelsen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard><cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="D-2018-dim-Bestyrelsesmedlem4">Patrik Rössberger</cmn:NameAndSurnameOfMemberOfSupervisoryBoard><fsa:LongtermInvestmentsAndReceivables unitRef="u-DKK" decimals="0" contextRef="I-2018-E">9024813</fsa:LongtermInvestmentsAndReceivables><fsa:LongtermInvestmentsAndReceivables unitRef="u-DKK" decimals="-3" contextRef="I-2017-E">9031000</fsa:LongtermInvestmentsAndReceivables><fsa:ShorttermReceivables unitRef="u-DKK" decimals="0" contextRef="I-2018-E">654891</fsa:ShorttermReceivables><fsa:ShorttermReceivables unitRef="u-DKK" decimals="-3" contextRef="I-2017-E">1279000</fsa:ShorttermReceivables><fsa:Assets unitRef="u-DKK" decimals="0" contextRef="I-2018-E">9679704</fsa:Assets><fsa:Assets unitRef="u-DKK" decimals="-3" contextRef="I-2017-E">10310000</fsa:Assets><fsa:NoncurrentAssets unitRef="u-DKK" decimals="0" contextRef="I-2018-E">9024813</fsa:NoncurrentAssets><fsa:NoncurrentAssets unitRef="u-DKK" decimals="-3" contextRef="I-2017-E">9031000</fsa:NoncurrentAssets><fsa:CurrentAssets unitRef="u-DKK" decimals="0" contextRef="I-2018-E">654891</fsa:CurrentAssets><fsa:CurrentAssets unitRef="u-DKK" decimals="-3" contextRef="I-2017-E">1279000</fsa:CurrentAssets><fsa:LongtermInvestmentsInGroupEnterprises unitRef="u-DKK" decimals="0" contextRef="I-2018-E">7600394</fsa:LongtermInvestmentsInGroupEnterprises><fsa:LongtermInvestmentsInGroupEnterprises unitRef="u-DKK" decimals="-3" contextRef="I-2017-E">7663000</fsa:LongtermInvestmentsInGroupEnterprises><fsa:LongtermInvestmentsInAssociates unitRef="u-DKK" decimals="0" contextRef="I-2018-E">1424419</fsa:LongtermInvestmentsInAssociates><fsa:LongtermInvestmentsInAssociates unitRef="u-DKK" decimals="-3" contextRef="I-2017-E">1368000</fsa:LongtermInvestmentsInAssociates><fsa:ShorttermTradeReceivables unitRef="u-DKK" decimals="0" contextRef="I-2018-E">22445</fsa:ShorttermTradeReceivables><fsa:ShorttermTradeReceivables unitRef="u-DKK" decimals="-3" contextRef="I-2017-E">4000</fsa:ShorttermTradeReceivables><fsa:ShorttermReceivablesFromGroupEnterprises unitRef="u-DKK" decimals="0" contextRef="I-2018-E">632446</fsa:ShorttermReceivablesFromGroupEnterprises><fsa:ShorttermReceivablesFromGroupEnterprises unitRef="u-DKK" decimals="-3" contextRef="I-2017-E">721000</fsa:ShorttermReceivablesFromGroupEnterprises><fsa:ShorttermReceivablesDividendsFromGroupEnterprises unitRef="u-DKK" decimals="-3" contextRef="I-2017-E">554000</fsa:ShorttermReceivablesDividendsFromGroupEnterprises><fsa:LiabilitiesOtherThanProvisions unitRef="u-DKK" decimals="0" contextRef="I-2018-E">608191</fsa:LiabilitiesOtherThanProvisions><fsa:LiabilitiesOtherThanProvisions unitRef="u-DKK" decimals="-3" contextRef="I-2017-E">1106000</fsa:LiabilitiesOtherThanProvisions><fsa:ShorttermDebtToBanks unitRef="u-DKK" decimals="0" contextRef="I-2018-E">152023</fsa:ShorttermDebtToBanks><fsa:ShorttermDebtToBanks unitRef="u-DKK" decimals="-3" contextRef="I-2017-E">857000</fsa:ShorttermDebtToBanks><fsa:ShorttermTradePayables unitRef="u-DKK" decimals="0" contextRef="I-2018-E">55500</fsa:ShorttermTradePayables><fsa:ShorttermTradePayables unitRef="u-DKK" decimals="-3" contextRef="I-2017-E">57000</fsa:ShorttermTradePayables><fsa:ShorttermTaxPayables unitRef="u-DKK" decimals="0" contextRef="I-2018-E">5171</fsa:ShorttermTaxPayables><fsa:ShorttermTaxPayables unitRef="u-DKK" decimals="-3" contextRef="I-2017-E">5000</fsa:ShorttermTaxPayables><fsa:OtherShorttermPayables unitRef="u-DKK" decimals="0" contextRef="I-2018-E">395497</fsa:OtherShorttermPayables><fsa:OtherShorttermPayables unitRef="u-DKK" decimals="-3" contextRef="I-2017-E">187000</fsa:OtherShorttermPayables><fsa:OtherOperatingIncome unitRef="u-DKK" decimals="0" contextRef="D-2018">295260</fsa:OtherOperatingIncome><fsa:OtherOperatingIncome unitRef="u-DKK" decimals="-3" contextRef="D-2017">300000</fsa:OtherOperatingIncome><fsa:OtherFinanceIncome unitRef="u-DKK" decimals="0" contextRef="D-2018">22680</fsa:OtherFinanceIncome><fsa:OtherFinanceIncome unitRef="u-DKK" decimals="-3" contextRef="D-2017">38000</fsa:OtherFinanceIncome><fsa:RestOfOtherFinanceExpenses unitRef="u-DKK" decimals="0" contextRef="D-2018">55170</fsa:RestOfOtherFinanceExpenses><fsa:RestOfOtherFinanceExpenses unitRef="u-DKK" decimals="-3" contextRef="D-2017">37000</fsa:RestOfOtherFinanceExpenses><fsa:IncomeFromInvestmentsInGroupEnterprises unitRef="u-DKK" decimals="0" contextRef="D-2018">412557</fsa:IncomeFromInvestmentsInGroupEnterprises><fsa:IncomeFromInvestmentsInGroupEnterprises unitRef="u-DKK" decimals="-3" contextRef="D-2017">1590000</fsa:IncomeFromInvestmentsInGroupEnterprises><fsa:IncomeFromInvestmentsInAssociates unitRef="u-DKK" decimals="0" contextRef="D-2018">50787</fsa:IncomeFromInvestmentsInAssociates><fsa:IncomeFromInvestmentsInAssociates unitRef="u-DKK" decimals="-3" contextRef="D-2017">249000</fsa:IncomeFromInvestmentsInAssociates><fsa:GrossResult unitRef="u-DKK" decimals="0" contextRef="D-2018">-355649</fsa:GrossResult><fsa:GrossResult unitRef="u-DKK" decimals="-3" contextRef="D-2017">-306000</fsa:GrossResult><fsa:ProfitLossFromOrdinaryOperatingActivities unitRef="u-DKK" decimals="0" contextRef="D-2018">-355649</fsa:ProfitLossFromOrdinaryOperatingActivities><fsa:ProfitLossFromOrdinaryOperatingActivities unitRef="u-DKK" decimals="-3" contextRef="D-2017">-306000</fsa:ProfitLossFromOrdinaryOperatingActivities><fsa:ProfitLossFromOrdinaryActivitiesBeforeTax unitRef="u-DKK" decimals="0" contextRef="D-2018">75205</fsa:ProfitLossFromOrdinaryActivitiesBeforeTax><fsa:ProfitLossFromOrdinaryActivitiesBeforeTax unitRef="u-DKK" decimals="-3" contextRef="D-2017">1534000</fsa:ProfitLossFromOrdinaryActivitiesBeforeTax><fsa:DescriptionOfGeneralMattersRelatedToRecognitionMeasurementAndChangesInAccountingPolicies contextRef="D-2018">Aktiver indregnes i balancen, når det som følge af en tidligere begivenhed er sandsynligt, at fremtidige økonomiske fordele vil tilflyde virksomheden, og aktivets værdi kan måles pålideligt.

Forpligtelser indregnes i balancen, når virksomheden som følge af en tidligere begivenhed har en retlig eller faktisk forpligtelse, og det er sandsynligt, at fremtidige økonomiske fordele vil fragå virksomheden, og forpligtelsens værdi kan måles pålideligt.

Ved første indregning måles aktiver og forpligtelser til kostpris. Måling efter første indregning sker som beskrevet for hver enkelt regnskabspost nedenfor.

Ved indregning og måling tages hensyn til forudsigelige risici og tab, der fremkommer, inden årsrapporten aflægges, og som be- eller afkræfter forhold, der eksisterede på balancedagen.


I resultatopgørelsen indregnes indtægter, i takt med at de indtjenes, mens omkostninger indregnes med de beløb, der vedrører regnskabsåret.Assets are recognised in the balance sheet when it is probable as a result of a prior event that future economic benefits will flow to the Entity, and the value of the asset can be measured reliably.

Liabilities are recognised in the balance sheet when the Entity has a legal or constructive obligation as a result of a prior event, and it is probable that future economic benefits will flow out of the Entity, and the value of the liability can be measured reliably.

On initial recognition, assets and liabilities are measured at cost. Measurement subsequent to initial recognition is effected as described below for each financial statement item.

Anticipated risks and losses that arise before the time of presentation of the annual report and that confirm or invalidate affairs and conditions existing at the balance sheet date are considered at recognition and measurement.

Income is recognised in the income statement when earned, whereas costs are recognised by the amounts attributable to this financial year.</fsa:DescriptionOfGeneralMattersRelatedToRecognitionMeasurementAndChangesInAccountingPolicies><fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfReceivables contextRef="D-2018">Tilgodehavender måles til amortiseret kostpris, der sædvanligvis svarer til nominel værdi, med fradrag af nedskrivninger til imødegåelse af forventede tab. Receivables are measured at amortised cost, usually equalling nominal value, less writedowns for bad and doubtful debts. </fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfReceivables><fsa:DescriptionOfMethodsOfCurrentTaxReceivablesAndLiabilities contextRef="D-2018">Aktuelle skatteforpligtelser eller tilgodehavende aktuel skat indregnes i balancen opgjort som beregnet skat af årets skattepligtige indkomst, der er reguleret for betalt acontoskat. Current tax payable or receivable is recognised in the balance sheet, stated as tax calculated on this year's taxable income, adjusted for prepaid tax. </fsa:DescriptionOfMethodsOfCurrentTaxReceivablesAndLiabilities><fsa:InvestmentsGross unitRef="u-DKK" decimals="0" contextRef="I-2018-E-dim-InvestmentsInGroupEn">5517720</fsa:InvestmentsGross><fsa:InvestmentsGross unitRef="u-DKK" decimals="-3" contextRef="I-2017-E-dim-InvestmentsInGroupEn">5882000</fsa:InvestmentsGross><fsa:InvestmentsGross unitRef="u-DKK" decimals="0" contextRef="I-2018-E-dim-InvestmentsInAssocia">1489360</fsa:InvestmentsGross><fsa:InvestmentsGross unitRef="u-DKK" decimals="-3" contextRef="I-2017-E-dim-InvestmentsInAssocia">1489000</fsa:InvestmentsGross><fsa:DisposalsOfInvestments unitRef="u-DKK" decimals="0" contextRef="D-2018-dim-InvestmentsInGroupEn">-363780</fsa:DisposalsOfInvestments><fsa:AccumulatedRevaluationsOfInvestments unitRef="u-DKK" decimals="0" contextRef="I-2018-E-dim-InvestmentsInGroupEn">2082674</fsa:AccumulatedRevaluationsOfInvestments><fsa:AccumulatedRevaluationsOfInvestments unitRef="u-DKK" decimals="-3" contextRef="I-2017-E-dim-InvestmentsInGroupEn">1781000</fsa:AccumulatedRevaluationsOfInvestments><fsa:IncreaseDecreaseOfRevaluationsAndDevaluationsOfInvestmentsThroughNetExchangeDifferences unitRef="u-DKK" decimals="0" contextRef="D-2018-dim-InvestmentsInGroupEn">-213099</fsa:IncreaseDecreaseOfRevaluationsAndDevaluationsOfInvestmentsThroughNetExchangeDifferences><fsa:ProfitLossRelatedToInvestments unitRef="u-DKK" decimals="0" contextRef="D-2018-dim-InvestmentsInGroupEn">596469</fsa:ProfitLossRelatedToInvestments><fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfLiabilitiesOtherThanProvisions contextRef="D-2018">Andre finansielle forpligtelser måles til amortiseret kostpris, der sædvanligvis svarer til nominel værdi. Other financial liabilities are measured at amortised cost, which usually corresponds to nominal value. </fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfLiabilitiesOtherThanProvisions><fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfExternalExpenses contextRef="D-2018">Andre eksterne omkostninger omfatter omkostninger, der vedrører virksomhedens primære aktiviteter, herunder lokaleomkostninger, salgsfremmende omkostninger mv. I posten indgår endvidere nedskrivninger af tilgodehavender indregnet under omsætningsaktiver. Other external expenses include expenses relating to the Entity’s ordinary activities, including expenses for premises, marketing costs, etc. This item also includes writedowns of receivables recognised in current assets. </fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfExternalExpenses><fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfIncomeAndExpensesFromInvestmentsInGroupEnterprisesAndAssociates contextRef="D-2018">Indtægter af kapitalandele i tilknyttede virksomheder omfatter den forholdsmæssige andel af de enkelte virksomheders resultat efter fuld eliminering af interne avancer og tab. Income from investments in group enterprises comprises the pro rata share of the individual enterprises’ profit/loss after full elimination of intra-group profits or losses. Indtægter af kapitalandele i associerede virksomheder omfatter den forholdsmæssige andel af de enkelte associerede virksomheders resultat efter forholdsmæssig eliminering af interne avancer og tab. Income from investments in associates comprises the pro rata share of the individual associates’ profit/loss after elimination of intra-group profits or losses. </fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfIncomeAndExpensesFromInvestmentsInGroupEnterprisesAndAssociates><fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfFinanceIncomeAndExpenses contextRef="D-2018">Andre finansielle indtægter består af modtagne udbytter o.l. fra kapitalandele, renteindtægter, herunder renteindtægter fra tilgodehavender hos tilknyttede virksomheder, nettokursgevinster vedrørende gæld og transaktioner i fremmed valuta samt godtgørelser under acontoskatteordningen mv. Other financial income comprises dividends etc received on other investments, interest income, including interest income on receivables from group enterprises, net capital gains on payables and transactions in foreign currencies as well as tax relief under the Danish Tax Prepayment Scheme etc. Andre finansielle omkostninger består af rente-omkostninger, nettokurstab vedrørende gæld og transaktioner i fremmed valuta samt tillæg under acontoskatteordningen mv. Other financial expenses comprise interest expenses, net capital losses on payables and transactions in foreign currencies as well as tax surcharge under the Danish Tax Prepayment Scheme etc. </fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfFinanceIncomeAndExpenses><fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfTaxExpenses contextRef="D-2018">Årets skat, der består af årets aktuelle skat og ændring af udskudt skat, indregnes i resultatopgørelsen med den del, der kan henføres til årets resultat, og direkte på egenkapitalen med den del, der kan henføres til posteringer direkte på egenkapitalen. </fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfTaxExpenses><fsa:AccumulatedImpairmentLossesAndDepreciationOfInvestments unitRef="u-DKK" decimals="0" contextRef="I-2018-E-dim-InvestmentsInAssocia">-64941</fsa:AccumulatedImpairmentLossesAndDepreciationOfInvestments><fsa:AccumulatedImpairmentLossesAndDepreciationOfInvestments unitRef="u-DKK" decimals="-3" contextRef="I-2017-E-dim-InvestmentsInAssocia">-121000</fsa:AccumulatedImpairmentLossesAndDepreciationOfInvestments><fsa:IncreaseDecreaseOfImpairmentLossesAndDepreciationOfInvestmentsThroughNetExchangeDifferences unitRef="u-DKK" decimals="0" contextRef="D-2018-dim-InvestmentsInAssocia">5371</fsa:IncreaseDecreaseOfImpairmentLossesAndDepreciationOfInvestmentsThroughNetExchangeDifferences><fsa:InterestIncomeFromGroupEnterprises unitRef="u-DKK" decimals="0" contextRef="D-2018">22680</fsa:InterestIncomeFromGroupEnterprises><fsa:InterestIncomeFromGroupEnterprises unitRef="u-DKK" decimals="-3" contextRef="D-2017">18000</fsa:InterestIncomeFromGroupEnterprises><fsa:ExchangeRateAdjustmentsOtherFinanceIncome unitRef="u-DKK" decimals="-3" contextRef="D-2017">20000</fsa:ExchangeRateAdjustmentsOtherFinanceIncome><fsa:OtherInterestExpenses unitRef="u-DKK" decimals="0" contextRef="D-2018">7560</fsa:OtherInterestExpenses><fsa:OtherInterestExpenses unitRef="u-DKK" decimals="-3" contextRef="D-2017">31000</fsa:OtherInterestExpenses><fsa:InterestExpenseAssignedToAssociates unitRef="u-DKK" decimals="0" contextRef="D-2018">2521</fsa:InterestExpenseAssignedToAssociates><fsa:ExchangeRateAdjustmentsOtherFinanceExpenses unitRef="u-DKK" decimals="0" contextRef="D-2018">38412</fsa:ExchangeRateAdjustmentsOtherFinanceExpenses><fsa:OtherAdjustmentsOfFinanceExpenses unitRef="u-DKK" decimals="0" contextRef="D-2018">6677</fsa:OtherAdjustmentsOfFinanceExpenses><fsa:OtherAdjustmentsOfFinanceExpenses unitRef="u-DKK" decimals="-3" contextRef="D-2017">6000</fsa:OtherAdjustmentsOfFinanceExpenses><fsa:AverageNumberOfEmployees unitRef="u-pure" decimals="0" contextRef="D-2018">0</fsa:AverageNumberOfEmployees><fsa:AverageNumberOfEmployees unitRef="u-pure" decimals="0" contextRef="D-2017">0</fsa:AverageNumberOfEmployees><gsd:IdentificationNumberCvrOfReportingEntity contextRef="D-2018">26772478</gsd:IdentificationNumberCvrOfReportingEntity><gsd:NameOfReportingEntity contextRef="D-2018">HLI Holding A/S</gsd:NameOfReportingEntity><gsd:RegisteredOfficeOfReportingEntity contextRef="D-2018">København</gsd:RegisteredOfficeOfReportingEntity><gsd:DateOfGeneralMeeting contextRef="D-2018">2019-06-14</gsd:DateOfGeneralMeeting><gsd:NameAndSurnameOfChairmanOfGeneralMeeting contextRef="D-2018"> Emil Hersbøll </gsd:NameAndSurnameOfChairmanOfGeneralMeeting><sob:ConfirmationThatFinancialStatementGivesTrueAndFairViewOfAssetsLiabilitiesEquityFinancialPositionAndResults contextRef="D-2018">Det er vores opfattelse, at årsregnskabet giver et retvisende billede af virksomhedens aktiver, passiver og finansielle stilling pr. 31.12.2018 samt  af resultatet af virksomhedens aktiviteter for regnskabsåret 01.01.2018 - 31.12.2018.In our opinion, the financial statements give a true and fair view of the Entity’s financial position at 31.12.2018 and of the results of its operations for the financial year 01.01.2018 - 31.12.2018.</sob:ConfirmationThatFinancialStatementGivesTrueAndFairViewOfAssetsLiabilitiesEquityFinancialPositionAndResults><sob:DateOfApprovalOfAnnualReport contextRef="D-2018">2019-06-14</sob:DateOfApprovalOfAnnualReport><sob:PlaceOfSignatureOfStatement contextRef="D-2018">København</sob:PlaceOfSignatureOfStatement><fsa:DisclosureOfShorttermLiabilities contextRef="D-2018"/><gsd:IdentificationNumberCvrOfSubmittingEnterprise contextRef="D-2018">33963556</gsd:IdentificationNumberCvrOfSubmittingEnterprise><gsd:NameOfSubmittingEnterprise contextRef="D-2018">Deloitte Statsautoriseret Revisionspartnerselskab</gsd:NameOfSubmittingEnterprise><gsd:AddressOfSubmittingEnterpriseStreetAndNumber contextRef="D-2018">Weidekampsgade Postboks 1600</gsd:AddressOfSubmittingEnterpriseStreetAndNumber><gsd:AddressOfSubmittingEnterprisePostcodeAndTown contextRef="D-2018">0900 København C</gsd:AddressOfSubmittingEnterprisePostcodeAndTown><fsa:LiabilitiesAndEquity unitRef="u-DKK" decimals="0" contextRef="I-2018-E">9679704</fsa:LiabilitiesAndEquity><fsa:LiabilitiesAndEquity unitRef="u-DKK" decimals="-3" contextRef="I-2017-E">10310000</fsa:LiabilitiesAndEquity><fsa:Equity unitRef="u-DKK" decimals="0" contextRef="I-2018-E">9071513</fsa:Equity><fsa:Equity unitRef="u-DKK" decimals="-3" contextRef="I-2017-E">9204000</fsa:Equity><fsa:ContributedCapital unitRef="u-DKK" decimals="0" contextRef="I-2018-E">508000</fsa:ContributedCapital><fsa:ContributedCapital unitRef="u-DKK" decimals="-3" contextRef="I-2017-E">508000</fsa:ContributedCapital><fsa:ReserveForNetRevaluationAccordingToEquityMethod unitRef="u-DKK" decimals="0" contextRef="I-2018-E">2082674</fsa:ReserveForNetRevaluationAccordingToEquityMethod><fsa:ReserveForNetRevaluationAccordingToEquityMethod unitRef="u-DKK" decimals="-3" contextRef="I-2017-E">1781000</fsa:ReserveForNetRevaluationAccordingToEquityMethod><fsa:RetainedEarnings unitRef="u-DKK" decimals="0" contextRef="I-2018-E">6480839</fsa:RetainedEarnings><fsa:RetainedEarnings unitRef="u-DKK" decimals="-3" contextRef="I-2017-E">6915000</fsa:RetainedEarnings><fsa:ShorttermLiabilitiesOtherThanProvisions unitRef="u-DKK" decimals="0" contextRef="I-2018-E">608191</fsa:ShorttermLiabilitiesOtherThanProvisions><fsa:ShorttermLiabilitiesOtherThanProvisions unitRef="u-DKK" decimals="-3" contextRef="I-2017-E">1106000</fsa:ShorttermLiabilitiesOtherThanProvisions><fsa:ProfitLoss unitRef="u-DKK" decimals="0" contextRef="D-2018">75205</fsa:ProfitLoss><fsa:ProfitLoss unitRef="u-DKK" decimals="-3" contextRef="D-2017">1534000</fsa:ProfitLoss><fsa:OtherExternalExpenses unitRef="u-DKK" decimals="0" contextRef="D-2018">650909</fsa:OtherExternalExpenses><fsa:OtherExternalExpenses unitRef="u-DKK" decimals="-3" contextRef="D-2017">606000</fsa:OtherExternalExpenses><fsa:ProfitLoss unitRef="u-DKK" decimals="0" contextRef="D-2018-dim-ReserveForNetRevalua">301300</fsa:ProfitLoss><fsa:ProfitLoss unitRef="u-DKK" 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contextRef="D-2018-dim-RetainedEarningsMemb.1">-226095</fsa:ProfitLoss><fsa:ProfitLoss unitRef="u-DKK" decimals="-3" contextRef="D-2017-dim-RetainedEarningsMemb.1">111000</fsa:ProfitLoss><fsa:Equity unitRef="u-DKK" decimals="0" contextRef="I-2018-E-dim-ContributedCapitalMe">508000</fsa:Equity><fsa:Equity unitRef="u-DKK" decimals="-3" contextRef="I-2017-E-dim-ContributedCapitalMe">508000</fsa:Equity><fsa:Equity unitRef="u-DKK" decimals="0" contextRef="I-2018-E-dim-ReserveForNetRevalua">2082674</fsa:Equity><fsa:Equity unitRef="u-DKK" decimals="-3" contextRef="I-2017-E-dim-ReserveForNetRevalua">1781000</fsa:Equity><fsa:Equity unitRef="u-DKK" decimals="0" contextRef="I-2018-E-dim-RetainedEarningsMemb">6480839</fsa:Equity><fsa:Equity unitRef="u-DKK" decimals="-3" contextRef="I-2017-E-dim-RetainedEarningsMemb">6915000</fsa:Equity><fsa:DescriptionOfClassOfIssuedShares contextRef="I-2018-E-dim-Kapitalklasse01">Ordinære aktier</fsa:DescriptionOfClassOfIssuedShares><fsa:NumberOfIssuedShares 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contextRef="D-2018-dim-FADattervirksomhed03-SubsidiaryMember">Polen/Poland</fsa:RelatedEntityRegisteredOffice><fsa:RelatedEntityRegisteredOffice contextRef="D-2018-dim-FADattervirksomhed04-SubsidiaryMember">Finland/Finland</fsa:RelatedEntityRegisteredOffice><fsa:RelatedEntityLegalForm contextRef="D-2018-dim-FADattervirksomhed01-SubsidiaryMember">AB</fsa:RelatedEntityLegalForm><fsa:RelatedEntityLegalForm contextRef="D-2018-dim-FADattervirksomhed02-SubsidiaryMember">AS</fsa:RelatedEntityLegalForm><fsa:RelatedEntityLegalForm contextRef="D-2018-dim-FADattervirksomhed03-SubsidiaryMember">sp.zo.o.</fsa:RelatedEntityLegalForm><fsa:RelatedEntityLegalForm contextRef="D-2018-dim-FADattervirksomhed04-SubsidiaryMember">OY</fsa:RelatedEntityLegalForm><fsa:ShareHeldByEntityOrConsolidatedEnterprisesInRelatedEntity unitRef="u-pure" decimals="2" 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Ltd.</fsa:RelatedEntityName><fsa:RelatedEntityRegisteredOffice contextRef="D-2018-dim-FAAssocieretvirksomh-AssociateMember">Finland/Finland</fsa:RelatedEntityRegisteredOffice><fsa:RelatedEntityLegalForm contextRef="D-2018-dim-FAAssocieretvirksomh-AssociateMember">Ltd</fsa:RelatedEntityLegalForm><fsa:ShareHeldByEntityOrConsolidatedEnterprisesInRelatedEntity unitRef="u-pure" decimals="2" contextRef="I-2018-E-dim-FAAssocieretvirksomh-AssociateMember">50</fsa:ShareHeldByEntityOrConsolidatedEnterprisesInRelatedEntity><fsa:Equity unitRef="u-DKK" decimals="0" contextRef="I-2018-E-dim-FAAssocieretvirksomh-AssociateMember">970979</fsa:Equity><fsa:ProfitLoss unitRef="u-DKK" decimals="0" contextRef="D-2018-dim-FAAssocieretvirksomh-AssociateMember">201933</fsa:ProfitLoss><fsa:DeferredTaxLiability unitRef="u-DKK" decimals="-3" contextRef="I-2017-E-dim-InvestmentsMember">-9000</fsa:DeferredTaxLiability><fsa:DeferredTaxLiability unitRef="u-DKK" decimals="-3" contextRef="I-2017-E">-9000</fsa:DeferredTaxLiability><gsd:InformationOnTypeOfSubmittedReport contextRef="D-2018">Årsrapport</gsd:InformationOnTypeOfSubmittedReport><fsa:LongtermInvestmentsAndReceivables unitRef="u-DKK" decimals="0" contextRef="I-2018-E-dim-InvestmentsInAssocia">1424419</fsa:LongtermInvestmentsAndReceivables><fsa:LongtermInvestmentsAndReceivables unitRef="u-DKK" decimals="-3" contextRef="I-2017-E-dim-InvestmentsInAssocia">1368000</fsa:LongtermInvestmentsAndReceivables><fsa:LongtermInvestmentsAndReceivables unitRef="u-DKK" decimals="0" contextRef="I-2018-E-dim-InvestmentsInGroupEn">7600394</fsa:LongtermInvestmentsAndReceivables><fsa:LongtermInvestmentsAndReceivables unitRef="u-DKK" decimals="-3" contextRef="I-2017-E-dim-InvestmentsInGroupEn">7663000</fsa:LongtermInvestmentsAndReceivables><fsa:ClassOfReportingEntity contextRef="D-2018">Regnskabsklasse B</fsa:ClassOfReportingEntity><arr:SignatureOfAuditorsPlace contextRef="D-2018">København</arr:SignatureOfAuditorsPlace><arr:SignatureOfAuditorsDate contextRef="D-2018">2019-06-12</arr:SignatureOfAuditorsDate><fsa:ReversalsOfRevaluationOfDisposedInvestments unitRef="u-DKK" decimals="0" contextRef="D-2018-dim-InvestmentsInGroupEn">-23102</fsa:ReversalsOfRevaluationOfDisposedInvestments><gsd:AddressOfReportingEntityStreetName contextRef="D-2018">Skagerrakvej</gsd:AddressOfReportingEntityStreetName><gsd:AddressOfReportingEntityStreetBuildingIdentifier contextRef="D-2018">7</gsd:AddressOfReportingEntityStreetBuildingIdentifier><gsd:AddressOfReportingEntityPostCodeIdentifier contextRef="D-2018">2150</gsd:AddressOfReportingEntityPostCodeIdentifier><gsd:AddressOfReportingEntityDistrictName contextRef="D-2018">Nordhavn</gsd:AddressOfReportingEntityDistrictName><gsd:AddressOfAuditorStreetName contextRef="D-2018-dim-Revisionsvirksomhed0">WeidekampsgadePostboks 1600</gsd:AddressOfAuditorStreetName><gsd:AddressOfAuditorStreetBuildingIdentifier contextRef="D-2018-dim-Revisionsvirksomhed0">6</gsd:AddressOfAuditorStreetBuildingIdentifier><gsd:AddressOfAuditorPostCodeIdentifier contextRef="D-2018-dim-Revisionsvirksomhed0">0900</gsd:AddressOfAuditorPostCodeIdentifier><gsd:AddressOfAuditorDistrictName contextRef="D-2018-dim-Revisionsvirksomhed0">København C</gsd:AddressOfAuditorDistrictName><arr:AddresseeOfAuditorsReportOnExtendedReviewOfFinancialStatements contextRef="D-2018">Til kapitalejerne i HLI Holding A/STo the shareholders of HLI Holding A/S</arr:AddresseeOfAuditorsReportOnExtendedReviewOfFinancialStatements><arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatementsExtendedReview contextRef="D-2018">Ledelsen har ansvaret for udarbejdelsen af et årsregnskab, der giver et retvisende billede i overensstemmelse med årsregnskabsloven. Ledelsen har endvidere ansvaret for den interne kontrol, som ledelsen anser for nødvendig for at udarbejde et årsregnskab uden væsentlig fejlinformation, uanset om denne skyldes besvigelser eller fejl.

Ved udarbejdelsen af årsregnskabet er ledelsen ansvarlig for at vurdere selskabets evne til at fortsætte driften, at oplyse om forhold vedrørende fortsat drift, hvor dette er relevant, samt at udarbejde årsregnskabet på grundlag af regnskabsprincippet om fortsat drift, medmindre ledelsen enten har til hensigt at likvidere selskabet, indstille driften eller ikke har andet realistisk alternativ end at gøre dette.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 preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, Management is responsible for assessing the Entity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern, and using the going concern basis of accounting unless Management either intends to liquidate the Entity or to cease operations, or has no realistic alternative but to do so.</arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatementsExtendedReview><arr:StatementOfAuditorsResponsibilityExtendedReview contextRef="D-2018">Vores ansvar er at udtrykke en konklusion om årsregnskabet. Dette kræver, at vi planlægger og udfører handlinger med henblik på at opnå begrænset sikkerhed for vores konklusion om årsregnskabet og derudover udfører specifikt krævede supplerende handlinger med henblik på at opnå yderligere sikkerhed for vores konklusion.

En udvidet gennemgang omfatter handlinger, der primært består af forespørgsler til ledelsen og, hvor det er hensigtsmæssigt, andre i virksomheden, analytiske handlinger og de specifikt krævede supplerende handlinger samt vurdering af det opnåede bevis.
Omfanget af handlinger, der udføres ved en udvidet gennemgang, er mindre end ved en revision, og vi udtrykker derfor ingen revisionskonklusion om årsregnskabet.Our responsibility is to express a conclusion on the financial statements. This requires that we plan and perform procedures to obtain limited assurance about our conclusion on årsregnskabet and that we also perform specifically required supplementary procedures for the purpose of obtaining additional assurance about our conclusion.
An extended review consists of making inquiries, primarily of management and, if appropriate, of other entity personnel, performing analytical and the specifically required supplementary procedures as well as evaluating the evidence obtained.

The procedures performed in an extended review are less in scope than in an audit, and accordingly we do not express an audit opinion on the financial statements.</arr:StatementOfAuditorsResponsibilityExtendedReview><arr:DescriptionOfQualificationsOfFinancialStatementsExtendedReview contextRef="D-2018">Vi har udført vores udvidede gennemgang i overensstemmelse med Erhvervsstyrelsens erklæringsstandard for små virksomheder og FSR – danske revisorers standard om udvidet gennemgang af årsregnskaber, der udarbejdes efter årsregnskabsloven. Vores ansvar ifølge disse standarder og krav er nærmere beskrevet i afsnittet ”Revisors ansvar for den udvidede gennemgang af årsregnskabet”. Vi er uafhængige af selskabet i overensstemmelse med internationale etiske regler for revisorer (IESBA’s etiske regler) og de yderligere krav, der er gældende i Danmark, ligesom vi har opfyldt vores øvrige etiske forpligtelser i henhold til disse regler og krav. Det er vores opfattelse, at det opnåede bevis er tilstrækkeligt og egnet som grundlag for vores konklusion.We conducted our extended review in accordance with the assurance engagement standard for small enterprises as issued by the Danish Business Authority and the standard on extended review of financial statements prepared in accordance with the Danish Financial Statements Act as issued by FSR - Danish Auditors. Our responsibilities under those standards and requirements are further described in the”Auditor’s responsibilities for the extended review of the financial statements”. We are independent of the Entity in accordance with the International Ethics Standards Board for Accountants’ 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. We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our conclusion.</arr:DescriptionOfQualificationsOfFinancialStatementsExtendedReview><arr:OpinionOnFinancialStatementsExtendedReview contextRef="D-2018">Vi har udført udvidet gennemgang af årsregnskabet for HLI Holding A/S for regnskabsåret 01.01.2018 - 31.12.2018, der omfatter resultatopgørelse, balance, egenkapitalopgørelse og noter, herunder anvendt regnskabspraksis. Årsregnskabet udarbejdes efter årsregnskabsloven.

Baseret på det udførte arbejde er det vores opfattelse, at årsregnskabet giver et retvisende billede af selskabets aktiver, passiver og finansielle stilling pr. 31.12.2018 samt af resultatet af selskabets aktiviteter for regnskabsåret 01.01.2018 - 31.12.2018 i overensstemmelse med årsregnskabsloven.We have performed an extended review of the financial statements of HLI Holding A/S for the financial year 01.01.2018 - 31.12.2018, which comprise the income statement, balance sheet, statement of changes in equity and notes, including a summary of significant accounting policies. The financial statements are prepared in accordance with the Danish Financial Statements Act.
Based on our extended review, in our opinion, the financial statements give a true and fair view of the Entity’s financial position at 31.12.2018 and of the results of its operations for the financial year 01.01.2018 - 31.12.2018 in accordance with the Danish Financial Statements Act.</arr:OpinionOnFinancialStatementsExtendedReview><arr:StatementOnManagementsReviewAuditorsReportOnExtendedReviewFinancialStatementsExtendedReview contextRef="D-2018">Ledelsen er ansvarlig for ledelsesberetningen.

Vores konklusion om årsregnskabet omfatter ikke ledelsesberetningen, og vi udtrykker ingen form for konklusion med sikkerhed om ledelsesberetningen.
I tilknytning til vores udvidede gennemgang af årsregnskabet er det vores ansvar at læse ledelsesberetningen og i den forbindelse overveje, om ledelsesberetningen er væsentligt inkonsistent med årsregnskabet eller vores viden opnået ved den udvidede gennemgang eller på anden måde synes at indeholde væsentlig fejlinformation.
Vores ansvar er derudover at overveje, om ledelsesberetningen indeholder krævede oplysninger i henhold til årsregnskabsloven.Baseret på det udførte arbejde er det vores opfattelse, at ledelsesberetningen er i overensstemmelse med årsregnskabet og er udarbejdet i overensstemmelse med årsregnskabslovens krav. Vi har ikke fundet væsentlig fejlinformation i ledelsesberetningen.




Management is responsible for the management commentary.
Our opinion on the financial statements does not cover the management commentary, and we do not express any form of assurance conclusion thereon.
In connection with our extended review of the financial statements our responsibility is to read the management commentary and, in doing so, consider whether the management commentary is materially inconsistent with årsregnskabet or our knowledge obtained in the extended review or otherwise appears to be materially misstated.
Moreover, it is our responsibility to consider whether the management commentary provides the information required under the Danish Financial Statements Act.Based on the work we have performed, we conclude that the management commentary is in accordance with årsregnskabet and has been prepared in accordance with the requirements of the Danish Financial Statements Act. We did not identify any material misstatement of the management commentary.</arr:StatementOnManagementsReviewAuditorsReportOnExtendedReviewFinancialStatementsExtendedReview><fsa:NumberOfIssuedShares unitRef="u-shares" decimals="0" contextRef="I-2018-E">508</fsa:NumberOfIssuedShares><fsa:NominalValueOfIssuedShares unitRef="u-DKK" decimals="0" contextRef="I-2018-E">508000</fsa:NominalValueOfIssuedShares><fsa:DescriptionOfMethodsOfTranslationOfForeignCurrencies contextRef="D-2018"/><fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfOtherOperatingIncome contextRef="D-2018">Andre driftsindtægter omfatter indtægter af sekundær karakter set i forhold til virksomhedens hovedaktivitet. Other operating income comprises income of a secondary nature as viewed in relation to the Entity’s primary activities. </fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfOtherOperatingIncome><fsa:ProfitLossRelatedToInvestmentsImpairmentLossesAndDepreciation unitRef="u-DKK" decimals="0" contextRef="D-2018-dim-InvestmentsInAssocia">50787</fsa:ProfitLossRelatedToInvestmentsImpairmentLossesAndDepreciation><fsa:ProfitLossRelatedToInvestmentsImpairmentLossesAndDepreciation unitRef="u-DKK" decimals="-3" contextRef="D-2017-dim-InvestmentsInAssocia">249000</fsa:ProfitLossRelatedToInvestmentsImpairmentLossesAndDepreciation><cmn:TypeOfAuditorAssistance contextRef="D-2018">Erklæring om udvidet gennemgang</cmn:TypeOfAuditorAssistance><fsa:AmortisationOfGoodwillOfInvestmentsRevaluation unitRef="u-DKK" decimals="0" contextRef="D-2018-dim-InvestmentsInGroupEn">-58968</fsa:AmortisationOfGoodwillOfInvestmentsRevaluation><fsa:AmortisationOfGoodwillOfInvestmentsRevaluation unitRef="u-DKK" decimals="-3" contextRef="D-2017-dim-InvestmentsInGroupEn">-59000</fsa:AmortisationOfGoodwillOfInvestmentsRevaluation><fsa:ProfitLossAfterAttributableToMinorityInterest unitRef="u-DKK" decimals="0" contextRef="D-2018">75205</fsa:ProfitLossAfterAttributableToMinorityInterest><fsa:ProfitLossAfterAttributableToMinorityInterest unitRef="u-DKK" decimals="-3" contextRef="D-2017">1534000</fsa:ProfitLossAfterAttributableToMinorityInterest><fsa:DisclosureOfAccountingPolicies contextRef="D-2018">Årsregnskabet er aflagt efter samme regnskabspraksis som sidste år. The accounting policies applied to these financial statements are consistent with those applied last year. Nyerhvervede eller nystiftede virksomheder indregnes i regnskabet fra henholdsvis overtagelsestidspunktet og stiftelsestidspunktet. Solgte eller afviklede virksomheder indregnes i resultatopgørelsen frem til henholdsvis afståelsestidspunktet og afviklingstidspunktet.

Ved køb af nye virksomheder anvendes overtagelsesmetoden, hvorefter de ny tilkøbte virksomheders identificerbare aktiver og forpligtelser måles til dagsværdi på overtagelsestidspunktet. Der hensættes alene til dækning af omkostninger ved omstruktureringer i den erhvervede virksomhed i det omfang, de er besluttet i den erhvervede virksomhed inden overtagelsen. Der tages hensyn til skatteeffekten af de foretagne omvurderinger.

Positive forskelsbeløb (goodwill) mellem kostprisen for den erhvervede kapitalandel og dagsværdien af de overtagne aktiver og forpligtelser indregnes under immaterielle anlægsaktiver og afskrives systematisk over resultatopgørelsen efter en individuel vurdering af brugstiden. Hvis der ikke kan skønnes en pålidelig brugstid fastsættes denne til 10 år. Brugstiden revurderes årligt. Negative forskelsbeløb (negativ goodwill) indregnes i resultatopgørelsen som en indtægt. </fsa:DisclosureOfAccountingPolicies><fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisForInvestmentsInSubsidiariesAndAssociates contextRef="D-2018">Kapitalandele i tilknyttede virksomheder indregnes og måles efter den indre værdis metode (equity-metoden). Dette indebærer, at kapitalandelene måles til den forholdsmæssige andel af virksomhedernes regnskabsmæssige indre værdi med tillæg af uafskrevet goodwill og med fradrag eller tillæg af urealiserede koncerninterne fortjenester og tab. 

Nettoopskrivning af kapitalandele i tilknyttede virksomheder overføres i forbindelse med resultatdisponeringen til reserve for nettoopskrivning efter den indre værdis metode under egenkapitalen.

Goodwill opgøres som forskellen mellem kostprisen for kapitalandelene og dagsværdien af den forholdsmæssige andel af de overtagne aktiver og forpligtelser. Goodwill afskrives lineært over den vurderede brugstid, der fastlægges på baggrund af ledelsens erfaringer inden for de enkelte forretningsområder. Brugstiderne er fastlagt ud fra en vurdering af i hvilket omfang, at der er tale om strategisk erhvervede virksomheder med en stærk markedsposition og langsigtet indtjeningsprofil, og i hvilket omfang goodwillbeløbet inkluderer tidsbegrænsede immaterielle ressourcer, som det ikke har været muligt at udskille og indregne som særskilte aktiver. Hvis brugstiden ikke kan skønnes pålideligt fastsættes den til 10 år. Brugstiderne revurderes årligt. De anvendte afskrivningsperioder udgør 5 år. 

Kapitalandele i tilknyttede virksomheder nedskrives til genindvindingsværdi, hvis denne er lavere end den regnskabsmæssige værdi. Investments in group enterprises are recognised and measured according to the equity method. This means that investments are measured at the pro rata share of the enterprises’ equity value plus unamortised goodwill and plus or minus unrealised intra-group profits or losses.



Upon distribution of profit or loss, net revaluation of investments in group enterprises is transferred to reserve for net revaluation according to the equity method under equity.


Goodwill is calculated as the difference between cost of the investments and fair value of the pro rata share of assets and liabilities acquired. Goodwill is amortised straight-line over its estimated useful life, which is fixed based on the experience gained by Management for each business area. Useful life is determined based on an assessment of whether the enterprises are strategically acquired enterprises with a strong market position and a long-term earnings profile and whether the amount of goodwill includes intangible resources of a temporary nature that cannot be separated and recognised as separate assets. If the useful life cannot be estimated reliably, it is fixed at ten years. Useful lives are reassessed annually. The amortisation periods used are five years.


Investments in group enterprises are written down to the lower of recoverable amount and carrying amount. Kapitalandele i associerede virksomheder indregnes og måles efter den indre værdis metode (equity-metoden). Dette indebærer, at kapitalandelene måles til den forholdsmæssige andel af virksomhedernes regnskabsmæssige indre værdi med tillæg af uafskrevet goodwill og med fradrag eller tillæg af urealiserede, forholdsmæssige interne fortjenester og tab.

Nettoopskrivning af kapitalandele i associerede virksomheder overføres i forbindelse med resultatdisponeringen til reserve for nettoopskrivning efter den indre værdis metode under egenkapitalen.

Goodwill opgøres som forskellen mellem kostprisen for kapitalandelene og dagsværdien af den forholdsmæssige andel af de overtagne aktiver og forpligtelser. Goodwill afskrives lineært over den vurderede brugstid, der fastsættes på baggrund af ledelsens erfaringer inden for de enkelte forretningsområder. Brugstiderne er fastlagt ud fra en vurdering af i hvilket omfang, at der er tale om strategisk erhvervede virksomheder med en stærk markedsposition og langsigtet indtjeningsprofil, og i hvilket omfang goodwillbeløbet inkluderer tidsbegrænsede immaterielle ressourcer, som det ikke har været muligt at udskille og indregne som særskilte aktiver. Hvis brugstiden ikke kan skønnes pålideligt, fastsættes den til 10 år. Brugstiderne revurderes årligt. De anvendte afskrivningsperioder udgør 5 år.

Kapitalandele i associerede virksomheder nedskrives til genindvindingsværdi, hvis denne er lavere end den regnskabsmæssige værdi. Investments in associates are recognised and measured according to the equity method. This means that investments are measured at the pro rata share of the associates’ equity value plus unamortised goodwill and plus or minus unrealised pro rata intra-group profits and losses.



Upon distribution of profit or loss, net revaluation of investments in associates is transferred to reserve for net revaluation according to the equity method under equity.


Goodwill is calculated as the difference between cost of the investments and fair value of the pro rata share of assets and liabilities acquired. Goodwill is amortised straight-line over its estimated useful life, which is fixed based on the experience gained by Management for each business area. Useful life is determined based on an assessment of whether the enterprises are strategically acquired enterprises with a strong market position and a long-term earnings profile and whether the amount of goodwill includes intangible resources of a temporary nature that cannot be separated and recognised as separate assets. If the useful life cannot be estimated reliably, it is fixed at ten years. Useful lives are reassessed annually. The amortisation periods used are five years.


Investments in associates are written down to the lower of recoverable amount and carrying amount. </fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisForInvestmentsInSubsidiariesAndAssociates><arr:InformationOnSignatureInternalAudit contextRef="D-2018"/><cmn:DescriptionOfAuditor contextRef="D-2018-dim-Revisionsvirksomhed0.1">statsautoriseret revisor</cmn:DescriptionOfAuditor><cmn:DescriptionOfAuditor contextRef="D-2018-dim-Revisionsvirksomhed0.2">registreret revisor</cmn:DescriptionOfAuditor><cmn:NameAndSurnameOfAuditor contextRef="D-2018-dim-Revisionsvirksomhed0.1">Jens Sejer Pedersen</cmn:NameAndSurnameOfAuditor><cmn:NameAndSurnameOfAuditor contextRef="D-2018-dim-Revisionsvirksomhed0.2">Torben Mortensen</cmn:NameAndSurnameOfAuditor><gsd:TelephoneNumberOfAuditor contextRef="D-2018-dim-Revisionsvirksomhed0">36 10 20 30</gsd:TelephoneNumberOfAuditor><gsd:ReportingPeriodStartDate contextRef="D-2018">2018-01-01</gsd:ReportingPeriodStartDate><gsd:ReportingPeriodEndDate contextRef="D-2018">2018-12-31</gsd:ReportingPeriodEndDate><gsd:PredingReportingPeriodEndDate contextRef="D-2018">2017-12-31</gsd:PredingReportingPeriodEndDate><gsd:PrecedingReportingPeriodStartDate contextRef="D-2018">2017-01-01</gsd:PrecedingReportingPeriodStartDate><cmn:IdentificationNumberOfAuditor contextRef="D-2018-dim-Revisionsvirksomhed0.1">mne14986</cmn:IdentificationNumberOfAuditor><cmn:IdentificationNumberOfAuditor contextRef="D-2018-dim-Revisionsvirksomhed0.2">mne18040</cmn:IdentificationNumberOfAuditor><fsa:NominelValuePerUnitShare unitRef="u-DKK" decimals="0" contextRef="I-2018-E-dim-Kapitalklasse01">1000</fsa:NominelValuePerUnitShare><fsa:NominalValueOfIssuedShares unitRef="u-DKK" decimals="0" contextRef="I-2018-E-dim-Kapitalklasse01">508000</fsa:NominalValueOfIssuedShares><cmn:IdentificationNumberCvrOfAuditFirm contextRef="D-2018-dim-Revisionsvirksomhed0.1">33963556</cmn:IdentificationNumberCvrOfAuditFirm><cmn:IdentificationNumberCvrOfAuditFirm contextRef="D-2018-dim-Revisionsvirksomhed0.2">33963556</cmn:IdentificationNumberCvrOfAuditFirm><cmn:NameOfAuditFirm contextRef="D-2018-dim-Revisionsvirksomhed0.1">Deloitte Statsautoriseret Revisionspartnerselskab</cmn:NameOfAuditFirm><cmn:NameOfAuditFirm contextRef="D-2018-dim-Revisionsvirksomhed0.2">Deloitte Statsautoriseret Revisionspartnerselskab</cmn:NameOfAuditFirm></xbrl>