ÅrsrapportNiels Jørgen Kristensen2013-06-25Regnskabsklasse C, stor virksomhedBeierholmVoergaardvej 29200 Aalborg SV2012-01-012012-12-3118772884Albatros Seafood ApSVesteraa 12, 1.9000 AalborgAalborg70 20 06 0498 16 31 63Jyske Bank A/SBeierholmNiels Jørgen KristensenVoergaardvej 29200 Aalborg SVDanmarkAalborg2013-06-14Jørgen Østergaard NielsenAalborg2013-06-14BeierholmNiels Jørgen KristensenThomas Nic. NielsenStatsaut. revisorStatsaut. revisor358328000225047000224377000775570004951600027489000-29920000-13986000-21253000-10093000-87440001203500010335000-4688000242443000162147000125130000132700024680002804400063130001148000391470002417500015248000-38683000-14770000-7365000-20969000-5398000-475300032714000-382000044450002900800020550000-26938000-23988000-7673000-6523852-61-76161533182902452916491133173199011395879551751726622024332612117328971324677341678127033583814249419895114889432545365337771056167109597132741054233483623336141508146085115047894548434432086381703351100-207879862690190528543269858475940730391761000348139962097217030147415024856-159272821718415-187063482324573217066895958438000-590000-19144348822457-19144348822457-214985122289751002354164-14672944944162649420721009269766102807680022974410830961521272358941136598097986152127230040202736613486710040202736613486715894113659809798402088886136139454042801537586690028265342370022840005979600059796008230814396740553059796006851121996981922195313202027811243545404390607112093967259191166706747869472699000313700061607497169570534787109888079067079067016608148998078008243345612232712434053570317731831063817592425421407113817537977422831021934054977377539212343209102881200177426386599115315285714285714285714285714247000002470000000003136925852867770-517932414359670-11848582-138081001980639039345384198063903934538412700000145000001270000014500000878054408633000000100505440100830000127000001450000018000001800000180000018000004237598069989471107893821502716503168400617274556918036826438295270007120020523777609518105645694311067742168110311400908014794463341757475452699312145145202487746335445747559769931234320910288120017742638659911531514432410-1660410436773788-31570064-762791333958377955851-418190963075613162790152854326985847-37486318-20972170-214530-101771730660197-13376139-1326513-246832600-1326513-2468326147544042194000-1800000-5800000-324560363940002900912420549535-60746929-81296464-31737805-60746929106381759242542-42375980-699894712848925729021957142819214683486340923710814726606250376053114046053114043483623336141508146085115047899036679035119036679035113391032920068659211107441213453481399620972170301474150248562145301017717003002536-121759438000-5900003217066895958438000-59000052997330335533565938262203260135074432063011751111514020-3263005520059036046581777291-3576609-23272588-485517-148690-1046944-4544-2033665-2457283-57486-5758964-26776815-547547494416269269766229744003889480015990039054700-37622500-817000-384395006152008480901876201000352577-281109000000-10008833477848090100528677705057801900-168427-40043900-20396225269019000-9338590003136925952867770Albatros Seafood Production LLCMoskva, Rusland100Prosperity LLCMoskva, Rusland10028571424700000014160661000-62344800822457000-39464600-19144348285714247000000-517932418001000014500163002382431821761220001200007600077000760007700045484344320863-5285432-698584735205757209721703217066895958Jeg har dags dato behandlet og godkendt årsrapporten for regnskabsåret 01.01.12 - 31.12.12 for Albatros Seafood ApS. Today I have presented the annual report for the financial year 01.01.12 - 31.12.12 for Albatros Seafood ApS. Årsrapporten aflægges i overensstemmelse med årsregnskabsloven. The annual report is presented in accordance with the Danish Financial Statements Act (Årsregnskabsloven). Det er min opfattelse, at koncernregnskabet og årsregnskabet giver et retvisende billede af koncernens og selskabets aktiver, passiver og finansielle stilling pr. 31.12.12 og resultatet af koncernens og selskabets aktiviteter samt af koncernens pengestrømme for regnskabsåret 01.01.12 - 31.12.12. In my opinion, the consolidated financial statements and the financial statements give a true and fair view of the group’s and the company’s assets, liabilities and financial position as at 31.12.12 and of the results of their activities for the financial year 01.01.12 - 31.12.12. Ledelsesberetningen indeholder efter min opfattelse en retvisende redegørelse for de forhold beretningen omhandler. I believe that the management’s review gives a true and fair review of the matters dealt with in the review. Årsrapporten indstilles til generalforsamlingens godkendelse. The annual report is submitted for adoption by the general meeting. Til kapitalejerne i Albatros Seafood ApS To the capital owners of Albatros Seafood ApS Vi har revideret koncernregnskabet og årsregnskabet for Albatros Seafood ApS for regnskabsåret 01.01.12 - 31.12.12, der omfatter resultatopgørelse, balance, anvendt regnskabspraksis og noter for såvel koncernen som selskabet samt pengestrømsopgørelse for koncernen. Koncernregnskabet og årsregnskabet udarbejdes efter årsregnskabsloven. We have audited the consolidated financial statements and parent company financial statements of Albatros Seafood ApS for the financial year 01.01.12 - 31.12.12, which comprise income statement, balance sheet, accounting policies and notes for the group as well as for the parent company as well as the consolidated cash flow statement. The consolidated financial statements and parent company financial statements are prepared in accordance with Danish Financial Statements Act.Ledelsen har ansvaret for udarbejdelsen af et koncernregnskab og 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 koncernregnskab og et årsregnskab uden væsentlig fejlinformation, uanset om denne skyldes besvigelser eller fejl. The Management is responsible for the preparation of consolidated financial statements and parent company financial statements that give a true and fair view in accordance with the Danish Financial Statements Act. Furthermore the Management is responsible for the internal control as the Management determines is necessary to enable the preparation of consolidated financial statements and parent company financial statements that are free from material misstatement, whether due to fraud or error.Vores ansvar er at udtrykke en konklusion om koncernregnskabet og årsregnskabet på grundlag af vores revision. Vi har udført revisionen i overensstemmelse med internationale standarder om revision og yderligere krav ifølge dansk revisorlovgivning. Dette kræver, at vi overholder etiske krav samt planlægger og udfører revisionen for at opnå høj grad af sikkerhed for, om koncernregnskabet og årsregnskabet er uden væsentlig fejlinformation. Our responsibility is to express an opinion on the consolidated financial statements and parent company financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing and additional requirements under Danish Audit regulation. This requires that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance that the consolidated financial statements and parent company financial statements are free from material misstatement. En revision omfatter udførelse af revisionshandlinger for at opnå revisionsbevis for beløb og oplysninger i koncernregnskabet og årsregnskabet. De valgte revisionshandlinger afhænger af revisors vurdering, herunder vurdering af risici for væsentlig fejlinformation i koncernregnskabet og årsregnskabet, uanset om denne skyldes besvigelser eller fejl. Ved risikovurderingen overvejer revisor intern kontrol, der er relevant for koncernens og selskabets udarbejdelse af et koncernregnskab og et årsregnskab, der giver et retvisende billede. Formålet hermed er at udforme revisionshandlinger, der er passende efter omstændighederne, men ikke at udtrykke en konklusion om effektiviteten af koncernens og selskabets interne kontrol. En revision omfatter endvidere vurdering af, om ledelsens valg af regnskabspraksis er passende, om ledelsens regnskabsmæssige skøn er rimelige samt den samlede præsentation af koncernregnskabet og årsregnskabet. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements and parent company financial statements. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatements of the consolidated financial statements and parent company financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the group's and the parent company's preparation of consolidated financial statements and parent company financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the group's and the parent company's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Management, as well as the overall presentation of the consolidated financial statements and parent company financial statements. Det er vores opfattelse, at det opnåede revisionsbevis er tilstrækkeligt og egnet som grundlag for vores konklusion. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Revisionen har ikke givet anledning til forbehold. Our audit has not resulted in any qualifications.Det er vores opfattelse, at koncernregnskabet og årsregnskabet giver et retvisende billede af koncernens og selskabets aktiver, passiver og finansielle stilling pr. 31.12.12 samt af resultatet af koncernens og selskabets aktiviteter samt pengestrømme for koncernen for regnskabsåret 01.01.12 - 31.12.12 i overensstemmelse med årsregnskabsloven. In our opinion the consolidated financial statements and parent company financial statements give a true and fair view of the group's and the parent company's assets, liabilities and financial position at 31.12.12 and of the results of the group's and the parent company's operations and the consolidated cash flows for the financial year 01.01.12 - 31.12.12 in accordance with the Danish Financial Statements Act.Vi skal henvise til afsnittet i årsregnskabets note 1 ”Regnskabsmæssig usikkerhed om indregning og måling”. Vi er enige i ledelsens beskrivelse af usikkerhederne om moderselskabets og koncernens kapitalforhold og forholdet har derfor ikke påvirket vores konklusion. We shall call attention to the information in note 1 "Uncertainty concerning recognition and measurement". We agree with management's description of the uncertainties associated with the parent's and the group's capital structure and it has not affected our opinion. Selskabet har i strid med selskabsloven ydet lån til en kapitalejer, hvorved ledelsen kan ifalde ansvar. Beløbet er indfriet efter statusdagen. In contravention of the Danish Companies Act, the company has granted a loan to a shareholder for which reason the management can be held liable. The amount is paid to the company after the balance sheet date.Vi har i henhold til årsregnskabsloven gennemlæst ledelsesberetningen. Vi har ikke foretaget yderligere handlinger i tillæg til den udførte revision af koncernregnskabet og årsregnskabet. Det er på denne baggrund vores opfattelse, at oplysningerne i ledelsesberetningen er i overensstemmelse med koncernregnskabet og årsregnskabet. Pursuant to the Danish Financial Statements Act, we have read the Management’s review. We have not performed any further procedures in addition to the audit of the consolidated financial statements and parent company financial statements. On this basis, it is our opinion that the information provided in the Management’s review is consistent with the consolidated financial statements and parent company financial statements.Præsentation af virksomheden Presentation of the company Koncernens formål er at drive international grossisthandel og produktion af fødevarer. Koncernens væsentligste aktivitet foregår i dattervirksomheden Albatros Seafood Production LLC, Rusland, der forestår produktion, salg og distribution af fødevarer indenfor fiskeindustrien. Selskabet råder over egen produktionsvirksomhed i Moskva og distribution sker fra 5 geografiske optimale placeringer i Rusland. Produkter distribueres til ca. 5.000 detailbutikker i Rusland og Ukraine og koncernen er på visse produktområder den førende leverandør til detailmarkedet i disse lande. Udviklingen i økonomiske aktiviteter og forhold Koncernens resultatopgørelse for 2012 udviser et underskud før skat på 15,9 mio. DKK mod et over skud på 1,7 mio. DKK i foregående år. Koncernens negative resultat kan i vidt omfang henføres til dattervirksomheden Albatros Seafood Trading LLC, hvor underskuddet udgør 13,2 mio. DKK mod et overskud i 2011 på 1,0 mio. DKK. Albatros Seafood Trading LLC er, som en konsekvens heraf, afhændet ultimo regnskabsåret. I koncernens øvrige virksomheder udgør underskuddet 2,7 mio. DKK, som primært kan henføres til en fortsat stigning i råvarepriser samt fortsatte ændringer i russisk lovgivning mht. glaceringsprocessen. I lighed med tidligere år er der an vendt væsentlige ressourcer på tilpasning af selskabets organisation, omkostninger og produkt pro gram for at imødekomme den ændrede markedssituation. Herudover har fokus i 2012 fortsat været ret tet på vækst og effektivisering / automatisering af produktionen. I 2013 er konstateret en væsentlig forbedret margin som konsekvens af effektivisering af produktionen og ændret produktmix. Der forventes yderligere forbedringer i margin. Egenkapitalen udgør 19,8 mio. DKK ved udgangen af 2012. Hertil kommer ansvarlig lånekapital på 14,5 mio. DKK således at den samlede ansvarlige kapital udgør 34,3 mio. DKK. Soliditetsgraden, inkl. ansvarlig lånekapital, udgør 14,6% (2011: 19,3%). Valutakursen på rubler har været forholdsvis stabil i 2012 og har kun i mindre grad påvirket egen kapitalen. Omregning af kapitalen, inkl. udlån, primo året med kursen ved årets slutning har formind sket egenkapitalen med 0,4 mio. DKK. Kapitalforhold og likviditet I 2012 er lån og kreditter hos russiske kreditinstitutter genforhandlet og der er indgået låneaftaler om langfristede lån frem til 2015. I lighed med tidligere år er driftskreditter m.v. genforhandlet i årets løb og driftskreditter m.v. vil – efter praksis i Rusland – blive genforhandlet løbende i 2013, og ledelsen forventer at der indgås nye låneaftaler der matcher kreditbehovene i henhold til lagte budgetter. Bevilgede kreditter og lån hos danske kreditinstitutter forhandles en gang årligt og forventes forlænget på uændrede vilkår. Ledelsen anser, under hensyntagen til foranstående, koncernens kapitalberedskab som forsvarligt i forhold til koncernens drift og aflægger derfor års- og koncernregnskabet under forudsætning af fortsat drift. Usikkerhed ved indregning og måling Koncernens indregning af det udskudte skatteaktiv baseres på resultatforventninger over en flerårig periode. Ledelsen forventer at virksomheden i de kommende år, med stor sandsynlighed realiserer positive skattemæssige resultater, hvorfor udskudt skatteaktiv er indregnet i koncernens balance med 1,7 mio. DKK og med 2,7 mio. i moderselskabets balance. Moderselskabet har igennem de seneste år foretaget udlån på i alt 14 mio. DKK til udenlandske samarbejdsparter. Udlånet er efter statusdagen nedbragt med 4 mio. DKK, og ledelsen forventer at udlånet tilbagebetales indenfor en kortere periode. Videnressourcer Ledelsen og øvrige nøglemedarbejdere er et vigtigt aktiv for koncernen. Særlige risici Koncernen væsentligste risici relateres til driftsrisici, primært markedsudviklingen i Rusland, samt finansielle risici, primært renteudviklingen i Rusland samt valutakursudviklingen på rubler. Samfundsansvar Koncernen har ingen politikker for samfundsansvar. Øvrige forhold Koncernen har ingen forsknings- og udviklingsaktiviteter og specielle miljømæssige forhold, ligesom koncernen ikke har filialer i udlandet. Betydningsfulde hændelser indtruffet efter regnskabsårets afslutning Efter regnskabsårets afslutning er der ikke indtruffet betydningsfulde hændelser, som væ-sentligt vil kunne påvirke koncernens og moderselskabets finansielle stilling. Forventet udvikling For 2013 forventes en stigning i koncernens aktivitetsniveau og et positivt driftsresultat i størrelsesorden 10 mio. DKK. The object of the group is to carry on international wholesale trade and production of food products. The group has its primary activity in its subsidiary Albatros Seafood Production LLC, Russia, which produces, sells and distributes seafood products. The company has its own production company in Moscow and distributes its products from five geographically attractive locations in Russia. Products are distributed to approx. 5,000 retail shops in Russia and Ukraine, and the group is the leading supplier to the retail market in certain product areas in these countries. Development in financial activities and affairs The consolidated income statement for 2012 shows a loss before tax of DKK 15.9m against a profit of DKK 1.7m the year before. The loss is largely attributable to the subsidiary Albatros Seafood Trading LLC, which realised a loss of DKK 13.2m against a profit of DKK 1.0m in 2011. As a consequence, Albatros Seafood Trading LLC was divested at the end of the financial year. The other consolidated companies realised a loss of DKK 2.7m, which is primarily attributable to ever-increasing prices of raw materials as well as continued changes in the Russian legislation regarding the glazing process. As in previous years, considerable resources were devoted to adjusting the company’s organisation, costs and product range to the changed market conditions. In addition, the company maintained its focus on growth and efficiency measures/production automation in 2012. The margin has improved substantially in 2013 as a consequence of the improved production efficien-cy and a changed product mix. The margin is expected to further improve. Equity was DKK 19.8m at the end of 2012. To this should be added subordinate loan capital of DKK 14.5m, bringing the total subordinate loan capital to DKK 34.3m. The solvency ratio, including subor-dinate loan capital, was 14.6% (2011: 19.3%). The rouble exchange rate was relatively stable in 2012 and had only a minor effect on equity. Conver-sion of the capital, including loans, at the beginning of the year at the rate of exchange applicable at the end of the year reduced equity by DKK 0.4m. Capital and liquidity In 2012, loans and credits from Russian banks were renegotiated and loan agreements were concluded for long-term loans until 2015. As in previous years, short-term loans to banks etc. are renegotiated during the year and short-term loans etc. will - after practice in Russia - be renegotiated regularly in 2013, and the management expects new loan agreements to be concluded to match the credit requirements of the budgets prepared. Credits and loans granted by Danish credit institutions are renegotiated once annually and are expected to be renewed on unchanged terms. Taking into account the above, the management considers the group’s financial resources sound in relation to the group’s operations, and the financial statements and consolidated financial statements are therefore presented on a going concern assumption. Recognition and measurement uncertainties The group’s recognition of the deferred tax asset is based on earnings expectations over a period of several years. The management expects that the company will very likely generate taxable profits in the coming years. Consequently, deferred tax assets of DKK 1.7m have been recognised in the consol-idated balance sheet and deferred tax assets of DKK 2.7m have been recognised in the parent’s balance sheet. In recent years, the parent has granted loans totalling DKK 14m to foreign partners. After the balance sheet date, DKK 4m has been repaid on these loans, and the management expects the loans to be fully repaid within the foreseeable future. Knowledge resources The management and other key employees of the company are an important asset to the group. Special risks The most important risks facing the group relate to operating risks, primarily market developments in Russia, and financial risks, primarily interest-rate developments in Russia and the development in the rouble exchange rate. Corporate social responsibility The group has not established any corporate social responsibility policies. Other conditions The group has no research and development activities and no environmental impact to speak of. The group has no branches abroad. Important events occurring after the end of the financial year No important events have occurred after the end of the financial year which may have a significant impact on the group’s and the parent’s financial position. Outlook An increase in the group’s activity level and an operating profit of around DKK 10m are expected for 2013. Årsrapporten er aflagt i overensstemmelse med årsregnskabsloven for store koncerner og virksomheder i regnskabsklasse C. The annual report has been presented in accordance with the Danish Financial Statements Act for large groups and class C enterprises. Den anvendte regnskabspraksis er uændret i forhold til sidste år. The accounting policies have been applied consistently with previous years. I resultatopgørelsen indregnes indtægter i takt med, at de indtjenes, herunder indregnes værdireguleringer af finansielle aktiver og forpligtelser. I resultatopgørelsen indregnes ligeledes alle omkostninger, herunder afskrivninger og nedskrivninger. Income is recognised in the income statement as earned, including value adjustments of financial assets and liabilities. All expenses, including depreciation, amortisation, impairment losses and write-downs, are also recognised in the income statement. I balancen indregnes aktiver, når det er sandsynligt, at fremtidige økonomiske fordele vil tilflyde koncernen, og aktivets værdi kan måles pålideligt. Forpligtelser indregnes i balancen, når det er sandsynligt, at fremtidige økonomiske fordele vil fragå koncernen, og forpligtelsens værdi kan måles pålideligt. Ved første indregning måles aktiver og forpligtelser til kostpris. Efterfølgende måles aktiver og forpligtelser som beskrevet nedenfor for hver enkelt regnskabspost. Assets are recognised in the balance sheet when it is probable that future economic benefits will flow to the company and the value of such assets can be measured reliably. Liabilities are recognised in the balance sheet when it is probable that future economic benefits will flow from the company and the value of such liabilities can be measured reliably. On initial recognition, assets and liabilities are measured at cost. Subsequently, assets and liabilities are measured as described for each item below. Visse finansielle aktiver og forpligtelser måles til amortiseret kostpris, hvorved der indregnes en konstant effektiv rente over løbetiden. Amortiseret kostpris opgøres som oprindelig kostpris med fradrag af eventuelle afdrag samt tillæg/fradrag af den akkumulerede amortisering af forskellen mellem kostpris og nominelt beløb. Certain financial assets and liabilities are measured at amortised cost applying a constant effective rate of interest over the term of the assets and liabilities. Amortised cost is determined as original cost less any principal repayments and less/plus accumulated amortisation of the difference between cost and nominal value. Ved indregning og måling tages hensyn til forudsigelige tab og risici, der fremkommer inden årsrapporten aflægges, og som be- eller afkræfter forhold, der eksisterede på balancedagen. On recognition and measurement, account is taken of foreseeable losses and risks arising before the time at which the annual report is presented and proving or disproving matters arising on or before the balance sheet date. Koncernregnskabet omfatter modervirksomheden og dets dattervirksomheder, hvori modervirksomheden direkte eller indirekte besidder mere end 50% af stemmerettighederne, eller gennem aftaler har en bestemmende indflydelse. Virksomheder, hvori koncernen besidder mellem 20% og 50% af stemmerettighederne og udøver betydelig, men ikke bestemmende indflydelse, betragtes som associerede virksomheder. The consolidated financial statements include the parent and its subsidiaries in which the parent, directly or indirectly, holds more than 50% of the voting rights or in which it has a controlling influence through agreements. Enterprises in which the group holds between 20% and 50% of the voting rights and in which it has a substantial, but not controlling influence, are considered associates. De regnskaber, der anvendes til brug for konsolideringen, aflægges i overensstemmelse med koncernens regnskabspraksis. All financial statements used for consolidation are prepared in accordance with the accounting policies of the group. Koncernregnskabet er udarbejdet som et sammendrag af regnskaber for modervirksomheden og dattervirksomhederne ved sammenlægning af regnskabsposter af ensartet karakter. Ved konsolideringen er der foretaget eliminering af koncerninterne indtægter og omkostninger, besiddelser af kapitalandele, mellemværender og udbytter samt ikke realiseret koncernintern fortjeneste og tab på varebeholdninger og anlægsaktiver. The consolidated financial statements consolidate the audited financial statements of the parent and its subsidiaries, eliminating intercompany income and expenditure, shareholdings, balances and dividends as well as unrealised intercompany gains and losses on inventories and non-current assets. Koncernens andele i fælles kontrollerede virksomheder betragtes som joint ventures og indregnes i koncernregnskabet ved linje for linje at indregne koncernens forholdsmæssige andel (pro rata) af aktiver, passiver samt resultatopgørelse efter forholdsmæssig eliminering af transaktioner med koncernen, herunder realiserede og urealiserede fortjenester og tab. The group’s shares in jointly controlled enterprises are considered joint ventures and are recognised in the consolidated financial statements by recognising, item by item, the group’s pro rata share of assets, liabilities and income statement after a proportionate elimination of transactions with the group, including realised and unrealised gains and losses. Nyerhvervede eller nystiftede virksomheder indregnes i koncernregnskabet fra anskaffelsestidspunktet. Solgte eller afviklede virksomheder indregnes i koncernregnskabet frem til afståelsestidspunktet. Sammenligningstal korrigeres ikke for nyerhvervede, solgte eller afviklede virksomheder. Newly acquired or newly founded enterprises are recognised in the consolidated financial statements as from the time of acquisition. Divested or discontinued enterprises are recognised in the consolidated income statement up until the time of divestment or discontinuation. Comparative figures are not restated for newly acquired, divested or discontinued enterprises. Fortjeneste eller tab ved afhændelse af dattervirksomheder opgøres som forskellen mellem afhændelsessummen og den regnskabsmæssige værdi af nettoaktiver på salgstidspunktet inklusiv ikke-afskrevet goodwill samt forventede omkostninger til salg eller afvikling. Gains or losses on the divestment of subsidiaries are determined as the difference between the disposal consideration and the carrying amount of net assets at the time of divestment, including non-amortised goodwill, as well as the expected costs of divestment or discontinuation. Ved erhvervelse af nye virksomheder anvendes overtagelsesmetoden, hvorefter de nytilkøbte virksomheders identificerbare aktiver og forpligtelser måles til dagsværdi på erhvervelsestidspunktet. Der indregnes en hensat forpligtelse til dækning af omkostninger ved besluttede og offentliggjorte omstruktureringer i den erhvervede virksomhed i forbindelse med købet. Skatteeffekten af de foretagne omvurderinger indregnes. New enterprises are recognised in accordance with the purchase method, according to which the identifiable assets and liabilities of the newly acquired enterprises are recognised at fair value at the time of acquisition. A provision is made to cover expenses incidental to decided and announced restructuring in the acquired enterprise in connection with the acquisition. The tax effect of any reassessments is recognised. Kostprisen for kapitalandelene i de erhvervede virksomheder udlignes med den forholdsmæssige andel af dattervirksomhedernes dagsværdi af nettoaktiver på det tidspunkt, hvor koncernforholdet blev etableret. The cost of the equity investments in the acquired enterprises is set off against the proportionate share of the fair value of the subsidiaries’ net assets at the time of the establishment of the group relationship.Den på erhvervelsestidspunktet opgjorte koncerngoodwill (positivt forskelsbeløb), indregnes som aktiv og afskrives lineært efter en individuel vurdering af aktivets brugstid, dog maksimalt 20 år. Negativ goodwill, der modsvarer en forventet ugunstig udvikling i de pågældende virksomheder, indregnes i balancen under periodeafgrænsningsposter og reduceres i takt med realisering af de forhold, der ligger til grund for forskelsbeløbet. The consolidated goodwill determined at the time of acquisition (positive balance) is recognised as an asset and amortised according to the straightline method based on an individual assessment of the useful life of the asset, the maximum period being, however, 20 years. Consolidated negative goodwill (negative balance), reflecting an expected adverse development in the enterprises in question, is recognised in the balance sheet under deferred income and is reduced as the conditions underlying the negative balance are realised. Goodwill og negativ goodwill fra erhvervede virksomheder kan reguleres indtil udgangen af året efter anskaffelsen. Goodwill and negative goodwill from acquired enterprises can be adjusted until the end of the year after the year in which the acquisition took place. Årsrapporten er aflagt i danske kroner. The annual report is presented in Danish kroner. Transaktioner i fremmed valuta omregnes ved første indregning til transaktionsdagens kurs. Valutakursdifferencer, der opstår mellem transaktionsdagens kurs og kursen på betalingsdagen, indregnes i resultatopgørelsen som en finansiel post. Tilgodehavender, gældsforpligtelser og andre monetære poster i fremmed valuta omregnes til balancedagens valutakurs. Forskellen mellem balancedagens kurs og kursen på tidspunktet for tilgodehavendets eller gældsforpligtelsens opståen eller indregning i seneste årsrapport indregnes i resultatopgørelsen under finansielle indtægter og omkostninger. Ved omregning af regnskabet for en selvstændig udenlandsk enhed anvendes følgende fremgangsmåde - nettoinvesteringsmetoden - ved indarbejdelse i den rapporterende virksomheds årsregnskab: Samtlige aktiver, forpligtelser samt egenkapitalen omregnes til balancedagens kurs. Den valutakursdifference, der opstår ved omregning af primo egenkapitalen til balancedagens kurs, indregnes direkte på egenkapitalen. Resultatopgørelsens poster omregnes til transaktionsdagens kurs. Den valutakursdifference, der opstår som følge af omregning af resultatopgørelsen til transaktionsdagens kurs og balancen til balancedagens kurs, indregnes direkte på egenkapitalen. Valutakursdifferencer, der opstår som følge af ændringer foretaget direkte i den udenlandske enheds egenkapital, indregnes direkte på egenkapitalen. Kursregulering af mellemværender med selvstændige udenlandske enheder, som er et tillæg til eller et fradrag i nettoinvesteringen, indregnes direkte i egenkapitalen. Valutakursgevinster og - tab på finansielle instrumenter indgået til valutakurssikring af selvstændige udenlandske enheder indregnes direkte i egenkapitalen. Ved afhændelse af en selvstændig udenlandsk virksomhed indregnes den akkumulerede kursregulering i resultatopgørelsen sammen med gevinsten eller tabet. Ændring i dagsværdi af afledte finansielle instrumenter, der anses for sikring af fremtidige pengestrømme, indregnes direkte på egenkapitalen. On initial recognition, transactions denominated in foreign currencies are translated at the exchange rate applicable at the transaction date. Exchange rate differences between the exchange rate applicable at the transaction date and the exchange rate applicable at the date of payment are recognised in the income statement as a financial item. Receivables, payables and other monetary items denominated in foreign currencies are translated using the exchange rate applicable at the balance sheet date. The difference between the exchange rate applicable at the balance sheet date and at the date at which the receivable or payable arose or was recognised in the latest annual report is recognised in the income statement under financial income or expenses. For the conversion of financial statements of a foreign entity, the following approach - the net investment method - through incorporation in the reporting enterprise's financial statements: All assets, liabilities and equity are translated at the closing rate. The exchange difference arising on translation of opening shareholders' equity at the closing rate are recognized directly in equity. Income statement items are translated at transaction date. The exchange difference arising from the translation of the profit to transaction closing rate and the balance at the closing rate are recognized directly in equity. Exchange differences arising from changes made directly in the foreign entity's equity, are recognized directly in equity. Translation adjustments of intra-group balances with independent foreign subsidiaries which are considered part of the investment in the subsidiary are recognised directly in equity. Similarly, foreign exchange gains and losses on loans and derivative financial instruments designated as hedges of foreign subsidiaries are also recognised directly in equity. On the sale of a foreign company recognized the accumulated adjustment in the income statement together with the gain or loss. Changes to the fair value of derivative financial instruments for hedging future cash flows are recognised directly in equity. Indtægter ved salg af varer indregnes i resultatopgørelsen, såfremt levering og risikoovergang til køber har fundet sted inden udgangen af regnskabsåret. Nettoomsætning måles til dagsværdi og opgøres ekskl. moms og rabatter. Income from the sale of goods is recognised in the income statement provided that delivery has taken place and the risk has passed to the buyer by the end of the financial year. Revenue is determined at fair value less VAT and discounts. Afskrivninger på materielle anlægsaktiver tilsigter, at der sker systematisk afskrivning over aktivernes forventede brugstid. For koncernen er anvendt følgende brugstider og restværdier: The amortisation of depreciation of property, plant and equipment aim at systematic depreciation and amortisation over the expected useful lives of the assets. The following useful lives and residual values are applied by the group: Brugstid Rest- værdi Useful life (years) Residual value Bygninger 20 år 0% Land and buildings 20 0% Produktionsanlæg og maskiner 5 - 7 år 0% Plant and machinery 5 - 7 0% Andre anlæg, driftsmateriel og inventar 3 - 5 år 0% Other plant, fixtures and fittings, tools and equipment 3 - 5 0% Grunde afskrives ikke. Land is not depreciated. Nyanskaffelser af produktionsanlæg og maskiner samt andre anlæg, driftsmateriel og inventar med kostpris på under DKK 12.300 pr. stk. indregnes i resultatopgørelsen i anskaffelsesåret. New acquisitions of plant and machinery as well as other plant, fixtures and fittings, tools and equipment with a cost not exceeding DKK 12.300 each are recognised in the income statement in the year of acquisition. Under finansielle poster indregnes renteindtægter og renteomkostninger, kursregulering af fremmed valuta samt realiserede og urealiserede kursgevinster og -tab på værdipapirer. Interest income and interest expenses, foreign currency translation adjustments as well as realised and unrealised capital gains and losses on securities are recognised under net financials. Amortisering af kurstab og låneomkostninger vedrørende finansielle aktiver og forpligtelser indregnes løbende som finansiel omkostning henholdsvis finansiel indtægt. Amortisation of capital losses and loan costs relating to financial assets and liabilities is recognised on an ongoing basis as financial expenses and financial income, respectively. Årets aktuelle og udskudte skatter indregnes i resultatopgørelsen som årets skatter med den del, der kan henføres til årets resultat, og direkte på egenkapitalen med den del, der kan henføres til posteringer foretaget direkte på egenkapitalen. The current and deferred taxes for the year are recognised in the income statement as taxes for the year with the portion attributable to the net profit or loss for the year, and directly in equity with the portion attributable to amounts recognised directly in equity. Selskabet er sambeskattet med danske koncernforbundne virksomheder. The company is taxed jointly with the Danish consolidated enterprises. Den aktuelle danske selskabsskat fordeles ved afregning af sambeskatningsbidrag mellem de sambeskattede virksomheder i forhold til disses skattepligtige indkomster. I tilknytning hertil modtager virksomheder med skattemæssigt underskud sambeskatningsbidrag fra virksomheder, der har kunnet anvende dette underskud til nedsættelse af eget skattemæssigt overskud. In connection with the settlement of joint taxation contributions, the current Danish income tax is allocated between the jointly taxed enterprises in proportion to their taxable incomes. This means that enterprises with a tax loss receive joint taxation contributions from enterprises which have been able to use this loss to reduce their own taxable profit. Materielle anlægsaktiver måles i balancen til kostpris med tillæg af opskrivninger til dagsværdi og med fradrag af akkumulerede afskrivninger eller til genindvindingsværdien, hvor denne er lavere. Opskrivninger sker på grundlag af regnskabsmæssige, uafhængige vurderinger af dagsværdien. Property, plant and equipment are measured in the balance sheet at the lower of cost plus revaluations at fair value and less accumulated depreciation and recoverable amount. Kostprisen omfatter anskaffelsesprisen samt omkostninger direkte tilknyttet anskaffelsen indtil det tidspunkt, hvor aktivet er klar til brug. Cost comprises the purchase price and any costs directly attributable to the purchase until the date when the asset is available for use. Fortjeneste eller tab ved afhændelse af materielle anlægsaktiver opgøres som forskellen mellem salgspris med fradrag af salgsomkostninger og den regnskabsmæssige værdi på salgstidspunktet. Gains and losses from the disposal of property, plant and equipment are determined as the difference between the selling price less selling costs and the carrying amount on the date of disposal. I modervirksomhedens balance måles kapitalandele i dattervirksomheder til kostpris med fradrag for eventuel nedskrivning. Equity investments in subsidiaries are measured at cost less any impairment in the balance sheet of the parent. Kapitalandele i dattervirksomheder, der indregnes og måles til den indre værdis metode, med regnskabsmæssig negativ værdi måles til DKK 0. Et eventuelt tilgodehavende hos disse virksomheder nedskrives i det omfang, tilgodehavendet er uerholdeligt. I det omfang modervirksomheden har en retlig eller faktisk forpligtelse til at dække en underbalance, der overstiger tilgodehavendet, indregnes det resterende beløb under hensatte forpligtelser. Equity investments in subsidiaries which are recognised at the proportionate share of the investment in the enterprises with a negative carrying amount are measured at DKK 0. Any receivable from these enterprises is written down to the extent the receivable is unrecoverable. If the parent has a legal or constructive obligation to cover a deficit which exceeds the receivable, the remaining amount is recognised under provisions. Ved erhvervelse af nye virksomheder, der indregnes til den forholdsmæssigt ejede andel af virksomhederne, anvendes overtagelsesmetoden, jf. beskrivelsen ovenfor i afsnittet ”Koncernregnskab”. When acquiring new enterprises that are recognised at the proportionate share of the investment in the enterprises, the purchase method is used as described above under ‘Consolidated financial statements’. I modervirksomhedens balance måles kapitalandele i dattervirksomheder til kostpris med fradrag for eventuel nedskrivning. Equity investments in subsidiaries are measured at cost less any impairment in the balance sheet of the parent. Kapitalandele i dattervirksomheder, der indregnes og måles til den indre værdis metode, med regnskabsmæssig negativ værdi måles til DKK 0. Et eventuelt tilgodehavende hos disse virksomheder nedskrives i det omfang, tilgodehavendet er uerholdeligt. I det omfang modervirksomheden har en retlig eller faktisk forpligtelse til at dække en underbalance, der overstiger tilgodehavendet, indregnes det resterende beløb under hensatte forpligtelser. Equity investments in subsidiaries which are recognised at the proportionate share of the investment in the enterprises with a negative carrying amount are measured at DKK 0. Any receivable from these enterprises is written down to the extent the receivable is unrecoverable. If the parent has a legal or constructive obligation to cover a deficit which exceeds the receivable, the remaining amount is recognised under provisions. Ved erhvervelse af nye virksomheder, der indregnes til den forholdsmæssigt ejede andel af virksomhederne, anvendes overtagelsesmetoden, jf. beskrivelsen ovenfor i afsnittet ”Koncernregnskab”. When acquiring new enterprises that are recognised at the proportionate share of the investment in the enterprises, the purchase method is used as described above under ‘Consolidated financial statements’. Den regnskabsmæssige værdi af anlægsaktiver, der ikke måles til dagsværdi, vurderes årligt for indikationer på værdiforringelse ud over det, som udtrykkes ved afskrivning. The carrying amount of non-current assets which are not measured at fair value is assessed annually for indications of impairment over and above what is reflected in depreciation/ amortisation. Varebeholdninger måles til kostpris efter FIFO-princippet eller nettorealisationspris, hvor denne er lavere. Inventories are measured at the lower of cost according to the FIFO principle and net realisable value. Kostpris for råvarer og hjælpematerialer samt handelsvarer opgøres som købspriser med tillæg af omkostninger direkte foranlediget af anskaffelsen. The cost of raw materials and consumables as well as goods for resale is determined as purchase prices plus expenses incurred directly in connection with the purchase. Kostpris for fremstillede færdigvarer og varer under fremstilling opgøres som værdien af direkte medgåede materialer og løn. Renter af lån til at finansiere fremstillingen indregnes i kostprisen. The cost of manufactured goods and work in progress is determined as the value of direct and indirect material and labour costs. Production overheads include indirect material and labour costs as well as maintenance and depreciation of machinery, buildings and equipment used in the production process as well as the costs of factory administration and management. Interest on loans to finance production is included in the cost. Tilgodehavender måles til amortiseret kostpris, hvilket sædvanligvis svarer til pålydende værdi med fradrag af nedskrivning til imødegåelse af tab. Receivables are measured at amortised cost, which usually corresponds to nominal value, less write-downs for bad debts. Nedskrivning til imødegåelse af tab opgøres på grundlag af en individuel vurdering af de enkelte tilgodehavender. Write-downs for bad debts are determined on the basis of an assessment of the individual receivables. Periodeafgrænsningsposter, der er indregnet under aktiver, omfatter afholdte omkostninger vedrørende efterfølgende regnskabsår. Prepayments recognised under assets comprise costs incurred in respect of the subsequent financial year. Forslag til udbytte for regnskabsåret indregnes som særlig post under egenkapitalen. The proposed dividend for the financial year is recognised as a special item under equity. Nettoopskrivning af kapitalandele i associerede virksomheder indregnes under egenkapitalen i reserve for nettoopskrivning efter indre værdis metode i det omfang, den regnskabsmæssige værdi overstiger anskaffelsesværdien. Net revaluation of equity investments in associates is recognised under equity in the reserve for net revaluation according to the equity method to the extent that the carrying amount exceeds the acquisition cost. Skyldig og tilgodehavende aktuel skat indregnes i balancen som beregnet skat af årets skattepligtige indkomst, reguleret for betalte acontoskatter. Current tax payable and receivable is recognised in the balance sheet as tax computed on the basis of the taxable income for the year, adjusted for tax paid on account. Skyldige og tilgodehavende sambeskatningsbidrag indregnes i balancen som selskabsskat under tilgodehavender eller gældsforpligtelser. Joint taxation contributions payable and receivable are recognised as income tax in the balance sheet under receivables or payables. Udskudte skatteforpligtelser og udskudte skatteaktiver beregnes af alle midlertidige forskelle mellem regnskabsmæssige og skattemæssige værdier af aktiver og forpligtelser og indregnes i balancen med den gældende skatteprocent. Der indregnes dog ikke udskudt skat af midlertidige forskelle vedrørende skattemæssigt ikke-afskrivningsberettiget goodwill samt andre poster, hvor midlertidige forskelle, bortset fra virksomhedsovertagelser, er opstået på anskaffelsestidspunktet uden at have effekt på resultat eller skattepligtig indkomst. Deferred tax liabilities and deferred tax assets are computed on the basis of all temporary differences between the carrying amount and tax base of assets and liabilities and are recognised in the balance sheet at the tax rate applicable. However, deferred tax is not recognised on temporary differences relating to goodwill which is non-amortisable for tax purposes and other items where temporary differences, except for acquisitions, have arisen at the date of acquisition without affecting either the net profit or loss for the year or the taxable income. Udskudte skatteaktiver indregnes med den værdi, de efter vurdering forventes at kunne realiseres til ved modregning i udskudte skatteforpligtelser eller ved udligning i skat af fremtidig indtjening. Deferred tax assets are recognised, following an assessment, at the expected realisable value through a set-off against deferred tax liabilities or against tax on future earnings. Langfristede gældsforpligtelser måles til kostpris på tidspunktet for stiftelse af gældsforholdet (lånoptagelsen). Gældsforpligtelserne måles herefter til amortiseret kostpris, hvor kurstab og låneomkostninger indregnes i resultatopgørelsen som en finansiel omkostning over løbetiden på grundlag af den beregnede, effektive rente på tidspunktet for stiftelse af gældsforholdet. Long-term payables are measured at cost at the time of contracting such payables (raising the loans). Payables are subsequently measured at amortised cost, where capital losses and borrowing costs are distributed over the term of the payables on the basis of the calculated, effective rate of interest at the time of contracting such payables. Kortfristede gældsforpligtelser måles ligeledes til amortiseret kostpris, hvilket normalt svarer til gældens pålydende værdi. Short-term payables are also measured at amortised cost, which usually corresponds to the nominal value of the debt. Pengestrømsopgørelsen opstilles efter den indirekte metode og viser pengestrømme fra driften, investeringer, finansiering og ændring i årets pengestrømme samt likviditeten ved årets begyndelse og slutning. The cash flow statement is prepared using the indirect method, showing cash flows from operating, investing and financing activities as well as changes in cash flows for the year and cash and cash equivalents at the beginning and end of the year. Pengestrømme fra driften opgøres som årets resultat, reguleret for ikke likvide driftsposter, betalte selskabsskatter samt ændring i driftskapitalen. Cash flows from operating activities comprise net profit or loss for the year, adjusted for non-cash operating items, income tax paid and changes in working capital. Pengestrømme fra investeringer omfatter køb og salg af anlægsaktiver reguleret for ændringer i tilhørende tilgodehavender og gæld. Cash flows from investing activities comprise purchase and sale of non-current assets adjusted for related changes in receivables and debt. Pengestrømme fra finansiering omfatter finansiering fra og udbetalt udbytte til kapitalejere samt optagelse af og afdrag på langfristede gældsforpligtelser. Cash flows from financing activities comprise financing from and dividend paid to shareholders as well as the arrangement and repayment of long-term payables. Likviditeten ved årets begyndelse og slutning sammensætter sig af likvide beholdninger, værdipapirer uden væsentlig kursrisiko og kortfristet gæld til kreditinstitutter. Cash and cash equivalents at the beginning and end of the year comprise cash securities with no significant price risk and debt to credit institutions. Egenkapitalens forrentning: Ordinært resultat efter skat x 100 Gennemsnitlig egenkapital Return on equity: Profit/loss from ordinary activities after tax x 100 Average equity Afkastgrad: Årets resultat x 100 Gennemsnitlig samlede aktiver Return on capital employed: Profit/loss of the year x 100 Avg. total assets Nøgletallene er beregnet efter Den Danske Finansanalytikerforenings anbefalinger. The ratios have been computed in accordance with the recommendations of the Danish Society of Financial Analysts (Den Danske Finansanalytikerforening).Kapitalforhold og likviditet I 2012 er lån og kreditter hos russiske kreditinstitutter genforhandlet og der er indgået låneaftaler om langfristede lån frem til 2015. I lighed med tidligere år er driftskreditter m.v. genforhandlet i årets løb og driftskreditter m.v. vil – efter praksis i Rusland – blive genforhandlet løbende i 2013, og ledelsen forventer at der indgås nye låneaftaler der matcher kreditbehovene i henhold til lagte budgetter. Bevilgede kreditter og lån hos danske kreditinstitutter forhandles en gang årligt og forventes forlænget på uændrede vilkår. Ledelsen anser, under hensyntagen til foranstående, koncernens kapitalberedskab som forsvarligt i forhold til koncernens drift og aflægger derfor års- og koncernregnskabet under forudsætning af fortsat drift. Indregning og måling Koncernens indregning af det udskudte skatteaktiv baseres på resultatforventninger over en flerårig periode. Ledelsen forventer at virksomheden i de kommende år, med stor sandsynlighed realiserer positive skattemæssige resultater, hvorfor udskudt skatteaktiv er indregnet i koncernens balance med 1,7 mio. DKK og med 2,7 mio. i moderselskabets balance. Moderselskabet har igennem de seneste år foretaget udlån på i alt 14 mio. DKK til udenlandske samarbejdsparter. Udlånet er efter statusdagen nedbragt med 4 mio. DKK og ledelsen forventer at udlånet tilbagebetales indenfor en kortere periode. Capital and liquidity In 2012, loans and credits from Russian banks were renegotiated and loan agreements were concluded for long-term loans until 2015. As in previous years, short-term loans to banks etc. are renegotiated during the year and short-term loans etc. will - after practice in Russia - be renegotiated regularly in 2013, and the management expects new loan agreements to be concluded to match the credit requirements of the budgets prepared. Credits and loans granted by Danish credit institutions are renegotiated once annually and are expected to be renewed on unchanged terms. Taking into account the above, the management considers the group’s financial resources sound in relation to the group’s operations, and the financial statements and consolidated financial statements are therefore presented on a going concern assumption. Recognition and measurement The group’s recognition of the deferred tax asset is based on earnings expectations over a period of several years. The management expects that the company will very likely generate taxable profits in the coming years. Consequently, deferred tax assets of DKK 1.7m have been recognised in the consol-idated balance sheet and deferred tax assets of DKK 2.7m have been recognised in the parent’s balance sheet. In recent years, the parent has granted loans totalling DKK 14m to foreign partners. After the balance sheet date, DKK 4m has been repaid on these loans, and the management expects the loans to be fully repaid within the foreseeable future.Den ansvarlige lånekapital træder tilbage for øvrige kreditorer. Lån på 8,1 mio. DKK hos Mezzanin Kapital A/S forrentes med interbankrente 3 måneder + 7% p.a. Afvikling påbegyndes den 30.09.10 i med 18 kvartårligt afdrag. Lån på 10 mio. DKK hos moderselskabet Alpina ApS forrentes med 11% p.a. Afdrag foretages kun i det omfang Albatros Seafood ApS' likviditet gør det muligt efter 01.07.07. Gældsbrevet forfalder senest den 01.08.15. The subordinate loan capital ranks after other creditors. A loan of DKK 8.1m with Mezzanin Kapital A/S carries interest at the interbank rate three months + 7% p.a. Repayment begins on 30 September 2010 in 18 quarterly instalments. A loan of DKK 10m with the parent Alpina ApS carries interest at the rate of 11% p.a. The loan is only repaid to the extent that Albatros Seafood ApS’s liquidity allows it after 1 July 2007. The debt certificate falls due on 1 August 2015 at the latest.Koncernen: Group: Koncernen er løbende involveret i tvister/sager. Det er ledelsens opfattelse, at disse ikke vil have væsentlig indflydelse på selskabets økonomiske stilling. The company has certain pending legal proceedings. It is the opinion of the management that these proceedings will not materially influence the financial position of the group and the parent. Modervirksomheden: Parent: Selskabet er løbende involveret i tister/sager. Det er ledelsens opfattelse, at disse ikke vil have væsentlig indflydelse på selskabets økonomiske stilling. The company has certain pending legal proceedings. It is the opinion of the management that these proceedings will not materially influence the financial position of the group and the parent.Koncernen: Group: For engagement med en russisk bank er der stillet sikkerhed med maskiner i Albatros Seafood Production LLC. Maskinerne havde pr. 31.12.12 en bogført værdi på t.DKK 9.300. For indgået factoringaftale med russisk bank er der stillet sikkerhed med debitorerne. Debitorer omfattet af factoringaftalen var pr. 31.12.12 på ca. 20 mio. DKK. Til sikkerhed for mellemværende med pengeinstitut i Danmark er afgivet virksomhedspant på t.DKK 10.000. For commitment to a Russian bank was provided security with machinery in Albatros Seafood Production LLC. The machinery had as at 31.12.12 a carrying amount of DKK 9,300k. Receivables were provided as security for a factoring agreement signed with a Russian bank. As at 31 December 2012, the factoring agreement had a value of approx. DKK 20m. A company charge of DKK 10,000k were provided as security for an outstanding account with a Danish bank. Modervirksomheden: Parent: Til sikkerhed for mellemværende med pengeinstitut i Danmark er afgivet virksomhedspant på t.DKK 10.000. Til sikkerhed for mellemværende med pengeinstitutter i Danmark er ligeledes stillet sikkerhed med koncernens kapitalandele i Albatros Seafood Production LLC og Prosperity LLC. Kapitalandelene har en bogført værdi på t.DKK 40.203. A company charge of DKK 10,000k were provided as security for an outstanding account with a Danish bank. Furthermore, the group’s equity investments in Albatros Seafood Production LLC and Prosperity LLC were provided as security for an outstanding account with Danish banks. The carrying amount of the equity investments is DKK 40,203k.Grundlag for indflydelse Basis of influence Bestemmende indflydelse: Controlling influence: Alpina ApS, Aalborg Hovedanpartshaver Majority shareholder Jørgen Ø. Nielsen, Ridevænget 27, 9230 Svenstrup J. Direktør/hovedanpartshaver Manager/Majority shareholder Selskabet har haft transaktioner med de øvrige koncernforbundne selskaber. Samhandlen udgør betaling for leje af bygninger og salg af maskiner samt almindelig samhandel vedr. køb og salg af varer. Moderselskabet Alpina ApS har ifølge gældsbrev stillet ansvarlig lånekapital på 10 mio. DKK. Afdrag foretages kun i det omfang Albatos Seafood ApS' likviditet gør det muligt efter 01.07.07. Gældsbrevet forrentes på markedsvilkår og forfalder senest den 01.08.15. Herudover har der ikke i årets løb, bortset fra koncerninterne transaktioner, der er elimineret i koncernregnskabet samt normalt ledelsesvederlag været gennemført transaktioner med direktionen eller andre nærtstående parter. Ejerforhold: Følgende kapitalejere ejer mere end 5% af selskabskapitalen: Alpina ApS, Aalborg Alfiruto Holding ApS, Aalborg. The company had transactions with the other consolidated companies. The trade constitutes payment for property rentals and sale of machinery as well as ordinary purchase and sale of goods. According to the debt certificate, the parent Alpina ApS provided subordinate loan capital of DKK 10m. The loan is only repaid to the extent that Albatros Seafood ApS’s liquidity allows it after 1 July 2007. The debt certificate carries interest at the market rate and falls due on 1 August 2015 at the latest. Other than that, there have been no transactions with the Board of Executives or other related parties, except for intercompany transactions which have been eliminated in the consolidated financial statements and the usual remuneration to the management. Ownership: The following shareholders have been registered in the company's register of shareholders as holding more than 5 per cent of the share capital: Alpina ApS, Aalborg, Denmark Alfiruto Holding ApS, Aalborg, Denmark.. Koncern Group Modervirksomhed Parent 31.12.12 31.12.11 31.12.12 31.12.11 DKK DKK DKK DKK Tilgodehavender hos medlemmer af direktionen: Receivables from members of the Executive Board: Saldo pr. 31.12.11 0 0 0 0 Balance as at 31.12.11 Rente 6.567 0 6.567 0 Interest Indbetalt i årets løb 0 0 0 0 Paid in during the year Udbetalt i årets løb 72.500 0 72.500 0 Paid out during the year Saldo pr. 31.12.12 79.067 0 79.067 0 Balance as at 31.12.12 Tilgodehavender forrentes i henhold til gældende lovgivning. Beløbet er indfriet efter statusdagen. Account receivable bear interest in accordance with applicable law. The amount is paid to the company after the balance sheet 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