Årsrapport 30700228 EY Godkendt Revisionspartnerselskab Dirch Passers Allé 36 Postboks 250, 2000 Frederiksberg 2022-01-01 2022-12-31 2021-01-01 2021-12-31 15112905 Teleperformance Danmark A/S Hedegaardsvej 88, 2. 2300 København S 1991-04-01 København KPMG P/S Statsautoriseret revisionspartnerselskab 25578198 Fredriks Plads 42 8000 Aarhus C 2023-06-01 Jakob Peter Gundesen Regnskabsklasse B Revisionspåtegning Grundlag for konklusion Konklusion true true 2023-06-01 2023-06-01 CaseWare Working Papers Copenhagen Jakob Peter Gundesen Ioannis Tourkomanis Chairman Kalliopi Grypari Björn Michael Gösta Olofsson Aarhus Katrine Gybel State Authorised Public Accountant mne45848 41684805 41966575 41002732 36027213 586672 835122 606 0 94795 5104240 78380 77520 750595 232571 -577420 4949189 -126893 1060323 -450527 3888866 -450527 3888866 10913 24854 10913 24854 659013 814462 659013 814462 941201 941201 941201 941201 1611127 1780517 14470716 7386473 10133944 15303573 1669080 1542187 175411 981819 981276 1032436 27430427 26246488 27430427 26246488 29041554 28027005 504000 504000 21565357 22015884 22069357 22519884 2060489 1645801 2040941 0 2870767 3861320 6972197 5507121 6972197 5507121 29041554 28027005 504000 18127018 3888866 504000 22015884 -450527 504000 21565357 38806152 34110000 1406377 1186817 790203 730396 41002732 36027213 96 95 5538 0 72842 77520 -126893 1060323 -126893 1060323 97735 97735 72881 13941 86822 10913 4112607 417889 774827 3755669 3298145 572730 774219 3096656 659013 941201 941201 941201 Today, the Board of Directors and the Executive Board have discussed and approved the annual report of Teleperformance Danmark A/S for the financial year 1 January - 31 December 2022. The annual report is prepared in accordance with the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the financial position of the Company at 31 December 2022 and of the results of the Company's operations for the financial year 1 January - 31 December 2022. Further, in our opinion, the Management's review gives a fair review of the matters discussed in the Management's review. We recommend that the annual report be approved at the annual general meeting. To the shareholder of Teleperformance Danmark A/S We have audited the financial statements of Teleperformance Danmark A/S for the financial year 1 January - 31 December 2022, which comprise an income statement, balance sheet, statement of changes in equity and notes, including accounting policies. The financial statements are prepared in accordance with the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the financial position of the Company at 31 December 2022, and of the results of the Company's operations for the financial year 1 January - 31 December 2022 in accordance with the Danish Financial Statements Act. We conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the "Auditor's responsibilities for the audit of the financial statements" section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Independence We are independent of the Company in accordance with the International Ethics Standards Board for Accountants' International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. 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 Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting in preparing the financial statements unless Management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. Our objectives are to obtain reasonable assurance as to whether the financial statements as a whole are free from material misstatement, whether due to fraud or error and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements. As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgement and maintain professional skepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error as fraud may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal control. Obtain an understanding of internal control relevant to the audit 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 Company's internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management. Conclude on the appropriateness of Management's use of the going concern basis of accounting in preparing the financial statements and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern. Evaluate the overall presentation, structure and contents of the financial statements, including the note disclosures, and whether the financial statements represent the underlying transactions and events in a manner that gives a true and fair view. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Management is responsible for the Management's review. Our opinion on the financial statements does not cover the Management's review, and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the Management's review and, in doing so, consider whether the Management's review is materially inconsistent with the financial statements or our knowledge obtained during the audit, or otherwise appears to be materially misstated. Moreover, it is our responsibility to consider whether the Management's review provides the information required under the Danish Financial Statements Act. Based on the work we have performed, we conclude that the Management's review is in accordance with the financial statements and has been prepared in accordance with the requirements of the Danish Financial Statement Act. We did not identify any material misstatement of the Management's review. The principal activity of the company is to provide client contact services delivered as partial or total solutions to companies. The income statement for 2022 shows a loss of DKK 450,527 against a profit of DKK 3,888,866 last year, and the balance sheet at 31 December 2022 shows equity of DKK 22,069,357. During 2023, two clients of Teleperformance Denmark decided not to prolong their contracts, resulting in material impact to the financial position of Teleperformance Denmark. The impact is in total estimated to revenue loss of 29 911 k dkk during 2023. Teleperformance Denmark has a strong focus on getting new clients to compensate for the loss of revenue, and at the same time working to reduce expenses. One initiative already agreed is a reduction of office space which will significantly reduce over head cost. The annual report of Teleperformance Danmark A/S for 2022 has been prepared in accordance with the provisions in the Danish Financial Statements Act applying to reporting class B entities and elective choice of certain provisions applying to reporting class C entities. The accounting policies used in the preparation of the financial statements are consistent with those of last year. Minor reclassifications in the comparative financial statements have been incorporated to enhance presentation. The reclassifications have no effect on profit before tax, profit for the year or equity. Income is recognized in the income statement as it is earned, including value adjustments of financial assets and liabilities. All expenses including amortization, depreciation, and impairment losses, are also recognized in the income statement. Assets are recognized in the balance sheet when it is probable that the future economic benefits will flow to the company and the value of the asset can be measured reliably. Liabilities are recognized in the balance sheet when it is probable that the future economic benefits will flow from the company and the value of the liability can be measured reliably. On initial recognition, assets and liabilities are measured at cost. On subsequent recognition, assets and liabilities are measured as described below for each individual accounting item. Certain financial assets and liabilities are measured at amortized cost using the effective interest method. Amortized cost is calculated as the historic cost less any installments plus/less the accumulated amortization of the difference between the cost and the nominal amount. On recognition and measurement, allowance is made to predictable risks and losses that arise before the annual report is presented and which confirm or invalidate circumstances existing at the balance sheet date. Reporting currency The financial statements are presented in Danish kroner (DKK). On initial recognition, transactions denominated in foreign currencies are translated at the exchange rate at the transaction date. Foreign exchange differences arising between the exchange rates at the transaction date and the date of payment are recognised in the income statement as financial income or financial expenses. Receivables and payables and other monetary items denominated in foreign currencies are translated at the exchange rate at the balance sheet date. The difference between the exchange rates at the balance sheet date and the date at which the receivable or payable arose or was recognised in the most recent financial statements is recognised in the income statement as financial income or financial expenses. The Company has chosen IAS 11/IAS 18 as interpretation for revenue recognition. Income from the sale of service is recognized in the income statement, provided that the transfer of risk, usually on delivery to the buyer, has taken place and that the income can be measured reliably and is expected to be received. The items revenue, cost of sales, other operating income and external expenses have been aggregated into one item in the income statement called gross profit in accordance with section 32 of the Danish Financial Statements Act. Other operating income comprise items of a secondary nature relative to the Company's core activities, including gains on the sale of fixed assets. Other external expenses include the year's expenses relating to the Company's core activities, including expenses relating to distribution, sale, advertising, administration, premises, bad debts, payments under operating leases, etc. Staff costs include wages and salaries, including compensated absence and pension to the Company's employees, as well as other social security contributions, etc. The item is net of refunds from public authorities. The item comprises amortisation/depreciation of intangible assets and property, plant and equipment. The basis of amortisation, which is calculated as cost less any residual value, is amortised on a straight line basis over the expected useful life. The expected useful lives of the assets are as follows: Software 3-5 years Where individual components of an item of property, plant and equipment have different useful lives, they are accounted for as separate items, which are depreciated separately. The basis of depreciation, which is calculated as cost less any residual value, is depreciated on a straight line basis over the expected useful life. The expected useful lives of the assets are as follows: Other fixtures and fittings, tools and equipment 2-5 years Gains or losses from the disposal of equipment are recognized in the income statement as other operating income or other operating expenses, respectively. Other operating expenses comprise items of a secondary nature relative to the Company's core activities, including losses on the sale of fixed assets. Financial income and expenses are recognised in the income statement at the amounts that relate to the financial reporting period. The items comprise interest income and expenses, e.g. from group entities and associates, declared dividends from other securities and investments, financial expenses relating to finance leases, realised and unrealised capital gains and losses relating to other securities and investments, exchange gains and losses and amortisation of financial assets and liabilities. Tax for the year includes current tax on the year's expected taxable income and the year's deferred tax adjustments. The portion of the tax for the year that relates to the profit/loss for the year is recognised in the income statement, whereas the portion that relates to transactions taken to equity is recognised in equity. Software in the balance sheet is measured at cost less accumulated amortisation and impairment losses. Software is amortized on a straight-line basis over the estimated useful life. Property, plant and equipment Items of property, plant and equipment are measured at cost less accumulated depreciation and impairment losses. Cost includes the acquisition price and costs directly related to the acquisition until the time at which the asset is ready for use. Gains or losses are calculated as the difference between the selling price less selling costs and the carrying amount at the date of disposal. Gains and losses from the disposal of property, plant and equipment are recognised in the income statement as other operating income or other operating expenses. The deposit regarding leasing is included in the fixed asset investments. Deposits are measured at cost price The carrying amount of intangible assets, property, plant and equipment is assessed for impairment on an annual basis. Impairment tests are conducted on assets or groups of assets when there is evidence of impairment. The carrying amount of impaired assets is reduced to the higher of the net selling price and the value in use (recoverable amount). The recoverable amount is the higher of the net selling price of an asset and its value in use. The value in use is calculated as the present value of the expected net cash flows from the use of the asset or the group of assets and the expected net cash flows from the disposal of the asset or the group of assets after the end of the useful life. Previously recognised impairment losses are reversed when the reason for recognition no longer exists. Impairment losses on goodwill are not reversed. The Company has chosen IAS 39 as interpretation for impairment write-down of financial receivables. Receivables are measured at amortised cost. An impairment loss is recognised if there is objective evidence that a receivable or a group of receivables is impaired. If there is objective evidence that an individual receivable has been impaired, an impairment loss is recognised on an individual basis. Receivables in respect of which there is no objective evidence of individual impairment are tested for objective evidence of impairment on a portfolio basis. The portfolios are primarily based on the debtors' domicile and credit ratings in line with the Company's risk management policy. The objective evidence applied to portfolios is determined based on historical loss experience. Impairment losses are calculated as the difference between the carrying amount of the receivables and the present value of the expected cash flows, including the realisable value of any collateral received. The effective interest rate for the individual receivable or portfolio is used as discount rate. Prepayments recognised under "Assets" comprise prepaid expenses regarding subsequent financial reporting years. Given the nature of the Group's cash pool arrangement, cash pool balances are not considered cash, but are recognised under "Receivables from group entities". Current tax payables and receivables are recognised in the balance sheet as the estimated income tax charge for the year, adjusted for prior-year taxes and tax paid on account. Deferred tax is measured according to the liability method on all temporary differences between the carrying amount and the tax base of assets and liabilities. However, deferred tax is not recognised on temporary differences relating to goodwill which is not deductible for tax purposes and on office premises and other items where temporary differences, apart from business combinations, arise at the date of acquisition without affecting either profit/loss for the year or taxable income. Where alternative tax rules can be applied to determine the tax base, deferred tax is measured based on Management's intended use of the asset or settlement of the liability, respectively. Deferred tax is measured according to the tax rules and at the tax rates applicable at the balance sheet date when the deferred tax is expected to crystallise as current tax. Deferred tax assets are recognised at the expected value of their utilisation; either as a set-off against tax on future income or as a set-off against deferred tax liabilities in the same legal tax entity. Changes in deferred tax due to changes in the tax rate are recognised in the income statement. Financial liabilities are recognised at the date of borrowing at the net proceeds received less transaction costs paid. On subsequent recognition, financial liabilities are measured at amortised cost, corresponding to the capitalised value, using the effective interest rate. Accordingly, the difference between the proceeds and the nominal value is recognised in the income statement over the term of the loan. Other liabilities are measured at net realisable value. The company has entered into operating leases for the following amounts : 37 TDKK (2021: 148 TDKK) The company has entered into a rent agreement regarding the company's domicile in Copenhagen at the following amounts : 979 TDKK (2021: 895 TDKK) As security for bank debt, the Company has issued a letter of indemnity, totalling 3.000 DKK (2021: 3.000 TDKK) secured on items of other fixtures and fittings, tools and equipment The carrying amount of the pledged assets totals 6.500 TDKK (2021: 6.500 TDKK). Parties exercising control Related party Domicile Basis for control Teleperformance SE Paris, France Ultimate parent company Information about consolidated financial statements Parent Domicile Requisitioning of the parent company's consolidated financial statements Teleperformance Nordic AB Solna, Sweden Box 3016, 16903 Solna, Sweden 15112905 2022-01-01 2022-12-31 15112905 2021-01-01 2021-12-31 15112905 2021-12-31 15112905 2022-12-31 15112905 2022-01-01 2022-12-31 1 15112905 2022-01-01 2022-12-31 2 15112905 2022-01-01 2022-12-31 3 15112905 2022-01-01 2022-12-31 1 15112905 2022-01-01 2022-12-31 1 15112905 2022-01-01 e:AcquiredIntangibleAssetsMember 15112905 2022-01-01 2022-12-31 e:AcquiredIntangibleAssetsMember 15112905 2022-12-31 e:AcquiredIntangibleAssetsMember 15112905 2022-01-01 2022-12-31 e:RetainedEarningsMember 15112905 2021-01-01 2021-12-31 e:RetainedEarningsMember 15112905 2022-12-31 e:ReceivablesFromOwnersAndManagementMember 15112905 2022-01-01 e:FixturesFittingsToolsAndEquipmentMember 15112905 2022-01-01 2022-12-31 e:FixturesFittingsToolsAndEquipmentMember 15112905 2022-12-31 e:FixturesFittingsToolsAndEquipmentMember 15112905 2021-01-01 e:ContributedCapitalMember 15112905 2022-01-01 e:ContributedCapitalMember 15112905 2022-12-31 e:ContributedCapitalMember 15112905 2022-01-01 e:RetainedEarningsMember 15112905 2022-01-01 2022-12-31 e:RetainedEarningsMember 15112905 2022-12-31 e:RetainedEarningsMember 15112905 2021-01-01 e:RetainedEarningsMember 15112905 2021-01-01 2021-12-31 e:RetainedEarningsMember 15112905 2022-01-01 e:DepositsLongtermInvestmentsAndReceivablesMember 15112905 2022-12-31 e:DepositsLongtermInvestmentsAndReceivablesMember iso4217:DKK xbrli:pure