30511336 2015-01-01 2015-12-31 30511336 2015-01-01 2015-12-31 0 30511336 2015-01-01 2015-12-31 0 30511336 2015-01-01 2015-12-31 1 30511336 2015-01-01 2015-12-31 2 30511336 2015-01-01 2015-12-31 3 30511336 2015-01-01 2015-12-31 4 30511336 2015-01-01 2015-12-31 5 30511336 2015-01-01 2015-12-31 0 30511336 2015-01-01 2015-12-31 1 30511336 2015-01-01 2015-12-31 cmn:PreviousYearMember 30511336 2015-01-01 2015-12-31 cmn:TwoYearsAgoMember 30511336 2015-01-01 2015-12-31 cmn:ThreeYearsAgoMember 30511336 2015-01-01 2015-12-31 cmn:FourYearsAgoMember 30511336 2015-12-31 30511336 2015-12-31 cmn:PreviousYearMember 30511336 2015-12-31 cmn:TwoYearsAgoMember 30511336 2015-12-31 cmn:ThreeYearsAgoMember 30511336 2015-12-31 cmn:FourYearsAgoMember 30511336 2014-01-01 2014-12-31 30511336 2015-01-01 2015-12-31 fsa:ProposedDividendRecognisedInEquityMember 30511336 2014-01-01 2014-12-31 fsa:ProposedDividendRecognisedInEquityMember 30511336 2015-01-01 2015-12-31 fsa:RetainedEarningsMember 30511336 2014-01-01 2014-12-31 fsa:RetainedEarningsMember 30511336 2014-12-31 30511336 2015-01-01 fsa:ContributedCapitalMember 30511336 2015-01-01 fsa:RetainedEarningsMember 30511336 2015-01-01 30511336 2015-01-01 2015-12-31 fsa:ContributedCapitalMember 30511336 2015-01-01 2015-12-31 fsa:RetainedEarningsMember 30511336 2015-12-31 fsa:ContributedCapitalMember 30511336 2015-12-31 fsa:RetainedEarningsMember 30511336 2015-01-01 2015-12-31 fsa:AllTypesOfRelationsNumberOfEmployeesMember 30511336 2014-01-01 2014-12-31 fsa:AllTypesOfRelationsNumberOfEmployeesMember 30511336 2015-01-01 fsa:LandAndBuildingsMember 30511336 2015-01-01 fsa:FixturesFittingsToolsAndEquipmentMember 30511336 2015-01-01 fsa:PropertyPlantAndEquipmentInProgressMember 30511336 2015-01-01 2015-12-31 fsa:LandAndBuildingsMember 30511336 2015-01-01 2015-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 30511336 2015-01-01 2015-12-31 fsa:PropertyPlantAndEquipmentInProgressMember 30511336 2015-12-31 fsa:LandAndBuildingsMember 30511336 2015-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 30511336 2015-12-31 fsa:PropertyPlantAndEquipmentInProgressMember iso4217:DKK xbrli:pure 2015-01-01 2015-12-31 F. Salling A/S Rosbjergvej 33 – 35 8220 Brabrand 30511336 2007-01-01 2016-03-30 Jakob Røddik Thøgersen <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Management's review</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Primary business area</td></tr><tr><td colspan="1">The company's activities primarily consist of retailing in 2 department stores.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Development during the financial year</td></tr><tr><td colspan="1">In 2015 the company has realised a result for the year after tax of DKK 54 million against a result after tax of DKK 8 million in 2014.</td></tr><tr><td colspan="1">In 2015 net revenue is DKK 943 million compared to DKK 911 million in 2014. Gross profit has increased compared to 2014. Result before financial items (EBIT) is DKK 65 million against DKK 6 million in 2014.</td></tr><tr><td colspan="1">The result for 2015 is better than expected due to a higher revenue level and tight cost control.</td></tr><tr><td colspan="1">During 2015 the share capital in the company was transferred from the previous owners, F. Salling Holding A/S and A.P. Møller - Mærsk A/S, to Dansk Supermarked A/S as part of an exchange of shares, in which F. Salling Holding A/S received a larger shareholding in Dansk Supermarked A/S in return for its shares in F. Salling A/S.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Employees</td></tr><tr><td colspan="1">In 2015 F. Salling A/S employed 1,206 employees against 1,198 in 2014. Converted into the average number of full time employees this equals 684 against 692 in 2014.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Social responsibility</td></tr><tr><td colspan="1">F. Salling A/S considers social responsibility to be important for the company. F. Salling A/S is included in Dansk Supermarked Group’s report on social responsibility to which we refer.</td></tr><tr><td colspan="1">Diversity in management</td></tr><tr><td colspan="1">In F. Salling A/S the target regarding the gender constitution of the Board of Directors is an equal number of both gender elected by the general meeting. Today, there are 6 members of the Board of Directors two of which are women elected by the general meeting, two are men elected by the general meeting, and two are women elected by employees. On the other management levels no gender is under-represented either. The target regarding the under-represented gender must not compromise other recruitment criteria.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Particular risks</td></tr><tr><td colspan="1">The retailing activities include sale of consumers' goods and is to a degree market sensitive. The company is not significantly dependent on certain customers or suppliers. The company’s financial risk is primarily related to interest rate risk. The interest rate risk concerns the company's mortgage loans.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Expected development</td></tr><tr><td colspan="1">The company expects that the result for the year 2016 will be at the same level as in 2015.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Subsequent events</td></tr><tr><td colspan="1">No subsequent events have occurred that would affect the annual report for 2015.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Management's statement</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">The Board of Directors and the Executive Board have today discussed and approved the annual report of F. Salling A/S for the financial year 1 January – 31 December 2015.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">The annual report has been prepared in accordance with the Danish Financial Statements Act.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">It is our opinion that the financial statements give a true and fair view of the company's assets, liabilities and financial position at 31 December 2015 and of the results of the company's operations for the financial year 1 January – 31 December 2015.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Further, in our opinion, the Management's review gives a fair review of the development in the company's operations and financial matters and the results of the company's operations and financial position.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">We recommend that the annual report be approved at the annual general meeting.</td></tr></table> Brabrand 2016-03-18 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Independent auditors' reports</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">To the shareholder of F. Salling A/S</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Independent auditors' report on the financial statements</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">We have audited the financial statements of F. Salling A/S for the financial year 1 January – 31 December 2015, which comprise 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.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Management's responsibility for the financial statements</td></tr><tr><td colspan="1">Management is responsible for the preparation of financial statements that give a true and fair view in accordance with the Danish Financial Statements Act and for such internal control that Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Auditors' responsibility</td></tr><tr><td colspan="1">Our responsibility is to express an opinion on the 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 as to whether the financial statements are free from material misstatement.</td></tr><tr><td colspan="1">An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors' judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditors consider internal control relevant to the company's preparation of 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 company's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by Management, as well as evaluating the overall presentation of the financial statements.</td></tr><tr><td colspan="1">We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.</td></tr><tr><td colspan="1">Our audit has not resulted in any qualification.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Opinion</td></tr><tr><td colspan="1">In our opinion, the financial statements give a true and fair view of the company's financial position at 31 December 2015 and of the results of its operations for the financial year 1 January – 31 December 2015 in accordance with the Danish Financial Statements Act.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Statement on the Management's review</td></tr><tr><td colspan="1">Pursuant to the Danish Financial Statements Act, we have read the Management's review. We have not performed any other procedures in addition to the audit of the financial statements. On this basis, it is our opinion that the information provided in the Management's review is consistent with the financial statements.</td></tr></table> Aarhus 2016-03-18 Regnskabsklasse C, stor virksomhed <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Accounting policies</td></tr><tr><td colspan="1">The annual report for F. Salling A/S for 2015 has been prepared in accordance with the provisions of the Danish Financial Statements Act applying to large enterprises of reporting class C.</td></tr></table> true <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Foreign currencies</td></tr><tr><td colspan="1">Transactions in foreign currencies are translated into DKK at the exchange rates prevailing at the date of the transaction. Monetary items in foreign currencies, which are not settled at the balance sheet date, are translated into DKK at the exchanges rate at the balance sheet date.</td></tr><tr><td colspan="1">Foreign exchange differences arising between the exchange rates at the transaction date and the exchange rates at the date of payment / the balance sheet date are recognised in financial items in the income statement.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Income statement</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Net revenue</td></tr><tr><td colspan="1">Net revenue from sale of goods for resale is recognised in the income statement provided that delivery and transfer of risks and rewards to the buyer have taken place. Net revenue is measured exclusive of VAT and taxes charged on behalf on third parties, and net of discounts relating to sales.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Financial items</td></tr><tr><td colspan="1">Financial income and expenses comprise interest income and expenses and capital gains and losses on securities and price adjustment of receivables.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Tax on the result for the year</td></tr><tr><td colspan="1">Tax on the result for the year comprises current tax for the year and adjustment in deferred tax.</td></tr><tr><td colspan="1">Until the 10 April 2014 the company was jointly taxed with A. P. Møller – Mærsk A/S. As of the 11 April 2014 the company became jointly taxed with the Danish companies in the Købmand Herman Sallings Fond Group. The tax effect of the joint taxation is allocated to Danish enterprises showing profits or losses in proportion to their taxable incomes (full allocation).</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Balance sheet</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="2">Property, plant and equipment</td></tr><tr><td colspan="2">Property, plant and equipment are measured at cost less accumulated depreciation and impairment losses. Cost comprises the purchase price and any costs directly attributable to the acquisition until the date, when the asset is available for use.</td></tr><tr><td colspan="2">Assets are depreciated on a straight-line basis over their estimated useful lives to residual value as follows</td></tr><tr><td>Buildings</td><td>40 years</td></tr><tr><td>Fixtures and fittings, tools and equipment</td><td>3-10 years</td></tr><tr><td colspan="2">Impairment losses in excess of depreciations are recognised when deemed necessary.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Inventories</td></tr><tr><td colspan="1">Inventories are measured at calculated cost (weighted averages) less write-down for obsoleteness.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Receivables</td></tr><tr><td colspan="1">Receivables are measured at amortised cost price less write-down for expected loss.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Equity – Dividend</td></tr><tr><td colspan="1">Proposed dividends are recognised as a liability at the date when they are adopted at the annual general meeting. The expected dividend payment for the year is presented in a separate line item within equity.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Corporation tax and deferred tax</td></tr><tr><td colspan="1">Corporation tax payable is recognised in the balance sheet as tax computed on the taxable income for the year, adjusted for tax on the taxable income of prior years and for tax paid on account.</td></tr><tr><td colspan="1">Provision for deferred tax is made on differences between the accounting and tax values of assets and liabilities. Deferred tax assets are recognised at the value at which they are expected to be realised.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Liabilities other than provisions</td></tr><tr><td colspan="1">Liabilities other than provisions are recognised as the net proceeds from the loan at the time of the raising of the loan. In the subsequent periods the debt is measured using amortisation of the cost price.</td></tr><tr><td colspan="1">Other liabilities are measured at net realisable value.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Cash flow statement</td></tr><tr><td colspan="1">The company is included in the consolidated financial statements for Dansk Supermarked A/S, Brabrand and the consolidated financial statements for Købmand Herman Sallings Fond, Brabrand, and in accordance with section 86, paragraph 4 of the Danish Financial Statements Act no cash flow statement has been prepared. As at 31 December 2014 the company was included in the consolidated financial statements for Købmand Herman Sallings Fond, Brabrand, and in accordance with section 86, paragraph 4 of the Danish Financial Statements Act no cash flow statement was prepared.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Segment information</td></tr><tr><td colspan="1">The company's main activity is retailing in Denmark. The company has no other significant activities.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Profit margin is result before financial items divided by net revenue.</td></tr><tr><td colspan="1">Return on equity is the result for the year divided by the average equity (average of equity at the beginning of the year and at the end of the year).</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="6">Financial highlights</td></tr><tr><td>DKK million</td><td>2015</td><td>2014</td><td>2013</td><td>2012</td><td>2011</td></tr></table> 943000000 65000000 6000000 54000000 12000000 0.069 0.173 64000000 571000000 138000000 298000000 209000000 24000000 19000000 13000000 71000000 17000000 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Statement of changes in equity</td></tr><tr><td colspan="1">DKK million</td></tr></table><br><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="2">The share capital is composed as follows</td></tr><tr><td>2,000,000 shares of DKK 100</td><td>200</td></tr><tr><td>Total share capital</td><td>200</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="20">Alle beløb er angivet i  'xMill'</td></tr><tr><td width="100%" colspan="8" align="left" valign="middle" >Notes to the financial statements</td></tr><tr><td width="100%" colspan="8" align="left" valign="middle" >DKK million</td></tr><tr><td colspan="8"></td></tr><tr><td width="9%" ></td><td width="9%" ></td><td width="9%" ></td><td width="9%" ></td><td width="18%" ></td><td width="9%" ></td><td width="25%" align="right" valign="middle" >2015</td><td width="12%" align="right" valign="middle" >2014</td></tr><tr><td colspan="8"></td></tr><tr><td width="100%" colspan="8" align="left" valign="middle" >Information on other external expenses</td></tr><tr><td width="100%" colspan="8" align="left" valign="middle" >Fees to the statutory auditors:</td></tr><tr><td width="63%" colspan="6" align="left" valign="middle" >Fee for auditing</td><td width="25%" align="right" valign="middle" >0,2</td><td width="12%" align="right" valign="middle" >0,2</td></tr><tr><td colspan="8"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Informaiton on staff expenses</td></tr></table> 189000000 15000000 5000000 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>The board of directors received no fees. The remuneration to the registered member of the executive board is not disclosed in accordance with section 98b(3) of the Danish Financial Statements Act. During 2014 the company changed the members of the executive board. In 2014 the total remuneration to the registered members of the executive board amounted to DKK 3.4 million.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="20">Alle beløb er angivet i  'xMill'</td></tr><tr><td colspan="8"></td></tr><tr><td width="100%" colspan="8" align="left" valign="middle" >Information on depreciation and impairment losses</td></tr><tr><td width="63%" colspan="6" align="left" valign="middle" >.Land and buildings</td><td width="25%" align="right" valign="middle" >11</td><td width="12%" align="right" valign="middle" >10</td></tr><tr><td width="63%" colspan="6" align="left" valign="middle" >.Fixtures and fittings, tools and equipment</td><td width="25%" align="right" valign="middle" >13</td><td width="12%" align="right" valign="middle" >13</td></tr><tr><td colspan="8"></td></tr><tr><td width="63%" colspan="6" align="left" valign="middle" >Total Depreciation and impairment losses</td><td width="25%" align="right" valign="middle" >24</td><td width="12%" align="right" valign="middle" >23</td></tr><tr><td colspan="8"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Information on financial income</td></tr></table> 15000000 4000000 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Information on financial expenses</td></tr></table> 12000000 1000000 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Tax on the result for the year</td></tr></table> 15000000 0 2000000 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Property, plant and equipment</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Information on receivables from affiliated companies</td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >No part of the receivables from affiliated companies falls due after more than 1 year in 2015 or 2014.</td></tr><tr><td colspan="1"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="20">Alle beløb er angivet i  'xMill'</td></tr><tr><td width="100%" colspan="8" align="left" valign="middle" >Informaiton on deferred tax</td></tr><tr><td width="63%" colspan="6" align="left" valign="middle" >Deferred tax at 1 January </td><td width="25%" align="right" valign="middle" >40</td><td width="12%" align="right" valign="middle" >37</td></tr><tr><td width="63%" colspan="6" align="left" valign="middle" >Adjustment of deferred tax for the year</td><td width="25%" align="right" valign="middle" >2</td><td width="12%" align="right" valign="middle" >2</td></tr><tr><td width="63%" colspan="6" align="left" valign="middle" >Adjustment of deferred tax regarding previous years</td><td width="25%" align="right" valign="middle" >0</td><td width="12%" align="right" valign="middle" >1</td></tr><tr><td width="63%" colspan="6" align="left" valign="middle" >Deferred tax at 31 December </td><td width="25%" align="right" valign="middle" >42</td><td width="12%" align="right" valign="middle" >40</td></tr><tr><td colspan="8"></td></tr><tr><td width="100%" colspan="8" align="left" valign="middle" >Deferred tax relates to:</td></tr><tr><td width="63%" colspan="6" align="left" valign="middle" >Property, plant and equipment</td><td width="25%" align="right" valign="middle" >42</td><td width="12%" align="right" valign="middle" >40</td></tr><tr><td width="63%" colspan="6" align="left" valign="middle" >Total deferred tax</td><td width="25%" align="right" valign="middle" >42</td><td width="12%" align="right" valign="middle" >40</td></tr><tr><td colspan="8"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Informaiton on non-current liabilities other than provisions</td></tr><tr><td /><td>Mortgage credit institutions.</td><td /><td /><td /><td /><td /><td>1245</td><td>1248</td></tr><tr><td /><td /><td /><td /><td /><td /><td /><td>1245</td><td>1248</td></tr><tr><td /><td>Short-term part of non-current liabilities.</td><td /><td /><td /><td /><td /><td>-3</td><td>-3</td></tr><tr><td /><td>Total non-current liabilities other than provisions.</td><td /><td /><td /><td /><td /><td>1242</td><td>1245</td></tr><tr><td /><td>Due as follows</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="1" align="left" valign="middle" >Information on contractual obligations and contingencies, etc.</td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The company has entered contractual agreements about leasing of property. The total income from leaseholds during the contractual lease period is DKK 26 million as of 31 December 2015 (31 December 2014: DKK 24 million).</td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The company is part of the joint registration with companies in the Dansk Supermarked Group and F. Salling Invest A/S regarding payment of VAT, PAYE taxes etc. and is thus jointly liable for the total liability of DKK 418 million at 31 December 2015 (31 December 2014: DKK 405 million).</td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The company is jointly taxed with the Danish companies in the Købmand Herman Sallings Fond Group. As a jointly taxed company, which is not wholly owned, the company has limited and subsidiary liability for Danish corporation taxes and withholding taxes on dividends, interest and royalties within the joint taxation group. However, for 2015 the company has joint and several unlimited liability for Danish corporation taxes and withholding taxes on dividends, interest and royalties within the Dansk Supermarked A/S subgroup. The total net taxes payable to the Danish Central Tax Administration by the companies included in the joint taxation is disclosed in the annual report of the administration company (F. Salling Holding A/S, CVR no. 41 94 01 15). Any subsequent corrections of the taxable income subject to joint taxation or withholding taxes on dividends etc. may entail that the company's liability will increase.</td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >As security for mortgage loans land and buildings with at carrying amount of DKK 546 million have been provided as collateral (31 December 2014: DKK 542 million).</td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The company has not entered contractual commitments regarding acquisition or construction of properties at 31 December 2015 (31 December 2014: DKK 0 million).</td></tr><tr><td colspan="1"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Information on related party disclosures</td></tr><tr><td /><td>Transactions with related parties take place at arm's length terms.</td></tr><tr><td /><td>Controlling interest</td></tr><tr><td /><td>As at 31 December 2015 the company is included in the consolidated financial statements for Dansk Supermarked A/S, Rosbjergvej 33-35, Brabrand. As at 31 December 2015 and 31 December 2014 the company is included in the consolidated financial statements for Købmand Herman Sallings Fond, Rosbjergvej 33-35, Brabrand, which has controlling interest.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Ownership</td></tr><tr><td /><td>The following shareholder owns 100 % of the share capital as at 31 December 2015</td></tr><tr><td /><td>Dansk Supermarked A/S, Rosbjergvej 33-35, Brabrand</td></tr><tr><td /><td>As at 31 December 2014 the following shareholders owned more than 5 % of the share capital</td></tr><tr><td /><td>F. Salling Holding A/S, Rosbjergvej 33-35, Brabrand</td></tr><tr><td /><td>A.P. Møller - Mærsk A/S, Esplanaden 50, København</td></tr><tr><td /><td>During 2015 the share capital in the company was transferred from the previous owners, F. Salling Holding A/S and A.P. Møller - Mærsk A/S, to Dansk Supermarked A/S as part of an exchange of shares, in which F. Salling Holding A/S received a larger shareholding in Dansk Supermarked A/S in return for its shares in F. Salling A/S.</td></tr></table> Årsrapport 30700228 Ernst & Young Englandsgade 25 5100 Odense C Revisionspåtegning Marianne Bedsted CEO Per Bank Chairman Jette Christiansen Karin Salling Marianne Larsen Employee representative Marianne Olsen Employee representative Jakob Røddik Thøgersen ERNST & YOUNG Godkendt Revisionspartnerselskab 30700228 Henrik Kronborg Iversen State Authorised Public Accountant Morten Friis State Authorised Public Accountant 911000000 6000000 4000000 8000000 12000000 0.007 0.009 900000000 76000000 118000000 151000000 60000000 0.084 0.097 927000000 1000000 110000000 83000000 154000000 0.001 0.054 874000000 95000000 55000000 112000000 18000000 0.109 0.070 1898000000 339000000 556000000 25000000 4000000 585000000 585000000 170000000 1059000000 61000000 10000000 0 1130000000 13000000 1313000000 200000000 139000000 42000000 42000000 1242000000 1242000000 3000000 77000000 99000000 96000000 0 275000000 1517000000 1898000000 12000000 1230000000 1830000000 285000000 3109000000 1588000000 2610000000 1519000000 2573000000 1548000000 911000000 61000000 571000000 156000000 245000000 216000000 23000000 6000000 16000000 12000000 10000000 2000000 8000000 196000000 15000000 5000000 11000000 5000000 11000000 1000000 0 0 2000000 0 0 54000000 8000000 563000000 34000000 0 597000000 597000000 174000000 953000000 45000000 47000000 0 1045000000 14000000 1233000000 1830000000 200000000 85000000 285000000 40000000 40000000 1245000000 1245000000 3000000 64000000 108000000 84000000 1000000 260000000 1505000000 1830000000 12000000 1233000000 200000000 85000000 285000000 0 54000000 200000000 139000000 684.000 692.000 1317000000 -754000000 75000000 -41000000 0 0 0 4000000 11000000 4000000 0 13000000 8000000 -4000000 0 1321000000 -765000000 556000000 79000000 -54000000 25000000 4000000 0 4000000