xbrli:pureiso4217:DKK269910642021-01-012021-12-31269910642021-01-012021-12-311269910642021-01-012021-12-311269910642021-01-012021-12-311269910642021-01-012021-12-312269910642021-01-012021-12-313269910642021-01-012021-12-314269910642021-01-012021-12-312269910642021-01-012021-12-31269910642020-01-012020-12-31269910642021-01-012021-12-31fsa:RetainedEarningsMember269910642021-01-012021-12-31fsa:RetainedEarningsMember269910642020-01-012020-12-31fsa:RetainedEarningsMember269910642021-12-31269910642020-12-31269910642021-01-01fsa:ContributedCapitalMember269910642021-01-01fsa:RetainedEarningsMember269910642021-01-01269910642021-12-31fsa:ContributedCapitalMember269910642021-12-31fsa:RetainedEarningsMember269910642021-01-012021-12-31fsa:ContributedCapitalMember269910642021-01-012021-12-31fsa:ShorttermDeferredIncomeMemberGrundlag for konklusionKonklusionRegnskabsklasse C, mellemstor virksomhed2020-01-012020-12-31HerlevHerlev2730Revisionspåtegning2021-12-312021-01-01<br /><br />5LyskærAzelis Denmark A/S26991064339635562300 København SWeidekampsgade 6Deloitte Statsautoriseret RevisionspartnerselskabÅrsrapportPricewaterhouseCoopers
Statsautoriseret Revisionspartnerselskab
Strandvejen 44
33771231The Board of Directors and the Executive Board have today considered and approved the annual report of Azelis Denmark A/S for the financial year 01.01.2021 - 31.12.2021.The annual report is presented in accordance with the Danish Financial Statements Act.In our opinion, the financial statements give a true and fair view of the Entity’s financial position at 31.12.2021 and of the results of its operations for the financial year 01.01.2021 - 31.12.2021.We believe that the management commentary contains a fair review of the affairs and conditions referred to therein.We recommend the annual report for adoption at the Annual General Meeting.Herlev2022-03-29Gert Allan Schnooradm.dir.Anna BertonaGert Allan SchnoorThijs William BakkerPer Løwe JacobsenchairmanTo the shareholders of Azelis Denmark A/SIn our opinion, the Financial Statements give a true and fair view of the financial position of the Company at 31 December 2021, and of the results of the Company’s operations and cash flows for the financial year 1 January - 31 December 2021 in accordance with the Danish Financial Statements Act.
We have audited the Financial Statements of Azelis Denmark A/S for the financial year 1 January - 31 December 2021, which comprise income statement, balance sheet, statement of changes in equity and notes, including a summary of significant accounting policies (“financial statements”).We conducted our audit in accordance with International Standards on Auditing (ISAs) and the addi-tional requirements applicable in Denmark. Our responsibilities under those standards and re-quirements are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Company in accordance with the Inter-national Ethics Standards Board for Accountants’ International Code of Ethics for Professional Ac-countants (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. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Statement on Management’s Review
Management is responsible for Management’s Review.
Our opinion on the financial statements does not cover Management’s Review, and we do not ex-press any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read Management’s Review and, in doing so, consider whether Management’s Review is materially inconsistent with the financial statements or our knowledge obtained during the audit, or otherwise appears to be materi-ally misstated.
Moreover, it is our responsibility to consider whether Management’s Review provides the infor-mation required under the Danish Financial Statements Act.
Based on the work we have performed, in our view, Management’s Review is in accordance with the Financial Statements and has been prepared in accordance with the requirements of the Danish Fi-nancial Statements Act. We did not identify any material misstatement in Management’s Review.
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 Manage-ment 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 about 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 these financial statements.
As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
<br />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 de-tecting 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 over-ride of internal control.
<br />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 Entity’s internal control.
<br />Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates
and related disclosures made by Management.
<br />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 Entity’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
Entity to cease to continue as a going concern.
<br />Evaluate the overall presentation, structure and content of the financial statements, including the disclosures
in the notes, and whether the financial statements represent the underlying transactions and
events in a manner that gives a true and fair view.<br />
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.
Hellerup2022-03-29Leif Ulbæk JensenAnders Røjleskovmne23327mne28699State Authorised Public AccountantState Authorised Public AccountantFinancial highlights2021
DKK'0002020
DKK'0002019
DKK'0002018
DKK'0002017
DKK'000Key figuresRevenue409,475382,280377,141399,689410,371Gross profit/loss61,54655,37270,40049,69551,708Operating profit/loss13,18710,40713,408(5,443)(4,696)Net financials(2,527)(7,408)(6,751)(2,249)(2,732)Profit/loss for the year5,8312,5366,657(4,796)(6,337)Total assets141,838125,898144,792138,335271,744Investments in property,
plant and equipment3,17210,28421,99318447Equity39,18633,27030,93424,40129,525Average number of employees5557626063RatiosGross margin (%)15.0314.4818.6712.4312.60Net margin (%)1.420.661.77-1.20-1.54Return on equity (%)16.107.9024.06-17.79-115.6Equity ratio (%)29.1626.4221.3617.6410.87Revenue per employee7,4456,707
6,0836,6626,514Primary activitiesThe Groups most significant business activity is to sell Chemicals and Food Ingredients primarily within the Nordic market area.Development in activities and financesThe Company’s income statement of the financial year 1. January 2021 to 31. December 2021 shows a result of DKK 5,830,564 and the Balance Sheet at 31.December 2021 a balance sheet total of DKK 134,375,163 and an Equity of DKK 39,186,316.
The Company has evolved our product portfolio during 2021, which will strengthen specially the Food segment in the future. The company has not experienced any significant changes due to the impact of COVID-19 on the performance or the financial position and has not for 2021 applied for any Covid-19 compensation schemes.
The result for the year has improved in most business segments.
Profit/loss for the year in relation to expected developmentsThe Company’s ordinary results are deemed satisfactory and in line with expectations for 2021OutlookThe Company’s outlook for the future will most likely be limited affected by the COVID-19 outbreak and the measures taken by governments in Denmark to mitigate the impacts of the outbreak.
For 2022 the company expects a in revenue in the range of DKK 421,200,000 to DKK 429,000,000 and improved results in the range of DKK 6.250.000 to DKK 6.375.000.
Environmental performanceWe continuously contribute to sustainable solutions by taking care of and protecting the environment through both customers and suppliers. We strive to improve our processes in a sustainable manner through our way of working and producing our products in our factory. We work to improve the proportion of environmentally correct materials that emit as little CO2 as possible during procurement and by following a sustainable waste management process.Events after the balance sheet dateNo events have occurred after the balance sheet date to this date, which would influence the evaluation of this annual report.40947529638228005410954450959683603087432303344384288489175336303593108383361546103561976424113562138765996722311470251151318736810406531-1603187-5425326411134087921187285542348490541191100932648831486387905715525349493226591-975583056425359245830564583056425359241394208613781014792614111096597218682272487761116306770162934151521118916012112869105326014169833440631746567326931937520008495560075200084955600611348026252640409884853323836565566485332383656655411637880120126091158243052075644657000761213121723061400115189425035106731943866265834862262312214258070333563371465141838137125897869300000030000003618631630270070391863163327007030000003027007033270070300000036186316035405320354053270218002520985558087667934729481264501054626588745056720271460013964609148126963427761700821026518218908726710265182192627799141838137125897869085682856821 Going concernCapital resources and going concern
The Financial Statements have been presented on a going concern basis. In order to ensure this assumption, the Company has received a Letter of Comfort from Azelis Group NV concerning infusion of the
necessary liquidity and capital up to 12 months from the approval of the Financial Statements.
On this basis, Management has presented the Financial Statements on a going concern basis2 Events after the balance sheet dateNo events have occurred after the balance sheet date to this date, which would influence the evaluation of this
annual report.3 RevenueThe company has no significant markets, besides
the Nordic markets. In consideration of the Company segments, the Company considers distribution of different
chemicals of DKK 89.6 million (2020: DKK 84.1 million) and life sciences of DKK 319.9 million (2020: 298.1 million)
as two separate segments.4 Staff costs2021
DKK2020
DKKWages and salaries37,108,12635,223,823Pension costs3,298,7453,032,582Other social security costs728,750509,59141,135,62138,765,996Average number of full-time employees5557No remuneration is paid to the Board of Directors. The Executive Board only consist of one person and therefore remuneration is not disclosed. 55575 Depreciation, amortisation and impairment losses2021
DKK2020
DKKAmortisation of intangible assets4,219,9074,236,094Depreciation of property, plant and equipment3,003,2072,789,0217,223,1147,025,1156 Tax on profit/loss for the year2021
DKK2020
DKKCurrent tax271,4600Change in deferred tax2,955,131(975)3,226,591(975)Reference is made to note-disclosure 10. 7 Proposed distribution of profit and loss2021
DKK2020
DKKRetained earnings 5,830,5642,535,924 5,830,5642,535,9248 Intangible assetsAcquired intangible assets
DKKGoodwill
DKKCost beginning of year24,002,018251,392,788Additions1,210,5230Cost end of year25,212,541251,392,788Amortisation and impairment losses beginning of year(10,221,004)(240,296,191)Amortisation for the year(1,049,451)(3,170,456)Amortisation and impairment losses end of year(11,270,455)(243,466,647)Carrying amount end of year13,942,0867,926,1419 Property, plant and equipmentLand and buildings
DKKPlant and machinery
DKKOther fixtures and fittings, tools and equipment
DKKProperty, plant and equipment in progress
DKKCost beginning of year17,660,93328,973,6193,230,945334,406Additions977,2051,204,66579,018911,070Disposals(17,845)0(210,000)(1,103,778)Cost end of year18,620,29330,178,2843,099,963141,698Depreciation and impairment losses beginning of year(1,367,518)(12,961,507)(3,177,685)0Depreciation for the year(952,251)(2,005,588)(45,368)0Reversal regarding disposals6,2460210,0000Depreciation and impairment losses end of year(2,313,523)(14,967,095)(3,013,053)0Carrying amount end of year16,306,77015,211,18986,910141,698Recognised assets not owned by entityIndtast beløb74,772Indtast beløbIndtast beløb10 Financial assetsInvestments in group enterprises
DKKCost beginning of year11,037,424Additions3,673,485Cost end of year14,710,909Impairment losses beginning of year(6,081,824)Exchange rate adjustments85,682Share of profit/loss for the year(1,603,187)Reversal of impairment losses408,428Impairment losses end of year(7,190,901)Carrying amount end of year7,520,008Investments in subsidiariesRegistered inEquity
interest
%Azelis Norway ASNorway100Azelis Sweden ABSweden100Azelis Finland OyFinland100<br />Investments in group enterprises
DKKCost beginning of year11,037,424Additions3,673,485Cost end of year14,710,909Impairment losses beginning of year(6,081,824)Exchange rate adjustments85,682Share of profit/loss for the year(1,603,187)Reversal of impairment losses408,428Impairment losses end of year(7,190,901)Carrying amount end of year7,520,00811 Deferred tax
Changes during the year2021
DKKBeginning of year7,612,131Recognised in the income statement(2,955,131)End of year4,657,000The total tax asset amounts to DKK 8,592,000 (DKK 10,679,000 in 2020) whereof DKK 4,657,000 has been recognised in the balance sheet.
The tax asset is included in the balance sheet based on the managements expectations to the result of the future operations of the company, and therefore naturally is subject to uncertainty, including the result of the pending tax audit, refer to comments in note 14. It is the managements assessment that the tax assets within a 5 year period, can be used in future positive taxable income.12 PrepaymentsPrepayments consist of prepaid expenses concerning rent and lease agreements for offices and cars as well as prepaid insurance premiums.13 Deferred incomeDeferred income consist of income received for recognition in subsequent financial years.14 Unrecognised rental and lease commitments2021
DKK2020
DKKLiabilities under rental or lease agreements until maturity in total23,352,95911,642,313Unrecognised rental and lease commitments consists of rent commitments of DKK 20,936,874 (DKK
8,460,846 in 2020) and operational leasing of DKK 2.416.085 (DKK 3,181,467 in 2020).
15 Contingent liabilitiesAt the balance sheet date, the Company is part of an ongoing tax case regarding the income years
2013-2016. The Tax Authorities has brought forward a claim for an increase of the taxable income of total DKK 9.4 mio. Management does not agree with the Tax Authorities' claim and assessment.
No further contingent liabilities exist at the balance sheet date.
16 Related parties with controlling interestAzelis S.A., 19 Rue Gabriel Lippmann, L-6365 Munsbach Luxenbourg, is the 100 % owner of Azelis Denmark A/S. All transactions with related parties have been conducted on market terms. 17 Non-arm’s length related party transactionsOnly related party transactions not conducted on an arm’s length basis are disclosed in the annual report. No such transactions have been conducted in the financial year.18 Group relationsName and registered office of the Parent preparing consolidated financial statements for the smallest and biggest group: Akita Midco S.A.R.L., 19 Rue Gabriel Lippmann, L-6365 Munsbach Luxenbourg.This annual report has been prepared in accordance with the provisions of the Danish Financial Statements Act governing reporting class C enterprises (medium).The accounting policies applied to these financial statements are consistent with those applied last year.falseConsolidated financial statementsReferring to section 112(1) / 112(2) of the Danish Financial Statements Act, no consolidated financial statements have been prepared.Recognition and measurementAssets are recognised in the balance sheet when it is probable as a result of a prior event that future economic
benefits will flow to the Entity, and the value of the asset can be measured reliably.
Liabilities are recognised in the balance sheet when the Entity has a legal or constructive obligation as a
result of a prior event, and it is probable that future economic benefits will flow out of the Entity, and the
value of the liability can be measured reliably.
On initial recognition, assets and liabilities are measured at cost. Measurement subsequent to initial
recognition is effected as described below for each financial statement item.
Anticipated risks and losses that arise before the time of presentation of the annual report and that confirm
or invalidate affairs and conditions existing at the balance sheet date are considered at recognition and
measurement.
Income is recognised in the income statement when earned, whereas costs are recognised by the amounts
attributable to this financial year.Foreign currency translationOn initial recognition, foreign currency transactions are translated applying the exchange rate at the
transaction date. Receivables, payables and other monetary items denominated in foreign currencies that
have not been settled at the balance sheet date are translated using the exchange rate at the balance
sheet date. Exchange differences that arise between the rate at the transaction date and the rate in effect
at the payment date, or the rate at the balance sheet date, are recognised in the income statement as
financial income or financial expenses. Property, plant and equipment, intangible assets, inventories and
other non-monetary assets that have been purchased in foreign currencies are translated using historical
rates.
When recognising foreign subsidiaries and associates that are independent entities, the income statements
are translated at average exchange rates for the months that do not significantly deviate from the rates at
the transaction date. Balance sheet items are translated using the exchange rates at the balance sheet date. Goodwill is considered belonging to the independent foreign entity and is translated using the exchange
rate at the balance sheet date. Exchange differences arising out of the translation of foreign subsidiaries’
equity at the beginning of the year at the balance sheet date exchange rates and out of the translation of income statements from average rates to the exchange rates at the balance sheet date are classified
directly as equity.
Exchange adjustments of outstanding accounts with independent foreign subsidiaries, which are considered
part of the total investment in the subsidiary in question, are classified directly as equity.When recognising foreign subsidiaries that are integral entities, monetary assets and liabilities are
translated using the exchange rates at the balance sheet date. Non-monetary assets and liabilities are
translated at the exchange rate at the time of acquisition or the time of any subsequent revaluation or writedown.
The items of the income statement are translated at the average rates of the months; however, items
deriving from non-monetary assets and liabilities are translated using the historical rates applicable to the
relevant non-monetary items.RevenueIncome from the sale of goods is recognised in the Income Statement from the date of delivery and when the risk has passed to the buyer if it is possible to calculate the income reliably. Revenue is measured at the consideration received and is recognised exclusive of VAT and net of discounts relating to sales.Changes in inventories of finished goods and work in progressChanges in inventories of finished goods and work in progress comprise decreases or increases for the financial year in inventories of finished goods and work in progress. This item includes ordinary writedowns of such inventories. Changes in inventories of raw materials are included in costs of raw materials and consumables.Other operating incomeOther operating income comprises income of a secondary nature as viewed in relation to the Entity's primary activities.Cost of goods soldCost of sales comprises goods consumed in the financial year measured at cost, adjusted for ordinary
inventory writedowns.Other external expensesOther external expenses include expenses relating to the Entity's ordinary activities, including expenses for premises, stationery and office supplies, marketing costs, etc. This item also includes writedowns of receivables recognised in current assets.Staff costsStaff costs comprise salaries and wages as well as social security contributions, pension contributions, etc for entity staff.Depreciation, amortisation and impairment lossesDepreciation, amortisation and impairment losses relating to property, plant and equipment and intangible assets comprise depreciation, amortisation and impairment losses for the financial year, as well as gains and losses from the sale of intangible assets as well as property, plant and equipment.Income from investments in group enterprisesIncome from equity investments comprises the proportionate share of profit/loss after tax and any adjustment of internal profit/loss and less amortisation of consolidated goodwill.Other financial income from group enterprisesOther financial income from group enterprises comprises interest income etc on receivables from group enterprises.<br />Other financial incomeOther financial income comprises dividends etc received on other investments, interest income, including interest income on receivables from group enterprises, net capital or exchange gains on securities, payables and transactions in foreign currencies, amortisation of financial assets as well as tax relief under the Danish Tax Prepayment Scheme etc.Financial expenses from group enterprisesFinancial expenses from group enterprises comprise interest expenses etc from payables to group enterprises.<br />Other financial expensesOther financial expenses comprise interest expenses, including interest expenses on payables to group enterprises, net capital or exchange losses on securities, payables and transactions in foreign currencies, amortisation of financial liabilities as well as tax surcharge under the Danish Tax Prepayment Scheme etc.Tax on profit/loss for the yearTax for the year, which consists of current tax for the year and changes in deferred tax, is recognised in the income statement by the portion attributable to the profit for the year and recognised directly in equity by the portion attributable to entries directly in equity.GoodwillGoodwill is measured at cost less accumulated amortisation and impairment losses.
Estimated useful lives and residual values are reassessed annually.<br />Intellectual property rights etcIntangible assets, including licences and acquired rights etc., are measured at cost less accumulated amortisation and impairment losses.
The basis of depreciation is cost less estimated residual value after the end of useful life. Straight line depreciation is made on the basis of the following estimated useful lives of the assets:
Consessions, patents, licens, trademarks and other similar rights 7-10 years
Goodwill 7 years Supplier list 20 yearsProperty, plant and equipmentLand and buildings, plant and machinery as well as other fixtures and fittings, tools and equipment are measured at cost less accumulated depreciation and impairment losses. Land is not depreciated.
Cost comprises the acquisition price, costs directly attributable to the acquisition and preparation costs of the asset until the time when it is ready to be put into operation.
The basis of depreciation is cost less estimated residual value after the end of useful life. Straight line depreciation is made on the basis of the following estimated useful lives of the assets
Buildings20-50 yearsPlant and machinery5-10 yearsOther fixtures and fittings, tools and equipment3-10 yearsLeasehold improvements5 yearsFor leasehold improvements and assets subject to finance leases, the depreciation period cannot exceed
the contract period.
Estimated useful lives and residual values are reassessed annually.
Items of property, plant and equipment are written down to the lower of recoverable amount and carrying
amount.Investments in group enterprisesInvestments in group enterprises are recognised and measured according to the equity method. This means that investments are measured at the pro rata share of the enterprises' equity value plus unamortised goodwill and plus or minus unrealised intra-group profits or losses.
Upon distribution of profit or loss, net revaluation of investments in group enterprises is transferred to Reserve for net revaluation according to the equity method under equity.
Goodwill is the positive difference between cost and fair value of assets and liabilities arising from acquisitions. Goodwill is amortised straight-line over its estimated useful life, which is fixed based on the experience gained by Management for each business area.
Investments in group enterprises are written down to the lower of recoverable amount and carrying amount. Estimated useful lives and residual values are reassessed annually.
InventoriesInventories are measured at the lower of cost using the FIFO method and net realisable value.
Cost consists of purchase price plus delivery costs. Cost of manufactured goods and work in progress consists of costs of raw materials, consumables, direct labour costs and indirect production costs.
Indirect production costs comprise indirect materials and labour costs, costs of maintenance of, depreciation of and impairment losses relating to machinery, factory buildings and equipment used in the manufacturing process as well as costs of factory administration and management. Finance costs are not included in cost.
The net realisable value of inventories is calculated as the estimated selling price less completion costs and costs incurred to execute sale.
ReceivablesReceivables are measured at amortised cost, usually equalling nominal value less writedowns for bad and doubtful debts.Deferred taxDeferred tax is recognised on all temporary differences between the carrying amount and the tax-based value of assets and liabilities, for which the tax-based value is calculated based on the planned use of each asset.
Deferred tax assets, including the tax-base of tax loss carryforwards, are recognised in the balance sheet at their estimated realisable value, either as a set-off against deferred tax liabilities or as net tax assets.
PrepaymentsPrepayments comprise incurred costs relating to subsequent financial years. Prepayments are measured at cost.CashCash comprises cash in hand and bank deposits.Lease liabilitiesLease commitments relating to assets held under finance leases are recognised in the balance sheet as liabilities other than provisions, and, at the time of inception of the lease, measured at the present value of future lease payments. Subsequent to initial recognition, lease commitments are measured at amortised cost. The difference between present value and nominal amount of the lease payments is recognised in the income statement as a financial expense over the term of the leases.<br />Operating leasesLease payments on operating leases are recognised on a straight-line basis in the income statement over the term of the lease.Other financial liabilitiesOther financial liabilities are measured at amortised cost, which usually corresponds to nominal value.Tax receivable or payableCurrent tax receivable or payable is recognised in the balance sheet, stated as tax computed on this year's
taxable income, adjusted for prepaid tax.Deferred incomeDeferred income comprises income received for recognition in subsequent financial years. Deferred income is measured at cost.Cash flow statementIn accordance with Act S. 86, para (4) of the Danish Financial Statements Act, the Company has not prepared a cash flow statement as the cash flow statement is included in the ultimate parent company.
Financial Highlights
Financial highlights are defined and calculated in accordance with the current version of "Recommendations & Ratios" issued by the CFA Society Denmark.
2022-03-29Per Løwe Jacobsen