37048119 2021-01-01 2021-12-31 37048119 2021-01-01 2021-12-31 0 37048119 2021-01-01 2021-12-31 0 37048119 2021-01-01 2021-12-31 1 37048119 2021-01-01 2021-12-31 2 37048119 2021-01-01 2021-12-31 3 37048119 2021-01-01 2021-12-31 4 37048119 2021-01-01 2021-12-31 0 37048119 2021-01-01 2021-12-31 cmn:PreviousYearMember 1 37048119 2021-01-01 2021-12-31 cmn:TwoYearsAgoMember 2 37048119 2021-01-01 2021-12-31 cmn:ThreeYearsAgoMember 3 37048119 2021-01-01 2021-12-31 cmn:FourYearsAgoMember 4 37048119 2021-01-01 2021-12-31 cmn:PreviousYearMember 37048119 2021-01-01 2021-12-31 cmn:TwoYearsAgoMember 37048119 2021-01-01 2021-12-31 cmn:ThreeYearsAgoMember 37048119 2021-01-01 2021-12-31 cmn:FourYearsAgoMember 37048119 2021-12-31 37048119 2021-12-31 cmn:PreviousYearMember 37048119 2021-12-31 cmn:TwoYearsAgoMember 37048119 2021-12-31 cmn:ThreeYearsAgoMember 37048119 2021-12-31 cmn:FourYearsAgoMember 37048119 2020-01-01 2020-12-31 37048119 2021-01-01 2021-12-31 fsa:RetainedEarningsMember 37048119 2020-01-01 2020-12-31 fsa:RetainedEarningsMember 37048119 2020-12-31 37048119 2021-01-01 2021-12-31 0 37048119 2021-01-01 2021-12-31 1 iso4217:DKK xbrli:pure Regnskabsklasse C, stor virksomhed 2021-01-01 2021-12-31 Rederiet A.P. Møller A/S Esplanaden 50 DK-1263 Copenhagen K Denmark +45 33 63 33 63 37048119 1970-06-22 Copenhagen, Denmark 2022-06-30 Jacob Ramsgaard Nielsen <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 the Board of Directors and Management</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 management have today discussed and approved the annual report of Rederiet A.P. Møller A/S for the financial year 1 January – 31 December 2021.</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">In our opinion, the financial statements give a true and fair view of the company’s financial position at 31 December 2021 and the result of the Company’s activities for the financial year 1 January – 31 December 2021.</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> Copenhagen 2022-06-30 <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 Auditor’s Report</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 Shareholders of Rederiet A.P. Møller 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">Opinion</td></tr><tr><td colspan="1">In 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 for the financial year 1 January - 31 December 2021 in accordance with the Danish Financial Statements Act.</td></tr><tr><td colspan="1">We have audited the Financial Statements of Rederiet A.P. Møller 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”).</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">Basis for Opinion</td></tr><tr><td colspan="1">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 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. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.</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 Management’s Review</td></tr><tr><td colspan="1">Management is responsible for Management’s Review.</td></tr><tr><td colspan="1">Our opinion on the financial statements does not cover Management’s Review, and we do not express any form of assurance conclusion thereon.</td></tr><tr><td colspan="1">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 materially misstated.</td></tr><tr><td colspan="1">Moreover, it is our responsibility to consider whether Management’s Review provides the information required under the Danish Financial Statements Act.</td></tr><tr><td colspan="1">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 Financial Statements Act. We did not identify any material misstatement in 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">Management’s Responsibilities 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 as 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><tr><td colspan="1">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.</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">Auditor’s Responsibilities for the Audit of the Financial Statements</td></tr><tr><td colspan="1">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.</td></tr><tr><td colspan="1">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</td></tr><tr><td colspan="1">●         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.</td></tr><tr><td colspan="1">●         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.</td></tr><tr><td colspan="1">●         Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management.</td></tr><tr><td colspan="1">●         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.</td></tr><tr><td colspan="1">●         Evaluate the overall presentation, structure and contents of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that gives a true and fair view.</td></tr><tr><td colspan="1">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.</td></tr></table> Hellerup 2022-06-30 -118000 1407000 916000 <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><tr><td colspan="1">Main activities</td></tr><tr><td colspan="1">During 2021, the Company employed in average 2,064 employees (2020: 2,723 employees). The employees have been engaged with shipping as well as general administration for A.P. Moller - Maersk companies.</td></tr><tr><td colspan="1">Development during the financial year</td></tr><tr><td colspan="1">The result for 2021 is in line with expectations and is considered satisfactory. Financial Income increased compared to 2020, mainly because of currency fluctuation.</td></tr></table><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="1">Expectations</td></tr><tr><td colspan="1">For 2022 a minor positive result is expected.</td></tr><tr><td colspan="1">Events after balance sheet date</td></tr><tr><td colspan="1">No events of importance to the Annual Report have occurred during the period from the balance sheet date until the presentation of the financial statements.</td></tr></table> https://www.maersk.com/sustainability/reports-and-resources <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">Corporate social responsibility</td></tr><tr><td colspan="1">The annual report does not contain a CSR report. Reference is made to the A. P. Møller - Mærsk's (CVR nr. 22756214) sustainability report published on the website</td></tr><tr><td colspan="1">https://www.maersk.com/sustainability/reports-and-resources</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">Diversity</td></tr><tr><td colspan="1">Gender diversity on the Board of Directors</td></tr><tr><td colspan="1">When assessing the composition of the Board, the Nomination Committee also considers diversity and setting of the target for the underrepresented gender on the Board of Directors in accordance with the Danish Company’s Act § 139c. The Board consists of three members, elected in general assembly, of which two are female the target is currently met. The company keeps focus on driving diversity both on managerial levels and on the Board. As a result of the company's activities, the only management level besides the board of directors is the executive management team. Our policy of increasing the level of the underrepresented gender on other management levels therefore focuses on increasing diversity when there are changes to the executive board. As there have been no changes to the executive board this year, our activities supporting the policy have been limited.</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">Data ethics</td></tr><tr><td colspan="1">For our statement on data ethics, we refer to our parent company A. P. Møller - Mærsk's (CVR: 22756214) statement in the Annual Report.</td></tr></table> 2105344000 2104944000 518000 1413000 -6000 1289000 -373000 <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="4" align="left" valign="middle" >Statement of changes in Equity</td></tr><tr><td width="100%" colspan="4" align="left" valign="middle" >Amounts in DKK 1,000</td></tr><tr><td width="41%" colspan="1" align="left" valign="middle" >Equity</td><td width="17%" colspan="1" align="right" valign="middle" >Share capital</td><td width="24%" colspan="1" align="right" valign="middle" >Retained earnings</td><td width="18%" colspan="1" align="right" valign="middle" >Total</td></tr><tr><td width="41%" colspan="1" align="left" valign="middle" >Equity 1 January 2021</td><td width="17%" align="right" valign="middle" >10.000</td><td width="24%" align="right" valign="middle" >77.827</td><td width="18%" align="right" valign="middle" >87.827</td></tr><tr><td width="41%" colspan="1" align="left" valign="middle" >Result for the year</td><td width="17%" align="right" valign="middle" >0</td><td width="24%" align="right" valign="middle" >916</td><td width="18%" align="right" valign="middle" >916</td></tr><tr><td width="41%" colspan="1" align="left" valign="middle" >Equity 31 December 2021</td><td width="17%" align="right" valign="middle" >10.000</td><td width="24%" align="right" valign="middle" >78.743</td><td width="18%" align="right" valign="middle" >88.743</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 for Rederiet A.P. Møller A/S has been presented in accordance with the Danish Financial Statements Act regarding large reporting class C.</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">In accordance to the Danish financial statements act §86.4, no cash flow statement is 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">Fee to auditors appointed at the general meeting has not been disclosed in accordance with section 96 (3) of the Danish Financial Statements Act.</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">Recognition and measurement</td></tr><tr><td colspan="1">The financial statements are adapted to the Company’s activity and are presented in DKK thousands.</td></tr><tr><td colspan="1">Revenue is recognized in the income statement as earned including value adjustments of financial assets and liabilities. All expenses are also recognised in the income statement including depreciation and impairments.</td></tr><tr><td colspan="1">Assets are recognised in the balance sheet when it is probable that future economic benefits attributable to the assets will flow to the Company and the value of the asset can be measured reliably.</td></tr><tr><td colspan="1">Liabilities are recognised in the balance sheet when it is probable that the future economic benefits will flow out of the Company and the value of the liability can be measured reliably.</td></tr><tr><td colspan="1">Assets and liabilities are initially measured at cost. Subsequently, assets and liabilities are measured as described below for each item.</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">Foreign exchange translation</td></tr><tr><td colspan="1">Transactions in foreign currency is translated at the transaction date's exchange rate. Any foreign exchange differences from such translation, that occurs between the transaction day's exchange rate and the exchange rate on the payment date, are recognised on the income statement as a financial item.</td></tr><tr><td colspan="1">Receivables, payables and other monetary items in foreign currencies that are not settled at the balance sheet date, are translated at the exchange rate at the balance sheet date. The difference between the exchange rate on the balance sheet date and the time of recognition of receivables or payables are included 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">Administration fee</td></tr><tr><td colspan="1">Revenue comprises of administration fee and is recognized if delivery and transfer of risk took place before end of year. Revenue is recognized exclusive of VAT.</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">Salary, pension contribution etc.</td></tr><tr><td colspan="1">Salaries, pension contributions etc. comprise expenses that have incurred during the year for the employees, including the regulation regarding wage related liabilities.</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 items comprise interests and realised as well as unrealised currency rate gains and losses. Financial income and expenses are recognised at the amounts relating to the financial 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="1">Tax</td></tr><tr><td colspan="1">Tax for the year comprises the amount expected to be paid for the financial year. The Company is jointly taxed with the other Danish companies within the A.P. Møller Holding Group.</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 which usually corresponds to the nominal value. Write-down is made for anticipated losses to the 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">Equity</td></tr><tr><td colspan="1">Dividends expected to be paid during the year, are shown as a separate equity item.</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 liabilities</td></tr><tr><td colspan="1">Liabilities are measured at amortised cost which usually corresponds to the nominal 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 width="100%" colspan="3" align="left" valign="middle" ></td></tr><tr><td colspan="3"></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Appropriation</td></tr><tr><td width="33%" ></td><td width="33%" align="right" valign="middle" >2021</td><td width="34%" align="right" valign="middle" >2020</td></tr><tr><td width="33%" colspan="1" align="left" valign="middle" >Profit/loss for the year</td><td width="33%" align="right" valign="middle" >916</td><td width="34%" align="right" valign="middle" >-202</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Appropriation</td></tr><tr><td width="33%" colspan="1" align="left" valign="middle" >Retained earnings.</td><td width="33%" align="right" valign="middle" >916</td><td width="34%" align="right" valign="middle" >-202</td></tr><tr><td colspan="3"></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="3" align="left" valign="middle" >Salary, pension contribution etc.</td></tr><tr><td width="33%" ></td><td width="33%" align="right" valign="middle" >2021</td><td width="34%" align="right" valign="middle" >2020</td></tr><tr><td width="33%" colspan="1" align="left" valign="middle" >Salary costs</td><td width="33%" align="right" valign="middle" >1.897.750</td><td width="34%" align="right" valign="middle" >2.230.324</td></tr><tr><td width="33%" colspan="1" align="left" valign="middle" >Pension contribution</td><td width="33%" align="right" valign="middle" >191.896</td><td width="34%" align="right" valign="middle" >217.209</td></tr><tr><td width="33%" colspan="1" align="left" valign="middle" >ATP contribution</td><td width="33%" align="right" valign="middle" >5.385</td><td width="34%" align="right" valign="middle" >6.916</td></tr><tr><td width="33%" colspan="1" align="left" valign="middle" >Total</td><td width="33%" align="right" valign="middle" >2.104.944</td><td width="34%" align="right" valign="middle" >2.454.449</td></tr><tr><td width="33%" colspan="1" align="left" valign="middle" >Average number of employees.</td><td width="33%" align="right" valign="middle" >2.064</td><td width="34%" align="right" valign="middle" >2.723</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >There is no remuneration paid to the management.</td></tr><tr><td colspan="3"></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="3" align="left" valign="middle" >Financial income and expenses</td></tr><tr><td width="33%" ></td><td width="33%" align="right" valign="middle" >2021</td><td width="34%" align="right" valign="middle" >2020</td></tr><tr><td width="33%" colspan="1" align="left" valign="middle" >Interest expenses to related companies</td><td width="33%" align="right" valign="middle" >-6</td><td width="34%" colspan="1" align="right" valign="middle" >-</td></tr><tr><td width="33%" colspan="1" align="left" valign="middle" >Exchange rate loss on working capital</td><td width="33%" align="right" valign="middle" >1.413</td><td width="34%" align="right" valign="middle" >-8</td></tr><tr><td width="33%" colspan="1" align="left" valign="middle" >Total financial income and expenses</td><td width="33%" align="right" valign="middle" >1.407</td><td width="34%" align="right" valign="middle" >-8</td></tr><tr><td colspan="3"></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="3" align="left" valign="middle" >Income tax for the year</td></tr><tr><td width="33%" ></td><td width="33%" align="right" valign="middle" >2021</td><td width="34%" align="right" valign="middle" >2020</td></tr><tr><td width="33%" colspan="1" align="left" valign="middle" >Income tax for the year</td><td width="33%" align="right" valign="middle" >-246</td><td width="34%" align="right" valign="middle" >-59</td></tr><tr><td width="33%" colspan="1" align="left" valign="middle" >Income tax correction, prior years</td><td width="33%" align="right" valign="middle" >-57</td><td width="34%" colspan="1" align="right" valign="middle" >-</td></tr><tr><td width="33%" colspan="1" align="left" valign="middle" >Deferred tax</td><td width="33%" align="right" valign="middle" >-69</td><td width="34%" colspan="1" align="right" valign="middle" >-</td></tr><tr><td width="33%" colspan="1" align="left" valign="middle" >Total income tax for the year</td><td width="33%" align="right" valign="middle" >-373</td><td width="34%" align="right" valign="middle" >-59</td></tr><tr><td colspan="3"></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" >Receivables from affiliated companies</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Receivables are related mainly to recharges of payroll and holiday pay accruals in addition to a cash deposit held with A.P. Møller - Mærsk A/S.</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 width="100%" colspan="1" align="left" valign="middle" >Equity.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The share capital of DKK 10m is divided into 19 shares of DKK 500,000, 4 shares of DKK 100,000 and 10 shares of DKK 10,000. No shares carry any special rights.</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 width="100%" colspan="1" align="left" valign="middle" >Other payables</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Other payables primarily consist of staff related payables, such as holiday allowance.</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 width="100%" colspan="1" align="left" valign="middle" >Related parties</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Controlling interest through shareholdings: A.P. Møller - Mærsk A/S, Esplanaden 50, DK-1098 Copenhagen K. Internal trade with related companies and management consists mainly of administration of wages and remuneration and are subject to arm’s length conditions.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Rederiet A.P. Møller A/S is included in the consolidated accounts of A.P. Møller - Mærsk A/S, Esplanaden 50, DK-1098 Copenhagen K.</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 width="100%" colspan="1" align="left" valign="middle" >Contingent liabilities</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Through participation in joint taxation scheme with A.P. Møller Holding A/S, the Company is jointly and severally liable for taxes payable, etc. in Denmark.</td></tr></table> Årsrapport 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Strandvejen 44 2900 Hellerup xWizard version 1.1.1127.0, by EasyX Aps. www.easyx.eu 2020-01-01 2020-12-31 Revisionspåtegning Grundlag for konklusion Konklusion 2064 Anne Pindborg Philip Hani Als Shehadeh (chairman) Thomas Lindegaard Madsen Anne Pindborg Jacob Andersen Sterling Roberta Rocha Alves Duarte Administration fee 400000 Administration fee 400000 Administration fee 400000 Administration fee 450000 Administration fee 400000 -253000 -8000 -202000 213000 -22000 149000 88000 -84000 3000 36000 163000 155000 265901000 88743000 0 265901000 265901000 10000000 78743000 69000 69000 314000 246000 176529000 177089000 265901000 577277000 87827000 620152000 88029000 598383000 87880000 608150000 87877000 2454850000 2454450000 653000 -253000 0 -8000 -261000 59000 -202000 916000 -202000 57000 577219000 577277000 577277000 10000000 77827000 87827000 0 0 385000 0 489065000 48945000 577277000 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Strandvejen 44 DK-2900 Hellerup 33771231 Søren Ørjan Jensen State Authorised Public Accountant mne33226 Kristian Pedersen State Authorised Public Accountant mne35412 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab