25923170 2021-01-01 2021-12-31 25923170 2021-01-01 2021-12-31 0 25923170 2021-01-01 2021-12-31 1 25923170 2021-01-01 2021-12-31 0 25923170 2021-01-01 2021-12-31 1 25923170 2021-01-01 2021-12-31 2 25923170 2020-01-01 2020-12-31 25923170 2021-12-31 25923170 2020-12-31 25923170 2021-01-01 25923170 2020-01-01 25923170 2021-01-01 2021-12-31 0 25923170 2021-01-01 2021-12-31 1 iso4217:DKK xbrli:pure 2021-01-01 2021-12-31 <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">Executive Board and the Board of Directors have today discussed and approved the Annual Report of SteelSeries ApS and for the Company for 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 International Financial Reporting Standards as adopted by the EU and further requirements in 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 Company’s financial statements give a true and fair view of the Company’s assets, liabilities and financial position on 31 December 2021 and of the results of the Company’s operations and cash flows for the financial year 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 review includes a fair review of the development in the Company’s operations and financial matters, of the result for the year, and of the Company’s financial position, as well as describing the significant risks and uncertainties affecting the Company.</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 General Meeting approve the Annual Report.</td></tr></table> Copenhagen 2022-06-23 <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 shareholder of SteelSeries ApS</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">We have audited the financial statements and the company financial statements of SteelSeries ApS for the financial year 1 January – 31 December 2021, which comprise income statement, statement of comprehensive income, balance sheet, statement of changes in equity, cash flow statement and notes, including accounting policies, for the Company. The financial statements and the company financial statements are prepared in accordance with International Financial Reporting Standards as adopted by the EU and additional requirements of the Danish Financial Statements Act.</td></tr><tr><td colspan="1">In our opinion, the financial statements and the company 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 International Financial Reporting Standards as adopted by the EU and additional requirements of 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">Basis for opinion</td></tr><tr><td colspan="1">We conducted our audit in accordance with International Standards on Auditing (ISAs) and 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 and the company financial statements" (hereinafter collectively referred to as "the financial statements") section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.</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">Independence</td></tr><tr><td colspan="1">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.</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">Management is responsible for the Management's review.</td></tr><tr><td colspan="1">Our opinion on the financial statements does not cover the Management's review, and we do not express any assurance conclusion thereon.</td></tr><tr><td colspan="1">In connection with our audit of the financial statements, our responsibility is to read the Management's review and, in doing so, consider whether the Management's review is materially inconsistent with the financial statements, or our knowledge obtained during the audit, or otherwise appears to be materially misstated.</td></tr><tr><td colspan="1">Moreover, it is our responsibility to consider whether the Management's review provides the information required under the Danish Financial Statements Act.</td></tr><tr><td colspan="1">Based on our procedures, we conclude that the Management's review is in accordance with the financial statements and has been prepared in accordance with the requirements of the Danish Financial Statements Act. We did not identify any material misstatement of the 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 and company financial statements that give a true and fair view in accordance with International Financial Reporting Standards as adopted by the EU and additional requirements of 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 as to whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs and additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements.</td></tr><tr><td colspan="1">As part of an audit conducted in accordance with ISAs and additional requirements applicable in Denmark, we exercise professional judgement and maintain professional skepticism throughout the audit.</td></tr><tr><td colspan="1">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 note 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">Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the company to express an opinion on the financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.</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> Copenhagen 2022-06-23 SteelSeries ApS Havneholmen 8, 1. DK-2450 Copenhagen SV 25923170 2001-02-21 Copenhagen 2022-06-23 Lars Stoltze <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">Ownership and capital structure</td></tr><tr><td colspan="1">At 31 December 2021, the Group was ultimately owned by the private equity fund Axcel, PKA and AlpInvest. The founder Jacob Wolff-Petersen and selected members of the leadership team and board have invested via SteelSeries Holding II ApS. Axcel controls the majority of the voting rights.</td></tr><tr><td colspan="1">The Group’s loan capital consists primarily of a bank facility provided by a joint consortium of Danske Bank A/S, Nykredit Bank A/S and Nordea Danmark, an affiliated branch of Nordea Bank Abp, Finland. Subsequent, to GN’s acquisition of SteelSeries Group as per 12 January 2022 current loan capital is terminated and replaced by GN.</td></tr><tr><td colspan="1">Subsequently to the closing of the transaction between Axcel V K/S and GN Audio A/S all loans will be paid and funded by intercompany loans from the GN 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">Our sustainability strategy</td></tr><tr><td colspan="1">We truly believe that every gamer should have the chance to feel like a star. We are committed to achieving this vision, but also recognize that our activities can have both a positive and negative societal impact. Our sustainability efforts are driven by the desire to provide high quality and innovative products while minimizing</td></tr><tr><td colspan="1">our environmental footprint and being a responsible employer and corporate citizen. The SteelSeries Sustainability Policy reflects our commitment to this and our expectations of those we do business with.</td></tr><tr><td colspan="1">Our sustainability strategy is underpinned by three focus areas: reducing our climate and environmental footprint, being an attractive and responsible employer, and ensuring responsible business conduct. For each focus area we have identified a long-term strategic direction and actions that need to be conducted in the upcoming year and beyond in order to get there. We have also mapped these initiatives to the Sustainable Development Goals (SDG) we materially impact and the relevant underlying targets to ensure our initiatives are in line with these.</td></tr><tr><td colspan="1">In addition to driving our own sustainability agenda, we aim to proactively act upon the development in stakeholder requirements and our operating environment. Sustainable business is of high priority to many of our stakeholders including our largest corporate customers, with a growing focus on the environmental and societal impact of the products they purchase and sell to end users. SteelSeries is also affected by increasing climate and environmental regulation in countries where our products are manufactured and sold.</td></tr><tr><td colspan="1">In our sustainability work, we focus on the topics identified as the most relevant for SteelSeries as a company and with the largest societal impact. These priorities have been identified through a materiality assessment of the most important sustainability topics, risks and impacts to be managed by our business. The initial assessment was conducted in autumn 2020 based on internal meetings, workshops and benchmarking within the industry.</td></tr><tr><td colspan="1">In 2021, we updated the assessment to ensure that we maintain the right topics and that our activities remain compatible with stakeholders’ expectations of SteelSeries as both a company and workplace.</td></tr><tr><td colspan="1">In the following year, we will be working on setting baselines for a wider set of sustainability KPIs in order to set more targets and drive our sustainability performance for the short-, medium- and long-term.</td></tr><tr><td colspan="1">The section constitutes our statutory reporting on corporate responsibility in accordance with section 99a of the Danish Financial Statements Act.</td></tr><tr><td colspan="1">Reducing our climate and environmental footprint</td></tr><tr><td colspan="1">At SteelSeries we strive to reduce the environmental and climate impact throughout our operations and value chain. The environmental impact of our own business and operations is somewhat limited and primarily consists of the energy use and waste generated in our offices and employee travel. Although not directly managed by SteelSeries, we acknowledge that the majority of our environmental impact lies in our upstream and downstream supply chain, and we are committed to reducing this impact in partnership with relevant stakeholders. We can also influence this impact through our design decisions, for example, by reducing the size of packaging or the weight and type of materials used to manufacture our products. Building on this belief, we have reduced the packaging size for our headsets, our largest product line, by 47% since 2015. During this time, we also reduced the packaging size of our keyboards and mice by 57% and 38% respectively.</td></tr><tr><td colspan="1">The raw materials used in our products consist mainly of plastic and electronics, including certain types of minerals and precious metals. We aim to find the best ways to reduce the environmental footprint of our product designs while still delivering products that deliver the most impact to our customers and their gaming experience. In 2021 through our Aerox ultralightweight mouse, we showed that new innovations can both improve gaming performance and also reduce the impact of our products, the mouse contains 25% less plastic than a standard mouse while maintaining the highest quality expected of a SteelSeries product.</td></tr><tr><td colspan="1">Due to the nature of our products and the industry in which we operate, regulatory restrictions and strong influence from key stakeholders have a significant impact on our environmental agenda. We want to support our customers’ increasing demands for more sustainable products and we plan to do this by assessing the impacts of our best-selling products across their full lifecycle and incorporating sustainability considerations into our product development process. In addition, we will continue to adhere to strict environmental regulations in all countries where we operate. We communicate regularly with our customers and manufacturers and follow the relevant regulatory developments in all regions where we operate.</td></tr><tr><td colspan="1">In 2021 we continued to prioritize the elimination of single-use plastics in all our packaging in addition to consciously reducing the size of our packaging. We are aiming for all new packaging to be FSC certified, 100%</td></tr><tr><td colspan="1">recyclable and single use plastic-free by 2025. In the coming years, we will continue to use design as a mechanism to reduce material use, improve our climate footprint and implement more circular processes.</td></tr><tr><td colspan="1">While our direct carbon emissions are small, this year we have set a target to be carbon neutral in our scope 1 and 2 emissions by 2025 at the very latest. This will be achieved with a focus on procuring renewable energy for all our offices globally. While this commitment is important, we recognize that over 95% of our total value chain emissions are scope 3 emissions. We are therefore committed to measuring our scope 3 footprint in 2022 with a plan to set a science-based reduction target before the end of 2023. We will also use lifecycle assessment to measure our product footprints and identify opportunities to further reduce their environmental impact.</td></tr><tr><td colspan="1">Being an attractive and responsible employer</td></tr><tr><td colspan="1">SteelSeries is a responsible employer and business partner. We are passionate about our employees and want everyone to feel at home and safe in their workplace. At SteelSeries, we treat each other with respect and we support the internationally recognized labor rights as specified in the International Labor Organization (ILO) core conventions. We respect the freedom of association of our employees and comply with local labor laws in each operating country.</td></tr><tr><td colspan="1">SteelSeries had more than 380 employees in over 20 countries at the end of December 2021 and 363 on average throughout the year. We are dedicated to employee well-being, satisfaction, personal and professional development and equal rights and opportunities. As a knowledge-based company, we are dependent on skilled employees and our continued success relies on the ability to attract, develop and retain the right talent. We work purposefully to create an engaging workplace with good working conditions, equal opportunities, and development opportunities for our employees.</td></tr><tr><td colspan="1">In 2021, we continued to invest in our human resources department and formalize our human resource strategy and practices. The ongoing impacts of the COVID-19 pandemic have continued to test our resilience as a company, but it has also provided us with an opportunity to promote our values and embed ways of working that provide our employees with the required flexibility based on their personal needs. We continue to monitor the impacts of COVID-19 across all of our offices and request employees to work from home when the situation demands. In cases where employees have been impacted by COVID-19 we make sure that they are supported.</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, equity and inclusion</td></tr><tr><td colspan="1">SteelSeries finds that tolerance and respect are fundamental values necessary to achieve the best working environment. At SteelSeries, all employees are appreciated for their skills, experience and individual points of view regardless of nationality, skin color, gender, age, sexual orientation, language, religion, political views or disabilities. We are committed to creating and maintaining a workplace that welcomes the exchange of experience, attitudes, and views which we consider necessary for our development.</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">Below we have outlined our policies, targets and actions taken to increase the underrepresented gender in Management, which also constitutes our statutory reporting on §99b.</td></tr><tr><td colspan="1">In October 2021, we conducted a diversity, equity and inclusion survey for the second time to understand how employees view the diverse and inclusive culture we seek to create. Following a review of last year’s survey, we decided to expand the scope to include more questions specifically on employee engagement to provide us with more data on how we can provide the best possible employee experience. The survey was sent to all employees globally and the results were again very positive with 84% of our employees agreeing that SteelSeries is a great place to work and 88% believing the company is headed in the right direction. The survey also identified new opportunities for improvement and these have been incorporated into an action plan that will be implemented in 2022. The updated survey will be repeated in future years to allow us to measure the progress of our initiatives in this area.</td></tr><tr><td colspan="1">In 2021, our workforce consisted of 34.0% female, 65.7% male and 0.3% non-binary employees. The percentage of our managers that are women is 25%. Our workforce is generally young, but all age groups between 18 and 60 are represented. We are determined to increase the level of female representation across all levels of our</td></tr><tr><td colspan="1">business and will look to support other organizations seeking to increase the number of women working in the technology and gaming industry.</td></tr><tr><td colspan="1">In 2021, building on our DE&amp;I (Diversity, Equity and Inclusion) committee set up in the US in 2020, we created a DE&amp;I committee with a global focus. The main areas that are discussed include diversity in terms of gender, women, LGBT+ and other members of any under-represented groups. We want to continue to foster a workplace that actively values diversity and in 2022, we plan to provide all hiring and people managers with specific DE&amp;I training and also provide wider training to all employees.</td></tr><tr><td colspan="1">The company achieved its goal of electing one female member to the Board of Directors. At year end, the Board now consists of five male and one female representatives. The candidates were chosen based on their specific competencies and fit for the positions.</td></tr><tr><td colspan="1">Our leadership team consists of two females and twelve males. Diversity in Management is a key priority for us as we believe it helps create a healthy working environment. We are working to achieve a more equal gender balance at all levels in the company by ways of talent development opportunities, promotions and new recruitments, but this will be subject to further alignment with our new parent company GN Store Nord.</td></tr><tr><td colspan="1">In addition to promoting an inclusive workplace, we also contribute to our local communities and to support this we provide two company-paid days off for employees to use when volunteering in the local community. We also conduct annual donations to support philanthropic organizations that support diversity and equality in the</td></tr><tr><td colspan="1">communities where we operate. In the future, we will continue to support community initiatives that are consistent with our values and that help to remove systemic inequality within the gaming industry and beyond.</td></tr><tr><td colspan="1">SteelSeries is not a political company. However, we do take a stance for civil and human rights. We donate to charities such as Black Lives Matter and the Trevor Project alongside our employees, and we have an active employee base that supports many local causes. This year during Pride week, in conjunction with The Trevor Project, we created products in rainbow themes and “For Pride” and 100% of the proceeds from these were donated to The Trevor Project. All products were sold within days of release.</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">Ensuring responsible business conduct</td></tr><tr><td colspan="1">We require all our employees and all our business partners to respect the Universal Declaration of Human Rights. SteelSeries has zero-tolerance against any form of corrupt and fraudulent behavior or human rights violations. Our code of conduct lays the foundation for our approach to business ethics and sustainability management and sets out our position and policies on the most important issues for our business. We require all employees to read and sign our code of conduct.</td></tr><tr><td colspan="1">SteelSeries’ most material risk of violating human rights and risks associated with corrupt behavior is related to product supply chain. We recognize our responsibility to respect human rights and will always have zero-tolerance for corrupt behavior not only in relation to the Group’s own employees, but also in relation to partners, customers, suppliers, and subcontractors’ employees. In 2020, we established a more stringent supplier code of conduct which covers our expectations and requirements related to child labor, forced labor, discrimination, anti-corruption, and bribery, among other things. During 2021 we engaged with all our major component providers and contract manufacturers to make them aware of these updated standards; all of these suppliers confirmed that they are able to comply with the code. Going forward we will look to further develop our approach to supplier engagement and evaluation, performing a supplier risk assessment and further incorporating environmental and human rights considerations into our supplier due diligence and onboarding processes.</td></tr><tr><td colspan="1">In addition to our own processes, SteelSeries signs the code of conduct of certain customers such as US-based retailers and e-tailers with extensive sustainability requirements and potential audit schemes. Some of these large customers conduct sustainability audits of manufacturers that produce SteelSeries products, reviewing their social, environmental, and business ethics and processes and issuing corrective action reports.</td></tr><tr><td colspan="1">It is our goal to always act professionally, fairly and with integrity in all our business activities and relationships. We use a variety of marketing channels to promote our products across our key markets and our expectations regarding responsible business conduct also extend to SteelSeries' business partners such as social media</td></tr><tr><td colspan="1">influencers or gamers who are expected to uphold our sustainability policies. In 2021, we incorporated an influencer specific code of conduct into all new agreements to ensure the influencers we associate with act in ways that are consistent with our values.</td></tr><tr><td colspan="1">Our employees are encouraged to report any suspected violations of our code of conduct through our whistleblowing channel. In addition, we have set up an anonymous whistleblowing website (a.k.a. SteelSeries Speak-Up integrity line), which is hosted by an independent provider and available in multiple languages. We will continue to increase awareness of our code of conduct and encourage our employees to use this whistleblowing channel when necessary. In 2021, there were zero cases reported.</td></tr></table> 2577300000 1614500000 400300000 179900000 -220000000 10200000 25700000 324600000 2100000 67100000 66700000 327100000 63500000 263600000 263600000 0 0 263600000 263600000 35900000 21400000 81000000 -209400000 -8000000 9700000 20500000 34900000 53800000 26300000 339900000 11000000 -200000 -10800000 -323200000 51800000 -50000000 0 -2400000 -242100000 20000000 222700000 -100500000 0 Årsrapport 30700228 EY Godkendt Revisionspartnerselskab Cortex Park Vest 3 5230 Odense M 2020-01-01 2020-12-31 Revisionspåtegning Grundlag for konklusion Konklusion 302 Mian Ehtisham Rabbani Oluf Riddersholm Rene Svendsen-Tune Chairman Peter Gormsen Mian Ehtisham Rabbani 1988200000 1247200000 322200000 162200000 -15500000 10700000 28200000 202200000 0 1000000 42600000 160600000 31600000 129000000 129000000 0 0 129000000 129000000 38900000 -23400000 -51000000 -362000000 -332600000 1000000 15600000 35800000 188900000 10900000 58500000 66400000 0 -66400000 53100000 31100000 246800000 353700000 1000000 -61800000 100000000 36600000 89700000 0 115800000 99800000 52300000 109500000 27200000 700000 3000000 81000000 0 600000 489900000 384600000 432000000 54700000 0 10100000 36000000 70400000 987800000 1477700000 200000 348400000 348600000 22800000 17000000 24500000 581900000 279600000 22900000 1300000 6000000 1200000 211700000 1104600000 1477700000 0 0 1600000 61600000 13600000 700000 500000 68000000 280000000 800000 426800000 303600000 236000000 0 13800000 9300000 23500000 170900000 757000000 1183800000 200000 104800000 105000000 9200000 517200000 526400000 56500000 334200000 6100000 500000 5200000 0 149900000 552400000 1183800000 170900000 81200000 EY Godkendt Revisionspartnerselskab 30700228 Mikkel Sthyr State Authorised Public Accountant mne26693 Ole Becker State Authorised Public Accountant mne33732 30700228 EY Godkendt Revisionspartnerselskab