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87526518 2024-01-01 iso4217:DKK xbrli:pure xbrli:shares Pengestrøm i alt Pengestrøm i alt Pengestrøm i alt Pengestrøm i alt Pengestrøm i alt Likviditetsgrad Likviditetsgrad Likviditetsgrad Likviditetsgrad Likviditetsgrad Afkastningsgrad Afkastningsgrad Afkastningsgrad Afkastningsgrad Afkastningsgrad Årsrapport 30700228 EY Godkendt Revisionspartnerselskab  Nørre Havnegade 43 6400 Sønderborg 2025-01-01 2025-12-31 2024-01-01 2024-12-31 87526518 FUJI PACKAGING A/S Fynsgade  4 6400 Sønderborg 1978-05-23 Sønderborg 73121020 73121030 www.fuji-packaging.com EY Godkendt Revisionspartnerselskab 30700228 Nørre Havnegade  43 6400 Sønderborg Danmark +45 73 23 30 00 2026-03-23 Carsten Højer Regnskabsklasse C, mellemstor virksomhed Revisionspåtegning Grundlag for konklusion Konklusion true CaseWare Working Papers Bestyrelse og direktion har dags da­to be­hand­let og god­kendt års­rap­por­ten for FUJI PACKAGING A/S for regn­skabs­året 1. januar - 31. december 2025. Today, the Board of Directors and the Executive Board have discussed and approved the annual report of FUJI PACKAGING A/S for the financial year 1 January - 31 December 2025. Årsrapporten aflægges i over­ens­stem­mel­se med års­regn­skabs­lo­ven. The annual report is prepared in accordance with the Danish Financial Statements Act. Det er vores opfattelse, at koncernregnskabet og års­regn­ska­bet giver et retvisende billede af kon­cern­ens og sel­ska­bets ak­ti­ver, pas­si­ver og finan­siel­le stil­ling pr. 31. december 2025 samt af re­sul­ta­tet af kon­cer­nens og sel­ska­bets ak­ti­vi­te­ter samt af kon­cer­nens pen­ge­strøm­me for regn­skabs­året 1. januar - 31. december 2025. In our opinion, the consolidated financial statements and the parent company financial statements give a true and fair view of the financial position of the Group and the Company at 31 December 2025 and of the results of the Group's and the Company's operations and of the consolidated cash flows for the financial year 1 January - 31 December 2025. Det er endvidere vores opfattelse, at le­del­ses­be­ret­ningen inde­hol­der en ret­vi­sen­de rede­gø­rel­se for de forhold, beretningen omhandler. Further, in our opinion, the Management's review gives a fair review of the matters discussed in the Management's review. Årsrapporten indstilles til ge­ne­ral­for­sam­ling­ens god­ken­del­se. We recommend that the annual report be approved at the annual general meeting. Sønderborg 2026-03-23 Lars Kistenmacher Yuki Ikuta Tadashi Fukuda Carsten Højer Lars Kistenmacher Til kapitalejeren i FUJI PACKAGING A/S To the shareholder of FUJI PACKAGING A/S Vi har revi­de­ret kon­cern­regn­ska­bet og års­regn­ska­bet for FUJI PACKAGING A/S for regn­skabs­året 1. januar - 31. december 2025, der om­fat­ter re­sul­tat­op­gø­rel­se, ba­lan­ce, egen­ka­pi­tal­op­gø­rel­se og no­ter, her­un­der anvendt regn­skabs­prak­sis for så­vel kon­cer­nen som sel­ska­bet, samt pen­ge­strøms­op­gørel­se for kon­cer­nen. Kon­cern­regn­ska­bet og års­regn­ska­bet ud­ar­bej­des efter års­regn­skabs­lo­ven. We have audited the consolidated financial statements and the parent company financial statements of FUJI PACKAGING A/S for the financial year 1 January - 31 December 2025,  which comprise income statement, balance sheet, statement of changes in equity and notes, including accounting policies, for the Group and the Parent Company, and a consolidated cash flow statement. The consolidated financial statements and the parent company financial statements are prepared in accordance with the Danish Financial Statements Act.Det er vores opfat­tel­se, at kon­cern­regn­skabet og års­regn­skabet giver et ret­vi­sen­de bil­le­de af kon­cer­nens og sel­ska­bets akti­ver, pas­si­ver og finan­si­el­le stil­ling pr. 31. december 2025 samt af resul­ta­tet af kon­cer­nens og sel­ska­bets akti­vi­te­ter og kon­cer­nens pen­ge­strøm­me for regn­skabs­året 1. januar - 31. december 2025 i over­ens­stem­mel­se med års­regn­skabs­lo­ven. In our opinion, the consolidated financial statements and the parent company financial statements give a true and fair view of the financial position of the Group and the Parent Company at 31 December 2025, and of the results of the Group's and Parent Company's operations as well as the consolidated cash flows for the financial year 1 January - 31 December 2025 in accordance with the Danish Financial Statements Act. Vi har udført vores revision i overensstemmelse med inter­na­tio­na­le stan­dar­der om revi­sion og de yder­li­ge­re krav, der er gæl­den­de i Dan­mark. Vores ansvar iføl­ge dis­se stan­dar­der og krav er nær­me­re beskre­vet i revi­sions­på­teg­nin­gens afsnit "Revi­sors ansvar for revi­sio­nen af kon­cern­regn­ska­bet og års­regn­ska­bet" (herefter benævnt "regnskaberne"). Det er vores opfat­tel­se, at det opnå­ede revi­sions­be­vis er til­stræk­ke­ligt og eg­net som grund­lag for vores kon­klu­sion. 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 consolidated financial statements and the parent Company financial statements" (herinafter 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.UafhængighedIndependenceVi er uaf­hæn­gi­ge af kon­cer­nen i over­ens­stem­mel­se med Inter­national Ethics Standards Board for Accountants' inter­na­tio­nale ret­nings­lin­jer for revi­so­rers eti­ske adfærd (IESBA Code) og de yder­lig­ere eti­ske krav, der er gæl­den­de i Dan­mark, lige­som vi har opfyldt vores øvri­ge etis­ke for­plig­tel­ser i hen­hold til dis­se krav og IESBA Code.We are independent of the Group 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. Ledelsen har ansvaret for udarbejdelsen af et kon­cern­regnskab og et års­regn­skab, der giver et ret­vi­sende bil­lede i over­ens­stem­mel­se med års­regn­skabs­lo­ven. Ledelsen har endvidere ansvaret for den in­ter­ne kontrol, som ledelsen anser for nød­ven­dig for at udar­bejde regn­ska­ber­ne uden væ­sent­lig fejl­in­for­ma­tion, uanset om denne skyl­des be­svi­gel­ser eller fejl. Management is responsible for the preparation of consolidated financial statements and parent company 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.Ved udarbejdelsen af regnskaberne er ledelsen ansvarlig for at vurdere kon­cer­nens og sel­ska­bets evne til at fortsætte driften; at oplyse om forhold vedrørende fortsat drift, hvor dette er relevant; samt at udar­bejde regn­skab­erne på grund­lag af regn­skabs­prin­cip­pet om fort­sat drift, med­mindre ledel­sen enten har til hen­sigt at lik­vi­dere kon­cer­nen eller sel­ska­bet, ind­stille drif­ten eller ikke har andet rea­lis­tisk alter­na­tiv end at gøre dette. In preparing the financial statements, Management is responsible for assessing the Group's and the Parent 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 Group or the Parent Company or to cease operations, or has no realistic alternative but to do so. Vores mål er at opnå høj grad af sikkerhed for, om regn­ska­ber­ne som hel­hed er uden væsent­lig fejl­in­for­ma­tion, uan­set om denne skyl­des besvi­gel­ser eller fejl, og at afgive en revi­si­ons­påt­eg­ning med en kon­klu­sion. Høj grad af sik­ker­hed er et højt niveau af sik­ker­hed, men er ikke en ga­ranti for, at en revi­sion, der udfø­res i over­ens­stem­mel­se med inter­na­tio­nale stan­dar­der om revision og de yder­li­gere krav, der er gæl­dende i Dan­mark, altid vil afdække væsent­lig fejl­in­for­ma­tion, når sådan fin­des. Fejl­in­for­ma­tio­ner kan opstå som følge af besvi­gel­ser eller fejl og kan betrag­tes som væsent­lige, hvis det med rime­lig­hed kan for­ven­tes, at de enkelt­vis eller sam­let har ind­fly­del­se på de øko­no­mi­ske be­slut­ninger, som regn­skabs­bru­gerne træf­fer på grund­lag af regn­ska­ber­ne. Our objectives are to obtain reasonable assurance as to whether the financial statements as a whole are free from material misstatement, whether due to fraud or error and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements.Som led i en revision, der udføres i over­ens­stem­mel­se med in­ter­na­tio­na­le stan­dar­der om re­vi­sion og de yder­li­ge­re krav, der er gæl­den­de i Dan­mark, fo­re­ta­ger vi fag­li­ge vur­de­rin­ger og op­ret­hol­der pro­fes­sio­nel skep­sis under re­vi­sio­nen. Her­ud­over: As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgement and maintain professional scepticism throughout the audit. We also:Identificerer og vurderer vi risikoen for væsent­lig fejl­in­for­ma­tion i regn­ska­ber­ne, uan­set om denne skyl­des besvi­gel­ser eller fejl, udfor­mer og udfø­rer revi­si­ons­hand­lin­ger som reak­tion på disse risici samt opnår revi­si­ons­be­vis, der er til­stræk­ke­ligt og egnet til at danne grund­lag for vores kon­klu­sion. Risi­koen for ikke at opdage væsent­lig fejl­in­for­ma­tion for­år­sa­get af besvi­gel­ser er høje­re end ved væsent­lig fejl­in­for­ma­tion for­år­sa­get af fejl, idet besvi­gel­ser kan om­fat­te sam­men­svær­gel­ser, doku­ment­falsk, bevid­ste ude­ladel­ser, vild­led­ning eller til­si­de­sæt­tel­se af intern kon­trol. 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.Opnår vi for­stå­else af den inter­ne kon­trol med rele­vans for revi­sio­nen for at kunne udfor­me revi­si­ons­hand­lin­ger, der er pas­sen­de efter omstæn­dig­he­der­ne, men ikke for at kun­ne udtryk­ke en kon­klu­sion om effek­ti­vi­te­ten af kon­cer­nens og sel­ska­bets inter­ne kon­trol. 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 Group's and the Parent Company's internal control.Tager vi stilling til, om den regn­skabs­prak­sis, som er anvendt af ledel­sen, er pas­sen­de, samt om de regn­skabs­mæs­sige skøn og til­knyt­te­de oplys­ninger, som ledel­sen har udar­bej­det, er rime­lige. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management.Konkluderer vi, om le­del­sens udar­bej­del­se af regn­ska­ber­ne på grund­lag af regn­skabs­prin­cip­pet om fort­sat drift er pas­sen­de, samt om der på grund­lag af det opnå­ede revi­si­ons­be­vis er væsent­lig usik­ker­hed for­bun­det med begi­ven­he­der eller for­hold, der kan skabe bety­de­lig tvivl om kon­cer­nens og sel­ska­bets evne til at fort­sætte drif­ten. Hvis vi kon­klu­de­rer, at der er en væsent­lig usik­ker­hed, skal vi i vores revi­si­ons­på­teg­ning gøre opmærk­som på oplys­ninger her­om i regn­ska­ber­ne eller, hvis sådan­ne oplys­nin­ger ikke er til­stræk­ke­li­ge, modi­fi­ce­re vores kon­klu­sion. Vores kon­klu­sion er base­ret på det revi­si­ons­be­vis, der er opnå­et frem til da­to­en for vores revi­si­ons­på­teg­ning. Frem­ti­di­ge begi­ven­he­der eller for­hold kan dog med­føre, at kon­cer­nen og sel­ska­bet ikke læn­ge­re kan fort­sæt­te drif­ten. 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 Group's and the Parent 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 Group and the Parent Company to cease to continue as a going concern.Tager vi stilling til den sam­le­de præ­sen­ta­tion, struk­tur og ind­hold af regn­ska­berne, her­under note­oplys­ning­erne, samt om regn­ska­berne afspej­ler de under­lig­gen­de trans­ak­ti­oner og begi­ven­he­der på en sådan måde, at der gives et ret­vi­sen­de bil­le­de her­af. 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.Plan­læg­ger og ud­fø­rer vi kon­cern­re­vi­sio­nen for at op­nå til­stræk­ke­ligt og eg­net re­vi­sions­be­vis ved­rø­ren­de de fi­nan­si­el­le op­lys­nin­ger for virk­som­he­der­ne el­ler for­ret­nings­en­he­der­ne i kon­cer­nen som grund­lag for at ud­for­me en kon­klu­sion om kon­cern­regn­ska­bet. Vi er an­svar­li­ge for at le­de, føre til­syn med og gen­nem­gå det ud­før­te re­vi­sions­ar­bej­de til brug for kon­cern­re­vi­sio­nen. Vi er ene­an­svar­li­ge for vo­res re­vi­sions­kon­klu­sion. Plan and per­form the group audit to ob­tain suf­fi­cient ap­pro­priate audit evi­dence re­gar­ding the fi­nan­cial in­for­ma­tion of the en­tities or busi­ness units within the group as a basis for for­ming an opin­ion on the group fi­nan­cial state­ments. We are re­spon­sible for the di­rec­tion, su­per­vision and re­view of the audit work per­formed for pur­poses of the group audit. We re­main solely re­spon­sible for our audit opin­ion.Vi kom­mu­ni­ke­rer med den øver­ste ledel­se om bl.a. det plan­lag­te omfang og den tids­mæs­sige pla­ce­ring af revi­sio­nen samt bety­de­li­ge revi­si­ons­mæs­si­ge obser­va­tio­ner, her­under even­tu­el­le bety­de­li­ge mang­ler i intern kon­trol, som vi iden­ti­fi­ce­rer under revi­sio­nen. 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. Ledelsen er ansvarlig for ledelsesberetningen. Management is responsible for the Management's review.Vores konklusion om regn­ska­berne omfat­ter ikke ledel­ses­be­ret­ning­en, og vi ud­tryk­ker ingen form for kon­klu­sion med sik­ker­hed om ledel­ses­be­ret­ning­en. Our opinion on the financial statements does not cover the Management's review, and we do not express any form of assurance conclusion thereon.I tilknytning til vores revision af regn­ska­berne er det vores ansvar at læse ledel­ses­be­ret­ning­en og i den for­bin­del­se over­ve­je, om ledel­ses­be­ret­ning­en er væsent­ligt inkon­si­stent med regn­ska­berne eller vores viden opnå­et ved revi­sio­nen eller på anden måde sy­nes at inde­hol­de væsent­lig fejl­in­for­ma­tion. 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.Vores ansvar er derudover at overveje, om ledel­ses­be­ret­ning­en inde­hol­der kræ­ve­de oplys­nin­ger i hen­hold til års­regn­skabs­lo­ven. Moreover, it is our responsibility to consider whether the Management's review provides the information required under the Danish Financial Statements Act.Baseret på det udfør­te arbej­de er det vores opfat­tel­se, at ledel­ses­be­ret­ning­en er i over­ens­stem­mel­se med regn­ska­ber­ne og er udar­bej­det i over­ens­stem­mel­se med års­regn­skabs­lo­vens krav. Vi har ikke fun­det væsent­lig fejl­in­for­ma­tion i ledel­ses­be­ret­ning­en. Based on the work we have performed, we conclude that the Management's review is in accordance with the financial statements and has been prepared in accordance with the requirements of the Danish Financial Statements Act. We did not identify any material misstatement of the Management's review. Sønderjylland 2026-03-23 Christian S. Christiansen statsaut. revisor State Authorised Public Accountant mne32171 72459000 68440000 73983000 14885000 14395000 23524000 -596000 745000 -137000 -570000 -1145000 10508000 10743000 17050000 190687000 187505000 183766000 -3248000 -3706000 -22771000 -21632000 -3330000 121305000 114324000 107793000 11661000 10694000 18812000 -13064000 -21217000 -3006000 -3600000 -4212000 -4684000 21731000 -958000 -5003000 -14735000 11122000 217.2 245.6 212.4 211.7 224 61.9 68 63.6 61 58.7 11.3 13.3 8.9 9.7 16.8 7.8 8.9 6.4 6.1 9.8 Der henvises til definitioner og begreber under anvendt regnskabspraksis. For terms and definitions, please see the accounting policies. Hovedaktiviteten har, i lighed med tidligere år, bestået af at sælge, montere og kvalitets­kon­trollere maskiner og pakkesystemer primært til fødevareindustrien. In line with previous years, the group's principal activities are sale, assembly and quality control of machinery and packing systems primarily for the food industry. Årets resultat er realiseret med 16,2 mio. kr. mod 17,0 mio. kr. sidste år, og egenkapitalen udgør 151,1 mio. kr. pr. 31. december 2025. Ledelsen forventede i årsrapporten for 2024 et resultat for 2025 på niveau 12-14 mio. kr. Det realiserede resultat er markant højere end forventet, hvilket kan henføres til et højere aktivitetsniveau og en svagere YEN end forventet. Profit for the year totalled DKK 16.2 million against DKK 17.0 million last year, and equity totalled DKK 151.1 million at 31 December 2025. In the annual report for 2024 Management expected to realise a profit for 2025 in the range of DKK 12-14 million. The realised result is significantly above expectations, primarily due to a higher level of activity and a weaker YEN than anticipatedÅrets resultat anses som værende tilfredsstillende. The Group’s result and financial performance are considered satisfactory. Valuta risici Currency risksKoncernen fakturerer primært i DKK og EUR, mens en væsentlig del af varekøbet sker i YEN. Som følge heraf påvirkes resultat, penge­strømme og egenkapital af kursudviklingen for disse valutaer.     Herudover har selskabet alene de for branchen sædvanlige risici. The Group does primarily invoice in DKK and EUR, whereas a significant share of the goods purchased is made in YEN. As a consequence of this, the result, cash flow and equity are influenced by the development in the foreign exchange rates of these currencies.   In addition, the Company has solely the particular risks relating to this line of business. Koncernen er miljøbevidst og arbejder på at reducere miljøpåvirkningerne fra koncernen. Det er ledelsens vurdering, at koncernen ikke udgør en særlig belastning af det eksterne miljø. The Group is environmentally aware and works to reduce the environmental impact of the Group. It is management’s assessment that the Group does not pose a particular burden on the external environment.Koncernens produkter hjælper industrien med at reducere brugen af emballagemateriale og muliggør en højere grad af genanvendelighed. The groups products are helping the industry to reduce the use of packaging material and enable a higher rate of recyclability. De foregående års positive resultater forventes at fortsætte i 2026. Ledelsen forventer et resultat før finansielle poster i niveauet 18-22 millioner kr. The previous year’s positive results are expected to continue in 2026. The management expects a result before financial items in the range of DKK 18-22 millionI lighed med tidligere år er de usikre faktorer især knyttet til kursudviklingen i YEN. Forventningerne er baseret på en uændret YEN kurs. As in previous years, the uncertain factors are particularly linked to the exchange rate development in YEN. The expectations are based on an unchanged YEN rate. 89975344 83544477 36394481 34561490 64575080 57831278 16859764 14914746 3737012 3525139 2025752 1914789 106232 791842 0 0 21557020 21396218 17508965 17731955 0 0 3106500 2622387 555001 1068850 171828 803107 1150830 324305 883976 86213 20961191 22140763 19903317 21071236 4790166 5147810 3732292 4078283 16171025 16992953 16171025 16992953 324682 419003 324645 413185 324682 419003 324645 413185 35616449 36803640 35616449 36803640 8080454 8373392 2056869 2367575 697969 0 0 0 44394872 45177032 37673318 39171215 0 0 41351977 30634635 75310 22380 0 0 75310 22380 41351977 30634635 44794864 45618415 79349940 70219035 0 48684 0 0 71431669 55199391 46345444 39084440 117259 23283 0 0 71548928 55271358 46345444 39084440 41377880 47572747 4800851 5646127 0 0 621428 13551634 491540 428051 90131 50836 61143 0 21219 0 0 277126 0 277126 17880428 2809773 1288298 340111 1125985 1026056 694646 466147 60936976 52113753 7516573 20331981 66692806 44924019 44165115 26132192 199178710 152309130 98027132 85548613 243973574 197927545 177377072 155767648 1001000 1000000 1001000 1000000 0 0 19732641 16580954 130411 85225 0 0 -1559499 216159 -1559499 216159 146959365 128541426 127357135 112045697 4571000 4800000 4571000 4800000 151102277 134642810 151102277 134642810 1170551 1282135 679000 746000 1170551 1282135 679000 746000 1999357 0 1999357 0 40945349 18496070 0 0 8054114 8450960 3832295 3781905 19371787 17596904 16274571 11362273 206672 1785263 0 990221 0 0 746890 0 21123467 15673403 2742682 4244439 91700746 62002600 25595795 20378838 91700746 62002600 25595795 20378838 243973574 197927545 177377072 155767648 1000000 85225 216159 128541426 4800000 1000 6817914 0 0 11600025 4571000 0 -45186 0 0 0 0 -2215516 0 0 -439858 0 0 4800000 1001000 130411 -1559499 146959365 4571000 1000000 16580954 216159 112045697 4800000 1000 6817914 3106501 0 8493524 4571000 0 -45186 0 0 0 0 -2215516 0 0 0 -439858 0 0 4800000 1001000 19732641 -1559499 127357135 4571000 16171025 16992953 8192808 8695143 3905185 -15328725 28269018 10359371 6053076 4092417 22215942 6266954 0 465872 3247650 3705804 743583 846766 -6818921 0 4314854 -3324910 4800000 3900000 -4800000 -3900000 21730796 -957956 44924019 45857716 37991 24259 66692806 44924019 Årsrapporten for FUJI PACKAGING A/S for 2025 er aflagt i over­ens­stem­mel­se med års­regn­skabs­lo­vens be­stem­mel­ser for mel­lem­sto­re klas­se C-virk­som­he­der. The annual report of FUJI PACKAGING A/S for 2025 has been prepared in accordance with the provisions in the Danish Financial Statements Act applying to medium-sized reporting class C entities. Årsregnskabet er aflagt efter sam­me regn­skabs­prak­sis som sidste år. The accounting policies used in the preparation of the financial statements are consistent with those of last year. Med henvisning til årsregnskabslovens § 86, stk. 4, udarbejdes ikke pen­ge­strøms­op­gø­rel­se for moder­virk­som­he­den, da moder­virk­som­he­dens pen­ge­strøm­me ind­går i den sam­le­de pen­ge­strøms­op­gø­rel­se for kon­cer­nen. With reference to section 86(4) of the Danish Financial Statements Act, no cash flow statement is prepared for the parent company, as its cash flows are reflected in the consolidated cash flow statement. Præsentationsvaluta Reporting currencyÅrsregnskabet er aflagt i danske kroner (DKK). The financial statements are presented in Danish kroner (DKK). Koncernregnskabet omfatter moder­virk­som­heden FUJI PACKAGING A/S og virksomheder, hvori moder­virk­som­he­den har bestemmende ind­fly­delse. Bestemmende ind­fly­del­se antages at foreligge, når mo­der­virk­som­he­den di­rekte eller indirekte besidder mere end halv­de­len af stemmerettighederne. Bestemmende ind­fly­del­se kan til­lige foreligge via aftale el­ler vedtægter, el­ler fordi mo­dervirksomheden på anden måde har el­ler faktisk udøv­er bestemmende indflydelse i dat­ter­virk­somheden. The consolidated financial statements comprise the parent, FUJI PACKAGING A/S, and entities controlled by the parent. Control is presumed to exist when the parent owns, directly or indirectly, more than half of the voting power of an entity. Control may also exist by virtue of an agreement or articles of association or when the parent otherwise has a controlling interest in the subsidiary or actually exercises controlling influence over it.Eksistensen og virkningen af potentielle stem­me­ret­tig­he­der, der aktu­elt kan udnyt­tes eller kon­ver­te­res, med­ta­ges ved vur­de­rin­gen af, om bestem­men­de ind­fly­del­se fore­lig­ger. The existence and impact of potential voting rights that are actually exercisable or convertible are taken into account when assessing whether control exists.De konsoliderede virksomheders regnskaber ud­ar­bej­des efter den samme regnskabspraksis, som er be­nyt­tet i modervirksomheden. Kon­cern­regn­ska­bet ud­ar­bej­des ved at sammendrage regnskaber for de kon­so­li­de­re­de virk­somheder ved sammenlægning af regn­skabs­pos­ter med ensartet indhold. Koncerninterne ind­tæg­ter, omkostnin­ger, avancer, tab, ejerandele, udbytter og mellemvæ­render elimineres. Kapitalandele i kon­soliderede virk­somheder udlignes med den for­holds­mæs­si­ge andel af den konsoliderede virk­som­heds dagsværdi af aktiver og forpligtelser på an­skaf­fel­ses­tids­punktet. The consolidated entities' financial statements are prepared in accordance with the accounting policies applied by the parent. The consolidated financial statements are prepared on the basis of the financial statements of the consolidated entities by adding together like items. Intra-group income, expenses, gains, losses, investments, dividends and balances are eliminated. Investments in consolidated entities are set off by the parent's proportionate share of the consolidated entity's fair value of assets and liabilities at the time of acquisition.Nyerhvervede eller nystiftede virksomheder ind­reg­nes i kon­cern­regn­ska­bet fra an­skaf­fel­ses­tids­punk­tet. Solg­te eller afvik­le­de virk­som­he­der ind­reg­nes i den kon­so­li­de­re­de resul­tat­op­gø­rel­se frem til afstå­el­ses­tids­punk­tet. Sam­men­lig­nings­tal kor­ri­ge­res ikke for nyer­hver­ve­de, solg­te eller afvik­le­de virk­som­he­der. Entities acquired or formed are recognised in the consolidated financial statements from the date of acquisition or formation. Entities sold or otherwise disposed of are recognised in the consolidated income statement until the date of disposal. Comparative figures are not restated for acquisitions or disposals.Ved køb af nye virksomheder anvendes over­ta­gel­ses­me­to­den, hvor­ef­ter de nytil­køb­te virk­som­he­ders iden­ti­fi­ce­re­de akti­ver og for­plig­tel­ser måles til dags­vær­di på erhverv­el­ses­tids­punk­tet. Omkost­nin­ger til omstruk­tu­re­rin­ger, som er ind­reg­net i den over­tag­ne virk­som­hed inden over­ta­gel­ses­da­gen, og som ikke er aftalt som led i virk­som­heds­over­ta­gel­sen, ind­går i over­ta­gel­ses­ba­lan­cen og der­med fast­læg­gel­se af good­will. Omstruk­tu­re­rin­ger, der beslut­tes af den over­ta­gen­de virk­som­hed, skal ind­reg­nes i resul­tat­op­gø­rel­sen. Der tages hen­syn til skat­te­ef­fe­kten af de fore­tag­ne omvur­de­rin­ger. Posi­ti­ve for­skels­be­løb (good­will) mel­lem kost­pris og dags­vær­di af over­tag­ne iden­ti­fi­ce­re­de akti­ver og for­plig­tel­ser ind­reg­nes under imma­te­ri­el­le akti­ver og afskri­ves sys­te­ma­tisk over resul­tat­op­gø­rel­sen efter en indi­vi­du­el vur­de­ring af den øko­no­mis­ke leve­tid. Nega­ti­ve for­skels­be­løb (nega­tiv good­will) ind­reg­nes som en ind­tægt i resul­tat­op­gø­rel­sen på over­ta­gel­ses­tids­punk­tet, når de almin­de­li­ge betin­gel­ser for ind­reg­ning af en ind­tægt er til ste­de. Good­will og neg­ativ good­will fra erhver­ve­de virk­som­he­der kan re­gu­le­res ind­til 12 måne­der efter over­ta­gel­sen. Corporate acquisitions are accounted for using the purchase method, according to which the acquired entity's identifiable assets and liabilities acquired are measured at their fair values at the date of acquisition. Restructuring costs recognised in the acquired entity before the date of acquisition and not agreed as part of the acquisition are part of the acquisition balance sheet and, hence, the calculation of goodwill. Restructuring costs decided by the acquiring entity must be recognised in the income statement. Allowance is made for the tax effect of revaluations made. Any excess of the cost over the fair value of the identifiable assets and liabilities acquired (goodwill) is recognised as intangible assets and amortised on a systematic basis in the income statement based on an individual assessment of the useful life of the asset. Negative differences (negative goodwill) are recognised as income in the income statement at the time of acquisition when the general revenue recognition criteria are met. Goodwill and negative goodwill from acquired entities can be adjusted until 12 months after the year of acquisition. Ny­er­hver­ve­de virk­som­he­der ind­reg­nes i kon­cern­regn­ska­bet fra over­ta­gel­ses­tids­punk­tet. Sam­men­lig­nings­tal kor­ri­ge­res ikke for ny­er­hver­ve­de virk­som­he­der. Recently acquired entities are recognised in the consolidated financial statements from the date of acquisition. Comparative figures are not restated to reflect newly acquired entities.Over­ta­gel­ses­tids­punk­tet er det tids­punkt, hvor kon­cer­nen fak­tisk op­når kon­trol over den over­tag­ne virk­som­hed. The date of acquisition is the date when the group actually obtains control of the acquiree.Ved køb af nye virk­som­he­der, hvor kon­cer­nen op­når be­stem­men­de ind­fly­del­se over den køb­te virk­som­hed, an­ven­des over­ta­gel­ses­me­to­den. De til­køb­te virk­som­he­ders iden­ti­fi­cer­bare ak­ti­ver, for­plig­tel­ser og even­tu­al­for­plig­tel­ser må­les til dags­vær­di på over­ta­gel­ses­tids­punk­tet. Iden­ti­fi­cer­ba­re im­ma­te­ri­el­le ak­ti­ver ind­reg­nes, hvis de kan ud­skil­les eller ud­sprin­ger fra en kon­trakt­lig ret. Der ind­reg­nes ud­skudt skat af de fo­re­tag­ne om­vur­de­rin­ger. The acquisition method is applied to the acquisition of new entities of which the group obtains control. The acquirees’ identifiable assets, liabilities and contingent liabilities are measured at fair value at the date of acquisition. Identifiable intangible assets are recognised if they are separable or arise from a contractual right. Deferred tax related to the revaluations is recognised.Po­si­ti­ve for­skels­be­løb (good­will) mel­lem på den ene side købs­ve­der­la­get, vær­dien af mino­ri­tets­in­te­res­ser i den over­tag­ne virk­som­hed og dags­vær­dien af even­tu­el­le tid­li­ge­re er­hver­ve­de ka­pi­tal­an­de­le, og på den an­den side dags­vær­dien af de over­tag­ne iden­ti­fi­cer­bare ak­ti­ver, for­plig­tel­ser og even­tu­al­for­plig­tel­ser ind­reg­nes som good­will under im­ma­te­ri­el­le ak­ti­ver. Good­will af­skri­ves li­ne­ært i re­sul­tat­op­gø­rel­sen efter en in­di­vi­du­el vur­de­ring af den øko­no­mi­ske leve­tid. Positive differences (goodwill) between, on the one hand, the consideration for the acquiree, the value of non-controlling interests in the acquired entity and the fair value of any previously acquired equity investments and, on the other hand, the fair value of the assets, liabilities and contingent liabilities acquired are recognised as goodwill under “Intangible assets”. Goodwill is amortised on a straight-line basis in the income statement based on an individual assessment of the economic life of the asset.Ne­ga­ti­ve for­skels­be­løb (ne­ga­tiv good­will) ind­reg­nes i re­sul­tat­op­gø­rel­sen på over­ta­gel­ses­tids­punk­tet. Negative differences (negative goodwill) are recognised in the income statement at the date of acquisition.Ved over­ta­gel­sen hen­fø­res good­will til de pen­ge­strøms­frem­bring­ende en­he­der, der efter­følg­ende dan­ner grund­lag for ned­skriv­nings­test. Good­will og dags­vær­di­re­gu­le­rin­ger i for­bin­del­se med over­ta­gel­se af en uden­landsk en­hed med en an­den funk­tio­nel va­lu­ta end kon­cer­nens præ­sen­ta­ti­ons­va­lu­ta be­hand­les som ak­ti­ver og for­plig­tel­ser til­hø­ren­de den uden­land­ske en­hed og om­reg­nes ved før­ste ind­reg­ning til den uden­land­ske en­heds funk­tio­nel­le va­lu­ta med trans­ak­ti­ons­da­gens va­lu­ta­kurs. Upon acquisition, goodwill is allocated to the cash-generating units, which subsequently form the basis for impairment testing. Goodwill and fair value adjustments in connection with the acquisition of a foreign entity with a functional currency different from the presentation currency used in the consolidated financial statements are accounted for as assets and liabilities belonging to the foreign entity and are, on initial recognition, translated into the foreign entity's functional currency using the exchange rate at the transaction date.Købs­ve­der­la­get for en virk­som­hed be­står af dags­vær­dien af det af­tal­te ve­der­lag i form af over­drag­ne ak­ti­ver, på­tag­ne for­plig­tel­ser og ud­sted­te egen­ka­pi­tal­in­stru­men­ter. Hvis en del af købs­ve­der­la­get er be­tin­get af frem­ti­di­ge be­gi­ven­he­der eller op­fyl­del­se af af­tal­te be­tin­gel­ser, ind­reg­nes den­ne del af købs­ve­der­la­get til dags­vær­di på over­ta­gel­ses­tids­punk­tet. Efter­følg­ende re­gu­le­rin­ger af be­ting­ede købs­ve­der­lag ind­reg­nes i re­sul­tat­op­gø­rel­sen. The consideration paid for an entity consists of the fair value of the agreed consideration in the form of assets transferred, liabilities assumed and equity instruments issued. If part of the consideration is contingent on future events or compliance with agreed terms, such part of the consideration is recognised at fair value at the date of acquisition. Subsequent adjustments of contingent considerations are recognised in the income statement.Omkostninger, af­holdt i for­bin­del­se med virk­som­heds­køb, ind­reg­nes i re­sul­tat­op­gø­rel­sen i af­hol­del­ses­året. Expenses incurred to acquire entities are recognised in the income statement in the year in which they are incurred. Trans­ak­tio­ner i frem­med valu­ta omreg­nes ved før­ste ind­reg­ning til trans­ak­ti­ons­da­gens kurs. Valu­ta­kurs­dif­fe­ren­cer, der opstår mel­lem trans­ak­ti­ons­da­gens kurs og kur­sen på beta­lings­da­gen, ind­regnes i resul­tat­op­gø­rel­sen som en finan­si­el post. On initial recognition, transactions denominated in foreign currencies are translated at the exchange rate at the transaction date. Foreign exchange differences arising between the exchange rates at the transaction date and the date of payment are recognised in the income statement as financial income or financial expenses.Til­go­de­ha­ven­der, gæld og andre mone­tæ­re pos­ter i frem­med valu­ta om­reg­nes til balan­ce­da­gens valu­ta­kurs. For­skel­len mel­lem balan­ce­da­gens kurs og kur­sen på tids­punk­tet for til­go­de­ha­ven­dets eller gælds­for­plig­tel­sens opstå­en eller ind­reg­ning i senes­te års­regn­skab ind­reg­nes i resul­tat­op­gø­rel­sen under finan­si­el­le ind­tæg­ter og omkost­nin­ger. Receivables and payables and other monetary items denominated in foreign currencies are translated at the exchange rate at the balance sheet date. The difference between the exchange rates at the balance sheet date and the date at which the receivable or payable arose or was recognised in the most recent financial statements is recognised in the income statement as financial income or financial expenses. Udenlandske tilknyttede virksomheder Foreign group entitiesUden­land­ske tilknyttede virk­som­he­der anses for at være selv­stæn­di­ge enhe­der. Resul­tat­op­gø­rel­ser­ne omreg­nes til en gen­nem­snit­lig valu­ta­kurs for måne­den, og balan­ce­pos­ter­ne omreg­nes til balan­ce­da­gens valu­ta­kur­ser. Kurs­dif­fe­ren­cer, opstå­et ved omreg­ning af uden­land­ske tilknyttede virk­som­he­ders egen­ka­pi­tal ved årets begyn­del­se til balan­ce­da­gens valu­ta­kur­ser og ved omreg­ning af resul­tat­op­gø­rel­ser fra gen­nem­snits­kur­ser til balan­ce­da­gens valu­ta­kur­ser, ind­reg­nes direk­te i egen­ka­pi­ta­len. Foreign group entities are considered separate entities. Items in such entities' income statements are translated at an average exchange rate for the month, and balance sheet items are translated at closing rates. Foreign exchange differences arising on translation of the opening equity of foreign group entities to closing rates and on translation of the income statements from average exchange rates to closing rates are taken directly to equity. Afled­te finan­si­el­le instru­men­ter ind­reg­nes før­ste gang i balan­cen til kost­pris og måles efter­føl­gen­de til dags­vær­di. Posi­ti­ve og nega­ti­ve dags­vær­di­er af afled­te finan­si­el­le instru­men­ter præsenteres som sær­skil­te regn­skabs­poster i balancen. On initial recognition, derivative financial instruments are recognised at cost in the balance sheet and are subsequently measured at fair value. Positive and negative fair values of derivative financial instruments are presented as separate items in the balance sheet.Æn­drin­ger i dags­vær­di­en af afled­te finan­si­el­le instru­men­ter, der er klas­si­fi­ce­ret som og opfyl­der kri­te­ri­er­ne for sik­ring af dags­vær­di­en af et ind­reg­net aktiv el­ler en ind­reg­net for­plig­tel­se, ind­reg­nes i resul­tat­op­gø­rel­sen sam­men med ændrin­ger i dags­vær­di­en af det sik­re­de aktiv eller den sik­re­de for­plig­tel­se. Fair value adjustments of derivative financial instruments designated as and qualifying for recognition as a hedge of the fair value of a recognised asset or liability are recognised in the income statement along with changes in the fair value of the hedged asset or liability.Ændringer i dagsværdi af afledte finansielle in­stru­men­ter, der er klas­si­fi­ce­ret som og op­fyl­der be­ting­el­ser­ne for sik­ring af frem­ti­dige ak­ti­ver eller for­plig­tel­ser, ind­reg­nes som sær­skil­te regn­skabs­pos­ter i ba­lan­cen og i re­ser­ven for sik­rings­trans­ak­tio­ner under egen­ka­pi­tal­en. Re­sul­te­rer den frem­ti­dige trans­ak­tion i ind­reg­ning af ak­ti­ver eller for­plig­tel­ser, over­fø­res be­løb, som tid­lig­ere er ind­reg­net på egen­ka­pi­tal­en til kost­pri­sen for hen­holds­vis ak­ti­vet eller for­plig­tel­sen. Re­sul­te­rer den frem­ti­dige trans­ak­tion i ind­tæg­ter eller om­kost­ning­er, over­fø­res be­løb, som tid­lig­ere er ind­reg­net i egen­ka­pi­tal­en, til re­sul­tat­op­gør­el­sen i den pe­ri­ode, hvor det sik­rede på­vir­ker re­sul­tat­op­gør­el­sen. Fair value adjustments of derivative financial instruments designated and qualifying as hedging of future assets or liabilities are recognised as separate items in the balance sheet and in the hedging reserve under equity. If the forecast transaction results in the recognition of assets or liabilities, amounts previously recognised in equity are transferred to the cost of the asset or liability, respectively. If the forecast transaction results in income or expenses, amounts previously recognised in equity are transferred to the income statement in the period in which the hedged item affects the income statement. Virksomheden har valgt IAS 11/IAS 18 som for­tolk­ningsbidrag for indregning af omsætning. The Company has chosen IAS 11/IAS 18 as interpretation for revenue recognition.Ind­tæg­ter fra salg af han­dels­va­rer og fær­dig­va­rer ind­reg­nes i net­to­om­sæt­nin­gen, når over­gang af de væ­sent­lig­ste for­de­le og ri­si­ci til kø­ber har fun­det sted, ind­tæg­ten kan op­gø­res på­li­de­ligt og be­ta­ling for­ven­tes mod­ta­get. Income from the sale of goods for resale and finished goods is recognised in revenue when transfer of the most significant rewards and risks to the buyer has taken place and provided that the income can be reliably measured and payment is expected to be received.Indtægter ved levering af tjenesteydelser indregnes som omsætning i takt med leveringen af ydelserne, hvorved net­toomsætningen svarer til salgsværdien af årets udførte tjenesteydelser (produktionsmeto­den). Income from the rendering of services is recognised as revenue as the services are rendered, implying that revenue corresponds to the market value of the services rendered in the year (production method).Netto­om­sæt­ning må­les til dags­vær­di­en af det aftal­te veder­lag ekskl. moms og afgif­ter opkræ­vet på veg­ne af tred­je­part. Alle for­mer for afgiv­ne ra­bat­ter ind­reg­nes i netto­om­sæt­nin­gen. Revenue is measured at the fair value of the agreed consideration excluding VAT and taxes charged on behalf of third parties. All discounts and rebates granted are recognised in revenue. I resultatopgørelsen er nettoomsætning, vareforbrug, andre driftsindtægter og eksterne omkostninger med hen­vis­ning til års­regn­skabs­lo­vens § 32 sam­men­dra­get til én regn­skabs­post benævnt bruttofortjeneste. The items revenue, cost of sales, other operating income and external expenses have been aggregated into one item in the income statement called gross profit in accordance with section 32 of the Danish Financial Statements Act. Andre driftsindtægter inde­hol­der regn­skabs­pos­ter af sekun­dær karak­ter i for­hold til virk­som­he­dens hoved­ak­ti­vi­te­ter, her­under lejeindtægter, lønrefusion og for­tje­ne­ste eller tab ved salg af anlægsakti­ver. Other operating income comprise items of a secondary nature relative to the Company's core activities, including rental income, reimbursement of wages  and gains or losses on the sale of fixed assets.Andre driftsindtægter omfatter tillige ind­reg­ning af negative forskelsbeløb (negativ goodwill) ved virksomhedsovertagelser, som indregnes i resultatopgørelsen på overtagelsestidspunktet. Other operating income also includes recognition of negative goodwill at acquisitions, which are recognised in the income statement at the date of acquisition. Andre eksterne omkostninger omfat­ter omkost­nin­ger ved­rør­en­de virk­som­he­dens pri­mæ­re akti­vi­tet, der er afholdt i årets løb, her­un­der omkost­nin­ger til dis­tri­bu­tion, salg, rekla­me, admi­ni­stra­tion, loka­ler, tab på debi­to­rer, ydel­ser på ope­ra­tio­nel­le lea­sing­kon­trak­ter m.v. Other external expenses include the year's expenses relating to the Company's core activities, including expenses relating to distribution, sale, advertising, administration, premises, bad debts, payments under operating leases, etc. Personaleomkostninger omfatter løn og gager, inkl. feriepenge og pensioner, samt andre om­kost­ninger til social sikring m.v. til virk­som­he­dens medarbejdere. Staff costs comprise wages and salaries, including holiday allowance and pensions, and other social security costs, etc., for the Company's employees. Afskrivninger omfatter afskrivninger på immaterielle og materielle anlægsaktiver. The item comprises amortisation/depreciation of intangible assets and property, plant and equipment.Afskrivningsgrundlaget, der opgøres som kost­pri­sen med fra­drag af even­tu­el rest­vær­di, afskri­ves line­ært over den for­ven­te­de brugs­tid, base­ret på føl­gen­de vur­de­ring af akti­ver­nes for­ven­te­de brugs­ti­der: The basis of amortisation/depreciation, which is calculated as cost less any residual value, is amortised/depreciated on a straight line basis over the expected useful life. The expected useful lives of the assets are as follows:Erhvervede immaterielle anlægsaktiverAcquired intangible assets 3-5 år/years BygningerBuildings 25-33 år/yearsAndre anlæg, driftsmateriel og inventarOther fixtures and fittings, tools and equipment 3-13 år/years Grunde afskrives ikke. Land is not depreciated. Andre driftsomkostninger inde­hol­der regn­skabs­pos­ter af sekun­dær karak­ter i for­hold til virk­som­he­dens hoved­ak­ti­vi­te­ter, her­under tab ved afhændelse af anlægsaktiver. Other operating expenses comprise items of a secondary nature relative to the Company's core activities, including losses on the sale of fixed assets. Finansielle indtægter og omkostninger indregnes i re­sultatopgørelsen med de beløb, der vedrører regn­skabsåret. Po­sterne omfatter renteindtægter og om­kostninger, realisere­de og urealiserede kurs­ge­vinster og tab vedrørende transaktioner i fremmed valuta, amor­ti­se­ring af finansielle aktiver og forpligtelser samt tillæg og godtgørelser under acontoskatteordningen m.v. Financial income and expenses are recognised in the income statement at the amounts that relate to the financial reporting period. The items comprise interest income and expenses, realised and unrealised capital gains and losses relating to exchange gains and losses and amortisation of financial assets and liabilities as well as allowances and surcharges under the advance-payment-of-tax-scheme, etc. Skat af årets resultat omfatter aktuel skat af årets for­ven­te­de skat­te­plig­ti­ge ind­komst og årets regu­le­ring af udskudt skat. Årets skat ind­reg­nes i resul­tat­op­gø­rel­sen med den del, der kan hen­fø­res til årets resul­tat, og i egen­ka­pi­ta­len med den del, som kan hen­fø­res til trans­ak­tio­ner ind­reg­net i egen­ka­pi­ta­len. Tax for the year includes current tax on the year's expected taxable income and the year's deferred tax adjustments. The portion of the tax for the year that relates to the profit/loss for the year is recognised in the income statement, whereas the portion that relates to transactions taken to equity is recognised in equity. Andre immaterielle anlægsaktiver omfatter software og andre erhvervede immaterielle ret­tig­he­der. Other intangible assets include other acquired intangible rights, including software licences, distribution rights and development projects.Andre immaterielle anlægsaktiver måles til kost­pris med fra­drag af akku­mu­le­re­de af- og ned­skriv­nin­ger. Other intangible assets are measured at cost less accumulated amortisation and impairment losses. Materielle anlægsaktiver Property, plant and equipmentMaterielle anlægsaktiver måles til kost­pris med fra­drag af akku­mu­le­re­de af- og ned­skriv­nin­ger. Kost­pri­sen omfat­ter anskaf­fel­ses­pri­sen og omkost­nin­ger direk­te knyt­tet til anskaf­fel­sen ind­til det tids­punkt, hvor akti­vet er klar til brug. Items of property, plant and equipment are measured at cost less accumulated depreciation and impairment losses. Cost includes the acquisition price and costs directly related to the acquisition until the time at which the asset is ready for use.For­tje­nes­te eller tab opgø­res som for­skel­len mel­lem salgs­pris med fra­drag af salgs­om­kost­nin­ger og den regn­skabs­mæs­si­ge vær­di på salgs­tids­punk­tet. For­tje­nes­te og tab ved salg af mate­ri­el­le akti­ver ind­reg­nes i resul­tat­op­gø­rel­sen under hen­holds­vis andre drifts­ind­tæg­ter og andre drifts­om­kost­nin­ger. Gains or losses are calculated as the difference between the selling price less selling costs and the carrying amount at the date of disposal. Gains and losses from the disposal of property, plant and equipment are recognised in the income statement as other operating income or other operating expenses. Virksomheden har som fortolkningsbidrag for klassifikation og indregning af leasingkontrakter valgt IAS 17. The Company has chosen IAS 17 as interpretation for classification and recognition of leases.Leasingkontrakter, hvor virksomheden ikke har alle væsent­li­ge for­del­e og risi­ci for­bun­det med ejen­doms­ret­ten, er ope­ra­tio­nel lea­sing. Ydel­ser i for­bin­del­se med ope­ra­tio­nel lea­sing og øvri­ge leje­kon­trak­ter ind­reg­nes i resul­tat­op­gø­rel­sen over kon­trak­tens løbe­tid. Virk­som­he­dens sam­le­de for­plig­tel­ser ved­rø­ren­de ope­ra­tio­nel­le lea­sing og leje­kon­trak­ter oply­ses under even­tu­al­pos­ter. Leases that do not transfer substantially all the risks and rewards incident to the ownership to the Company are classified as operating leases. Payments relating to operating leases and any other rent agreements are recognised in the income statement over the term of the lease. The Company's aggregate liabilities relating to operating leases and other rent agreements are disclosed under "Contingent liabilities". Kapitalandele i dattervirksomheder måles ved før­ste ind­reg­ning til kost­pris og efter­føl­gen­de til den for­holds­mæs­si­ge andel af virk­som­he­der­nes indre vær­di op­gjort efter moder­virk­som­he­dens regn­skabs­prak­sis med fra­drag eller til­læg af reste­ren­de vær­di af posi­tiv eller nega­tiv good­will opgjort efter over­ta­gel­ses­me­to­den. Dattervirk­som­he­der med nega­tiv regn­skabs­mæs­sig indre vær­di måles til 0 kr., og et even­tu­elt til­go­de­ha­ven­de hos dis­se virk­som­he­der ned­skri­ves med moder­virk­som­he­dens andel af den nega­ti­ve indre vær­di, i det om­fang det vur­de­res som uer­hol­de­ligt. Hvis den regn­skabs­mæs­si­ge nega­ti­ve indre vær­di over­sti­ger til­go­de­ha­ven­der, ind­reg­nes det reste­ren­de beløb under hen­sat­te for­plig­tel­ser, i det om­fang moder­virk­som­he­den har en ret­lig eller fak­tisk for­plig­tel­se til at dæk­ke dat­ter­virk­som­he­dens under­ba­lan­ce. Net­to­op­skriv­ning af kapi­tal­an­de­le i dattervirksomheder over­fø­res til egen­ka­pi­ta­len til reser­ve for net­to­op­skriv­ning efter indre vær­dis meto­de, i det om­fang den regn­skabs­mæs­si­ge vær­di over­sti­ger anskaf­fel­ses­vær­di­en. On initial recognition, investments in subsidiaries are measured at cost and subsequently at the proportionate share of the entities' net asset values calculated in accordance with the parent company's accounting policies minus or plus any residual value of positive or negative goodwill calculated in accordance with the purchase method of accounting. Subsidiaries with a negative net asset value are measured at DKK 0 (nil), and any amounts owed by such entities are written down by the parent company's share of the net asset value if the amount owed is deemed irrecoverable. If the negative net asset value exceeds the amounts owed, the remaining amount is recognised under provisions if the parent company has a legal or a constructive obligation to cover the entity's deficit. Net revaluations of investments in subsidiaries are transferred to the net revaluation reserve according to the equity method where the carrying amount exceeds the acquisition cost.Nyer­hver­ve­de eller nystif­te­de virk­som­he­der ind­reg­nes i års­regn­ska­bet fra anskaf­fel­ses­tids­punk­tet. Solg­te eller afvik­le­de virk­som­he­der ind­reg­nes frem til afstå­el­ses­tids­punk­tet. Newly acquired or formed entities are recognised in the financial statements from the date of acquisition or formation. Entities sold or otherwise disposed of are recognised up to the date of disposal.Ved køb af virksomheder anvendes overtagelsesme­to­den. The purchase method of accounting is applied to corporate takeovers. Den regnskabsmæssige værdi af immaterielle og materielle anlægsaktiver samt kapi­tal­an­de­le i til­knyt­tede virk­som­he­der vur­de­res årligt for indi­ka­tio­ner på vær­di­for­rin­gel­se. The carrying amount of intangible assets,  property, plant and equipment and investments in group entities is assessed for impairment on an annual basis. Foreligger der indikationer på værdiforringelse, fore­ta­ges ned­skriv­nings­test af hvert enkelt aktiv hen­holds­vis grup­pe af akti­ver. Der fore­ta­ges ned­skriv­ning til gen­ind­vin­dings­vær­di­en, hvis den­ne er lave­re end den regn­skabs­mæs­si­ge vær­di. Impairment tests are conducted on assets or groups of assets when there is evidence of impairment. The carrying amount of impaired assets is reduced to the higher of the net selling price and the value in use (recoverable amount). Som genindvindingsværdi anvendes den højeste værdi af netto­salgs­pris og kapi­tal­vær­di. Kapi­tal­vær­di­en opgø­res som nutids­vær­di­en af de for­ven­te­de netto­pen­ge­strøm­me fra anven­del­sen af akti­vet eller aktiv­grup­pen og for­ven­te­de netto­penge­strøm­me ved salg af akti­vet eller aktiv­grup­pen efter endt brugs­tid. The recoverable amount is the higher of the net selling price of an asset and its value in use. The value in use is calculated as the present value of the expected net cash flows from the use of the asset or the group of assets and the expected net cash flows from the disposal of the asset or the group of assets after the end of the useful life.Tidligere indregnede nedskrivninger til­ba­ge­fø­res, når begrun­del­sen for ned­skriv­nin­gen ikke læn­ge­re består. Previously recognised impairment losses are reversed when the reason for recognition no longer exists. Vare­be­hold­nin­ger må­les til kost­pris ef­ter FIFO-me­to­den. Er net­to­rea­li­sa­ti­ons­vær­di­en lave­re end kost­pri­sen, ned­skri­ves til den­ne lave­re vær­di. Net­to­rea­li­sa­ti­ons­vær­di­en for vare­be­hold­nin­ger opgø­res som salgs­sum med fra­drag af fær­dig­gø­rel­ses­om­kost­nin­ger og omkost­nin­ger, der afhol­des for at effek­tu­ere sal­get, og fast­sæt­tes under hen­syn­ta­gen til omsæt­te­lig­hed, uku­rans og udvik­ling i for­ven­tet salgs­pris. Inventories are measured at cost in accordance with the FIFO method. Where the net realisable value is lower than cost, inventories are written down to this lower value. The net realisable value of inventories is calculated as the sales amount less costs of completion and expenses required to effect the sale and is determined taking into account marketability, obsolescence and development in the expected selling price.Handelsvarer måles til kostpris, hvilket omfat­ter købs­pris med til­læg af hjem­ta­gel­ses­om­kost­nin­ger og andre omkost­nin­ger direk­te for­bun­det med købet. Goods for resale are measured at cost, which comprises the cost of acquisition plus delivery costs as well as other expenses directly attributable to the acquisition. Virksomheden har valgt IAS 39 som fortolk­nings­bidrag for nedskrivninger af finansielle til­gode­ha­ven­der. The Company has chosen IAS 39 as interpretation for impairment write-down of financial receivables.Tilgodehavender måles til amortiseret kostpris. Receivables are measured at amortised cost.Der fore­ta­ges ned­skriv­ning til imø­de­gå­el­se af tab, hvor der vur­de­res at være ind­truf­fet en objek­tiv indi­ka­ti­on på, at et til­go­de­ha­ven­de eller en por­te­føl­je af til­go­de­ha­ven­der er vær­di­for­rin­get. Hvis der fore­lig­ger en objek­tiv indi­ka­ti­on på, at et indi­vi­du­elt til­go­de­ha­ven­de er vær­di­for­rin­get, fore­ta­ges ned­skriv­ning på indi­vi­du­elt nive­au. An impairment loss is recognised if there is objective evidence that a receivable or a group of receivables is impaired. If there is objective evidence that an individual receivable has been impaired, an impairment loss is recognised on an individual basis.Ned­skriv­nin­ger opgø­res som for­skel­len mel­lem den regn­skabs­mæs­sige vær­di af til­go­de­ha­ven­der og nutids­vær­di­en af de for­ven­te­de pen­ge­strøm­me, her­un­der rea­li­sa­ti­ons­vær­di af even­tu­el­le mod­tag­ne sik­ker­heds­stil­lel­ser. Som dis­kon­te­rings­sats anven­des den effek­ti­ve ren­te for det enkel­te til­go­de­ha­ven­de eller por­te­føl­je. Impairment losses are calculated as the difference between the carrying amount of the receivables and the present value of the expected cash flows, including the realisable value of any collateral received. The effective interest rate for the individual receivable or portfolio is used as discount rate. Periodeafgrænsningsposter, indregnet under akti­ver, omfat­ter for­ud­be­tal­te omkost­nin­ger ved­rø­ren­de efter­føl­gen­de regn­skabs­år. Prepayments recognised under "Assets" comprise prepaid expenses regarding subsequent financial reporting years. Reserve for nettoopskrivning efter den indre værdis metode  Reserve for net revaluation according to the equity method Reserven omfatter nettoopskrivning af kapitalandele i dattervirksomheder i forhold til kost­pris. The reserve comprises net revaluations of investments in subsidiaries compared to the cost price.Reserve for valutakursreguleringer Translation reserveReserve for valutakursreguleringer omfatter andel af valuta­kurs­dif­fer­en­cer, opstået ved om­reg­ning af regn­ska­ber for en­he­der med en an­den funk­tio­nel valuta end dan­ske kro­ner, kurs­re­gu­le­ring­er ved­rør­ende ak­ti­ver og for­plig­tel­ser, der ud­gør en del af virksomhedens netto­in­ves­te­rin­ger i så­dan­ne en­hed­er, og kurs­re­gu­le­ring­er ved­rør­ende sik­rings­trans­ak­tio­ner, der va­lu­ta­kurs­sik­rer virksomhedens netto­in­ves­te­ring­er i så­dan­ne en­hed­er. Re­ser­ven op­lø­ses ved af­hæn­del­se af uden­land­ske en­hed­er, eller hvis be­ting­el­ser­ne for ef­fek­tiv sik­ring ikke læng­ere er til stede. Når ka­pi­tal­an­de­le i til­knyt­tede- og asso­cie­rede virk­som­hed­er i moder­sel­ska­bets regn­skab er om­fat­tet af bin­dings­kra­vet i re­ser­ven for net­to­op­skriv­ning efter den indre vær­dis me­to­de, vil va­lu­ta­kurs­re­gu­le­ring­er i ste­det ind­gå i den­ne egen­ka­pi­tal­re­ser­ve. The translation reserve comprises the share of foreign exchange differences arising on translation of financial statements of entities that have a functional currency other than DKK, foreign exchange adjustments of assets and liabilities considered part of the Company's net investments in such entities and foreign exchange adjustments regarding hedging transactions that hedge the Company's net investments in such entities. The reserve is dissolved on the sale of foreign entities or if the conditions for effective hedging no longer exist. When equity investments in group entities and associates in the parent company financial statements are subject to the limitation requirement in the net revaluation reserve according to the equity method, foreign exchange adjustments will be included in this equity reserve instead.Reserve for sikringstrans­aktioner Hedging reserveReserve for sikringstransaktioner indeholder den akkumulerede nettoændring i dagsværdien af sik­rings­trans­ak­tio­ner, der op­fyl­der kri­te­ri­erne for sik­ring af frem­ti­dige be­talings­strøm­me, og hvor den sik­rede trans­ak­tion end­nu ikke er rea­li­se­ret. Re­ser­ven op­lø­ses, når den sik­rede trans­ak­tion rea­li­se­res, hvis de sik­rede pen­ge­strøm­me ikke læng­ere for­ven­tes rea­li­se­ret, eller sik­rings­for­hol­det ikke læng­ere er ef­fek­tivt. Re­ser­ven re­præ­sen­te­rer ikke en sel­skabs­ret­lig bin­ding og kan der­for ud­gøre et ne­ga­tivt b­eløb. The hedging reserve comprises the cumulative net change in the fair value of hedging transactions that qualify for recognition as a cash flow hedge and where the hedged transaction has not yet been realised. The reserve is dissolved when the hedged transaction is realised, if the hedged cash flows are no longer expected to be realised or if the hedging relationship is no longer effective. The reserve does not represent a limitation under company law and may therefore be negative.Foreslået udbytte Proposed dividendsForeslået udbytte indregnes som en forpligtelse på tids­punk­tet for ved­ta­gel­se på den ordi­næ­re gene­ral­for­sam­ling (dekla­re­rings­tids­punk­tet). Udbyt­te, som for­ven­tes udbe­talt for året, vises som en sær­skilt post under egen­ka­pi­ta­len. Dividend proposed for the year is recognised as a liability once adopted at the annual general meeting (declaration date). Dividends expected to be distributed for the financial year are presented as a separate item under "Equity". Foreslået udbytte indregnes som en forpligtelse på tids­punk­tet for ved­ta­gel­se på den ordi­næ­re gene­ral­for­sam­ling (dekla­re­rings­tids­punk­tet). Udbyt­te, som for­ven­tes udbe­talt for året, vises som en sær­skilt post under egen­ka­pi­ta­len. Dividend proposed for the year is recognised as a liability once adopted at the annual general meeting (declaration date). Dividends expected to be distributed for the financial year are presented as a separate item under "Equity". Hensatte forpligtelser omfatter forventede om­kost­nin­ger til garantiforpligtelser. Hensatte for­plig­tel­ser ind­regnes, når virksomheden, som følge af en tid­ligere begivenhed på ba­lance­dagen har en retlig eller faktisk forpligtelse, og det er sandsynligt, at indfri­el­se af for­pligtelsen vil med­fø­re en afgang af økonomi­ske res­sourcer. Provisions comprise expected expenses relating to guarantee commitments. Provisions are recognised when the company has a legal or constructive obigation as a result of a past event at the balance sheet date and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation.Hen­sat­te for­plig­tel­ser måles til net­to­rea­li­sa­ti­ons­vær­di eller til dags­vær­di, hvor opfyl­del­se af for­plig­tel­sen tids­mæs­sigt for­ven­tes at lig­ge langt ude i frem­ti­den. Provisions are measured at net realisable value or at fair value if the obligation is expected to be settled far into the future. Aktu­el­le skat­te­for­plig­tel­ser og til­go­de­ha­ven­de aktu­el skat ind­reg­nes i balan­cen som bereg­net skat af årets skat­te­plig­ti­ge ind­komst, regu­le­ret for skat af tid­li­ge­re års skat­te­plig­ti­ge ind­kom­ster samt betal­te acon­to­skat­ter. Current tax payables and receivables are recognised in the balance sheet as the estimated income tax charge for the year, adjusted for prior-year taxes and tax paid on account.Udskudt skat måles efter den balan­ce­ori­en­te­re­de gælds­me­to­de af alle mid­ler­ti­di­ge for­skel­le mel­lem regn­skabs­mæs­sig og skat­te­mæs­sig vær­di af akti­ver og for­plig­tel­ser. Der ind­reg­nes dog ikke udskudt skat af mid­ler­ti­di­ge for­skel­le ved­rør­en­de skat­te­mæs­sigt ikke-afskriv­nings­be­ret­ti­get good­will og kon­tor­ejen­dom­me samt andre pos­ter, hvor mid­ler­ti­di­ge for­skel­le bort­set fra virk­som­heds­over­ta­gel­ser er opstå­et på anskaf­fel­ses­tids­punk­tet uden at have ind­virk­ning på resul­tat eller skat­te­plig­tig ind­komst. I de til­fæl­de, hvor opgø­rel­se af skat­te­vær­di­en kan fore­ta­ges efter for­skel­li­ge beskat­nings­reg­ler, måles udskudt skat på grund­lag af den af ledel­sen plan­lag­te anven­del­se af akti­vet, hen­holds­vis afvik­ling af for­plig­tel­sen. Deferred tax is measured according to the liability method on all temporary differences between the carrying amount and the tax base of assets and liabilities. However, deferred tax is not recognised on temporary differences relating to goodwill which is not deductible for tax purposes and on office premises and other items where temporary differences, apart from business combinations, arise at the date of acquisition without affecting either profit/loss for the year or taxable income. Where alternative tax rules can be applied to determine the tax base, deferred tax is measured based on Management's intended use of the asset or settlement of the liability, respectively.Ud­skudt skat måles på grund­lag af de skat­te­reg­ler og skat­te­sat­ser, der med balan­ce­da­gens lov­giv­ning vil væ­re gæl­den­de, når den udskud­te skat for­ven­tes udløst som aktu­el skat. Udskud­te skat­te­ak­ti­ver ind­reg­nes med den vær­di, som de for­ven­tes at bli­ve udnyt­tet med, enten ved udlig­ning i skat af frem­ti­dig ind­tje­ning eller ved mod­reg­ning i udskud­te skat­te­for­plig­tel­ser inden for sam­me juris­dik­tion. Ændring i udskudt skat som føl­ge af ændrin­ger i skat­te­sat­ser ind­reg­nes i resul­tat­op­gø­rel­sen. Deferred tax is measured according to the tax rules and at the tax rates applicable at the balance sheet date when the deferred tax is expected to crystallise as current tax. Deferred tax assets are recognised at the expected value of their utilisation; either as a set-off against tax on future income or as a set-off against deferred tax liabilities in the same legal tax entity. Changes in deferred tax due to changes in the tax rate are recognised in the income statement. Virksomheden har valgt IAS 39 som for­tolk­nings­bidrag til indregning og måling af gælds­for­plig­tel­ser. The Company has chosen IAS 39 as interpretation for liabilities. Øvri­ge gælds­for­plig­tel­ser måles til netto­rea­li­sa­ti­ons­vær­di­en. Other liabilities are measured at net realisable value. Leasingforpligtelser Lease liabilitiesLeasingforpligtelser måles til nutidsværdien af de reste­ren­de lea­sing­ydel­ser inkl. en even­tu­el garan­te­ret rest­vær­di base­ret på de enkel­te lea­sing­kon­trak­ters inter­ne ren­te. Lease liabilities are measured at the net present value of the remaining lease payments including any guaranteed residual value based on the interest rate implicit in the lease. Pengestrømsopgørelsen viser koncernens pen­ge­strøm­me for året fordelt på drifts-, investerings- og fi­nansie­ringsaktivitet, årets forskydning i likvider samt koncernens likvider ved årets begyndelse og slutning. The cash flow statement shows the Group's net cash flows, broken down by operating, investing and financing activities, the year's changes in cash and cash equivalents and the Group's cash and cash equivalents at the beginning and the end of the year.Pen­ge­strøm­me fra drifts­ak­ti­vi­tet opgø­res som årets resul­tat regu­le­ret for ikke-kon­tan­te drifts­pos­ter, ændring i drifts­ka­pi­tal og betalt sel­skabs­skat. Cash flows from operating activities are calculated as the profit/loss for the year adjusted for non cash operating items, changes in working capital and paid corporate income tax.Pen­ge­strøm­me fra inve­ste­rings­ak­ti­vi­tet omfat­ter beta­ling i for­bin­del­se med køb og salg af virk­som­he­der og akti­vi­te­ter samt  køb og salg af imma­te­ri­el­le, mate­ri­el­le og finan­si­el­le akti­ver. Cash flows from investing activities comprise payments in connection with acquisitions and disposals of entities and activities and of intangible assets, property, plant and equipment and investments.Pen­ge­strøm­me fra finan­sie­rings­ak­ti­vi­tet omfat­ter ændrin­ger i stør­rel­se eller sam­men­sæt­ning af virk­som­he­dens sel­skabs­ka­pi­tal og omkost­nin­ger for­bun­det her­med samt opta­gel­se af lån, afdrag på ren­te­bæ­ren­de gæld og beta­ling af udbyt­te til sel­skabs­del­ta­ge­re. Cash flows from financing activities comprise changes in the size or composition of the Company's share capital and related expenses as well as raising of loans, repayment of interest bearing debt and payment of dividends to shareholders. Likvider omfatter likvide beholdninger og kortfristet bankgæld. Cash and cash equivalents comprise cash. De i hoved- og nøgletalsoversigten anførte nøgle­tal er bereg­net såle­des: The financial ratios stated under "Financial highlights" have been calculated as follows: Resultat af primær driftOperating profit/lossResultat før finansielle poster +/- andre driftsindtægter og andre driftsomkostningerProfit/loss before net financials +/- Other operating income and other operating expensesLikviditetsgradCurrent ratioOmsætningsaktiver x 100Kortfristet gældCurrent assets x 100Current liabilitiesSoliditetsgradEquity ratioEgenkapital ultimo x 100Passiver i alt, ultimoEquity at year-end x 100Total equity and liabilities, year-endEgenkapitalforrentningReturn on equityÅrets resultat efter skat x 100Gennemsnitlig egenkapitalProfit/loss after tax x 100Average equityAfkastningsgradReturn on assetsResultat af primær drift x 100Gennemsnitlige operative aktiverOperating profit x 100Average operating assets Der er ikke efter balancedagen indtruffet begivenheder af væsentlig betydning for koncernens finansielle stilling. No events materially affecting the Group's financial position have occurred subsequent to the financial year-end. Der er ikke efter balancedagen indtruffet begivenheder af væsentlig betydning for virksomhedens finansielle stilling. No events materially affecting the Company's financial position have occurred subsequent to the financial year-end. 53992771 47975986 14536281 12896048 3357174 3140304 1710641 1481374 6061206 6036762 204621 175121 1163929 678226 408221 362203 64575080 57831278 16859764 14914746 84 76 25 22 Vederlag til koncernens ledelse udgør samlet 2.328 t.kr. (2024: 2.174 t.kr.). Total remuneration to group management: DKK 2,328 thousand (2024: DKK 2,174 thousand). Vederlag til moderselskabets ledelse udgør samlet 521 t.kr. (2024: 492 t.kr.). Total remuneration to management: DKK 521 thousand (2024: DKK 492 thousand). 94328 67365 88540 37559 3642684 3457774 1937212 1877230 3737012 3525139 2025752 1914789 0 0 56169 63082 555001 1068850 115659 740025 4853200 4818040 3771587 3969254 -63038 329771 -39295 109029 4 -1 0 0 -439858 60967 -439858 60967 4571000 4800000 3106501 -733803 8493524 12926756 2787504 1378 2788882 2368501 1371 94328 2464200 324682 1632861 1632861 1219676 88540 1308216 324645 38792628 16712188 0 0 13700 0 0 612260 0 0 2549681 697969 0 1571939 0 38792628 18315890 697969 1988988 8338796 0 0 6540 0 0 211662 0 1187191 2440562 0 0 762124 0 3176179 10235436 0 35616449 8080454 697969 38792628 5224560 0 439315 0 -304689 38792628 5968564 1988988 2856985 1187191 750021 0 -304689 3176179 3911695 35616449 2056869 22380 27 52903 75310 75310 14053681 7565655 21619336 16580954 45186 3106501 41351977 Fuji Packaging GmbH Hamborg 100 19695335 2172487 Fuji Packaging Benelux B.V. Lelystad 100 17055002 3906661 Fuji Packaging Machines SAS Goussainville 100 3876607 -3243712 FP Real Estate B.V. Lelystad 100 725033 -21857 Af de samlede tilgodehavender forfalder tilgodehaven­der fra salg og tjenesteydelser med 123 t.kr. senere end 1 år fra balance­dagen. Out of the group's total receivables, trade receivables totalling DKK 123 thousand fall due for payment after more than one year after the balance sheet date. Periodeafgrænsningsposter omfatter periodisering af omkostninger, der først vedrører efterfølgende år, herunder messeomkostninger og forsikring m.v. Prepayments include accrual of expenses relating to subsequent financial years, including fair costs and insurance etc. 1 1 30000 30000 1 1 70000 70000 4 4 400000 400000 1 1 500000 500000 1 1 1000 0 -428051 -757252 -50836 -159865 Hensættelse til udskudt skat vedrører væsentligst tids­mæssige forskelle på immaterielle og materielle an­lægsaktiver. The provision for deferred tax primarily relates to timing differences in respect of intangible assets and property, plant and equipment. Andre hensatte forpligtelser omfatter garanti­hen­sæt­tel­ser. Garantihensættelser udgør for­ven­te­de ga­ran­ti­omkostninger i henhold til sædvanlige ga­ran­ti­for­plig­tel­ser ved salg af varer. Forpligtelsen for­ven­tes af­vik­let løbende over garantiperioden på 2 år. Other provisions comprise provisions for warranty commitments. Warranty provisions relate to expected warranty expenses in accordance with usual guarantee commitments applicable to the sale of goods. The obligation is expected to be settled over the warranty period, which is two years. Hensættelse til udskudt skat vedrører væsentligst tids­mæssige forskelle på immaterielle og materielle an­lægsaktiver. The provision for deferred tax primarily relates to timing differences in respect of intangible assets and property, plant and equipment. Andre hensatte forpligtelser omfatter garanti­hen­sæt­tel­ser. Garantihensættelser udgør for­ven­te­de ga­ran­ti­omkostninger i henhold til sædvanlige ga­ran­ti­for­plig­tel­ser ved salg af varer. Forpligtelsen for­ven­tes af­vik­let løbende over garantiperioden på 2 år. Other provisions comprise provisions for warranty commitments. Warranty provisions relate to expected warranty expenses in accordance with usual guarantee commitments applicable to the sale of goods. The obligation is expected to be settled over the warranty period, which is two years. KoncernGroup Koncernen har indgået lejekontrakt vedrørende lokaler med et opsigelsesvarsel på op til 18 måneder. Den årlige leje andrager 1.258 t.kr. The Group has made rent agreements with a period of notice of up to 18 months. The annual rent amounts to DKK 1,258 thousand. Koncernen har indgået operationelle leasingkontrakter med en gennemsnitlig årlig leasingydelse på 1.116 t.kr. Leasingkontrakterne har restløbetider på op til 46 måneder med en samlet restleasingydelse på 2.568 t.kr. The Group has entered into operating leases with an average annual lease payment of DKK 1,116 thousand. The term to maturity of the leases is up to 46 months, and the residual liability accounts for DKK 2,568 thousand. Koncernen stillet bankgarantier på 29.577 t.kr. overfor kunder. Den samlede regn­skabsmæssige værdi af aktiverne, hvori der er stillet sikkerhed, udgør 18.457 t.kr. The Group has also provided bank guarantees towards customer worth a total of DKK 29,577 thousand. The total carrying amount of assets having been put us as security is DKK 18,457 thousand. Modervirksomheden har ikke stillet pant eller anden sikker­hed i aktiver pr. 31. december 2025. The parent Company has not provided any security or other collateral in assets at 31 December 2025. Bestemmende indflydelseParties exercising control Nærtstående partRelated partyBopæl/HjemstedDomicileGrundlag for  bestemmende indflydelseBasis for control FUJI Machinery Co., Ltd.FUJI Machinery Co., Ltd.Aichi, JapanAichi, JapanModervirksomhedPrincipal shareholder Transaktioner med nærtstående parterRelated party transactions DKK20252024KoncernGroup Gæld til Formost Packaging Machines Inc.Payables to Formost Packaging Machines Inc.146.923 69.881 Gæld til FUJI Machinery Co., Ltd.Payables to FUJI Machinery Co. Ltd.19.224.864 15.067.190 Gæld til Fuji Packaging Machines SASPayables to Fuji Packaging Machines SAS0 2.459.832 Kapitalforhøjelse fra FUJI Machinery Co., Ltd.Capital increase from FUJI Machinery Co., Ltd.6.818.914 0 Køb af varerCost of goods bought95.568.515 93.980.634 Salg af varer og tjenesteydelserSales of goods and services3.171.458 1.340.691 ModervirksomhedParent Company Gæld til FUJI Machinery Co., Ltd.Payables to FUJI Machinery Co., Ltd.6.790.968 9.441.672 Gæld til FUJI PACKAGING GmbHPayables to FUJI PACKAGING GmbH8.334.120 0 Gæld til FUJI PACKAGING BENELUX B.V.Payables to  FUJI PACKAGING BENELUX B.V.245.737 0 Gæld til Fuji Packaging Machines SASPayables to Fuji Packaging Machines SAS893.745 979.439 Kapitalforhøjelse fra FUJI Machinery Co., Ltd.Capital increase from FUJI Machinery Co., Ltd.6.818.914 0 Ikke indbetalt selskabskapital hos FP Real Estate B.V.Non-paid-in capital, FP Real Estate B.V.746.741 0 Tilgodehavende hos FUJI Packaging GmbHReceivables from FUJI Packaging GmbH0 11.313.604 Tilgodehaveder hos FUJI PACKAGING BENELUX B.V.Receivables from FUJI PACKAGING BENELUX B.V.2.457.373 1.296.868 Tilgodehavender hos FP Real Estate B.V.Receivables from FP Real Estate B.V.621.428 0 Køb af dattervirksomhed, Fuji Packaging Machines SASInvestment in group entities, Fuji Packaging Machines SAS6.818.914 0 Salg af varer og tjenesteydelser samt udlejning af maskinerSales of goods and services99.053.329 107.779.943 Køb af varer og tjenesteydelserCost of goods bought75.926.025 80.749.660 Modtaget management fee for ledelse og administrationReceived management fee75.460 70.613 Betalt management fee for ledelse og administrationPaid management fee430.503 403.094 RenteindtægterInterest income56.169 63.082 Bestemmende indflydelseParties exercising control Nærtstående partRelated partyBopæl/HjemstedDomicileGrundlag for  bestemmende indflydelseBasis for control FUJI Machinery Co., Ltd.FUJI Machinery Co., Ltd.Aichi, JapanAichi, JapanModervirksomhedPrincipal shareholder FUJI PACKAGING GmbHFUJI PACKAGING GmbHHamborg, TysklandHamburg, GermanyDattervirksomhedWholly-owned subsidiary FUJI PACKAGING BENELUX B.V.FUJI PACKAGING BENELUX B.V.Lelystad, HollandLelystad, NetherlandDattervirksomhedWholly-owned subsidiary Fuji Packaging Machines SASFuji Packaging Machines SASGoussainville, FrankrigGoussainville, FranceDattervirksomhedWholly-owned subsidiary FP Real Estate B.V.FP Real Estate B.V.Lelystad, HollandLelystad, NetherlandDattervirksomhedWholly-owned subsidiary Oplysninger om ledelsesvederlagInformation about remuneration to Management Oplysninger om vederlag til ledelsen fremgår af note 3, personaleomkostninger. Information about remuneration to Management appears from note 3, "Staff costs". Oplysninger om sikkerhedsstillelse for tilknyttede virksomhederInformation about security for loans relating to group entities Oplysning om sikkerhedsstillelser for dattervirk­somheder fremgår af note 18, pantsætninger og sikkerhedsstillelser. Information about security for loans relating to group entities appears from 18, "Security and collateral". 3737012 3525135 -66232 -22197 4853200 4818040 -63038 329771 -400598 0 16277570 -3373385 6194867 -13684091 396839 3892864 14384727 -1125155 400598 0 1309380 0 5415650 0 6400160 0 5927423 0 779444 0