Årsrapport 30700228 EY Godkendt Revisionspartnerselskab Dirch Passers Allé 36 Postboks 250, 2000 Frederiksberg 2023-01-01 2023-12-31 2022-01-01 2022-12-31 70603810 MOCON Europe A/S Rønnedevej 18 4100 Ringsted 1983-11-07 Ringsted 57660088 www.dansensor.com EY Godkendt Revisionspartnerselskab 30700228 Dirch Passers Allé 36 2000 Frederiksberg 2024-05-07 Camilla C. Collet Regnskabsklasse C, mellemstor virksomhed Revisionspåtegning Grundlag for konklusion Konklusion true 2024-05-07 2024-05-07 CaseWare Working Papers Copenhagen Phillip Vee Tan Joel Frie Chairman Henrik Allan Olsen Phillip Vee Tan Steen Helt Hansen Kenneth Weber Copenhagen Kennet Hartmann Lars Andersen State Authorised Public Accountant mne40036 State Authorised Public Accountant mne50629 43189000 28390000 18462000 6920000 36543000 5734000 3247000 3568000 40555000 26567000 18001000 154380000 147277000 137861000 123408000 120103000 117336000 10.6 13.2 28.6 19.9 14.2 91.2 88 79.9 81.5 85.1 12.7 37 33.3 22.4 16.6 94657000 95412000 15403000 16340000 56632000 55491000 22622000 23581000 4603000 2724000 0 35283000 3252000 600000 935000 2064000 29542000 60124000 5294000 4113000 24248000 56011000 714000 1179000 714000 1179000 968000 1398000 1508000 613000 1148000 1315000 3624000 3326000 16240000 11609000 79771000 79771000 334000 329000 96345000 91709000 100683000 96214000 25607000 30887000 2955000 3536000 3684000 3370000 32246000 37793000 11719000 15401000 45202000 12812000 1210000 716000 3713000 733000 936000 1194000 557000 2784000 63337000 33640000 27086000 36219000 122669000 107652000 223352000 203866000 27792000 27792000 12528000 7897000 0 0 163375000 143730000 203695000 179419000 180000 215000 180000 215000 8344000 10396000 3120000 6143000 8013000 7693000 19477000 24232000 19477000 24232000 223352000 203866000 27792000 9716000 1245000 84655000 2724000 -1245000 54532000 0 -4543000 4543000 27792000 7897000 0 143730000 4603000 0 19645000 0 -28000 0 27792000 12528000 0 163375000 460000 0 2167000 592000 625000 8000 809000 1801000 126000 263000 5787000 4267000 -493000 -154000 4603000 2724000 0 -1245000 19645000 54532000 14959000 8000 14951000 13780000 465000 -8000 14237000 714000 9212000 6528000 1315000 48000 0 1161000 447000 298000 0 0 1328000 -1328000 8813000 7558000 1148000 7814000 5915000 0 478000 433000 0 -447000 -298000 0 7845000 6050000 0 968000 1508000 1148000 3711000 79771000 329000 0 0 5000 3711000 79771000 334000 7898000 0 0 28000 0 0 4603000 12529000 0 0 16240000 79771000 334000 Dansensor Espania S.L, Spain 100 17481 5571 Ametek SAS, France Ametek GmbH, Germany Ametek Italy S.r.l., Italy -716000 -562000 44059000 43514000 4111000 4497000 790000 762000 48960000 48773000 48960000 48773000 59 64 Today, the Board of Directors and the Executive Board have discussed and approved the annual report of MOCON Europe A/S for the financial year 1 January - 31 December 2023. The annual report is prepared in accordance with the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the financial position of the Company at 31 December 2023 and of the results of the Company's operations for the financial year 1 January - 31 December 2023. Further, in our opinion, the Management's review gives a fair review of the matters discussed in the Management's review. We recommend that the annual report be approved at the annual general meeting. To the shareholders of MOCON Europe A/S We have audited the financial statements of MOCON Europe A/S for the financial year 1 January - 31 December 2023, which comprise income statement, balance sheet, statement of changes in equity and notes, including accounting policies. The financial statements are prepared in accordance with the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the financial position of the Company at 31 December 2023 and of the results of the Company's operations for the financial year 1 January - 31 December 2023 in accordance with the Danish Financial Statements Act. We conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the "Auditor's responsibilities for the audit of the financial statements" section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Independence 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. Management is responsible for the preparation of financial statements that give a true and fair view in accordance with the Danish Financial Statements Act and for such internal control as Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, Management is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting in preparing the financial statements unless Management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. Our objectives are to obtain reasonable assurance 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. 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: 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. 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. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management. 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. 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. 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. Management is responsible for the Management's review. Our opinion on the financial statements does not cover the Management's review, and we do not express any form of assurance conclusion thereon. 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. Moreover, it is our responsibility to consider whether the Management's review provides the information required under the Danish Financial Statements Act. 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 Statement Act. We did not identify any material misstatement of the Management's review. For terms and definitions, please see the accounting policies. The main activity of MOCON Europe A/S is development, manufacturing and sale of quality assurance and quality control equipment mainly for the food and health care industry. MOCON Europe A/S operates directly from sales&service points out of Denmark, China, United States, France, Germany, Italy and Spain. The activities on the remaining core markets are managed by distributors and through sales via Original Equipment Manufacturers (OEM). MOCON Europe A/S is part of the AMETEK Inc, a leading global manufacturer of electronic instruments and electromechanical devices with annualized sales of more than $6.5 billion. The income statement for 2023 shows a profit of DKK 24,248 thousand against a profit of DKK 56,011 thousand last year, and the balance sheet at 31 December 2023 shows equity of DKK 203,695 thousand. We have had a challenging 2023 due to supply chain constraints and increased purchasing expenses for especially micro-processors. Sales was below expectations in our Partner Channel and in Germany. As a result, our operating profit of DKK 22,622 thousand was below expectations. In 2023 the gross profit resulted in 94,657 thousand against 95,412 thousand in 2022. Capital resources The company is firmly based. The equity amounts to 203,695 thousand, equal to an equity ratio of 91.2%. The cash resources of the company at year end amount to 27,086 thousand. In order to secure continuous growth, MOCON Europe A/S must maintain the ability to attract and keep highly educated staff, primarily within management, technology development, production and marketing. In order to secure a high and competitive quality, the Company applies outsourcing to a great extent. Thus MOCON Europe A/S has current access to the newest technology without binding own resources in plant and equipment. General risk The growth potential of MOCON Europe A/s is dependent on a strong positioning on the focus markets in the EU, North America, and South East Asia. Furthermore, it is essential for the Company to keep fully updated on the technological development within sensor technology and associated applications. Financial risks To some extent the group is exposed to fluctuations in foreign currency rate and MOCON Europe A/S not entering into hedges and other financial instruments. Foreign Currency Risks The Company is exposed to general foreign currency risks in respect of the current operation, however primarily related to USD. Sales as well as purchasing are carried out in EURO, USD and DKK. Credit Risks The Company is not exposed to material risk in respect of individual customers or collaborators. The Company's credit policy demands current credit rating of all major customers and collaborators. The direct environmental effects from the daily operation are limited to very small quantities, primarily dissolutions, which are disposed of in compliance with the Danish legislation. Optimisation of energy consumption and indoor climate is a current focus area. MOCON Europe is not obliged to submit an environmental report, but is constantly aware of the values of such. In the financial year, MOCON Europe A/S has invested 13,766 thousand in development costs compared to 14,663 thousand in 2022. The reduction is due to reduced management expenses. No events materially affecting the Company's financial position have occurred after the financial year end. We have had a strong start to 2024 due to the global Supply Chain situation is beginning to stabilize and with reduced salary expenses due to Organization change in August 2023 we see strong earnings. We therefore expect to deliver a 2024 Profit of DKK 40,000 - 50,000 thousand. The share capital consists of DKK 27,792,000 shares at a nominal value of DKK 27,792,000. No shares carry any special rights. The annual report of MOCON Europe A/S for 2023 has been prepared in accordance with the provisions in the Danish Financial Statements Act applying to medium-sized reporting class C entities. In accordance with section 112(2) of the Danish Financial Statements Act, the Company has not prepared consolidated financial statements. The Financial statements of MOCON Europe A/S has not prepared consolidated financial statemens of the MOCON Europe A/S and subsidiaries are included in the consolidated financial statements of Ametek Inc. USA. The accounting policies used in the preparation of the financial statements are consistent with those of last year. 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 for the Parent Company, Ametek Inc., USA. Reporting currency The financial statements are presented in Danish kroner (DKK'000). 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. 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. The Company has chosen IAS 11/IAS 18 as interpretation for revenue recognition. Income from the sale of goods for resale and finished goods, is recognised in revenue when the most significant rewards and risks have been transferred to the buyer and provided the income can be measured reliably and payment is expected to be received. The date of the transfer of the most significant rewards and risks is based on standardised terms of delivery based on Incoterms® 2010. Income from the rendering of services is recognised as revenue as the services are rendered. Accordingly, revenue corresponds to the market value of the services rendered during the year (percentage-of-completion method). The items revenue, production costs and other operating income have been aggregated into one item in the income statement called gross profit in accordance with section 32 of the Danish Financial Statements Act. Production costs comprise costs incurred in generating the revenue for the year. Such costs include direct and indirect costs of raw materials, consumables and production staff, rent and leases, as well as depreciation on production plant. Production costs also comprise research and development costs that do not qualify for capitalisation and amortisation of capitalised development costs. Also, provision for losses on construction contracts is recognised. Distribution costs comprise costs related to the distribution of goods sold in the year and to sales campaigns, etc. carried out in the year, including costs related to sales staff, advertising, exhibitions and amortisation/depreciation. Sales and marketing costs are recognised in the income statement when the Company obtains control of the sales or marketing product. Administrative expenses include expenses incurred in the year for company management and administration, including expenses relating to administrative staff, Management, office premises, recharge cost, royalty fee and expenses as well as amortisation/depreciation of assets used for administrative purposes. Other operating income comprise items of a secondary nature relative to the Company's core activities, including gains on the sale of fixed assets. The item comprises amortisation/depreciation of intangible assets and property, plant and equipment. The basis of amortisation, which is calculated as cost less any residual value, is amortised on a straight line basis over the expected useful life. The expected useful lives of the assets are as follows: Software 5 years Other plant, fixtures and fittings, tools and equipment 3-5 years Intangible assets and property, plant and equipment are impaired in accordance with the accounting policies referred to in the ‘Impaiment losses on fixed assets’ section. Depreciation is based on the residual value of the asset and is reduced by impairment losses, if any. The depreciation period and the residual value are determined at the acquisition date and are reassessed annually. Where the residual value exceeds the carrying amount of the asset, no further depreciation charges are recognised. In the case of changes in the depreciation period or the residual value, the effect on the depreciation charges is recognised prospectively as a change in accounting estimates. The income statement includes the proportional share of the underlying companies' profit or loss after elimination of internal profit/loss and after tax. In group entities, the full elimination of internal profit and loss is carried out without regard to ownership shares. In associates, only proportional elimination of profit and loss is carried out, taking into account ownership shares. Financial income and expenses are recognised in the income statements at the amounts that concern the financial year. Net financials include interest income and expenses as well as allowances and surcharges under the advance-payment-of-tax scheme, etc. 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. The Company and its Danish group entities are jointly taxed. The total Danish income tax charge is allocated between profit/loss-making Danish entities in proportion to their taxable income (full absorption). Jointly taxed entities entitled to a tax refund are reimbursed by the management company based on the rates applicable to interest allowances, and jointly taxed entities which have paid too little tax pay a surcharge according to the rates applicable to interest surcharges to the management company. Software is amortised using the straight-line method based on useful lives, which are stated in the ‘Depreciation, amortisation and impairment losses’ section. Gains and losses on the sale of intangible assets are recognised in the income statement under "Other operating income" or "Other operating expenses", respectively. Gains and losses are calculated as the difference between the selling price less selling expenses and the carrying amount at the time of sale. Property, plant and equipment 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. 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. The Company has chosen IAS 17 as interpretation for classification and recognition of leases. On initial recognition, leases for assets that transfer substantially all the risks and rewards incident to the ownership to the Company (finance leases) are measured in the balance sheet at the lower of fair value and the present value of the future lease payments. In calculating the net present value, the interest rate implicit in the lease or the incremental borrowing rate is used as the discount factor. Assets held under finance leases are subsequently accounted for in the same way as the Company's other assets. The capitalised residual lease liability is recognised in the balance sheet as a liability, and the interest element of the lease payment is recognised in the income statement over the term of the lease. Deposits Deposits relates to rental leases and are measured at cost. Deposits relates to rental leases and are measured at cost. Equity investments in group entities are measured according to the equity method. On initial recognition, equity investments in group entities are measured at cost, i.e. plus transaction costs. The cost is allocated in accordance with the acquisition method; see the accounting policies regarding business combinations. The cost is adjusted by shares of profit/loss after tax calculated in accordance with the Group's accounting policies less or plus unrealised intra-group gains/losses. Identified increases in value and goodwill, if any, compared to the underlying entity's net asset value are amortised in accordance with the accounting policies for the assets and liabilities to which they can be attributed. Negative goodwill is recognised in the income statement. Dividend received is deduced from the carrying amount. Equity investments in group entities measured at net asset value are subject to impairment test requirements if there is any indication of impairment. Other securities and investments consisting of unlisted shares. Investments not admitted to trading on an active market are measured at cost. The carrying amount of intangible assets, property, plant and equipment and investments are assessed for impairment on an annual basis. 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). 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. Previously recognised impairment losses are reversed when the reason for recognition no longer exists. 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. The cost of raw materials and consumables comprises the cost of acquisition plus delivery costs. The cost of finished goods and work in progress includes the cost of raw materials, consumables, direct labour and indirect production overheads. Indirect production overheads include the indirect cost of material and labour as well as maintenance and depreciation of production machinery, buildings and equipment and expenses relating to plant administration and management. Borrowing costs are not recognised in the sales price. The Company has chosen IAS 39 as interpretation for impairment write-down of financial receivables. Receivables are measured at amortised cost. 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. Receivables in respect of which there is no objective evidence of individual impairment are tested for objective evidence of impairment on a portfolio basis. The portfolios are primarily based on the debtors' domicile and credit ratings in line with the Company's risk management policy. The objective evidence applied to portfolios is determined based on historical loss experience. 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. Prepayments recognised under "Assets" comprise prepaid expenses regarding subsequent financial reporting years. Cash comprise cash and short term securities which are readily convertible into cash and subject onlyto minor risks of changes in value. Reserve for net revaluation according to the equity method The net revaluation reserve according to the equity method includes net revaluations of investments in group entities and associates relative to cost. The reserve can be eliminated in case of losses, realisation of investments or a change in accounting estimates. The reserve cannot be recognised at a negative amount. Provisions comprise anticipated expenses relating to warranty commitments, onerous contracts, restructurings, etc. Provisions are recognised when the Company has a legal or constructive obligation at the balance sheet date as a result of a past event and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation. Provisions are measured at net realisable value or at fair value if the obligation is expected to be settled far into the future. 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. 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. 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. Other payables Other payables are measured at net realisable value. Deferred income Deferred income recognised as a liability comprises payments received concerning income in subsequent financial reporting years. The financial ratios stated under "Financial highlights" have been calculated as follows: Operating profit/loss Profit/loss before net financials +/- Other operating income and other operating expenses Return on assets Profit/loss from operating activites x 100 Average assets Equity ratio Equity, year-end x 100 Total equity and liabilities, year-end Return on equity Profit/loss after tax x 100 Average equity No events materially affecting the Company's financial position have occured subsequent to the financial year end. Prepayments consist of prepaid expenses concerning rent, insurance premiums, subscriptions and interest. The Company's share capital has remained DKK 27,792 thousand in the past year. Tax assets consist of timing differences between carrying amount and taxable value for certain assets and liabilities and does not include taxable losses. It is managements assessment that the tax assets are utilized within 5 years. Staff costs are recognised as follows in the financial statements: DKK'000 2023 2022 Production costs 20,344 22,369 Distribution costs 15,403 16,340 Administrative expenses 13,213 10,064 48,960 48,773 Total remuneration to Board of Directors and Executive Board: DKK 2,354 thousand (2022: DKK 3,056 thousand). Total remuneration is diclosured combined for all Management categories with reference to section 98b(3), (i), of the Danish Financial Statements Act. Contingent liabilities MOCON Europe A/S is jointly taxed with its sister company, which acts as management company. The company has joint and several unlimited liability, together with the group companies, for all Danish income taxes and withholding taxes on dividend, interest and royalties within the group of jointly taxed entities. Any subsequent corrections of income subject to joint taxation and withholding taxes, etc. could entail an increase in the entities’ tax liability. The Group as a whole is not liable vis-à-vis any third parties. Lease commitments: The Company has concluded lease agreements with terms to maturity of 5 years and a total of DKK 530 thousand. Rent commitments: The Company has rent commitments in total of DKK 967 thousand. Parties exercising control Related party Domicile Basis for control MOCON Inc. 7500 Mendelssohn Ave North 55428 Minnesota,USA Participating interest AMETEK Inc. AMETEK, Inc. Corporate Headquarters 1100 Cassatt Road Berwyn, PA 19312  Ultimative parant company with controlling interest Information about consolidated financial statements Parent Domicile Requisitioning of the parent company's consolidated financial statements Ametek Inc. AMETEK, Inc.Corporate Headquarters1100 Cassatt Road Berwyn, PA 19312  https://www.ametek.com/ Related party transactions MOCON Europe A/S was engaged in the below related party transactions: DKK'000 2023 2022 Sales of goods to parent company 25,912 23,294 Sales of goods to subsidiaries 7,221 7,871 Sales of goods to affiliated group companies 55,836 56,864 Sales of services to other group companies 14,795 14,249 Sales of services to parent company 6 3 Receivables from subsidiaries 1,129 1,618 Receivables from affiliated group companies 7,251 7,770 Receivables from parent company 1,289 2,420 Receivables from other group entities 563 1,003 Payables to affiliated group companies 2,209 3,114 Payables to parent company 2,798 2,904 Payables to other group entities 123 125 70603810 2023-01-01 2023-12-31 70603810 2023-01-01 70603810 2022-12-31 70603810 2023-12-31 70603810 2022-01-01 70603810 2023-01-01 2023-12-31 1 70603810 2023-01-01 2023-12-31 2 70603810 2023-01-01 2023-12-31 3 70603810 2023-01-01 2023-12-31 4 70603810 2023-01-01 2023-12-31 5 70603810 2023-01-01 2023-12-31 1 70603810 2023-01-01 2023-12-31 2 70603810 2023-01-01 2023-12-31 1 70603810 2023-01-01 e:AcquiredIntangibleAssetsMember 70603810 2023-01-01 2023-12-31 e:AcquiredIntangibleAssetsMember 70603810 2023-12-31 e:AcquiredIntangibleAssetsMember 70603810 2023-01-01 e:OtherInvestmentsMember 70603810 2023-01-01 2023-12-31 e:OtherInvestmentsMember 70603810 2023-12-31 e:OtherInvestmentsMember 70603810 2023-12-31 e:ReceivablesFromOwnersAndManagementMember 70603810 2023-01-01 e:FixturesFittingsToolsAndEquipmentMember 70603810 2023-01-01 2023-12-31 e:FixturesFittingsToolsAndEquipmentMember 70603810 2023-12-31 e:FixturesFittingsToolsAndEquipmentMember 70603810 2023-01-01 e:LeaseholdImprovementsMember 70603810 2023-01-01 2023-12-31 e:LeaseholdImprovementsMember 70603810 2023-12-31 e:LeaseholdImprovementsMember 70603810 2023-01-01 e:PropertyPlantAndEquipmentInProgressMember 70603810 2023-01-01 2023-12-31 e:PropertyPlantAndEquipmentInProgressMember 70603810 2023-12-31 e:PropertyPlantAndEquipmentInProgressMember 70603810 2023-01-01 e:InvestmentsInGroupEnterprisesMember 70603810 2023-01-01 2023-12-31 e:InvestmentsInGroupEnterprisesMember 70603810 2023-12-31 e:InvestmentsInGroupEnterprisesMember 70603810 2022-01-01 e:ContributedCapitalMember 70603810 2022-01-01 2022-12-31 e:ContributedCapitalMember 70603810 2023-01-01 e:ContributedCapitalMember 70603810 2023-01-01 2023-12-31 e:ContributedCapitalMember 70603810 2023-12-31 e:ContributedCapitalMember 70603810 2023-01-01 e:ReserveForNetRevaluationAccordingToEquityMethodMember 70603810 2023-01-01 2023-12-31 e:ReserveForNetRevaluationAccordingToEquityMethodMember 70603810 2023-12-31 e:ReserveForNetRevaluationAccordingToEquityMethodMember 70603810 2022-01-01 e:ReserveForNetRevaluationAccordingToEquityMethodMember 70603810 2022-01-01 2022-12-31 e:ReserveForNetRevaluationAccordingToEquityMethodMember 70603810 2023-01-01 e:RetainedEarningsMember 70603810 2023-01-01 2023-12-31 e:RetainedEarningsMember 70603810 2023-12-31 e:RetainedEarningsMember 70603810 2022-01-01 e:RetainedEarningsMember 70603810 2022-01-01 2022-12-31 e:RetainedEarningsMember 70603810 2022-01-01 2022-12-31 70603810 2021-01-01 2021-12-31 70603810 2021-12-31 70603810 2020-01-01 2020-12-31 70603810 2020-12-31 70603810 2019-01-01 2019-12-31 70603810 2019-12-31 70603810 2023-01-01 2023-12-31 e:SubsidiaryMember 1 70603810 2023-12-31 e:SubsidiaryMember 1 70603810 2023-01-01 2023-12-31 e:PartnershipOrLimitedPartnershipEntitiesInWhichReportingEntityIsPartnerOrGeneralPartnerMember 1 70603810 2023-01-01 2023-12-31 e:PartnershipOrLimitedPartnershipEntitiesInWhichReportingEntityIsPartnerOrGeneralPartnerMember 2 70603810 2023-01-01 2023-12-31 e:PartnershipOrLimitedPartnershipEntitiesInWhichReportingEntityIsPartnerOrGeneralPartnerMember 3 70603810 2023-01-01 e:DepositsLongtermInvestmentsAndReceivablesMember 70603810 2023-01-01 2023-12-31 e:DepositsLongtermInvestmentsAndReceivablesMember 70603810 2023-12-31 e:DepositsLongtermInvestmentsAndReceivablesMember 70603810 2023-01-01 e:ReserveForDevelopmentExpenditureMember 70603810 2023-01-01 2023-12-31 e:ReserveForDevelopmentExpenditureMember 70603810 2023-12-31 e:ReserveForDevelopmentExpenditureMember 70603810 2022-01-01 e:ReserveForDevelopmentExpenditureMember 70603810 2022-01-01 2022-12-31 e:ReserveForDevelopmentExpenditureMember iso4217:DKK xbrli:pure