33749996 2021-01-01 2021-12-31 33749996 2021-01-01 2021-12-31 0 33749996 2021-01-01 2021-12-31 1 33749996 2021-01-01 2021-12-31 2 33749996 2021-01-01 2021-12-31 0 33749996 2021-01-01 2021-12-31 cmn:PreviousYearMember 33749996 2021-01-01 2021-12-31 cmn:TwoYearsAgoMember 33749996 2021-01-01 2021-12-31 cmn:ThreeYearsAgoMember 33749996 2021-01-01 2021-12-31 cmn:FourYearsAgoMember 33749996 2021-01-01 2021-12-31 0 33749996 2021-01-01 2021-12-31 cmn:PreviousYearMember 1 33749996 2021-01-01 2021-12-31 cmn:TwoYearsAgoMember 2 33749996 2021-01-01 2021-12-31 cmn:ThreeYearsAgoMember 3 33749996 2021-01-01 2021-12-31 cmn:FourYearsAgoMember 4 33749996 2021-01-01 2021-12-31 5 33749996 2021-01-01 2021-12-31 cmn:PreviousYearMember 6 33749996 2021-01-01 2021-12-31 cmn:TwoYearsAgoMember 7 33749996 2021-01-01 2021-12-31 cmn:ThreeYearsAgoMember 8 33749996 2021-01-01 2021-12-31 cmn:FourYearsAgoMember 9 33749996 2021-01-01 2021-12-31 10 33749996 2021-01-01 2021-12-31 cmn:PreviousYearMember 11 33749996 2021-01-01 2021-12-31 cmn:TwoYearsAgoMember 12 33749996 2021-01-01 2021-12-31 cmn:ThreeYearsAgoMember 13 33749996 2021-01-01 2021-12-31 cmn:FourYearsAgoMember 14 33749996 2021-01-01 2021-12-31 15 33749996 2021-01-01 2021-12-31 cmn:PreviousYearMember 16 33749996 2021-01-01 2021-12-31 cmn:TwoYearsAgoMember 17 33749996 2021-01-01 2021-12-31 cmn:ThreeYearsAgoMember 18 33749996 2021-01-01 2021-12-31 cmn:FourYearsAgoMember 19 33749996 2021-12-31 33749996 2021-12-31 cmn:PreviousYearMember 33749996 2021-12-31 cmn:TwoYearsAgoMember 33749996 2021-12-31 cmn:ThreeYearsAgoMember 33749996 2021-12-31 cmn:FourYearsAgoMember 33749996 2020-01-01 2020-12-31 33749996 2020-12-31 33749996 2021-01-01 2021-12-31 0 33749996 2020-01-01 2020-12-31 1 33749996 2021-01-01 2021-12-31 2 33749996 2020-01-01 2020-12-31 3 33749996 2021-01-01 2021-12-31 0 33749996 2020-01-01 2020-12-31 1 33749996 2021-01-01 33749996 2020-01-01 33749996 2021-01-01 2021-12-31 fsa:AllTypesOfRelationsNumberOfEmployeesMember 33749996 2020-01-01 2020-12-31 fsa:AllTypesOfRelationsNumberOfEmployeesMember 33749996 2021-01-01 2021-12-31 fsa:OtherStatutoryReservesMember 33749996 2020-01-01 2020-12-31 fsa:OtherStatutoryReservesMember 33749996 2021-01-01 2021-12-31 fsa:ProposedExtraordinaryDividendRecognisedInEquityMember 33749996 2020-01-01 2020-12-31 fsa:ProposedExtraordinaryDividendRecognisedInEquityMember 33749996 2021-01-01 2021-12-31 fsa:RetainedEarningsMember 33749996 2020-01-01 2020-12-31 fsa:RetainedEarningsMember 33749996 2021-01-01 2021-12-31 0 33749996 2021-01-01 2021-12-31 1 iso4217:EUR xbrli:pure 2021-01-01 2021-12-31 Clearhaus A/S P.O. Pedersens Vej 2 8200 Aarhus N 33749996 2011-05-27 Aarhus 2022-05-11 Søren Soltveit <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Statement by management</td></tr><tr><td colspan="1">Today the Board of Directors and Executive Board have discussed and approved</td></tr><tr><td colspan="1">the Annual Report of Clearhaus A/S for the financial year 1 January - 31 December</td></tr><tr><td colspan="1">2021</td></tr><tr><td colspan="1">The Annual Report is presented in accordance with the Danish Financial</td></tr><tr><td colspan="1">Statements Act.</td></tr><tr><td colspan="1">In our opinion the Financial Statements give a true and fair view of the Company's</td></tr><tr><td colspan="1">assets, liabilities and financial position at 31 December 2021 and of the results of</td></tr><tr><td colspan="1">the Company's operations and cash flows for the financial year 1 January - 31</td></tr><tr><td colspan="1">December 2021.</td></tr><tr><td colspan="1">The Management Commentary includes in our opinion a fair presentation of the</td></tr><tr><td colspan="1">matters dealt with in the Commentary.</td></tr><tr><td colspan="1">We recommend the Annual Report be approved at the Annual General Meeting.</td></tr></table> Aarhus 2022-05-06 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Independent auditor’s report</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Opinion</td></tr><tr><td colspan="1">We have audited the Financial Statements of Clearhaus A/S for</td></tr><tr><td colspan="1">the financial year 1 January - 31 December 2021, which comprise</td></tr><tr><td colspan="1">income statement, Balance Sheet, statement of changes in</td></tr><tr><td colspan="1">equity, cash flows, notes and a summary of significant</td></tr><tr><td colspan="1">accounting policies. The Financial Statements are prepared in</td></tr><tr><td colspan="1">accordance with the Danish Financial Statements Act.</td></tr><tr><td colspan="1">In our opinion, the Financial Statements give a true and fair view</td></tr><tr><td colspan="1">of the assets, liabilities and financial position of the Company at</td></tr><tr><td colspan="1">31 December 2021 and of the results of the Company's</td></tr><tr><td colspan="1">operations and cash flows for the financial year 1 January - 31</td></tr><tr><td colspan="1">December 2021 in accordance with the Danish Financial</td></tr><tr><td colspan="1">Statements Act.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Basis for Opinion</td></tr><tr><td colspan="1">We conducted our audit in accordance with International</td></tr><tr><td colspan="1">Standards on Auditing (ISAs) and the additional requirements</td></tr><tr><td colspan="1">applicable in Denmark. Our responsibilities under those</td></tr><tr><td colspan="1">standards and requirements are further described in the</td></tr><tr><td colspan="1">“Auditor’s Responsibilities for the Audit of the Financial</td></tr><tr><td colspan="1">Statements” section of our report. We are independent of the</td></tr><tr><td colspan="1">Company in accordance with the International Ethics Standards</td></tr><tr><td colspan="1">Board for Accountants’ Code of Ethics for Professional</td></tr><tr><td colspan="1">Accountants (IESBA Code) and the additional requirements</td></tr><tr><td colspan="1">applicable in Denmark, and we have fulfilled our other ethical</td></tr><tr><td colspan="1">responsibilities in accordance with these requirements. We</td></tr><tr><td colspan="1">believe that the evidence we have obtained is sufficient and</td></tr><tr><td colspan="1">appropriate to provide a basis for our conclusion.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Management's Responsibilities for the Financial Statements</td></tr><tr><td colspan="1">Management is responsible for the preparation of Financial</td></tr><tr><td colspan="1">Statements that give a true and fair view in accordance with the</td></tr><tr><td colspan="1">Danish Financial Statements Act and for such Internal control as</td></tr><tr><td colspan="1">Management determines necessary to enable the preparation of</td></tr><tr><td colspan="1">Financial Statements that are free from material misstatement,</td></tr><tr><td colspan="1">whether due to fraud or error.</td></tr><tr><td colspan="1">In preparing the Financial Statements, Management is</td></tr><tr><td colspan="1">responsible for assessing the Company's ability to continue as a</td></tr><tr><td colspan="1">going concern, disclosing, as applicable, matters related to going</td></tr><tr><td colspan="1">concern and using the going concern basis of accounting in</td></tr><tr><td colspan="1">preparing the Financial Statements unless Management either</td></tr><tr><td colspan="1">intends to liquidate the Company or to cease operations, or has</td></tr><tr><td colspan="1">no realistic alternative but to do so.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="2">Auditor’s Responsibilities for the Audit of the Financial Statements</td></tr><tr><td colspan="2">Our objectives are to obtain reasonable assurance about</td></tr><tr><td colspan="2">whether the Financial Statements as a whole are free from</td></tr><tr><td colspan="2">material misstatement, whether due to fraud or error, and to</td></tr><tr><td colspan="2">issue an auditor’s report that includes our opinion. Reasonable</td></tr><tr><td colspan="2">assurance is a high level of assurance, but is not a guarantee</td></tr><tr><td colspan="2">that an audit conducted in accordance with ISAs and the</td></tr><tr><td colspan="2">additional requirements applicable in Denmark will always</td></tr><tr><td colspan="2">detect a material misstatement when it exists. Misstatements</td></tr><tr><td colspan="2">can arise from fraud or error and are considered material if,</td></tr><tr><td colspan="2">individually or in the aggregate, they could reasonably be</td></tr><tr><td colspan="2">expected to influence the economic decisions of users taken on</td></tr><tr><td colspan="2">the basis of these Financial Statements.</td></tr><tr><td colspan="2">As part of an audit conducted in accordance with ISAs and the</td></tr><tr><td colspan="2">additional requirements applicable in Denmark, we exercise</td></tr><tr><td colspan="2">professional judgment and maintain professional skepticism</td></tr><tr><td colspan="2">throughout the audit. We also</td></tr><tr><td>•</td><td>Identify and assess the risks of material misstatement of</td></tr><tr><td /><td>the Financial Statements, whether due to fraud or error,</td></tr><tr><td /><td>design and perform audit procedures responsive to those</td></tr><tr><td /><td>risks, and obtain audit evidence that is sufficient and</td></tr><tr><td /><td>appropriate to provide a basis for our opinion. The risk of</td></tr><tr><td /><td>not detecting a material misstatement resulting from fraud</td></tr><tr><td /><td>is higher than for one resulting from error as fraud may</td></tr><tr><td /><td>involve collusion, forgery, intentional omissions,</td></tr><tr><td /><td>misrepresentations, or the override of internal control.</td></tr><tr><td>•</td><td>Obtain an understanding of internal control relevant to the</td></tr><tr><td /><td>audit in order to design audit procedures that are</td></tr><tr><td /><td>appropriate in the circumstances, but not for the purpose of</td></tr><tr><td /><td>expressing an opinion on the effectiveness of the</td></tr><tr><td /><td>Company's internal control.</td></tr><tr><td>•</td><td>Evaluate the appropriateness of accounting policies used</td></tr><tr><td /><td>and the reasonableness of accounting estimates and</td></tr><tr><td /><td>related disclosures made by Management.</td></tr><tr><td>•</td><td>Conclude on the appropriateness of Management’s use of</td></tr><tr><td /><td>the going concern basis of accounting in preparing the</td></tr><tr><td /><td>Financial Statements and, based on the audit evidence</td></tr><tr><td /><td>obtained, whether a material uncertainty exists related to</td></tr><tr><td /><td>events or conditions that may cast significant doubt on the</td></tr><tr><td /><td>Company's ability to continue as a going concern. If we</td></tr><tr><td /><td>conclude that a material uncertainty exists, we are required</td></tr><tr><td /><td>to draw attention in our auditor’s report to the related</td></tr><tr><td /><td>disclosures in the Financial Statements or, if such</td></tr><tr><td /><td>disclosures are inadequate, to modify our opinion. Our</td></tr><tr><td /><td>conclusions are based on the audit evidence obtained up to</td></tr><tr><td /><td>the date of our auditor’s report. However, future events or</td></tr><tr><td /><td>conditions may cause the Company to cease to continue as</td></tr><tr><td /><td>a going concern.</td></tr><tr><td>•</td><td>Evaluate the overall presentation, structure and contents of</td></tr><tr><td /><td>the Financial Statements, including the disclosures, and</td></tr><tr><td /><td>whether the Financial Statements represent the underlying</td></tr><tr><td /><td>transactions and events in a manner that gives a true and</td></tr><tr><td /><td>fair view.</td></tr><tr><td colspan="2">We communicate with those charged with governance</td></tr><tr><td colspan="2">regarding, among other matters, the planned scope and timing</td></tr><tr><td colspan="2">of the audit and significant audit findings, including any</td></tr><tr><td colspan="2">significant deficiencies in internal control that we identify during</td></tr><tr><td colspan="2">our audit.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Statement on Management’s Review</td></tr><tr><td colspan="1">Management is responsible for Management’s Review.</td></tr><tr><td colspan="1">Our opinion on the Financial Statements does not cover</td></tr><tr><td colspan="1">Management’s Review, and we do not express any form of</td></tr><tr><td colspan="1">assurance conclusion thereon.</td></tr><tr><td colspan="1">In connection with our audit of the Financial Statements, our</td></tr><tr><td colspan="1">responsibility is to read Management’s Review and, in doing so,</td></tr><tr><td colspan="1">consider whether Management’s Review is materially</td></tr><tr><td colspan="1">inconsistent with the Financial Statements or our knowledge</td></tr><tr><td colspan="1">obtained during the audit, or otherwise appears to be materially</td></tr><tr><td colspan="1">misstated.</td></tr><tr><td colspan="1">Moreover, it is our responsibility to consider whether</td></tr><tr><td colspan="1">Management’s Review provides the information required under</td></tr><tr><td colspan="1">the Danish Financial Statements Act.</td></tr><tr><td colspan="1">Based on the work we have performed, we conclude that</td></tr><tr><td colspan="1">Management’s Review is in accordance with the Financial</td></tr><tr><td colspan="1">Statements and has been prepared in accordance with the</td></tr><tr><td colspan="1">requirements of the Danish Financial Statements Act. We did not</td></tr><tr><td colspan="1">identify any material misstatement of Management’s Review.</td></tr></table> Randers 2022-05-06 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Management’s review</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Main activities</td></tr><tr><td colspan="1">Clearhaus A/S’ primary activity is to provide payment services.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Uncertainties regarding recognition and measurement</td></tr><tr><td colspan="1">The main uncertainty, regarding recognition and measurement, is related to the valuation of intangible</td></tr><tr><td colspan="1">assets. It is, however, the management’s assessment that the uncertainties for 2021 are at an acceptable</td></tr><tr><td colspan="1">level.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Unusual matters</td></tr><tr><td colspan="1">COVID-19 has had a positive influence on the business of Clearhaus A/S as there has been an</td></tr><tr><td colspan="1">accelerated migration towards e-commerce.</td></tr><tr><td colspan="1">During the year the shareholders of Clearhaus A/S have agreed to sell the company to Unzer Group</td></tr><tr><td colspan="1">GmbH.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Development in activities and economic conditions</td></tr><tr><td colspan="1">In 2021 Clearhaus A/S made an EBITDA of M.EUR 14.274, which the management sees as satisfactory.</td></tr><tr><td colspan="1">The result of 2021 has exceeded expectations. The positive development in revenue and volume</td></tr><tr><td colspan="1">numbers can partly be explained by an increased presence in Germany and Austria following the</td></tr><tr><td colspan="1">acquisition by Unzer. The acquisition has contributed to the overall growth.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Expected development</td></tr><tr><td colspan="1">The expectation for the 2022-result is an EBITDA of EUR 5-10M.</td></tr><tr><td colspan="1">Events following the financial year-end</td></tr><tr><td colspan="1">No events have occurred after the end of the financial year of material importance for the Company’s</td></tr><tr><td colspan="1">financial position.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Knowledge resources</td></tr><tr><td colspan="1">The company's business foundation is built on employee knowledge, especially in regard to IT</td></tr><tr><td colspan="1">development. The business requires employees with a high educational level as well as technical</td></tr><tr><td colspan="1">experience.</td></tr><tr><td colspan="1">The company strives to act as self-supportive as possible in order to minimize the impact of individual</td></tr><tr><td colspan="1">employees’ departure.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Research and development activities</td></tr><tr><td colspan="1">The Company does to a large extent develop its own systems in order to optimize the flow of the</td></tr><tr><td colspan="1">business and to increase the level of control in all aspects of the business. This requires a significant</td></tr><tr><td colspan="1">amount of in-house development, which has been a part of the core business from day one. This is also</td></tr><tr><td colspan="1">seen in the constant improvement of systems as well as the development of new systems to help</td></tr><tr><td colspan="1">improve customer and employee experience.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="2">Corporate Social Responsibility (CSR) report</td></tr><tr><td colspan="2">Clearhaus A/S’ primary activity is to provide payment services as a card acquirer. Clearhaus A/S is</td></tr><tr><td colspan="2">licensed by the Danish FSA and a principal member of Visa and Mastercard.</td></tr><tr><td colspan="2">Clearhaus A/S continuously identifies and evaluates potential risks in order to take measures to limit the</td></tr><tr><td colspan="2">risk of unforeseen events that may have a negative impact on the business. Based on the nature of its</td></tr><tr><td colspan="2">business, Clearhaus is mainly exposed to operational and financial risks. Clearhaus A/S has a wide range</td></tr><tr><td colspan="2">of policies and procedures in order to regulate the risks within the company’s appetite.</td></tr><tr><td colspan="2">CSR is short for Corporate Social Responsibility, where the central element is how companies implement</td></tr><tr><td colspan="2">voluntary initiatives in their company strategy and business activities, regarding civil rights, social</td></tr><tr><td colspan="2">conditions, environment and climate conditions as well as the fight against corruption.</td></tr><tr><td colspan="2">On an annually basis Clearhaus A/S conducts a risk assessment of the value chain in order to identify</td></tr><tr><td>whether any of the company’s activities have had</td><td>a significant negative impact on the external</td></tr><tr><td colspan="2">environment in relation to the area's of social responsibilities. Amongst others this includes environment,</td></tr><tr><td colspan="2">clima conditions, personal and social issues as well as human rights.</td></tr><tr><td colspan="2">Based on this assessment it is concluded that there are no significant social risks related to the</td></tr><tr><td colspan="2">company. Clearhaus A/S has not approved policies for the above mentioned areas, why there is not</td></tr><tr><td colspan="2">provided any separate statement on Corporate Social responsibilities.</td></tr><tr><td colspan="2">As part of the DNA, Clearhaus has a strict no tolerance policy when it comes to bribery and corruption</td></tr><tr><td colspan="2">and is integrated into all company policies.</td></tr><tr><td colspan="2">However Corporate Social Responsibility is an integrated part of the daily operations of Clearhaus. As a</td></tr><tr><td colspan="2">company Clearhaus strives to be socially conscious and embrace diversity in the workforce.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Target figures and policy for the underrepresented gender</td></tr><tr><td colspan="1">Clearhaus is aiming towards a high competence level throughout the organization and in that regard</td></tr><tr><td colspan="1">Clearhaus sees diversity as a strength. Clearhaus thus highly prioritizes diversity in age, gender and</td></tr><tr><td colspan="1">competences.</td></tr><tr><td colspan="1">Clearhaus aims towards having a gender diversity, where at least 25% of the management team and the</td></tr><tr><td colspan="1">Board of Directors should be the underrepresented gender.</td></tr><tr><td colspan="1">Clearhaus has not been able to attract female candidates with skill sets matching the job descriptions</td></tr><tr><td colspan="1">for the leadership positions that have been available in the organization.</td></tr><tr><td colspan="1">Instead of hiring female leaders from outside the organization, Clearhaus is trying to reach the diversity</td></tr><tr><td colspan="1">goal through the professional development of the current staff. This should increase the diversity in the</td></tr><tr><td colspan="1">long run from inside the organization as well as secure a long tail of in-house talent.</td></tr><tr><td colspan="1">This has already had some effect in the larger departments of the company where several women have</td></tr><tr><td colspan="1">been promoted to team leads and are undergoing training to take further leadership responsibilities.</td></tr><tr><td colspan="1">This focus should in the long run affect the top management layers as well.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Statement of data ethics</td></tr><tr><td colspan="1">Clearhaus does not have a policy for data ethics, as the requirement for a statement on data ethics is</td></tr><tr><td colspan="1">built around a so-called follow and explain principle.</td></tr><tr><td colspan="1">Even though Clearhaus does not have a policy for data ethics, Clearhaus treats all data with</td></tr><tr><td colspan="1">responsibility, decency and transparency. The treatment of data is an integrated task of Clearhaus’</td></tr><tr><td colspan="1">processes and maintains a core task of the company, which is to create financial security for our clients.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Accounting policies</td></tr><tr><td colspan="1">The Annual Report of Clearhaus A/S for 2021 has been</td></tr><tr><td colspan="1">presented in accordance with the provisions of the Danish</td></tr><tr><td colspan="1">Financial Statements Act for enterprises in reporting class C,</td></tr><tr><td colspan="1">large-size enterprises.</td></tr><tr><td colspan="1">The Annual Report is prepared consistently with the accounting</td></tr><tr><td colspan="1">principles applied last year, except for the following changes</td></tr><tr><td colspan="1">Change in accounting policies and classification</td></tr><tr><td colspan="1">The accounting policies have been changed in the following</td></tr><tr><td colspan="1">areas</td></tr><tr><td colspan="1">Settlement funds has been reclassified from cash to other</td></tr><tr><td colspan="1">receivables. The change in accounting policies has no impact on</td></tr><tr><td colspan="1">the income statement, balance sheet or equity. Last year figures</td></tr><tr><td colspan="1">have been amended accordingly.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Conversion of foreign currencies</td></tr><tr><td colspan="1">Transactions in foreign currencies are converted at the rate of</td></tr><tr><td colspan="1">exchange at the date of the transaction. The difference between</td></tr><tr><td colspan="1">the exchange rate on the transaction date and the rate on the</td></tr><tr><td colspan="1">payment date, is recognised in the income statement as a</td></tr><tr><td colspan="1">financial income or expense. If foreign exchange positions are</td></tr><tr><td colspan="1">considered to hedge future cash flows, the exchange</td></tr><tr><td colspan="1">adjustments are recognised directly in the equity.</td></tr><tr><td colspan="1">Receivables, liabilities and other monetary items in foreign</td></tr><tr><td colspan="1">currencies that are not settled by the balance sheet date are</td></tr><tr><td colspan="1">converted at the exchange rate of this day. The difference</td></tr><tr><td colspan="1">between the exchange rate on the balance sheet date, and the</td></tr><tr><td colspan="1">exchange rate at the time of the occurring receivable or liability,</td></tr><tr><td colspan="1">is recognised in the income statement as financial income or</td></tr><tr><td colspan="1">expense.</td></tr><tr><td colspan="1">Fixed assets acquired in foreign currencies are converted at the</td></tr><tr><td colspan="1">rate of exchange on the transaction date.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Income statement</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">REVENUE</td></tr><tr><td colspan="1">Net revenue from sales is recognised in the income statement if</td></tr><tr><td colspan="1">the supply and risk transfers to the buyer have taken place</td></tr><tr><td colspan="1">before the end of the year. Income in form of transaction specific</td></tr><tr><td colspan="1">fees is recognized on time of the capture for the transaction. Net</td></tr><tr><td colspan="1">revenue is recognised exclusive of VAT, duties and less</td></tr><tr><td colspan="1">discounts related to the sale.</td></tr><tr><td colspan="1">Cost of Sales is the accumulated total of all costs directly related</td></tr><tr><td colspan="1">to the company’s daily operation as an acquirer. This fulfil the</td></tr><tr><td colspan="1">criteria for recognition.</td></tr><tr><td colspan="1">Other external expenses include expenses on sales, facilities,</td></tr><tr><td colspan="1">administration and bad debts etc.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">STAFF COSTS</td></tr><tr><td colspan="1">Staff costs comprise wages and salaries, including holiday pay</td></tr><tr><td colspan="1">and pensions and other costs for social security etc. for the</td></tr><tr><td colspan="1">company’s employees. Repayments from public authorities are</td></tr><tr><td colspan="1">deducted from staff costs.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">DEPRECIATION, AMORTISATION &amp; IMPAIRMENT LOSSES</td></tr><tr><td colspan="1">Depreciation, Amortisation &amp; Impairment losses include this</td></tr><tr><td colspan="1">years depreciations and write-downs, as well as the profit or loss</td></tr><tr><td colspan="1">from sold intangible- and tangible fixed assets.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">FINANCIAL INCOME AND EXPENSES</td></tr><tr><td colspan="1">Financial income and expenses include interest income and</td></tr><tr><td colspan="1">expenses, financial expenses of finance leases, realised and</td></tr><tr><td colspan="1">unrealised gains and losses arising from investments in financial</td></tr><tr><td colspan="1">assets, debt and transactions in foreign currencies, amortisation</td></tr><tr><td colspan="1">of financial assets and liabilities as well as charges and</td></tr><tr><td colspan="1">allowances under the tax-on-account scheme etc. Financial</td></tr><tr><td colspan="1">income and expenses are recognised in the income statement</td></tr><tr><td colspan="1">by the amounts that relate to the financial year.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">TAX</td></tr><tr><td colspan="1">The tax for the year, which consists of the current tax for the</td></tr><tr><td colspan="1">year and changes in deferred tax, is recognised in the income</td></tr><tr><td colspan="1">statement by the portion that may be attributed to the profit for</td></tr><tr><td colspan="1">the year, and is recognised directly in the equity by the portion</td></tr><tr><td colspan="1">that may be attributed to entries directly to the equity.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Balance</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Intangible fixed assets</td></tr><tr><td colspan="1">DEVELOPMENT PROJECTS, PATENTS OR LICENSES</td></tr><tr><td colspan="1">Patents and licences are measured at the lower of cost less</td></tr><tr><td colspan="1">accumulated amortisation or the recoverable amount. The</td></tr><tr><td colspan="1">amortisation period is normally 5 years.</td></tr><tr><td colspan="1">Development costs comprise costs, including wages and</td></tr><tr><td colspan="1">salaries, and amortisation, which directly or indirectly can be</td></tr><tr><td colspan="1">related to the company’s development activities and which fulfil</td></tr><tr><td colspan="1">the criteria for recognition.</td></tr><tr><td colspan="1">Capitalised development costs are measured at the lower of cost</td></tr><tr><td colspan="1">less accumulated amortisation or recoverable amount.</td></tr><tr><td colspan="1">Capitalised development costs are amortised on a straight-line</td></tr><tr><td colspan="1">basis over the estimated useful life after completion of the</td></tr><tr><td colspan="1">development work. The amortisation period is normally 5 to 10</td></tr><tr><td colspan="1">years.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="3">Tangible fixed assets</td></tr><tr><td colspan="3">Other plants, fixtures and equipment are measured at cost less</td></tr><tr><td colspan="3">accumulated depreciation and impairment losses. Land is not</td></tr><tr><td colspan="3">depreciated.</td></tr><tr><td colspan="3">The depreciation base is cost less estimated residual value after</td></tr><tr><td colspan="3">end of useful life.</td></tr><tr><td colspan="3">The cost includes the acquisition price and costs incurred</td></tr><tr><td colspan="3">directly in connection with the acquisition until the time when</td></tr><tr><td colspan="3">the asset is ready to be used. As regards self-manufactured</td></tr><tr><td colspan="3">assets, the cost price includes cost of materials, components,</td></tr><tr><td colspan="3">subcontractors, direct payroll and indirect production costs.</td></tr><tr><td colspan="3">Straight-line depreciation is provided on the basis of an</td></tr><tr><td colspan="3">assessment of the expected useful lives of the assets and their</td></tr><tr><td colspan="3">residual value</td></tr><tr><td /><td>Useful Life</td><td>Residual Value</td></tr><tr><td>Other plants, fixtures</td><td>3-5 Years</td><td>0%</td></tr><tr><td colspan="3">and equipment</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Impairment of fixed assets</td></tr><tr><td colspan="1">The carrying amount of intangible fixed and tangible assets</td></tr><tr><td colspan="1">together with fixed assets, which are not measured at fair value,</td></tr><tr><td colspan="1">are valued on an annual basis for indications of impairment</td></tr><tr><td colspan="1">other than that reflected by amortisation and depreciation.</td></tr><tr><td colspan="1">In the event of impairment indications, an impairment test is</td></tr><tr><td colspan="1">made for each asset or group of assets, respectively. If the net</td></tr><tr><td colspan="1">realisable value is lower than the carrying amount, the assets are</td></tr><tr><td colspan="1">written down to the lower value.</td></tr><tr><td colspan="1">The recoverable amount is calculated at the higher of net selling</td></tr><tr><td colspan="1">price and capital value. The capital value is deter- mined as the</td></tr><tr><td colspan="1">fair value of the expected net cash flows from the use of the</td></tr><tr><td colspan="1">asset or group of assets and the expected net cash flows from</td></tr><tr><td colspan="1">sale of the asset or group of assets after the end of its useful life.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Fixed asset investments</td></tr><tr><td colspan="1">Investments in financial assets include investments that are</td></tr><tr><td colspan="1">expected to be held to maturity and are measured at amortised</td></tr><tr><td colspan="1">cost.</td></tr><tr><td colspan="1">Deposits include rental deposits which are recognised and</td></tr><tr><td colspan="1">measured at amortised cost. Deposits are not depreciated.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">RECEIVABLES</td></tr><tr><td colspan="1">Receivables are measured at amortised cost which usually</td></tr><tr><td colspan="1">corresponds to nominal value. The value is reduced by</td></tr><tr><td colspan="1">impairment losses to meet expected losses.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">SECURITIES AND INVESTMENTS</td></tr><tr><td colspan="1">Securities recognised as current assets comprise shares, and</td></tr><tr><td colspan="1">other current investments that are measured at market fair</td></tr><tr><td colspan="1">value on the balance sheet date. Public quoted securities are</td></tr><tr><td colspan="1">measured at quoted price. Non-quoted securities are measured</td></tr><tr><td colspan="1">at sale value based on the computed net present value.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">CASH AND CASH EQUIVALENTS</td></tr><tr><td colspan="1">Cash and cash equivalents consist of money deposited in</td></tr><tr><td colspan="1">financial institutions and in cash holdings.</td></tr></table><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">CASH AND CASH EQUIVALENTS</td></tr><tr><td colspan="1">Cash and cash equivalents include bank overdraft and cash in</td></tr><tr><td colspan="1">hand.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">ACCRUED ASSETS</td></tr><tr><td colspan="1">Accruals, recognised as assets, include costs incurred relating to</td></tr><tr><td colspan="1">the subsequent financial year.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">TAX PAYABLE AND DEFERRED TAX</td></tr><tr><td colspan="1">Current tax liabilities and receivable current tax are recognised</td></tr><tr><td colspan="1">in the balance sheet as the calculated tax on the taxable income</td></tr><tr><td colspan="1">for the year, adjusted for tax on the taxable income for previous</td></tr><tr><td colspan="1">years and taxes paid on account.</td></tr><tr><td colspan="1">Deferred tax is measured on the temporary differences between</td></tr><tr><td colspan="1">the carrying amount and the tax value of assets and liabilities.</td></tr><tr><td colspan="1">Deferred tax assets, including the tax value of tax loss car- ry-</td></tr><tr><td colspan="1">forwards, are measured at the expected realisable value of the</td></tr><tr><td colspan="1">asset, either by set-off against tax on future earnings or by set-</td></tr><tr><td colspan="1">off against deferred tax liabilities within the same legal tax entity</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">LIABILITIES</td></tr><tr><td colspan="1">Financial liabilities are recognised at the time of borrowing by</td></tr><tr><td colspan="1">the amount of proceeds received less borrowing costs. In</td></tr><tr><td colspan="1">subsequent periods, the financial liabilities are measured at</td></tr><tr><td colspan="1">amortised cost equal to the capitalised value when using the</td></tr><tr><td colspan="1">effective interest, the difference between the proceeds and the</td></tr><tr><td colspan="1">nominal value being recognised in the income statement over</td></tr><tr><td colspan="1">the term of loan</td></tr><tr><td colspan="1">Amortised cost of current liabilities usually corresponds to</td></tr><tr><td colspan="1">nominal value.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">FOREIGN CURRENCY TRANSLATION</td></tr><tr><td colspan="1">Transactions in foreign currencies are translated at the rate of</td></tr><tr><td colspan="1">exchange on the transaction date. Exchange differences arising</td></tr><tr><td colspan="1">between the rate on the transaction date and the rate on the</td></tr><tr><td colspan="1">payment date are recognised in the income statement as a</td></tr><tr><td colspan="1">financial income or expense.</td></tr><tr><td colspan="1">If the foreign exchange position is considered to hedge future</td></tr><tr><td colspan="1">cash flows, the unrealised exchange adjustments are recognised</td></tr><tr><td colspan="1">directly in the equity.</td></tr><tr><td colspan="1">Receivables, payables and other monetary items in foreign</td></tr><tr><td colspan="1">currencies that are not settled on the balance sheet date are</td></tr><tr><td colspan="1">translated at the exchange rate on the balance sheet date. The</td></tr><tr><td colspan="1">difference between the exchange rate on the balance sheet date</td></tr><tr><td colspan="1">and the exchange rate at the time of occurrence of the</td></tr><tr><td colspan="1">receivables or payables is recognised in the income statement</td></tr><tr><td colspan="1">as financial income or expenses.</td></tr><tr><td colspan="1">Fixed assets acquired in foreign currencies are translated at the</td></tr><tr><td colspan="1">rate of exchange on the transaction date.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Cash flow statement</td></tr><tr><td colspan="1">The cash flow statement shows the Company’s cash flows for</td></tr><tr><td colspan="1">the year for operating activities, investing activities and</td></tr><tr><td colspan="1">financing activities in the year, the change in cash and cash</td></tr><tr><td colspan="1">equivalents of the year and cash and cash equivalents at</td></tr><tr><td colspan="1">beginning and end of the year.</td></tr><tr><td colspan="1">CASH FLOWS FROM OPERATING ACTIVITIES</td></tr><tr><td colspan="1">Cash flows from operating activities are computed as the results</td></tr><tr><td colspan="1">for the year adjusted for non-cash operating items, changes in</td></tr><tr><td colspan="1">net working capital and corporation tax paid.</td></tr><tr><td colspan="1">CASH FLOWS FROM INVESTING ACTIVITIES</td></tr><tr><td colspan="1">Cash flows from investing activities include payments in</td></tr><tr><td colspan="1">connection with purchase and sale of intangible and tangible</td></tr><tr><td colspan="1">fixed asset and fixed asset investments.</td></tr><tr><td colspan="1">CASH FLOWS FROM FINANCING ACTIVITIES</td></tr><tr><td colspan="1">Cash flows from financing activities include changes in the size</td></tr><tr><td colspan="1">or composition of share capital and related costs, and</td></tr><tr><td colspan="1">borrowings and repayment of interest-bearing debt and</td></tr><tr><td colspan="1">payment of dividend to shareholders.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Financial highlights</td></tr></table> 100878890 20441119 10996694 -48531 7.958 0.111 1.062 76593293 3844478 20441119 6166888 832820 13441411 2977 888586 248735 14084239 3087545 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="7" align="left" valign="middle" >Statement of changes in Equity</td></tr><tr><td width="42%" ></td><td width="9%" colspan="1" align="right" valign="middle" >Share capital</td><td width="9%" colspan="1" align="right" valign="middle" >development costs</td><td width="9%" colspan="1" align="right" valign="middle" >Reserve for</td><td width="9%" colspan="1" align="right" valign="middle" >Retained profit</td><td width="9%" colspan="1" align="right" valign="middle" >Proposed dividend</td><td width="13%" colspan="1" align="right" valign="middle" >Total</td></tr><tr><td width="42%" colspan="1" align="left" valign="middle" >Equity at 1 January 2021</td><td width="9%" align="right" valign="middle" >440.000</td><td width="9%" align="right" valign="middle" >1.509.749</td><td width="9%" ></td><td width="9%" align="right" valign="middle" >6.041.511</td><td width="9%" align="right" valign="middle" >0</td><td width="13%" align="right" valign="middle" >7.991.260</td></tr><tr><td width="42%" colspan="1" align="left" valign="middle" >Proposed profit allocation</td><td width="9%" align="right" valign="middle" >0</td><td width="9%" align="right" valign="middle" >0</td><td width="9%" ></td><td width="9%" align="right" valign="middle" >1.793.591</td><td width="9%" align="right" valign="middle" >8.417.987</td><td width="13%" align="right" valign="middle" >10.211.578</td></tr><tr><td colspan="7"></td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Transactions with owners</td></tr><tr><td width="42%" colspan="1" align="left" valign="middle" >Extraordinary dividend paid</td><td width="9%" align="right" valign="middle" >0</td><td width="9%" align="right" valign="middle" >0</td><td width="9%" ></td><td width="9%" align="right" valign="middle" >0</td><td width="9%" align="right" valign="middle" >-8.417.987</td><td width="13%" align="right" valign="middle" >-8.417.987</td></tr><tr><td width="42%" colspan="1" align="left" valign="middle" >Sale of own equity</td><td width="9%" align="right" valign="middle" >0</td><td width="9%" align="right" valign="middle" >0</td><td width="9%" ></td><td width="9%" align="right" valign="middle" >2.147.651</td><td width="9%" align="right" valign="middle" >0</td><td width="13%" align="right" valign="middle" >2.147.651</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >investments</td></tr><tr><td colspan="7"></td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Other legal bindings</td></tr><tr><td width="42%" colspan="1" align="left" valign="middle" >Capitalized development</td><td width="9%" align="right" valign="middle" >0</td><td width="9%" align="right" valign="middle" >785.110</td><td width="9%" ></td><td width="9%" align="right" valign="middle" >0</td><td width="9%" align="right" valign="middle" >0</td><td width="13%" align="right" valign="middle" >785.110</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >costs</td></tr><tr><td width="42%" colspan="1" align="left" valign="middle" >Revaluations in the year</td><td width="9%" align="right" valign="middle" >0</td><td width="9%" align="right" valign="middle" >-401.057</td><td width="9%" ></td><td width="9%" align="right" valign="middle" >401.057</td><td width="9%" align="right" valign="middle" >0</td><td width="13%" align="right" valign="middle" >0</td></tr><tr><td width="42%" colspan="1" align="left" valign="middle" >Equity at 31 December 2021</td><td width="9%" align="right" valign="middle" >440.000</td><td width="9%" align="right" valign="middle" >1.893.802</td><td width="9%" ></td><td width="9%" align="right" valign="middle" >10.383.810</td><td width="9%" align="right" valign="middle" >0</td><td width="13%" align="right" valign="middle" >12.717.612</td></tr><tr><td colspan="7"></td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" ><b>CONTRIBUTED CAPITAL</b></td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >The share capital consists of 440.000 shares at 1 Euro. The shares are not divided into categories. Changes in the share capital</td></tr><tr><td colspan="7"></td></tr><tr><td width="87%" colspan="6" align="left" valign="middle" >Share capital at the founding</td><td width="13%" align="right" valign="middle" >132.000</td></tr><tr><td width="87%" colspan="6" align="left" valign="middle" >Capital increase 15.06.2011</td><td width="13%" align="right" valign="middle" >132.000</td></tr><tr><td width="87%" colspan="6" align="left" valign="middle" >Capital increase 05.11.2013</td><td width="13%" align="right" valign="middle" >37.507</td></tr><tr><td width="87%" colspan="6" align="left" valign="middle" >Capital increase 09.04.2014</td><td width="13%" align="right" valign="middle" >41.795</td></tr><tr><td width="87%" colspan="6" align="left" valign="middle" >Capital increase 19.12.2014</td><td width="13%" align="right" valign="middle" >44.000</td></tr><tr><td width="87%" colspan="6" align="left" valign="middle" >Capital increase 29.05.2015</td><td width="13%" align="right" valign="middle" >13.200</td></tr><tr><td width="87%" colspan="6" align="left" valign="middle" >Capital increase 30.12.2015</td><td width="13%" align="right" valign="middle" >39.498</td></tr><tr><td width="42%" ></td><td width="9%" ></td><td width="9%" ></td><td width="9%" ></td><td width="9%" ></td><td width="9%" ></td><td width="13%" align="right" valign="middle" >440.000</td></tr></table> 763395 3087545 -1472677 -7302806 42457336 -1006551 -48530 -229279 13630 2147651 876921 -8417987 0 -8675120 34659137 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="3" align="left" valign="middle" >Disclosures</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >NET Revenue</td></tr><tr><td width="74%" ></td><td width="12%" colspan="1" align="right" valign="middle" >2021 (EUR)</td><td width="14%" colspan="1" align="right" valign="middle" >2020 (EUR)</td></tr><tr><td width="74%" colspan="1" align="left" valign="middle" >Transaction services</td><td width="12%" align="right" valign="middle" >99.777.363</td><td width="14%" align="right" valign="middle" >44.768.902</td></tr><tr><td width="74%" colspan="1" align="left" valign="middle" >Non-transaction services</td><td width="12%" align="right" valign="middle" >1.101.527</td><td width="14%" align="right" valign="middle" >509.319</td></tr><tr><td width="74%" ></td><td width="12%" align="right" valign="middle" >100.878.890</td><td width="14%" align="right" valign="middle" >45.278.221</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >* All revenue generated from the Danish location in regards to merchant services</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="3"></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Fee to statutory auditor</td></tr><tr><td width="74%" ></td><td width="12%" colspan="1" align="right" valign="middle" >2021 (EUR)</td><td width="14%" colspan="1" align="right" valign="middle" >2020 (EUR)</td></tr><tr><td width="74%" colspan="1" align="left" valign="middle" >Total Fees BDO</td><td width="12%" align="right" valign="middle" >77.331</td><td width="14%" align="right" valign="middle" >56.414</td></tr><tr><td colspan="3"></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Specification auditor fees</td></tr><tr><td width="74%" colspan="1" align="left" valign="middle" >Statutory audit</td><td width="12%" align="right" valign="middle" >46.141</td><td width="14%" align="right" valign="middle" >38.590</td></tr><tr><td width="74%" colspan="1" align="left" valign="middle" >Assurance engagements</td><td width="12%" align="right" valign="middle" >2.651</td><td width="14%" align="right" valign="middle" >0</td></tr><tr><td width="74%" colspan="1" align="left" valign="middle" >Other services</td><td width="12%" align="right" valign="middle" >28.539</td><td width="14%" align="right" valign="middle" >17.824</td></tr><tr><td colspan="3"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="3" align="left" valign="middle" >Employee expense</td></tr><tr><td width="74%" ></td><td width="12%" colspan="1" align="right" valign="middle" >2021 (EUR)</td><td width="14%" colspan="1" align="right" valign="middle" >2020 (EUR)</td></tr><tr><td width="74%" colspan="1" align="left" valign="middle" >Salary</td><td width="12%" align="right" valign="middle" >5.878.095</td><td width="14%" align="right" valign="middle" >2.829.545</td></tr><tr><td width="74%" colspan="1" align="left" valign="middle" >Other costs for social security</td><td width="12%" align="right" valign="middle" >71.386</td><td width="14%" align="right" valign="middle" >33.362</td></tr><tr><td width="74%" colspan="1" align="left" valign="middle" >Other staff costs</td><td width="12%" align="right" valign="middle" >1.223.957</td><td width="14%" align="right" valign="middle" >664.379</td></tr><tr><td width="74%" colspan="1" align="left" valign="middle" >Capitalized development costs</td><td width="12%" align="right" valign="middle" >-1.006.550</td><td width="14%" align="right" valign="middle" >-800.000</td></tr><tr><td width="74%" ></td><td width="12%" align="right" valign="middle" >6.166.888</td><td width="14%" align="right" valign="middle" >2.727.286</td></tr><tr><td width="74%" ></td><td width="12%" align="right" valign="middle" >2.021</td><td width="14%" align="right" valign="middle" >2.020</td></tr><tr><td width="74%" colspan="1" align="left" valign="middle" >Average number of employees</td><td width="12%" align="right" valign="middle" >58</td><td width="14%" align="right" valign="middle" >43</td></tr><tr><td width="74%" ></td><td width="12%" colspan="1" align="right" valign="middle" >Information of management salaries is left out in accordance to the Danish Financial Statements Act § 96 b, subsection 3 no. 2.</td><td width="14%" colspan="1" align="right" valign="middle" ></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="3"></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Income from other investments and receivables that are fixed assets</td></tr><tr><td width="74%" ></td><td width="12%" colspan="1" align="right" valign="middle" >2021 (EUR)</td><td width="14%" colspan="1" align="right" valign="middle" >2020 (EUR)</td></tr><tr><td width="74%" colspan="1" align="left" valign="middle" >Dividends</td><td width="12%" align="right" valign="middle" >2.977</td><td width="14%" align="right" valign="middle" >16.220</td></tr><tr><td width="74%" colspan="1" align="left" valign="middle" >Value adjustment</td><td width="12%" align="right" valign="middle" >0</td><td width="14%" align="right" valign="middle" >11.079</td></tr><tr><td width="74%" ></td><td width="12%" align="right" valign="middle" >2.977</td><td width="14%" align="right" valign="middle" >27.299</td></tr><tr><td colspan="3"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="3" align="left" valign="middle" >Other finance income</td></tr><tr><td width="74%" ></td><td width="12%" colspan="1" align="right" valign="middle" >2021 (EUR)</td><td width="14%" colspan="1" align="right" valign="middle" >2020 (EUR)</td></tr><tr><td width="74%" colspan="1" align="left" valign="middle" >Interests, affilliated companies</td><td width="12%" align="right" valign="middle" >333</td><td width="14%" align="right" valign="middle" >67.583</td></tr><tr><td width="74%" colspan="1" align="left" valign="middle" >Other financial income</td><td width="12%" align="right" valign="middle" >888.253</td><td width="14%" align="right" valign="middle" >873</td></tr><tr><td width="74%" ></td><td width="12%" align="right" valign="middle" >888.586</td><td width="14%" align="right" valign="middle" >68.456</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="3" align="left" valign="middle" >Other financial expenses</td></tr><tr><td width="61%" ></td><td width="18%" colspan="1" align="right" valign="middle" >2021 (EUR)</td><td width="21%" colspan="1" align="right" valign="middle" >2020 (EUR)</td></tr><tr><td width="61%" colspan="1" align="left" valign="middle" >Other financial expenses</td><td width="18%" align="right" valign="middle" >248.735</td><td width="21%" align="right" valign="middle" >174.680</td></tr><tr><td width="61%" ></td><td width="18%" align="right" valign="middle" >248.735</td><td width="21%" align="right" valign="middle" >174.680</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >7.Tax expense</td></tr><tr><td width="61%" ></td><td width="18%" colspan="1" align="right" valign="middle" >2021 (EUR)</td><td width="21%" colspan="1" align="right" valign="middle" >2020 (EUR)</td></tr><tr><td width="61%" colspan="1" align="left" valign="middle" >Current tax</td><td width="18%" align="right" valign="middle" >2.999.084</td><td width="21%" align="right" valign="middle" >1.472.677</td></tr><tr><td width="61%" colspan="1" align="left" valign="middle" >Change in deferred tax</td><td width="18%" align="right" valign="middle" >88.461</td><td width="21%" align="right" valign="middle" >72.461</td></tr><tr><td width="61%" ></td><td width="18%" align="right" valign="middle" >3.087.545</td><td width="21%" align="right" valign="middle" >1.545.138</td></tr><tr><td colspan="3"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Proposed distribution of results</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="4"></td></tr><tr><td width="100%" colspan="4" align="left" valign="middle" >Intangible assets</td></tr><tr><td width="50%" ></td><td width="15%" colspan="1" align="right" valign="middle" >Development projects</td><td width="15%" colspan="1" align="right" valign="middle" >Intangible fixed assets</td><td width="20%" colspan="1" align="right" valign="middle" >Development projects in</td></tr><tr><td width="50%" ></td><td width="15%" colspan="1" align="right" valign="middle" >completed</td><td width="15%" colspan="1" align="right" valign="middle" >acquired</td><td width="20%" colspan="1" align="right" valign="middle" >progress and prepayments</td></tr><tr><td width="50%" colspan="1" align="left" valign="middle" >Cost at 1 January 2021</td><td width="15%" align="right" valign="middle" >2.622.597</td><td width="15%" align="right" valign="middle" >410.254</td><td width="20%" align="right" valign="middle" >912.292</td></tr><tr><td width="50%" colspan="1" align="left" valign="middle" >Transfer</td><td width="15%" align="right" valign="middle" >1.156.903</td><td width="15%" align="right" valign="middle" >0</td><td width="20%" align="right" valign="middle" >-1.156.903</td></tr><tr><td width="50%" colspan="1" align="left" valign="middle" >Additions</td><td width="15%" align="right" valign="middle" >0</td><td width="15%" align="right" valign="middle" >0</td><td width="20%" align="right" valign="middle" >1.006.551</td></tr><tr><td width="50%" colspan="1" align="left" valign="middle" >Cost at 31 December 2021</td><td width="15%" align="right" valign="middle" >3.779.500</td><td width="15%" align="right" valign="middle" >410.254</td><td width="20%" align="right" valign="middle" >761.940</td></tr><tr><td colspan="4"></td></tr><tr><td width="50%" colspan="1" align="left" valign="middle" >Amortisation at 1 January 2021</td><td width="15%" align="right" valign="middle" >1.535.515</td><td width="15%" align="right" valign="middle" >120.358</td><td width="20%" align="right" valign="middle" >0</td></tr><tr><td width="50%" colspan="1" align="left" valign="middle" >Amortisation for the year</td><td width="15%" align="right" valign="middle" >577.975</td><td width="15%" align="right" valign="middle" >88.065</td><td width="20%" align="right" valign="middle" >0</td></tr><tr><td width="50%" colspan="1" align="left" valign="middle" >Amortisation at 31 December 2021</td><td width="15%" align="right" valign="middle" >2.113.490</td><td width="15%" align="right" valign="middle" >208.423</td><td width="20%" align="right" valign="middle" >0</td></tr><tr><td colspan="4"></td></tr><tr><td width="50%" colspan="1" align="left" valign="middle" >Carrying amount at 31 December 2021</td><td width="15%" align="right" valign="middle" >1.666.010</td><td width="15%" align="right" valign="middle" >201.831</td><td width="20%" align="right" valign="middle" >761.940</td></tr><tr><td colspan="4"></td></tr><tr><td width="100%" colspan="4" align="left" valign="middle" >Development costs are the expenses attributed to the ongoing improvements of the existing systems as well as the development of new</td></tr><tr><td width="100%" colspan="4" align="left" valign="middle" >ones. The development costs are capitalised based on the expectation that the developed systems will contribute to the continued</td></tr><tr><td width="100%" colspan="4" align="left" valign="middle" >growth of the company.</td></tr><tr><td width="100%" colspan="4" align="left" valign="middle" >The systems will provide the merchants with a higher level of service and further streamline the work processes in the company.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="4" align="left" valign="middle" >Property,plant and equipment</td></tr><tr><td width="48%" ></td><td width="17%" ></td><td width="17%" colspan="1" align="right" valign="middle" >Other plants, machinery,</td><td width="18%" colspan="1" align="right" valign="middle" ></td></tr><tr><td width="48%" ></td><td width="17%" ></td><td width="17%" colspan="1" align="right" valign="middle" >tools and equiment</td><td width="18%" colspan="1" align="right" valign="middle" >Leasehold improvements</td></tr><tr><td width="65%" colspan="2" align="left" valign="middle" >Cost at 1 January 2021</td><td width="17%" align="right" valign="middle" >162.709</td><td width="18%" align="right" valign="middle" >171.187</td></tr><tr><td width="65%" colspan="2" align="left" valign="middle" >Additions</td><td width="17%" align="right" valign="middle" >21.509</td><td width="18%" align="right" valign="middle" >27.022</td></tr><tr><td width="65%" colspan="2" align="left" valign="middle" >Disposals</td><td width="17%" align="right" valign="middle" >-10.220</td><td width="18%" align="right" valign="middle" >-133.860</td></tr><tr><td width="65%" colspan="2" align="left" valign="middle" >Cost at 31 December 2021</td><td width="17%" align="right" valign="middle" >173.998</td><td width="18%" align="right" valign="middle" >64.349</td></tr><tr><td colspan="4"></td></tr><tr><td width="65%" colspan="2" align="left" valign="middle" >Depreciation and impairment losses at 1 January 2021</td><td width="17%" align="right" valign="middle" >83.752</td><td width="18%" align="right" valign="middle" >31.129</td></tr><tr><td width="65%" colspan="2" align="left" valign="middle" >Depreciation for the year</td><td width="17%" align="right" valign="middle" >33.888</td><td width="18%" align="right" valign="middle" >61.468</td></tr><tr><td width="65%" colspan="2" align="left" valign="middle" >Reversed depreciation</td><td width="17%" align="right" valign="middle" >-10.220</td><td width="18%" align="right" valign="middle" >-64.435</td></tr><tr><td width="65%" colspan="2" align="left" valign="middle" >Depreciation and impairment losses at 31 December 2021</td><td width="17%" align="right" valign="middle" >107.420</td><td width="18%" align="right" valign="middle" >28.162</td></tr><tr><td colspan="4"></td></tr><tr><td width="65%" colspan="2" align="left" valign="middle" >Carrying amount at 31 December 2021</td><td width="17%" align="right" valign="middle" >66.578</td><td width="18%" align="right" valign="middle" >36.187</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="4"></td></tr><tr><td width="100%" colspan="4" align="left" valign="middle" >Financial non-current assets</td></tr><tr><td width="48%" ></td><td width="17%" colspan="1" align="right" valign="middle" >Other securities</td><td width="17%" colspan="1" align="right" valign="middle" ></td><td width="18%" colspan="1" align="right" valign="middle" >Rent deposit and other receivables</td></tr><tr><td width="48%" colspan="1" align="left" valign="middle" >Cost at 1 January 2021</td><td width="17%" align="right" valign="middle" >186.102</td><td width="17%" ></td><td width="18%" align="right" valign="middle" >2.326.430</td></tr><tr><td width="48%" colspan="1" align="left" valign="middle" >Exchange adjustment</td><td width="17%" align="right" valign="middle" >0</td><td width="17%" ></td><td width="18%" align="right" valign="middle" >27.909</td></tr><tr><td width="48%" colspan="1" align="left" valign="middle" >Additions</td><td width="17%" align="right" valign="middle" >0</td><td width="17%" ></td><td width="18%" align="right" valign="middle" >-56.950</td></tr><tr><td width="48%" colspan="1" align="left" valign="middle" >Disposals</td><td width="17%" align="right" valign="middle" >0</td><td width="17%" ></td><td width="18%" align="right" valign="middle" >229.280</td></tr><tr><td width="48%" colspan="1" align="left" valign="middle" >Cost at 31 December 2021</td><td width="17%" align="right" valign="middle" >186.102</td><td width="17%" ></td><td width="18%" align="right" valign="middle" >2.526.669</td></tr><tr><td colspan="4"></td></tr><tr><td width="48%" colspan="1" align="left" valign="middle" >Revaluation at 1 January 2021</td><td width="17%" align="right" valign="middle" >431.271</td><td width="17%" ></td><td width="18%" align="right" valign="middle" >0</td></tr><tr><td width="48%" colspan="1" align="left" valign="middle" >Revaluation and impairment losses for the year</td><td width="17%" align="right" valign="middle" >47.109</td><td width="17%" ></td><td width="18%" align="right" valign="middle" >0</td></tr><tr><td width="48%" colspan="1" align="left" valign="middle" >Revaluation at 31 December 2021</td><td width="17%" align="right" valign="middle" >478.380</td><td width="17%" ></td><td width="18%" align="right" valign="middle" >0</td></tr><tr><td width="48%" colspan="1" align="left" valign="middle" >Carrying amount at 31 December 2021</td><td width="17%" align="right" valign="middle" >664.482</td><td width="17%" ></td><td width="18%" align="right" valign="middle" >2.526.669</td></tr><tr><td width="100%" colspan="4" align="left" valign="middle" >The carrying amount of financial non-current assets includes securities measured at fair value by the following amounts</td></tr><tr><td colspan="4"></td></tr><tr><td width="48%" ></td><td width="17%" ></td><td width="17%" ></td><td width="18%" colspan="1" align="right" valign="middle" >Listed shares</td></tr><tr><td width="82%" colspan="3" align="left" valign="middle" >Fair value at 31 December 2021</td><td width="18%" align="right" valign="middle" >664.482</td></tr><tr><td width="82%" colspan="3" align="left" valign="middle" >Value adjustment in the year recognised in the income statement</td><td width="18%" align="right" valign="middle" >47.109</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="4"></td></tr><tr><td width="100%" colspan="4" align="left" valign="middle" >Prepayments and accrued income</td></tr><tr><td width="48%" ></td><td width="17%" colspan="1" align="right" valign="middle" >2021 (EUR)</td><td width="17%" colspan="1" align="right" valign="middle" ></td><td width="18%" colspan="1" align="right" valign="middle" >2020 (EUR)</td></tr><tr><td width="48%" colspan="1" align="left" valign="middle" >Costs</td><td width="17%" align="right" valign="middle" >321.501</td><td width="17%" ></td><td width="18%" align="right" valign="middle" >189.550</td></tr><tr><td width="48%" ></td><td width="17%" align="right" valign="middle" >321.501</td><td width="17%" ></td><td width="18%" align="right" valign="middle" >189.550</td></tr><tr><td width="100%" colspan="4" align="left" valign="middle" >Relates to prepaid expenses relating to the coming year.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="3" align="left" valign="middle" >Provision for deferred tax</td></tr><tr><td colspan="3"></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Deferred tax is provided for on contract work in progress, inventories and intangible assets and property, plant and equipment.</td></tr><tr><td colspan="3"></td></tr><tr><td width="62%" colspan="1" align="left" valign="middle" >Deferred tax relates to</td><td width="18%" colspan="1" align="right" valign="middle" >2021 (EUR)</td><td width="20%" colspan="1" align="right" valign="middle" >2020 (EUR)</td></tr><tr><td width="62%" colspan="1" align="left" valign="middle" >Leasehold improvements</td><td width="18%" align="right" valign="middle" >-4.632</td><td width="20%" align="right" valign="middle" >2.894</td></tr><tr><td width="62%" colspan="1" align="left" valign="middle" >Other plants, machinery, tools and equipment</td><td width="18%" align="right" valign="middle" >57</td><td width="20%" align="right" valign="middle" >-2.083</td></tr><tr><td width="62%" colspan="1" align="left" valign="middle" >Development projects</td><td width="18%" align="right" valign="middle" >534.149</td><td width="20%" align="right" valign="middle" >440.302</td></tr><tr><td width="62%" ></td><td width="18%" align="right" valign="middle" >529.574</td><td width="20%" align="right" valign="middle" >441.113</td></tr><tr><td width="62%" ></td><td width="18%" colspan="1" align="right" valign="middle" >2021 (EUR)</td><td width="20%" colspan="1" align="right" valign="middle" >2020 (EUR)</td></tr><tr><td width="62%" colspan="1" align="left" valign="middle" >Deferred tax, beginning of year</td><td width="18%" align="right" valign="middle" >441.113</td><td width="20%" align="right" valign="middle" >368.652</td></tr><tr><td width="62%" colspan="1" align="left" valign="middle" >Deferred tax of the year, income statement</td><td width="18%" align="right" valign="middle" >88.461</td><td width="20%" align="right" valign="middle" >72.461</td></tr><tr><td width="62%" colspan="1" align="left" valign="middle" >Provision for deferred tax 31 December 2021</td><td width="18%" align="right" valign="middle" >529.574</td><td width="20%" align="right" valign="middle" >441.113</td></tr><tr><td colspan="3"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Disclosure of contingent assets</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The Company has joint and several liabilities with the sister</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >companies Quickpay ApS and 3dsecure.io ApS for tax of the</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >groups total taxable income.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >From time to time, the company is party to legal disputes. In</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >respect of pending disputes, it is Management’s opinion that</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >the outcome of these disputes will not affect the company’s</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >financial position apart from the receivables and liabilities</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >recognised in the statement of financial position at 31</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >December 2021.</td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>JOINT LIABILITY</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The company is jointly and severally liable together with the</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >other group companies in the joint taxable group for tax</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >on the group’s joint taxable income and for certain possible</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >withholding taxes, such as dividend tax, etc.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Disclosure of mortgages and collaterals</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Clearhaus has depositedEUR 2,526,669at dedicated</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >accounts at VISA and Mastercard as a collateral for any risk</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >VISA and Mastercard may have.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Despite from the above, the company does not have any other</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >pawnings or guarantees other than what is already recognized</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >in the financial statement.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Related parties</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The company’s related parties include</td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>CONTROLLING INTEREST</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Unzer Group GmbH,Vangerowstraße 18, 69115 Heidelberg,</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Germany, is the main shareholder.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >KKR European Fund V (USD) ScSp,9 West 57thStreet, Suite</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >4200, New York, NY 10019, is the ultimate parent company.</td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The company is part of the financial group statement for the</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >ultimate parent companyUnzer Group GmbH,</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Vangerowstraße 18, 69115 Heidelberg, Germany.</td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>TRANSACTIONS WITH RELATED PARTIES</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The company did not carry out any material transactions that</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >were not concluded on market conditions. According to</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >section 98c, subsection 7 of the Danish Financial Statements</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Act information is given only on transactions that were not</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >performed on common market conditions.</td></tr></table> Årsrapport 33749996 Clearhaus P.O.Pedersens Vej 14 8200 Aarhus N xWizard version 1.1.1123.1, by EasyX Aps. www.easyx.eu 2020-01-01 2020-12-31 Revisionspåtegning Grundlag for konklusion Konklusion Reporting class C, large enterprise Søren Soltveit Thomas Jensen Claus Methmann Christensen Claus Methmann Christensen 45278221 10424980 5539284 -207922 9.157 0.111 0.88 13815528 3359686 -22909 -45698 0.848 0.168 -0.005 11896783 3107933 197620 -50722 0.491 0.189 0.044 12911284 3886701 1538129 -10220 2.797 0.152 0.421 Operating profit/loss before depreciation and amortisation/EBITDA 14274223 Operating profit/loss before depreciation and amortisation/EBITDA 7697694 Operating profit/loss before depreciation and amortisation/EBITDA 1111602 Operating profit/loss before depreciation and amortisation/EBITDA 643840 Operating profit/loss before depreciation and amortisation/EBITDA 2490474 Operating profit/loss of main activities 13441411 Operating profit/loss of main activities 7163347 Operating profit/loss of main activities 667936 Operating profit/loss of main activities 332243 Operating profit/loss of main activities 2258021 Financial income and expenses, net 642828 Financial income and expenses, net -78925 Financial income and expenses, net -574466 Financial income and expenses, net -78858 Financial income and expenses, net -276018 Profit/loss for the year before tax 14084239 Profit/loss for the year before tax 7084422 Profit/loss for the year before tax 93472 Profit/loss for the year before tax 253385 Profit/loss for the year before tax 1982003 114579460 12717612 201831 761940 1666010 2629782 102765 664482 2526669 0 3191151 5923698 4255135 28892897 321501 33469533 75186229 108655762 440000 1893802 10383810 529574 529574 0 0 3135913 0 3023076 95173284 101332274 114579460 75186229 72147907 7991260 27353730 4599627 24413357 4622537 29190833 4424917 45278221 33173492 1679749 10424980 2727286 534347 7163347 27299 68456 174680 7084422 1545138 5539284 534347 1545138 -23244 -15672171 31649833 -895000 -207922 -20951 18712 -2147651 -3252812 0 177538 177538 28574559 289896 912292 1089082 2291270 219015 617373 2283111 43319 2943803 5454088 2317390 23659787 189550 26166727 40527092 66693819 72147907 440000 1509749 6041511 7991260 441113 441113 257133 257133 2137190 963209 1472677 58885325 63458401 72147907 40527092 Unrealised exchange gains, reversed 61717 Unrealised exchange gains, reversed 22695 facility) 36323474 facility) 39703784 Instalments on loans -257133 Instalments on loans 0 40527092 11952533 58 43 785110 624000 8417987 0 1793597 4915284 BDO Statsautoriseret revisionsaktieselskab Thors Bakke 4, 2, 8900 Randers C 20222670 Søren Rasborg State Authorised Public Accountant mne27742 Søren Busch State Authorised Public Accountant mne46256 20222670 BDO Statsautoriseret revisionsaktieselskab