273669882024-01-012024-12-31273669882024-01-012024-12-311273669882024-01-012024-12-311273669882024-01-012024-12-311273669882024-01-012024-12-312273669882024-01-012024-12-313273669882024-01-012024-12-312273669882024-12-31273669882023-12-31fsa:ContributedCapitalMember273669882023-12-31fsa:ReserveForCurrentValueOfHedgingMember273669882023-12-31fsa:ReserveForNetRevaluationAccordingToEquityMethodMember273669882023-12-31fsa:ReserveForDevelopmentExpenditureMember273669882023-12-31fsa:RetainedEarningsMember273669882024-01-012024-12-31fsa:ContributedCapitalMember273669882024-01-012024-12-31fsa:ReserveForNetRevaluationAccordingToEquityMethodMember273669882024-01-012024-12-31fsa:RetainedEarningsMember273669882024-01-012024-12-31fsa:ReserveForCurrentValueOfHedgingMember273669882024-01-012024-12-31fsa:ReserveForDevelopmentExpenditureMember273669882024-12-31fsa:ContributedCapitalMember273669882024-12-31fsa:ReserveForCurrentValueOfHedgingMember273669882024-12-31fsa:ReserveForNetRevaluationAccordingToEquityMethodMember273669882024-12-31fsa:ReserveForDevelopmentExpenditureMember273669882024-12-31fsa:RetainedEarningsMember273669882023-12-31273669882023-01-012023-12-31iso4217:DKKxbrli:pureDanske BankUnusual circumstances affecting recognition and measurementThe financial position at 31 December 2024 of the Company and the results of the activities of the Company for the financial year for 2024 have not been affected by any unusual events. 906446000Stensbjergsvej 1, 1. sal911598000-186580004600 Køge308720001796000PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab1236000770793000 Strandvejen 44741351000917630002900 Hellerup 5439500064344000337712318621600080169000The Board of Directors and the Executive Board have today considered and approved the annual report of GLOBUS WINE A/S for the financial year 01.01.2024 - 31.12.2024.898010008333000The annual report is presented in accordance with the Danish Financial Statements Act.8348000498000In our opinion, the financial statements give a true and fair view of the Entity’s financial position at 31.12.2024 and of the results of its operations for the financial year 01.01.2024 - 31.12.2024.781000-24656000We believe that the management commentary contains a fair review of the affairs and conditions referred to therein.-127140001637000We recommend the annual report for adoption at the Annual General Meeting.21880001206000Køge239500017198000Tomi Janne Halttunen21415000-39011000Stein Alexander Eriksen-29546000-9194000chairman-6282000-29817000Hannu Matinpoika Vähämurto-232640003590000Sara Johanna Sundén5827000148000To the shareholders of GLOBUS WINE A/S03738000In our opinion, the Financial Statements give a true and fair view of the financial position of the Company at 31 December 2024, and of the results of the Company’s operations for the financial year 1 January - 31 December 2024 in accordance with the Danish Financial Statements Act. We have audited the Financial Statements of Globus Wine A/S for the financial year 1 January - 31 December 2024, which comprise income statement, balance sheet, statement of changes in equity and notes, including a summary of significant accounting policies (“the Financial Statements”). 582700038426000We conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the “Auditor’s responsibilities for the audit of the Financial Statements” section of our report. We are independent of the Company in accordance with the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.350040004361000Management is responsible for Management’s commentary. Our opinion on the Financial Statements does not cover Management’s commentary, 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 Management’s commentary and, in doing so, consider whether Management’s commentary 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 Management’s commentary provides the information required under the Danish Financial Statements Act. Based on the work we have performed, in our view, Management’s commentary is in accordance with the Financial Statements and has been prepared in accordance with the requirements of the Danish Financial Statements Act. We did not identify any material misstatement in Management’s commentary.3641000467600043050000Management 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.510000047463000480500005107000Our objectives are to obtain reasonable assurance about whether the Financial Statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Financial Statements.​​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 disclosures, and whether the Financial Statements represent the underlying transactions and events in a manner that gives a true and fair view.Plan and perform the audit to obtain sufficient appropriate audit evidence regarding the consolidated financial ​information of the entities or business units as a basis for forming an opinion on the Financial Statements. We are responsible for the direction, supervision and review of the audit work performed. We remain solely responsible for our audit opinion.​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.68900005107000689000056308000Copenhagen6076700045593000Flemming Eghoff59748000165492000mne30221134620000211085000State Authorised Public Accountant19436800038135000Kenneth Østergaard7762800018649000mne47262750350001879000State Authorised Public Accountant2734000414000Financial highlights2024 DKK'0002023 DKK'0002022 DKK'0002021 DKK'0002020 DKK'000Key figuresRevenue911,598906,446813,247726,419695,851Gross profit/loss86,21664,34479,326114,84796,536Operating profit/loss(12,714)(24,656)(6,304)43,09831,811Net financials(19,020)(15,992)(4,691)(3,361)(4,194)Profit/loss for the year(23,264)(29,817)(6,963)32,87715,047Total assets411,858342,793316,919257,909211,168Investments in property, plant and equipment7,1372,0721,61112,7373,569Equity(4,518)15,80649,38169,50844,012Average number of employees14314012710593RatiosGross margin (%)9.467.109.7515.8113.87EBIT margin (%)(1.39)(2.72)(0.78)5.934.57Net margin (%)(2.55)(3.29)(0.86)4.532.16Equity ratio (%)(1.10)4.6115.5826.9520.84Financial highlights are defined and calculated in accordance with the current version of "Recommendations & Ratios" issued by the CFA Society Denmark.Gross margin (%) :Gross profit/loss * 100 RevenueEBIT margin (%):Operating profit/loss * 100 RevenueNet margin (%) :Profit/loss for the year * 100 RevenueEquity ratio (%) :Equity * 100 Total assets60000312000Primary activitiesThe Company's main activity is filling wine into bag-in-boxes and bottles. The wines are either sold as Globus Wine's own brands or filled on behalf of third-party brand owners.126600059389000Development in activities and financesRevenue increased by DKK 5,2 million to DKK 911.6 million against DKK 906.4 million last year. Loss before tax decreased by DKK 9.5 million to DKK -29.5 million against DKK -39.0 million last year. Loss after tax decreased 6.6 million to DKK -23.3 million from DKK -29.8 million last year. Equity of DKK -4.5 million as per 31. December 2024 is DKK 20.3 million lower than last year. The Company has in the fiscal year 2024 realized a loss and the equity is negative at 31 December 2024. For more information please see note 1.15672300016011000Profit/loss for the year in relation to expected developmentsThe company has not met the expectations for the year 2024. Management considers the top line result of the Company overall satisfactory, however unsatisfactory when considering the bottom-line as the expectations were not met. The loss before tax in 2024, -29.5 million did not meet the expectations for a profit of 40-50 million, but considering the market conditions the management finds the 2024 topline to be satisfactory as revenue of 911.6 million was in line with the expected revenue was 900 – 940 million. The 2024 financial bottom-line result 2024 was a disappointing year financially for the company as several key events impacted the bottom-line result. Firstly, result for 2024 have been costly due to integrating and implementing new ERP systems and processes. Secondly the macro-economic and political turmoil impacted the predictability of the supply chain throughout the world, leading suppliers stocking up and combining shipments to us in periods during to fiscal year. This led to lower margins than expected. Our top line strategy continues to impress & profitability is increasing Strengthening of our customer relations in combination with targeting cost efficiencies in production and sourcing will continue to increase the profitability. This will further strengthen our leading service platform and value proposition to customers. In marketing, our continued strengthening of market insight and local market understanding will provide a strong position to help our customers build value with new concepts and products in the wine category. 0286485000Uncertainty relating to recognition and measurementRecognition and measurement in the Annual Report have not been subject to any uncertainty.351091000342793000OutlookFor 2025, the company expects a revenue in the range DKK 700-800 million and profit before interest and tax of DKK 30-40 million. Positive cash flows from operating activities are expected. ​​However, the change in the customer portfolio combined with improved production planning is expected to enhance profitability despite the lower revenue. ​​In 2025 we will continue to intensify the strategic focus on building brands and realize organic growth in the Northern European markets for both own and partner brands. We will continue the focus on operational excellence and efficiency which we started to improve during 2024 and this is expected to lead to improved margin. ​​The focus on improved margins is leading to a more focused production that reduces sales revenue due to the fact on higher margins. ​​Several cost elements coming from the ERP implementation is not expected to recure in 2025 and this is also factors that will improve the profitability. ​​We furthermore expect to benefit from the initiatives implemented in 2023 and 2024 as we continue to serve our customers with a joint ambition of continuing adding value and innovation to the wine category. ​​The benefit of being part of the Anora Group will continue to lead to increased profitability as going through our operation. Ultimately, we believe the investments and initiatives made will lead to a positive bottom line for 2025. 4118580001725000 Use of financial instrumentsDue to the Group's activities abroad, profit, cash flows and equity are affected by the development in ex rates for several currencies, primarily USD, SEK, AUD, and ZAR. To a certain extent, the Group hedges currency risks by entering forward exchange contracts and by making purchases and sales in the same currency. 1725000-569000Research and development activitiesGlobus Wine A/S does not carry on any research or development activities in the traditional sense but has in the financial year focused on product and business development.23790004733000Statutory report on corporate social responsibilityThe Group works actively with social responsibility with focus on human rights, social and employee conditions, anti-corruption as well as climate- and environmental conditions. In regard to the statutory requirement of the corporate social responsibility reporting we refer to the CSR-report Anora Group Oyj on https://downloads.ctfassets.net/197jjpt91b9r/7nWanSs1qmS9DU8pXmXHpb/bd67dd4181fbbeeecb80c062d1bf40d2/anora-annual-report-2024.pdf6703000115000Statutory report on data ethics policyThe board has not adopted a specific policy for data ethics but has taken appropriate measure to ensure ethic data processing and has implemented protective measures to ensure the storage of data. It is management’s assessment that the organization’s maturity in relation to the handling of personal data in accordance with the GDPR and the work with IT at a more general level is at an appropriate level. All employees are informed about the importance of adhering to the GDPR and other related laws, and are receiving training in these topics.09802000This annual report has been presented in accordance with the provisions of the Danish Financial Statements Act governing reporting class C enterprises (large).The accounting policies applied to these financial statements are consistent with those applied last year.The financial statements are presented in T.DKK.-1532500015806000The financial statements are presented in T.DKK.-4518000160000000Consolidated financial statementsReferring to section 112(1) of the Danish Financial Statements Act, no consolidated financial statements have been prepared.2800000004170000Recognition and measurementAssets are recognised in the balance sheet when it is probable as a result of a prior event that future economic benefits will flow to the Entity, and the value of the asset can be measured reliably. Liabilities are recognised in the balance sheet when the Entity has a legal or constructive obligation as a result of a prior event, and it is probable that future economic benefits will flow out of the Entity, and the value of the liability can be measured reliably. On initial recognition, assets and liabilities are measured at cost. Measurement subsequent to initial recognition is effected as described below for each financial statement item. Anticipated risks and losses that arise before the time of presentation of the annual report and that confirm or invalidate affairs and conditions existing at the balance sheet date are considered at recognition and measurement. Income is recognised in the income statement when earned, whereas costs are recognised by the amounts attributable to this financial year.0164170000Foreign currency translationOn initial recognition, foreign currency transactions are translated applying the exchange rate at the transaction date. Receivables, payables and other monetary items denominated in foreign currencies that have not been settled at the balance sheet date are translated using the exchange rate at the balance sheet date. Exchange differences that arise between the rate at the transaction date and the rate in effect at the payment date, or the rate at the balance sheet date, are recognised in the income statement as financial income or financial expenses. 280000000122802000Derivative financial instrumentsOn initial recognition in the balance sheet, derivative financial instruments are measured at cost and subsequently at fair value, which has been calculated as the discounted value of expected future net cash flows by using an approximate risk-free interest rate adjusted for any factors that a potential market participant would attribute value to when acquiring the instrument. Derivative financial instruments are recognised in other receivables or other payables.​​Changes in the fair value of derivative financial instruments classified as and complying with the requirements for​hedging future transactions are recognised directly in the reserve for fair value adjustments of hedging instruments in equity. When the hedged transactions are realised, the accumulated changes are recognised as part of cost of the relevant financial statement items. 983050003698000238600036317000RevenueThe 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 transfer of the most significant rewards and risks to the buyer has taken place and provided that the income can be reliably measured and payment is expected to be received. Revenue is measured at the fair value of the agreed consideration, including excise taxes excluding VAT and taxes charged on behalf of third parties. All discounts and rebates granted are recognised in revenue.35685000162817000Changes in inventories of finished goods and work in progressChanges in inventories of finished goods and work in progress comprise decreases or increases for the financial year in inventories of finished goods. This item includes normal writedowns of such inventories. Changes in inventories of raw materials are included in costs of raw materials and consumables.136376000326987000Other operating incomeOther operating income and operating expenses comprise items of a secondary nature relative to the entity's core activities, including gains or losses on the sale of fixed assets.416376000342793000Cost of salesCost of sales includes the cost of goods used in generating the year's revenue. 411858000140Other external expensesOther external expenses include the year's expenses relating to the Company's core activities, including expenses relating to distribution, sale, advertising, administration, premises, bad debts, payments under operating leases, etc. 1725000-29817000Staff costsStaff costs include wages and salaries, including compensated absence and pensions, as well as other social security contributions, etc. made to the entity's employees. -569000Depreciation, amortisation and impairment lossesDepreciation, amortisation and impairment losses relating to property, plant and equipment and intangible assets comprise depreciation, amortisation and impairment losses for the financial year.4733000Other operating expensesOther operating expenses comprise expenses of a secondary nature as viewed in relation to the Entity’s primary activities, including loss from the sale of intangible assets and property, plant and equipment.115000Income from investments in group enterprisesThe item includes the entity's proportionate share of the profit/loss for the year in subsidiaries after elimination of intra-group income or losses and net of amortisation and impairment of goodwill and other excess values at the time of acquisition.9802000Other financial incomeFinancial income are recognised in the income statement at the amounts that relate to the financial reporting period. The items comprise interest income, realised and unrealised exchange gains on foreign currency ​transactions and surcharges and allowances under the advance-payment-of-tax scheme, etc.0Other financial expensesFinancial expenses are recognised in the income statement at the amounts that relate to the financial reporting period. The items comprise interest expenses, financial expenses related to finance leases, realised and unrealised exchange losses on foreign currency transactions and surcharges and allowances under the advance-payment-of-tax scheme, etc. 5000Tax on profit/loss for the yearTax for the year, which consists of current tax for the year and changes in deferred tax, is recognised in the income statement by the portion attributable to the profit for the year and recognised directly in equity by the portion attributable to entries directly in equity.The Entity is jointly taxed with all Danish group enterprises. The current Danish income tax is allocated among the jointly taxed entities proportionally to their taxable income (full allocation with a refund concerning tax losses).0Intellectual property rights etcOther intangible assets include development projects and other acquired intangible rights, including software licences, distribution rights and development projects. Other intangible assets are measured at cost less accumulated amortisation and impairment losses.Development projects on clearly defined and identifiable products and processes, for which the technical rate of utilisation, adequate resources and a potential future market or development opportunity in the enterprise can be established, and where the intention is to manufacture, market or apply the product or process in question, are recognised as intangible assets. Other development costs are recognised as costs in the income statement as incurred. When recognising development projects as intangible assets, an amount equalling the costs incurred less deferred tax is taken to equity in the reserve for development costs that is reduced as the development projects are amortised and written down. ​ Completed development projects are amortised on a straight-line basis using their estimated useful lives which are determined based on a specific assessment of each development project. If the useful life cannot be estimated reliably, it is fixed at 10 years. For development projects protected by intellectual property rights, the maximum period of amortisation is the remaining duration of the relevant rights. The amortisation periods used are 3-5 years. Intellectual property rights acquired are measured at cost less accumulated amortisation. Patents are amortised on a straight-line basis over their remaining duration, and licences are amortised over the term of the agreement.​ ​Intellectual property rights etc are written down to the lower of recoverable amount and carrying amount.213000Property, plant and equipmentProperty, plant and equipment are measured at cost less accumulated depreciation and impairment losses. ​ ​Cost comprises the acquisition price, costs directly attributable to the acquisition and preparation costs of the asset until the time when it is ready to be put into operation. ​ ​The basis of depreciation is cost less estimated residual value after the end of useful life. Straight-line depreciation is made on the basis of the following estimated useful lives of the assets:Useful life Plant and machinery10-40 yearsOther fixtures and fittings, tools and equipment3-10 yearsLeasehold improvements3-20 yearsFor leasehold improvements and assets subject to finance leases, the depreciation period cannot exceed ​the contract period. ​​Estimated useful lives and residual values are reassessed annually. ​Items of property, plant and equipment are written down to the lower of recoverable amount and carrying ​amount.-2130003779000Investments in group enterprisesInvestments in subsidiaries are measured, using the equity method, at the Parent Company's proportionate share of such entities' equity plus goodwill on consolidation and intra-group losses and less intra-group gains and negative goodwill, if any. Investments in entities whose net asset value is negative are measured at DKK 0. The entity's proportionate share of a deficit on equity, if any, is set off against receivables from the investment in so far as the deficit is irrecoverable. Amounts in excess thereof are recognised under ‘Provisions' in so far as the Parent Company has a legal or constructive obligation to cover the deficit. On initial recognition, equity investments in subsidiaries are measured at cost. The cost is allocated in accordance with the acquisition method. 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 subsidiaries measured at net asset value are subject to impairment test requirements if there is any indication of impairment.0InventoriesInventories 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 deter mined 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. ​ ​Goods for resale are measured at cost, which comprises the cost of acquisition plus delivery costs as well as other expenses directly attributable to the acquisition. 00ReceivablesReceivables are measured at amortised cost, usually equalling nominal value less writedowns for bad and doubtful debts. The Company has chosen IAS 39 as interpretation for impairment of financial receivables. 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.831000Deferred taxDeferred tax is recognised on all temporary differences between the carrying amount and the tax-based value of assets and liabilities, for which the tax-based value is calculated based on the planned use of each asset. Deferred tax assets, including the tax base of tax loss carryforwards, are recognised in the balance sheet at their estimated realisable value, either as a set-off against deferred tax liabilities or as net tax assets.0PrepaymentsPrepayments comprise incurred costs relating to subsequent financial years. Prepayments are measured at cost.0CashCash comprises cash in hand and bank deposits.0Operating leasesLease payments on operating leases are recognised on a straight-line basis in the income statement over the term of the lease.-115000Other financial liabilitiesOther financial liabilities are measured at amortised cost, which usually corresponds to nominal value.115000Cash flow statementReferring to section 86(4) of the Danish Financial Statements Act, the Entity has prepared no cash flow statement as such statement is included in the consolidated cash flow statement of Anora Group Plc.0Ikke væsentlig usikkerhed vedr. fortsat drift2188000true-25452000Grundlag for konklusion1725000Konklusion23790002025-05-2067030002025-05-200Regnskabsklasse C, stor virksomhed-153250002023-01-012023-12-315000Køge0Køge37790004600831000Revisionspåtegning02024-12-312024-01-011 Uncertainty related to going concernThe company has a negative equity as a result of operating losses from previous years. The company expects to restore the equity via ongoing profits. To ensure the ongoing operations, the company will continue to work on its strategic plan to strengthen customer relations. This, in combination with targeting cost efficiencies in production and sourcing, will continue to increase the profitability. Furthermore, this will strengthen our leading service platform and value proposition to customers. In marketing, our continued strengthening of market insight and local market understanding will provide a strong position to help our customers build value with new concepts and products in the wine category. In addition, the ultimate parent company has provided long term loan and signed a letter of support to ensure that the company has sufficient liquidity to continue as a going concern. On this basis, the Management assesses that there is sufficient liquidity available, and that the Company is able to pay actual and future liabilities as they become due. 2 Events after the balance sheet dateNo events have occurred after the balance sheet date to this date, which would influence the evaluation of this annual report.13 RevenueAll revenue relates to the wine bottling activity. The Group has not disclosed the breakdown of revenue by geographical segments, see section 96(1) of the Danish Financial Statements Act, as Management is of the opinion that such disclosure could be highly detrimental to the Group.Bragesvej4 Other operating income2024 DKK'0002023 DKK'000Administration fee481780Salary reimbursement7401,016Profit from the sale of property, plant and equipment1501,2361,796GLOBUS WINE A/S5 Cost of salesSpecial items In 2024, Management has decided to align the Company’s inventory valuation principles with the Group’s accounting policy on inventory write-downs. The change has resulted in a inventory write-down of DKK 15.4 million, recognized under Cost of Sales. The write-down is disclosed as a special item in accordance with section 52(3) of the Danish Financial Statements Act ("Årsregnskabsloven") to ensure transparency regarding significant non-recurring transactions.273669886 Fees to the auditor appointed by the Annual General MeetingWith reference to section 96(3) of the Danish Financial Statements Act, audit fees are not disclosed as audit fees are disclosed for the Group as such in the consolidated financial statements of Anora Group Plc. 339635567 Staff costs2024 DKK'0002023 DKK'000Wages and salaries81,37072,466Pension costs7,4176,636Other social security costs1,0141,06789,80180,169Average number of full-time employees143140By reference to section 98b(3), (ii), of the Danish Financial Statements Act, remuneration to the Management is not disclosed.2300 København S143Weidekampsgade 68 Depreciation, amortisation and impairment losses2024 DKK'0002023 DKK'000Amortisation of intangible assets1,8071,083Depreciation of property, plant and equipment6,5417,2508,3488,333Deloitte Statsautoriseret Revisionspartnerselskab9 Other financial income2024 DKK'0002023 DKK'000Financial income from group enterprises1,942853Other interest income0353Exchange rate adjustments45302,3951,206Årsrapport10 Other financial expenses2024 DKK'0002023 DKK'000Financial expenses from group enterprises11,3335,907Other interest expenses9,6039,739Exchange rate adjustments01,141Other financial expenses47941121,41517,1982025-06-2711 Tax on profit/loss for the year2024​DKK'0002023​DKK'000Change in deferred tax(1,687)(9,194)Refund in joint taxation arrangement(4,595)0(6,282)(9,194)Stein Alexander Eriksen12 Proposed distribution of profit and loss2024 DKK'0002023 DKK'000Retained earnings(23,264)(29,817) (23,264)(29,817)-2326400013 Intangible assetsAcquired intangible assets DKK'000Development projects in progress DKK'000Cost beginning of year8,205148Transfers148(148)Additions4,6680Disposals(1,595)0Cost end of year11,4260Amortisation and impairment losses beginning of year(4,615)0Amortisation for the year(1,807)0Reversal regarding disposals8230Amortisation and impairment losses end of year(5,599)0Carrying amount end of year5,827014 Development projectsCompleted development projects and development projects in progress include the development of tecnology which automate various processes within the production of wine. The development projects only comprise external costs and was completed in 2024.15 Property, plant and equipmentPlant and machinery​DKK'000Other fixtures and fittings, tools and equipment​DKK'000Leasehold improvements​DKK'000Property, plant and equipment in progress​DKK'000Cost beginning of year76,3556,5216,0700Transfers0(1)00Additions1,92801095,100Disposals(15)000Cost end of year78,2686,5206,1795,100Depreciation and impairment losses beginning of year(37,929)(2,160)(1,394)0Transfers0100Depreciation for the year(5,341)(720)(480)0Reversal regarding disposals6000Depreciation and impairment losses end of​year(43,264)(2,879)(1,874)0Carrying amount end of year35,0043,6414,3055,10016 Financial assetsInvestments in group enterprises DKK'000Cost beginning of year374Disposals(187)Cost end of year187Revaluations beginning of year4,733Exchange rate adjustments(5)Share of profit/loss for the year2,188Reversal regarding disposals(213)Revaluations end of year6,703Carrying amount end of year6,890Investments in subsidiariesRegistered inCorporate formEquity interest %Globus Wine Germany GmbHHarrislee, GermanyGmbH100.0017 Deferred tax2024​DKK'0002023​DKK'000Intangible assets(1,279)(785)Property, plant and equipment(5,267)(5,433)Inventories(4,984)(2,338)Tax losses carried forward14,26410,435Deferred tax2,7341,879​​Changes during the year2024​DKK'0002023​DKK'000Beginning of year1,879(6,516)Recognised in the income statement6,2829,194Recognised directly in equity(831)1,074Received joint taxation contribution receivables(4,595)(1,873)Other regulations(1)0End of year2,7341,879​Deferred tax assetsAs it is expected to generate taxable income within the next couple of years the company has recognized a deferred tax asset.18 PrepaymentsPrepayments comprise incurred costs relating to subsequent financial years. 19 Share capitalNumberPar value DKK'000Recorded par value DKK'000Share capital1,72511,7251,7251,725The share capital has not changed for 5 years.20 Non-current liabilities other than provisionsDue after more than 12 months 2024 DKK'000Payables to group enterprises280,000280,00021 Financial instrumentsOther recevables and payabels include positive and negative fair value of derivative financial instruments of a net ​positive DKK 3,049 thousand. Derivative financial instruments have been entered into to hedge exchange rate exposure of future purchases for ZAR, AUD, EUR and USD. Forward exchange contracts expire between January 2025 and December 2025.22 Unrecognised rental and lease commitments2024 DKK'0002023 DKK'000Liabilities under rental or lease agreements until maturity in total165,007171,001Rent and lease liabilities include rent obligations totalling DKK 165,007 thousand in rent agreements with a contract period of 1-14 years.23 Assets charged and collateralBank guarantee of DKK 40 thousand has been provided as bank guarantee and security for the Danish Authorities. This guarantee is mandatory for companies with activities including production of alcohol. Bank guarantees totaling DKK 5,571 thousand have been put up as security for debt to third parties. A company charge of DKK 70,000 thousand has been provided as security for the Group's overall engagement with credit institutions including cash pool accounts, secured on receivables, inventories, items of property, plant and equipment and intangible assets at a total carrying amount of DKK 318,451 thousand at 31 December 2024. Collateral provided for group enterprisesJoint and several surety has been put up as security for the subsidiaries bank commitments at 31 December 2024. The bank loan amounts to DKK 0. 24 Related parties with controlling interestMerlot HoldCo ApS, Køge (CVR.nr. 38125494) owns all shares in the Entity, thus exercising control. The ultimate parent is Anora Group Plc, P.O. Box 350, 00101 Helsinki, Finland.25 Non-arm’s length related party transactionsOnly related party transactions not conducted on an arm’s length basis are disclosed in the annual report.​ No such transactions have been conducted in the financial year.26 Group relationsName and registered office of the Parent preparing consolidated financial statements for the largest group: Anora Group Plc, P. O. Box 350, 00101 Helsinki, FinlandName and registered office of the Parent preparing consolidated financial statements for the smallest group: Anora Group Plc, P. O. Box 350, 00101 Helsinki, FinlandCopies of the consolidated financial statements of Anora Group Plc may be ordered at the following address: P. O. Box 350, 00101 Helsinki, Finland