Årsrapport 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Strandvejen 44 2900 Hellerup 2021-01-01 2020-01-01 2021-12-31 2020-12-31 89832314 DNV Denmark A/S Tuborg Parkvej 8, 2. 2900 Hellerup 1982-10-20 Gentofte 39 45 48 00 39 45 48 01 www.dnv.com Danske Bank A/S KPMG Statsautoriseret Revisionspartnerselskab 25578198 Dampfærgevej 28 2100 København Ø Danmark 2022-05-30 Thina Ytterhorn Regnskabsklasse C, stor virksomhed Revisionspåtegning The Executive Board and Board of Directors have today considered and adopted the Annual Report of DNV Denmark A/S for the financial year 1 January - 31 December 2021. The Annual Report is prepared in accordance with the Danish Financial Statements Act. In our opinion the Financial Statements give a true and fair view of the financial position at 31 December 2021 of the Company and of the results of the Company operations for 2021. In our opinion, Management's Review includes a true and fair account of the matters addressed in the Review. We recommend that the Annual Report be adopted at the Annual General Meeting. Copenhagen 2022-05-30 Kim Sandgaard-Mørk CEO Thina Elisabeth Ytterhorn Chairman Kim Sandgaard-Mørk Jesper Jakobsen Schultz Mads Clausen Andersen Staff Representative Bente Vestergaard Staff Representative To the Shareholder of DNV Denmark A/S Opinion We have audited the financial statements of DNV Denmark A/S for the financial year 1 January – 31 December 2021 comprising income statement, balance sheet, statement of changes in equity, and notes, including accounting policies. The financial statements are prepared in accordance with the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the Company's assets, liabilities and financial position at 31 December 2021 and of the results of the Company's operations for the financial year 1 January – 31 December 2021 in accordance with the Danish Financial Statements Act. Basis for Opinion We conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the "Auditor's responsibilities for the audit of the financial statements" section of our report. We 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. Management is responsible for the preparation of financial statements that give a true and fair view in accordance with the Danish Financial Statements Act and for such internal control, that Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the Financial Statements, Management is responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting in preparing the Financial Statements unless Management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. Our objectives are to obtain reasonable assurance 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. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Management is responsible for Management’s Review. Our opinion on the Financial Statements does not cover Management’s Review, and we do not express any form of assurance conclusion thereon. In connection with our audit of the Financial Statements, our responsibility is to read Management’s Review and, in doing so, consider whether Management’s Review is materially inconsistent with the Financial Statements or our knowledge obtained during the audit, or otherwise appears to be materially misstated. Moreover, it is our responsibility to consider whether Management’s Review provides the information required under the Danish Financials Statements Act. Based on the work we have performed, we conclude that the Management's review is in accordance with the financial statements and has been prepared in accordance with the requirements of the Danish Financial Statement Act. We did not identify any material misstatement of the Management's review. Copenhagen 2022-05-30 Copenhagen 2022-05-30 KPMG Statsautoriseret Revisionspartnerselskab Kenn Wolff Hansen statsautoriseret revisor mne30154 Seen over a five-year period, the development of the Company is described by the following financial highlights: 380127000 341550000 351856000 219397000 191224000 186680000 -510000 -664000 -121000 311000 -788000 32129000 14568000 16390000 172761000 153191000 195244000 68680000 68551000 53983000 1240000 2491000 0 0 286000 177 189 193 11 14 11.4 6.1 6.3 24.3 23.8 25.1 13.6 11.4 24.5 36.3 39.8 44.7 27.6 54.8 52.7 46.8 23.8 27.9 Key activities DNV Denmark A/S is, as a wholly owned subsidiary of DNV AS, one of the world's leading independent assurance companies. The company is committed to ensuring life, property, and environment as a leading supplier of classification, certification, and consulting. The Company assists companies and organizations with risk management and energy transitions in a range of segments and industries, including the maritime industry and energy system industries, as well as authorities and private organizations. Development in the year The income statement of the Company for 2021 shows a profit of TDKK 32,869 and at 31 December 2021 the balance sheet of the Company shows equity of TDKK 42,953. In 2021 the Company experienced a 7% increase in revenue, mainly because 2020 results were affected with COVID-19 pandemic. However, the Company realized a decrease in EBITA in comparison to previous year, mainly due to 11% increase in external expenses and 9% increase in staff expenses. Maritime DNV Maritime Denmark is part of Maritime Region Northern Europe. Services offered include classification of ships and offshore units, certification of material and components as well as advisory services. 2021 saw a strong recovery on the newbuilding market, not the least in the container segment where high freight rates fueled the ordering. Despite of the strong newbuilding market DNV saw a minor contraction on revenue, mainly driven by a continuous high price pressure on ships in operation. Even though Covid effects can still be seen the focus has throughout the year shifted towards de-carbonization with the increased pressure from both regulators and other stake holders such as cargo owners and banks for ships that are able to meet increasingly stringent environmental requirements. Energy Systems The Business Area Energy Systems is a merger of the formers BA’s Energy and Oil & Gas. Energy Systems in Denmark consist of a Regional unit named Advisory and Verification and a Global business unit Renewables certification. The Advisory and Verification in Denmark consist of 70 experts in various offices, plus some on international assignments. Denmark has a very strong and ambitious strategy on the energy transition that has resulted in growth in renewable energy, including offshore wind, and also power-to-X, carbon storage, gas transmission and decarbonization of offshore oil and gas. The Danish upstream market has continued with high activities on ongoing CAPEX projects and we see new projects maturing preparing for further development. Reliability of energy has become even more important following the situation in Ukraine, including independence of gas from Russia. Gas supply within Europe is needed including projects as Tyra Redevelopment, Baltic Pipe, biogas and PtX/hydrogen and new infrastructure like LNG import terminals and pipeline grids. Digitalization and Cyber Security continues to be important for the energy industry. Renewables Certification in Denmark with more than 70 people (out of 220 people globally) operates internationally and the Danish market contributes with around 40% of the global Revenue. Our key customers comprise Vestas, SGRE, Ørsted and TenneT and we grow with the market growth. 2021 was a good year for Renewables Certification with growth versus 2020 and results above target on all financial parameters. We expect significant growth also in 2022 due to the strong focus on the energy transition globally and increased numbers of planned offshore wind farms globally requiring certification. Operating risks The Company has no exposure beyond normal industry-oriented risks despite the pandemic. There are no significant risks to individual customers or collaborators beyond what is customary for the industry as well as common customer / supplier relationships. Foreign exchange risks Main foreign currency risk related to transactions in EUR and NOK. The main costs are in DKK. Historically, currency fluctuations have not created large impacts. Interest rate risks The Company has limited interest rate risk since it does not hold loans and has limited use of bank credit. Credit risks The Company is continuously following up accounts receivable and work in progress making bad debt provisions for receivables above 180 days to reduce exposure and to account for the risk exposure. Liquidity risks The Company has sound liquidity and is a part of the DNV group Cash Pool. Strategy It is the Company's goal to Safeguard Life, Property & the Environment. This year, resources have been used to continuously maintain the employees' competence and integrity. Targets and expectations for the year ahead Maritime: For 2022 we expect the revenue to be nearly the same level as 2021. Energy Systems (Merger of BA Energy and BA Oil & Gas): We expect growth of revenue in 2022 (around 15% for renewables certification and 4% for offshore infrastructure and Technology) due to the growing offshore wind market and positive outlook for Oil & Gas services combined with the positive effects of the internal merger. Research and development Research and development activities are undertaken to a significant extent by the Parent Company in Norway. External environment Focus on climate change, sustainability and safety are fundamental guiding principles in the Company's activities and vision. The Company is not required to produce green accounts. Intellectual capital resources It is the Company's aim to attract, maintain and develop employees. This year training of employees has however been challenged by the restrictions put into force to combat the pandemic. Statement of corporate social responsibility Statement on gender composition Data ethics Data Ethics information for DNV Denmark A/S is included in DNV Group AS annual financial statements. The DNV Group AS annual report and can be obtained / downloaded at: https://annualreport.dnv.com Subsequent events No events materially affecting the assessment of the Annual Report have occurred after the balance sheet date. As part of the DNV group, it is the Company's goal to take the utmost account of human rights, social conditions, minimize our environmental and climate impact, as well as participate in the fight against corruption. For more detailed information refer to the consolidated financial statements of DNV Group AS, which thus covers disclosure requirements in section 99a of the Danish Financial Statements Act. The DNV Group AS annual report can be obtained / downloaded at: https://annualreport.dnv.com DNV Denmark A/S believes that diversity among employees, including gender equality, contributes positively to the working environment and strengthens the Company's performance and competitiveness. DNV Denmark A/S is working to increase the number of female executives in the Company and, on this basis, has specific targets for the proportion of underrepresented gender and policies to ensure this. DNV Denmark A/S has been aiming for a balanced distribution of Board members elected by the general meeting with 25% women and the same target for the other management positions. Other management positions include executive management and line managers in business areas and administration. Status per December 31, 2021 is that for other management positions, the goal is met by 25%. For the board members two are women inclusive the employee elected members, and the Chairman of the Board who is a woman, which makes 40%. For the board members elected by the general meeting, 33% are women. This is considered to be a balanced distribution based on the size of the Board. In connection with recruitment and recruitment to management positions, the goal is to have both male and female candidates. The Company is also involved in diversity efforts of the Parent Company including, among others, mentoring programs and annual global summits for up-and-coming talent. Further details can be found within the Parent Company annual report. 387677000 361585000 100000 357000 174836000 155453000 212941000 206489000 169464000 155137000 818000 847000 42659000 50505000 78000 4000 588000 668000 42149000 49841000 9280000 11437000 32869000 38404000 8000 43000 8000 43000 849000 936000 652000 533000 2286000 1861000 3787000 3330000 2016000 2917000 2016000 2917000 5811000 6290000 60512000 59371000 29567000 21319000 74729000 118741000 2589000 2498000 1835000 806000 0 2652000 231000 668000 169463000 206055000 169463000 206055000 175274000 212345000 10000000 10000000 10000000 10000000 22953000 84000 10000000 67000000 42953000 77084000 0 12633000 0 12633000 280000 0 931000 1307000 67708000 55668000 14261000 17463000 4660000 0 44481000 48190000 132321000 122628000 132321000 135261000 175274000 212345000 10000000 84000 67000000 0 -67000000 22869000 10000000 10000000 22953000 10000000 Geographical segments Revenue, Scandinavia 244.987 208.619 Revenue, other countries 142.690 152.966 387.677 361.585 Business segments Energy Systems 279.991 254.725 Maritime 98.669 100.006 Digital Solutions 1.326 0 Other 7.691 6.854 387.677 361.585 152856000 138563000 15339000 15515000 1269000 1059000 169464000 155137000 3307 3307000 168 175 For 2020 remuneration to the executive board has not been disclosed in accordance with section 98 B(3) of the Danish Financial Statements Act. 35000 35000 783000 812000 818000 847000 4000 4000 74000 0 271000 383000 317000 233000 0 52000 588000 668000 10343000 10702000 -1064000 710000 -34000 25000 35000 0 9280000 11437000 174000 174000 131000 35000 166000 8000 2395000 7697000 2172000 0 355000 885000 0 -647000 0 2395000 7405000 3057000 1459000 7164000 311000 87000 236000 460000 0 -647000 0 1546000 6753000 771000 849000 652000 2286000 2917000 -901000 2016000 Selling price of work in progress 476.831 377.302 Payments received on account -514.972 -411.651 -38.141 -34.349 Recognised in the balance sheet as follows: Contract work in progress recognised in assets 29.567 21.319 Prepayments received recognised in debt -67.708 -55.668 -38.141 -34.349 Deferred tax asset at 1 January 806 1.517 Amounts recognised in the income statement for the year 1.064 -711 Adjustment of deferred tax concerning previous years (residual) -35 0 Deferred tax at 31 December 1.835 806 Prepayments consist of prepaid expenses concerning insurance and office expenses. There have been no changes in the share capital during the last 5 years. 0 12633000 0 12633000 10000000 67000000 22869000 -28596000 Rental and lease obligations Lease obligations total 24.787 20.628 Other contingent liabilities The group companies are jointly and severally liable for tax on the jointly taxed incomes etc of the Group. The total amount of corporation tax payable is disclosed in the balance sheet of the Company, as the Company acts as the administration company of the joint taxation purposes. Moreover, the group companies are jointly and severally liable for Danish withholding taxes by way of dividend tax and tax on royalty and interest payments. Any subsequent adjustments of corporation taxes and withholding taxes may increase the Company's liability. Basis Controlling interest DNV AS, Norge Parent Company DNV Group AS, Norge Ultimate Parent Company Transactions During the year, the Company had the following transactions with related parties: Sale of goods/ service to group entities TDKK 102,315 Purchase of goods/ service from group entities TDKK 138,825 lnterest expenses to group entities TDKK 271 Receivables from group enterprises TDKK 74,729 Payable to group enterprises TDKK 14,261 Ownership The following shareholder is recorded in the Company's register of shareholders as holding at least 5% of the votes or at least 5% of the share capital: DNV AS Veritasveien 1 1363 Høvik Norge The Company is included in the Group Annual Report of the DNV group of the lagest and smallest group: Name Place of registered office DNV Group AS (mindste koncern) Høvik, Norway The Group Annual Report of DNV Group AS may be obtanied at the following address: Veritasveien 1, 1363 Høvik, Norway www.dnv.com With reference to section 96 (3) of the Danish Financial Statements Act and to the audit fee included in the consolidated financial statements of DNV Group AS, the Company has not disclosed note information on audit fee. With reference to section 96 (3) of the Danish Financial Statements Act and to the audit fee included in the consolidated financial statements of DNV Group AS, the Company has not disclosed note information on audit fee. The Annual Report of DNV Denmark A/S for 2021 has been prepared in accordance with the provisions of the Danish Financial Statements Act applying to large enterprises of reporting class C . The accounting policies applied remain unchanged from last year. The Financial Statements for 2021 are presented in TDKK. With reference to section 86(4) of the Danish Financial Statements Act and to the cash flow statement included in the consolidated financial statements of DNV Group AS, the Company has not prepared a cash flow statement. Revenues are recognised in the income statement as earned. Furthermore, value adjustments of financial assets and liabilities measured at fair value or amortised cost are recognised. Moreover, all expenses incurred to achieve the earnings for the year are recognised in the income statement, including depreciation, amortisation, impairment losses and provisions as well as reversals due to changed accounting estimates of amounts that have previously been recognised in the income statement. Assets are recognised in the balance sheet when it is probable that future economic benefits attributable to the asset will flow to the Company, and the value of the asset can be measured reliably. Liabilities are recognised in the balance sheet when it is probable that future economic benefits will flow out of the Company, and the value of the liability can be measured reliably. Assets and liabilities are initially measured at cost. Subsequently, assets and liabilities are measured as described for each item below. DKK is used as the presentation currency. All other currencies are regarded as foreign currencies. Transactions in foreign currencies are translated at the exchange rates at the dates of transaction. Exchange differences arising due to differences between the transaction date rates and the rates at the dates of payment are recognised in financial income and expenses in the income statement. Receivables, payables and other monetary items in foreign currencies that have not been settled at the balance sheet date are translated at the exchange rates at the balance sheet date. Any differences between the exchange rates at the balance sheet date and the rates at the time when the receivable or the debt arose are recognised in financial income and expenses in the income statement. Fixed assets acquired in foreign currencies are measured at the transaction date rates. Information on business segments and geographical segments based on the Companys risks and returns and its internal financial reporting system. Business segments are regarded as the primary segments. Other external expenses comprise expenses for distribution, sales, advertisement, administration, premises, loss on debtors, operational lease contracts etc. Staff expenses comprise wages and salaries as well as payroll expenses. Amortisation, depreciation and impairment losses comprise amortisation, depreciation and impairment of intangible assets and property, plant, lease improvements and equipment. Other operating income comprise items of a secondary nature to the main activities of the Company, including gains on the sale of property, plant and equipment. The items comprise interest income and expenses, realised and unrealised exchange gains and losses relating to transactions denominated in foreign currencies as well as surcharges and refunds under the on-account tax scheme, etc. Tax for the year consists of current tax for the year and changes in deferred tax for the year. The tax attributable to the profit for the year is recognised in the income statement, whereas the tax attributable to equity transactions is recognised directly in equity. The Company is jointly taxed with group entities. The total Danish income tax charge is allocated between profit/loss-making Danish entities in proportion to their taxable income (full absorption). Jointly taxed companies entitled to a tax refund are reimbursed by the management company based on the rates applicable to interest allowances, and jointly taxed companies which have paid too little tax pay a surcharge according to the rates applicable to interest surcharges to the management company. Acquired licenses are measured at the lower of cost less accumulated amortisation and recoverable amount. Acquired licenses is amortised over 5 years. Property, plant and equipment are measured at cost less accumulated depreciation and less any accumulated impairment losses. Cost comprises the cost of acquisition and expenses directly related to the acquisition up until the time when the asset is ready for use. Depreciation based on cost reduced by any residual value is calculated on a straight-line basis over the expected useful lives of the assets, which are: Buildings 20-50 years Other fixtures and fittings, tools and equipment 3-10 years Leasehold improvements 3-5 years The fixed assets’ residual values are determined at nil. Depreciation period and residual value are reassessed annually. Gains and losses on the disposal of property, plant and equipment are stated as the difference between the selling price less selling costs and the carrying amount at the date of disposal. Gains and losses are recognised in the income statement as other operating income or other operating costs, respectively. Every year, intangible assets and property, plant and equipment are reviewed for impairment indications. Where there is indication of impairment, an impairment test is made for each individual asset or group of assets, respectively, generating independent cash flows. The assets are written down to the higher of the value in use and the net selling price of the asset or group of assets (recoverable amount) if it is lower than the carrying amount. Where an impairment loss is recognised on a group of assets, a loss must be allocated to the assets on a pro rata basis. Impairment tests are conducted on assets or groups of assets when there is evidence of impairment. The carrying amount of impaired assets is reduced to the higher of the net selling price and the value in use (recoverable amount). The recoverable amount is the higher of the net selling price of an asset and its value in use. The value in use is calculated as the present value of the expected net cash flows from the use of the asset or the group of assets and the expected net cash flows from the disposal of the asset or the group of assets after the end of the useful life. Previously recognised impairment losses are reversed when the reason for recognition no longer exists. Fixed asset investments consist of Deposits. Receivables are measured at amortised cost. An impairment loss is recognised if there is objective evidence that a receivable or a group of receivables is impaired. If there is objective evidence that an individual receivable has been impaired, an impairment loss is recognised on an individual basis. Receivables in respect of which there is no objective evidence of individual impairment are tested for objective evidence of impairment on a portfolio basis. The portfolios are primarily based on the debtors' domicile and credit ratings in line with the Company's risk management policy. The objective evidence applied to portfolios is determined based on historical loss experience. Impairment losses are calculated as the difference between the carrying amount of the receivables and the present value of the expected cash flows, including the realisable value of any collateral received. Theeffective interest rate for the individual receivable or portfolio is used as discount rate. Contract work in progress regarding service is measured at selling price of the work performed calculated on the basis of the stage of completion. The stage of completion is measured by the proportion that the contract expenses incurred to date bear to the estimated total contract expenses. Where it is probable that total contract expenses will exceed total revenues from a contract, the expected loss is recognised as an expense in the income statement. Where the selling price cannot be measured reliably, the selling price is measured at the lower of expenses incurred and net realisable value. Payments received on account are set off against the selling price. The individual contracts are classified as receivables when the net selling price is positive and as liabilities when the net selling price is negative. Prepayments comprise prepaid expenses concerning subsequent financial years. Dividend distribution proposed by Management for the year is disclosed as a separate equity item. Deferred income tax is measured using the balance sheet liability method in respect of temporary differences arising between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes on the basis of the intended use of the asset and settlement of the liability, respectively. Deferred tax assets are measured at the value at which the asset is expected to be realised, either by elimination in tax on future earnings or by set-off against deferred tax liabilities within the same legal tax entity. Deferred tax is measured on the basis of the tax rules and tax rates that will be effective under the legislation at the balance sheet date when the deferred tax is expected to crystallise as current tax. Any changes in deferred tax due to changes to tax rates are recognised in the income statement or in equity if the deferred tax relates to items recognised in equity. Current tax liabilities and receivables are recognised in the balance sheet as the expected taxable income for the year adjusted for tax on taxable incomes for prior years and tax paid on account. Extra payments and repayment under the on-account taxation scheme are recognised in the income statement in financial income and expenses. Debts are measured at amortised cost, substantially corresponding to nominal value. The share capital consists of 10,000 shares of a nominal value of TDKK 1,000. No shares carry any special rights. 89832314 2021-01-01 e:ContributedCapitalMember 89832314 2021-12-31 e:ContributedCapitalMember 89832314 2021-01-01 e:RetainedEarningsMember 89832314 2021-01-01 2021-12-31 e:RetainedEarningsMember 89832314 2021-12-31 e:RetainedEarningsMember 89832314 2021-01-01 e:ProposedDividendRecognisedInEquityMember 89832314 2021-01-01 2021-12-31 e:ProposedDividendRecognisedInEquityMember 89832314 2021-12-31 e:ProposedDividendRecognisedInEquityMember 89832314 2021-12-31 e:OtherLongtermPayablesMember 89832314 2021-01-01 2021-12-31 89832314 2021-01-01 2021-12-31 1 89832314 2021-01-01 2021-12-31 1 89832314 2021-01-01 2021-12-31 2 89832314 2021-01-01 2021-12-31 3 89832314 2021-01-01 2021-12-31 4 89832314 2021-01-01 2021-12-31 5 89832314 2021-01-01 2021-12-31 1 89832314 2021-01-01 2021-12-31 e:ProposedDividendRecognisedInEquityMember 89832314 2020-01-01 2020-12-31 e:ProposedDividendRecognisedInEquityMember 89832314 2021-01-01 2021-12-31 e:RetainedEarningsMember 89832314 2020-01-01 2020-12-31 e:RetainedEarningsMember 89832314 2020-12-31 89832314 2021-12-31 89832314 2021-01-01 2021-12-31 e:ManagementMember 89832314 2021-12-31 1 89832314 2021-01-01 e:LandAndBuildingsMember 89832314 2021-01-01 2021-12-31 e:LandAndBuildingsMember 89832314 2021-12-31 e:LandAndBuildingsMember 89832314 2021-01-01 e:FixturesFittingsToolsAndEquipmentMember 89832314 2021-01-01 2021-12-31 e:FixturesFittingsToolsAndEquipmentMember 89832314 2021-12-31 e:FixturesFittingsToolsAndEquipmentMember 89832314 2021-01-01 e:LeaseholdImprovementsMember 89832314 2021-01-01 2021-12-31 e:LeaseholdImprovementsMember 89832314 2021-12-31 e:LeaseholdImprovementsMember 89832314 2021-01-01 e:DepositsLongtermInvestmentsAndReceivablesMember 89832314 2021-01-01 2021-12-31 e:DepositsLongtermInvestmentsAndReceivablesMember 89832314 2021-12-31 e:DepositsLongtermInvestmentsAndReceivablesMember 89832314 2020-12-31 e:OtherLongtermPayablesMember 89832314 2021-01-01 e:AcquiredLicencesMember 89832314 2021-01-01 2021-12-31 e:AcquiredLicencesMember 89832314 2021-12-31 e:AcquiredLicencesMember 89832314 2020-01-01 2020-12-31 89832314 2021-01-01 2021-12-31 d:TwoYearsAgoMember 89832314 2021-12-31 d:TwoYearsAgoMember 89832314 2021-01-01 2021-12-31 d:ThreeYearsAgoMember 89832314 2021-12-31 d:ThreeYearsAgoMember 89832314 2021-01-01 2021-12-31 d:FourYearsAgoMember 89832314 2021-12-31 d:FourYearsAgoMember xbrli:pure iso4217:DKK Data ethics Data Ethics information for DNV Denmark A/S is included in DNV Group AS annual financial statements. The DNV Group AS annual report and can be obtained / downloaded at: https://annualreport.dnv.com