42929042 2022-12-31 42929042 2021-12-31 42929042 2022-12-31 ClassOfSharesIdentifier_1 42929042 2022-01-01 fsa:ContributedCapitalMember 42929042 2022-01-01 fsa:SharePremiumMember 42929042 2022-01-01 fsa:ReserveForNetRevaluationAccordingToEquityMethodMember 42929042 2022-01-01 fsa:RetainedEarningsMember 42929042 2022-12-31 fsa:ContributedCapitalMember 42929042 2022-12-31 fsa:SharePremiumMember 42929042 2022-12-31 fsa:ReserveForNetRevaluationAccordingToEquityMethodMember 42929042 2022-12-31 fsa:RetainedEarningsMember 42929042 2022-01-01 fsa:InvestmentsInGroupEnterprisesMember 42929042 2021-01-01 fsa:InvestmentsInGroupEnterprisesMember 42929042 2022-12-31 fsa:InvestmentsInGroupEnterprisesMember 42929042 2021-12-31 fsa:InvestmentsInGroupEnterprisesMember 42929042 2022-12-31 relatedEntityIdentifier_asso_list_1 fsa:SubsidiaryMember 42929042 2022-12-31 relatedEntityIdentifier_asso_list_2 fsa:SubsidiaryMember 42929042 2022-01-01 2022-12-31 42929042 2022-01-01 2022-12-31 1 42929042 2022-01-01 2022-12-31 memberOfBoardIdentifier_executive_board_1 42929042 2021-01-01 2021-12-31 42929042 2022-01-01 2022-12-31 fsa:ProposedExtraordinaryDividendRecognisedInEquityMember 42929042 2021-01-01 2021-12-31 fsa:ProposedExtraordinaryDividendRecognisedInEquityMember 42929042 2022-01-01 2022-12-31 fsa:ReserveForNetRevaluationAccordingToEquityMethodMember 42929042 2021-01-01 2021-12-31 fsa:ReserveForNetRevaluationAccordingToEquityMethodMember 42929042 2022-01-01 2022-12-31 fsa:RetainedEarningsMember 42929042 2021-01-01 2021-12-31 fsa:RetainedEarningsMember 42929042 2022-01-01 2022-12-31 fsa:ContributedCapitalMember 42929042 2022-01-01 2022-12-31 fsa:SharePremiumMember 42929042 2022-01-01 2022-12-31 fsa:ReserveForNetRevaluationAccordingToEquityMethodMember 42929042 2022-01-01 2022-12-31 fsa:RetainedEarningsMember 42929042 2022-01-01 2022-12-31 fsa:InvestmentsInGroupEnterprisesMember 42929042 2021-01-01 2021-12-31 fsa:InvestmentsInGroupEnterprisesMember 42929042 2022-01-01 2022-12-31 relatedEntityIdentifier_asso_list_1 fsa:SubsidiaryMember 42929042 2022-01-01 2022-12-31 relatedEntityIdentifier_asso_list_2 fsa:SubsidiaryMember iso4217:DKK pure Årsrapport 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Strandvejen 44 2900 Hellerup 2022-01-01 2021-01-01 2022-12-31 2021-12-31 42929042 Lab Group ApS Bredgade 42 1260 København K København 2021-12-22 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab 33771231 Strandvejen 44 2900 Hellerup Denmark 39 45 39 45 koebenhavn@pwc.dk 2023-05-08 Sebastian Homaily Agerskov Regnskabsklasse B Revisionspåtegning The Executive Board has today considered and adopted the Financial Statements of Lab Group ApS for the financial year 1 January - 31 December 2022. 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 2022 of the Company and of the results of the Company operations for 2022. We recommend that the Financial Statements be adopted at the Annual General Meeting. 2023-05-08 København K Sebastian Homaily Agerskov CEO To the shareholders of Lab Group ApS Opinion In our opinion, the Financial Statements give a true and fair view of the financial position of the Company at 31 December 2022 and of the results of the Company´s operations for the financial year 1 January - 31 December 2022 in accordance with the Danish Financial Statements Act. We have audited the Financial Statements of Lab Group ApS for the financial year 1 January - 31 December 2022, which comprise income statement, balance sheet, statement of changes in equity and notes, including a summary of significant accounting policies (”the Financial Statements”). 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 as Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the Financial Statements, Management is responsible for assessing the Company´s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting in preparing the Financial Statements unless Management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. Our objectives are to obtain reasonable assurance 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. Hellerup 2023-05-08 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Niels Henrik B. Mikkelsen State Authorised Public Accountant mne16675 -22500 -15000 84798388 4102895 2502 0 84773386 4087895 -8800 0 84782186 4087895 50000000 0 34798388 3882895 -16202 205000 50008898 0 95901000 11351885 45892102 11351885 45892102 11351885 45892102 11351885 50000000 0 8800 0 50008800 0 98 0 100000 100000 7148990 7148990 38417112 3882895 50008600 0 100000 100000 188798 205000 45854900 11336885 37500 15000 50046100 15000 50046100 15000 95901000 11351885 The share capital consists of 0 shares of a nominal value of DKK 0. No shares carry any special rights. There have been no changes in the share capital in the past five years. The executive board is authorized under the articles of association of the company to issue warrants and has introduced a warrant program for a small number of individual employees in the company. The warrant program has been unanimously approved by the shareholders and the executive board has unanimously confirmed each warrant grant made under the warrant program. The total number of warrants under the program is 11,850. The maturity period is at 2023. Incentive programmes are not recognised in the Financial Statements. 100000 7148990 3882895 205000 0 0 0 -50000000 0 0 -264171 0 0 0 34798388 49983798 100000 7148990 38417112 188798 The Company's main activity is to own and invest in associated companies and other activity in this connection. 2502 0 2502 0 -8800 0 -8800 0 7468990 0 6000 7468990 7474990 7468990 3882895 0 84798388 4102895 -50000000 -220000 -264171 0 38417112 3882895 Positive differences arising on initial measurement of subsidiaries at net asset value 1683963 1683963 Traffic Labs Aps København 100 46214680 85083786 Search Lab ApS København 100 -2006541 -285398 The Company is included in the Group Annual Report of the Parent Company of the largest and smallest group: Name Place of registered office Agerskov Holding ApS København The Annual Report of Lab Group ApS for 2022 has been prepared in accordance with the provisions of the Danish Financial Statements Act applying to enterprises of reporting class B. The accounting policies applied remain unchanged from last year. The Financial Statements for 2022 are presented in DKK. 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. Other external expenses comprise expenses for premises, sales as well as office expenses, etc. With reference to section 32 of the Danish Financial Statements Act, gross profit/loss comprises of other external expenses. The item “Income from investments in subsidiaries” in the income statement includes the proportionate share of the profit for the year. Financial income and expenses are recognised in the income statement at the amounts relating to the financial year. 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 . The tax effect of the joint taxation is allocated to Danish enterprises in proportion to their taxable incomes. Investments in subsidiaries are recognised and measured under the equity method. The item “Investments in subsidiaries” in the balance sheet include the proportionate ownership share of the net asset value of the enterprises calculated on the basis of the fair values of identifiable net assets at the time of acquisition with deduction or addition of unrealised intercompany profits or losses and with addition of the remaining value of any increases in value and goodwill calculated at the time of acquisition of the enterprises. The total net revaluation of investments in subsidiaries is transferred upon distribution of profit to “Reserve for net revaluation under the equity method“ under equity. The reserve is reduced by dividend distributed to the Parent Company and adjusted for other equity movements in the subsidiaries. Subsidiaries with a negative net asset value are recognised at DKK 0. Any legal or constructive obligation of the Parent Company to cover the negative balance of the enterprise is recognised in provisions. Receivables are measured in the balance sheet at the lower of amortised cost and net realisable value, which corresponds to nominal value less provisions for bad debts. Purchase and sales prices for treasury shares are recognised directly in retained earnings under equity. A reduction of capital by cancellation of treasury shares reduces the share capital by an amount equal to the nominal value of the shares and increases retained earnings. Dividend on treasury shares is recognised directly in equity under retained earnings. 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, including the tax base of tax loss carry-forwards, 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.