33776039 2023-01-01 2023-12-31 33776039 2022-01-01 2022-12-31 33776039 2021-01-01 2021-12-31 33776039 2020-01-01 2020-12-31 33776039 2019-01-01 2019-12-31 33776039 2023-01-01 2023-12-31 0 33776039 2022-01-01 2022-12-31 1 33776039 2021-01-01 2021-12-31 2 33776039 2020-01-01 2020-12-31 3 33776039 2019-01-01 2019-12-31 4 33776039 2023-01-01 2023-12-31 5 33776039 2022-01-01 2022-12-31 6 33776039 2021-01-01 2021-12-31 7 33776039 2020-01-01 2020-12-31 8 33776039 2019-01-01 2019-12-31 9 33776039 2023-01-01 2023-12-31 10 33776039 2022-01-01 2022-12-31 11 33776039 2021-01-01 2021-12-31 12 33776039 2020-01-01 2020-12-31 13 33776039 2019-01-01 2019-12-31 14 33776039 2023-01-01 2023-12-31 15 33776039 2022-01-01 2022-12-31 16 33776039 2021-01-01 2021-12-31 17 33776039 2020-01-01 2020-12-31 18 33776039 2019-01-01 2019-12-31 19 33776039 2023-01-01 2023-12-31 20 33776039 2022-01-01 2022-12-31 21 33776039 2021-01-01 2021-12-31 22 33776039 2020-01-01 2020-12-31 23 33776039 2019-01-01 2019-12-31 24 33776039 2023-01-01 2023-12-31 25 33776039 2022-01-01 2022-12-31 26 33776039 2021-01-01 2021-12-31 27 33776039 2020-01-01 2020-12-31 28 33776039 2019-01-01 2019-12-31 29 33776039 2023-12-31 33776039 2022-12-31 33776039 2021-12-31 33776039 2020-12-31 33776039 2019-12-31 33776039 2023-01-01 2023-12-31 30 33776039 2022-01-01 2022-12-31 31 33776039 2021-01-01 2021-12-31 32 33776039 2020-01-01 2020-12-31 33 33776039 2019-01-01 2019-12-31 34 33776039 2023-01-01 2023-12-31 35 33776039 2022-01-01 2022-12-31 36 33776039 2021-01-01 2021-12-31 37 33776039 2020-01-01 2020-12-31 38 33776039 2019-01-01 2019-12-31 39 33776039 2023-01-01 2023-12-31 40 33776039 2022-01-01 2022-12-31 41 33776039 2021-01-01 2021-12-31 42 33776039 2020-01-01 2020-12-31 43 33776039 2019-01-01 2019-12-31 44 33776039 2023-01-01 2023-12-31 45 33776039 2022-01-01 2022-12-31 46 33776039 2021-01-01 2021-12-31 47 33776039 2020-01-01 2020-12-31 48 33776039 2019-01-01 2019-12-31 49 33776039 2023-01-01 2023-12-31 50 33776039 2022-01-01 2022-12-31 51 33776039 2021-01-01 2021-12-31 52 33776039 2020-01-01 2020-12-31 53 33776039 2019-01-01 2019-12-31 54 33776039 2023-01-01 fsa:ContributedCapitalMember 33776039 2023-01-01 fsa:ReserveForCurrentValueOfHedgingMember 33776039 2023-01-01 fsa:RetainedEarningsMember 33776039 2023-01-01 fsa:ProposedDividendRecognisedInEquityMember 33776039 2023-01-01 33776039 2023-01-01 2023-12-31 fsa:ContributedCapitalMember 33776039 2023-01-01 2023-12-31 fsa:ReserveForCurrentValueOfHedgingMember 33776039 2023-01-01 2023-12-31 fsa:RetainedEarningsMember 33776039 2023-01-01 2023-12-31 fsa:ProposedDividendRecognisedInEquityMember 33776039 2023-12-31 fsa:ContributedCapitalMember 33776039 2023-12-31 fsa:ReserveForCurrentValueOfHedgingMember 33776039 2023-12-31 fsa:RetainedEarningsMember 33776039 2023-12-31 fsa:ProposedDividendRecognisedInEquityMember 33776039 2023-01-01 fsa:CompletedDevelopmentProjectsMember 33776039 2023-01-01 fsa:DevelopmentProjectsInProgressMember 33776039 2023-01-01 2023-12-31 fsa:CompletedDevelopmentProjectsMember 33776039 2023-01-01 2023-12-31 fsa:DevelopmentProjectsInProgressMember 33776039 2023-12-31 fsa:CompletedDevelopmentProjectsMember 33776039 2023-12-31 fsa:DevelopmentProjectsInProgressMember 33776039 2023-01-01 fsa:LandAndBuildingsMember 33776039 2023-01-01 fsa:PlantAndMachineryMember 33776039 2023-01-01 fsa:FixturesFittingsToolsAndEquipmentMember 33776039 2023-01-01 fsa:PropertyPlantAndEquipmentInProgressAndPrepaymentsForPropertyPlantAndEquipmentMember 33776039 2023-01-01 2023-12-31 fsa:LandAndBuildingsMember 33776039 2023-01-01 2023-12-31 fsa:PlantAndMachineryMember 33776039 2023-01-01 2023-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 33776039 2023-01-01 2023-12-31 fsa:PropertyPlantAndEquipmentInProgressAndPrepaymentsForPropertyPlantAndEquipmentMember 33776039 2023-12-31 fsa:LandAndBuildingsMember 33776039 2023-12-31 fsa:PlantAndMachineryMember 33776039 2023-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 33776039 2023-12-31 fsa:PropertyPlantAndEquipmentInProgressAndPrepaymentsForPropertyPlantAndEquipmentMember 33776039 2023-01-01 2023-12-31 0 33776039 2023-01-01 2023-12-31 0 33776039 2023-01-01 2023-12-31 1 33776039 2023-01-01 2023-12-31 2 33776039 2023-01-01 2023-12-31 3 33776039 2023-01-01 2023-12-31 4 33776039 2023-01-01 2023-12-31 5 33776039 2023-01-01 2023-12-31 6 33776039 2023-01-01 2023-12-31 7 33776039 2023-01-01 2023-12-31 8 33776039 2023-01-01 2023-12-31 9 33776039 2023-01-01 2023-12-31 0 33776039 2023-01-01 2023-12-31 1 iso4217:DKK xbrli:pure <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><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">Financial ratios are calculated in accordance with the recommendations of the Danish Finance Society.</td></tr><tr><td colspan="1">The qualitative information on the gender composition of management is presented under a separate heading in the Management’s review below.</td></tr></table> 678401000 31707000 -5579000 <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 ratios</td></tr></table> -0.101 0.047 -0.2 -0.151 0.473 239 <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">ESG</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">Sustainability report</td></tr><tr><td colspan="1">Corporate social responsibility is an integrated part of the Daka Denmark Group’s business strategy. The Group wishes to act responsibly in relation to customers, employees, business partners etc. and all of the business areas in Daka Denmark have safe, sustainable and productive management of natural resources as a focal point.</td></tr><tr><td colspan="1">Daka Denmark A/S has chosen to publish its report on corporate social responsibility as a part of the Company’s sustainability report which can be found on our website; www.daka.dk/en/sustainability.</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">Gender composition of management</td></tr></table> 646694000 37176000 100567000 106036000 37409000 1906000 -70533000 19435000 1620000 1804000 9003000 -56677000 -16582000 -40095000 -580000 <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="20">Alle beløb er angivet i  'x1000'</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Notes</b></td></tr><tr><td width="49%" ></td><td width="36%" align="left" valign="middle" ><b>2023</b></td><td width="15%" align="left" valign="middle" ><b>2022</b></td></tr><tr><td width="49%" ></td><td width="36%" colspan="1" align="left" valign="middle" ><b>DKK'000</b></td><td width="15%" colspan="1" align="left" valign="middle" ><b>DKK'000</b></td></tr><tr><td colspan="3"></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Revenue</b></td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >Finished goods, Denmark</td><td width="36%" align="left" valign="middle" >299010</td><td width="15%" align="left" valign="middle" >172124</td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >Finished goods, abroad</td><td width="36%" align="left" valign="middle" >198269</td><td width="15%" align="left" valign="middle" >219041</td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >Biodiesel, Denmark</td><td width="36%" align="left" valign="middle" >0</td><td width="15%" align="left" valign="middle" >674787</td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >Raw material fees, Denmark</td><td width="36%" align="left" valign="middle" >171391</td><td width="15%" align="left" valign="middle" >115098</td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >Raw material fees, abroad</td><td width="36%" align="left" valign="middle" >9731</td><td width="15%" align="left" valign="middle" >10552</td></tr><tr><td colspan="3"></td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >Revenue total</td><td width="36%" align="left" valign="middle" >678401</td><td width="15%" align="left" valign="middle" >1191602</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 /><td>Other financial income</td></tr></table> 267000 872000 665000 <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 /><td>Financial expenses</td></tr></table> 109000 8206000 688000 <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 /><td>Tax on the profit for the year</td></tr></table> -1424000 -15169000 11000 <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 /><td>Intangible assets</td></tr><tr><td /><td>DKK'000</td></tr></table> 355000 0 2059000 -811000 5424000 <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 /><td>Amortised over</td><td>3-5 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 /><td>Property, plant and equipment</td></tr><tr><td /><td>DKK'000</td></tr></table><br><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 /><td>Depreciated over</td><td>8-33 years</td><td>2-15 years</td><td>2-15 years</td></tr></table> 49084000 0 154401000 -119709000 49136000 14031000 9200000 <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="20">Alle beløb er angivet i  'x1000'</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>.Investments in subsidiaries</b></td></tr><tr><td colspan="3"></td></tr><tr><td width="49%" ></td><td width="36%" align="left" valign="middle" ><b>2023</b></td><td width="15%" align="left" valign="middle" ><b>2022</b></td></tr><tr><td width="49%" ></td><td width="36%" colspan="1" align="left" valign="middle" ><b>DKK'000</b></td><td width="15%" colspan="1" align="left" valign="middle" ><b>DKK'000</b></td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >Cost at 1 January</td><td width="36%" align="left" valign="middle" >130010</td><td width="15%" align="left" valign="middle" >130010</td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >Disposals during the year</td><td width="36%" align="left" valign="middle" >-790</td><td width="15%" align="left" valign="middle" >0</td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >Additions during the year</td><td width="36%" align="left" valign="middle" >100</td><td width="15%" align="left" valign="middle" >0</td></tr><tr><td colspan="3"></td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >Cost at 31 December</td><td width="36%" align="left" valign="middle" >129320</td><td width="15%" align="left" valign="middle" >130010</td></tr><tr><td colspan="3"></td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >Value adjustments at 1 January</td><td width="36%" align="left" valign="middle" >-67719</td><td width="15%" align="left" valign="middle" >-51893</td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >Dividend paid</td><td width="36%" align="left" valign="middle" >-25291</td><td width="15%" align="left" valign="middle" >-26615</td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >Foreign currency translation</td><td width="36%" align="left" valign="middle" >580</td><td width="15%" align="left" valign="middle" >-5162</td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >Reversal of value adjustments</td><td width="36%" align="left" valign="middle" >-1355</td><td width="15%" align="left" valign="middle" >0</td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >Profit/loss for the year</td><td width="36%" align="left" valign="middle" >21824</td><td width="15%" align="left" valign="middle" >15951</td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >Elimination of unrealised intra-group profits</td><td width="36%" align="left" valign="middle" >-2388</td><td width="15%" align="left" valign="middle" >0</td></tr><tr><td colspan="3"></td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >Value adjustments at 31 December</td><td width="36%" align="left" valign="middle" >-74349</td><td width="15%" align="left" valign="middle" >-67719</td></tr><tr><td colspan="3"></td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" ><b>Carrying amount at 31 December</b></td><td width="36%" align="left" valign="middle" >54971</td><td width="15%" align="left" valign="middle" >62291</td></tr><tr><td colspan="3"></td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" ><b>Name and registered office</b></td><td width="51%" colspan="2" align="left" valign="middle" ><b>Voting rights and ownership</b></td></tr><tr><td colspan="3"></td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >Daka ecoMotion A/S, Hedensted</td><td width="51%" colspan="2" align="left" valign="middle" >49.00 %</td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >DAKA Ejendomme og Finans A/S, Hedensted</td><td width="51%" colspan="2" align="left" valign="middle" >100.00 %</td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >Konvex AB, Lidköping, Sweden</td><td width="51%" colspan="2" align="left" valign="middle" >100.00 %</td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >Gyllebo Gödning AB. Lidköping, Sweden</td><td width="51%" colspan="2" align="left" valign="middle" >33.33 %</td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >Svensk Lantbrukstjänst AB. Lidköping, Sweden</td><td width="51%" colspan="2" align="left" valign="middle" >50.00 %</td></tr><tr><td colspan="3"></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="20">Alle beløb er angivet i  'x1000'</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>..Investments in participating interest</b></td></tr><tr><td width="49%" ></td><td width="36%" colspan="1" align="left" valign="middle" ><b>Investments in participating interest</b></td><td width="15%" colspan="1" align="left" valign="middle" ><b>Investments in participating interest</b></td></tr><tr><td width="49%" ></td><td width="36%" align="left" valign="middle" ><b>2023</b></td><td width="15%" align="left" valign="middle" ><b>2022</b></td></tr><tr><td width="49%" ></td><td width="36%" colspan="1" align="left" valign="middle" ><b>DKK'000</b></td><td width="15%" colspan="1" align="left" valign="middle" ><b>DKK'000</b></td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >Cost at 1 January</td><td width="36%" align="left" valign="middle" >14935</td><td width="15%" align="left" valign="middle" >14935</td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >Disposals during the year</td><td width="36%" align="left" valign="middle" >2144</td><td width="15%" align="left" valign="middle" >0</td></tr><tr><td colspan="3"></td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >Cost at 31 December</td><td width="36%" align="left" valign="middle" >17079</td><td width="15%" align="left" valign="middle" >14935</td></tr><tr><td colspan="3"></td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >Value adjustments at 1 January</td><td width="36%" align="left" valign="middle" >0</td><td width="15%" align="left" valign="middle" >0</td></tr><tr><td colspan="3"></td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >Value adjustments at 31 December</td><td width="36%" align="left" valign="middle" >0</td><td width="15%" align="left" valign="middle" >0</td></tr><tr><td colspan="3"></td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" ><b>Carrying amount at 31 December</b></td><td width="36%" align="left" valign="middle" >17079</td><td width="15%" align="left" valign="middle" >14935</td></tr><tr><td colspan="3"></td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" ><b>Name and registered office</b></td><td width="51%" colspan="2" align="left" valign="middle" ><b>Voting rights and ownership</b></td></tr><tr><td colspan="3"></td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >Biosirk AS, Norway</td><td width="51%" colspan="2" align="left" valign="middle" >10.00 %</td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >ecoMotion Bartok JV GmbH, Germany</td><td width="51%" colspan="2" align="left" valign="middle" >5.00 %</td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >ecoMotion JV GmbH, Germany</td><td width="51%" colspan="2" align="left" valign="middle" >5.00 %</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="1" align="left" valign="middle" ><b>Amounts owed by group entities</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The parent company Daka Denmark A/S has entered into a cash pool agreement with a financial institution where Daka Denmark A/S is the account holder and the Group's affiliated companies are sub-account holders. The terms laid down in the cash pool scheme give the bank the right to settle withdrawals and deposits with each other, whereby only the net balance of the total cash pool accounts constitutes Daka Denmark A/S' balance with the bank.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The affiliated companies’ accounts in the cash pool arrangement amounted to DKK 23,569 thousand at 31 December 2023 (DKK 1,468 thousand at 31 December 2022) which is recognised as amounts owed by group entities at an amount of DKK 1,259 thousand (DKK 7,511 thousand at 31 December 2022) and as payables to group entities at an amount of DKK 24,828 thousand (DKK 8,979 thousand at 31 December 2022).</td></tr><tr><td colspan="1"></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="20">Alle beløb er angivet i  'x1000'</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Deferred tax</b></td></tr><tr><td width="49%" ></td><td width="36%" align="left" valign="middle" ><b>2023</b></td><td width="15%" align="left" valign="middle" ><b>2022</b></td></tr><tr><td width="49%" ></td><td width="36%" colspan="1" align="left" valign="middle" ><b>DKK'000</b></td><td width="15%" colspan="1" align="left" valign="middle" ><b>DKK'000</b></td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >Deferred tax at 1 January</td><td width="36%" align="left" valign="middle" >-160</td><td width="15%" align="left" valign="middle" >217</td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >Adjustment of the deferred tax charge for the year</td><td width="36%" align="left" valign="middle" >-15169</td><td width="15%" align="left" valign="middle" >-872</td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >Adjustment of the deferred tax charge following split</td><td width="36%" align="left" valign="middle" >1607</td><td width="15%" align="left" valign="middle" >0</td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >Tax on equity transactions</td><td width="36%" align="left" valign="middle" >0</td><td width="15%" align="left" valign="middle" >495</td></tr><tr><td colspan="3"></td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" ><b>Deferred tax at 31 December</b></td><td width="36%" align="left" valign="middle" >-13722</td><td width="15%" align="left" valign="middle" >-160</td></tr><tr><td colspan="3"></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Deferred tax primarily relates to intangible assets, property, plant and equipment, provisions and tax loss carry-forwards.</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Based on the Company’s budget and forecasts up to 2028, Management has assessed it likely that future taxable income will be available in which unused tax losses and unused tax deductions can be utilized.</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="1" align="left" valign="middle" ><b>Share capital</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The share capital comprises 27,539,600 shares of DKK 1 nominal value each. All shares rank equally.</td></tr><tr><td colspan="1"></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="20">Alle beløb er angivet i  'x1000'</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Non-current liabilities</b></td></tr><tr><td width="49%" ></td><td width="36%" align="left" valign="middle" ><b>2023</b></td><td width="15%" align="left" valign="middle" ><b>2022</b></td></tr><tr><td width="49%" ></td><td width="36%" colspan="1" align="left" valign="middle" ><b>DKK'000</b></td><td width="15%" colspan="1" align="left" valign="middle" ><b>DKK'000</b></td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >Amounts owed to mortgage credit institutions which fall</td><td width="36%" align="left" valign="middle" >49312</td><td width="15%" align="left" valign="middle" >52693</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >due more than 5 years after the balance sheet date</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="20">Alle beløb er angivet i  'x1000'</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Contingencies, etc. (continued)</b></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Contingent liabilities</b></td></tr><tr><td width="49%" ></td><td width="36%" align="left" valign="middle" ><b>2023</b></td><td width="15%" align="left" valign="middle" ><b>2022</b></td></tr><tr><td width="49%" ></td><td width="36%" colspan="1" align="left" valign="middle" ><b>DKK'000</b></td><td width="15%" colspan="1" align="left" valign="middle" ><b>DKK'000</b></td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >Rent and lease obligations (operating leases)</td><td width="36%" align="left" valign="middle" >44779</td><td width="15%" align="left" valign="middle" >38003</td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" >Guarantee for pension commitment in subsidiary</td><td width="36%" align="left" valign="middle" >2154</td><td width="15%" align="left" valign="middle" >2023</td></tr><tr><td colspan="3"></td></tr><tr><td width="49%" colspan="1" align="left" valign="middle" ><b>Contingencies total</b></td><td width="36%" align="left" valign="middle" >46933</td><td width="15%" align="left" valign="middle" >40026</td></tr><tr><td colspan="3"></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Daka Denmark A/S Group is jointly taxed with the Parent Company, SARIA Denmark ApS. Jointly taxed companies which are not wholly owned have limited and secondary liability for Danish withholding taxes on dividends, interest and royalties within the joint taxation unit. The jointly taxed enterprises’ total known net liabilities to the tax authorities/SKAT are stated in the financial statements of the administration company. Any subsequent corrections of the joint taxation income and withholding taxes, etc. may result in an increase in the Company’s liability.</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="1" align="left" valign="middle" ><b>Mortgages and collateral</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Land and buildings with a carrying amount of DKK 58,450 thousand have been provided as collateral for mortgages. In addition, a considerable part of the Parent Company’s plant and machinery is deemed to</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >be included in the collateral. Mortgage loans amounted to DKK 59,927 thousand at 31 December 2023.</td></tr><tr><td colspan="1"></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 /><td>Staff costs</td></tr></table> 146274000 13222000 4815000 164311000 <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 /><td>Remuneration to the Executive Board and the Board of Directors</td><td>2095</td><td>2058</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 /><td>Average number of full-time employees</td><td>239</td><td>243</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 /><td>Fees paid to auditors appointed at the annual general meeting</td></tr></table> 268000 20000 643000 409000 1340000 <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="1" align="left" valign="middle" ><b>Related party disclosures</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Parties exercising control</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >SARIA Denmark ApS, Lundagervej 21, DK-8722 Hedensted holds the majority of the share capital in the Company.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The consolidated financial statements of SARIA Denmark ApS are available at the Company's address and at www.cvr.dk.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Daka Denmark A/S is included in the consolidated financial statements of the ultimate parent company, Rethmann SE & Co. KG, Selm, Germany.</td></tr><tr><td colspan="1"></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 /><td>Appropriation of profit/loss</td></tr><tr><td /><td /><td>2023</td><td>2022</td></tr><tr><td /><td /><td>DKK'000</td><td>DKK'000</td></tr></table> -40095000 <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 the Board of Directors and the Executive Board</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">The Board of Directors and the Executive Board have today discussed and approved the annual report of Daka Denmark A/S for the financial year 1 January – 31 December 2023.</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">The annual report has been prepared in accordance with the Danish Financial Statements Act.</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">It is our opinion that the financial statements give a true and fair view of the Company's financial position at 31. December 2023 and of the results of the Company's operations for the financial year 1. January – 31. December 2023.</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">Further, in our opinion, the Management's review gives a fair review of the development in the Company's operations and financial matters and the results of the Company's operations and 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">We recommend that the annual report be approved at the annual general meeting.</td></tr></table> Hedensted 2024-04-17 <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 auditors' 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">To the shareholders of Daka Denmark A/S</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 Daka Denmark A/S for the financial year 1 January – 31 December 2023, which comprise income statement, balance sheet, statement of changes in equity and notes, including accounting policies. The financial statements are prepared in accordance with the Danish Financial Statements Act.</td></tr><tr><td colspan="1">In our opinion, the financial statements give a true and fair view of the financial position of the Company at 31 December 2023 and of the results of the Company's operations for the financial year 1 January – 31 December 2023 in accordance with the Danish Financial Statements Act.</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 Standards on Auditing (ISAs) and additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the "Auditor's responsibilities for the audit of the financial statements" section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.</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">Independence</td></tr><tr><td colspan="1">We are independent of the Company in accordance with the International Ethics Standards Board for Accountants' Code of Ethics for Professional Accountants (IESBA Code) and additional requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these rules and requirements.</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 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.</td></tr><tr><td colspan="1">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.</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">Auditor's responsibilities for the audit of the financial statements</td></tr><tr><td colspan="1">Our objectives are to obtain reasonable assurance as to whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements.</td></tr><tr><td colspan="1">As part of an audit conducted in accordance with ISAs and additional requirements applicable in Denmark, we exercise professional judgement and maintain professional scepticism throughout the audit. We also</td></tr><tr><td colspan="1">*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.</td></tr><tr><td colspan="1">*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.</td></tr><tr><td colspan="1">*Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management.</td></tr><tr><td colspan="1">*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.</td></tr><tr><td colspan="1">*Evaluate the overall presentation, structure and contents of the financial statements, including the note disclosures, and whether the financial statements represent the underlying transactions and events in a manner that gives a true and fair view. </td></tr><tr><td colspan="1">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.</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 the Management's review</td></tr><tr><td colspan="1">Management is responsible for the Management's review.</td></tr><tr><td colspan="1">Our opinion on the financial statements does not cover the Management's review, and we do not express any form of assurance conclusion thereon.</td></tr><tr><td colspan="1">In connection with our audit of the financial statements, our responsibility is to read the Management's review and, in doing so, consider whether the Management's review is materially inconsistent with the financial statements or our knowledge obtained during the audit, or otherwise appears to be materially misstated.</td></tr><tr><td colspan="1">Moreover, it is our responsibility to consider whether the Management's review provides the information required under the Danish Financial Statements Act.</td></tr><tr><td colspan="1">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 Statements Act. We did not identify any material misstatement of the Management's review.</td></tr></table> Aarhus 2024-04-17 Daka Denmark A/S Lundagervej 21 8722 Hedensted 33776039 2011-06-22 Hedensted 2023-01-01 2023-12-31 www.daka.dk daka@daka.dk 2024-05-03 Kasper Holm <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">Principal activities</td></tr><tr><td colspan="1">The principal activity of the Company is to purchase animal by-products from slaughterhouses, the meat and farming industry, etc. and to process these products into various finished products for the pet food, feed, energy, fertilization and foodstuff markets. Collection and processing of food waste and used cooking oil have during the past years become an increasing part of the activities in the Group. Customers to the finished products within this business unit are within the biogas sector. In addition, the Company is a vital part of the veterinary safety and keeps a capacity operational to fulfil this obligation.</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 financial matters</td></tr><tr><td colspan="1">Loss for the year amounts to DKK 40,095 thousand derived from revenue of DKK 678,401 thousand.</td></tr><tr><td colspan="1">Operating loss amounted to DKK 70,533 thousand in 2023 compared to an operating profit of DKK 5,630 thousand last year resulting from a gross profit of DKK 31,707 thousand compared to DKK 142,521 thousand in 2022. The reduction is caused by declining prices of finished goods in all categories and thereby reduced margins. High energy costs also affected production costs in all business units lowering the result.</td></tr><tr><td colspan="1">For the above reasons, the development has resulted in a loss for the year below the expected level. Management does not consider the profit for the year satisfactory.</td></tr><tr><td colspan="1">In 2023, the SARIA Group has engaged in a joint venture with Total Energy with the aim to refine biodiesel into Sustainable Aviation Fuel. As part of this joint venture agreement, Daka Denmark A/S has transferred all assets and liabilities related to the biodiesel production to the subsidiary Daka ecoMotion A/S, and furthermore exchanged 51% of the ownership of Daka ecoMotion A/S for a 5% equity position in two German joint venture companies. This is an important strategic step for the Company and the Group to secure long-term optimized value chain and profitability.</td></tr><tr><td colspan="1">For the past years, Daka Denmark A/S has been a party to a pending legal case regarding the export of meat meal and bone meal. During 2023, the case has been closed without any negative outcome for the Company or Management.</td></tr><tr><td colspan="1">The Company's equity totals DKK 247,913 thousand, including proposed dividends, corresponding to 48.2% of the balance sheet total.</td></tr><tr><td colspan="1">No dividends are proposed to the 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">Risks</td></tr><tr><td colspan="1">Though being exposed to price fluctuations on input cost as well as finished goods prices, the Company has not undertaken any particular commercial risks other than those considered usual for the nature and size of 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 colspan="1">Intellectual capital</td></tr><tr><td colspan="1">The Company’s operations are characterized by complex structures i.a. within the market structures and production technologies particular to the industry.</td></tr><tr><td colspan="1">Moreover, conditions for the Company's activities are constantly changing. The development of the Company's employees to handle such changes will gain significance in order to obtain success. Measures are constantly taken to maintain and develop the employees' qualifications.</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 not carry on any research activities. The Company’s production processes are continuously being optimized, just as its finished goods are undergoing constant development in order to add value thereto in the Company’s sales channels.</td></tr><tr><td colspan="1">Corporate social responsibility, cf. section 99a of the Danish Financial Statements Act</td></tr></table> www.daka.dk/en/sustainability. <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">Data ethics and GDPR</td></tr><tr><td colspan="1">Management of the Daka Denmark Group follows the SARIA Group policy on data ethics</td></tr><tr><td colspan="1">*The Group must comply with the Danish Data Protection Act which has been specified in a general policy for data protection outlining our obligations, treatment of data and several fundamental principles of data protection. In addition, a set of guidelines and data protection responsible persons have been appointed. Guidelines include</td></tr><tr><td colspan="1">-Internal handling of employees and employee-related data, i.e. processes, storage of data and deletion.</td></tr><tr><td colspan="1">-Handling of GDPR data towards external suppliers and systems when data processing is involved.</td></tr><tr><td colspan="1">-Reporting and handling of data breach.</td></tr><tr><td colspan="1">All employees are presented with the policies. The Company focuses on adherence with the legislation by optimization of processes, lifting the general level of documentation and ensuring a high level of awareness.</td></tr><tr><td colspan="1">Gender composition, cf. section 99b in the Danish Financial Statements Act</td></tr><tr><td colspan="1">The gender composition in Daka Danmark A/S is not equal, mainly because the Company is a manufacturing company, which for many years has operated in a line of business, which primarily employs and attracts male employees. Consequently, women are the underrepresented gender on the Executive Board and in other executive positions.</td></tr><tr><td colspan="1">The management team of Daka Denmark A/S comprised 46 persons at 31 December 2023, which included the Company's Executive Board, the department managers of various functions and selected specialists. Female managers on the management team made up 26% in 2023 – same level as in 2022. The representation of females in management is similar to the overall split in the company where female employees made up 23% of all employees by the end of 2023. The Company’s goal is to have 33% female managers before end of 2026.</td></tr><tr><td colspan="1">Daka Denmark A/S wishes to ensure equal opportunities to all, and its overall goal is to ensure that the Board of Directors at all times is made up of the most suitable candidates, irrespective of gender. The Board of Directors of Daka Denmark A/S comprises nine members of which six members are appointed at the annual general meeting and three members are employee representatives.</td></tr><tr><td colspan="1">The Board of Directors in Daka Denmark A/S has set up a goal for the underrepresented gender on the Board of Directors, which is to account for at least one person. This goal was to be fulfilled by the end of 2023. At present, members appointed at the annual general meeting are of the same gender. The goal has therefore not been fulfilled as there have been no qualified candidates among the underrepresented gender. The point and the agreed goal have been discussed by the members of the Board of Directors during the financial year, and recognized by all members, but no candidate of the underrepresented gender has yet been appointed by the owners. It is still the Company’s target that at least one of the Board members appointed by the general meeting is from the underrepresented gender, and that this goal must be fulfilled by the end of 2025.</td></tr><tr><td colspan="1">Daka Denmark A/S' overall goal is to ensure that the Executive Board and management team at all times are made up of the most suitable candidates, irrespective of gender. Furthermore, Daka Denmark A/S wishes to ensure equal opportunities for all and wishes to represent the female/male ratio in society also at management level. In connection with setting goals for the share of women on the Board, the Company has laid down a policy, which describes how to maintain and, if possible, increase the share of women in the Company in general and at management level in particular.</td></tr><tr><td colspan="1">In general, the policy comprises three initiatives regarding women in management positions: Attention by the Company so that female managers are a focus area in the Daka Group, attraction and recruitment, where the Company works to identify and motivate more women to apply for management positions and focuses on retention and development, in particular on management development of women, including courses and coaching processes.</td></tr><tr><td colspan="1">During the year, work has been done to ensure that both genders are represented in the recruitment process. Both management and the HR department have focus on supporting the goal and furthermore on motivating women to apply for management positions. Despite these initiatives, there were limited applications or suitable candidates from the underrepresented gender for the available management positions.</td></tr><tr><td colspan="1">Reference is made to the table on page 6 for a summary of the gender composition of management and related goals.</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">Events after the balance sheet date</td></tr><tr><td colspan="1">No significant events have occurred after the end of the financial year, which may influence the assessment of the Company's 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">Outlook</td></tr><tr><td colspan="1">The production of pigs in Denmark continued to decline in 2023, and the received volumes of fallen stock and biproducts from slaughterhouses have been following this trend. Development seems to continue in 2024. The future market price level on pork meat will determine the future development and therefore the most important raw material base.</td></tr><tr><td colspan="1">The conflicts in the world affect the price level on both energy and finished products, and created volatility in the markets during 2023. The volatility makes the outlook for 2024 uncertain, but it is Management’s expectation that the cost of energy as well as price levels of finished goods will stay at the same levels as in 2023. Declining prices have had a significant effect on the result in 2023 and this is not expected to continue.</td></tr><tr><td colspan="1">All in all, revenue for 2024 is expected to be at same level as 2023 and net result of 2024 in the range of DKK 1-10 million.</td></tr></table> Regnskabsklasse C, stor virksomhed <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 Daka Denmark A/S for 2023 has been prepared in accordance with the provisions applying to reporting class C large enterprises under the Danish Financial Statements Act.</td></tr></table> true <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">Referring to section 112 of the Danish Financial Statements Act, consolidated financial statements have not been prepared as Daka Denmark A/S and group enterprises are included in the consolidated financial statements of the parent company, SARIA Denmark ApS.</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">Referring to section 86 of the Danish Financial Statements Act, no cash flow statement has been prepared, as the consolidated financial statements of the ultimate parent company, SARIA Denmark ApS, include a consolidated cash flow statement, in which the Company’s cash flows are incorporated.</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">On initial recognition, transactions denominated in foreign currencies are translated at the exchange rates at the transaction date. Foreign exchange differences arising between the exchange rates at the transaction date and at the date of payment are recognised in the income statement as financial income or financial expenses.</td></tr><tr><td colspan="1">Receivables and payables and other monetary items denominated in foreign currencies are translated at the exchange rates at the balance sheet date. The difference between the exchange rates at the balance sheet date and at the date at which the receivable or payable arose or was recognised in the latest financial statements is recognised in the income statement as financial income or financial expenses.</td></tr><tr><td colspan="1">Foreign subsidiaries are considered separate entities. The income statements are translated at the average exchange rates for the month, and the balance sheet items are translated at the exchange rates at the balance sheet date. Foreign exchange differences arising on translation of the opening equity of foreign subsidiaries at the exchange rates at the balance sheet date and on translation of the income statements from average exchange rates to the exchange rates at the balance sheet date are recognised directly in equity.</td></tr><tr><td colspan="1">Foreign exchange adjustments of intra-group balances with independent foreign subsidiaries which are considered part of the investment in the subsidiary are recognised directly in equity. Foreign exchange gains and losses on loans and derivative financial instruments designated as hedges of foreign subsidiaries are also recognised directly in 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">Derivative financial instruments</td></tr><tr><td colspan="1">On initial recognition, derivative financial instruments are recognised in the balance sheet at cost and are subsequently measured at fair value. Positive and negative fair values of derivative financial instruments are included in other receivables and payables, respectively.</td></tr><tr><td colspan="1">Fair value adjustments of derivative financial instruments designated as and qualifying for recognition as a hedge of the fair value of a recognised asset or liability are recognised in the income statement together with fair value adjustments of the hedged asset or liability.</td></tr><tr><td colspan="1">Changes in the fair value of derivative financial instruments designated as and qualifying for recognition as a hedge of future assets or liabilities are recognised in other receivables or other payables and in equity. If the hedged forecast transaction results in the recognition of assets or liabilities, amounts previously recognised in equity must be transferred to the cost of the asset or liability, respectively. If the hedged forecast transaction results in income or expenses, amounts previously recognised in equity must be transferred to the income statement in the period in which the hedged item affects the income statement.</td></tr><tr><td colspan="1">Fair value adjustments of derivative financial instruments that do not qualify for hedge accounting are recognised in the income statement on a current basis.</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">The Company has chosen IAS 18 as interpretation for revenue recognition.</td></tr><tr><td colspan="1">Income from collected raw material fees and sale of finished goods, comprising sale of meal, fat and blood products and biodiesel, is recognised in revenue when the most significant rewards and risks have been transferred to the buyer and provided that the income can be reliably measured and payment is expected to be received. The date of the transfer of the most significant rewards and risks is based on standardised terms of delivery based on Incoterms® 2020.</td></tr><tr><td colspan="1">Revenue is measured at the fair value of the agreed consideration excluding VAT and taxes charged on behalf of third parties. All discounts granted are recognised in revenue.</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">Production costs</td></tr><tr><td colspan="1">Production costs comprise costs, including depreciation and amortisation and salaries, incurred in generating the revenue for the year. Trading enterprises recognise their cost of sales, and production enterprises recognise their production costs incurred in generating the revenue for the year. Such costs include direct and indirect costs for raw materials and consumables, wages and salaries, rent and leases, and maintenance, transportation and energy depreciation of production plant.</td></tr><tr><td colspan="1">Production costs also comprise research and development costs that do not qualify for capitalisation as well as costs for protecting internal and external environment.</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">Distribution costs</td></tr><tr><td colspan="1">Costs incurred in distributing goods sold during the year and in conducting sales campaigns, etc. during the year are recognised as distribution costs. Also, costs relating to sales staff, advertising, exhibitions, transport and warehouse rent and depreciation are recognised as distribution 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">Administrative expenses</td></tr><tr><td colspan="1">Administrative expenses comprise expenses incurred during the year for group management and administration, including expenses for administrative staff, office premises and office expenses, and depreciation.</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">Other operating income and costs</td></tr><tr><td colspan="1">Other operating income and costs comprise items secondary to the activities of the enterprises, including gains and losses on the disposal of intangible assets and property, plant and equipment.</td></tr><tr><td colspan="1">Profits/losses from investments in subsidiaries and participating interests</td></tr><tr><td colspan="1">The proportionate share of the results after tax of the individual subsidiaries is recognised in the income statement of the parent company after full elimination of intra-group profits/losses.</td></tr><tr><td colspan="1">The item includes dividend received from participating interests in so far as the dividend does not exceed the accumulated earnings in the participating interest in the period of ownership.</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 comprise interest income and expense, realised and unrealised gains and losses on receivables, payables and transactions denominated in foreign currencies, amortisation of financial assets and liabilities as well as surcharges and refunds under the on-account tax scheme, 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">Tax on profit/loss for the year</td></tr><tr><td colspan="1">The Parent Company is covered by the Danish rules on compulsory joint taxation of the SARIA Denmark ApS Group's Danish subsidiaries. Subsidiaries form part of the joint taxation from the date on which they are included in the consolidated financial statements and up to the date on which they exit the consolidation.</td></tr><tr><td colspan="1">The Parent Company is the administration company for the joint taxation and consequently settles all corporation tax payments with the tax authorities.</td></tr><tr><td colspan="1">The current Danish corporation tax is allocated by settlement of joint taxation contributions between the jointly taxed companies in proportion to their taxable income. In this relation, companies with tax loss carryforwards receive a joint taxation contribution from companies that have used these losses to reduce their own taxable profits.</td></tr><tr><td colspan="1">Tax for the year comprises current tax, joint taxation contributions for the year and changes in deferred tax for the year due to changes in the tax rate. The tax expense relating to the profit/loss for the year is recognised in the income statement, and the tax expense relating to amounts directly recognised in equity is recognised directly in 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 sheet</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 assets</td></tr><tr><td colspan="1">Goodwill and software</td></tr><tr><td colspan="1">Goodwill and software is measured at cost less accumulated amortisation. Goodwill is amortised on a straight-line basis over the estimated useful life determined on the basis of Management's experience of the specific business areas. Goodwill is amortised over 5 years. Software is amortised on a straight-line basis over the estimated useful life of 3-5 years.</td></tr><tr><td colspan="1">CO2 rights</td></tr><tr><td colspan="1">On initial recognition, CO2 rights allocated and acquired are measured at cost. If CO2 rights are allocated free of charge, cost is DKK 0.</td></tr><tr><td colspan="1">The basis of amortisation for the CO2 rights is measured at cost less scrap value. The scrap value depends on whether or not the Company expects to utilise the rights themselves or sell them. The CO2 rights are amortised as discharged.</td></tr><tr><td colspan="1">To the extent that the actual discharge exceeds the CO2 rights allocated and acquired, a liability is recognised corresponding to the fair value of the CO2 rights which the Company is under an obligation to settle.</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">Property, plant and equipment</td></tr><tr><td colspan="2">Land and buildings, plant and machinery and fixtures and fittings, tools and other plant and equipment are measured at cost less accumulated depreciation and impairment losses. The basis of depreciation is cost less any expected residual value at the end of the useful life. Land is not depreciated.</td></tr><tr><td colspan="2">Cost comprises the purchase price and any costs directly attributable to the acquisition until the date when the asset is available for use. The cost of self-constructed assets comprises direct and indirect costs of materials, components, sub-suppliers, and wages and salaries.</td></tr><tr><td colspan="2">Where individual components of an item of property, plant and equipment have different useful lives, they are accounted for as separate items, which are depreciated separately.</td></tr><tr><td colspan="2">Depreciation is provided on a straight-line basis over the expected useful lives of the assets. The expected useful lives are as follows</td></tr><tr><td>Buildings</td><td>8-33 years</td></tr><tr><td>Plant and machinery</td><td>2-15 years</td></tr><tr><td>Fixtures and fittings, tools and equipment</td><td>2-15 years</td></tr><tr><td colspan="2">The basis of depreciation is based on the residual value of the asset and is reduced by impairment losses, if any. The depreciation period and the residual value are determined at the time of acquisition and are reassessed every year. Where the residual value exceeds the carrying amount of the asset, no further depreciation charges are recognised.</td></tr><tr><td colspan="2">In case of changes in the amortisation period or the residual value, the effect on the depreciation charges is recognised prospectively as a change in accounting estimates.</td></tr><tr><td colspan="2">Depreciation is recognised in the income statement as production costs, distribution costs and administrative expenses, respectively.</td></tr><tr><td colspan="2">Gains and losses on the disposal of property, plant and equipment are determined as the difference between the selling price less selling costs and the carrying amount at the date of disposal. Gains or losses are recognised in the income statement as other operating income or other operating costs, respectively.</td></tr><tr><td colspan="2">Investments in subsidiaries and participating interests</td></tr><tr><td colspan="2">Investments in subsidiaries are measured under the equity method.</td></tr><tr><td colspan="2">Investments in subsidiaries are measured at the proportionate share of the enterprises' net asset values calculated in accordance with the Group's accounting policies plus or minus unrealised intra-group profits and losses and plus or minus any residual value of positive or negative goodwill determined in accordance with the acquisition method.</td></tr><tr><td colspan="2">Net revaluation of investments in subsidiaries is recognised in the reserve for net revaluation in equity under the equity method to the extent that the carrying amount exceeds cost. Dividends from subsidiaries which are expected to be adopted before the approval of Daka Denmark A/S’ annual report are not recognised in the reserve for net revaluation.</td></tr><tr><td colspan="2">Acquisitions of subsidiaries are accounted for using the purchase method, according to which the assets and liabilities acquired are measured at their fair values at the date of acquisition.</td></tr><tr><td colspan="2">Any excess of the cost over the fair value of the assets and liabilities identified (goodwill) is recognised as investments in subsidiaries and depreciated over the estimated useful life of five years. The net asset value of goodwill is assessed on an ongoing basis and is written down in the income statement if the carrying amount exceeds the expected future net income from the enterprise or activity to which goodwill is allocated.</td></tr><tr><td colspan="2">Investments in participating parties are measured at cost. Dividends received that exceed the accumulated earnings in the participating interest during the period of ownership are treated as a reduction in the cost of acquisition.</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 non-current assets</td></tr><tr><td colspan="1">Impairment tests are conducted of individual assets or groups of assets when there is an indication that they may be impaired. Write-down is made to the recoverable amount if this is lower than the carrying amount.</td></tr><tr><td colspan="1">The recoverable amount is the higher of an asset's net selling price and its value in use. The value in use is determined as the present value of the expected net cash flows from the use of the asset or the group of assets and expected net cash flows from the disposal of the asset or the group of assets after the end of the 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">Inventories</td></tr><tr><td colspan="1">Inventories are measured at cost in accordance with the FIFO method. Where the net realisable value is lower than cost, inventories are written down to this lower value.</td></tr><tr><td colspan="1">Raw materials and consumables are measured at cost, comprising purchase price plus delivery costs.</td></tr><tr><td colspan="1">Finished goods and work in progress are measured at cost, comprising the cost of raw materials, consumables, direct wages and salaries and direct production costs and indirect production overheads.</td></tr><tr><td colspan="1">Indirect production overheads comprise indirect materials and wages and salaries as well as maintenance and depreciation of production machinery, buildings and equipment as well as factory administration and management. Borrowing costs are not included in the cost.</td></tr><tr><td colspan="1">The net realisable value of inventories is calculated as the sales amount less costs of completion and costs necessary to make the sale and is determined taking into account marketability, obsolescence and development in expected selling price.</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.</td></tr><tr><td colspan="1">The Company has chosen IAS 39 as interpretation for impairment of financial receivables.</td></tr><tr><td colspan="1">Write-down is made for bad debt losses where there is an objective indication that a receivable or a receivable portfolio has been impaired. If there is an objective indication that an individual receivable has been impaired, a write-down is made based on an individual assessment.</td></tr><tr><td colspan="1">Receivables with no objective indication of individual impairment are assessed for objective indication of impairment on a portfolio basis. The portfolios are primarily based on the debtors' registered offices and credit rating in accordance with the Company's and the Group's credit risk management policy. The objective indicators used in relation to portfolios are determined based on historical loss experience.</td></tr><tr><td colspan="1">Write-downs are calculated as the difference between the carrying amount of receivables and the present value of the expected cash flows, including the realisable value of any collateral received. The effective interest rate for the individual receivable or portfolio is used as discount rate.</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">Prepayments, assets</td></tr><tr><td colspan="1">Prepayments comprise costs incurred concerning subsequent financial 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="1">Equity</td></tr><tr><td colspan="1">Reserve for net revaluation according to the equity method</td></tr><tr><td colspan="1">Net revaluation of investments in subsidiaries is recognised at cost in the reserve for net revaluation according to the equity method.</td></tr><tr><td colspan="1">The reserve may be eliminated in case of losses, realisation of investments or a change in accounting estimates.</td></tr><tr><td colspan="1">Hedging reserve</td></tr><tr><td colspan="1">The hedging reserve comprises the cumulative net change in the fair value of hedging transactions that qualify for recognition as a cash flow hedge and where the hedged transaction has not been realised. The reserve is dissolved when the hedged transaction is realised, if the hedged cash flows are no longer expected to be realised or if the hedging relationship is no longer effective. The hedging reserve does not represent a limitation under company law and may therefore be negative.</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">Dividends</td></tr><tr><td colspan="1">Proposed dividends are recognised as a liability at the date when they are adopted at the annual general meeting (declaration date). The expected dividend payment for the year is disclosed as a separate item under 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">Corporation tax and deferred tax</td></tr><tr><td colspan="1">Current tax payable and receivable is recognised in the balance sheet as tax computed on the taxable income for the year, adjusted for tax on the taxable income of prior years and for tax paid on account.</td></tr><tr><td colspan="1">Joint taxation contribution payable and receivable is recognised in the balance sheet as "Corporation tax receivable" or "Corporation tax payable".</td></tr><tr><td colspan="1">Deferred tax is measured using the balance sheet liability method on all temporary differences between the carrying amount and the tax value of assets and liabilities. However, deferred tax is not recognised on temporary differences relating to goodwill, which is not deductible for tax purposes and on office premises and other items where temporary differences, apart from business combinations, arise at the date of acquisition without affecting either profit/loss for the year or taxable income. Where different tax rules can be applied to determine the tax base, deferred tax is measured based on Management's planned use of the asset or settlement of the liability, respectively.</td></tr><tr><td colspan="1">Tax assets, including the tax value of tax loss carryforwards, are recognised at the expected value of their utilisation, either as a set-off against tax on future income or as a set-off against deferred tax liabilities in the same legal tax entity and jurisdiction.</td></tr><tr><td colspan="1">Adjustment is made to deferred tax resulting from elimination of unrealised intra-group profits and losses.</td></tr><tr><td colspan="1">Deferred tax is measured in accordance with the tax rules and at the tax rates applicable in the respective countries at the balance sheet date when the deferred tax is expected to crystallise as current tax.</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 other than provisions</td></tr><tr><td colspan="1">The company has chosen IAS 39 as interpretation for recognition and measurement of debt obligations.</td></tr><tr><td colspan="1">Financial liabilities are recognised at the date of borrowing at the net proceeds received less transaction costs paid. In subsequent periods, the financial liabilities are measured at amortised cost, corresponding to the capitalised value using the effective interest rate. Accordingly, the difference between the proceeds and the nominal value is recognised in the income statement over the term of the loan.</td></tr><tr><td colspan="1">Other liabilities are measured at net realisable value.</td></tr><tr><td colspan="1">Prepayments, liabilities</td></tr><tr><td colspan="1">Deferred income comprises payments received concerning income in subsequent years.</td></tr></table> Årsrapport 30700228 EY Godkendt Revisionspartnerselskab Cortex Park Vest 3 5230 Odense M xWizard version 1.1.1264.0, by EasyX Aps. www.easyx.eu 2022-01-01 2022-12-31 Revisionspåtegning Grundlag for konklusion Konklusion 1191602000 142521000 -1178000 0.005 0.12 0.015 0.058 0.421 243 1049081000 41937000 105846000 5262000 11566000 674000 5630000 15951000 1459000 4881000 7518000 20403000 1218000 19185000 157000 96000 4628000 430000 3845000 3243000 1795000 -872000 295000 148680000 12093000 5767000 166540000 298000 20000 215000 375000 908000 19185000 1027406000 287707000 -1819000 0.141 0.28 0.466 0.358 0.55 243 951120000 320340000 846000 0.195 0.337 0.614 0.425 0.585 237 851589000 232828000 -4199000 0.128 0.273 0.35 0.412 0.495 242 EBITDA -46645000 EBITDA 62561000 EBITDA 201046000 EBITDA 249175000 EBITDA 236946000 Ordinary operating profit -106036000 Ordinary operating profit -5262000 Ordinary operating profit 133968000 Ordinary operating profit 181882000 Ordinary operating profit 100837000 Profit/loss before tax -56677000 Profit/loss before tax 20403000 Profit/loss before tax 172113000 Profit/loss before tax 205777000 Profit/loss before tax 187627000 Profit/loss for the year -40095000 Profit/loss for the year 19185000 Profit/loss for the year 141233000 Profit/loss for the year 165222000 Profit/loss for the year 151584000 Non-current assets 355627000 Non-current assets 406694000 Non-current assets 402077000 Non-current assets 381905000 Non-current assets 446618000 Current assets 163088000 Current assets 271128000 Current assets 280498000 Current assets 325336000 Current assets 286656000 518715000 245524000 6000 0 0.17 2025 46000 0.26 0.33 2026 10054000 100000 10154000 58450000 170782000 35750000 8441000 273423000 54971000 17079000 72050000 355627000 17103000 8988000 26091000 81364000 20123000 691000 13722000 1452000 16032000 3588000 136972000 25000 163088000 27540000 0 217984000 0 66128000 66128000 3799000 45194000 100662000 26738000 3066000 25978000 1626000 207063000 273191000 518715000 35552000 25398000 763083000 489660000 0 677822000 285039000 15973000 498000 16471000 79481000 172157000 34553000 26806000 312997000 62291000 14935000 77226000 406694000 43339000 94587000 137926000 85757000 24915000 0 160000 11587000 6620000 4141000 133180000 22000 271128000 27540000 0 257499000 0 78799000 78799000 6058000 100291000 114066000 61823000 754000 29067000 1925000 313984000 392783000 677822000 0 682575000 375145000 707241000 413565000 733274000 363044000 Investments in property plant and equipment 49084000 Investments in property plant and equipment 86251000 Investments in property plant and equipment 75037000 Investments in property plant and equipment 58190000 Investments in property plant and equipment 79874000 Share capital 27540000 Share capital 27540000 Share capital 27540000 Share capital 27540000 Share capital 27540000 Provisions 0 Provisions 0 Provisions 217000 Provisions 2186000 Provisions 1167000 Non-current liabilities other than provisions 66128000 Non-current liabilities other than provisions 78799000 Non-current liabilities other than provisions 84738000 Non-current liabilities other than provisions 91868000 Non-current liabilities other than provisions 104035000 Current liabilities other than provisions 207063000 Current liabilities other than provisions 313984000 Current liabilities other than provisions 222475000 Current liabilities other than provisions 199622000 Current liabilities other than provisions 265028000 2754000 0 257499000 0 285039000 37256000 20785000 868400000 555402000 0 0 0 0 -580000 -40095000 0 0 2754000 0 217984000 0 36758000 20785000 498000 0 26000 727000 2059000 -811000 5424000 329000 -727000 0 0 0 35452000 25398000 10054000 100000 0 100000 187643000 108162000 539409000 367252000 114543000 79988000 26805000 0 2244000 223000 47470000 -29975000 8597000 837000 3431000 27603000 23980000 96168000 -80796000 30662000 12005000 5081000 9533000 3865000 10763000 -8938000 9877000 1189000 688000 9704000 -28068000 0 0 0 0 0 142640000 84190000 58450000 494824000 324042000 170782000 117178000 81428000 35750000 8441000 0 8441000 Lars Krause-Kjær CEO Tim A. Schwencke Chairman Rune T. Revsbæk Andreas K. Møballe Vice Chairman Steen I. Sønnichsen Franz-Bernhard Their Florian Gollin Jacob M. Andersen (employee representative) Søren M. Jensen (employee representative) Simon Chr. Madsen (employee representative) EY Godkendt Revisionspartnerselskab EY Huset 30700228 Jan Mortensen State Authorised Public Accountant mne40030 8000 Aarhus C, DK Værkmestergade 25 Christian Jøker State Authorised Public Accountant mne31471 30700228 EY Godkendt Revisionspartnerselskab