37183377 2022-01-01 2022-12-31 cmn:ConsolidatedMember 37183377 2022-01-01 2022-12-31 cmn:ConsolidatedMember 0 37183377 2022-01-01 2022-12-31 cmn:ConsolidatedMember 0 37183377 2022-01-01 2022-12-31 cmn:ConsolidatedMember 1 37183377 2022-01-01 2022-12-31 cmn:ConsolidatedMember 2 37183377 2022-01-01 2022-12-31 cmn:ConsolidatedMember 3 37183377 2021-01-01 2021-12-31 cmn:ConsolidatedMember 37183377 2022-01-01 2022-12-31 37183377 2021-01-01 2021-12-31 37183377 2022-12-31 cmn:ConsolidatedMember 37183377 2021-12-31 cmn:ConsolidatedMember 37183377 2022-12-31 37183377 2021-12-31 37183377 2022-01-01 fsa:ContributedCapitalMember cmn:ConsolidatedMember 37183377 2022-01-01 fsa:RevaluationReserveMember cmn:ConsolidatedMember 37183377 2022-01-01 fsa:RetainedEarningsMember cmn:ConsolidatedMember 37183377 2022-01-01 cmn:ConsolidatedMember 37183377 2022-01-01 2022-12-31 fsa:ContributedCapitalMember cmn:ConsolidatedMember 37183377 2022-01-01 2022-12-31 fsa:RevaluationReserveMember cmn:ConsolidatedMember 37183377 2022-01-01 2022-12-31 fsa:RetainedEarningsMember cmn:ConsolidatedMember 37183377 2022-12-31 fsa:ContributedCapitalMember cmn:ConsolidatedMember 37183377 2022-12-31 fsa:RevaluationReserveMember cmn:ConsolidatedMember 37183377 2022-12-31 fsa:RetainedEarningsMember cmn:ConsolidatedMember 37183377 2022-01-01 fsa:ContributedCapitalMember 37183377 2022-01-01 fsa:ProposedDividendRecognisedInEquityMember 37183377 2022-01-01 fsa:RetainedEarningsMember 37183377 2022-01-01 37183377 2022-01-01 2022-12-31 fsa:ContributedCapitalMember 37183377 2022-01-01 2022-12-31 fsa:ProposedDividendRecognisedInEquityMember 37183377 2022-01-01 2022-12-31 fsa:RetainedEarningsMember 37183377 2022-12-31 fsa:ContributedCapitalMember 37183377 2022-12-31 fsa:ProposedDividendRecognisedInEquityMember 37183377 2022-12-31 fsa:RetainedEarningsMember 37183377 2021-01-01 cmn:ConsolidatedMember 37183377 2022-01-01 fsa:AcquiredLicencesMember cmn:ConsolidatedMember 37183377 2022-12-31 fsa:AcquiredLicencesMember cmn:ConsolidatedMember 37183377 2022-01-01 fsa:LandAndBuildingsMember cmn:ConsolidatedMember 37183377 2022-01-01 fsa:PlantAndMachineryMember cmn:ConsolidatedMember 37183377 2022-01-01 fsa:PropertyPlantAndEquipmentInProgressMember cmn:ConsolidatedMember 37183377 2022-01-01 2022-12-31 fsa:LandAndBuildingsMember cmn:ConsolidatedMember 37183377 2022-01-01 2022-12-31 fsa:PlantAndMachineryMember cmn:ConsolidatedMember 37183377 2022-01-01 2022-12-31 fsa:PropertyPlantAndEquipmentInProgressMember cmn:ConsolidatedMember 37183377 2022-12-31 fsa:LandAndBuildingsMember cmn:ConsolidatedMember 37183377 2022-12-31 fsa:PlantAndMachineryMember cmn:ConsolidatedMember 37183377 2022-12-31 fsa:PropertyPlantAndEquipmentInProgressMember cmn:ConsolidatedMember 37183377 2022-01-01 fsa:InvestmentsInGroupEnterprisesMember 37183377 2022-01-01 fsa:ReceivablesFromGroupEnterprisesMember 37183377 2022-01-01 fsa:OtherReceivablesMember 37183377 2022-01-01 2022-12-31 fsa:InvestmentsInGroupEnterprisesMember 37183377 2022-01-01 2022-12-31 fsa:ReceivablesFromGroupEnterprisesMember 37183377 2022-01-01 2022-12-31 fsa:OtherReceivablesMember 37183377 2022-12-31 fsa:InvestmentsInGroupEnterprisesMember 37183377 2022-12-31 fsa:ReceivablesFromGroupEnterprisesMember 37183377 2022-12-31 fsa:OtherReceivablesMember 37183377 2022-01-01 2022-12-31 fsa:ReserveForNetRevaluationAccordingToEquityMethodMember 37183377 2021-01-01 2021-12-31 fsa:ReserveForNetRevaluationAccordingToEquityMethodMember 37183377 2022-01-01 2022-12-31 fsa:RetainedEarningsMember 37183377 2021-01-01 2021-12-31 fsa:RetainedEarningsMember 37183377 2022-01-01 2022-12-31 cmn:ConsolidatedMember 0 37183377 2022-01-01 2022-12-31 cmn:ConsolidatedMember 1 iso4217:EUR xbrli:pure Regnskabsklasse C, mellemstor virksomhed 2022-01-01 2022-12-31 <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>Ledelsespåtegning</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>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 /><td>Bestyrelse og direktion har dags dato behandlet og godkendt årsrapporten for regn­skabsåret 1. januar – 31. december 2022 for Agri Consult 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 /><td>Årsrapporten aflægges i overensstemmelse med årsregnskabsloven.</td></tr><tr><td /><td>Det er vores opfattelse, at koncernregnskabet og årsregnskabet giver et retvisende billede af koncernen og selskabets akti­ver, passiver og finansielle stilling pr. 31. december 2022 samt af resultatet af koncernens aktivi­teter og pengestrømme for regnskabsåret 1. januar – 31. december 2022.</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>Det er endvidere vores opfattelse, at ledelsesberetningen indeholder en retvisende redegørel­se for udviklingen i koncernens og selskabets aktiviteter og økonomiske forhold, årets resultat og for koncernens og selskabets finansielle stilling.</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>Årsrapporten indstilles til generalforsamlingens godkendelse.</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>The Board of Directors and the Executive Board have today discussed and approved the annual report of Agri Consult ApS for the financial year 1 January - 31 December 2022.</td></tr><tr><td /><td>The annual report has been prepared in accordance with the Danish Financial Statements Act.</td></tr><tr><td /><td>In our opinion, the consolidated financial statements and the parent company financial statements give a true and fair view of the financial position of the Group and the Parent Company at 31 December 2022 and of the results of their operations and consolidated cash flows for the financial year 1 January - 31 December 2022.</td></tr><tr><td /><td>Further, in our opinion, the Management's review gives a fair review of the development in the Group's and the Parent Company's operations and financial matters, the results for the year and the Group's and the Parent Company's financial position.</td></tr><tr><td /><td>We recommend that the annual report be approved at the annual general meeting.</td></tr></table> Beder Beder 2023-05-02 <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>Den uafhængige revisors revisionspåtegning</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>Independent auditor’s report</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Til kapitalejerne i Agri Consult 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 /><td>To the shareholders of Agri Consult 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 /><td>Konklusion</td></tr><tr><td /><td>Vi har revideret koncernregnskabet og årsregnskabet for Agri Consult ApS for regnskabsåret 1. januar – 31. december 2022, der omfatter resultatopgørelse, balance, egenkapitalopgørelse og noter, herunder anvendt regnskabspraksis, for såvel koncernen som selskabet, samt pengestrømsopgørelse for kon­cernen. Koncernregnskabet og årsregnskabet udarbejdes efter årsregnskabsloven.</td></tr><tr><td /><td>Det er vores opfattelse, at koncernregnskabet og årsregnskabet giver et retvisende billede af kon­cer­nens og selskabets aktiver, passiver og finansielle stilling pr. 31. december 2022 samt af resultatet af koncernens og selskabets aktiviteter og koncernens pengestrømme for regnskabsåret 1. januar – 31. december 2022 i overensstemmelse med årsregnskabsloven.</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>Opinion</td></tr><tr><td /><td>We have audited the consolidated financial statements and the parent company financial statements of Agri Consult ApS for the financial year 1 January – 31 December 2022, which comprise income statement, balance sheet, statement of changes in equity and notes, including accounting policies, for both the Group and the Parent Company, and a consolidated cash flow statement. The consolidated financial statements and the parent company financial statements are prepared in accordance with the Danish Financial Statements Act.</td></tr><tr><td /><td>In our opinion, the consolidated financial statements and the parent company financial statements give a true and fair view of the financial position of the Group and the Parent Company at 31 December 2022 and of the results of the Group's and the Parent Company's operations as well as the consolidated cash flows for the financial year 1 January – 31 December 2022 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 /><td>Grundlag for konklusion</td></tr><tr><td /><td>Vi har udført vores revision i overensstemmelse med internationale standarder om revision og de yder­ligere krav, der er gældende i Danmark. Vores ansvar ifølge disse standarder og krav er nærmere be­skre­vet i revisionspåtegningens afsnit "Revisors ansvar for revisionen af koncernregnskabet og års­regn­skabet" (herefter benævnt "regnskaberne"). Det er vores opfattelse, at det opnåede revisionsbevis er til­stræk­keligt og egnet som grundlag for vores konklusion.</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>Basis for opinion</td></tr><tr><td /><td>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 consolidated financial statements and the parent company financial statements" (hereinafter collectively referred to as "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 /><td>Uafhængighed</td></tr><tr><td /><td>Vi er uafhængige af koncernen i overensstemmelse med International Ethics Standards Board for Accountants' internationale retningslinjer for revisorers etiske adfærd (IESBA Code) og de yderligere etiske krav, der er gældende i Danmark, ligesom vi har opfyldt vores øvrige etiske forpligtelser i henhold til disse krav og IESBA Code.</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>Independence</td></tr><tr><td /><td>We are independent of the Group 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.</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>Ledelsens ansvar for regnskaberne</td></tr><tr><td /><td>Ledelsen har ansvaret for udarbejdelsen af et koncernregnskab og et årsregnskab, der giver et ret­vi­sende billede i overensstemmelse med årsregnskabsloven. Ledelsen har endvidere ansvaret for den interne kontrol, som ledelsen anser for nødvendig for at udarbejde regnskaberne uden væsentlig fejlinformation, uanset om denne skyldes besvigelser eller fejl.</td></tr><tr><td /><td>Ved udarbejdelsen af regnskaberne er ledelsen ansvarlig for at vurdere koncernens og selskabets evne til at fortsætte driften; at oplyse om forhold vedrørende fortsat drift, hvor dette er relevant; samt at udarbejde regnskaberne på grundlag af regnskabsprincippet om fortsat drift, medmindre ledelsen enten har til hensigt at likvidere koncernen eller selskabet, indstille driften eller ikke har andet realistisk alternativ end at gøre dette.</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>Management's responsibilities for the consolidated financial statements</td></tr><tr><td /><td>Management is responsible for the preparation of consolidated financial statements and parent company 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 /><td>In preparing the financial statements, Management is responsible for assessing the Group's and the Parent 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 Group or the Parent 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 /><td>Revisors ansvar for revisionen af regnskaberne</td></tr><tr><td /><td>Vores mål er at opnå høj grad af sikkerhed for, om regnskaberne som helhed er uden væsentlig fejlinfor­mation, uanset om denne skyldes besvigelser eller fejl, og at afgive en revisionspåtegning med en kon­klu­sion. Høj grad af sikkerhed er et højt niveau af sikkerhed, men er ikke en garanti for, at en revision, der udføres i overensstemmelse med internationale standarder om revision og de yderligere krav, der er gælden­de i Danmark, altid vil afdække væsentlig fejlinformation, når sådan findes. Fejlinformationer kan op­stå som følge af besvigelser eller fejl og kan betragtes som væsentlige, hvis det med rimelighed kan for­ventes, at de enkeltvis eller samlet har indflydelse på de økonomiske beslutninger, som regn­skabs­bruge­rne træffer på grundlag af regnskaberne.</td></tr><tr><td /><td>Som led i en revision, der udføres i overensstemmelse med internationale standarder om revision og de yderligere krav, der er gældende i Danmark, foretager vi faglige vurderinger og opretholder professionel skepsis under revisionen. Herudover</td></tr><tr><td /><td>►     Identificerer og vurderer vi risikoen for væsentlig fejlinformation i regnskaberne, uanset om denne skyldes besvigelser eller fejl, udformer og udfører revisionshandlinger som reaktion på disse risici samt opnår revisionsbevis, der er tilstrækkeligt og egnet til at danne grundlag for vores konklusion. Risikoen for ikke at opdage væsentlig fejlinformation forårsaget af besvigelser er højere end ved væ­sentlig fejlinformation forårsaget af fejl, idet besvigelser kan omfatte sammensværgelser, doku­ment­falsk, bevidste udeladelser, vildledning eller tilsidesættelse af intern kontrol.</td></tr><tr><td /><td>►     Opnår vi forståelse af den interne kontrol med relevans for revisionen for at kunne udforme revi­sionshandlinger, der er passende efter omstændighederne, men ikke for at kunne udtrykke en kon­klusion om effektiviteten af koncernens og selskabets interne kontrol.</td></tr><tr><td /><td>►     Tager vi stilling til, om den regnskabspraksis, som er anvendt af ledelsen, er passende, samt om de regn­skabsmæssige skøn og tilknyttede oplysninger, som ledelsen har udarbejdet, er rimelige. </td></tr><tr><td /><td>►     Konkluderer vi, om ledelsens udarbejdelse af regnskaberne på grundlag af regnskabsprincippet om fortsat drift er passende, samt om der på grundlag af det opnåede revisionsbevis er væsentlig usik­kerhed forbundet med begivenheder eller forhold, der kan skabe betydelig tvivl om koncernens og sel­skabets evne til at fortsætte driften. Hvis vi konkluderer, at der er en væsentlig usikkerhed, skal vi i vores revisionspåtegning gøre opmærksom på oplysninger herom i regnskaberne eller, hvis så­dan­ne oplysninger ikke er tilstrækkelige, modificere vores konklusion. Vores konklusion er baseret på det revisionsbevis, der er opnået frem til datoen for vores revisionspåtegning. Fremtidige begi­ven­heder eller forhold kan dog medføre, at koncernen og selskabet ikke længere kan fortsætte drif­ten.</td></tr><tr><td /><td>►     Tager vi stilling til den samlede præsentation, struktur og indhold af regnskaberne, herunder note­op­lysningerne, samt om regnskaberne afspejler de underliggende transaktioner og begivenheder på en sådan måde, at der gives et retvisende billede heraf.</td></tr><tr><td /><td>►     Opnår vi tilstrækkeligt og egnet revisionsbevis for de finansielle oplysninger for virksomhederne eller forretningsaktiviteterne i koncernen til brug for at udtrykke en konklusion om koncern­regn­skabet. Vi er ansvarlige for at lede, føre tilsyn med og udføre koncernrevisionen. Vi er ene­ansvar­lige for vores revisionskonklusion.</td></tr><tr><td /><td>Vi kommunikerer med den øverste ledelse om bl.a. det planlagte omfang og den tidsmæssige placering af revisionen samt betydelige revisionsmæssige observationer, herunder eventuelle betydelige mangler i intern kontrol, som vi identificerer under revisionen.</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>Auditor's responsibilities for the audit of the financial statements</td></tr><tr><td /><td>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 /><td>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 /><td>►     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 /><td>►     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 Group's and the Parent Company's internal control.</td></tr><tr><td /><td>►     Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management.</td></tr><tr><td /><td>►     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 Group's and the Parent 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 Group and the Parent Company to cease to continue as a going concern.</td></tr><tr><td /><td>►     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 /><td>►     Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.</td></tr><tr><td /><td>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 /><td>Udtalelse om ledelsesberetningen</td></tr><tr><td /><td>Ledelsen er ansvarlig for ledelsesberetningen.</td></tr><tr><td /><td>Vores konklusion om regnskaberne omfatter ikke ledelsesberetningen, og vi udtrykker ingen form for konklusion med sikkerhed om ledelsesberetningen.</td></tr><tr><td /><td>I tilknytning til vores revision af regnskaberne er det vores ansvar at læse ledelsesberetningen og i den forbindelse overveje, om ledelsesberetningen er væsentligt inkonsistent med regnskaberne eller vores viden opnået ved revisionen eller på anden måde synes at indeholde væsentlig fejlinformation.</td></tr><tr><td /><td>Vores ansvar er derudover at overveje, om ledelsesberetningen indeholder krævede oplysninger i henhold til årsregnskabsloven.</td></tr><tr><td /><td>Baseret på det udførte arbejde er det vores opfattelse, at ledelsesberetningen er i overensstemmelse med regnskaberne og er udarbejdet i overensstemmelse med årsregnskabslovens krav. Vi har ikke fun­det væsentlig fejlinformation i ledelsesberetningen.</td></tr><tr><td /><td>Aarhus, den 2. maj 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 /><td>Statement on the Management's review</td></tr><tr><td /><td>Management is responsible for the Management's review.</td></tr><tr><td /><td>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 /><td>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 /><td>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 /><td>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 2023-05-02 Agri Consult ApS 8330 Beder Karlslundvej 14 37183377 2015-10-21 Aarhus 2023-05-02 Erik Jantzen <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 /><td>Ledelsesberetning</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 /><td /><td>Ledelsesberetning</td></tr><tr><td /><td /><td>Uncertainty relating to recognition and measurement (continued)</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 /><td>Management’s review</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 /><td /><td>Management’s review</td></tr><tr><td /><td /><td>Measurement of PD Kútniky (continued)</td></tr><tr><td /><td /><td>The subsidiary, AgroKorn s.r.o., owns equity interests in the Slovakian cooperative, PD Kútniky.</td></tr><tr><td /><td /><td>The cooperative has some special equity instruments called DPL loans, which are particular to Slovakian cooperatives. Due to the very little practice existing in Slovakia in this area, the local position on these DPL loans is very uncertain. In principle, they constitute a right to a share of future distributions of dividend, without these DPL loans carrying any voting rights. There is no legal clarity as to whether or not the DPL loans are senior to the members of the cooperative in the event of liquidation or bankruptcy. DPL loans are traded in the open market to a limited degree, but at very low prices. It is the general view that DPL loans do not have any fair value.</td></tr><tr><td /><td /><td>Based on this, AgroKorn s.r.o.’s equity interests in the cooperative have been determined allowing for the DPL loans, and as a result only on the basis of the nominal share of the capital base, which is 99% (2021: 99%). Consequently, the minority interests’ share of the profit/loss for the year and equity has been calculated at 1% (2021: 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 /><td>Hovedaktiviteter</td></tr><tr><td /><td /><td>Koncernens primære aktivitet er produktion af afgrøder og ungsøer til opdræt i dattervirksomhederne Agrokorn s.r.o., PD Kutniky, Agro Optima s.r.o., Agro Support s.r.o., Agro Center s.r.o. Agricola s.r.o. og Techagra s.r.o.</td></tr><tr><td /><td /><td>Moderselskabet, Agri Consult ApS, leverer primært konsulentydelser til sine dattervirksomheder.</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 /><td>Primary activities</td></tr><tr><td /><td /><td>The primary activity of the Group is the production of crops and breeding of young gilts in the subsidiaries of Agrokorn s.r.o., PD Kútniky, Agro Optima s.r.o., Agro Support s.r.o., Agro Center s.r.o., Agricola s.r.o. and Techagra s.r.o. in Slovakia.</td></tr><tr><td /><td /><td>The Parent Company, Agri Consult ApS, mainly provides consultancy services to its subsidiaries.</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 /><td>Udviklingen i aktiviteter og økonomiske forhold</td></tr><tr><td /><td /><td>Aktiviteterne for regnskabsåret har været planteavl samt import og opdræt af polte.</td></tr><tr><td /><td /><td>Årets resultat har været påvirket af turbulente priser på både input og output</td></tr><tr><td /><td /><td>Nettoresultatet for regnskabsåret var 0,4 mio. EUR mod 0,6 mio. EUR sidste år. Ledelsen vurderer resultatet som tilfredsstillende.</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 /><td>Financial review</td></tr><tr><td /><td /><td>The activities for the financial year comprised the cultivation of plants and import and breeding of porkers.</td></tr><tr><td /><td /><td>Profit for the year was affected by turbulent prices on input as well as on output.</td></tr><tr><td /><td /><td>Net results of operation totalled EUR 0.4 million against EUR 0.6 million last year. Management considers the profit for the year satisfactory.</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 /><td>Forventet udvikling</td></tr><tr><td /><td /><td>Ledelsen forventer et positivt resultat i 2023 i intervallet 0-1 mio. EUR.</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 /><td>Outlook</td></tr><tr><td /><td /><td>Management expects to realise a profit in 2023 in the range of EUR 0-1 million.</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 /><td>Usikkerhed omkring indregning og måling</td></tr><tr><td /><td /><td>Måling af PD Kútniky</td></tr><tr><td /><td /><td>Datterselskabet AgroKorn s.r.o. ejer andele i det slovakiske andelsselskab PD Kútniky.</td></tr><tr><td /><td /><td>Andelsselskabet har nogle særlige egenkapitalinstrumenter, som kaldes DPL-lån, som er nogle særlige lån i slovakiske andelsselskaber. Som følge af den begrænsede praksis, der er i Slovakiet på dette område, er der stor usikkerhed forbundet med den juridiske stilling i forhold til disse DPL-lån. I princippet medfører de en rettighed til en andel af fremtidig udlodning af udbytte, men DPL-lånene giver ingen stemmerettigheder. Lovgivningsmæssigt er det ikke afklaret, hvorvidt disse DPL-lån er efterstillet medlemmerne af andelsselskabet i tilfælde af likvidation eller konkurs. DPL-lånene handles i begrænset omfang på det frie marked, men sælges til en meget lav pris. Generelt opfattes DPL-lånene ikke at have</td></tr><tr><td /><td /><td>nogen dagsværdi.</td></tr><tr><td /><td /><td>På baggrund heraf er AgroKorn s.r.o,’s ejerandele i andelsselskabet værdiansat under hensyntagen til DPL-lånene og som følge heraf kun på baggrund af den nominelle aktie af den ansvarlige kapital, som udgør 99,38 %. Som følge heraf er minoritetsinteressernes andel af årets resultat og egenkapital blevet opgjort til 0,62 %.</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 /><td>Uncertainty relating to recognition and measurement</td></tr><tr><td /><td /><td>Measurement of PD Kútniky</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 /><td>Særlige risici</td></tr><tr><td /><td /><td>Driftsrisici</td></tr><tr><td /><td /><td>Koncernens primære driftsrisiko relaterer sig til datterselskabernes evne til at producere lønsomt, hvilket vil sige de risici, der er forbundet med at udvikle og drive en virksomhed i Slovakiet. Salgsprisen for grise og kornafgrøder er den mest usikre faktor i koncernens økonomi.</td></tr><tr><td /><td /><td>Der er afrikansk svinepest i Slovakiet, dog ikke i det område selskabet driver svineproduktion. Der er investeret meget i biosikkerhed, for at minimere risikoen for smitte. Desuden er hele besætningen dækket af en besætningsforsikring, som erstatter dyrene i tilfælde af afvikling.</td></tr><tr><td /><td /><td>Finansiel eksponering</td></tr><tr><td /><td /><td>Salget foregår primært i euro, og finansieringen er ligeledes arrangeret i euro.</td></tr><tr><td /><td /><td>Koncernens gæld er primært variabelt forrentet.</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 /><td>Specific risks</td></tr><tr><td /><td /><td>Operating risk</td></tr><tr><td /><td /><td>The Group's primary operating risk relates to the subsidiaries' ability to produce profitable, which means the risks associated with developing and operating a company in Slovakia. The sales price for pigs is the most uncertain factor in the Group's economy.</td></tr><tr><td /><td /><td>There is African swine fever in Slovakia, however not in the area in which the Company is operating as pig producer. Heavy investments have been made in biosafety to minimize the risk of infection. Moreover, insurance has been taken out covering the entire livestock, which will be replaced should the animals have to be put down.</td></tr><tr><td /><td /><td>Financial exposure</td></tr><tr><td /><td /><td>Sales are primarily formed in Euro and financing is also made in Euro.</td></tr><tr><td /><td /><td>Liabilities of the Group primarily carry variable interest.</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 /><td>Påvirkning af det eksterne miljø</td></tr><tr><td /><td /><td>Som følge af koncernens aktivitet inden for landbrugsvirksomhed, er koncernen underlagt en lang række miljømæssige krav til produktionen og adfærd i øvrigt, som koncernen overholder.</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 /><td>Impact on the external environment</td></tr><tr><td /><td /><td>As a result of the Group’s activity in agricultural activities, the Group is subject to a wide range of environmental requirements for production and other behavior, which the Group complies with.</td></tr></table> 3585012 1460338 1019263 1105411 0 36992 422468 719935 276865 443070 3040 440030 0 191953 1722703 99824 2265597 36992 422468 423738 1456383 0 1483962 161714 0 0 -1322248 0 447454 -603282 0 0 -155828 -21693 <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 /><td>Anvendt regnskabspraksis</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 /><td /><td>Årsregnskabet er aflagt i EUR (EUR).</td></tr><tr><td /><td /><td>Regnskabsmæssige skøn og vurderinger</td></tr><tr><td /><td /><td>Opgørelsen af den regnskabsmæssige værdi af visse aktiver og forpligtelser kræver vurderinger, skøn og forudsætninger om fremtidige begivenheder. De foretagne skøn og forudsætninger er bl.a. baseret på historiske erfaringer og andre faktorer, som ledelsen vurderer forsvarlige efter omstændighederne, men som i sagens natur er usikre. Forudsætningerne kan ændres, og uventede begivenheder eller omstændigheder kan opstå. Som følge af de risici og usikkerheder, som koncernen er underlagt, kan faktiske udfald afvige fra de foretagne skøn. Det kan være nødvendigt at ændre tidligere foretagne skøn som følge af ændringer i de forhold, der lå til grund for disse skøn, på grund af ny viden eller som følge af efterfølgende begivenheder.</td></tr><tr><td /><td /><td>Skøn, der er særligt væsentlige for regnskabsaflæggelsen for Agri Consult ApS foretages ved indregning af varelager, jordbeholdninger og landbrugsjord.</td></tr><tr><td /><td /><td>De biologiske aktiver, varelager og jordbeholdninger, samt landbrugsjord, måles løbende til dagsværdi med fradrag af realisationsomkostninger.</td></tr><tr><td /><td /><td>Koncernregnskab</td></tr><tr><td /><td /><td>Bestemmende indflydelse</td></tr><tr><td /><td /><td>Koncernregnskabet omfatter modervirksomheden Agri Consult ApS og de dattervirksomheder, hvori Agri Consult ApS har bestemmende indflydelse.</td></tr><tr><td /><td /><td>Bestemmende indflydelse er beføjelsen til at styre en dattervirksomheds finansielle og driftsmæssige beslutninger. Derudover stilles der krav om muligheden for at opnå et økonomisk afkast af investeringen.</td></tr><tr><td /><td /><td>Ved vurderingen af, om modervirksomheden besidder bestemmende indflydelse, tages ligeledes hensyn til de facto-kontrol.</td></tr><tr><td /><td /><td>Eksistensen af potentielle stemmerettigheder, som aktuelt kan udnyttes eller konverteres til yderligere stemmerettigheder, tages med i vurderingen af, om en virksomhed kan opnå beføjelsen til at styre en anden virksomheds finansielle og driftsmæssige beslutninger.</td></tr><tr><td /><td /><td>Koncernregnskabsudarbejdelse</td></tr><tr><td /><td /><td>Koncernregnskabet er udarbejdet som et sammendrag af modervirksomhedens og de enkelte dattervirksomheders regnskaber opgjort efter koncernens regnskabspraksis, elimineret for koncerninterne indtægter og omkostninger, aktiebesiddelser, interne mellemværender og udbytter samt realiserede og urealiserede fortjenester ved transaktioner mellem de konsoliderede virksomheder. Urealiserede fortjenester ved transaktioner med associerede virksomheder elimineres i forhold til koncernens ejerandel i virksomheden. Urealiserede tab elimineres på samme måde som urealiserede fortjenester, medmindre de ikke er udtryk for værdiforringelse.</td></tr><tr><td /><td /><td>I koncernregnskabet indregnes dattervirksomhedernes regnskabsposter 100 %. Minoritetsinteressernes andel af årets resultat og af egenkapitalen i dattervirksomheder, der ikke ejes 100 %, indgår i koncernens resultat og egenkapital, men præsenteres separat.</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 /><td>Accounting policies</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 /><td /><td>The financial statements are presented in EUR (EUR).</td></tr><tr><td /><td /><td>Accounting estimates and assessments</td></tr><tr><td /><td /><td>The calculation of the carrying amount of certain assets and liabilities requires assessments, estimates and assumptions concerning future events. The estimates and assumptions made are among other things based on historical experience and other factors that Management finds reasonable in the circumstances but which are inherently uncertain. The assumptions may change, and unexpected events or circumstances may arise. The Group is subject to risks and uncertainties which mean that the actual outcome may differ from the estimates made. It may be necessary to change previous estimates due to changes in the conditions on which these previous estimates were based or due to new knowledge or subsequent events.</td></tr><tr><td /><td /><td>Estimates that are material to the financial reporting of Agri Consult ApS are made in respect of recognition of inventories, soil and farmland.</td></tr><tr><td /><td /><td>Biological assets, inventories and soil as well as farmland are measured regularly at fair value less realisation costs.</td></tr><tr><td /><td /><td>Consolidated financial statements</td></tr><tr><td /><td /><td>Control</td></tr><tr><td /><td /><td>The consolidated financial statements comprise the Parent Company Agri Consult ApS and subsidiaries controlled by Agri Consult ApS.</td></tr><tr><td /><td /><td>Control means the power to exercise decisive influence over a subsidiary's financial and operating decisions. Moreover, the possibility of yielding a return from the investment is required.</td></tr><tr><td /><td /><td>In assessing whether the Parent Company controls an entity, de facto control is also taken into consideration.</td></tr><tr><td /><td /><td>The existence of potential voting rights that may currently be exercised or converted into additional voting rights is considered when assessing whether an entity may become empowered to exercise decisive influence over another entity's financial and operating decisions.</td></tr><tr><td /><td /><td>Preparation of consolidated financial statements</td></tr><tr><td /><td /><td>The consolidated financial statements are prepared as a consolidation of the Parent Company's and the individual subsidiaries' financial statements, which are prepared according to the Group's accounting policies. On consolidation, intra-group income and expenses, shareholdings, intra-group balances and dividends as well as realised and unrealised gains on intra-group transactions are eliminated. Unrealised gains on transactions with associates are eliminated in proportion to the Group's interest in the entity. Unrealised losses are eliminated in the same way as unrealised gains unless they do not reflect impairment.</td></tr><tr><td /><td /><td>The subsidiaries' financial statement items are included 100% in the consolidated financial statements. Non-controlling interests' share of the profit/loss for the year and of the equity of subsidiaries that are not wholly-owned are included in the Group's profit/loss and equity, respectively, but are presented separately.</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 /><td>Årsrapporten for Agri Consult ApS for 2022 er aflagt i overensstemmelse med årsregnskabslovens bestemmelser for klasse C-virksomheder (mellem). Regnskabet er aflagt efter samme regnskabspraksis som sidste år.</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 /><td>The annual report of Agri Consult ApS for 2022 has been prepared in accordance with the provisions in the Danish Financial Statements Act applying to medium-sized reporting class C entities. The accounting policies used in the preparation of the financial statements are consistent with those of last year.</td></tr><tr><td /><td /><td>Reporting currency</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 /><td>Valutaomregning</td></tr><tr><td /><td /><td>Transaktioner i fremmed valuta omregnes til transaktionsdagens kurs. Valutakursdifferencer, der opstår mellem transaktionsdagens kurs og kursen på betalingsdagen, indregnes i resultatop­gørelsen som en finan­siel post.</td></tr><tr><td /><td /><td>Tilgodehavender, gæld og andre monetære poster i fremmed valuta omregnes til balancedagens valuta­kurs. Forskellen mellem balancedagens kurs og kursen på tidspunktet for tilgodehavendets eller gældens opståen indregnes i resultatopgørelsen under finansielle indtægter og omkostninger.</td></tr><tr><td /><td /><td>Udenlandske tilknyttede virksomheder anses for at være selvstændige enheder. Resultatopgørelserne omregnes til en gennemsnitlig valutakurs for måneden, og balanceposterne omregnes til balancedagens valutakurser. Kursdifferencer, opstået ved omregning af udenlandske tilknyttede virksomheders egenkapital ved årets begyndelse til balancedagens valutakurser og ved omregning af resultatopgørelser fra gennemsnitskurser til balancedagens valutakurser, indregnes direkte i egenkapitalen.</td></tr><tr><td /><td /><td>Kursregulering af mellemværender med selvstændige udenlandske tilknyttede virksomheder, der anses for en del af den samlede nettoinvestering i den tilknyttede virksomhed, indregnes direkte i reserven for valutakursreguleringer under egenkapitalen. Tilsvarende indregnes valutakursgevinster og -tab på lån og afledte finansielle instrumenter indgået til kurssikring af nettoinvesteringer i udenlandske tilknyttede virksomheder direkte i reserven for valutakursreguleringer under egenkapitalen.</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 /><td>Foreign currency translation</td></tr><tr><td /><td /><td>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 /><td /><td>Receivables, 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 /><td /><td>Foreign group entities 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 group entities 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 /><td /><td>Foreign exchange adjustments of balances with independent foreign group entities that are considered part of the total net investment in the group entity are recognised directly in the translation reserve under equity. Correspondingly, foreign exchange gains and losses on loans and derivative financial instruments hedging net investments in foreign group entities are recognised directly in the translation reserve 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 /><td /><td>Resultatopgørelsen</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 /><td>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 /><td /><td>Nettoomsætning</td></tr><tr><td /><td /><td>Virksomheden har som fortolkningsbidrag for indregning af omsætning valgt IAS 11/18.</td></tr><tr><td /><td /><td>Indtægter fra salg af varer indregnes i resultatopgørelsen, når levering og risikoovergang til køber har fundet sted, og hvis indtægten kan opgøres pålideligt og forventes modtaget.</td></tr><tr><td /><td /><td>Nettoomsætningen måles til dagsværdien af det aftalte vederlag ekskl. moms og afgifter opkrævet på vegne af tredjepart. Alle former for afgivne rabatter indregnes i nettoomsætningen.</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 /><td>Revenue</td></tr><tr><td /><td /><td>The Company has chosen IAS 11/18 as interpretation for revenue recognition.</td></tr><tr><td /><td /><td>Income from the sale of goods is recognised in the income statement provided that delivery and transfer of risk to the buyer have taken place and that the income can be reliably measured and is expected to be received.</td></tr><tr><td /><td /><td>Revenue is measured at fair value of the agreed consideration ex. 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 /><td /><td>Andre driftsindtægter og -omkostninger</td></tr><tr><td /><td /><td>Andre driftsindtægter og -omkostninger indeholder regnskabsposter af sekundær karakter i forhold til virksomhedens hovedaktiviteter, herunder fortjeneste eller tab ved salg af anlægsaktiver.</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 /><td>Other operating income and expenses</td></tr><tr><td /><td /><td>Other operating income and operating expenses comprise items of a secondary nature relative to the Company's core activities, including gains or losses on the sale of fixed assets.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Råvarer og hjælpematerialer, mv.</td></tr><tr><td /><td /><td>Råvarer og hjælpematerialer omfatter de omkostninger til råvarer og hjælpematerialer, der er medgået til at opnå årets omsætning.</td></tr><tr><td /><td /><td>Vareforbrug</td></tr><tr><td /><td /><td>Vareforbrug omfatter kostprisen på de varer, som er medgået til at opnå årets nettoomsætning.</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 /><td>Raw materials and consumables, etc.</td></tr><tr><td /><td /><td>Raw materials and consumables include expenses relating to raw materials and consumables used in generating the year's revenue.</td></tr><tr><td /><td /><td>Cost of sales</td></tr><tr><td /><td /><td>Cost of sales includes the cost of goods used in generating the year's 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 /><td /><td>Andre eksterne omkostninger</td></tr><tr><td /><td /><td>Andre eksterne omkostninger omfatter omkostninger vedrørende virksomhedens primære aktivitet, der er afholdt i årets løb, herunder omkostninger til distribution, salg, administration, tab på debitorer m.v.</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 /><td>Other external expenses</td></tr><tr><td /><td /><td>Other external expenses comprise expenses incurred in relation to the Company's principal activities</td></tr><tr><td /><td /><td>during the year, including expenses relating to distribution, sale, administration, bad debts, etc.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Personaleomkostninger</td></tr><tr><td /><td /><td>Personaleomkostninger omfatter løn og gager, inklusive feriepenge og pensioner, samt andre omkostninger til social sikring m.v. til virksomhedens medarbejdere. I personaleomkostninger er fratrukket modtagne godtgørelser fra offentlige myndigheder.</td></tr><tr><td /><td /><td>Resultat af kapitalandele i tilknyttede virksomheder</td></tr><tr><td /><td /><td>I resultatopgørelsen indregnes den forholdsmæssige andel af de underliggende virksomheders resultat efter eliminering af intern avance/tab og efter skat. I tilknyttede virksomheder foretages fuld eliminering af intern avance og tab uden hensyntagen til ejerandele.</td></tr><tr><td /><td /><td>I modervirksomhedens resultatopgørelse indregnes den forholdsmæssige andel af de enkelte tilknyttede virksomheders resultat efter skat efter fuld eliminering af intern avance/tab.</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 /><td>Staff costs</td></tr><tr><td /><td /><td>Staff costs comprise wages and salaries, including compensated absence and pensions, and other social security costs, etc. relating to the Company’s employees. Refunds received from public authorities are deducted from staff costs.</td></tr><tr><td /><td /><td>Profit/loss from equity investments in group entities</td></tr><tr><td /><td /><td>The proportionate share of the results of the underlying entities is recognised in the income statement after elimination of intra-group profit/loss and after tax. Group entities are subject to full elimination of intra-group profit/loss and ownership interests are not considered.</td></tr><tr><td /><td /><td>The proportionate share of the results after tax of the individual group entities is recognised in the income statement of the Parent Company after full elimination of intra-group profits/losses.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Finansielle indtægter og omkostninger</td></tr><tr><td /><td /><td>Finansielle indtægter og omkostninger indeholder renter, realiserede og urealiserede kursgevinster og ­tab vedrørende gæld og transaktioner i fremmed valuta m.v.</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 /><td>Financial income and expenses</td></tr><tr><td /><td /><td>Financial income and expenses comprise interest income and expense, realised and unrealised gains and losses on payables and transactions denominated in foreign currencies, 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 /><td /><td>Skat af årets resultat</td></tr><tr><td /><td /><td>Årets skat, som består af årets aktuelle skat og forskydning i udskudt skat, indregnes i resultatopgørel­sen med den del, der kan henføres til årets resultat, og direkte i egenkapitalen med den del, der kan hen­føres til bevægelser di­rekte i egenkapitalen.</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 /><td>Tax on profit for the year</td></tr><tr><td /><td /><td>Tax for the year comprises current tax for the year and changes in deferred tax. 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 /><td /><td>Balancen</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 /><td>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 /><td /><td>Immaterielle anlægsaktiver</td></tr><tr><td /><td /><td>Jordkontrakter</td></tr><tr><td /><td /><td>Jordkontrakter afskrives over den vurderede økonomiske levetid, der fastlægges på baggrund af de</td></tr><tr><td /><td /><td>underliggende kontrakter. Jordkontrakter afskrives lineært over afskrivnings­perio­den, der udgør maksi­malt 10 år.</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 /><td>Intangible assets</td></tr><tr><td /><td /><td>Land contracts</td></tr><tr><td /><td /><td>Land contracts are amortised over its estimated useful life determined on the basis of underlying contracts. Land contracts are amortised on a straight-line basis over a maximum amortisation period of 10 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 /><td>Materielle anlægsaktiver</td></tr><tr><td /><td /><td>Grunde og bygninger samt produktionsanlæg og maskiner måles til kostpris med fradrag af akkumulerede af- og nedskrivninger. Der afskrives ikke på grunde.</td></tr><tr><td /><td /><td>Landbrugsjord måles til kostpris med tillæg af op­skrivninger. Der afskrives ikke på land­brugs­jord.</td></tr><tr><td /><td /><td>Opskrivninger kan foretages under hensyntagen til en af ledelsen vurderet dagsværdi.</td></tr><tr><td /><td /><td>Afskrivnings­grundlaget er kostpris med fradrag af eventuel forventet restværdi efter afsluttet brugstid.</td></tr><tr><td /><td /><td>Kostprisen omfatter anskaffelsesprisen samt omkostninger direkte tilknyttet anskaffelsen indtil det tids­punkt, hvor aktivet er klar til brug.</td></tr><tr><td /><td /><td>Kostprisen på et samlet aktiv opdeles i separate bestanddele, der afskrives hver for sig, hvis brugstiden på de enkelte bestanddele er forskellige.</td></tr><tr><td /><td /><td>Der foretages lineære afskrivninger over den forventede brugstid og eventuelle restværdier, baseret på følgende vurde­ring af aktivernes forventede brugstider</td></tr><tr><td /><td /><td>Bygninger</td><td>30 år</td></tr><tr><td /><td /><td>Produktionsanlæg og maskiner</td><td>3-10 år</td></tr><tr><td /><td /><td>Fortjeneste og tab ved afhændelse af materielle anlægsaktiver opgøres som forskellen mel­lem salgs­pri­sen med fradrag af salgsomkostninger og den regnskabsmæssige værdi på salgstidspunktet. Fortjeneste eller tab indregnes i resultatopgørelsen under resultat af kapitalandel i dattervirksomhed.</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 /><td>Property, plant and equipment</td></tr><tr><td /><td /><td>Land and buildings as well as plant and machinery are measured at cost less accumulated depreciation and impairment losses. Land is not depreciated.</td></tr><tr><td /><td /><td>Farmland is measured at cost plus revaluations. Farmland is not depreciated.</td></tr><tr><td /><td /><td>Revaluations are made taking into consideration a fair value assessed by Management.</td></tr><tr><td /><td /><td>The basis of depreciation is cost less any expected residual value at the end of the useful life.</td></tr><tr><td /><td /><td>Cost comprises the purchase price and any costs directly attributable to the acquisition until the date when the asset is available for use.</td></tr><tr><td /><td /><td>Individual components of property, plant and equipment that have different useful lives are accounted for as separate items, which are depreciated separately.</td></tr><tr><td /><td /><td>Depreciation is provided on a straight-line basis over the expected useful lives of the assets and any</td></tr><tr><td /><td /><td>residual value. The expected useful lives are as follows</td></tr><tr><td /><td /><td>Buildings</td><td>30 years</td></tr><tr><td /><td /><td>Plant and machinery</td><td>3-10 years</td></tr><tr><td /><td /><td>Gains and losses on the disposal of property, plant and equipment are calculated as the difference</td></tr><tr><td /><td /><td>between the selling price less selling costs and the carrying amount at the date of disposal. Gains or</td></tr><tr><td /><td /><td>losses are recognised in the income statement as profit/loss from equity investments in subsidiaries.</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 /><td>Leasingkontrakter</td></tr><tr><td /><td /><td>Virksomheden har som fortolkningsbidrag for klassifikation og indregning af leasingkontrakter valgt IAS 17.</td></tr><tr><td /><td /><td>Leasingkontrakter vedrørende aktiver, hvor virksomheden har alle væsentlige risici og fordele forbundet med ejendomsretten (finansiel leasing), måles ved første indregning i balancen til laveste værdi af dagsværdi og nutidsværdien af de fremtidige leasingydelser. Ved beregning af nutidsværdien anvendes leasingaftalens interne rentefod eller den alternative lånerente som diskonteringsfaktor. Finansielt leasede aktiver behandles herefter som virksomhedens øvrige aktiver.</td></tr><tr><td /><td /><td>Den kapitaliserede restleasingforpligtelse indregnes i balancen som en gældsforpligtelse, og leasingydelsens rentedel indregnes over kontraktens løbetid i resultatopgørelsen.</td></tr><tr><td /><td /><td>Alle øvrige leasingkontrakter betragtes som operationel leasing. Ydelser i forbindelse med operationel leasing og øvrige lejeaftaler indregnes i resultatopgørelsen over kontraktens løbetid. Virksomhedens samlede forpligtelse vedrørende operationelle leasing- og lejeaftaler oplyses under eventualposter m.v.</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 /><td>Leases</td></tr><tr><td /><td /><td>The Company has chosen IAS 17 as interpretation for classification and recognition of leases.</td></tr><tr><td /><td /><td>On initial recognition, leases for assets that transfer substantially all the risks and rewards incident to ownership to the Company (finance leases) are measured in the balance sheet at the lower of fair value and the present value of future lease payments. In calculating the present value, the interest rate implicit in the lease or the incremental borrowing rate is used as the discount factor. Assets held under finance leases are subsequently accounted for as the Company's other assets.</td></tr><tr><td /><td /><td>The capitalised residual lease commitment is recognised in the balance sheet as a liability, and the interest element of the lease payment is recognised in the income statement over the term of the lease.</td></tr><tr><td /><td /><td>All other leases are considered operating leases. Payments relating to operating leases and any other leases are recognised in the income statement over the term of the lease. The Company's total liabilities relating to operating leases and other leases are disclosed under contingencies, 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 /><td /><td>Kapitalandele i tilknyttede virksomheder i selskabsregnskabet</td></tr><tr><td /><td /><td>Kapitalandele i tilknyttede virksomheder måles i modervirksomhedens årsregnskab efter den indre værdis metode. Virksomheden har valgt at anse indre værdis metode som en målemetode.</td></tr><tr><td /><td /><td>Ved første indregning måles kapitalandele i tilknyttede virksomheder til kostpris med tillæg af transaktionsomkostninger.</td></tr><tr><td /><td /><td>Kostprisen værdireguleres med resultatandele efter skat opgjort efter koncernens regnskabspraksis med fradrag eller tillæg af urealiserede koncerninterne avancer/tab.</td></tr><tr><td /><td /><td>Konstaterede merværdier og eventuel goodwill i forhold til den underliggende virksomheds regnskabsmæssige indre værdi amortiseres i overensstemmelse med regnskabspraksis i koncernregnskabet. Negativ goodwill indregnes i resultatopgørelsen.</td></tr><tr><td /><td /><td>Modtaget udbytte fradrages den regnskabsmæssige værdi.</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 /><td>Investments in subsidiaries</td></tr><tr><td /><td /><td>Equity investments in group entities are measured according to the equity method in the parent company financial statements. The Parent Company has chosen to consider the equity method a measurement method.</td></tr><tr><td /><td /><td>On initial recognition, equity investments in group entities and associates and participating interests are measured at cost, i.e. plus transaction costs.</td></tr><tr><td /><td /><td>The cost is adjusted by shares of profit/loss after tax calculated in accordance with the Group's accounting policies less or plus unrealised intra-group gains/losses.</td></tr><tr><td /><td /><td>Identified increases in value and goodwill, if any, compared to the underlying entity's net asset value are amortised in accordance with the accounting policies in the consolidated financial statements. Negative goodwill is recognised in the income statement.</td></tr><tr><td /><td /><td>Dividend received is deducted from the carrying amount.</td></tr><tr><td /><td /><td>Net revaluation of equity investments is recognised under equity in the net revaluation reserve according to the equity method to the extent that the carrying amount exceeds cost.</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 /><td>Værdiforringelse af aktiver</td></tr><tr><td /><td /><td>Den regnskabsmæssige værdi af immaterielle og materielle anlægsaktiver samt kapitalandele i tilknyttede vurderes årligt for indika­tio­ner på værdiforringelse, ud over det som udtrykkes ved afskrivning.</td></tr><tr><td /><td /><td>Foreligger der indikationer på værdiforringelse, foretages nedskrivningstest af hvert enkelt aktiv hen­holds­vis gruppe af aktiver. Der foretages nedskrivning til genindvindingsværdien, hvis denne er lavere end den regnskabs­mæssige værdi.</td></tr><tr><td /><td /><td>Som genindvindingsværdi anvendes den højeste værdi af nettosalgspris og kapitalværdi. Kapitalværdien opgøres som nutidsværdien af de forventede nettopengestrømme fra anvendelsen af aktivet eller aktiv­gruppen, og forven­tede nettopengestrømme ved salg af aktivet eller aktivgruppen efter endt brugstid.</td></tr><tr><td /><td /><td>Tidligere indregnede nedskrivninger tilbageføres, når begrundelsen for nedskrivningen ikke længere består. Nedskrivninger på goodwill tilbageføres ikke.</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 /><td>Impairment of assets</td></tr><tr><td /><td /><td>The carrying amount of intangible assets and property, plant and equipment and equity investments in group entities is subject to an annual test for indications of impairment other than the decrease in value reflected by amortisation or depreciation.</td></tr><tr><td /><td /><td>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 /><td /><td>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><tr><td /><td /><td>Previously recognised impairment losses are reversed when the reason for recognition no longer exists. Impairment losses on goodwill are not reversed.</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 /><td>Varebeholdninger</td></tr><tr><td /><td /><td>Varebeholdninger måles til kostpris efter FIFO-metoden. Er nettorealisationsværdien lavere end kost­prisen, ned­skrives til denne lavere værdi.</td></tr><tr><td /><td /><td>Kostpris for handelsvarer samt råvarer og hjælpematerialer omfatter anskaffelsespris med tillæg af hjem­ta­gelsesom­kostninger.</td></tr><tr><td /><td /><td>Kostpris for fremstillede færdigvarer samt varer under fremstilling omfatter kostpris for råvarer, hjæl­pe­mate­rialer, direkte løn og direkte produktionsomkostninger. Indirekte produktionsomkostninger samt låneomkostninger ind­regnes ikke i kostprisen.</td></tr><tr><td /><td /><td>Nettorealisationsværdi for varebeholdninger opgøres som salgssum med fradrag af omkostninger, der af­holdes for at effektuere salget, og fastsættes under hen­syntagen til omsættelighed, ukurans og udvikling i forventet salgspris.</td></tr><tr><td /><td /><td>Værdien af varebeholdninger er opgjort til kostpriser.</td></tr><tr><td /><td /><td>Biologiske aktiver, omfattende afgrøder og dyr, måles til det laveste af kostpris og nettorealisationsværdien.</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 /><td>Inventories</td></tr><tr><td /><td /><td>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 /><td /><td>Goods for resale and raw materials and consumables are measured at cost, comprising purchase price plus delivery costs.</td></tr><tr><td /><td /><td>Finished goods and work in progress are measured at cost, comprising the cost of raw materials, consumables, direct wages and salaries and direct production overheads. Indirect production overheads and borrowing costs are not included in the cost.</td></tr><tr><td /><td /><td>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><tr><td /><td /><td>Inventories are stated at cost.</td></tr><tr><td /><td /><td>Biological assets, comprising crops and live animals, are measured at the lower of cos and net realisable value.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Tilgodehavender</td></tr><tr><td /><td /><td>Tilgodehavender måles til amortiseret kostpris.</td></tr><tr><td /><td /><td>Virksomheden har som fortolkningsbidrag for nedskrivninger af finansielle tilgodehavender valgt IAS 39.</td></tr><tr><td /><td /><td>Der foretages nedskrivning til imødegåelse af tab, hvor der vurderes at være indtruffet en objektiv indikation på, at et tilgodehavende eller en portefølje af tilgodehavender er værdiforringet. Hvis der foreligger en objektiv indikation på, at et individuelt tilgodehavende er værdiforringet, foretages nedskrivning på individuelt niveau.</td></tr><tr><td /><td /><td>The Company has chosen IAS 39 as interpretation for impairment of financial receivables.</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 /><td>Receivables</td></tr><tr><td /><td /><td>Receivables are measured at amortised cost.</td></tr><tr><td /><td /><td>Write-down for bad and doubtful debts is made when there is objective evidence that a receivable or a portfolio of receivables has been impaired. If there is objective evidence that an individual receivable has been impaired, an impairment loss is recognised on an individual 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 /><td /><td>Periodeafgrænsningsposter</td></tr><tr><td /><td /><td>Periodeafgrænsningsposter, indregnet under aktiver, omfatter afholdte omkostninger vedrørende efterfølgende regnskabsår.</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 /><td>Prepayments</td></tr><tr><td /><td /><td>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 /><td /><td>Likvider</td></tr><tr><td /><td /><td>Likvider omfatter likvide beholdninger og kortfristede værdipapirer, som uden hindring kan omsættes til likvide beholdninger, og hvorpå der kun er ubetydelige risici for værdiændringer.</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 /><td>Cash and cash equivalents</td></tr><tr><td /><td /><td>Cash comprises cash and short-term securities that are readily convertible into cash and subject only to minor risks of changes in value.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Egenkapital</td></tr><tr><td /><td /><td>Reserve for opskrivninger</td></tr><tr><td /><td /><td>Reserven omfatter opskrivninger af landbrugsjord i forhold til kostpris efter fradrag af udskudt skat.</td></tr><tr><td /><td /><td>The reserve comprises revaluations of farmland relative to cost net of deferred tax.</td></tr><tr><td /><td /><td>Reserve for nettoopskrivning efter den indre værdis metode</td></tr><tr><td /><td /><td>Reserve for nettoopskrivning efter den indre værdis metode omfatter nettoopskrivninger af kapitalandele i dattervirksomheder i forhold til kostpris. Reserven kan elimineres ved underskud, realisation af kapitalandele eller ændring i regnskabsmæssige skøn. Reserven kan ikke indregnes med et negativt</td></tr><tr><td /><td /><td>beløb.</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 /><td>Equity</td></tr><tr><td /><td /><td>Revaluation reserve</td></tr><tr><td /><td /><td>Net revaluation reserve according to the equity method</td></tr><tr><td /><td /><td>Net revaluation of equity investments in subsidiaries is recognised at cost in the reserve for net revaluations according to the equity method. The reserve can be eliminated in case of losses, realisation of equity investments or changes in accounting estimates. The reserve cannot be recognised at a negative amount.</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 /><td>Udbytte</td></tr><tr><td /><td /><td>Foreslået udbytte indregnes som en forpligtelse på tidspunktet for vedtagelse på generalforsamlingen (deklareringstidspunktet). Udbytte, som forventes udbetalt for året, vises som en særskilt post under egenkapitalen.</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 /><td>Dividends</td></tr><tr><td /><td /><td>Proposed dividend is recognised as a liability at the date when it is adopted at the annual general meeting (declaration date). Dividend expected to be distributed for the year is presented as a separate line item 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 /><td /><td>Selskabsskat og udskudt skat</td></tr><tr><td /><td /><td>Aktuelle skatteforpligtelser og tilgodehavende aktuel skat indregnes i balancen som beregnet skat af årets skatteplig­tige indkomst, reguleret for skat af tidligere års skattepligtige indkomster.</td></tr><tr><td /><td /><td>Udskudt skat måles efter den balanceorienterede gældsmetode af alle midlertidige forskelle mellem regn­skabs­mæssig og skattemæssig værdi af aktiver og forpligtelser. I de tilfælde, f.eks. vedrørende aktier, hvor opgørelse af skatteværdien kan foretages efter alternative beskatningsregler, måles ud­skudt skat på grundlag af den planlagte anvendelse af aktivet hen­holdsvis afvikling af forpligtelsen.</td></tr><tr><td /><td /><td>Udskudte skatteaktiver, herunder skatteværdien af fremførselsberettiget skattemæssigt under­skud, måles til den værdi, hvortil de forventes at kunne realiseres, enten ved udligning i skat af fremtidig indtjening eller ved modregning i ud­skudte skatteforpligtelser inden for samme juridi­ske skatteenhed. Eventuelle udskudte nettoaktiver måles til nettoreali­sationsværdi.</td></tr><tr><td /><td /><td>Udskudt skat måles på grundlag af de skatteregler og skattesatser, der med balancedagens lovgivning vil være gæl­dende, når den udskudte skat forventes udløst som aktuel skat. Ændring i udskudt skat som følge af ændringer i skattesatser indregnes i resultatopgørelsen.</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 /><td>Corporation tax and deferred tax</td></tr><tr><td /><td /><td>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.</td></tr><tr><td /><td /><td>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 Where alternative tax rules can be applied to determine the tax base, e.g. in respect of shares, deferred tax is measured based on the planned use of the asset or settlement of the liability, respectively.</td></tr><tr><td /><td /><td>Deferred 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. Deferred net assets, if any, are measured at net realisable value.</td></tr><tr><td /><td /><td>Deferred tax is measured according to the tax rules and at the tax rates applicable at the balance sheet date when the deferred tax is expected to crystallise as current tax. The change in deferred tax as a result of changes in tax rates is recognised in the 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 /><td /><td>Gældsforpligtelser</td></tr><tr><td /><td /><td>Finansielle forpligtelser, som omfatter gæld til kreditinstitutter, leverandørgæld og gæld til tilknyttede virksomheder, indregnes ved lånoptagelse til kostpris, svarende til det modtagne provenu efter fradrag af afholdte transaktionsomkostninger. I efterfølgende perioder måles de finansielle forpligtelser til amortiseret kostpris.</td></tr><tr><td /><td /><td>I finansielle forpligtelser indregnes tillige den kapitaliserede restleasingforpligtelse på finansielle leasingkontrakter.</td></tr><tr><td /><td /><td>Øvrige gældsforpligtelser måles til nettorealisationsværdi.</td></tr><tr><td /><td /><td>Dagsværdimåling</td></tr><tr><td /><td /><td>Selskabet anvender dagsværdibegrebet til indregning af værdien af landbrugsjord.</td></tr><tr><td /><td /><td>Dagsværdien defineres som den pris, der kan opnås ved at sælge et aktiv eller skal betales for at overdrage en forpligtelse i en almindelig transaktion på et marked med uafhængige parter. Dagsværdiansættelse tager udgangspunkt i et primært marked.</td></tr><tr><td /><td /><td>Der er tre niveauer i dagsværdihierarkiet til opgørelse af værdien</td></tr><tr><td /><td /><td>1.     Opgørelse ud fra dagsværdi i et tilsvarende marked</td></tr><tr><td /><td /><td>2.     Opgørelse efter anerkendte værdiansættelsesmetoder på baggrund af observerbare markeds-informationer</td></tr><tr><td /><td /><td>3.     Opgørelse ud fra anerkendte værdiansættelsesmetoder og rimelige skøn.</td></tr><tr><td /><td /><td>Dagsværdien af landbrugsjord indgår på niveau 3 i dagsværdihierakiet.</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 /><td>Liabilities</td></tr><tr><td /><td /><td>Financial liabilities comprising amounts payable to credit institutions, trade payables and payables to group entities are recognised at the date of borrowing at cost, corresponding to the proceeds received less transaction costs paid. In subsequent periods, financial liabilities are measured at amortised cost.</td></tr><tr><td /><td /><td>Financial liabilities also include the capitalised residual lease commitment in respect of finance leases.</td></tr><tr><td /><td /><td>Other liabilities are measured at net realisable value.</td></tr><tr><td /><td /><td>Fair value measurement</td></tr><tr><td /><td /><td>The Company uses the fair value concept for the recognition of the value of farmland.</td></tr><tr><td /><td /><td>Fair value is defined as the price that could be received when selling an asset or paid transfer a liability in an orderly transaction at a market with independent parties. Fair value is determined based on the principal market.</td></tr><tr><td /><td /><td>There are three levels in the fair value hierarchy for stating the value</td></tr><tr><td /><td /><td>1.     Statement of fair value in a corresponding market</td></tr><tr><td /><td /><td>2.     Statement based on generally accepted valuation methods on the basis of observable market information</td></tr><tr><td /><td /><td>3.     Statement based on generally accepted valuation methods and fair estimates.</td></tr><tr><td /><td /><td>The fair value of farmland is at level three of the fair value hierarchy.</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 /><td>Pengestrømsopgørelse</td></tr><tr><td /><td /><td>Pengestrømsopgørelsen viser koncernens pengestrømme fordelt på drifts-, investerings- og finansie­rings­aktivitet for året, årets forskydning i likvider og koncernens likvider ved årets begyndelse og slut­ning.</td></tr><tr><td /><td /><td>Pengestrømme fra driftsaktivitet opgøres som koncernens andel af resultatet reguleret for ikke-kon­tante driftsposter, ændring i driftskapital og betalt selskabsskat.</td></tr><tr><td /><td /><td>Pengestrømme fra investeringsaktivitet omfatter betaling i forbindelse med køb og salg af virksomheder og aktiviteter samt køb og salg af immaterielle, materielle og finansielle anlægsaktiver.</td></tr><tr><td /><td /><td>Pengestrømme fra finansieringsaktivitet omfatter ændringer i størrelse eller sammensætning af kon­cer­nens aktiekapital og omkostninger forbundet hermed samt optagelse af lån, afdrag på rentebærende gæld og betaling af udbytte til selskabsdeltagere.</td></tr><tr><td /><td /><td>Likvider omfatter likvide beholdninger og kortfristede værdipapirer med en løbetid under 3 måneder, og som uden hindring kan omsættes til likvide beholdninger, og hvorpå der kun er ubetydelige risici for værdi­ændringer.</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 /><td>Cash flow statement</td></tr><tr><td /><td /><td>The cash flow statement shows the Group's cash flows from operating, investing and financing activities for the year, the year's changes in cash and cash equivalents as well as the Group's cash and cash equivalents at the beginning and end of the year.</td></tr><tr><td /><td /><td>Cash flows from operating activities are calculated as the Group's share of the profit/loss adjusted for non-cash operating items, changes in working capital and corporation tax paid.</td></tr><tr><td /><td /><td>Cash flows from investing activities comprise payments in connection with acquisitions and disposals of enterprises and activities and of intangible assets, property, plant and equipment and investments.</td></tr><tr><td /><td /><td>Cash flows from financing activities comprise changes in the size or composition of the Group's share capital and related costs as well as the raising of loans, repayment of interest-bearing debt and payment of dividends to shareholders.</td></tr><tr><td /><td /><td>Cash and cash equivalents comprise cash and short-term marketable securities with a term of three months or less which are subject to an insignificant risk of changes in value.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Begivenheder efter balancedagen</td></tr><tr><td /><td /><td>Der er ikke efter balancedagen indtruffet begivenheder af væsentlig betydning for koncernens og virksomhedens finansielle stilling.</td></tr><tr><td /><td /><td>Usikkerhed ved indregning og måling</td></tr><tr><td /><td /><td>Datterselskabet AgroKorn s.r.o. ejer kapitalandele i det slovakiske andelsselskab PD Kútniky.</td></tr><tr><td /><td /><td>Andelsselskabet har særlige egenkapitalinstrumenter kaldet DPL-lån, som er særligt for slovakiske</td></tr><tr><td /><td /><td>andelsselskaber. På grund af den meget begrænsede praksis, der findes i Slovakiet på dette område, er den legale position af disse DPL-lån meget usikker. Principielt giver de en ret til en andel af de fremtidige udbytteudlodninger, uden at DPL-lånene har stemmeret. Der er ingen juridisk afklaring om, hvorvidt DPL-lånene har forrang for resten af andelsselskabets medlemmer i tilfælde af likvidation eller konkurs. DPL-lån handles på det frie marked i et meget begrænset omfang, men til meget lave priser. Det er den generelle opfattelse, at DPL-lån ikke har nogen egentlig dagsværdi.</td></tr><tr><td /><td /><td>På grundlag heraf er AgroKorn s.r.o.'s ejerandel i andelsselskabet blevet fastlagt, under hensyntagen til DPL-lånene, på baggrund af selskabets nominelle andel af udstedte ejerandele, som er 99,38 %.</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 /><td>Events after the balance sheet date</td></tr><tr><td /><td /><td>No events materially affecting the Group’s financial position have occurred after the financial year-end.</td></tr><tr><td /><td /><td>Uncertainty related to recognition and measurement</td></tr><tr><td /><td /><td>Indregning og måling af PD Kútniky</td></tr><tr><td /><td /><td>Recognition and measurement of PD Kútniky</td></tr><tr><td /><td /><td>The subsidiary AgroKorn s.r.o. holds equity investments in the Slovak co-operative society PD Kútniky.</td></tr><tr><td /><td /><td>The co-operative society has special equity instruments called DPL loans, which is specific to Slovak co-operative societies. Based on the very limited practice in this area in Slovakia, the legal position of these DPL loans is very uncertain. In principle, the loans give the right to a share of future distribution of dividend without the loans having voting rights. There is no legal clarification as to whether the DPL loans take precedence over the rest of the co-operative society's members in case of liquidation or bankruptcy. DPL loans are traded in the free market to a very limited extent but at very low prices. It is the general conception that DPL loans have no real fair value.</td></tr><tr><td /><td /><td>Consequently, AgroKorn s.r.o.'s ownership interest in the co-operative society has been determined taking into consideration the DPL loans based on the Company's nominal share of issued ownership interests, which is 99.38%.</td></tr></table> 1023660 311350 74117 51211 48 <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="5" align="left" valign="middle" ><b>Af- og nedskrivninger af immaterielle og materielle anlægsaktiver</b></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" ><b>Impairment loss and depreciation on/amortisation of intangible assets and</b></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" ><b>property, plant and equipment</b></td></tr><tr><td colspan="5"></td></tr><tr><td width="54%" ></td><td width="15%" align="right" valign="middle" ><b>2022</b></td><td width="7%" align="right" valign="middle" ><b>2021</b></td><td width="14%" ></td><td width="10%" ></td></tr><tr><td width="54%" ></td><td width="15%" colspan="1" align="left" valign="middle" ><b>EUR/EUR</b></td><td width="31%" colspan="3" align="left" valign="middle" ><b>EUR/EUR</b></td></tr><tr><td width="54%" colspan="1" align="left" valign="middle" >.Jordkontrakter</td><td width="15%" align="left" valign="middle" >274.592</td><td width="7%" align="left" valign="middle" >274.592</td><td width="14%" ></td><td width="10%" ></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >.Land contracts</td></tr><tr><td width="54%" colspan="1" align="left" valign="middle" >.Grunde og bygninger</td><td width="15%" align="left" valign="middle" >280.067</td><td width="7%" align="left" valign="middle" >284.525</td><td width="14%" ></td><td width="10%" ></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >.Land and buildings</td></tr><tr><td width="54%" colspan="1" align="left" valign="middle" >.Produktionsanlæg og maskiner</td><td width="15%" align="left" valign="middle" >464.604</td><td width="7%" align="left" valign="middle" >438.436</td><td width="14%" ></td><td width="10%" ></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >.Plant and machinery</td></tr><tr><td colspan="5"></td></tr><tr><td width="54%" ></td><td width="15%" align="left" valign="middle" >1.019.263</td><td width="7%" align="left" valign="middle" >997.553</td><td width="14%" ></td><td width="10%" ></td></tr></table> 0 36992 292274 -15409 0 274592 <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>MRegnskabsmæssig værdi pr. 31. december 2022, hvis opskrivning ikke havde været foretaget</td><td>0</td><td>3148458</td><td>0</td><td>0</td></tr></table> 500000 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="4" align="left" valign="middle" ><b>Nærtstående parter</b></td></tr><tr><td colspan="4"></td></tr><tr><td width="59%" colspan="1" align="left" valign="middle" ><b>Navn</b></td><td width="16%" colspan="1" align="left" valign="middle" ><b>Retsform</b></td><td width="25%" colspan="2" align="left" valign="middle" ><b>Hjemsted</b></td></tr><tr><td width="59%" colspan="1" align="left" valign="middle" ><b>Name</b></td><td width="16%" colspan="1" align="left" valign="middle" ><b>Legal form</b></td><td width="8%" colspan="1" align="left" valign="middle" ><b>Domicile</b></td><td width="17%" colspan="1" align="left" valign="middle" ><b>Interest</b></td></tr><tr><td colspan="4"></td></tr><tr><td width="100%" colspan="4" align="left" valign="middle" ><b>Datterselskaber</b></td></tr><tr><td colspan="4"></td></tr><tr><td width="59%" ></td><td width="16%" colspan="1" align="left" valign="middle" >Limited liability company</td><td width="25%" colspan="2" align="left" valign="middle" >Slovakia</td></tr><tr><td width="59%" colspan="1" align="left" valign="middle" >Agro Support s.r.o. *****</td><td width="16%" colspan="1" align="left" valign="middle" >Kapitalselskab</td><td width="25%" colspan="2" align="left" valign="middle" >Slovakiet</td></tr><tr><td width="59%" ></td><td width="16%" colspan="1" align="left" valign="middle" >Limited liability company</td><td width="25%" colspan="2" align="left" valign="middle" >Slovakia</td></tr><tr><td width="59%" colspan="1" align="left" valign="middle" >AgriCola s.r.o.*</td><td width="16%" colspan="1" align="left" valign="middle" >Kapitalselskab</td><td width="25%" colspan="2" align="left" valign="middle" >Slovakiet</td></tr><tr><td width="59%" ></td><td width="16%" colspan="1" align="left" valign="middle" >Limited liability company</td><td width="25%" colspan="2" align="left" valign="middle" >Slovakia</td></tr><tr><td width="59%" colspan="1" align="left" valign="middle" >Techagra s.r.o. *</td><td width="16%" colspan="1" align="left" valign="middle" >Kapitalselskab</td><td width="25%" colspan="2" align="left" valign="middle" >Slovakiet</td></tr><tr><td width="59%" ></td><td width="16%" colspan="1" align="left" valign="middle" >Limited liability company</td><td width="25%" colspan="2" align="left" valign="middle" >Slovakia</td></tr><tr><td width="59%" colspan="1" align="left" valign="middle" >AgroKorn s.r.o.** / *****</td><td width="16%" colspan="1" align="left" valign="middle" >Kapitalselskab</td><td width="8%" colspan="1" align="left" valign="middle" >Slovakiet</td><td width="17%" align="left" valign="middle" >100,00%</td></tr><tr><td width="59%" ></td><td width="16%" colspan="1" align="left" valign="middle" >Limited liability company</td><td width="25%" colspan="2" align="left" valign="middle" >Slovakia</td></tr><tr><td width="59%" colspan="1" align="left" valign="middle" >PD Kútniky ***</td><td width="16%" colspan="1" align="left" valign="middle" >Kapitalselskab</td><td width="8%" colspan="1" align="left" valign="middle" >Slovakiet</td><td width="17%" align="left" valign="middle" >99,38%</td></tr><tr><td width="59%" ></td><td width="16%" colspan="1" align="left" valign="middle" >Limited liability company</td><td width="25%" colspan="2" align="left" valign="middle" >Slovakia</td></tr><tr><td width="59%" colspan="1" align="left" valign="middle" >Agro Optima s.r.o. ****</td><td width="16%" colspan="1" align="left" valign="middle" >Kapitalselskab</td><td width="8%" colspan="1" align="left" valign="middle" >Slovakiet</td><td width="17%" align="left" valign="middle" >100,00%</td></tr><tr><td colspan="4"></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="2" align="left" valign="middle" ><b>Periodeafgrænsningsposter</b></td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" ><b>Prepayments</b></td></tr><tr><td width="78%" ></td><td width="22%" colspan="1" align="left" valign="middle" >Periodeafgrænsningsposter omfatter periodisering af omkostninger, der vedrører efterfølgende år, herunder forsikringer, ejendomsskatter, leasingydelser og lignende.</td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" >Prepayments include prepayments of expenses relating to subsequent years, including insurance, property taxes, lease payments etc.</td></tr><tr><td colspan="2"></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>Selskabskapital</b></td></tr><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" >Selskabskapitalen har uændret været 6.694 EUR de seneste 5 år.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The Company’s share capital has remained EUR 6,694 over the past 5 years</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 width="100%" colspan="3" align="left" valign="middle" ><b>Minoritetsinteresser</b></td></tr><tr><td colspan="3"></td></tr><tr><td width="70%" ></td><td width="19%" align="right" valign="middle" ><b>2022</b></td><td width="11%" align="right" valign="middle" ><b>2021</b></td></tr><tr><td width="70%" colspan="1" align="left" valign="middle" ><b>Non-controlling interests</b></td><td width="19%" colspan="1" align="left" valign="middle" ><b>EUR/EUR</b></td><td width="11%" colspan="1" align="left" valign="middle" ><b>EUR/EUR</b></td></tr><tr><td width="70%" colspan="1" align="left" valign="middle" >Minoritetsinteresser 1. januar</td><td width="19%" align="right" valign="middle" >51.299</td><td width="11%" align="right" valign="middle" >48.951</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Non-controlling interests at 1 January</td></tr><tr><td width="70%" colspan="1" align="left" valign="middle" >Andel af årets resultat</td><td width="19%" align="right" valign="middle" >3.040</td><td width="11%" align="right" valign="middle" >2.358</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Share of profit for the year</td></tr><tr><td width="70%" colspan="1" align="left" valign="middle" >Andel af egenkapitalbevægelser</td><td width="19%" align="right" valign="middle" >1.039</td><td width="11%" align="right" valign="middle" >-10</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Portion of changes in equity</td></tr><tr><td colspan="3"></td></tr><tr><td width="70%" colspan="1" align="left" valign="middle" ><b>Minoritetsinteresser 31. december</b></td><td width="19%" align="right" valign="middle" >55.378</td><td width="11%" align="right" valign="middle" >51.299</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Non-controlling interests at 31 December</b></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="5" align="left" valign="middle" ><b>Udskudt skat</b></td></tr><tr><td colspan="5"></td></tr><tr><td width="54%" ></td><td width="15%" align="right" valign="middle" ><b>2022</b></td><td width="7%" align="right" valign="middle" ><b>2021</b></td><td width="14%" ></td><td width="10%" ></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" ><b>Deferred tax</b></td></tr><tr><td width="54%" colspan="1" align="left" valign="middle" >Udskudt skat 1. januar</td><td width="15%" align="right" valign="middle" >1.460.520</td><td width="7%" align="right" valign="middle" >1.248.696</td><td width="14%" ></td><td width="10%" ></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Deferred tax at 1 January</td></tr><tr><td width="54%" colspan="1" align="left" valign="middle" >Udskudt skat for året, via resultatopgørelsen</td><td width="15%" align="right" valign="middle" >-15.409</td><td width="7%" align="right" valign="middle" >1.146</td><td width="14%" ></td><td width="10%" ></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Deferred tax adjustment for the year, income statement</td></tr><tr><td width="54%" colspan="1" align="left" valign="middle" >Udskudt skat for året, via egenkapitalen</td><td width="15%" align="right" valign="middle" >51.301</td><td width="7%" align="right" valign="middle" >211.120</td><td width="14%" ></td><td width="10%" ></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Deferred tax adjustment for the year, through equity</td></tr><tr><td width="54%" colspan="1" align="left" valign="middle" >Andre reguleringer, herunder valutakursreguleringer</td><td width="15%" align="right" valign="middle" >435</td><td width="7%" align="right" valign="middle" >-7</td><td width="14%" ></td><td width="10%" ></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Other adjustments, including foreign exchange adjustment</td></tr><tr><td colspan="5"></td></tr><tr><td width="54%" colspan="1" align="left" valign="middle" ><b>Udskudt skat 31. december</b></td><td width="15%" align="right" valign="middle" >1.496.847</td><td width="7%" align="right" valign="middle" >1.460.955</td><td width="14%" ></td><td width="10%" ></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" ><b>Deferred tax at 31 December</b></td></tr><tr><td colspan="5"></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" ><b>Udskudt skat indregnes således i balancen</b></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Analysis of the deferred tax</td></tr><tr><td width="69%" colspan="2" align="left" valign="middle" >Udskudte skatteaktiver</td><td width="7%" align="right" valign="middle" >0</td><td width="14%" ></td><td width="10%" ></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Deferred tax assets</td></tr><tr><td width="54%" colspan="1" align="left" valign="middle" >Udskudte skatteforpligtelser</td><td width="15%" align="right" valign="middle" >1.496.847</td><td width="7%" align="right" valign="middle" >1.460.520</td><td width="14%" ></td><td width="10%" ></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Deferred tax liabilities</td></tr><tr><td colspan="5"></td></tr><tr><td width="54%" colspan="1" align="left" valign="middle" ><b>Udskudt skat 31. december</b></td><td width="15%" align="right" valign="middle" >1.496.847</td><td width="7%" align="right" valign="middle" >1.460.520</td><td width="14%" ></td><td width="10%" ></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" ><b>Deferred tax at 31 December</b></td></tr><tr><td colspan="5"></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" ><b>Langfristede gældforpligtigelser</b></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" ><b>Non-current liabilities</b></td></tr><tr><td colspan="5"></td></tr><tr><td width="54%" ></td><td width="15%" colspan="1" align="left" valign="middle" ><b>EUR/EUR</b></td><td width="7%" colspan="1" align="left" valign="middle" ><b>EUR/EUR</b></td><td width="14%" colspan="1" align="left" valign="middle" ><b>EUR/EUR</b></td><td width="10%" colspan="1" align="left" valign="middle" ><b>EUR/EUR</b></td></tr><tr><td width="54%" ></td><td width="15%" colspan="1" align="right" valign="middle" ><b>Gæld i alt 31/12 2022</b></td><td width="7%" colspan="1" align="right" valign="middle" ><b>Afdrag næste år</b></td><td width="14%" colspan="1" align="right" valign="middle" ><b>Langfristet andel</b></td><td width="10%" colspan="1" align="right" valign="middle" ><b>Restgæld efter 5 år</b></td></tr><tr><td width="54%" ></td><td width="15%" colspan="1" align="right" valign="middle" ><b>Total debt at 31/12 2022</b></td><td width="7%" colspan="1" align="right" valign="middle" ><b>Repayment, next year</b></td><td width="14%" colspan="1" align="right" valign="middle" ><b>Long-term portion</b></td><td width="10%" colspan="1" align="right" valign="middle" ><b>Outstanding debt after 5 years</b></td></tr><tr><td colspan="5"></td></tr><tr><td width="54%" colspan="1" align="left" valign="middle" >Gæld til banker</td><td width="15%" align="right" valign="middle" >7.195.032</td><td width="7%" align="right" valign="middle" >1.186.545</td><td width="14%" align="right" valign="middle" >6.008.487</td><td width="10%" align="right" valign="middle" >1.008.168</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Bank loans</td></tr><tr><td width="54%" colspan="1" align="left" valign="middle" >Anden gæld</td><td width="15%" align="right" valign="middle" >4.860.098</td><td width="7%" align="right" valign="middle" >0</td><td width="14%" align="right" valign="middle" >4.860.098</td><td width="10%" align="right" valign="middle" >0</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Other payables</td></tr><tr><td colspan="5"></td></tr><tr><td width="54%" ></td><td width="15%" align="right" valign="middle" >12.055.130</td><td width="7%" align="right" valign="middle" >1.186.545</td><td width="14%" align="right" valign="middle" >10.868.585</td><td width="10%" align="right" valign="middle" >1.008.168</td></tr><tr><td colspan="5"></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>Kontraktlige forpligtelser og eventualposter m.v.</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Contractual obligations and contingencies, etc.</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Eventualforpligtelser</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Contingent liabilities</b></td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Operationelle leasingforpligtelser</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Operating lease commitments</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Operationenelle leasingforpligtelser omfatter jordlejeforpligtelse med i alt 1.344 EURt i uopsigelige lejekontrakter med en resterende kontraktsperiode på op til 12 år.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Operating lease commitments include farmland rent obligation totaling EUR 1,344 thousand in interminable rent agreements with remaining contract terms of up to 12 years.</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 width="100%" colspan="1" align="left" valign="middle" ><b>Pantsætninger og sikkerhedsstillelser</b></td></tr><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" >Til sikkerhed for gæld til banker, 2.256 EURt, er der givet pant i grunde og bygninger, produktionsanlæg og maskiner samt landbrugsjord, hvis regnskabs­mæssige værdi pr. 31. december 2022 udgør 5.886 EURt.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Land and buildings, plant and machinery as well as farmland with a carrying amount of EUR 5,886 thousand at 31 December 2022 have been provided as collateral for bank loans, etc. of EUR 2,256 thousand.</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 width="100%" colspan="3" align="left" valign="middle" ><b>Nærtstående parter</b></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Related parties</b></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Betydelig indflydelse</b></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Significant influence</b></td></tr><tr><td colspan="3"></td></tr><tr><td width="70%" colspan="1" align="left" valign="middle" >Jantzen Group A/S</td><td width="19%" colspan="1" align="left" valign="middle" >Aarhus</td><td width="11%" colspan="1" align="left" valign="middle" >Kapitalbesiddelse</td></tr><tr><td width="70%" ></td><td width="19%" ></td><td width="11%" colspan="1" align="left" valign="middle" >Participating interest</td></tr><tr><td width="70%" colspan="1" align="left" valign="middle" >Rauff Group A/S</td><td width="19%" colspan="1" align="left" valign="middle" >Viborg</td><td width="11%" colspan="1" align="left" valign="middle" >Kapitalbesiddelse</td></tr><tr><td width="70%" ></td><td width="19%" ></td><td width="11%" colspan="1" align="left" valign="middle" >Participating interest</td></tr><tr><td width="70%" colspan="1" align="left" valign="middle" >AB Vadsholt Holding ApS</td><td width="19%" colspan="1" align="left" valign="middle" >Aalborg</td><td width="11%" colspan="1" align="left" valign="middle" >Kapitalbesiddelse</td></tr><tr><td width="70%" ></td><td width="19%" ></td><td width="11%" colspan="1" align="left" valign="middle" >Participating interest</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Selskabets transaktioner med nærtstående parter</b></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Transactions with related parties</b></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Koncernen oplyser kun om transaktioner med nærtstående parter, der ikke er gennemført på normale markedsvilkår, jf. lovens § 98 c, stk. 7.</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Alle transaktioner er gennemført på normale markedsvilkår.</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >The Group solely discloses related party transactions that have not been carried out on an arm's length basis, cf. section 98c(7) of the Danish Financial Statements Act.</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >All transactions have been carried out on an arm's length basis.</td></tr><tr><td colspan="3"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Reguleringer</b></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Adjustments</b></td></tr><tr><td width="70%" colspan="1" align="left" valign="middle" >Af- og nedskrivninger</td><td width="19%" align="left" valign="middle" >1.019.262</td><td width="11%" align="left" valign="middle" >997.552</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Amortisation/depreciation and impairment losses</td></tr><tr><td colspan="3"></td></tr><tr><td width="70%" colspan="1" align="left" valign="middle" >Finansielle indtægter</td><td width="19%" align="left" valign="middle" >-36.992</td><td width="11%" align="left" valign="middle" >-39.076</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Financial income</td></tr><tr><td width="70%" colspan="1" align="left" valign="middle" >Finansielle omkostninger</td><td width="19%" align="left" valign="middle" >422.468</td><td width="11%" align="left" valign="middle" >336.331</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Financial expenses</td></tr><tr><td width="70%" colspan="1" align="left" valign="middle" >Valutakursregulering</td><td width="19%" align="left" valign="middle" >-15.406</td><td width="11%" align="left" valign="middle" >-2.492</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Exchange rate adjustments</td></tr><tr><td width="70%" colspan="1" align="left" valign="middle" >Skat af årets resultat</td><td width="19%" align="left" valign="middle" >276.865</td><td width="11%" align="left" valign="middle" >356.828</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Tax for the year</td></tr><tr><td colspan="3"></td></tr><tr><td width="70%" ></td><td width="19%" align="left" valign="middle" >1.722.703</td><td width="11%" align="left" valign="middle" >1.858.838</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 width="100%" colspan="3" align="left" valign="middle" ><b>Ændring i driftskapital</b></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Changes in working capital</b></td></tr><tr><td width="70%" colspan="1" align="left" valign="middle" >Ændring i varebeholdninger</td><td width="19%" align="left" valign="middle" >-1.425.531</td><td width="11%" align="left" valign="middle" >40.493</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Changes in inventories</td></tr><tr><td colspan="3"></td></tr><tr><td width="70%" colspan="1" align="left" valign="middle" >Ændring i forudbetalinger, leverandørgæld og anden gæld</td><td width="19%" align="left" valign="middle" >585.233</td><td width="11%" align="left" valign="middle" >-19.401</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Changes in prepayments and trade and other payables</td></tr><tr><td colspan="3"></td></tr><tr><td width="70%" ></td><td width="19%" align="left" valign="middle" >99.824</td><td width="11%" align="left" valign="middle" >-1.695.517</td></tr></table> Årsrapport 30700228 EY Godkendt Revisionspartnerselskab Cortex Park Vest 3 5000 Odense xWizard version 1.1.1207.0, by EasyX Aps. www.easyx.eu 2021-01-01 2021-12-31 Revisionspåtegning Grundlag for konklusion Konklusion Erik Jantzen Niels Rauff Hansen Mogens Hansen Anders Bundgaard Erik Jantzen 3800847 1525849 997553 1277445 0 39076 336331 980190 356828 623362 2358 621004 1858838 -1695517 786683 39076 336331 302699 186729 0 2048666 1070087 2999850 2481454 -6459883 0 5243886 265153 0 0 5509039 -764115 1100579 325607 83290 16373 56 0 39076 355682 1146 0 83449 85968 0 -2519 606349 105632 269432 440030 0 440030 0 440030 0 191953 83214 2754 0 0 1 <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>Modervirksomheden har ikke i regnskabsåret udbetalt vederlag til ledelsen.</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>The Parent Company did not pay any remuneration to Management during the financial year.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="5" align="left" valign="middle" ><b>Af- og nedskrivninger af immaterielle og materielle anlægsaktiver</b></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" ><b>Impairment loss and depreciation on/amortisation of intangible assets and</b></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" ><b>property, plant and equipment</b></td></tr><tr><td colspan="5"></td></tr><tr><td width="54%" ></td><td width="15%" ></td><td width="7%" ></td><td width="14%" align="right" valign="middle" ><b>2022</b></td><td width="10%" align="right" valign="middle" ><b>2021</b></td></tr><tr><td width="54%" ></td><td width="15%" ></td><td width="7%" ></td><td width="14%" colspan="1" align="left" valign="middle" ><b>EUR/EUR</b></td><td width="10%" colspan="1" align="left" valign="middle" ><b>EUR/EUR</b></td></tr><tr><td width="76%" colspan="3" align="left" valign="middle" >.Jordkontrakter</td><td width="14%" align="left" valign="middle" >0</td><td width="10%" align="left" valign="middle" >0</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >.Land contracts</td></tr><tr><td width="76%" colspan="3" align="left" valign="middle" >.Grunde og bygninger</td><td width="14%" align="left" valign="middle" >0</td><td width="10%" align="left" valign="middle" >0</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >.Land and buildings</td></tr><tr><td width="76%" colspan="3" align="left" valign="middle" >.Produktionsanlæg og maskiner</td><td width="14%" align="left" valign="middle" >0</td><td width="10%" align="left" valign="middle" >0</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >.Plant and machinery</td></tr><tr><td colspan="5"></td></tr><tr><td width="54%" ></td><td width="15%" ></td><td width="7%" ></td><td width="14%" align="left" valign="middle" >0</td><td width="10%" align="left" valign="middle" >0</td></tr></table> 68640 36992 <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>Skat af årets resultat</td></tr></table> 0 0 0 <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>Immaterielle anlægsaktiver</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>Materielle anlægsaktiver</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>Finansielle anlægsaktiver</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="4" align="left" valign="middle" ><b>Nærtstående parter</b></td></tr><tr><td colspan="4"></td></tr><tr><td width="83%" colspan="3" align="left" valign="middle" ><b>Navn</b></td><td width="17%" colspan="1" align="left" valign="middle" ><b>Ejerandel</b></td></tr><tr><td colspan="4"></td></tr><tr><td width="100%" colspan="4" align="left" valign="middle" ><b>Subsidiaries</b></td></tr><tr><td width="59%" colspan="1" align="left" valign="middle" >Agro Center s.r.o.</td><td width="16%" colspan="1" align="left" valign="middle" >Kapitalselskab</td><td width="8%" colspan="1" align="left" valign="middle" >Slovakiet</td><td width="17%" align="left" valign="middle" >100,00%</td></tr><tr><td colspan="4"></td></tr><tr><td width="83%" colspan="3" align="left" valign="middle" >Agro Support s.r.o. *****</td><td width="17%" align="left" valign="middle" >100,00%</td></tr><tr><td colspan="4"></td></tr><tr><td width="83%" colspan="3" align="left" valign="middle" >AgriCola s.r.o.*</td><td width="17%" align="left" valign="middle" >100,00%</td></tr><tr><td colspan="4"></td></tr><tr><td width="83%" colspan="3" align="left" valign="middle" >Techagra s.r.o. *</td><td width="17%" align="left" valign="middle" >100,00%</td></tr><tr><td colspan="4"></td></tr><tr><td width="59%" ></td><td width="16%" colspan="1" align="left" valign="middle" >Limited liability company</td><td width="25%" colspan="2" align="left" valign="middle" >Slovakia</td></tr><tr><td width="59%" colspan="1" align="left" valign="middle" >*</td><td width="41%" colspan="3" align="left" valign="middle" >Selskabet er ejet 100 % af selskabet Agro Support s.r.o.</td></tr><tr><td width="59%" colspan="1" align="left" valign="middle" >**</td><td width="41%" colspan="3" align="left" valign="middle" >De indregnede beløb på AgroKorn s.r.o. vedrørende egenkapital og årets resultat omfatter investering i det slovakiske andelsselskab PD Kútniky. Som beskrevet i ledelsesberetningen, er der usikkerhed omkring indregning og måling af investeringen på grund af usikkerheden omkring juridiske aspekter af egenkapitalinstrumenter, som benævnes som DPL-lån, hvilket anses for at give ret til at modtage udbytte. Da AgroKorn s.r.o. fuldt ud kontrollerer PD Kútnikys fremtidige udbytteudlodninger, som følge af at selskabet besidder bestemmende indflydelse, og da DPL-lån handles til meget lave priser på det frie marked på grund af den generelle overbevisning om, at DPL-lån ingen dagsværdi har, så indgår DPL-lånene ikke i den beregnede ejerandel på 99,38 %.</td></tr><tr><td width="59%" colspan="1" align="left" valign="middle" >***</td><td width="41%" colspan="3" align="left" valign="middle" >Selskabet er ejet 99,38 % af selskabet AgroKorn s.r.o.</td></tr><tr><td width="59%" colspan="1" align="left" valign="middle" >****</td><td width="41%" colspan="3" align="left" valign="middle" >Selskabet er ejet 100 % af selskabet PD Kútniky.</td></tr><tr><td width="59%" colspan="1" align="left" valign="middle" >*****</td><td width="41%" colspan="3" align="left" valign="middle" >Selskaberne indregnes 100% i årsregnskabet, idet selskabet har en call-option på minioriteten med en fast lav udnyttelsespris og der udloddes ikke udbytter.</td></tr><tr><td width="59%" colspan="1" align="left" valign="middle" >*</td><td width="41%" colspan="3" align="left" valign="middle" >The company is wholly owned by the company Agro Support s.r.o.</td></tr><tr><td width="59%" colspan="1" align="left" valign="middle" >**</td><td width="41%" colspan="3" align="left" valign="middle" >The amounts recognized in AgroKorn s.r.o. regarding equity and profit for the year comprise the investment in the Slovakian co-operative PD Kútniky. As described in the Management's review, recognition and measurement of the investment is subject to uncertainty due uncertainty surrounding the legal aspects of equity instruments, called DPL loans, which are considered to constitute a right to receive dividend. As AgroKorn s.r.o. fully controls PD Kútniky's future dividend distributions as the company exercises control over the company and as DPL loans are traded in the open market at very low prices due to the general conviction that DPL loans have no fair value, the DPL loans are not included in the calculated equity interest of 99.38%.</td></tr><tr><td width="59%" colspan="1" align="left" valign="middle" >***</td><td width="41%" colspan="3" align="left" valign="middle" >The company is owned 99.38% by the company AgroKorn s.r.o.</td></tr><tr><td width="59%" colspan="1" align="left" valign="middle" >****</td><td width="41%" colspan="3" align="left" valign="middle" >The company is wholly owned by the company PD Kútniky.</td></tr><tr><td width="59%" colspan="1" align="left" valign="middle" >*****</td><td width="41%" colspan="3" align="left" valign="middle" >The companies are recognized 100% in the financial statement of Agri Consult ApS, as the company has a call option on the minority with a fixed low fee and no dividends are distributed.</td></tr><tr><td colspan="4"></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="2" align="left" valign="middle" ><b>Periodeafgrænsningsposter</b></td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" ><b>Prepayments</b></td></tr><tr><td colspan="2"></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>Selskabskapital</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Share capital</b></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 width="100%" colspan="5" align="left" valign="middle" ><b>Udskudt skat</b></td></tr><tr><td colspan="5"></td></tr><tr><td width="54%" ></td><td width="15%" ></td><td width="7%" ></td><td width="14%" align="right" valign="middle" ><b>2022</b></td><td width="10%" align="right" valign="middle" ><b>2021</b></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" ><b>Deferred tax</b></td></tr><tr><td width="76%" colspan="3" align="left" valign="middle" >Udskudt skat 1. januar</td><td width="14%" align="right" valign="middle" >0</td><td width="10%" align="right" valign="middle" >0</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Deferred tax at 1 January</td></tr><tr><td width="76%" colspan="3" align="left" valign="middle" >Udskudt skat for året, via resultatopgørelsen</td><td width="14%" align="right" valign="middle" >0</td><td width="10%" align="right" valign="middle" >0</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Deferred tax adjustment for the year, income statement</td></tr><tr><td width="76%" colspan="3" align="left" valign="middle" >Udskudt skat for året, via egenkapitalen</td><td width="14%" align="right" valign="middle" >0</td><td width="10%" align="right" valign="middle" >0</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Deferred tax adjustment for the year, through equity</td></tr><tr><td width="76%" colspan="3" align="left" valign="middle" >Andre reguleringer, herunder valutakursreguleringer</td><td width="14%" align="right" valign="middle" >0</td><td width="10%" align="right" valign="middle" >0</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Other adjustments, including foreign exchange adjustment</td></tr><tr><td colspan="5"></td></tr><tr><td width="76%" colspan="3" align="left" valign="middle" ><b>Udskudt skat 31. december</b></td><td width="14%" align="right" valign="middle" >0</td><td width="10%" align="right" valign="middle" >0</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" ><b>Deferred tax at 31 December</b></td></tr><tr><td colspan="5"></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" ><b>Udskudt skat indregnes således i balancen</b></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Analysis of the deferred tax</td></tr><tr><td width="76%" colspan="3" align="left" valign="middle" >Udskudte skatteaktiver</td><td width="14%" align="right" valign="middle" >0</td><td width="10%" align="right" valign="middle" >0</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Deferred tax assets</td></tr><tr><td width="76%" colspan="3" align="left" valign="middle" >Udskudte skatteforpligtelser</td><td width="14%" align="right" valign="middle" >0</td><td width="10%" align="right" valign="middle" >0</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Deferred tax liabilities</td></tr><tr><td colspan="5"></td></tr><tr><td width="76%" colspan="3" align="left" valign="middle" ><b>Udskudt skat 31. december</b></td><td width="14%" align="right" valign="middle" >0</td><td width="10%" align="right" valign="middle" >0</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" ><b>Deferred tax at 31 December</b></td></tr><tr><td colspan="5"></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" ><b>Langfristede gældforpligtigelser</b></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" ><b>Non-current liabilities</b></td></tr><tr><td colspan="5"></td></tr><tr><td width="54%" ></td><td width="15%" colspan="1" align="left" valign="middle" ><b>EUR/EUR</b></td><td width="7%" colspan="1" align="left" valign="middle" ><b>EUR/EUR</b></td><td width="14%" colspan="1" align="left" valign="middle" ><b>EUR/EUR</b></td><td width="10%" colspan="1" align="left" valign="middle" ><b>EUR/EUR</b></td></tr><tr><td width="54%" colspan="1" align="left" valign="middle" ><b>EUR/EUR</b></td><td width="15%" colspan="1" align="right" valign="middle" ><b>Gæld i alt 31/12 2022</b></td><td width="7%" colspan="1" align="right" valign="middle" ><b>Afdrag næste år</b></td><td width="14%" colspan="1" align="right" valign="middle" ><b>Langfristet andel</b></td><td width="10%" colspan="1" align="right" valign="middle" ><b>Restgæld efter 5 år</b></td></tr><tr><td width="54%" ></td><td width="15%" colspan="1" align="right" valign="middle" ><b>Total debt at 31/12 2022</b></td><td width="7%" colspan="1" align="right" valign="middle" ><b>Repayment, next year</b></td><td width="14%" colspan="1" align="right" valign="middle" ><b>Long-term portion</b></td><td width="10%" colspan="1" align="right" valign="middle" ><b>Outstanding debt after 5 years</b></td></tr><tr><td colspan="5"></td></tr><tr><td width="54%" colspan="1" align="left" valign="middle" >Gæld til banker</td><td width="15%" align="right" valign="middle" >1.449.423</td><td width="7%" align="right" valign="middle" >354.000</td><td width="14%" align="right" valign="middle" >1.095.423</td><td width="10%" align="right" valign="middle" >0</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Bank loans</td></tr><tr><td width="54%" colspan="1" align="left" valign="middle" >Anden gæld</td><td width="15%" align="right" valign="middle" >4.227.098</td><td width="7%" align="right" valign="middle" >0</td><td width="14%" align="right" valign="middle" >4.227.098</td><td width="10%" align="right" valign="middle" >0</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Other payables</td></tr><tr><td colspan="5"></td></tr><tr><td width="54%" ></td><td width="15%" align="right" valign="middle" >5.676.521</td><td width="7%" align="right" valign="middle" >354.000</td><td width="14%" align="right" valign="middle" >5.322.521</td><td width="10%" align="right" valign="middle" >0</td></tr><tr><td colspan="5"></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>Kontraktlige forpligtelser og eventualposter m.v.</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Contractual obligations and contingencies, etc.</b></td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Selskabet har afgivet selvskyldnerkaution for bankengagementer i et samhandelsselskab. Kautionsforpligtelsen er ubegrænset, men udgør 6.932 EURt pr. 31. december 2022.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The Company has provided a guarantee for payment of bank exposures in one trading company. The guarantee obligation is unlimited, but amounted to EUR 6,932 thousand as of 31 December 2022.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Operationelle leasingforpligtelser</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Operating lease commitments</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Operationenelle leasingforpligtelser omfatter jordlejeforpligtelse med i alt 1.344 EURt i uopsigelige lejekontrakter med en resterende kontraktsperiode på op til 12 år.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Operating lease commitments include farmland rent obligation totaling EUR 1,344 thousand in interminable rent agreements with remaining contract terms of up to 12 years.</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 width="100%" colspan="1" align="left" valign="middle" ><b>Pantsætninger og sikkerhedsstillelser</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Mortgages and collateral</b></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 width="100%" colspan="3" align="left" valign="middle" ><b>Nærtstående parter</b></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Related parties</b></td></tr><tr><td colspan="3"></td></tr><tr><td width="70%" colspan="1" align="left" valign="middle" ><b>Navn</b></td><td width="19%" colspan="1" align="left" valign="middle" ><b>Bopæl/Hjemsted</b></td><td width="11%" colspan="1" align="left" valign="middle" ><b>Grundlag for betydelig indflydelse</b></td></tr><tr><td width="70%" colspan="1" align="left" valign="middle" ><b>Name</b></td><td width="19%" colspan="1" align="left" valign="middle" ><b>Domicile</b></td><td width="11%" colspan="1" align="left" valign="middle" ><b>Basis for significant influence</b></td></tr><tr><td colspan="3"></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Jantzen Group A/S</td></tr><tr><td colspan="3"></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Rauff Group A/S</td></tr><tr><td colspan="3"></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >AB Vadsholt Holding ApS</td></tr><tr><td colspan="3"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Reguleringer</b></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Adjustments</b></td></tr><tr><td colspan="3"></td></tr><tr><td width="70%" colspan="1" align="left" valign="middle" >Gevinst/tab på salg af aktiver</td><td width="19%" align="left" valign="middle" >56.506</td><td width="11%" align="left" valign="middle" >209.695</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Gain/loss on the sale of assets</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Finansielle indtægter</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Financial income</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Finansielle omkostninger</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Financial expenses</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Valutakursregulering</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Exchange rate adjustments</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 width="100%" colspan="3" align="left" valign="middle" ><b>Ændring i driftskapital</b></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Changes in working capital</b></td></tr><tr><td colspan="3"></td></tr><tr><td width="70%" colspan="1" align="left" valign="middle" >Ændring i tilgodehavender</td><td width="19%" align="left" valign="middle" >940.122</td><td width="11%" align="left" valign="middle" >-1.716.609</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Changes in receivables</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Ændring i forudbetalinger, leverandørgæld og anden gæld</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Changes in prepayments and trade and other payables</td></tr><tr><td colspan="3"></td></tr></table> 36882 67495 0 -30613 759751 116670 208251 637557 16553 621004 0 621004 67495 0 0 0 1 77594 39076 0 16553 0 1904414 1904414 13057450 2571302 112942 15741694 0 0 2007793 2007793 19653901 3062128 350830 3412958 2652708 0 108111 350769 0 3111588 148071 6672617 26326518 6694 2167380 0 1467060 0 3641134 55378 1496847 1496847 6008487 4860098 1186545 5384640 2246648 19584 1427157 21133159 26326518 148071 841510 2007793 2179006 2179006 12183614 2736517 56204 14976335 0 0 2507793 2507793 19663134 1810706 176721 1987427 3439511 0 45231 504087 0 3988829 169764 6146020 25809154 6694 1974390 0 1028067 0 3009151 51299 1460955 1460955 6781270 4381082 1153658 5779588 1549728 103577 1538846 21287749 25809154 169764 0 0 0 0 0 0 10562499 1932027 1999687 14494213 14494213 0 0 0 13000 0 0 4294 0 17294 245 17539 14511752 6694 0 4020499 -386059 0 3641134 0 0 0 1095423 4227098 354000 5183285 10812 0 0 10870618 14511752 0 0 0 0 0 0 9764196 1707027 2499689 13970912 13970912 0 0 0 6402 0 0 83827 0 90229 1360 91589 14062501 6694 0 3202206 -199749 0 3009151 0 0 0 1803451 3748082 0 5489221 12596 0 0 11053350 14062501 6694 1974390 1028067 3009151 169764 566918 2507793 0 0 0 0 0 0 192990 440030 0 -1037 6694 2167380 1467060 6694 3222197 -219740 3009151 0 0 0 606349 0 191953 -166319 0 0 6694 4020499 -386059 933879 2745924 2745924 14038716 2499227 4354329 4923675 0 2187158 56204 0 0 1050437 140825 244290 280066 0 355895 351887 0 464604 -295381 77627 20889 0 0 0 14948328 2743517 4634395 13057450 4927683 0 2356381 2571302 112942 0 0 112942 6542000 3222196 1707027 0 2507793 0 0 0 606349 191954 600000 375000 0 0 0 508106 0 0 6542000 4020499 10562499 1932027 0 1932027 1999687 0 1999687 606349 759751 -166319 -138747 EY Godkendt Revisionspartnerselskab 30700228 Peter U. Faurschou State Authorised Public Accountant mne34502 Tobias Oppermann State Authorised Public Accountant mne46362 30700228 EY Godkendt Revisionspartnerselskab