32670075 2021-01-01 2021-12-31 32670075 2021-01-01 2021-12-31 1 32670075 2021-01-01 2021-12-31 1 32670075 2020-01-01 2020-12-31 32670075 2021-01-01 2021-12-31 fsa:RetainedEarningsMember 32670075 2020-01-01 2020-12-31 fsa:RetainedEarningsMember 32670075 2021-01-01 2021-12-31 fsa:ProposedDividendRecognisedInEquityMember 32670075 2020-01-01 2020-12-31 fsa:ProposedDividendRecognisedInEquityMember 32670075 2021-12-31 32670075 2020-12-31 32670075 2020-12-31 fsa:LeaseholdImprovementsMember 32670075 2019-12-31 fsa:LeaseholdImprovementsMember 32670075 2021-01-01 2021-12-31 fsa:LeaseholdImprovementsMember 32670075 2020-01-01 2020-12-31 fsa:LeaseholdImprovementsMember 32670075 2021-12-31 fsa:LeaseholdImprovementsMember 32670075 2020-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 32670075 2019-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 32670075 2021-01-01 2021-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 32670075 2020-01-01 2020-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 32670075 2021-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 32670075 2019-12-31 32670075 2020-12-31 fsa:ContributedCapitalMember 32670075 2019-12-31 fsa:ContributedCapitalMember 32670075 2021-01-01 2021-12-31 fsa:ContributedCapitalMember 32670075 2020-01-01 2020-12-31 fsa:ContributedCapitalMember 32670075 2021-12-31 fsa:ContributedCapitalMember 32670075 2020-12-31 fsa:RetainedEarningsMember 32670075 2019-12-31 fsa:RetainedEarningsMember 32670075 2021-01-01 2021-12-31 fsa:RetainedEarningsMember 32670075 2020-01-01 2020-12-31 fsa:RetainedEarningsMember 32670075 2021-12-31 fsa:RetainedEarningsMember 32670075 2020-12-31 fsa:ProposedDividendRecognisedInEquityMember 32670075 2019-12-31 fsa:ProposedDividendRecognisedInEquityMember 32670075 2021-01-01 2021-12-31 fsa:ProposedDividendRecognisedInEquityMember 32670075 2020-01-01 2020-12-31 fsa:ProposedDividendRecognisedInEquityMember 32670075 2021-12-31 fsa:ProposedDividendRecognisedInEquityMember xbrli:pure iso4217:DKK ParsePort ApS Roholmsvej 12A 2620 Albertslund Denmark +45 53530010 www.parseport.com info@parseport.com 32670075 2010-01-01 Albertslund, Denmark Kim Bjørnskov Eriksen Dronning Olgas Vej 43A 2000 Frederiksberg Denmark Handelsbanken Frederiksborgvej 25 3450 Lillerød Denmark 12 2022-01-30 Kim Bjørnskov Eriksen Kim Bjørnskov Eriksen CEO The Executiv<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e Board have t<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>oday <span xmlns="http://www.w3.org/1999/xhtml" class="ws3">c</span>onsider<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ed and approv<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ed the Annual <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/><span xmlns="http://www.w3.org/1999/xhtml" class="ws7">R<span class="ws0">eport for 2021 f<span class="_ _1"/>or <span class="wsd">P</span>arseP<span class="_ _1"/><span class="ws2">ort <span class="ws0">ApS. </span></span></span></span>The <span xmlns="http://www.w3.org/1999/xhtml" class="ws0">Annual <span class="ws6">R<span class="_ _1"/><span class="ws0">eport has been prepared in accor<span class="_ _1"/>danc<span class="wse">e </span>with the Danish Financial <span class="ws6">S</span>ta<span class="_ _1"/>temen<span class="ws2">ts </span>Act.</span></span></span>In our opinion the Financial <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/><span xmlns="http://www.w3.org/1999/xhtml" class="wsf">S<span class="ws0">tatements giv<span class="_ _1"/>e a true and fair vie<span class="_ _1"/>w <span class="wse">o</span>f <span class="_ _1"/>the Company’<span class="_ _0"/>s assets and liabilities, </span></span>financial position and r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>esults of <span xmlns="http://www.w3.org/1999/xhtml" class="ws8">oper</span>ations f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>or the financial <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>year <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ended December 31, 2021.In our opinion the Managemen<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>t’<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>s R<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>eview <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/><span xmlns="http://www.w3.org/1999/xhtml" class="wse">giv<span class="ws0">es a true and fair <span class="ws10">sta</span>temen<span class="_ _1"/>t regarding the content in the </span></span>Management<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>’<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>s Revie<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>w<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>.We recommend that the Annual <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/><span xmlns="http://www.w3.org/1999/xhtml" class="ws6">report be <span class="_ _3"/>approved at <span class="_ _3"/>the <span class="ws0">Annual <span class="_ _1"/><span class="ws7">General <span class="ws6">Meeting.</span></span></span></span> Albertslund 2022-01-30 W<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e dev<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>elop and sell digital<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> reporting solutions for<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> financial reporting in the <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>well-adap<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ted XBRL format used b<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>y authorities lik<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e the European Banking A<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>uthority (EBA), E<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>uropean Insurance and Occupational<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> Pensions Authority<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> (EIOP<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>A), European Securities and M<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>arkets <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>Authority (ESMA) and local<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> business authorities. Our solutions ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e being used by o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ther softwar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e suppliers, banks, insurance companies and pension funds as w<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ell as public and priva<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>te companies all<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> over<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> the world. 2021 w<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>as the year<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> wher<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e we added a lot o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>f extra r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>esources in our Customer<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> Success Management team, just as <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>we increased the headcounts in sales, HR, legal<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> and develop-ment to cope <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>with a heavy in<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>flow of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> customers. Ev<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>en with the effects o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>f CO<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>VID-19, w<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e managed to increase EB<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>T by<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> over<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> 41% while maintaining our al<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ways positiv<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e cashflow<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>. Previous business segmen<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ts wer<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e separated into individual<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> companies and w<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e wer<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e able to mov<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e separately<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> located sales people back into our main HQ facilities, emphasizing our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> 2021 “One ParsePort”<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> strategy<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>. This y<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ear <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>we prov<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ed that w<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e are the largest direct supplier<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> of ESEF<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> solutions in Europe – and while <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>we took the initial<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> steps for<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> the next reporting “wa<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ve”<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> for ESG <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>where the potential<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> customer<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> base is ten times that of ESEF<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>, 2022 will be the <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>year<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> where these st<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>eps will ma<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>teri-alize. No ev<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ents materially<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> affecting the financial<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> position of the c<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ompany hav<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e occurred after<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> the end of the financial<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> y<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ear<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>. To the Shareholders of <span xmlns="http://www.w3.org/1999/xhtml" class="ws16">ParsePort <span class="_ _1"/><span class="ws0">ApS</span></span> Opinion W<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e hav<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e audited the Financial <span xmlns="http://www.w3.org/1999/xhtml" class="ws6">S</span>ta<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>tements of ParseP<span xmlns="http://www.w3.org/1999/xhtml" class="ws2">ort </span>ApS f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>or the financial <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>year <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>January <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/><span xmlns="http://www.w3.org/1999/xhtml" class="ws9">1, <span class="_ _3"/></span>2021 – December 31, 2021, <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>which comprise the income statement, balance shee<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>t, notes and accounting policies. <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>The financial <span xmlns="http://www.w3.org/1999/xhtml" class="wsf">sta</span>temen<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ts are pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>epared in accordanc<span xmlns="http://www.w3.org/1999/xhtml" class="wse">e </span>with the Danish Financial <span xmlns="http://www.w3.org/1999/xhtml" class="ws6">S<span class="_ _1"/><span class="ws0">tatemen<span class="ws2">ts </span>Act.</span></span>In our opinion, the Financial <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/><span xmlns="http://www.w3.org/1999/xhtml" class="wsf">S<span class="ws0">tatements giv<span class="_ _1"/>e </span></span>a true and fair <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>view <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/><span xmlns="http://www.w3.org/1999/xhtml" class="wse">o<span class="ws0">f the financial <span class="_ _1"/>position of </span></span>the Company <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/><span xmlns="http://www.w3.org/1999/xhtml" class="ws3">a<span class="ws0">t December 31, 2021 and of <span class="_ _1"/><span class="ws8">the <span class="_ _3"/></span></span></span>results of <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>the operations for <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>the financial y<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ear January <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>1, 2021 – December 31, 2021 in accor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>-dance with the Danish Financial <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/><span xmlns="http://www.w3.org/1999/xhtml" class="ws6">Statements <span class="ws0">Act.</span></span> Basis for Opinion W<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e conducted our <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>audit in accordanc<span xmlns="http://www.w3.org/1999/xhtml" class="wse">e </span>with In-ternational <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/><span xmlns="http://www.w3.org/1999/xhtml" class="ws6">S<span class="ws0">tandards on <span class="_ _1"/>Auditing (ISAs) and the </span></span>additional <span xmlns="http://www.w3.org/1999/xhtml" class="ws6">r<span class="_ _1"/><span class="ws0">equirements applicable in Denmark. </span></span>Our <span xmlns="http://www.w3.org/1999/xhtml" class="wsd">r<span class="_ _1"/><span class="ws0">esponsibilities under those standards </span></span>and requir<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ements are further described in the “<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>Auditor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>’<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>s Responsibilities for <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/><span xmlns="http://www.w3.org/1999/xhtml" class="ws18">the <span class="ws0">Audit of <span class="_ _1"/><span class="ws8">the <span class="_ _3"/></span></span></span>Financial <span xmlns="http://www.w3.org/1999/xhtml" class="ws6">S<span class="_ _1"/><span class="ws0">tatements” section of <span class="_ _1"/><span class="ws8">our <span class="wsd">r<span class="ws19">eport. <span class="ws0">W<span class="_ _1"/>e </span></span></span></span></span></span>are independent of <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>the Company in ac<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>cordance with the International <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/><span xmlns="http://www.w3.org/1999/xhtml" class="ws6">E<span class="ws0">thics Standards Boar<span class="_ _1"/>d </span></span>for <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>Acc<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ountants<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>’ Code of <span xmlns="http://www.w3.org/1999/xhtml" class="ws8">E<span class="_ _1"/><span class="ws0">thics for <span class="wsd">Pr<span class="_ _1"/><span class="ws0">ofessional </span></span></span></span>Accountan<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ts (IESBA Code<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>) and the additional requir<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ements applicable in Denmark, and we hav<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e fulfilled our other e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>thical responsibilities in accordance <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>with these requiremen<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ts. W<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e be-liev<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e that the audit evidence w<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e have obtained is sufficient and appropriat<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e to provide a basis for<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> our opinion. Management is responsible f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>or the preparation of Financial<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> Statements tha<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>t give a true and fair view<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> in accordance <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>with the Danish Financial Statements <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>Act, and for<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> such internal<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> control<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> as Management determines is necessary<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> to enable the preparation of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> Financial S<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>tatements that are fr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ee from material<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> misstatement, whether due t<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>o fraud or error<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>.In preparing the Financial<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> Statements, Manage-ment is responsible f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>or assessing the Com-pany<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>’<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>s ability to con<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>tinue as a going concern, disclosing, as applicable, matters rela<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ted to going concern and using the going concern basis of ac<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>counting in preparing the Financial<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> Statements unless M<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>anagement either intends to liquidate the Compan<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>y or t<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>o cease opera-tions, or has no r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ealistic alternative but to do so<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>. Our objectiv<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>es are to obtain reasonable assur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ance about whether the Financial<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> Statements as a <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>whole are free from material<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> misstatement, <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>whether due to fraud or<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> error<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>, and to issue an auditor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>’<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>s report that includes our opinion. Reasonable assurance is a high le<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>vel o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>f assurance, but is not a guarantee that an audit c<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>onducted in accordance with ISAs and the additional<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> requirements applicable in Denmark will<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> alwa<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ys detect a material<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> misstatement when it exists. Misstat<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ements can arise from fraud or err<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>or and are consider<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ed material if<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>, individually<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> or in the ag-gregate, the<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>y could r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>easonably be e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>xpected to influence the economic decisions of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> users taken on the basis of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> these Financial S<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>tatements.As part of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> an audit conducted in accordance <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>with ISAs and the additional r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>equirements applicable in Denmark, we e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>xercise pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ofessional judgemen<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>t and maintain profes-sional sc<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>epticism throughout the audit. <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>W<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e also:• <span xmlns="http://www.w3.org/1999/xhtml" class="_ _e"> </span><span xmlns="http://www.w3.org/1999/xhtml" class="ff3">Identify<span class="_ _1"/> and assess the risks of material<span class="_ _1"/> misstatement</span>of the Financial<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> Statements, <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>whether due t<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>o fraud or er<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>-ror<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>, design and perform audit proc<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>edures responsive t<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>othose risks, and obtain audit evidence tha<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>t is sufficientand appropriate t<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>o provide a basis for<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> our opinion. <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>The risk of no<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>t detecting a material<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> misstatement resulting from fraud is higher<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> than for one r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>esulting from error<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> as fraud may<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> involv<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e collusion, forgery<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>, intentional<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> omis-sions, misrepr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>esentations, or the ov<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>erride of internal<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> control.• <span xmlns="http://www.w3.org/1999/xhtml" class="_ _e"> </span><span xmlns="http://www.w3.org/1999/xhtml" class="ff3">Obtain an understanding of<span class="_ _1"/> internal con<span class="_ _1"/>trol r<span class="_ _1"/>elevant</span>to the audit in order<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> to design audit procedur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>es thatare appr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>opriate in the circumstances, but not for<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> thepurpose of e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>xpressing an opinion on the effectiv<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>enessof the Compan<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>y’<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>s internal<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> control.• <span xmlns="http://www.w3.org/1999/xhtml" class="_ _e"> </span><span xmlns="http://www.w3.org/1999/xhtml" class="ff3">Ev<span class="_ _1"/>aluate the appropriateness of<span class="_ _1"/> accounting policies</span>used and the reasonableness of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> accounting estimatesand related disclosur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>es made by M<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>anagement.• <span xmlns="http://www.w3.org/1999/xhtml" class="_ _e"> </span><span xmlns="http://www.w3.org/1999/xhtml" class="ff3">Conclude on the appropriateness o<span class="_ _1"/>f Management<span class="_ _1"/>’<span class="_ _1"/>s use</span>of the going c<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>oncern basis of accounting in pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>eparingthe Financial S<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>tatements and, based on the audit evi-dence obtained, <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>whether a material<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> uncertainty e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>xistsrelated t<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>o events or<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> conditions that may cast significan<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>tdoubt on the Company<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>’<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>s ability to c<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ontinue as a goingconcern. If<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> we conclude tha<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>t a material uncertainty<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> exists, <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>we are r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>equired to draw<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> attention in our audi-tor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>’<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>s report to the relat<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ed disclosures in the Financial Statements or<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>, if such disclosur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>es are inadequate, tomodify our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> opinion. Our conclusions ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e based on the audit evidence obtained up t<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>o the date of our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> auditor’<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>s report. Ho<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>wev<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>er<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>, future e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>vents or conditions ma<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>y cause the Company<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> to cease to continue as a going concern.• <span xmlns="http://www.w3.org/1999/xhtml" class="_ _e"> </span><span xmlns="http://www.w3.org/1999/xhtml" class="ff3">Ev<span class="_ _1"/>aluate the overall<span class="_ _1"/> presentation, structur<span class="_ _1"/>e and con-</span>tents of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> the Financial Stat<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ements, including the disclo-sures, and <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>whether the Financial<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> Statements repr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>esentthe underlying transactions and e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>vents in a manner that gives a true and fair<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> view<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>.• <span xmlns="http://www.w3.org/1999/xhtml" class="_ _e"> </span><span xmlns="http://www.w3.org/1999/xhtml" class="ff3">Obtain sufficient appropria<span class="_ _1"/>te audit evidence regar<span class="_ _1"/>ding</span>the financial in<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>formation of the en<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>tities or businessactivities within the Compan<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>y to e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>xpress an opinionon the Financial S<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>tatements. <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>W<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e are responsible for<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> the direction, supervision and perf<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ormance of thegroup audit. <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>W<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e remain solely<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> responsible for<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> our auditopinion.W<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e communicate <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>with those charged <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>with governance regarding, among o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ther matters, the planned scope and timing of the audit and significan<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>t audit findings, includ-ing any<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> significant deficiencies in internal<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> control tha<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>t we identify<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> during our audit. Management is responsible f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>or Management<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>’<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>s Review<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>.Our opinion on the Financial<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> Statements does not cov<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>er Management<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>’<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>s Re<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>view<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>, and <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>we do not expr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ess any f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>orm of assurance conclusion thereon.In connection <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>with our audit of the Financial<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> Statements, our<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> responsibility<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> is to read Man-agement<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>’<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>s Revie<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>w and, in doing so, c<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>onsider whether M<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>anagement’<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>s Review<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> is materially<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> inconsistent <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>with the Financial Stat<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ements or our kno<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>wledge obtained during the audit, or otherwise appears to be materiall<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>y misstated.Moreo<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ver<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>, it is our responsibility<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> to consider whether M<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>anagement’<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>s Review<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> provides the information r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>equired under the Danish Financial<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> Statements <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>Act.Based on the w<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ork w<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e have performed, <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>we conclude that Management<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>’<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>s Re<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>view is in ac-cordance <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>with the Financial Sta<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>tements and has been prepar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ed in accordance with the r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>equire-ments of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> the Danish Financial Stat<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ement Acts. W<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e did not identify<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> any mat<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>erial misstatement of M<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>anagement’<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>s Review<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>. Frederiksberg 2022-01-30 ADDCO P/S Godkendte Revisorer 36464852 Kaspar Kristoffersen Chartered accountant mne34513 The Annual<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> Report has been pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>epared in accordance <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>with the provisions o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>f the Danish Fi-nancial S<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>tatements A<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ct applying to enterprises of r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>eporting class B with election fr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>om reporting class C. The company<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> has chosen to change the accounting policy<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> for capitaliza<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>tion of property<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>, plant and equipment.The change is included in the comparative figures f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>or 2020.The accumulated eff<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ect of the change abov<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e results in an incr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ease of the result f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>or the y<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ear of 442 tDKK. <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>The total<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> balance is increased by<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> 560 tDKK <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>while the equity at end of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> 2021 is in-creased b<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>y 442 tDKK. Deferr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ed tax is increased by<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> 125 tDKK.Apart from the abo<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ve, the accounting policies applied are unchanged fr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>om last year<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>. Income is recogniz<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ed in the income statement when they<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> are earned. Furthermor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e are all<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> costs, depreciations and <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>write downs r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ecog-nized in the income statemen<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>t when incurred.Assets are r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ecognized in the balance sheet when it is probable that futur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e economical ben-efits <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>will accrue to the compan<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>y and the assets value can be measured r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>eliably<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>.Liabilities are r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ecognized in the balance sheet when it is probable that futur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e economical ben-efits <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>will be deducted from the c<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ompany and the v<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>alue can be measured reliably<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>.On initial<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> recognition assets and liabilities are measured to cost pric<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e. Thereaft<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>er assets and liabilities are measur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ed as described for each entry<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>.Anticipated risks and losses that arise bef<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ore the time of pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>esentation of the annual<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> report and that confirm or<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> invalidate affairs and con-ditions existing at the balance shee<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>t date are considered at r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ecognition and measurement. T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ransactions denominated in foreign curr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ency are translated in<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>to the functional currenc<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>y at the ex<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>change rates ruling at the date of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> the transaction. Exchange diff<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>erences arising be-tween the transaction dat<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e and the exchange rate at the dat<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e of actual<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> payment are recog-nized in the income statemen<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>t under financial income or financial<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> expenses.Receiv<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ables, payables and other<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> monetary items denominated in f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>oreign currencies are translated into the functional<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> currency<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> at the ex<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>change rates ruling at the balance sheet date. <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>The difference betw<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>een the exchange rates ruling at the balance sheet da<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>te and at the date <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>when the receivable or<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> payable arose is recogniz<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ed in the income statement under financial inc<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ome or financial e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>xpenses.Non-current asse<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ts acquired in foreign curr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ency are measur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ed to the exchange rat<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e ruling at the date of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> the transaction. In accordance <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>with the ex<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>emption in the section 112 of the D<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>anish Financial Statemen<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ts Act no consolidated financial<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> statements hav<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e been prepar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ed. With ref<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>erence to section 32 of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> the Danish Financial S<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>tatement A<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ct, the items “Rev<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>enue” to and including “Other<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> external e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>xpenses” ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e consolidated int<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>o one item designated “Gross profit”<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>. Rev<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>enue includes invoiced sales of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> goods and rendering of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> services, recognition is done, when delivery<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> and transfer o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>f risk to the buyer<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> has taken plac<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e before <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>year end. R<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>evenue is recogniz<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ed excluding <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>value added tax and after<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> deduction of pro<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>visions rebates and trade discounts relating t<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>o the sale. Cost of sales include c<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>osts incurred to achiev<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e rev<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>enue for the <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>year<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>. Cost of sales include freight and f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>orwarding costs. Other e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>xternal e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>xpenses include expenses related t<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>o distribution, sale, advertising, admin-istration, bad debt, premises, oper<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ating lease agreements et<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>c. Staff<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> costs comprise costs such as w<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ages and salaries, pension costs and other<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> social security<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> benefits ect. to the company<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>’<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>s employ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ees. Receiv<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ed dividends in the financial <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>year fr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>om group enterprises ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e recognized in the income statement. Financial inc<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ome and expenses are rec<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ognized in the income statement <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>with the amounts re-lated to the <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>year<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>. Financial income and e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>xpens-es comprise inter<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>est receivable and pay<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>able, realised and unr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ealised capital gains on securi-ties and currency<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> translation adjustments. T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ax on income for<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> the year<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>, consisting of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> the year<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>’<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>s current tax and def<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>erred tax, is recog-nized in the income statemen<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>t to the extent that it relates t<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>o the income or loss for<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> the y<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ear and on equity t<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>o the extent that it rela<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>tes there to.The company<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> is subject to the Danish legis-lation concerning compulsory<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> joint taxation with the Danish group ent<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>erprises. The current Danish corporate tax is allocat<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ed among the jointly<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> taxed companies in pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>oportion to their respectiv<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e taxable income (full allocation <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>with reimbursement of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> tax losses). Property<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>, plant, fixtures, fittings, tools and equipment are measur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ed at historic cost less accumulated depr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>eciation and impairment losses.Historic cost comprise the pur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>chase price and any<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> costs directly<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> attributable to the acquisition until<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> the date when the asset is a<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>vailable for use.Assets are depr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>eciated on a straight-line basis ov<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>er the expected use<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ful economic lives o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>f the assets:Useful<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> life<span xmlns="http://www.w3.org/1999/xhtml" class="_ _f"> </span>Scrap v<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>alueLeasehold impro<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ve-ments<span xmlns="http://www.w3.org/1999/xhtml" class="_ _10"> </span>10 y<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ears<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"> </span>0%Fixtures, fittings, tools and equipment<span xmlns="http://www.w3.org/1999/xhtml" class="_ _12"> </span>2-5 y<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ears<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"> </span>0%Acquisitions of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> minor assets <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>with a useful lif<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e of ov<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>er 2 y<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ears are capitalized.Gains and losses on disposals are determined as the differ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ence between selling price less sales cost and carrying amount at time of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> disposal and ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e recognized in the income statement. Gain or<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> loss is recognized under<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> other oper<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ating income or expenses. Investmen<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ts in group enterprises are r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ecog-nized at historic cost less ac<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>cumulated impair-ment losses. If<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> the historic cost exc<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>eeds the reco<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>verable amount the inv<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>estment is written down to this lo<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>wer <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>value. Receiv<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ables are measured at amortized cost which corresponds in all<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> material<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> respects to nominal <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>value. <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>The value is r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>educed with pro<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>vi-sions for<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> expected bad debts. Deferr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ed income, recognized under<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> liabilities, comprise income concerning subsequent financial <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>years. Cash comprises cash balances and bank bal-ances. Dividends expected t<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>o be paid in respect of the year<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> are stated as a separate line it<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>em under equity<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>. Current tax liabilities and curr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ent tax assets are recogniz<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ed in the balance sheet as estimated tax on the taxable income for<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> the y<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ear<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>, adjusted for<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> change in tax on prior y<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ears<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>’ taxable income and for<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> tax paid under the on-account tax scheme.Deferr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ed tax is measured according to the balance sheet liability<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> method on all timing dif<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>-fer<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ences between the tax and accounting <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>value of asse<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ts and liabilities.Deferr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ed tax assets, including the tax value o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>f tax loss carry f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>orwards, are r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ecognised at the expected <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>value of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> their utilisation <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>within the for<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>eseeable future; either as a set-off<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> against tax on future income or<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> as a set-off against de-ferr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ed tax liabilities in the same legal tax entity<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>. Any<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> deferred net assets ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e measured at net realisable <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>value.Deferr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ed income tax is measured using tax rules and tax rates that appl<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>y by<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> the balance sheet date <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>when the deferred tax asset is realised or<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> the deferred income tax liability<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> is settled. <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>The change in deferred tax as a result of changes in tax r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ates is recognized in the income statement. Borro<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>wings are recognized at the time the loans are obtained and ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e initially measur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ed at the proceeds r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>eceived less transaction costs. In the subsequent periods, financial<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> liabilities are measur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ed at amortized cost, applying the ‘eff<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ective interest ra<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>te method’<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>, to the effect that the differ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ence between the proceeds and the nominal <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>value is recogniz<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ed in the income statement under<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> financial expenses o<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ver the term of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> the loan.Other liabilities ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e measured at amortized cost, corresponding to the nominal<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> v<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>alue. Prepa<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>yments and accrued income recognized as liabilities, comprise payments r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>eceived relat-ing to income in subsequent financial<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> y<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ears. 28097026 17585125 12219308 5892164 283571 104918 15594147 11588043 93597 226473 486 90405 15461271 11498124 3418066 2567092 12043205 8931032 43205 931032 12000000 8000000 12043205 8931032 322351 25548 1191637 606423 1513988 631971 92996 95452 92996 95452 1606984 727423 13858524 8708192 470934 415919 6973119 8140592 376768 971599 21679345 18236302 9165685 4891525 30845030 23127827 32452014 23855250 125000 125000 7310318 7267113 12000000 8000000 19435318 15392113 100897 117284 100897 117284 2655057 2623446 3434453 2442299 37189 44495 6789100 3235613 12915799 8345853 12915799 8345853 32452014 23855250 3352740 2442299 81713 0 -16387 124793 3418066 2567092 29625 8409 311180 21216 0 0 340805 29625 4077 1822 14377 2255 18454 4077 322351 25548 790683 148989 854408 641694 0 0 1645091 790683 184260 81597 269194 102663 453454 184260 1191637 606423 11350677 5275859 274263 312179 402914 221319 191454 82807 12219308 5892164 28 17 14377 2255 269194 102663 283571 104918 With ref<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>erence to section 32 of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> the Danish Financial Statement <span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>Act, the items “R<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>evenue”<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> to and including “Other e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>xternal e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>xpenses” are consolidat<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ed into one item designated “Gross pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ofit”<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>. There ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e DKK 626,864 in contingent liabilities.The company<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> is a management company<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>/sub-sidiary in join<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>t taxation with Progr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>essisio ApS. The companies in the joint taxation ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>e jointly liable on corporation tax<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>es and taxes on divi-dends, interest and r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>oyalties. 117284 -7509 -16387 124793 100897 117284 125000 125000 0 0 125000 125000 7267113 6336081 43205 931032 7310318 7267113 8000000 4000000 8000000 4000000 12000000 8000000 12000000 8000000 19435318 15392113 The share capital<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> consists 125 shares of<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> DKK 1 thousand or multiples ther<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>eof. No shar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>es carry special<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> rights.The share capital<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/> has not been changed during the past 5 y<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1"/>ears. Annual report Auditor's report on audited financial statements ParsePort XBRL Converter 2021-01-01 2021-12-31 2020-01-01 2020-12-31 Reporting class B true false false false 32670075 ParsePort ApS Roholmsvej 12A 2620 Albertslund