40101268 2022-01-01 2022-12-31 40101268 2022-01-01 2022-12-31 auditor_1 40101268 2022-01-01 2022-12-31 memberOfBoardIdentifier_1 40101268 2022-01-01 2022-12-31 memberOfBoardIdentifier_2 40101268 2021-01-01 2021-12-31 40101268 2022-01-01 2022-12-31 fsa:ReserveForNetRevaluationAccordingToEquityMethodMember 40101268 2021-01-01 2021-12-31 fsa:ReserveForNetRevaluationAccordingToEquityMethodMember 40101268 2022-01-01 2022-12-31 fsa:ProposedDividendRecognisedInEquityMember 40101268 2021-01-01 2021-12-31 fsa:ProposedDividendRecognisedInEquityMember 40101268 2022-01-01 2022-12-31 fsa:RetainedEarningsMember 40101268 2021-01-01 2021-12-31 fsa:RetainedEarningsMember 40101268 2022-12-31 40101268 2021-12-31 40101268 2021-12-31 fsa:ContributedCapitalMember 40101268 2021-12-31 fsa:ReserveForNetRevaluationAccordingToEquityMethodMember 40101268 2021-12-31 fsa:RetainedEarningsMember 40101268 2021-12-31 fsa:ProposedDividendRecognisedInEquityMember 40101268 2022-01-01 2022-12-31 fsa:ProposedDividendRecognisedInEquityMember 40101268 2022-01-01 2022-12-31 fsa:ContributedCapitalMember 40101268 2022-01-01 2022-12-31 fsa:ReserveForNetRevaluationAccordingToEquityMethodMember 40101268 2022-01-01 2022-12-31 fsa:RetainedEarningsMember 40101268 2022-12-31 fsa:ContributedCapitalMember 40101268 2022-12-31 fsa:ReserveForNetRevaluationAccordingToEquityMethodMember 40101268 2022-12-31 fsa:RetainedEarningsMember 40101268 2022-12-31 fsa:ProposedDividendRecognisedInEquityMember 40101268 2021-12-31 fsa:InvestmentsInGroupEnterprisesMember 40101268 2022-12-31 fsa:InvestmentsInGroupEnterprisesMember 40101268 2022-01-01 2022-12-31 fsa:InvestmentsInGroupEnterprisesMember iso4217:DKK pure Årsrapport 2022-01-01 2021-01-01 2022-12-31 2021-12-31 2023-07-06 40101268 2023-07-06 2018-12-18 Reporting class B KPMG 7000 Fredericia Vesterballevej 27, 2. 25578198 Auditor's report on audited financial statements Fredericia 2023-07-06 KPMG 25578198 true Lars Bunch The Executive Board has today discussed and approved the annual report for Ammega Holding Denmark ApS for the financial year 1 January - 31 December 2022. The annual report has been prepared in accordance with the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the Company's assets, liabilities and financial position at 31 December 2022 and of the results of the Company's operations for the financial year 1 January - 31 December 2022.Further, in our opinion, the Management's review gives a fair review of the matters discussed in the Management's review. We recommend that the annual report be approved at the annual general meeting. Alex Peter Ludvigsen Managing Director Søren Klitvang Executive Officer Independent auditor's report To the Shareholder of Ammega Holding Denmark ApS Opinion We have audited the financial statements of Ammega Holding Denmark ApS for the financial year 1 January - 31 December 2022, comprising income statement, balance sheet, statement of changes in equity and notes, including accounting policies. The financial statements are prepared in accordance with the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the Company's assets, liabilities and financial position at 31 December 2022 and of the results of the Company's operations for the financial year 1 January - 31 December 2022 in accordance with the Danish Financial Statements Act. Basis for Opinion We conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the "Auditor's responsibilities for the audit of the financial statements" section of our report.We are independent of the Company in accordance with the International Ethics Standards Board for Accountants' International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Management's responsibility for the financial statementsManagement is responsible for the preparation of financial statements that give a true and fair view in accordance with the Danish Financial Statements Act and for such internal control that Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, Management is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting in preparing the financial statements unless Management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statementsOur 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 the additional requirements in Denmark will always detect a material misstatement when it exists. Misstatements may 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 financial statement users made on the basis of these financial statements.As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgement and maintain professional scepticism throughout the audit. We alsoidentify and assess the risks of material misstatement of the company financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error as fraud may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal control.obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control.evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management.conclude on the appropriateness of Management's use of the going concern basis of accounting in preparing the financial statements and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.evaluate the overall presentation, structure and contents of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that gives a true and fair view.We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Statement on the Management's reviewManagement is responsible for the Management's review.Our opinion on the financial statements does not cover the Management's review, and we do not express any form of assurance conclusion thereon.In connection with our audit of the financial statements, our responsibility is to read 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.Moreover, it is our responsibility to consider whether the Management's review provides the information required under the Danish Financial Statements Act. Based on the work we have performed, we conclude that the Management's review is in accordance with the financial statements and has been prepared in accordance with the requirements of the Danish Financial Statement Act. We did not identify any material misstatement of the Management's review. Michael Lund Siegumfeldt mne28662 Ammega Holding Denmark ApS Hjulmagervej 21 DK-7100 Vejle Vejle Principal activities The Company's principal activity is to serve as holding company and hold shares in Ammeraal Beltech Danmark A/S. Events after the balance sheet date No events have occurred after the balance sheet date of material importance to the annual report for 2022. Development in activities and financial position The Company's income statement for 2022 shows a profit of DKK 29,408 thousands as against a profit of DKK 93,676 thousands in 2021. Equity in the Company's balance sheet at 31 December 2022 stood at DKK 141,952 thousands as against DKK 262,543 thousands at 31 December 2021. -43000 559000 44174000 110353000 56000 146000 19362000 21507000 24825000 89551000 -4583000 -4125000 29408000 93676000 44174000 110353000 0 150000000 -14766000 -166677000 415407000 546233000 415407000 546233000 33340000 37673000 29750000 21863000 63090000 59536000 63090000 59536000 478497000 605769000 50000 50000 88155000 43982000 53747000 68511000 0 150000000 141952000 262543000 38000 38000 336507000 343188000 336545000 343226000 478497000 605769000 50000 43981000 68513000 150000000 -150000000 0 44174000 -14766000 0 50000 88155000 53747000 0 The annual report of Ammega Holding Denmark ApS for 2022 has been prepared in accordance with the provisions applying to reporting class B entities under the Danish Financial Statements Act with opt-in from higher reporting classes.The accounting policies used in the preparation of the financial statements are consistent with those of last year. Omission of consolidated financial statementsPursuant to section 112(1) of the Danish Financial Statements Act, no consolidated financial statements have been prepared. The financial statements of Ammega Holding Denmark ApS and group entities are included in the consolidated financial statements of Ammega Group BV. Marconistraat 15, Heerhugowaard, 1704RH, the Netherlands and Alpha ABMD Holdco BV, Marconistraat 15, Heerhugowaard, 1704RH, the Netherlands. Foreign currency translation 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 the date of payment are recognised in the income statement as financial income or financial expenses. 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 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. Upon recognition of foreign group entities and associates that are independent entities, the income statements are translated into Danish kroner at average exchange rates for the month, and balance sheet items are translated at the exchange rates at the balance sheet date. Foreign exchange differences arising upon translation of foreign group entities' opening equity and results at the exchange rates at the balance sheet date are recognized directly in equity. Foreign exchange adjustments of balances with independent foreign group entities considered part of the total investment in the group entity are recognized directly in equity. Similarly, foreign exchange gains and losses on loans and derivative financial instruments taken out for the purpose of hedging investments in foreign group entities are recognized directly in equity. Upon recognition of foreign group entities that are integrated entities, monetary items are translated at the exchange rates at the balance sheet date. Non-monetary items are translated at the exchange rates at the date of acquisition or the date of subsequent revaluations of the asset. Income statement items are translated at the exchange rates at the transaction date, whereas items derived from non-monetary items are translated at historical exchange rates for the non-monetary item. Other external costs Other external costs comprise costs for distribution and sales costs, costs for advertising, administrative expenses, costs of premises, operating leases, etc. Financial income and expenses Financial income and expenses comprise interest income and expense, financial costs regarding finance leases, gains and losses on securities, payables and transactions denominated in foreign currencies, amortisation of financial assets and liabilities as well as surcharges and refunds under the on-account tax scheme, etc. Tax on profit for the year The Parent Company is subject to the Danish rules on compulsory joint taxation of the Group's Danish subsidiaries. The subsidiaries are included in the joint taxation from the date when they are included in the consolidated financial statements and up to the date when they are excluded from the consolidation.The Parent Company is the administrative company for the joint taxation and accordingly settles all payments of corporation tax to the tax authorities.On payment of joint taxation contributions, current Danish corporation tax is allocated between the jointly taxed entities in proportion to their taxable income. Entities with tax losses receive joint taxation contributions from entities that have used the losses to reduce their own taxable profit.Tax for the year comprises current corporation tax for the year and changes in deferred tax, including changes in tax rates. 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. Investments Equity investments in group entities are measured at the proportionate share of the entities' net asset value calculated in accordance with the Parent Company's accounting policies plus or minus unrealised intra-group gains or losses and plus or minus the residual value of positive and negative goodwill calculated in accordance with the acquisition method. Equity investments in group entities with negative net asset values are measured at DKK 0, and any receivables from these entities are written down by an amount equivalent to the negative net asset value. To the extent that the negative net asset value exceeds the receivable, the residual amount is recognised as provisions. Net revaluation of equity investments in group entities is tied as a net revaluation reserve under equity according to the equity method to the extent that the carrying amount exceeds cost. Dividends from group entities expected to be adopted in the group entities prior to the approval of the Company's annual report, are not tied up in the revaluation reserve. Impairment of fixed assets The carrying amount of equity investments in group entities is subject to an annual test for indications of impairment other than the decrease in value reflected by depreciation or amortisation. 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. 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 forecast net cash flows from the use of the asset or the group of assets, including forecast net cash flows from the disposal of the asset or the group of assets after the end of the useful life. Receivables Receivables are measured at amortised cost. Write-down is made for bad debt losses where there is an objective indication that a receivable has been impaired. If there is an objective indication that an individual receivable has been impaired, write-down is made on an individual basis. Receivables with no objective indication of individual impairment are assessed for objective indication of impairment on a portfolio basis. The portfolios are primarily based on the debtors' registered offices and credit rating in accordance with the Company's credit risk management policy. The objective indicators used in relation to portfolios are determined on the basis of historical loss experience. Write-downs are calculated as the difference between the carrying amount of receivables and the present value of forecast cash flows, including the realisable value of any collateral received. The effective interest rate for the individual receivable or portfolio is used as discount rate. EquityDividends The expected dividend payment for the year is disclosed as a separate item under equity. Corporation tax and deferred tax Current tax payable and receivable is recognised in the balance sheet as tax computed on the taxable income for the year, adjusted for tax on the taxable income of prior years and for tax paid on account. 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 measured on the planned use of the asset or settlement of the liability, respectively. However, deferred tax is not recognised on temporary differences relating to office buildings non-deductible for tax purposes and other items where temporary differences arise at the date of acquisition without affecting either profit/loss or taxable income. Deferred tax assets, including the tax value of tax loss carryforwards, are recognised at the expected value of their utilisation within the foreseeable future; 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. Any deferred net assets are measured at net realisable value. Deferred tax is measured in accordance with 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. Changes in deferred tax as a result of changes in tax rates are recognised in the income statement or equity, respectively. Liabilities Financial liabilities are recognised at the date of borrowing at cost, corresponding to the proceeds received less transaction costs paid. In subsequent periods, the financial liabilities are measured at amortised cost, corresponding to the capitalised value using the effective interest rate. Accordingly, the difference between cost and the nominal value is recognised in the income statement over the term of the loan together with interest expenses. Other liabilities are measured at net realisable value. 0 0 19319000 19652000 43000 1678000 0 10000 0 167000 Current tax for the year4,2574,494Adjustment of tax concerning previous years326-3694,583 4,125 327252000 327252000 218981000 57166000 -175000000 -12992000 88155000 415407000 Receivables from group entities comprise DKK 27,767 regarding cash pool (2021: DKK 31,919 thousand). Contingent liabilities As management company, the Company is jointly taxed with other Danish group entities and is jointly and severally liable with other jointly taxed group entities for the payment of income taxes aswell as for witholding taxes on interest, royalties and dividends falling due for payment. Any subsequent corrections of the taxable income subject to joint taxation or withholding taxes on dividends, etc., may entail an increase in the entities' liability. The Group as a whole is not liable to any other parties. Ammega Holding Denmark ApS' related parties comprise the following:Ammeraal Beltech International Beheer B.V., Comeniusstraat 8 1817 MS Alkmaar, the Netherlands. Ammeraal Beltech International Beheer B.V. holds the majority of the contributed capital in the Company.ControlAmmega Holding Denmark ApS is part of the consolidated financial statements of Ammega Group BV, Marconistraat 15, Heerhugowaard, 1704RH, the Netherlands, which is the smallest group in which the Company is included as a subsidiary. The consolidated financial statements can be obtained by contacting the companies at the adresses above.