38863398 2025-01-01 2025-12-31 38863398 2025-01-01 2025-12-31 1 38863398 2025-01-01 2025-12-31 1 38863398 2025-01-01 2025-12-31 2 38863398 2025-01-01 2025-12-31 3 38863398 2025-01-01 2025-12-31 4 38863398 2025-01-01 2025-12-31 5 38863398 2025-01-01 2025-12-31 1 38863398 2023-01-01 2023-12-31 38863398 2022-01-01 2022-12-31 38863398 2021-01-01 2021-12-31 38863398 2025-01-01 2025-12-31 Hovedtal EBITDA 38863398 2024-01-01 2024-12-31 Hovedtal EBITDA 38863398 2023-01-01 2023-12-31 Hovedtal EBITDA 38863398 2022-01-01 2022-12-31 Hovedtal EBITDA 38863398 2021-01-01 2021-12-31 Hovedtal EBITDA 38863398 2025-01-01 2025-12-31 Hovedtal Resultat foer skat 38863398 2024-01-01 2024-12-31 Hovedtal Resultat foer skat 38863398 2023-01-01 2023-12-31 Hovedtal Resultat foer skat 38863398 2022-01-01 2022-12-31 Hovedtal Resultat foer skat 38863398 2021-01-01 2021-12-31 Hovedtal Resultat foer skat 38863398 2023-12-31 38863398 2022-12-31 38863398 2021-12-31 38863398 2024-01-01 2024-12-31 38863398 2025-01-01 2025-12-31 Nogletal Individuel 1 38863398 2024-01-01 2024-12-31 Nogletal Individuel 1 38863398 2023-01-01 2023-12-31 Nogletal Individuel 1 38863398 2022-01-01 2022-12-31 Nogletal Individuel 1 38863398 2021-01-01 2021-12-31 Nogletal Individuel 1 38863398 2025-12-31 38863398 2024-12-31 38863398 2025-01-01 c:ContributedCapitalMember 38863398 2025-01-01 c:ReserveForDevelopmentExpenditureMember 38863398 2025-01-01 c:RetainedEarningsMember 38863398 2025-01-01 c:ProposedDividendRecognisedInEquityMember 38863398 2025-01-01 2025-12-31 c:ProposedDividendRecognisedInEquityMember 38863398 2025-01-01 2025-12-31 c:RetainedEarningsMember 38863398 2025-01-01 2025-12-31 c:ContributedCapitalMember 38863398 2025-01-01 2025-12-31 c:ReserveForDevelopmentExpenditureMember 38863398 2025-12-31 c:ContributedCapitalMember 38863398 2025-12-31 c:ReserveForDevelopmentExpenditureMember 38863398 2025-12-31 c:RetainedEarningsMember 38863398 2025-12-31 c:ProposedDividendRecognisedInEquityMember 38863398 2025-01-01 c:CompletedDevelopmentProjectsMember 38863398 2025-01-01 c:AcquiredIntangibleAssetsMember 38863398 2025-01-01 c:GoodwillMember 38863398 2025-01-01 2025-12-31 c:CompletedDevelopmentProjectsMember 38863398 2025-01-01 2025-12-31 c:AcquiredIntangibleAssetsMember 38863398 2025-01-01 2025-12-31 c:GoodwillMember 38863398 2025-12-31 c:CompletedDevelopmentProjectsMember 38863398 2025-12-31 c:AcquiredIntangibleAssetsMember 38863398 2025-12-31 c:GoodwillMember 38863398 2025-01-01 c:FixturesFittingsToolsAndEquipmentMember 38863398 2025-01-01 c:LeaseholdImprovementsMember 38863398 2025-01-01 2025-12-31 c:FixturesFittingsToolsAndEquipmentMember 38863398 2025-01-01 2025-12-31 c:LeaseholdImprovementsMember 38863398 2025-12-31 c:FixturesFittingsToolsAndEquipmentMember 38863398 2025-12-31 c:LeaseholdImprovementsMember 38863398 2025-01-01 c:InvestmentsInGroupEnterprisesMember 38863398 2025-01-01 c:ReceivablesFromGroupEnterprisesMember 38863398 2025-01-01 c:DepositsLongtermInvestmentsAndReceivablesMember 38863398 2025-01-01 2025-12-31 c:InvestmentsInGroupEnterprisesMember 38863398 2025-01-01 2025-12-31 c:ReceivablesFromGroupEnterprisesMember 38863398 2025-01-01 2025-12-31 c:DepositsLongtermInvestmentsAndReceivablesMember 38863398 2025-12-31 c:InvestmentsInGroupEnterprisesMember 38863398 2025-12-31 c:ReceivablesFromGroupEnterprisesMember 38863398 2025-12-31 c:DepositsLongtermInvestmentsAndReceivablesMember iso4217:DKK xbrli:pure BDO Statsautoriseret Revisionspartnerselskab Havneholmen 2, 6. sal DK-2450 København SV 45719375 Årsrapport 2026-06-09 Frank Hoelgaard Olsen OOONO A/S Gearhalsvej 1 2500 Valby Den uafhængige revisors erklæring 38863398 2017-08-17 Copenhagen 2025-01-01 2025-12-31 2024-01-01 2024-12-31 BDO Statsautoriseret Revisionspartnerselskab Havneholmen 2, 6. sal 2450 Copenhagen S Nykredit Bank Nørregade 49 1165 Copenhagen K Advokat NJORD Pilestræde 58 1112 Copenhagen K Today the Board of Directors and Executive Board have discussed and approved the Annual Report of OOONO A/S for the fi­nan­ci­al year 1 January  - 31 December 2025. The Annual Report is presented 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 2025 and of the results of the Company's operations for the fi­nan­ci­al year 1 January  - 31 December 2025. The Management Commentary includes in our opinion a fair presentation of the matters dealt with in the Commentary. We recommend the Annual Report be approved at the Annual General Meeting. Valby 2026-06-09 Christian Walther Øyrabø Trine Sørensen Chairman Christian Walther Øyrabø Leif Nørgaard Henrik Engel Eichen Martin Scheel Frykmann To the Shareholder of OOONO A/S Konklusion We ha­ve au­di­ted the Fi­nan­ci­al Sta­te­ments of OOONO A/S for the fi­nan­ci­al year 1 January - 31 December 2025, which comprise income statement, balance Sheet, sta­te­ment of chan­ges in e­qui­ty, no­tes and a summary of significant 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 assets, liabilities and financial position of the Com­pa­ny at 31 December 2025 and of the results of the Com­pa­ny's operations for the fi­nan­ci­al year 1 January - 31 December 2025 in accordance with the Da­nish Fi­nan­ci­al State­ments Act.   Basis for OpinionGrundlag for konklusion 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 (including International Independence Standards) (IESBA Code), together with the ethical requirements that are relevant to our audit of the Financial Statements in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. We be­lie­ve that the e­vi­den­ce we ha­ve ob­tai­ned is suf­fi­ci­ent and ap­prop­ria­te to pro­vi­de a ba­sis for our con­clu­si­on.   Grundlag for konklusion Ma­na­ge­ment's Re­spon­si­bi­li­ti­es for the Fi­nan­ci­al Sta­te­ments Management is responsible for the preparation of Fi­nan­ci­al Sta­te­ments that give a true and fair view in accordance with the Da­nish Fi­nan­ci­al State­ments Act and for such Internal control as Ma­na­ge­ment determines is necessary to enable the preparation of Fi­nan­ci­al Sta­te­ments that are free from material misstatement, whether due to fraud or error.   In preparing the Fi­nan­ci­al Sta­te­ments, Ma­na­ge­ment is responsible for assessing the Com­pa­ny's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting in preparing the Fi­nan­ci­al Sta­te­ments unless Management either intends to liquidate the Com­pa­ny or to cease operations, or has no realistic alternative but to do so.   Our objectives are to obtain reasonable assurance about whether the Fi­nan­ci­al Sta­te­ments as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Fi­nan­ci­al Sta­te­ments.   As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:   Identify and assess the risks of material misstatement of the Fi­nan­ci­al Sta­te­ments, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.   Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Com­pa­ny's internal control.   Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Ma­na­ge­ment.   Conclude on the appropriateness of Ma­na­ge­ment’s use of the going concern basis of accounting in preparing the Fi­nan­ci­al Sta­te­ments and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Com­pa­ny's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the Fi­nan­ci­al Sta­te­ments or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Com­pa­ny to cease to continue as a going concern.   Evaluate the overall presentation, structure and contents of the Fi­nan­ci­al Sta­te­ments, including the disclosures, and whether the Fi­nan­ci­al Sta­te­ments represent the underlying transactions and events in a manner that gives a true and fair view.   We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.   Statement on Management Commentary Management is responsible for Ma­na­ge­ment Com­men­ta­ry.   Our opinion on the Fi­nan­ci­al Sta­te­ments does not cover Ma­na­ge­ment Com­men­ta­ry, 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 Ma­na­ge­ment Com­men­ta­ry and, in doing so, consider whether Ma­na­ge­ment Com­men­ta­ry 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 Ma­na­ge­ment Com­men­ta­ry provides the information required under the Danish Financial Statements Act.   Based on the work we have performed, we conclude that Ma­na­ge­ment Com­men­ta­ry 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 Ma­na­ge­ment Com­men­ta­ry.   Copenhagen 2026-06-09 BDO Statsautoriseret Revisionspartnerselskab 45719375 Ole C. K. Nielsen Den uafhængige revisors erklæring State Authorised Public Accountant mne23299 323634000 155565000 73338000 84612000 47928000 24770000 89883000 70542000 47599000 28936000 12120000 Operating profit/loss before depreciation and amortisation (EBITDA) Operating profit/loss before depreciation and amortisation (EBITDA) Operating profit/loss before depreciation and amortisation (EBITDA) Operating profit/loss before depreciation and amortisation (EBITDA) Operating profit/loss before depreciation and amortisation (EBITDA) 43530000 24878000 9211000 -4088000 -2697000 -2384000 64779000 48664000 38642000 22181000 6828000 Profit/loss for the year before tax Profit/loss for the year before tax Profit/loss for the year before tax Profit/loss for the year before tax Profit/loss for the year before tax 29523000 16729000 7001000 138463000 76523000 51207000 52340000 34332000 21678000 -3205000 -3004000 -1546000 -1782000 -865000 20.5 29.7 37.8 44.9 42.3 62.6 53.9 68.1 59.7 109.4 23.2 22.6 31.4 32.5 18.0 Return on assets (%) Return on assets (%) Return on assets (%) Return on assets (%) Return on assets (%) The ratios stated in the list of key figures and ratios have been calculated as follows:   Equity ratio:  Equity, at year-end x 100 Total assets, at year-end Return on equity: Profit/loss after tax x 100        Average equity Return on assets: Operating profit/loss of main activities x 100             Total assets, at year-end Principal activities The company’s principal activities comprise the development and sales of electronic devices, including traffic safety devices, electronic parking discs and related software solutions. OOONO A/S operates in Denmark and across several European markets, with Germany as the primary market. Sales are conducted through online marketplaces and retail partners. The Company’s activities are centered around hardware products supported by proprietary software platforms, mobile applications and digital infrastructure. The Company’s traffic safety devices and electronic parking discs depend on continued functionality, maintenance and development of related software applications and cloud-based services to ensure product usability, customer experience and regulatory compliance. Revenue and profitability are primarily driven by sales volumes of hardware products, while software platforms and digital services support customer retention, product differentiation and future product development opportunities. Operational risks therefore differ between activities and include supply chain and product lifecycle risks related to hardware products as well as technology, cybersecurity, platform stability and software maintenance risks related to digital services and applications. The Company is also dependent on continued access to key retail partners, online marketplaces and digital distribution channels in its primary markets.  Germany remains the Company's most important market and therefore represents a significant contributor to both revenue and earnings. The Company also holds investments in subsidiaries supporting product development and medical technology activities within the Group structure. At 31 December 2025, investments in subsidiaries represented a significant part of the Company’s balance sheet and are considered strategically important to the Company’s long-term business development. These investments form part of the Company’s broader strategic platform and support continued development of technology, products and future market opportunities within the Group structure.  The principal activities of its subsidiaries include providing safety camera dataset and related services to partners and clients worldwide, development of a Class III medical device that would be the world's smallest, easiest-to-use, and most affordable automated external defibrillator and owns the rights to the developed personal safety alarm and associated application while responsible for maintaining and further developing the platform. Development in activities and financial and economic position Revenue for 2025 amounted to DKK 609.0 million, compared to DKK 583.4 million in 2024, corresponding to growth of 4.4%. Revenue growth was moderate compared with the significant growth achieved in previous years and was impacted by the ongoing portfolio transition, timing of retail activation in selected markets and strategic pricing initiatives implemented during the year. A total of 2.4 million devices were sold during 2025, primarily driven by continued volume development of traffic safety devices and solid performance of newly launched parking discs, while certain earlier product versions declined as part of the ongoing portfolio transition. Sales performance varied across markets. Germany remained the primary contributor to revenue and earnings. Growth in selected new markets progressed slower than originally expected, reflecting retail conditions, timing of channel activation and the maturity of the Company's product portfolio in these markets.   Revenue growth in 2025 has translated into improved profitability despite continued commercial and organisational investments. EBITDA grew by 27.4% to DKK 89.9 million (2024: DKK 70.5 million), corresponding to a margin of 14.8% (2024: 12.1%). The margin development reflects improved sourcing terms, controlled investments in organisational structure and favorable exchange rate movements during the year. Overall, despite moderate revenue growth, the company strengthened its EBITDA margins and improved profitability compared to the prior year. Management considers the financial performance satisfactory.  Management is pleased that the company has been able to continuously achieve revenue and profitability growth through a combination of internally generated funds and external financing. The development in profitability has positive impact on the company’s cash flow and capital structure, although the decrease in equity is primarily driven by dividend distributions and share buyback transactions during the year.  Total assets amounted to DKK 348.4 million as of 31 December 2025 (2024: DKK 290.6 million) while equity amounted to DKK 71.5 million (2024: DKK 86.3 million), corresponding to an equity ratio of 20.5% (2024: 29.7%). The increase in total assets primarily reflects continued investment in development activities, subsidiaries and working capital to support the Company's product portfolio and market activities. The company has maintained compliance with its financing agreements and covenants throughout the year. Based on forecasted cash flows and available credit facilities, Management considers the company’s liquidity and capital resources sufficient to support operations and planned activities for the next 12 months.   Profit for the year compared to the expected development  In the Annual Report for 2024, Management expected net revenue for 2025 of approximately DKK 675 million and an EBITDA margin in the range of 11–13%. The net revenue realised amounted to DKK 609.0 million, corresponding to a negative deviation of approximately DKK 66 million compared to the communicated expectations. The deviation is primarily attributable to slower-than-expected development in selected new markets, changes in channel mix and timing of retail expansion. Despite the lower-than-expected revenue, the Company achieved an EBITDA margin of 14.8%, which exceeds the originally communicated expectations. This is primarily driven by improved sourcing terms, controlled investments in the organisation and favorable exchange rate movements.  In the Annual Report for 2024, Management also communicated expectations regarding investments in ongoing development activities for current and future products within OOONO A/S and its subsidiaries in the range of DKK 50–75 million. During 2025, the Company continued to invest significantly in product development, software platforms and future product initiatives. Capitalised development costs in OOONO A/S amounted to DKK 31.1 million, while additional development-related investments and activities were carried out through its subsidiaries.  Investments in subsidiaries increased from DKK 78.4 million at 31 December 2024 to DKK 112.6 million at 31 December 2025, corresponding to an increase of DKK 34.2 million. The increase primarily reflects continued investments in strategic subsidiaries and development-related activities supporting future product development, technology platforms and market opportunities within the Group structure.  Overall, Management considers the level of investments and development activities to be in line with the strategic priorities and expectations communicated for 2025. Organisation development The company continued to strengthen its commercial and technical capabilities while maintaining cost control. Investments in product development, digital infrastructure and internal processes were sustained to support future growth initiatives. The company employed an average of 105 full-time employees in 2025. Management remains committed to developing internal competencies and ensuring that the organisation is structured to support both operational efficiency and long-term expansion. Research and development activities Development activities remained a strategic priority during 2025, whereby investments were directed towards product optimisation, continued software development and enhancement of the company’s technological capabilities.  Capitalised development costs of DKK 31.1 million primarily relate to continued development of core product platforms and software solutions expected to support future revenue growth. Management remains confident that these investments strengthen the company’s long-term competitive position. Management has assessed the expected future use and commercial relevance of the development projects and does not consider there to be uncertainty relating to recognition or measurement of these assets. More generally, the preparation of the financial statements involves the use of accounting estimates and management judgments in a number of areas, including capitalised development costs, inventories, goodwill and items affected by foreign exchange rates. These areas are subject to ongoing monitoring as part of the Company’s risk management processes. Management considers the applied assumptions and estimates to be reasonable based on the information available at the reporting date. Significant events during the financial year During the financial year, the Company changed its accounting class from C (medium-sized) to C (large-size). The change has not resulted in any changes to recognition and measurement and has therefore had no quantitative impact on the annual financial statements. The company became a subsidiary of Holdingselskabet af 9. december 2025 A/S on 9 December 2025. Walther Øyrabø Holding ApS remained the ultimate parent company. Corporate restructurings During 2025, the Company completed several transactions affecting its ownership structure and equity composition. On 9 December 2025, the Company became a subsidiary of Holdingselskabet af 9. december 2025 A/S, while Walther Øyrabø Holding ApS remained the ultimate parent company. The change is considered a structural ownership change and has not affected the Company’s day-to-day operations, commercial activities or accounting policies. During the financial year, dividend distributions of DKK 10.0 million were made and the Company acquired treasury shares for DKK 54.2 million. These transactions reduced equity during the year and are the primary reason that equity decreased from DKK 86.3 million at 31 December 2024 to DKK 71.5 million at 31 December 2025, despite the Company’s profit for the year of DKK 49.4 million. Management considers these transactions to be capital structure and ownership-related transactions. The effects on equity are considered permanent, while they are not expected to have a material impact on the Company’s operating activities, revenue generation or future profitability. Significant events after the end of the financial year Joule Medical Holding ApS was incorporated by Holdingselskabet af 9. december 2025 A/S on 13 January 2026 and acquired ownership of Joule Medical A/S on 22 January 2026. The process of merging Joule Medical Holding ApS and Joule Medical A/S is ongoing. SIRÈNE OOONO ApS was sold by the Company to Holdingselskabet af 9. december 2025 A/S on 26 January 2026. The Company acquired Cartime Technologies A/S on 30 January 2026. Its wholly owned subsidiary, PARKPARK A/S, operates a Danish parking app designed for private and business users, focusing on low-cost, prepaid and automated parking payments across Denmark. These events are not expected to have a material impact on the 2025 financial statements, as the transactions were completed after the balance sheet date. However, the transactions are expected to influence the Company’s future group structure, strategic activities and operational focus areas, including parking solutions and medical technology activities. The acquisition of Cartime Technologies A/S and PARKPARK A/S is expected to increase the Company’s exposure to digital parking solutions and related software activities going forward.  No other events have occurred after the end of the financial year that are considered to have material impact on the Company’s financial position. Principal risks and uncertainties The Company is exposed to risks related to market demand, supply chain disruptions, foreign exchange fluctuations and dependency on key sales channels. In addition, the Company is exposed to risks related to rapid technological development, software platform functionality, product lifecycle management and dependency on continued consumer adoption of its products. Market and channel risks primarily relate to demand in key markets, particularly Germany, and dependency on retail partners, online platforms and marketplaces. Changes in consumer behavior, channel terms or retail activation may affect revenue growth and profitability. Operational risks relate to the availability of products and components, supplier performance and the Company's ability to manage product transitions and launches. The Company continuously monitors these risks and implements mitigation measures where relevant. Future expectations For 2026, Management expects revenue growth compared to 2025, driven by continued product development, product portfolio optimisation and market expansion. Revenue is expected to be in the range of DKK 630-670 million, translated into an organic growth rate of 5-8%. EBITDA is expected to be in the range of DKK 75-95 million, corresponding to an EBITDA margin broadly in line with the level achieved in 2025. The expectations are based on continued demand in the Company's primary markets, continued development of retail and online sales channels, stable supply conditions and continued investments in commercial capabilities and product development. Treasury shares The share buyback program is part of the Company's capital structure optimisation and aims to support shareholder value, ownership flexibility and efficient capital allocation. The program provides Management with flexibility to adjust the Company’s capital structure over time, including potential future cancellation of treasury shares, optimisation of excess liquidity and support of long-term strategic and ownership-related considerations. The company purchased treasury shares of a nominal value of DKK 124 thousand during the year for a total consideration of DKK 54.2 million. No treasury shares were sold while treasury shares with a nominal value of DKK 92 thousand have been cancelled during the year.  At 31 December 2025, the Company held treasury shares with a nominal value of DKK 77 thousand, corresponding to 9.3% of the share capital.  Financial risks  The Company is exposed to financial risks primarily related to foreign exchange risk, credit risk and liquidity risk. Foreign exchange risk arises primarily from sales activities in European markets, particularly EUR-denominated sales in Germany and other EU markets, as well as from purchases and sourcing activities denominated in USD. A significant share of the Company’s revenue and cost base is therefore exposed to fluctuations in EUR/DKK and USD/DKK exchange rates, which may impact revenue, gross margins and profitability. The Company does not currently apply systematic financial hedging instruments but continuously monitors exchange rate developments and evaluates relevant mitigation initiatives as part of its ordinary financial management, sourcing strategy and pricing decisions. Credit risk is primarily related to receivables from online marketplaces and retail partners. The Company continuously assesses the creditworthiness of significant customers and counterparties and manages exposure through ordinary commercial procedures, diversification of sales channels and ongoing monitoring of payment patterns and outstanding balances. Liquidity risk is managed through continuous monitoring of operating cash flows, working capital development, available credit facilities and financing covenants. The Company aims to maintain adequate liquidity reserves and financial flexibility to support operations, investments and future growth initiatives. Management regularly monitors compliance with financing agreements and covenant requirements. Statement on corporate social responsibility Business model  The Company develops and sells electronic consumer products, including traffic safety devices, electronic parking discs and related software solutions. The Company operates in Denmark and across several European markets, with Germany as the primary market. Sales are conducted through online platforms and established retail partners. The Company’s business model is primarily based on product development, sourcing, sales, distribution and software-supported services. Production is carried out through external suppliers and manufacturing partners, while the Company focuses on product concepts, technology, commercial execution and customer experience. Non-financial risks Management has assessed the Company’s non-financial risks in relation to environmental and climate matters, social and employee matters, human rights, and anti-corruption and bribery. Environmental and climate risks are mainly related to sourcing, production, packaging, transportation and product lifecycle of electronic consumer products. The Company manages these risks through ordinary supplier dialogue, product development considerations and logistics planning. Risks related to social and employee matters are assessed as limited. The Company’s employees are primarily employed in administrative, commercial, product development and support functions. These risks are managed through ordinary management processes, ongoing dialogue, compliance with employment legislation and relevant training where needed. Risks related to human rights are assessed as limited due to the nature of the Company’s activities, geographic footprint and use of established commercial partners. Supplier relationships and commercial agreements are managed through ordinary business procedures, and Management expects suppliers and business partners to comply with applicable laws and regulations. Risks related to anti-corruption and bribery are assessed as limited. Sales are primarily conducted through established retail partners, online platforms and ordinary commercial channels. The Company applies general internal approval procedures and financial controls to mitigate risks related to payments, supplier relationships and commercial agreements. Non-financial key performance indicators The Company does not currently apply specific non-financial key performance indicators in relation to corporate social responsibility. Management will continue to assess whether such indicators should be introduced as the Company grows and its reporting requirements and stakeholder expectations develop. The Company has not adopted formal policies for environmental, social and employee matters, human rights, or anti-corruption and bribery. Given the nature of the Company’s activities as a developer and distributor of consumer electronics, the risks related to these areas are assessed as limited. The Company continuously considers these aspects in its operations, including product development, supplier selection and employee conditions. The Company does not currently apply specific non-financial key performance indicators in relation to corporate social responsibility. Environmental and climate matters The Company has not adopted a formal policy for environmental and climate matters. Management considers the risks related to environmental and climate matters to be limited due to the nature of the Company’s activities. The Company’s operations are primarily focused on product development, sales and distribution of electronic consumer products and do not involve significant manufacturing activities directly operated by the Company. The Company is nevertheless aware that its products may have environmental impacts related to sourcing, production, packaging, transportation and product lifecycle. These matters are considered as part of ordinary business decisions, including supplier dialogue, product development and logistics planning. Management will continue to assess whether formal environmental and climate policy should be adopted as the Company grows and as requirements and expectations regarding sustainability reporting become essential. Social and employee matters The Company has not adopted a formal policy for social and employee matters. Management considers the risks related to social and employee matters to be limited due to the nature of the Company’s activities, the size of the organisation and the fact that the Company’s employees are primarily employed in administrative, commercial, product development and support functions. The Company aims to provide a safe and attractive working environment and supports employee development through ordinary management processes, ongoing dialogue and relevant training where needed. Employee conditions are managed in accordance with applicable employment legislation and internal business procedures. Management will continue to assess whether a formal policy for social and employee matters should be adopted as the Company grows and its organisational complexity increases. Matters relating to human rights The Company has not adopted a formal policy for matters relating to human rights. Management considers the risk of adverse impacts on human rights to be limited due to the nature of the Company’s activities, its geographic footprint and the fact that the Company’s commercial activities are primarily conducted through established retail partners, online platforms and ordinary commercial channels. The Company does not operate in industries or markets that Management considers to involve a heightened risk of human rights violations. Supplier relationships and commercial agreements are managed through ordinary business procedures, and Management expects suppliers and business partners to comply with applicable laws and regulations. Management will continue to assess whether a formal human rights policy should be adopted as the Company grows and its international activities develop. Anti-corruption and bribery The Company has not adopted a formal policy for anti-corruption and bribery. Management considers the risk of corruption and bribery to be limited due to the nature of the Company’s business model, its geographic footprint and the fact that sales are primarily conducted through established retail partners, online platforms and ordinary commercial channels. The Company does not operate in industries or markets that Management considers to involve a heightened risk of corruption or bribery. General internal approval procedures and financial controls are applied to mitigate risks related to payments, supplier relationships and commercial agreements. Management will continue to assess whether a formal anti-corruption and bribery policy should be adopted as the Company grows and its international activities develop. Data ethics The Company has not adopted a formal data ethics policy. The Company's activities involve processing of data in connection with product functionality, digital platforms, customer support and general business operations. Such processing is managed through existing procedures for data protection, information security and compliance with applicable legislation. Management does not currently consider the adoption of a separate data ethics policy to be necessary, as the Company does not use data processing as a separate revenue-generating activity and does not consider automated decision-making, profiling or resale of personal data to be a material part of the business model. Management will continue to assess whether formal data ethics policy should be established as the Company's digital platforms and data usage evolve. 608991000 583447000 15378000 10033000 3361000 5719000 305460000 328668000 142555000 131704000 179715000 138827000 89832000 68285000 9179000 4760000 80704000 65782000 -3325000 -2483000 6904000 3395000 19504000 18030000 64779000 48664000 15367000 11330000 49412000 37334000 41671000 16395000 3160000 4353000 339000 523000 45170000 21271000 5022000 3276000 927000 1298000 5949000 4574000 112605000 78364000 15311000 28728000 156000 45000 128072000 107137000 179191000 132982000 44641000 72655000 7973000 11296000 52614000 83951000 47541000 59225000 7122000 3771000 174000 156000 2337000 1996000 57174000 65148000 0 1000 0 1000 59402000 8517000 169190000 157617000 348381000 290599000 828000 920000 32503000 13348000 28187000 62009000 10000000 10000000 71518000 86277000 9331000 3792000 9331000 3792000 5864000 8068000 9828000 9550000 15692000 17618000 97963000 48397000 76336000 81139000 23789000 1653000 251840000 182912000 267532000 200530000 348381000 290599000 DKK '000Sha­re ca­pi­talReserve for development costsRetained earningsProposed dividendTotal Equity at 1 January 202592013.34862.00910.00086.277 -10.000 Proposed profit allocation, see note 7 39.41210.00049.412 Transactions with ownersDividend paid -10.000-10.000Capital reduction-92 92 0Purchase of own equity investments -54.171 -54.171 Other legal bindingsCapitalised development costs 19.155-19.155 0 Equity at 31 December 202582832.50328.18710.00071.518 920000 13348000 62009000 10000000 -10000000 39412000 -10000000 -92000 92000 -54171000 19155000 -19155000 828000 32503000 28187000 10000000 20252024 DKK '000DKK '000 1 | Net revenue Revenue, Denmark 1.0332.113 Revenue, Europe 607.965581.354 Discounts -7-20 608.991583.447 Segment details (activities) Sales, main product608.991583.447 608.991583.447 2 | Fee to statutory auditor Total fee Pursuant to section 96(3) of the Danish Financial Statements Act, the Company has elected not to disclose information on the auditor’s fees.  The Company is fully consolidated in the group financial statements of the ultimate parent company, Walther Øyrabø Holding ApS, Gearhalsvej 1, 1., 2500 Valby, CVR number 30 56 20 70, in which the auditor’s fees are disclosed for the group as a whole. 3 | Staff costs Ave­ra­ge num­ber of full ti­me em­ploy­ees10576 Wages and salaries 79.12461.343 Pensions 6.8384.381 Social security costs 1.024572 Other staff costs 2.8461.989 89.83268.285 Remuneration of Executive Board and Board of Directors 2.3052.312 2.3052.312 105 76 79124000 61343000 6838000 4381000 1024000 572000 2846000 1989000 89832000 68285000 2305000 2312000 4 | Other financial income Interest income from group enterprises 1.8652.349 Other interest income 5.0391.046 6.9043.395 1865000 2349000 5039000 1046000 6904000 3395000 5 | Other financial expenses Interest expenses to group enterprises 223142 Other interest expenses 19.28117.888 19.50418.030 223000 142000 19281000 17888000 19504000 18030000 9828000 9550000 5539000 1780000 7 | Proposed distribution of profit Proposed dividend for the year 10.00010.000 Retained earnings 39.41227.334 49.41237.334 10000000 10000000 39412000 27334000 49412000 37334000 8 | Intangible assets DKK '000Development projects completedIntangible fixed assets acquiredGoodwill Cost at 1 January 2025 22.2719.1661.286 Additions 31.0891590 Cost at 31 December 2025 53.3609.3251.286   Amortisation at 1 January 2025 5.8764.814763 Amortisation for the year 5.8131.351184 Amortisation at 31 December 2025 11.6896.165947 Carrying amount at 31 December 202541.6713.160339 The company's development costs relate to the development of core products and related software solutions based on externally invoiced development. OOONO A/S has current plans for utilisation of the projects. Sales and earnings on projects are included in the 2026 budget, supported by orders placed with sub-suppliers for the delivery of products for sale in 2026. 22271000 9166000 1286000 31089000 159000 0 53360000 9325000 1286000 5876000 4814000 763000 5813000 1351000 184000 11689000 6165000 947000 41671000 3160000 339000 9 | Property, plant and equipment DKK '000Other plant, fixtures and equipmentLeasehold improvements Cost at 1 January 2025 5.2332.621 Additions 3.057148 Cost at 31 December 2025 8.2902.769   Depreciation and impairment losses at 1 January 2025 1.9561.323 Depreciation for the year 1.312519 Depreciation and impairment losses at 31 December 2025 3.2681.842 Carrying amount at 31 December 20255.022927 5233000 2621000 3057000 148000 8290000 2769000 1956000 1323000 1312000 519000 3268000 1842000 5022000 927000 10 | Financial non-current assets DKK '000Investments in subsidiariesReceivables from Group companiesRent deposit and other receivables Cost at 1 January 2025 83.51428.72845 Additions 37.7660128 Disposals -200-13.417-17 Cost at 31 December 2025 121.08015.311156   Impairment losses and amortisation of goodwill at 1 January 2025 5.15000 Amortisation of goodwill 3.32500 Impairment losses and amortisation of goodwill at 31 December 2025 8.47500 Carrying amount at 31 December 2025112.60515.311156 Investments in subsidiaries (DKK '000) Name and domicilEquityProfit/loss for the yearOwnership Joule Medical A/S, Denmark 69.704-6.44482,42 % Sirène OOONO ApS, Denmark 5.552-2.32592,50 % Gopark ApS, Denmark 39123100 % OOONO GmbH, Germany -2.858-19100 % OOONO UK Limited, United Kingdom 11.9012.660100 % 83514000 28728000 45000 37766000 0 128000 200000 13417000 17000 121080000 15311000 156000 5150000 0 0 3325000 0 0 8475000 0 0 112605000 15311000 156000 11 | Prepayments Prepayments recognised as assets consists of payment of expenses related to subsequent years. Costs 2.3371.996 2.3371.996 12 | Sha­re ca­pi­talAllocation of Share capital: A-Shares, 786.319 unit in the denomination of 1 DKK787786 B-Shares, 0 unit in the denomination of 1 DKK093 C-Shares, 41.438 unit in the denomination of 1 DKK4141 828920 13 | Provision for deferred tax The provision for deferred tax is related to differences between the carrying amount and tax value of securities, receivables, intangible and tangible fixed assets, including recognised finance lease contracts. Deferred tax is related to Intangible assets 9.1973.703 Property, plant and equipment 13489 9.3313.792 Deferred tax, beginning of year 3.7922.013 Deferred tax of the year, income statement 5.5391.779 Provision for deferred tax 31 December 20259.3313.792 14 | Long-term liabilities 31/12 2025RepaymentDebt outstanding31/12 2024DKK '000total liabilitiesnext yearafter 5 yearstotal liabilities Bank debt 9.0993.235012.028Joint tax contribution payable (long-term) 9.828009.550 18.9273.235021.578 0 Joint liabilitiesThe Company is jointly and severally liable together with the Parent Company and the other group companies in the joint taxable group for tax on the group’s joint taxable income and for certain possible withholding taxes, such as dividend tax, etc. Tax payable on the Group’s joint taxable income is stated in the annual report of Walther Øyrabø Holding ApS, which serves as the management company for the joint taxation. 2025 DKK '000 Other financial commitments The total other financial commitments as of the balance sheet date amount to: 5.429.573 16 | Charges and securities As security for debt to Danmarks Eksport- og Investeringsfond (EIFO) of DKK 2,861 thousand, the company has provided a business mortgage security of nominally DKK 13,000 thousand. Additionally as security for debt towards the companys bank Nykredit Bank A/S of DKK 89,966 thousand, the company has provided a business mortgage security of nominally DKK 70,000 thousand. The business mortgage securities includes the following assets, whose accounting value on the balance sheet date amounts to: DKK '000 Goodwill339 Intangible fixed assets acquired3.160 Trade receivables47.541 Inventories52.614 The company has issued unlimited letters of support to the subsidiaries Joule Medical A/S, Sirène OOONO ApS, and OOONO GmbH to ensure their short-term liquidity needs. Additionally, the company has provided a bank guarantee through Nykredit of DKK 1,955 thousand as security for the company's rental obligations. 17 | Related parties The Company's related parties include: Controlling interest Christian Walther Øyrabø, Gearhalsvej 1, 1., 2500 Valby, member of the Executive Board and Board of Directors, is the ultimate beneficial owner. Transactions with related parties The Company did not carry out any material transactions that were not concluded on market conditions. According to section 98c, subsection 7 of the Danish Financial Statements Act information is given only on transactions that were not performed on common market conditions. 18 | Consolidated Financial Statements The Company has elected not to prepare consolidated financial statements in accordance with section 112 of the Danish Financial Statements Act. The Company and its subsidiaries are included in the consolidated financial statements of the ultimate parent company, Walther Øyrabø Holding ApS, Gearhalsvej 1, 1., 2500 Valby, CVR number 30 56 20 70, which prepares consolidated financial statements covering the entire group. The consolidated financial statements are prepared in accordance with Danish Financial Statements Act. and are subject to statutory audit. The consolidated financial statements of the parent company are publicly available at cvr.dk.   The Annual Report of OOONO A/S for 2025 has been presented in accor­dance with the pro­vi­sions of the Da­nish lar­ge-si­ze Fi­nan­ci­al State­ments Act for en­ter­pri­ses in re­por­ting class C . During the financial year, the Company changed its accounting class from C (medium-sized) to C (large-size). The change has not resulted in any changes to recognition and measurement and has therefore had no quantitative impact on the annual financial statements.  Regnskabsklasse C, stor virksomhed1trueThe Annual Report is prepared consistently with the accounting principles applied last year.   Regnskabsklasse C, stor virksomhed true Net revenue Net revenue from the sale of merchandise and finished goods is recognised in the Income Statement if supply and risk transfer to purchaser has taken place before the end of the year and if the income can be measured reliably and is expected to be received.   Net revenue is recognised exclusive of VAT and less duties and discounts related to the sale.   Costs of raw materials and consumables Raw materials and consumables comprises the costs of raw materials and consumables used to reach the revenue for the year. Additionally, decrease or increase of inventories of raw materials and consumables for the year is included, as well as normal impairment of inventories of raw materials and consumables.   Other operating income Other operating income includes items of a secondary nature in relation to the Group’s and the Company’s activities.   Work performed on own account and recorded under assets Work performed on own account and recorded under assets primarily includes personnel costs and external consulting costs.   Other external expenses Other external expenses include other production, sales, delivery and administrative costs, including costs of energy, marketing, premises, loss on bad debts,  lease expenses, etc   Staff costs Staff costs comprise wages and salaries, including holiday pay and pensions, and other costs of social security etc., for the Com­pa­ny's employees. Repayments from public authorities are deducted from staff costs.   Income from investments in subsidiaries Dividend from sub­si­dia­ri­es is recognised in the financial year in which the dividend is declared. In connection with transfers, potential profits are recognised when the economic rights related to the sold equity interests are transferred, however, at the earliest when the profit has been realised or is regarded as realisable. Moreover, realised losses other than impairments are included where identified.   Financial income and expenses Financial income and expenses include interest income and expenses, financial expenses of finance leases, realised and unrealised gains and losses arising from securities, debt and transactions in foreign currencies, as well as charges and allowances under the tax-on-account scheme, etc. Financial income and expenses are recognised by the amounts that relate to the financial year. Interest income and expenses are calculated on amortised cost prices.   Tax The tax for the year, which consists of the current tax for the year and changes in deferred tax, is recognised in the Income Statement by the share that may be attributed to the profit for the year, and is recognised directly in equity by the share that may be attributed to entries directly to equity.   Intangible fixed assets Acquired goodwill is measured at cost less accumulated amortisation. Goodwill is amortised on a straight-line basis over the expected useful life which is estimated to 7-10 years. The period of amortisation is determined based on an assessment of the acquired Company’s position in the market and earnings profile, and the industry-specific conditions.   Patents and licences are measured at the lower of cost less accumulated amortisation and the recoverable amount. Patents are amortised over the remaining patent period and licences are amortised over the period of the agreement, however, no more than 8 years.   Development projects comprise costs, including wages and salaries, and amortisation, which directly or indirectly can be related to the Company’s development activities and which fulfil the criteria for recognition in the Balance Sheet.   The accounting item is measured at the lower of the capitalised costs less accumulated amortisation and recoverable amount.   Capitalised development costs are amortised on a straight-line basis over the estimated useful life after completion of the development work. The amortisation period is normally 5-7 years.   Intangible fixed assets are generally written down to the recoverable amount if this is lower than the carrying amount.   Profit or loss from sale of intangible fixed assets is calculated at the difference between the sales price and the carrying amount at the time of the sale. Profit and loss are recognised in the Income Statement under other operating income or other operating expenses.    Tangible fixed assets Land and buildings, production plant and machinery, other plant, fixtures and equipment are measured at cost less accumulated depreciation and impairment losses.   The depreciation base is cost less estimated residual value after end of useful life.   The cost includes the acquisition price and costs incurred directly in connection with the acquisition until the time when the asset is ready to be used.    Straight-line depreciation is provided on the basis of an assessment of the expected useful lives of the assets and their residual value:   Useful lifeResidual valueOther plant, fixtures and equipment 5 years0%Leasehold improvements 5 years0% Profit or loss on sale of property, plant and equipment is stated as the difference between the sales price less selling costs and the carrying amount at the date of sale. Profit or loss is recognised in the Income Statement as other operating income or other operating expenses.   Financial non-current assets Equity investments in sub­si­dia­ri­es are measured at cost. If the cost exceeds the net realisable value, this is written down to the lower value.   Received dividend is deducted in the carrying amount of the equity investment.   Deposits include rental deposits which are recognised and measured at cost. Deposits are not depreciated.   Other receivables are measured at amortised cost which usually corresponds to the nominal amount. The amount is written down to meet expected losses.   Impairment of fixed assets The carrying amount of in­tan­gib­le fi­xed and pro­per­ty, plant and equip­ment to­get­her with fi­xed as­sets, which are not mea­su­red at fair va­lue, are assessed annually for indications of impairment other than that reflected by amortisation and depreciation.   In the event of impairment indications, an impairment test is made for each asset or group of assets, respectively. If the recoverable amount is lower than the carrying amount, the asset is written down to the recoverable amount.   The recoverable amount is calculated at the higher of the capital value and the sales value less expected costs of a sale. The capital value is determined as the Company's share in the current value of the net cash flows which the subsidiary is expected to generate through its activities and from sale of assets after the end of their useful lives. A discount rate is used which reflects the risk-free market rate and the owners' minimum return on interest requirements for similar assets. The growth rate in the terminal period is determined in accordance with the standards within the industry.   Inventories Inventories are measured at cost using the FIFO-principle. If the net realisable amount is lower than cost, the inventories are written down to the lower amount.   The cost of merchandise as well as raw materials and consumables is calculated at acquisition price with addition of transportation and similar costs.   The cost of finished goods and work in progress includes the cost of raw materials, consumables, direct payroll cost and other direct and other indirect production costs include indirect mate­rials and payroll and maintenance and depreci­ation of the machines, factory buildings and equipment used in the production process, the cost of factory administration and management and capitalised development costs relating to the products.   The net realisable value of inventories is stated at the expected sales price less direct completion costs and costs incurred to execute the sale and is determined with due regard to marketability, obsolescence and development in expected sales price of the inventories.   Receivables Receivables are measured at amortised cost which usually corresponds to nominal value. The value is written down to meet expected losses.   Write-off is performed to provide for losses when an objective indication has been assessed to have incurred that a receivable or a portfolio of receivables are impaired. If there is an objective indication that an individual receivable is impaired, the write-off is performed at individual level.   Receivables for which there are no objective indication of impairment at individual level are assessed at portfolio level for objective indication of impairment. The portfolios are primarily based on the debtors’ registered office and credit rating in accordance with the Company’s policy for credit risk management. The objective indicators, which are applied for portfolios, are determined based on the historical loss experiences.   Write-off is determined as the difference between the carrying amount of receivables and the present value of the expected cash flows, including realisable value of any received collaterals. The effective interest rate is used as discount rate for the single receivable or portfolio.   Accruals, assets Accruals recognised as assets include costs incur­red relating to the subsequent financial year.   Securities and investments Securities recognised as current assets, comprise public quoted bonds, shares and other securities. Public quoted securities are measured at the market price. Non-quoted equity interests are measured at cost price. Other securities are measured at cost price in so far as an approximate sales value cannot be stated reliably.   Tax payable and deferred tax Current tax liabilities and receivable current tax are recognised in the Balance Sheet as the calculated tax on the taxable income for the year, ad­justed for tax on the taxable income for previous years and taxes paid on account.   The Company is subject to joint taxation with Danish Group companies. The current corporation tax is distributed among the joint taxable companies in proportion to their taxable income and with full allocation and refund related to tax losses. The joint taxable companies are included in the tax-on-account scheme. Joint taxation contributions receivable and payable are recognised in the Balance Sheet under current assets and liabilities, respectively.   Deferred tax is measured on the temporary dif­ferences between the carrying amount and the tax value of assets and liabilities.   Deferred tax assets, including the tax value of tax loss carryforwards, are measured at the amount at which the asset is expected to be used within a reasonable number of years, either by setoff against tax on future earnings or by setoff against deferred tax liabilities within the same legal tax entity.   Deferred tax is measured on the basis of the tax rules and tax rates that under the legislation in force on the Balance Sheet date will be ap­pli­cable when the deferred tax is expected to crystallise as current tax. Any changes in the deferred tax resulting from changes in tax rates, are recognised in the income statement, except from items recognised directly in equity.   Liabilities Financial liabilities are recognised at the time of borrowing by the amount of proceeds received less transaction costs. In subsequent periods, the financial liabilities are measured at amortised cost equal to the capitalised value when using the effective interest, the difference between the proceeds and the nominal value being recog­nised in the Income Statement over the loan period.   The amortised cost of current liabilities corresponds usually to the nominal value.   Cash Flow Statement   With reference to Section 86(4) of the Danish Financial Statements Act, the Company has not prepared a cash flow statement. A cash flow statement has been prepared for the Group.   With reference to Section 86(4) of the Danish Financial Statements Act, the Company has not prepared a cash flow statement. A cash flow statement has been prepared for the Group.