Årsrapport 30700228 EY Godkendt Revisionspartnerselskab Vestre Havnepromenade 1A 9000 Aalborg 2021-01-01 2021-12-31 2020-01-01 2020-12-31 38330284 DSI Dantech AAL A/S Speditørvej 1 9000 Aalborg 2017-01-06 Aalborg 99733700 www.dsidantech.com EY Godkendt Revisionspartnerselskab 30700228 Vestre Havnepromenade 1A 9000 Aalborg 2022-06-27 Lars Priess Regnskabsklasse C, mellemstor virksomhed Revisionspåtegning Grundlag for konklusion Konklusion true 2022-06-27 2022-06-27 CaseWare Working Papers Aalborg Michael Bohl Brinks Klaus Beyer Nielsen Chair Lars Priess Michael Bohl Brinks Aalborg Søren V. Nejmann Thomas S. Kallehauge State Authorised Public Accountant mne32775 State Authorised Public Accountant mne35422 58754000 36236000 31791000 16136000 20317000 19911000 8354000 8291000 Earnings before interest, taxes, depreciation and amortisation (EBITDA) Earnings before interest, taxes, depreciation and amortisation (EBITDA) Earnings before interest, taxes, depreciation and amortisation (EBITDA) Earnings before interest, taxes, depreciation and amortisation (EBITDA) Earnings before interest, taxes, depreciation and amortisation (EBITDA) 17324000 6713000 6658000 13000 -1456000 -1368000 -973000 -873000 13258000 16591000 15910000 5690000 5786000 Profit before tax Profit before tax Profit before tax Profit before tax Profit before tax 12403000 4422000 4498000 18943000 16160000 12578000 13294000 8333000 Fixed assets Fixed assets Fixed assets Fixed assets Fixed assets 91014000 72827000 68914000 64975000 41327000 Non-fixed assets Non-fixed assets Non-fixed assets Non-fixed assets Non-fixed assets 81492000 78269000 49660000 1282000 4526000 1656000 6236000 7601000 21723000 9420000 4998000 13.4 22 21.7 10.5 13.4 13.2 36.6 26.7 12 10.1 45.2 48.1 79.7 61.3 90 35 26 21 44888000 49526000 28626000 28491000 2891000 2270000 126000 718000 13245000 18047000 350000 83000 337000 1539000 13258000 16591000 2630000 3546000 10628000 13045000 2862000 327000 1000000 1200000 3167000 1631000 7029000 3158000 6698000 7645000 4034000 4192000 10732000 11837000 1182000 1165000 1182000 1165000 18943000 16160000 9658000 6524000 1407000 214000 11065000 6738000 39567000 21815000 32104000 15118000 1749000 1306000 5311000 3177000 336000 290000 79067000 41706000 882000 24383000 91014000 72827000 109957000 88987000 500000 500000 4703000 1528000 9274000 30541000 14477000 32569000 11100000 9609000 691000 2222000 11791000 11831000 414000 290000 414000 290000 168000 115000 11339000 15132000 17660000 7324000 32305000 11724000 15725000 5190000 1139000 0 4939000 4812000 83275000 44297000 83689000 44587000 109957000 88987000 500000 1528000 30541000 3175000 7453000 28720000 500000 4703000 9274000 25825000 25752000 2085000 1934000 716000 805000 28626000 28491000 47 48 30000 43000 320000 40000 97000 35000 240000 1504000 1491000 3546000 1139000 0 2630000 3546000 561000 2000000 1631000 1336000 0 3167000 1631000 0 -1631000 3528000 2000000 3167000 234000 800000 0 432000 200000 0 666000 1000000 0 2862000 1000000 3167000 11658000 6451000 855000 427000 351000 0 12162000 6878000 4013000 2259000 1674000 585000 223000 0 5464000 2844000 6698000 4034000 844000 190957000 124833000 9609000 6063000 11100000 9609000 1421000 506000 841000 1933000 16465000 8999000 -152000 0 -7475000 -1829000 28720000 0 3175000 0 -21267000 13045000 Today, the Board of Directors and the Executive Board have discussed and approved the annual report of DSI Dantech AAL A/S for the financial year 1 January - 31 December 2021. The annual report is prepared in accordance with the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the financial position of the Company at 31 December 2021 and of the results of the Company's operations for the financial year 1 January - 31 December 2021. Further, in our opinion, the Management's review gives a fair review of the development in the Company's operations and financial matters and the results of the Company's operations and financial position. We recommend that the annual report be approved at the annual general meeting. To the shareholders of DSI Dantech AAL A/S We have audited the financial statements of DSI Dantech AAL A/S for the financial year 1 January - 31 December 2021, which comprise income statement, balance sheet, statement of changes in equity and notes, including accounting policies. The financial statements are prepared in accordance with the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the financial position of the Company at 31 December 2021 and of the results of the Company's operations for the financial year 1 January - 31 December 2021 in accordance with the Danish Financial Statements Act. 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 believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Independence We are independent of the Company in accordance with the International Ethics Standards Board for Accountants' Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. 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 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 applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements. 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 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 note 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. Management 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. The Company's activities are development, production and sale of freezers within the global food and feed industry. The income statement for 2021 shows a profit of DKK 10,628 thousand against a profit of DKK 13,045 thousand last year, and the balance sheet at 31 December 2021 shows equity of DKK 14,477 thousand. In the annual report for 2020, Management expected the Company's commercial earnings to be at the same level for 2021. The results for the year are less than expected. Given the significant negative effect of COVID-19 on the global business environment, Management considers the financial performance in 2021 to be overall satisfactory. The recent tragic events in Ukraine might affect the 2022 result of the Company negatively. The sanctions imposed on Russia is expected to further increase raw material prices. This and the overall uncertainty related to the situation might result in customers holding back major investments. No other events materially affecting the Company's financial position have occurred subsequent to the financial year-end. The Company is starting 2022 with a strong order backlog and a healthy pipeline of potential projects. However, uncertainty in the global business environment is still high, both due to continued effects of Covid-19 including travel restriction for some key markets and due to the continued volatile global supply chains. Due to the significant uncertainty management expects both order intake and margins to come under pressure in 2022, however based on the strong starting point in 2022 still believes that it is possible to deliver double digit growth on revenue as well as on profitability. Based on this, management expects a profit in 2022 in the level of DKK 30-40 million. The share capital contains 500,000 shares of DKK 1 nominal value each. No shares are subject to special rights. The annual report of DSI Dantech AAL A/S for 2021 has been prepared in accordance with the provisions in the Danish Financial Statements Act applying to medium-sized reporting class C entities. Effective from the financial year 2021, the Company has implemented amending act no. 1716 of 27 December 2018 to the Danish Financial Statements Act. The implementation of the amending act has not affected the Company's accounting policies on recognition and measurement of assets and liabilities but has solely entailed a requirement for further disclosures. The accounting policies used in the preparation of the financial statements are consistent with those of last year. In the comparative figures for 2020, certain reclassifications have been made between staff costs and gross profit. With reference to section 86(4) of the Danish Financial Statements Act, no cash flow statement has been prepared. The Company's cash flows are reflected in the consolidated cash flow statement for the higher-ranking parent company Freeze HoldCo ApS. Reporting currency The financial statements are presented in Danish kroner (DKK'000). On initial recognition, transactions denominated in foreign currencies are translated at the exchange rate 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 and payables and other monetary items denominated in foreign currencies are translated at the exchange rate 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 most recent financial statements is recognised in the income statement as financial income or financial expenses. The Company has chosen IAS 11/IAS 18 as interpretation for revenue recognition. Income from the sale of goods for resale and finished goods, is recognised in revenue when the most significant rewards and risks have been transferred to the buyer and provided the income can be measured reliably and payment is expected to be received. Income from the rendering of services is recognised as revenue as the services are rendered. Accordingly, revenue corresponds to the market value of the services rendered during the year (percentage-of-completion method). Income from construction contracts involving a high degree of customisation is recognised as revenue by reference to the stage of completion. Accordingly, revenue corresponds to the market value of the contract work performed during the year (percentage-of-completion method). This method is used where the total income and expenses and the degree of completion of the contract can be measured reliably. Where income from a construction contract cannot be estimated reliably, contract revenue corresponding to the expenses incurred is recognised only in so far as it is probable that such expenses will be recoverable from the counterparty. Revenue is measured at the fair value of the agreed consideration excluding VAT and taxes charged on behalf of third parties. All discounts and rebates granted are recognised in revenue. The items revenue, cost of sales and external expenses have been aggregated into one item in the income statement called gross profit in accordance with section 32 of the Danish Financial Statements Act. Other operating expenses comprise items of a secondary nature relative to the Company's core activities, including losses on the sale of fixed assets. Other external expenses include the year's expenses relating to the Company's core activities, including expenses relating to distribution, sale, advertising, administration, premises, bad debts, payments under operating leases, etc. Staff costs include wages and salaries, including compensated absence and pension to the Company's employees, as well as other social security contributions, etc. The item is net of refunds from public authorities. The item comprises amortisation/depreciation of intangible assets and property, plant and equipment. The basis of amortisation/depreciation, which is calculated as cost less any residual value, is amortised/depreciated on a straight line basis over the expected useful life. The expected useful lives of the assets are as follows: Completed development projects 5 years Goodwill 10 years Fixtures and fittings, other plant and equipment 3-10 years Leasehold improvements 3-20 years Depreciation is based on the residual value of the asset and is reduced by impairment losses, if any. The depreciation period and the residual value are determined at the acquisition date and are reassessed annually. Where the residual value exceeds the carrying amount of the asset, no further depreciation charges are recognised. In the case of changes in the depreciation period or the residual value, the effect on the depreciation charges is recognised prospectively as a change in accounting estimates. Financial income and expenses are recognised in the income statements at the amounts that concern the financial year. Net financials include interest income and expenses as well as allowances and surcharges under the advance-payment-of-tax scheme, etc. Tax for the year includes current tax on the year's expected taxable income and the year's deferred tax adjustments. The portion of the tax for the year that relates to the profit/loss for the year is recognised in the income statement, whereas the portion that relates to transactions taken to equity is recognised in equity. The entity is jointly taxed with other group entities. The total Danish income tax charge is allocated between profit/loss-making Danish entities in proportion to their taxable income (full absorption). Jointly taxed entities entitled to a tax refund are reimbursed by the management company based on the rates applicable to interest allowances, and jointly taxed entities which have paid too little tax pay a surcharge according to the rates applicable to interest surcharges to the management company. Intangible assets include goodwill and development projects are amortised over the expected economic life of the asset. Goodwill is amortised over the expected economic life of the asset, measured by reference to Management’s experience in the individual business segments. Goodwill is amortised on a straight-line basis over the amortisation period, which is 10 years. Intangible assets are measured at cost less accumulated amortisation and impairment losses. Development costs comprise expenses, salaries and amortisation directly or indirectly attributable to development activities. Development projects that are clearly defined and identifiable, where the technical feasibility, sufficient resources and a potential future market or development opportunities areidentifiable and where the Company intends to produce, market or use the project, are recognised as intangible assets provided that the cost can be measured reliably and that there is sufficient assurance that future earnings can cover production costs, selling costs and administrative expenses and development costs. Other development costs are recognised in the income statement as incurred. Development costs that are recognised in the balance sheet are measured at cost less accumulated amortisation and impairment losses. On completion of a development project, development costs are amortised on a straight-line basis over the estimated useful life. The amortisation period is usually 5 years. Property, plant and equipment Items of property, plant and equipment are measured at cost less accumulated depreciation and impairment losses. Cost includes the acquisition price and costs directly related to the acquisition until the time at which the asset is ready for use. Gains or losses are calculated as the difference between the selling price less selling costs and the carrying amount at the date of disposal. Gains and losses from the disposal of property, plant and equipment are recognised in the income statement as other operating income or other operating expenses. The Company has chosen IAS 17 as interpretation for classification and recognition of leases. Leases that do not transfer substantially all the risks and rewards incident to the ownership to the Company are classified as operating leases. Payments relating to operating leases and any other rent agreements are recognised in the income statement over the term of the lease. The Company's aggregate liabilities relating to operating leases and other rent agreements are disclosed under "Contingent liabilities". The carrying amount of intangible assets, property, plant and equipment and investments in subsidiaries is assessed for impairment on an annual basis. Impairment tests are conducted on assets or groups of assets when there is evidence of impairment. The carrying amount of impaired assets is reduced to the higher of the net selling price and the value in use (recoverable amount). The recoverable amount is the higher of the net selling price of an asset and its value in use. The value in use is calculated as the present value of the expected net cash flows from the use of the asset or the group of assets and the expected net cash flows from the disposal of the asset or the group of assets after the end of the useful life. Previously recognised impairment losses are reversed when the reason for recognition no longer exists. Impairment losses on goodwill are not reversed. Inventories are measured at cost in accordance with the FIFO method. Where the net realisable value is lower than cost, inventories are written down to this lower value. The net realisable value of inventories is calculated as the sales amount less costs of completion and expenses required to effect the sale and is determined taking into account marketability, obsolescence and development in the expected selling price. The cost of raw materials and consumables comprises the cost of acquisition plus delivery costs. The cost of finished goods and work in progress includes the cost of raw materials, consumables, direct labour and indirect production overheads. Indirect production overheads include the indirect cost of material and labour as well as maintenance and depreciation of production machinery, buildings and equipment and expenses relating to plant administration and management. Borrowing costs are not recognised in the sales price. Goods for resale are measured at cost, which comprises the cost of acquisition plus delivery costs as well as other expenses directly attributable to the acquisition. Receivables are measured at amortised cost. The Company has chosen IAS 39 as interpretation for impairment of financial receivables. An impairment loss is recognised if there is objective evidence that a receivable or a group of receivables is impaired. If there is objective evidence that an individual receivable has been impaired, an impairment loss is recognised on an individual basis. Impairment losses are calculated as the difference between the carrying amount of the receivables and the present value of the expected cash flows, including the realisable value of any collateral received. The effective interest rate for the individual receivable or portfolio is used as discount rate. Service supplies and contract work in progress for third parties are measured at the market value of the work performed less progress billings. The market value is calculated based on the stage of completion at the balance sheet date and the total expected income from the relevant contract. The stage of completion is calculated based on the expenses incurred relative to the expected total expenses relating to the relevant contract. Where the outcome of contract work in progress cannot be estimated reliably, the market value is measured at the expenses incurred in so far as they are expected to be paid by the purchaser. Where the total expenses relating to the work in progress are expected to exceed the total market value, the expected loss is recognised as a loss-making agreement under "Provisions" and is expensed in the income statement. The value of work in progress less progress billings is classified as assets when the selling price exceeds progress billings and as liabilities when progress billings exceed the market value. Prepayments recognised under "Assets" comprise prepaid expenses regarding subsequent financial reporting years. Reserve for development costs The reserve for development costs comprises recognised development costs. The reserve cannot be used to distribute dividend or cover losses. The reserve will be reduced or dissolved if the recognised development costs are amortised or are no longer part of the Company's operations by a transfer directly to the distributable reserves under equity. Proposed dividends Dividend proposed for the year is recognised as a liability once adopted at the annual general meeting (declaration date). Dividends expected to be distributed for the financial year are presented as a separate item under "Equity". Dividend proposed for the year is recognised as a liability once adopted at the annual general meeting (declaration date). Dividends expected to be distributed for the financial year are presented as a separate item under "Equity". Provisions comprise anticipated expenses relating to warranty commitments, onerous contracts, restructurings, etc. Provisions are recognised when the Company has a legal or constructive obligation at the balance sheet date as a result of a past event and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation. Provisions are measured at net realisable value or at fair value if the obligation is expected to be settled far into the future. Warranty commitments include expenses for remedial action in respect of the contract work within the warranty period of 1-2 years. Provisions for warranty commitments are measured at net realisable value and recognised based on past experience. Provisions that are expected to mature more than one year after the balance sheet date are discounted at average bond yields. Current tax payables and receivables are recognised in the balance sheet as the estimated income tax charge for the year, adjusted for prior-year taxes and tax paid on account. Deferred tax is measured according to the liability method on all temporary differences between the carrying amount and the tax base of assets and liabilities. However, deferred tax is not recognised on temporary differences relating to goodwill which is not deductible for tax purposes and on office premises and other items where temporary differences, apart from business combinations, arise at the date of acquisition without affecting either profit/loss for the year or taxable income. Where alternative tax rules can be applied to determine the tax base, deferred tax is measured based on Management's intended use of the asset or settlement of the liability, respectively. Deferred tax is measured according to the tax rules and at the tax rates applicable at the balance sheet date when the deferred tax is expected to crystallise as current tax. Deferred tax assets are recognised at the expected value of their utilisation; either as a set-off against tax on future income or as a set-off against deferred tax liabilities in the same legal tax entity. Changes in deferred tax due to changes in the tax rate are recognised in the income statement. Financial liabilities are recognised at the date of borrowing at the net proceeds received less transaction costs paid. On subsequent recognition, financial liabilities are measured at amortised cost, corresponding to the capitalised value, using the effective interest rate. Accordingly, the difference between the proceeds and the nominal value is recognised in the income statement over the term of the loan. Other liabilities are measured at net realisable value. Lease liabilities Lease liabilities are measured at the net present value of the remaining lease payments including any guaranteed residual value based on the interest rate implicit in the lease. Prepayments received from customers comprise amounts received from customers prior to the time and date of delivery of the agreed productor completion of the agreed service. The financial ratios stated under "Financial highlights" have been calculated as follows: Operating profit/loss Profit/loss before financial items adjusted for other operating income and other operating expenses Return on assets Profit/loss from operating activites x 100 Average assets Equity ratio Equity, year-end x 100 Total equity and liabilities, year-end Return on equity Profit/loss after tax x 100 Average equity Total remuneration to Management: DKK 1,756 thousand (2020: DKK 2,002 thousand) Completed development projects Completed development projects include the Company’s development of new freezer functions and features with a carrying amount of DKK 2,862 thousand. In Management's opinion, the development progressed as planned. The features were completed and rolled out in 2020-21 and is be amortised over 5 years. Development projects in progress Development projects in progress include the Company’s development of a new freezer and handling system with a carrying amount of DKK 3,167 thousand. The project will be completed in 2022. Management has assessed that there are no indications of impairment in relation to the carrying amount. Prepayments include accrual of expenses relating to subsequent financial years, including insurance policies, subscriptions and trade fair costs, etc. Other contingent liabilities The Company has through credit institutions provided guarantees of DKK 6,010 thousand as well as ordinary warranty for work done. The Company is jointly taxed with its parent, Freeze HoldCo ApS, which acts as management company, and is jointly and severally liable with other jointly taxed group entities for payment of income taxes as well as withholding taxes on interest, royalties and dividends. Rent and lease liabilities include a rent obligation and liabilities under operating leases for cars and IT equipment, totalling DKK 7,456 thousand, with remaining contract terms of 1-4 years. The Company has provided a company charge of DKK 5,500 thousand to credit institutions. As at 31. december 2021, the company charge comprises goodwill, tangible assets, inventories and receivables with a carrying amount of approx. DKK 60,000 thousand. Parties exercising control Related party Domicile Basis for control Procuritas Capital Investors VI AB Biblioteksgatan 3, 11146 Stockholm, Sverige Participating interest Freeze HoldCo ApS Parkvej 5, Dybvad Participating interest Freeze BidCo ApS Parkvej 5, Dybvad Participating interest DSI Dantech A/S Parkvej 5, Dybvad Participating interest Dantech Holding ApS Speditørvej 1, Aalborg Participating interest Information about consolidated financial statements Parent Domicile Requisitioning of the parent company's consolidated financial statements Freeze HoldCo ApS Parkvej 5, Dybvad www.cvr.dk Related party transactions DSI Dantech AAL A/S was engaged in the below related party transactions: DKK'000 2021 2020 Cost of sales 52,718 44,751 Management fee costs 3,233 0 Interests from group enterprises 31 83 Interests to group enterprises 97 35 Dividend distributed 28,720 2,200 Receivables from group enterprises 1,749 1,306 Payables to group enterprises 15,725 5,190 38330284 2021-01-01 2021-12-31 38330284 2021-01-01 38330284 2020-12-31 38330284 2021-12-31 38330284 2020-01-01 38330284 2021-01-01 2021-12-31 1 38330284 2021-01-01 2021-12-31 2 38330284 2021-01-01 2021-12-31 3 38330284 2021-01-01 2021-12-31 1 38330284 2021-01-01 2021-12-31 2 38330284 2021-01-01 2021-12-31 1 38330284 2021-01-01 e:CompletedDevelopmentProjectsMember 38330284 2021-01-01 e:GoodwillMember 38330284 2021-01-01 e:DevelopmentProjectsInProgressAndPrepaymentsForIntangibleAssetsMember 38330284 2021-01-01 2021-12-31 e:DevelopmentProjectsInProgressAndPrepaymentsForIntangibleAssetsMember 38330284 2021-12-31 e:DevelopmentProjectsInProgressAndPrepaymentsForIntangibleAssetsMember 38330284 2021-01-01 2021-12-31 e:GoodwillMember 38330284 2021-12-31 e:GoodwillMember 38330284 2021-01-01 2021-12-31 e:CompletedDevelopmentProjectsMember 38330284 2021-12-31 e:CompletedDevelopmentProjectsMember 38330284 2021-01-01 2021-12-31 e:ProposedExtraordinaryDividendRecognisedInEquityMember 38330284 2020-01-01 2020-12-31 e:ProposedExtraordinaryDividendRecognisedInEquityMember 38330284 2021-01-01 2021-12-31 e:RestOfOtherReservesMember 38330284 2020-01-01 2020-12-31 e:RestOfOtherReservesMember 38330284 2021-01-01 2021-12-31 e:RetainedEarningsMember 38330284 2020-01-01 2020-12-31 e:RetainedEarningsMember 38330284 2021-01-01 e:FixturesFittingsToolsAndEquipmentMember 38330284 2021-01-01 2021-12-31 e:FixturesFittingsToolsAndEquipmentMember 38330284 2021-12-31 e:FixturesFittingsToolsAndEquipmentMember 38330284 2021-01-01 e:LeaseholdImprovementsMember 38330284 2021-01-01 2021-12-31 e:LeaseholdImprovementsMember 38330284 2021-12-31 e:LeaseholdImprovementsMember 38330284 2021-01-01 e:ContributedCapitalMember 38330284 2021-12-31 e:ContributedCapitalMember 38330284 2021-01-01 e:RetainedEarningsMember 38330284 2021-01-01 2021-12-31 e:RetainedEarningsMember 38330284 2021-12-31 e:RetainedEarningsMember 38330284 2021-12-31 e:IntangibleAssetsMember 38330284 2020-12-31 e:IntangibleAssetsMember 38330284 2021-12-31 e:PropertyPlantAndEquipmentMember 38330284 2020-12-31 e:PropertyPlantAndEquipmentMember 38330284 2021-12-31 e:ReceivablesMember 38330284 2020-12-31 e:ReceivablesMember 38330284 2021-12-31 e:TaxLossesMember 38330284 2020-12-31 e:TaxLossesMember 38330284 2020-01-01 2020-12-31 38330284 2021-01-01 2021-12-31 d:TwoYearsAgoMember 38330284 2021-12-31 d:TwoYearsAgoMember 38330284 2021-01-01 2021-12-31 d:ThreeYearsAgoMember 38330284 2021-12-31 d:ThreeYearsAgoMember 38330284 2021-01-01 2021-12-31 d:FourYearsAgoMember 38330284 2021-12-31 d:FourYearsAgoMember 38330284 2021-01-01 2021-12-31 2 38330284 2021-01-01 2021-12-31 2 d:PreviousYearMember 38330284 2021-01-01 2021-12-31 2 d:TwoYearsAgoMember 38330284 2021-01-01 2021-12-31 2 d:ThreeYearsAgoMember 38330284 2021-01-01 2021-12-31 2 d:FourYearsAgoMember 38330284 2021-01-01 2021-12-31 5 38330284 2021-01-01 2021-12-31 5 d:PreviousYearMember 38330284 2021-01-01 2021-12-31 5 d:TwoYearsAgoMember 38330284 2021-01-01 2021-12-31 5 d:ThreeYearsAgoMember 38330284 2021-01-01 2021-12-31 5 d:FourYearsAgoMember 38330284 2021-01-01 2021-12-31 6 38330284 2021-01-01 2021-12-31 6 d:PreviousYearMember 38330284 2021-01-01 2021-12-31 6 d:TwoYearsAgoMember 38330284 2021-01-01 2021-12-31 6 d:ThreeYearsAgoMember 38330284 2021-01-01 2021-12-31 6 d:FourYearsAgoMember 38330284 2021-12-31 e:ProvisionsMember 38330284 2020-12-31 e:ProvisionsMember 38330284 2021-01-01 2021-12-31 24 38330284 2021-01-01 2021-12-31 24 d:PreviousYearMember 38330284 2021-01-01 2021-12-31 24 d:TwoYearsAgoMember 38330284 2021-01-01 2021-12-31 24 d:ThreeYearsAgoMember 38330284 2021-01-01 2021-12-31 24 d:FourYearsAgoMember 38330284 2021-01-01 e:ReserveForDevelopmentExpenditureMember 38330284 2021-01-01 2021-12-31 e:ReserveForDevelopmentExpenditureMember 38330284 2021-12-31 e:ReserveForDevelopmentExpenditureMember iso4217:DKK xbrli:pure