30898400 2024-01-01 2024-12-31 30898400 2024-01-01 2024-12-31 auditor_1 30898400 2024-01-01 2024-12-31 auditor_2 30898400 2024-01-01 2024-12-31 memberOfBoardIdentifier_1 30898400 2024-01-01 2024-12-31 memberOfBoardIdentifier_1 30898400 2024-01-01 2024-12-31 memberOfBoardIdentifier_2 30898400 2024-01-01 2024-12-31 memberOfBoardIdentifier_3 30898400 2023-01-01 2023-12-31 30898400 2024-12-31 30898400 2023-12-31 30898400 2023-12-31 fsa:ContributedCapitalMember 30898400 2023-12-31 fsa:RetainedEarningsMember 30898400 2024-01-01 2024-12-31 fsa:ContributedCapitalMember 30898400 2024-01-01 2024-12-31 fsa:RetainedEarningsMember 30898400 2024-12-31 fsa:ContributedCapitalMember 30898400 2024-12-31 fsa:RetainedEarningsMember 30898400 2023-12-31 fsa:LandAndBuildingsMember 30898400 2023-12-31 fsa:PlantAndMachineryMember 30898400 2023-12-31 fsa:PropertyPlantAndEquipmentInProgressAndPrepaymentsForPropertyPlantAndEquipmentMember 30898400 2024-01-01 2024-12-31 fsa:LandAndBuildingsMember 30898400 2024-01-01 2024-12-31 fsa:PlantAndMachineryMember 30898400 2024-01-01 2024-12-31 fsa:PropertyPlantAndEquipmentInProgressAndPrepaymentsForPropertyPlantAndEquipmentMember 30898400 2024-12-31 fsa:LandAndBuildingsMember 30898400 2024-12-31 fsa:PlantAndMachineryMember 30898400 2024-12-31 fsa:PropertyPlantAndEquipmentInProgressAndPrepaymentsForPropertyPlantAndEquipmentMember iso4217:DKK pure Årsrapport 2024-01-01 2023-01-01 2024-12-31 2023-12-31 2025-06-25 30898400 2025-06-25 2007-09-17 Reporting class B KPMG P/S DK-2100 København Ø Dampfærgevej 28 30898400 Auditor's report on audited financial statements Hellerup 2025-06-25 PricewaterhouseCoopers 33771231 PricewaterhouseCoopers 33771231 true Mette Hee Christiansen The Board of Directors and the Executive Board have today discussed and approved the annual report for DANTONIT A/S for the financial year 1 January - 31 December 2024. The annual report has been prepared in accordance with the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the Company's assets, liabilities and financial position at 31 December 2024 and of the results of the Company's operations for the financial year 1 January - 31 December 2024.Further, in our opinion, the Management's review gives a fair review of the matters discussed in the Management's review. We recommend that the annual report be approved at the annual general meeting. Søren Graae Director Grete Aspelund Chairman Søren Graae Mette Hee Christensen Independent Auditor’s Report To the shareholders of DANTONIT A/S Opinion In our opinion, the Financial Statements give a true and fair view of the financial position of the Company at 31 December 2024, and of the results of the Company’s operations for the financial year 1 January - 31 December 2024 in accordance with the Danish Financial Statements Act. We have audited the Financial Statements of DANTONIT A/S for the financial year 1 January - 31 December 2024, which comprise income statement, balance sheet, statement of changes in equity and notes, including a summary of significant accounting policies (“the Financial Statements”). Basis for Opinion We conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the “Auditor’s responsibilities for the audit of the Financial Statements” section of our report. We are independent of the Company in accordance with the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Statement on Management’s ReviewManagement is responsible for Management’s Review.Our opinion on the Financial Statements does not cover 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 Management’s Review and, in doing so, consider whether 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 Management’s Review provides the information required under the Danish Financial Statements Act. Based on the work we have performed, in our view, Management’s Review is in accordance with the Financial Statements and has been prepared in accordance with the requirements of the Danish Financial Statements Act. We did not identify any material misstatement in Management’s Review. Management’s responsibilities for the Financial StatementsManagement is responsible for the preparation of financial statements that give a true and fair view in accordance with the Danish Financial Statements Act, and for such internal control 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. Auditor’s responsibilities for the audit of the Financial StatementsOur 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 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 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. Allan Knudsen mne29465 Qasam Hussain mne44159 DANTONIT A/S Energivej 30 DK-5260 Odense S Odense Principal activities The Company's main activities consist of operating a business that manages the extraction, processing and sale of the raw material Bentonite, as well as carrying out other activities that are naturally related to this. Development in activities and financial position The Company's income statement for 2024 shows a profit of DKK 969 thousand as against a profit of DKK 695 thousand in 2023. Equity in the Company's balance sheet at 31 December 2024 stood at DKK 2,862 thousand as against DKK 1,893 thousand at 31 December 2023. The management and the board of directors expect a result of approximately the same level in 2025. Events after the balance sheet date No events have occurred after the balance sheet date of material importance to the annual report for 2024. 2733000 2815000 1009000 1296000 1724000 1519000 254000 220000 735000 847000 1243000 892000 274000 197000 969000 695000 969000 695000 2507000 0 613000 0 1352000 0 2367000 0 3462000 0 5829000 4897000 1954000 0 7455000 0 331000 0 755000 0 19000 0 20815000 20203000 600000 600000 2262000 1293000 2862000 1893000 502000 769000 502000 769000 6000000 8000000 2857000 2474000 6011000 4325000 275000 197000 2308000 2545000 11451000 9541000 17451000 17541000 20815000 20203000 600000 1293000 0 969000 600000 2262000 The annual report of DANTONIT A/S for 2024 has been prepared in accordance with the provisions applying to reporting class B entities under the Danish Financial Statements Act with opt-in from higher reporting classes.The accounting policies used in the preparation of the financial statements are consistent with those of last year.The annual report is presented in TDKK. Recognition and measurement Revenues are recognised in the income statement as earned. Furthermore, value adjustments of financial assets and liabilities measured at fair value or amortised cost are recognised. Moreover, all expenses incurred to achieve the earnings for the year are recognised in the income statement, including depreciation, amortisation, impairment losses and provisions as well as reversals due to changed accounting estimates of amounts that have previously been recognised in the income statement. Assets are recognised in the balance sheet when it is probable that future economic benefits attributable to the asset will flow to the Company, and the value of the asset can be measured reliably. Liabilities are recognised in the balance sheet when it is probable that future economic benefits will flow out of the Company, and the value of the liability can be measured reliably. Assets and liabilities are initially measured at cost. Subsequently, assets and liabilities are measured as described for each item below. Foreign currency translation On initial recognition, transactions denominated in foreign currencies are translated at the exchange rates at the transaction date. Foreign exchange differences arising between the exchange rates at the transaction date and the date of payment are recognised in the income statement as financial income or financial expenses. Receivables, payables and other monetary items denominated in foreign currencies are translated at the exchange rates at the balance sheet date. The difference between the exchange rates at the balance sheet date and the date at which the receivable or payable arose or was recognised in the latest financial statements is recognised in the income statement as financial income or financial expenses. Gross profit With reference to section 32 of the Danish Financial Statements Act, gross profit is calculated as a summary of revenue, cost of sales and other external costs. Revenue Income is recognised in revenue when delivery and transfer of risk to the buyer have taken place, and the income may be measured reliably and is expected to be received. Revenue is measured excluding VAT, taxes, and discounts related to the sale. Revenue is measured at the fair value of the agreed consideration excluding VAT and taxes charged on behalf of third parties. All discounts granted are deducted from revenue. Other operating income Other operating income comprises items secondary to the activities of the Company, including gains on the disposal of property, plant and equipment. Other external costs Other external costs comprise costs for distribution and sales costs, costs for advertising, administrative expenses, costs of premises, bad debts, etc. Financial income and expenses Financial income and expenses comprise interest income and expense. Tax on profit for the year The Company is subject to the Danish rules on mandatory joint taxation of the NCC Group's Danish companies. NCC Danmark A/S is the administrative company for the joint taxation and, as a result, settles all corporate tax payments with the tax authorities. The current Danish corporate tax is allocated through the settlement of the joint taxation contribution among the jointly taxed companies based on their taxable incomes. In this context, companies with tax losses receive joint taxation contributions from companies that have been able to use these losses to reduce their own taxable income. The jointly taxed companies are part of the advance tax payment scheme. The tax for the year, which consists of the current year's tax, the joint taxation contribution for the year, and the movement in deferred tax, is recognized in the income statement for the portion attributable to the year's result, and directly in equity for the portion attributable to items directly in equity. Property, plant and equipmentLand and buildings and plant and machinery are measured at cost less accumulated depreciation and impairment losses.Cost comprises the purchase price and any costs directly attributable to the acquisition until the date on which the asset is available for use. Indirect production overheads and borrowing costs are not recognised in cost.Where individual components of an item of property, plant and equipment have different useful lives, they are accounted for as separate items, which are depreciated separately.The basis of depreciation is cost less any projected residual value after the end of the useful life. Depreciation is provided on a straight-line basis over the estimated useful life. The estimated useful lives are as follows:Buildings10-40 yearsPlant and machinery3-12 yearsThe useful life and residual value are reassessed annually. Changes are treated as accounting estimates, and the effect on depreciation is recognised prospectively.Land is not depreciated.Fixed assets under construction are recognised and measured at cost at the balance sheet date. Upon entry into service, the cost is transferred to the relevant group of property, plant and equipment. Gains and losses on the disposal of property, plant and equipment are stated as the difference between the selling price less selling costs and the carrying amount at the date of disposal. Gains and losses are recognised in the income statement as other operating income or other operating costs, respectively. Inventories Inventories are measured at cost in accordance with the average cost method method. Where the net realisable value is lower than cost, inventories are written down to this lower value. Goods for resale and raw materials and consumables are measured at cost, comprising purchase price plus delivery costs. Finished goods and work in progress are measured at cost, comprising the cost of raw materials, consumables, direct wages and salaries and indirect production overheads. Borrowing costs are not recognised in cost. The net realisable value of inventories is calculated as the sales amount less costs of completion and costs necessary to make the sale and is determined taking into account marketability, obsolescence and development in expected selling price. Receivables Receivables are measured in the balance sheet at amortised cost. Corporation tax and deferred tax Current tax payable and receivable is recognised in the balance sheet as tax computed on the taxable income for the year, adjusted for tax on the taxable income of prior years and for tax paid on account. Amounts due as receivable group taxation contributions are recognized in the parent company's balance sheet under intercompany balances. Deferred tax is measured based on the tax rules and tax rates that, according to the legislation in effect on the balance sheet date, will apply when the deferred tax is expected to be realized as current tax. Deferred tax is measured using the balance sheet liability method for all temporary differences between the accounting and tax values of assets and liabilities. However, deferred tax is not recognized on temporary differences related to non-tax-deductible goodwill and other items where temporary differences arise at the acquisition date without affecting profit or taxable income. In cases where the tax value can be determined according to different tax rules, deferred tax is measured based on the planned use of the asset or the settlement of the liability as determined by management. Deferred tax assets, including the tax value of carryforward tax losses, are recognized under other long-term assets at the value at which they are expected to be used, either by offsetting against future taxable income or by offsetting deferred tax liabilities within the same legal tax entity and jurisdiction. Adjustments to deferred tax are made regarding eliminations of unrealized intra-group profits and losses. Changes in deferred tax due to changes in tax rates are recognized in the income statement. Prepayments Prepayments comprise prepayment of costs incurred relating to subsequent financial years. Provisions Provisions are recognized when the company, as a result of a past event, has a legal or constructive obligation, and it is probable that settling the obligation will result in an outflow of the company’s economic resources. Provisions are measured at their net realizable value. If the settlement of the obligation is expected to occur far in the future, the obligation is measured at its fair value. Liabilities other than provisions Liabilities are measured at amortised cost. 0 0 -254000 -220000 735000 847000 379000 197000 -105000 0 8544000 23518000 0 0 0 1352000 -689000 -141000 0 7855000 23377000 1352000 -5589000 -22265000 0 -392000 -617000 0 633000 118000 0 -5348000 -22764000 0 2507000 613000 1352000 Deferred tax at 1 January 226226Deferred tax adjustment for the year in the income statement 1050Property, plant and equipment 331226 Contingent liabilitiesThe Company is subject to the Danish rules on mandatory joint taxation of the NCC Group's Danish companies, where NCC Danmark A/S is the administrative company. The Danish companies in the group are jointly liable for taxes on the income subject to Danish group taxation, etc. The Danish companies in the group are also jointly liable for Danish withholding taxes in the form of dividend tax, royalty tax, and interest tax. Any subsequent adjustments to corporate taxes and withholding taxes may result in the Company’s liability being a higher amount. Control NCC Industry Nordic AB, 170 67 Solna, Sweden NCC Industry Nordic AB holds the majority of the contributed capital in the Company. DANTONIT A/S is part of the consolidated financial statements of NCC AB, Herrjärva torg 4, 170 80 Solna, Sweden, which is the smallest group, in which the Company is included as a subsidiary. The consolidated financial statements of NCC AB can be downloaded at http://www.ncc.se/en/about-ncc/investor-relations/annual-reports/