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fsa:DepositsLongtermInvestmentsAndReceivablesMember 87573613 2022-01-01 2022-12-31 cmn:ConsolidatedMember 0 87573613 2022-01-01 2022-12-31 cmn:ConsolidatedMember 0 87573613 2022-01-01 2022-12-31 cmn:ConsolidatedMember 1 87573613 2022-01-01 2022-12-31 cmn:ConsolidatedMember 2 87573613 2022-01-01 2022-12-31 cmn:ConsolidatedMember 0 87573613 2022-01-01 2022-12-31 cmn:ConsolidatedMember 1 iso4217:DKK xbrli:pure 2022-01-01 2022-12-31 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Hoved- og nøgletal</td></tr><tr><td colspan="1">Selskabets udvikling kan beskrives ved følgende hoved- og nøgletal</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Financial Highlights</td></tr><tr><td colspan="1">The development of the Company can be described by the following financial highlights</td></tr></table> 151 0.171 0.1026 0.0447 0.0947 0.146 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="6">Forklaring af nøgletal</td></tr><tr><td colspan="6">Bruttomargin</td></tr><tr><td /><td /><td /><td /><td>=</td><td colspan="5">Bruttoresultat x 100 / Nettoomsætning</td></tr><tr><td colspan="6">Overskudsgrad</td></tr><tr><td /><td /><td /><td /><td>=</td><td colspan="7">Resultat før finansielle poster x 100 / Nettoomsætning</td></tr><tr><td colspan="6">Afkastningsgrad</td></tr><tr><td /><td /><td /><td /><td>=</td><td colspan="7">Resultat før finansielle poster x 100 / Samlede aktiver</td></tr><tr><td colspan="6">Soliditetsgrad</td></tr><tr><td /><td /><td /><td /><td>=</td><td colspan="7">Egenkapital ultimo x 100 / Samlede aktiver</td></tr><tr><td colspan="6">Forrentning af egenkapital</td></tr><tr><td /><td /><td /><td /><td>=</td><td colspan="7">Årets resultat x 100 / Gennemsnitlig egenkapital</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="6">Explanation of Ratios</td></tr><tr><td colspan="6">Gross margin</td></tr><tr><td /><td /><td /><td /><td>=</td><td colspan="5">Gross profit/(loss) x 100 / Revenue</td></tr><tr><td colspan="6">Net profit ratio</td></tr><tr><td /><td /><td /><td /><td>=</td><td colspan="7">Profit/(loss) before financials x 100 / Revenue</td></tr><tr><td colspan="6">Return on net assets</td></tr><tr><td /><td /><td /><td /><td>=</td><td colspan="7">Profit(loss) before financials x 100 / Total assets</td></tr><tr><td colspan="6">Solvency ratio</td></tr><tr><td /><td /><td /><td /><td>=</td><td colspan="7">Equity at year end x 100 / Total assets</td></tr><tr><td colspan="6">Return on equity</td></tr><tr><td /><td /><td /><td /><td>=</td><td colspan="7">Profit of the year x 100 / Average equity</td></tr></table> 1905808 1579877 325931 58366 71992 195573 6449 22935 179087 31574 147514 543000 1143680 -52648 1238546 22040 7210 15745 1207970 -1773469 507389 6958 -1259122 -1580507 2173220 49713 -1440 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="16" align="left" valign="middle" ><b>Noter</b></td></tr><tr><td colspan="16"></td></tr><tr><td width="2%" ></td><td width="15%" ></td><td width="1%" ></td><td width="9%" ></td><td width="1%" ></td><td width="9%" ></td><td width="1%" ></td><td width="9%" ></td><td width="1%" ></td><td width="10%" align="center" valign="middle" >2022</td><td width="1%" ></td><td width="10%" align="center" valign="middle" >2021</td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="19%" ></td></tr><tr><td colspan="16"></td></tr><tr><td width="2%" ></td><td width="15%" ></td><td width="1%" ></td><td width="9%" ></td><td width="1%" ></td><td width="9%" ></td><td width="1%" ></td><td width="9%" ></td><td width="1%" ></td><td width="10%" colspan="1" align="center" valign="middle" >DKK ’000</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >DKK ’000</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" ></td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="19%" colspan="1" align="center" valign="middle" ></td></tr><tr><td width="2%" ></td><td width="98%" colspan="15" align="left" valign="middle" ><b>Segmentoplysninger</b></td></tr><tr><td width="2%" ></td><td width="98%" colspan="15" align="left" valign="middle" ><b>Revenue</b></td></tr><tr><td colspan="16"></td></tr><tr><td width="2%" ></td><td width="98%" colspan="15" align="left" valign="middle" >Nettoomsætningens fordeling på markeder</td></tr><tr><td width="2%" ></td><td width="98%" colspan="15" align="left" valign="middle" >Segmentation of revenue on geographical area</td></tr><tr><td colspan="16"></td></tr><tr><td width="2%" ></td><td width="46%" colspan="8" align="left" valign="middle" >Danmark</td><td width="10%" align="right" valign="middle" ><b> 1.905.808 </b></td><td width="1%" ></td><td width="10%" align="right" valign="middle" ><b> 1.716.336 </b></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="19%" ></td></tr><tr><td colspan="16"></td></tr><tr><td width="2%" ></td><td width="98%" colspan="15" align="left" valign="middle" >Denmark</td></tr><tr><td colspan="16"></td></tr><tr><td width="2%" ></td><td width="98%" colspan="15" align="left" valign="middle" >Nettoomsætningens fordeling på aktiviteter</td></tr><tr><td width="2%" ></td><td width="98%" colspan="15" align="left" valign="middle" >Segmentation of revenue on activity</td></tr><tr><td colspan="16"></td></tr><tr><td width="2%" ></td><td width="46%" colspan="8" align="left" valign="middle" >Indtægter ved indgåelse af leasingaftaler</td><td width="10%" align="right" valign="middle" > 1.791.614 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 1.601.903 </td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="19%" ></td></tr><tr><td width="2%" ></td><td width="98%" colspan="15" align="left" valign="middle" >Income from lease agreements</td></tr><tr><td width="2%" ></td><td width="46%" colspan="8" align="left" valign="middle" >Nettogevinst/-tab ved salg af brugte biler</td><td width="10%" align="right" valign="middle" > 114.194 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 114.432 </td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="19%" ></td></tr><tr><td width="2%" ></td><td width="98%" colspan="15" align="left" valign="middle" >Net profit/loss from the sale of used cars</td></tr><tr><td colspan="16"></td></tr><tr><td width="2%" ></td><td width="46%" colspan="8" align="left" valign="middle" >nettoomsætning i alt</td><td width="10%" align="right" valign="middle" ><b> 1.905.808 </b></td><td width="1%" ></td><td width="10%" align="right" valign="middle" ><b> 1.716.336 </b></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="19%" ></td></tr><tr><td colspan="16"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="15" align="left" valign="middle" >Nærtstående parter</td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Kapitalandele i tilknyttede virksomheder specificeres således: (DKK 1.000)</td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Investments in group enterprices are specified as follows</td></tr><tr><td colspan="15"></td></tr><tr><td width="16%" colspan="2" align="left" valign="middle" >Navn</td><td width="10%" colspan="1" align="center" valign="middle" >Hjemsted</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >Ejerandel</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >Selskabs-</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >Egen-</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >Årets</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" ></td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="18%" colspan="1" align="center" valign="middle" ></td></tr><tr><td width="15%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" colspan="1" align="center" valign="middle" >i %</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >kapital</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >kapital</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >resultat</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" ></td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="18%" colspan="1" align="center" valign="middle" ></td></tr><tr><td width="16%" colspan="2" align="left" valign="middle" >Name</td><td width="10%" colspan="1" align="center" valign="middle" >registered</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >% of</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >Share</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >Equity</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >Profit for</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" ></td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="18%" colspan="1" align="center" valign="middle" ></td></tr><tr><td width="15%" ></td><td width="1%" ></td><td width="10%" colspan="1" align="center" valign="middle" >office</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >ownership</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >capital</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" ></td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >the year</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" ></td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="18%" colspan="1" align="center" valign="middle" ></td></tr><tr><td colspan="15"></td></tr><tr><td width="16%" colspan="2" align="left" valign="middle" >NF Fleet A/S</td><td width="11%" colspan="2" align="left" valign="middle" >Høje Taastrup</td><td width="10%" align="right" valign="middle" > 80 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 13.000 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 103.000 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 41.498 </td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="18%" ></td></tr><tr><td colspan="15"></td></tr><tr><td width="15%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" colspan="1" align="center" valign="middle" >Egen-</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >Resultat</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >Årets</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" ></td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="18%" colspan="1" align="center" valign="middle" ></td></tr><tr><td width="15%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" colspan="1" align="center" valign="middle" >kapital</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >før skat</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >resultat</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" ></td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="18%" colspan="1" align="center" valign="middle" ></td></tr><tr><td width="15%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" colspan="1" align="center" valign="middle" >Equity</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >Profit</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >Profit for</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" ></td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="18%" colspan="1" align="center" valign="middle" ></td></tr><tr><td width="15%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" colspan="1" align="center" valign="middle" >before tax</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >the year</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" ></td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="18%" colspan="1" align="center" valign="middle" ></td></tr><tr><td colspan="15"></td></tr><tr><td width="38%" colspan="6" align="left" valign="middle" >ALD Automotive A/S´s andel</td><td width="10%" align="right" valign="middle" > 82.400 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 38.876 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 33.198 </td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="18%" ></td></tr><tr><td colspan="15"></td></tr><tr><td width="15%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" align="center" valign="middle" >2022</td><td width="1%" ></td><td width="10%" align="center" valign="middle" >2021</td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="18%" ></td></tr><tr><td colspan="15"></td></tr><tr><td width="15%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" colspan="1" align="center" valign="middle" >DKK ’000</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >DKK ’000</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" ></td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="18%" colspan="1" align="center" valign="middle" ></td></tr></table> 3931 2518 22386 548 19903 11533 137 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="15" align="left" valign="middle" ><b>Materielle anlægsaktiver og varebeholdninger</b></td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" ><b>Property, plant and equipment and inventory</b></td></tr><tr><td colspan="15"></td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Regnskabsårets investeringer i og afskrivninger på materielle anlægsaktiver samt</td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >varebeholdninger specificeres således</td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Investments in and depreciation of property, plant and equipment and inventory are specified as follows</td></tr><tr><td colspan="15"></td></tr><tr><td width="15%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" colspan="1" align="center" valign="middle" >Ejendomme</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >Leasing aktiver</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >Driftsmateriel og inventar</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="18%" colspan="1" align="center" valign="middle" >Varelager</td></tr><tr><td width="15%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" colspan="1" align="center" valign="middle" >Properties</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >Lease assets</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >Fixtures, fittings and equipment</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="18%" colspan="1" align="center" valign="middle" >Inventories</td></tr><tr><td colspan="15"></td></tr><tr><td width="15%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" colspan="1" align="center" valign="middle" >DKK ’000</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >DKK ’000</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >DKK ’000</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="18%" colspan="1" align="center" valign="middle" >DKK ’000</td></tr><tr><td colspan="15"></td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" >Kostpris 1. januar 2022</td><td width="10%" align="right" valign="middle" > 25.027 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 5.593.157 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 27.670 </td><td width="1%" ></td><td width="18%" align="right" valign="middle" > 80.702 </td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Cost at 1 January</td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" >Tilgang</td><td width="10%" align="right" valign="middle" > 13.701 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 1.705.697 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 1.561 </td><td width="1%" ></td><td width="18%" align="right" valign="middle" > 478.286 </td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Additions</td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" >Afgang</td><td width="10%" align="right" valign="middle" > - </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > - </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > - </td><td width="1%" ></td><td width="18%" align="right" valign="middle" > (1.756.436)</td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Disposals</td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" >Overført i året</td><td width="10%" align="right" valign="middle" > - </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > (1.307.184)</td><td width="1%" ></td><td width="10%" align="right" valign="middle" > - </td><td width="1%" ></td><td width="18%" align="right" valign="middle" > 1.307.184 </td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Transfers</td></tr><tr><td colspan="15"></td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" ><b>Kostpris 31. december 2022</b></td><td width="10%" align="right" valign="middle" ><b> 38.729 </b></td><td width="1%" ></td><td width="10%" align="right" valign="middle" ><b> 5.991.670 </b></td><td width="1%" ></td><td width="10%" align="right" valign="middle" ><b> 29.232 </b></td><td width="1%" ></td><td width="18%" align="right" valign="middle" ><b> 109.735 </b></td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" ><b>Cost at 31 December</b></td></tr><tr><td colspan="15"></td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" >Afskrivninger 1. januar 2022</td><td width="10%" align="right" valign="middle" > 13.970 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 2.023.011 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 24.272 </td><td width="1%" ></td><td width="18%" align="right" valign="middle" > 4.338 </td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Depreciation at 1 January</td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" >Af- og nedskrivninger</td><td width="10%" align="right" valign="middle" > 5.051 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 974.973 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 4.300 </td><td width="1%" ></td><td width="18%" align="right" valign="middle" > (172)</td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Depreciation and write down</td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" >Afgang</td><td width="10%" align="right" valign="middle" > - </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > - </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > - </td><td width="1%" ></td><td width="18%" align="right" valign="middle" > (777.730)</td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Disposals</td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" >Overført i året</td><td width="10%" align="right" valign="middle" > - </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > (777.730)</td><td width="1%" ></td><td width="10%" align="right" valign="middle" > - </td><td width="1%" ></td><td width="18%" align="right" valign="middle" > 777.730 </td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Transfers</td></tr><tr><td colspan="15"></td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" ><b>Afskrivninger 31. december 2022</b></td><td width="10%" align="right" valign="middle" ><b> 19.020 </b></td><td width="1%" ></td><td width="10%" align="right" valign="middle" ><b> 2.220.254 </b></td><td width="1%" ></td><td width="10%" align="right" valign="middle" ><b> 28.572 </b></td><td width="1%" ></td><td width="18%" align="right" valign="middle" ><b> 4.166 </b></td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" ><b>Depreciation at 31 December</b></td></tr><tr><td colspan="15"></td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" ><b>Regnskabsmæssig</b></td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" ><b>værdi 31. december 2022</b></td><td width="10%" align="right" valign="middle" ><b> 19.708 </b></td><td width="1%" ></td><td width="10%" align="right" valign="middle" ><b> 3.771.416 </b></td><td width="1%" ></td><td width="10%" align="right" valign="middle" ><b> 660 </b></td><td width="1%" ></td><td width="18%" align="right" valign="middle" ><b> 105.569 </b></td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" ><b>Carrying amount at 31 December</b></td></tr><tr><td colspan="15"></td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Af- og nedskrivninger på materielle anlægsaktiver er omkostningsført således</td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Depreciation and writedown of property, plant and equipment are expensed as follows</td></tr><tr><td colspan="15"></td></tr><tr><td width="15%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" align="center" valign="middle" >2022</td><td width="1%" ></td><td width="18%" align="center" valign="middle" >2021</td></tr><tr><td colspan="15"></td></tr><tr><td width="15%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" colspan="1" align="center" valign="middle" >DKK ’000</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="18%" colspan="1" align="center" valign="middle" >DKK ’000</td></tr><tr><td colspan="15"></td></tr><tr><td width="71%" colspan="12" align="left" valign="middle" >Produktionsomkostninger</td><td width="10%" align="right" valign="middle" > 974.973 </td><td width="1%" ></td><td width="18%" align="right" valign="middle" > 956.336 </td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Production costs</td></tr><tr><td width="71%" colspan="12" align="left" valign="middle" >Administrationsomkostninger</td><td width="10%" align="right" valign="middle" > 9.351 </td><td width="1%" ></td><td width="18%" align="right" valign="middle" > 10.156 </td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Administrative expenses</td></tr><tr><td width="71%" colspan="12" align="left" valign="middle" >Varelager nedskrivning</td><td width="10%" align="right" valign="middle" > (172)</td><td width="1%" ></td><td width="18%" align="right" valign="middle" > 4.338 </td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Stock writedown</td></tr><tr><td colspan="15"></td></tr><tr><td width="15%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" align="right" valign="middle" ><b> 984.152 </b></td><td width="1%" ></td><td width="18%" align="right" valign="middle" ><b> 970.830 </b></td></tr><tr><td colspan="15"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="15" align="left" valign="middle" ><b>Hensættelse til udskudt skat</b></td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" ><b>Provision for deferred tax</b></td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Hensættelsen til udskudt skat specificeres således</td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >The provision for deferred tax is specified as follows</td></tr><tr><td colspan="15"></td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" >Anlægsaktiver m.v.</td><td width="10%" align="right" valign="middle" > 154.403 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 132.557 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 120.879 </td><td width="1%" ></td><td width="18%" align="right" valign="middle" > 106.724 </td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Property, plant and equipment</td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" >Varebeholdninger</td><td width="10%" align="right" valign="middle" > (4.167)</td><td width="1%" ></td><td width="10%" align="right" valign="middle" > (4.241)</td><td width="1%" ></td><td width="10%" align="right" valign="middle" > (4.167)</td><td width="1%" ></td><td width="18%" align="right" valign="middle" > (4.241)</td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Inventories</td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" >Tilgodehavender fra salg og tjenesteydelser</td><td width="10%" align="right" valign="middle" > (3.918)</td><td width="1%" ></td><td width="10%" align="right" valign="middle" > (3.667)</td><td width="1%" ></td><td width="10%" align="right" valign="middle" > (2.768)</td><td width="1%" ></td><td width="18%" align="right" valign="middle" > (2.674)</td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Trade receivables</td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" >Periodeafgrænsningsposter</td><td width="10%" align="right" valign="middle" > (58.876)</td><td width="1%" ></td><td width="10%" align="right" valign="middle" > (48.740)</td><td width="1%" ></td><td width="10%" align="right" valign="middle" > (42.053)</td><td width="1%" ></td><td width="18%" align="right" valign="middle" > (35.361)</td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Deferred income</td></tr><tr><td colspan="15"></td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" ><b>hensættelse til udskudt skat i alt</b></td><td width="10%" align="right" valign="middle" ><b> 87.442 </b></td><td width="1%" ></td><td width="10%" align="right" valign="middle" ><b> 75.909 </b></td><td width="1%" ></td><td width="10%" align="right" valign="middle" ><b> 71.890 </b></td><td width="1%" ></td><td width="18%" align="right" valign="middle" ><b> 64.449 </b></td></tr><tr><td colspan="15"></td></tr><tr><td width="15%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" align="center" valign="middle" >2022</td><td width="1%" ></td><td width="10%" align="center" valign="middle" >2021</td><td width="1%" ></td><td width="10%" align="center" valign="middle" >2022</td><td width="1%" ></td><td width="18%" align="center" valign="middle" >2021</td></tr><tr><td colspan="15"></td></tr><tr><td width="15%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" colspan="1" align="center" valign="middle" >DKK ’000</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >DKK ’000</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >DKK ’000</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="18%" colspan="1" align="center" valign="middle" >DKK ’000</td></tr><tr><td colspan="15"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Langfristede gældsforpligtelser</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Long-term debt</b></td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Afdrag, der forfalder inden for 1 år, er opført under kortfristet gæld.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Instalments falling due within 1 year are included in short-term debt.</td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Hele selskabets langfristede gæld forfalder inden for 5 år.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The Company's entire long-term debt falls due within 5 years.</td></tr><tr><td colspan="1"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Eventualforpligtigelser</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Contingent liabilities</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Koncern/Group</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >I henhold til lov om forholdsmæssig betaling af registreringsafgift gældende for leasing er der udskudt betaling på DKK 1.5 mia. Hvorvidt beløbet falder til betaling afhænger af afhændelse af køretøjet.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >According to regulation on partly payment of the registration tax for leasing payment of BDKK 1.5 has been postponed. The payment of this amount depends on termination of the vehicle.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Selskabet sambeskattes og fungerer som administrationsselskab. Selskabet hæfter derfor ifølge selskabsskattelovens regler herom fra og med 1. juli 2012 for eventuelle forpligtigelser til at indeholde kildeskat på renter, royalties og udbytter for de sambeskattede selskaber.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The company is joint taxed and is administration company. The company is as a result liable according to the Danish Tax Law from July 1st 2012 for debt, tax on interest, royalties and dividend for the joint taxed companies.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Moderselskab/Parent</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >I henhold til lov om forholdsmæssig betaling af registreringsafgift gældende for leasing er der udskudt betaling på DKK 1.1 mia. Hvorvidt beløbet falder til betaling afhænger af afhændelse af køretøjet.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >According to regulation on partly payment of the registration tax for leasing payment of BDKK 1.1 has been postponed. The payment of this amount depends on termination of the vehicle.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Selskabet sambeskattes og fungerer som administrationsselskab. Selskabet hæfter derfor ifølge selskabsskattelovens regler herom fra og med 1. juli 2012 for eventuelle forpligtigelser til at indeholde kildeskat på renter, royalties og udbytter for de sambeskattede selskaber.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The company is joint taxed and is administration company. The company is as a result liable according to the Danish Tax Law from July 1st 2012 for debt, tax on interest, royalties and dividend for the joint taxed companies.</td></tr><tr><td colspan="1"></td></tr></table> 93217 7920 1821 102958 896 896 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="15"></td></tr><tr><td width="15%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" align="center" valign="middle" >2022</td><td width="1%" ></td><td width="10%" align="center" valign="middle" >2021</td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="18%" ></td></tr><tr><td colspan="15"></td></tr><tr><td width="15%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" colspan="1" align="center" valign="middle" >DKK ’000</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >DKK ’000</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" ></td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="18%" colspan="1" align="center" valign="middle" ></td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" ><b>Reguleringer (pengestrømsopgørelsen)</b></td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" ><b>Adjustments (cash flow statement)</b></td></tr><tr><td colspan="15"></td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" >Årets afskrivninger på immaterielle og materielle anlægsaktiver</td><td width="10%" align="right" valign="middle" > 1.099.298 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 879.512 </td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="18%" ></td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >inklusive avance og tab ved salg af anlægsaktiver</td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Depreciation of intangible assets and property, plant and equipment</td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >for the year including gain and loss on sale of fixed assets</td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" >Øvrige driftsposter netto</td><td width="10%" align="right" valign="middle" > 1.453 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 1.003 </td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="18%" ></td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Other net operating items</td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" >Andel i tilknyttede virksomheders resultat før skat</td><td width="10%" align="right" valign="middle" > - </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > - </td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="18%" ></td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Income from investments in group enterprices before tax</td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" >Finansielle indtægter</td><td width="10%" align="right" valign="middle" > (5.791)</td><td width="1%" ></td><td width="10%" align="right" valign="middle" > (7.133)</td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="18%" ></td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Financial income</td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" >Finansielle omkostninger</td><td width="10%" align="right" valign="middle" > 17.139 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 9.522 </td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="18%" ></td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Financial expenses</td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" >Skat af årets resultat</td><td width="10%" align="right" valign="middle" > 31.581 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 28.688 </td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="18%" ></td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Tax on the profit/(loss) for the year</td></tr><tr><td colspan="15"></td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" >reguleringer i alt</td><td width="10%" align="right" valign="middle" ><b> 1.143.680 </b></td><td width="1%" ></td><td width="10%" align="right" valign="middle" ><b> 911.592 </b></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="18%" ></td></tr><tr><td colspan="15"></td></tr></table> ALD Automotive A/S DK-2630 Taastrup Helgeshøj Allé 34 www.aldautomotive.dk 87573613 Tel: +45 33 55 80 00 Dirigent 2023-06-29 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Ledelsespåtegning</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Statement by Management on the annual report</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td>Bestyrelsen og direktionen har dags dato behandlet og godkendt årsrapporten for regnskabsåret 1. januar - 31. december 2022 for ALD Automotive A/S.</td><td /><td>ALD Automotive</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Årsrapporten aflægges i overensstemmelse med årsregnskabsloven.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>The annual report is presented in accordance with the Danish Financial Statements Act.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Det er vores opfattelse, at årsregnskabet giver et retvisende billede af selskabets aktiver, passiver og finansielle stilling pr. 31. december 2022 samt af resultatet af selskabets aktiviteter og pengestrømme for regnskabsåret 1. januar - 31. december 2022.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>In our opinion, the financial statements give a true and fair view of the Company’s financial position at 31 December 2022 and of its financial performance and cash flow for the financial year 1 January to 31 December 2022.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Ledelsesberetningen indeholder efter vores opfattelse en retvisende redegørelse for de forhold, beretningen omhandler.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>We believe that the management commentary contains a fair review of the affairs and conditions referred to therein.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Årsrapporten indstilles til generalforsamlingens godkendelse.</td></tr><tr><td colspan="1">Taastrup, den 26. june</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>We recommend the annual report for adoption at the Annual General Meeting.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Ledelsesberetning</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Management’s Review</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Hovedaktivitet</td></tr><tr><td colspan="1">I tæt samarbejde med Nordea-koncernen og ALD Automotive A/S, tilbyder NF Fleet et full-service leasingkoncept af person- og varebiler til danske erhvervsvirksomheder. Der tilbydes endvidere outsourcing af opgaver relateret til virksomhedens drift og administration af bilflåden. NF Fleet har specialiseret sig inden for dette segment af leasingmarkedet og tilbyder nogle af markedets bedste produkter med en stor grad af fleksibilitet og omkostningsbesparelser, bl.a. via skræddersyede IT-løsninger. NF Fleet’s primære fokus er rettet mod erhvervskunder i Nordea-koncernen.</td></tr><tr><td colspan="1">Derudover forestår NF Fleet for privatleasing af personbiler i forskellige mærke partnerskaber (white label).</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Main Activity</td></tr><tr><td /><td /><td>In close cooperation with the Nordea group and ALD Automotive A/S, NF Fleet offers Danish companies a full-service leasing concept of cars and vans. Moreover, the company offers outsourcing of tasks related to the company’s operations and administration of the car fleet. NF Fleet has specialized within this segment of the leasing market and offers some of the best products on the market with a very high degree of flexibility and cost savings, for example through customized IT solutions. NF Fleet’s primary focus is directed towards business clients in the Nordea group.</td></tr><tr><td /><td /><td>In addition, NF Fleet manages private leasing of cars in various make partnerships (white label).</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Udvikling i regnskabsåret</td></tr><tr><td colspan="1">Selskabet har i lighed med forrige regnskabsperiode rapporteret et positivt resultat i 2022. Den samlede bilflåde steg med 5% målt på antallet af biler. Det er en meget tilfredsstillende præstation manglen på nye biler i markedettaget i betragtning. Der er herudover en fortsat meget intensiv konkurrencesituation og et stigende prispres i markedet for både full service operational- og privatleasing. Nettoomsætningen er steget 15,9%, som resultat af ovenstående samt høje salgspriser på brugtvognsmarkedet, men stigning i produktionsomkostninger på 19,3% resulterer i et fald i bruttomarginen på 2,4%. NF Fleet realiserede endvidereet positivt overskud på salg af brugte biler. Dette var et resultat af en stabil efterspørgsel og højere salgspriser grundet manglen på nye biler på markedet. NF Fleets avancer var derfor efter forholdene tilfredsstillende og omkostningerne stabile.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Development in the financial year</td></tr><tr><td /><td /><td>The company has, like last financial period, reported positive results in 2022. The total vehicle fleet increased by 8% measured on number of cars. This is a very satisfying performance considering the lack of new cars in the market. In addition, there is still a very intense competitive situation and an increasing price pressure on both full-service operational leasing and private leasing. The revenue has increased 15,9% as a result of the above and high sales prices on the used car market, but the increase in the productioncosts of 19,3% results in a decrease in the gross margin of 2,4%. Furthermore, NF Fleet realized a positive profit on the sale of used cars. This was due to a stable demand and higher sales prices due to lack of new cars on the market. NF Fleet’s margins were under the conditions satisfying, and our cost base stable.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Generelle risici</td></tr><tr><td colspan="1">De generelle risici for NF Fleet relaterer sig hovedsageligt til vedligehold af, samt restværdigarantier på, de leasede køretøjer. Derudover til den kreditrisiko der hidrører fra selskabets kunder.</td></tr><tr><td colspan="1">Særlige risici</td></tr><tr><td colspan="1">NF Fleets aktiviteter påvirkes i et forholdsvis stort omfang af den skatte- og afgiftspolitik der bliver ført på bilområdet af den danske stat. Registreringsafgift, brugsafgifter og ikke mindst beskatning af fri bil er afgørende for markedets udvikling og for selskabets aktivers værdi ved kontraktafslutning.</td></tr><tr><td colspan="1">Det fleksible skattesystem bevilliget til leasingselskaber i 2009 var en klog beslutning, som gør os i stand til at støtte økonomien ved at lease køretøjer til erhvervskunder i et sikrere skattemiljø.</td></tr><tr><td colspan="1">Driftsrisici</td></tr><tr><td colspan="1">NF Fleet benytter sig af koncernens godkendte værktøjer til løbende at evaluere risikoen på henholdsvis restværdigaranti samt vedligeholdelsen af de leasede køretøjer. Selskabet er således på forkant på disse områder og kan løbende korrigere nye kontrakter for eventuelt ændrede trends, der kan påvirke selskabets resultat. NF Fleet har, for at mindske risiciene på de stillede restværdigarantier, et samarbejde med ALD Carmarket. Via denne salgskanal, benytter NF Fleet sig af såvel auktioner, engrossalgskanaler samt detailsalg af de leasede køretøjer efter endt kontrakt.</td></tr><tr><td colspan="1">NF Fleet er underlagt koncernens regler omkring intern kontrol, vedvarende drift i specielle nødsituationer, og ikke mindst en konstant vurdering af de driftsrisici der foreligger.</td></tr><tr><td colspan="1">Renterisici</td></tr><tr><td colspan="1">NF Fleet indgår udelukkende fastforrentede leasingaftaler. På den samlede portefølje udøves ”matched funding”, således at eventuelle renteændringer ikke påvirker selskabets finansielle resultater.</td></tr><tr><td colspan="1">Kreditrisici</td></tr><tr><td colspan="1">NF Fleet indgår kun aftaler med virksomheder der på forhånd er kreditvurderet ud fra parametre fastlagt på koncernniveau. Den løbende kreditrisiko vurderes for hver enkelt kunde, minimum én gang årligt.</td></tr><tr><td colspan="1">Målsætninger og forventninger til det kommende år</td></tr><tr><td colspan="1">Det er selskabets målsætning at udbygge positionen på det danske marked for operationel billeasing. Målsætningen understøttes af et tæt samarbejde med Nordea-koncernen samt en fortsat positiv udvikling af nye kunder.</td></tr><tr><td colspan="1">Desuden opretholder selskabet en fortsat høj grad af tilfredshed og loyalitet fra eksisterende kunder.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>General risks</td></tr><tr><td /><td /><td>The general risks for NF Fleet mainly relate to maintenance of and residual value guarantees on the leased vehicles. Furthermore, it relates to the credit risk that originates from the company’s customer portfolio.</td></tr><tr><td /><td /><td>Special risks</td></tr><tr><td /><td /><td>NF Fleets activities are influenced to a relatively wide extent by the direct and indirect tax policy that is pursued within the car area by the Danish government. Car tax, usage tax, and not least taxation of company cars are decisive for the development of the market and for the value of the company’s assets in connection with termination of contract.</td></tr><tr><td /><td /><td>The flex tax system granted to leasing companies in 2009 was a wise decision, which has allowed us to continue to support the economy by leasing vehicles to corporate customers in a safer tax environment.</td></tr><tr><td /><td /><td>Operational risks</td></tr><tr><td /><td /><td>NF Fleet makes use of the group’s approved tools to evaluate the risk of the residual value guarantee and the maintenance of the leased vehicles respectively on a current basis. Thus, the company is at the leading edge within these areas and can continuously update new contracts for possible changed trends that can influence the company’s profit. In order to reduce the risks on the provided residual value guarantees of the leased vehicles, NF Fleet has a cooperation with ALD Carmarket. Through this retail distribution channel, the company uses auctions, wholesale distribution channels, as well as retail sale of the leased vehicles after end contract.</td></tr><tr><td /><td /><td>NF Fleet is governed by the group’s rules concerning internal control, contingency plans in special emergencies, and not least a constant evaluation of the operational risks.</td></tr><tr><td /><td /><td>Interest risks</td></tr><tr><td /><td /><td>NF Fleet only enters into fixed-interest leasing agreements, and on the total portfolio matched funding is practiced, so that possible changes in interest do not influence the company’s financial results.</td></tr><tr><td /><td /><td>Credit risks</td></tr><tr><td /><td /><td>NF Fleet only enters into agreements with companies that have been credit rated in advance from parameters determined at group level. The running credit risk is assessed on an ongoing basis for each customer at least once a year.</td></tr><tr><td /><td /><td>Objectives and expectations for the coming year</td></tr><tr><td /><td /><td>It is the company’s objective to continue to expand the position on the Danish market for operational car leasing. The objective is supported by a close cooperation with the Nordea group and a continued positive growth of new customers.</td></tr><tr><td /><td /><td>Furthermore, the company has maintained a high degree of satisfaction and loyalty from existing customers.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Begivenheder efter regnskabsårets udløb</td></tr><tr><td colspan="1">De fortsatte geopolitiske uroligheder fortsætter med at udfordre leverancer på nye biler, da den europæiske bilproduktion har en række underleverandører i Ukraine. Hvorfor markedet for nye biler forventes at være presset i en stor del af 2023.</td></tr><tr><td colspan="1">NF Fleet vurderer eventuelle påvirkninger med hensyn til kreditrisiko, bilsalgsaktivitet og flådeudvikling.</td></tr><tr><td colspan="1">ALD Automotive kunne i januar 2022 meddele, at der er underskrevet et aftalememorandum om at erhverve 100 % af LeasePlan fra et konsortium ledet af TDR Capital. Dette vil have indirekte effekt på NF Fleet grundet ejerstrukturen, og en række fælles administrative værktøjer og processer der benyttes på tværs af koncernen. Ultimo april 2023 er købet endelig godkendt hvorefter integrationen af LeasePlan kan begynde.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Events after the financial year</td></tr><tr><td /><td /><td>The ongoing geopolitical turmoil continues to challenge deliveries of new cars, as the European car production has several subcontractors in Ukraine, which is why</td></tr><tr><td /><td /><td>In addition to Covid-19 and the lack of microchips, the war in Ukraine also affects deliveries of new cars, as European car production has a number of subcontractors in Ukraine.</td></tr><tr><td /><td /><td>Udover Covid-19 og manglen på mikrochips, påvirker krigen i Ukraine også leveringer af nye biler, da europæisk bilproduktion har en række underleverandører i Ukraine.</td></tr><tr><td /><td /><td>In addition to Covid-19 and the shortage of microchips, the war in Ukraine is also affecting deliveries of new cars, as European car production has a number of subcontractors in Ukraine.</td></tr><tr><td /><td /><td>Udover Covid-19 og manglen på mikrochips, påvirker krigen i Ukraine også leveringer af nye biler, da europæisk bilproduktion har en række underleverandører i Ukraine.</td></tr><tr><td /><td /><td>Nogle resultater kunne ikke indlæses</td></tr></table> www.aldautomotive.com/about-us/sustainability <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Redegørelse for samfundsansvar</td></tr><tr><td colspan="1">Redegørelse for samfundsansvar dækker perioden 1. januar til 31. december 2022 og knytter sig til årsrapporten for 2022. NF Fleet ønsker at leve op til lovgivningen og gældende regler på de markeder, hvor der opereres. NF Fleet har ikke selvstændigt etableret politikker for efterlevelse af samfundsansvar, men følger den generelle politik for samfundsansvar, der er etableret i ALD-koncernen, som en del af koncernens strategi og aktivitetet.</td></tr><tr><td colspan="1">For lovpligtige redegørelse for §99a henvises til koncernens: www.aldautomotive.com/about-us/sustainability hvor dokumentet ALD Automotive Universal Registration Document findes, se afsnit 1.2.1 Business model (side 7), samt afsnit 5 Declaration of extra‑financial performance (side 129 – 188).</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Prøv igen</td></tr><tr><td /><td /><td>Prøver igen</td></tr><tr><td /><td /><td>Prøver igen</td></tr><tr><td /><td /><td>the market for new cars is expected to be under pressure for a large part of 2023.</td></tr><tr><td /><td /><td>NF Fleet is evaluating any potential impacts in terms of credit risk, used car sales activity and fleet development.</td></tr><tr><td /><td /><td>In January 2022, ALD Automotive was able to announce that a memorandum of understanding has been signed to acquire 100% of LeasePlan from a consortium led by TDR Capital. This will have an indirect effect on NF Fleet due to the ownership structure, and a number of common administrative tools and processes used across the group. By the end of April 2023, the acquisition is finally approved, after which the integration of LeasePlan can begin.</td></tr><tr><td /><td /><td>Statement of community responsibility</td></tr><tr><td /><td /><td>Statement of community responsibility covers the period 1 January to 31 December 2022 and is associated with the annual report for 2022. NF Fleet wishes to live up to the legislation and current regulations in the market where we operate. NF Fleet has not independently established policies for responding to community responsibility but follows the general policy of community responsibility established in the ALD group, as part of the group strategy and operations.</td></tr><tr><td /><td /><td>For the statutory statement on §99a please refer to the group website:www.aldautomotive.com/about-us/sustainability, where ALD Automotive Universal Registration Document can be found, see section 1.2.1 Business model (Page 7) and section 5 Declaration of extra‑financial performance (page 129 – 188).</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Kønsfordeling i ledelsen</td></tr><tr><td colspan="1">Koncernen tror på, at mangfoldighed blandt medarbejderne, herunderen ligelig fordeling af kønnene, bidrager positivt til arbejdsmiljøet og styrker virksomhedens performance og konkurrenceevne NF Fleet A/S arbejder på at øge antallet af kvindelige ledere i virksomheden og har på baggrund heraf opstillet konkrete måltal for andelen af det underrepræsenterede køn og politikker for at sikre dette.</td></tr><tr><td colspan="1">NF Fleet A/S har på en målsætning om, at 33% af de generalforsamlingsvalgte bestyrelsesmedlemmer skal udgøres af kvinder, mens 35% af øvrige ledelsesniveauer, skal være besat af kvinder inden 2025. Øvrige ledelsesniveauer omfatter direktion, afdelingsledere samt mellemledere.</td></tr><tr><td colspan="1">Status er p.t. at ingen af medlemmerne i bestyrelsen i NF Fleet A/S er kvinder. Målsætningen er ikke blevet opfyldt i 2022, da der ingen kvindelige kandidater var.</td></tr><tr><td colspan="1">På øvrige ledelsesniveauer er p.t. 0% (uændret ift. 2021) af stillingerne besat af kvinder.</td></tr><tr><td colspan="1">Når det er muligt, sørger virksomheden for at begge køn er repræsenteret i den sidste del af rekrutte-ringsprocessen.</td></tr><tr><td colspan="1">For at kunne opfylde ovenstående målsætning om flere kvindelige ledere i koncernen, er der iværksat en række initiativer, der kan fremme udviklingen og støtte op omkring udviklingen af kvindelige ledere. Bl.a. er der taget initiativ til individuelle karriereplaner for kvindelige medarbejdere med ledelse som målsætning, samt iværksat identifikation af kvindelige talenter og iværksat specielle uddannelsesinitiativer for at styrke deres udvikling frem mod mulige ledelsesstillinger. I forbindelse med ansættelse og rekruttering til ledelsesposter er målet, at der skal være både mandlige og kvindelige kandidater. Princippet gælder for såvel interne jobopslag som eksterne.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Gender distribution in management</td></tr><tr><td /><td /><td>The group believes that equal distribution of the genders, attributes positively to the working environment and strengthens the company’s performance and competitiveness.</td></tr><tr><td /><td /><td>NF Fleet A/S is working on increasing the number of female managers in the company and has on basis of this established specific targets for the share of the underrepresented gender and policies to ensure this.</td></tr><tr><td /><td /><td>NF Fleet A/S has a target stating that 33% of the elected board members must be female, while 35% of the other management levels must be held by women before 2025. Other management levels include SLT, head of departments and middle managers.</td></tr><tr><td /><td /><td>The current status is that none of the board members in NF Fleet A/S are female. The target has not been reached in 2022,as there were no female candidates.</td></tr><tr><td /><td /><td>On other management levels 0% (unchanged from 2021) of the positions are currently held by women.</td></tr><tr><td /><td /><td>Whenever possible, the company ensures that both genders are represented in the final part of the recruitment process.</td></tr><tr><td /><td /><td>To be able to fulfill the above target of more female managers in the group, several initiatives to promote and support the development of female managers have been launched. For example, individual career plans for female employees with a goal of leadership have been initiated. We have initiated identification of female talents and started special educational initiatives to strengthen their development towards possible management positions. In connection with employment and recruitment to management positions, the target is that there must be both male and female candidates. The principle applies to both internal and external job postings.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Den uafhængige revisors revisionspåtegning</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Independent auditor's report</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Til kapitalejerne i ALD Automotive A/S</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>To the shareholders of ALD Automotive A/S</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Konklusion</td></tr><tr><td colspan="1">Vi har revideret koncernregnskabet og årsregnskabet for ALD Automotive A/S for regnskabsåret 1. januar – 31. december 2022, der omfatter anvendt regnskabspraksis, resultatopgørelse, balance, egenkapitalopgørelse, pengestrømsopgørelse og noter, for såvel koncernen som selskabet. Koncernregnskabet og årsregnskabet udarbejdes efter årsregnskabsloven.</td></tr><tr><td colspan="1">Det er vores opfattelse, at koncernregnskabet og årsregnskabet giver et retvisende billede af koncernens og selskabets aktiver, passiver og finansielle stilling pr. 31. december 2022 samt af resultatet af koncernens og selskabets aktiviteter og pengestrømme for regnskabsåret 1. januar – 31. december 2022 i overensstemmelse med årsregnskabsloven.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Opinion</td></tr><tr><td /><td /><td>We have audited the consolidated financial statements and the parent company financial statements of ALD Automotive A/S for the financial year 1 January – 31 December 2022, which comprise accounting policies, income statement, balance sheet, statement of changes in equity, cash flow statement and notes, for the Group and the Parent Company. The consolidated financial statements and the parent company financial statements are prepared in accordance with the Danish Financial Statements Act.</td></tr><tr><td /><td /><td>In our opinion, the consolidated financial statements and the parent company financial statements give a true and fair view of the financial position of the Group and the Parent Company at 31 December 2022 and of the results of the Group's and the Parent Company's operations and cash flows for the financial year 1 January – 31 December 2022 in accordance with the Danish Financial Statements Act.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Grundlag for konklusion</td></tr><tr><td colspan="1">Vi har udført vores revision i overensstemmelse med internationale standarder om revision og de yderligere krav, der er gældende i Danmark. Vores ansvar ifølge disse standarder og krav er nærmere beskrevet i revisionspåtegningens afsnit "Revisors ansvar for revisionen af koncernregnskabet og årsregnskabet" (herefter benævnt "regnskaberne"). Det er vores opfattelse, at det opnåede revisionsbevis er tilstrækkeligt og egnet som grundlag for vores konklusion.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Basis for opinion</td></tr><tr><td /><td /><td>We conducted our audit in accordance with International Standards on Auditing (ISAs) and 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 consolidated financial statements and the parent company financial statements" (hereinafter collectively referred to as "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.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td>Uafhængighed</td><td /><td>Independence</td></tr><tr><td /><td /><td>We are independent of the Group 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.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Ledelsens ansvar for regnskaberne</td></tr><tr><td colspan="1">Ledelsen har ansvaret for udarbejdelsen af et koncernregnskab og et årsregnskab, der giver et retvisende billede i overensstemmelse med årsregnskabsloven. Ledelsen har endvidere ansvaret for den interne kontrol, som ledelsen anser for nødvendig for at udarbejde regnskaberne uden væsentlig fejlinformation, uanset om denne skyldes besvigelser eller fejl.</td></tr><tr><td colspan="1">Ved udarbejdelsen af regnskaberne er ledelsen ansvarlig for at vurdere koncernens og selskabets evne til at fortsætte driften; at oplyse om forhold vedrørende fortsat drift, hvor dette er relevant; samt at udarbejde regnskaberne på grundlag af regnskabsprincippet om fortsat drift, medmindre ledelsen enten har til hensigt at likvidere koncernen eller selskabet, indstille driften eller ikke har andet realistisk alternativ end at gøre dette.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Management's responsibilities for the financial statements</td></tr><tr><td /><td /><td>Management is responsible for the preparation of consolidated financial statements and parent company 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.</td></tr><tr><td /><td /><td>In preparing the financial statements, Management is responsible for assessing the Group's and the Parent 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 Group or the Parent Company or to cease operations, or has no realistic alternative but to do so.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="3">Revisors ansvar for revisionen af regnskaberne</td></tr><tr><td colspan="3">Vores mål er at opnå høj grad af sikkerhed for, om regnskaberne som helhed er uden væsentlig fejlinformation, uanset om denne skyldes besvigelser eller fejl, og at afgive en revisionspåtegning med en konklusion. Høj grad af sikkerhed er et højt niveau af sikkerhed, men er ikke en garanti for, at en revision, der udføres i overensstemmelse med internationale standarder om revision og de yderligere krav, der er gældende i Danmark, altid vil afdække væsentlig fejlinformation, når sådan findes. Fejlinformationer kan opstå som følge af besvigelser eller fejl og kan betragtes som væsentlige, hvis det med rimelighed kan forventes, at de enkeltvis eller samlet har indflydelse på de økonomiske beslutninger, som regnskabsbrugerne træffer på grundlag af regnskaberne.</td></tr><tr><td colspan="3">Som led i en revision, der udføres i overensstemmelse med internationale standarder om revision og de yderligere krav, der er gældende i Danmark, foretager vi faglige vurderinger og opretholder professionel skepsis under revisionen. Herudover</td></tr><tr><td>► Identificerer og vurderer vi risikoen for væsentlig fejlinformation i regnskaberne, uanset om denne skyldes besvigelser eller fejl, udformer og udfører revisionshandlinger som reaktion på disse risici samt opnår revisionsbevis, der er tilstrækkeligt og egnet til at danne grundlag for vores konklusion. Risikoen for ikke at opdage væsentlig fejlinformation forårsaget af besvigelser er højere end ved væsentlig fejlinformation forårsaget af fejl, idet besvigelser kan omfatte sammensværgelser, dokumentfalsk, bevidste udeladelser, vildledning eller tilsidesættelse af intern kontrol.</td><td /><td>► 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.</td></tr><tr><td>► Opnår vi forståelse af den interne kontrol med relevans for revisionen for at kunne udforme revisi-onshandlinger, der er passende efter omstændighederne, men ikke for at kunne udtrykke en konklusion om effektiviteten af koncernens og selskabets interne kontrol.</td><td /><td>► 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 Group's and the Parent Company's internal control.</td></tr><tr><td>► Tager vi stilling til, om den regnskabspraksis, som er anvendt af ledelsen, er passende, samt om de regnskabsmæssige skøn og tilknyttede oplysninger, som ledelsen har udarbejdet, er rimelige.</td><td /><td>► Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management.</td></tr><tr><td>► Konkluderer vi, om ledelsens udarbejdelse af regnskaberne på grundlag af regnskabsprincippet om fortsat drift er passende, samt om der på grundlag af det opnåede revisionsbevis er væsentlig usikkerhed forbundet med begivenheder eller forhold, der kan skabe betydelig tvivl om koncernens og selskabets evne til at fortsætte driften. Hvis vi konkluderer, at der er en væsentlig usikkerhed, skal vi i vores revisionspåtegning gøre opmærksom på oplysninger herom i regnskaberne eller, hvis sådanne oplysninger ikke er tilstrækkelige, modificere vores konklusion. Vores konklusion er baseret på det revisionsbevis, der er opnået frem til datoen for vores revisionspåtegning. Fremtidige begivenheder eller forhold kan dog medføre, at koncernen og selskabet ikke længere kan fortsætte driften.</td><td /><td>► 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 Group's and the Parent 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 Group and the Parent Company to cease to continue as a going concern.</td></tr><tr><td>► Tager vi stilling til den samlede præsentation, struktur og indhold af regnskaberne, herunder note-oplysningerne, samt om regnskaberne afspejler de underliggende transaktioner og begivenheder på en sådan måde, at der gives et retvisende billede heraf.</td><td /><td>► 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.</td></tr><tr><td>► Opnår vi tilstrækkeligt og egnet revisionsbevis for de finansielle oplysninger for virksomhederne eller forretningsaktiviteterne i koncernen til brug for at udtrykke en konklusion om koncernregnskabet. Vi er ansvarlige for at lede, føre tilsyn med og udføre koncernrevisionen. Vi er eneansvarlige for vores revisionskonklusion.</td><td /><td>► Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.</td></tr><tr><td colspan="3">Vi kommunikerer med den øverste ledelse om bl.a. det planlagte omfang og den tidsmæssige placering af revisionen samt betydelige revisionsmæssige observationer, herunder eventuelle betydelige mangler i intern kontrol, som vi identificerer under revisionen.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Auditor's responsibilities for the audit of the financial statements</td></tr><tr><td /><td /><td>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 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.</td></tr><tr><td /><td /><td>As part of an audit conducted in accordance with ISAs and additional requirements applicable in Denmark, we exercise professional judgement and maintain professional scepticism throughout the audit. We also</td></tr><tr><td /><td /><td>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.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Udtalelse om ledelsesberetningen</td></tr><tr><td colspan="1">Ledelsen er ansvarlig for ledelsesberetningen.</td></tr><tr><td colspan="1">Vores konklusion om regnskaberne omfatter ikke ledelsesberetningen, og vi udtrykker ingen form for konklusion med sikkerhed om ledelsesberetningen.</td></tr><tr><td colspan="1">I tilknytning til vores revision af regnskaberne er det vores ansvar at læse ledelsesberetningen og i den forbindelse overveje, om ledelsesberetningen er væsentligt inkonsistent med regnskaberne eller vores viden opnået ved revisionen eller på anden måde synes at indeholde væsentlig fejlinformation.</td></tr><tr><td colspan="1">Vores ansvar er derudover at overveje, om ledelsesberetningen indeholder krævede oplysninger i henhold til årsregnskabsloven.</td></tr><tr><td colspan="1">Baseret på det udførte arbejde er det vores opfattelse, at ledelsesberetningen er i overensstemmelse med regnskaberne og er udarbejdet i overensstemmelse med årsregnskabslovens krav. Vi har ikke fundet væsentlig fejlinformation i ledelsesberetningen.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Statement on the Management's review</td></tr><tr><td /><td /><td>Management is responsible for the Management's review.</td></tr><tr><td /><td /><td>Our opinion on the financial statements does not cover the Management's review, and we do not express any form of assurance conclusion thereon.</td></tr><tr><td /><td /><td>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.</td></tr><tr><td /><td /><td>Moreover, it is our responsibility to consider whether the Management's review provides the information required under the Danish Financial Statements Act.</td></tr><tr><td /><td /><td>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 Statements Act. We did not identify any material misstatement of the Management's review.</td></tr></table> København Copenhagen, 29 of June 2023 2023-06-29 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Anvendt regnskabspraksis</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Accounting policies</td></tr></table> Regnskabsklasse C, stor virksomhed <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Årsrapporten er aflagt i overensstemmelse med årsregnskabslovens bestemmelser for regnskabs-klasse C (stor).</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>This annual report has been presented in accordance with the provisions of the Danish Financial Statements Act governing reporting class C enterprises (large).</td></tr></table> true <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Alle beløb i årsregnskabets del af årsrapporten præsenteres i hele t.kr. Hvert tal afrundes for sig. Der kan derfor forekomme afvigelser mellem de anførte totaler og summen af de underliggende tal.</td></tr></table><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Generelt om indregning og måling</td></tr><tr><td colspan="1">Aktiver indregnes i balancen, når det som følge af en tidligere begivenhed er sandsynligt, at fremtidige økonomiske fordele vil tilflyde selskabet, og aktivets værdi kan måles pålideligt.</td></tr><tr><td colspan="1">Forpligtelser indregnes i balancen, når selskabet som følge af en tidligere begivenhed har en retlig eller faktisk forpligtelse, og det er sandsynligt, at fremtidige økonomiske fordele vil fragå selskabet, og forpligtelsens værdi kan måles pålideligt.</td></tr><tr><td colspan="1">Ved første indregning måles aktiver og forpligtelser til kostpris. Måling efter første indregning sker som beskrevet for hver enkelt regnskabspost nedenfor.</td></tr><tr><td colspan="1">Ved indregning og måling tages hensyn til forudsigelige risici og tab, der fremkommer, inden årsrapporten aflægges, og som be- eller afkræfter forhold, der eksisterede på balancedagen.</td></tr><tr><td colspan="1">I resultatopgørelsen indregnes indtægter, i takt med at de indtjenes, mens omkostninger indregnes med de beløb, der vedrører regnskabsåret.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Generally, all the amounts in the report are disclosed in whole numbers of DKKt. The amounts have been rounded, and consequently the sum of the rounded amounts and totals may differ slightly.</td></tr></table><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Recognition and measurement</td></tr><tr><td /><td /><td>Assets are recognised in the balance sheet when it is probable as a result of a prior event that future economic benefits will flow to the Company and the value of the assets can be measured reliably.</td></tr><tr><td /><td /><td>Liabilities are recognised in the balance sheet when the Company has a legal or constructive obligation as a result of a prior event, and it is probable that future economic benefits will flow out of the Company, and the value of the liabilities can be measured reliably.</td></tr><tr><td /><td /><td>On initial recognition, assets and liabilities are measured at cost. Measurement subsequent to initial recognition is effected as described below for each financial statement item.</td></tr><tr><td /><td /><td>Anticipated risks and losses that arise before the time of presentation of the annual report and that confirm or invalidate affairs and conditions existing at the balance sheet date are considered at recognition and measurement.</td></tr><tr><td /><td /><td>Income is recognised in the income statement when earned, whereas costs are recognised by the amounts attributable to this financial year.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Omregning af fremmed valuta</td></tr><tr><td colspan="1">Transaktioner i fremmed valuta omregnes ved første indregning til transaktionsdagens kurs. Tilgodehavender, gældsforpligtelser og andre monetære poster i fremmed valuta, som ikke er afregnet på balancedagen, omregnes til balancedagens valutakurs. Valutakursdifferencer, der opstår mellem transaktionsdagens kurs og kursen på henholdsvis betalingsdagen og balancedagen, indregnes i resultatopgørelsen som finansielle poster. Materielle og immaterielle anlægsaktiver, varebeholdninger og andre ikke-monetære aktiver, der er købt i fremmed valuta, omregnes til historiske kurser.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Foreign currency translation</td></tr><tr><td /><td /><td>On initial recognition, foreign currency transactions are translated applying the exchange rate at the transaction date. Receivables, payables and other monetary items denominated in foreign currencies that have not been settled at the balance sheet date are translated using the exchange rate at the balance sheet date. Exchange differences that arise between the rate at the transaction date and the one in effect at the payment date or the rate at the balance sheet date are recognised in the income statement as financial income or financial expenses. Property, plant and equipment, intangible assets, inventories and other non-monetary assets that have been purchased in foreign currencies are translated using historical rates.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Resultatopgørelsen</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Income statement</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="3">Nettoomsætning</td></tr><tr><td colspan="3">Selskabet anvender IFRS 15 "Omsætning fra kontrakter med kunder" som fortolkningsbidrag af nettoomsætning.</td></tr><tr><td colspan="3">Nettoomsætning indregnes i resultatopgørelsen, efter følgende kriterier</td></tr><tr><td>· Lejeindtægter indregnes lineært over leasing-kontraktens løbetid.</td><td /><td>·</td></tr><tr><td>· Nettogevinsten ved salg af leasingbiler indregnes i takt med, at levering finder sted.</td><td /><td>·</td></tr><tr><td>· Indtægter, der relaterer sig til servicekontrakter, indregnes i takt med afholdelse af de faktiske omkostninger.</td><td /><td>·</td></tr><tr><td colspan="3">Operative leasingkontrakter vedrørende materielle anlægsaktiver, hvor selskabet har alle væsentlige risici og fordele forbundet med ejendomsretten, indregnes i balancen til kostpris, og disse af- og nedskrives som selskabets øvrige materielle anlægsaktiver.</td></tr><tr><td colspan="3">Nettoomsætning indregnes eksklusive moms, afgifter og rabatter i forbindelse med salget og måles til dagsværdien af det fastsatte vederlag.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Revenue</td></tr><tr><td /><td /><td>The company follow IFRS 15 "Revenue from contracts with customers" as interpretation contribution of net revenue.</td></tr><tr><td /><td /><td>Revenue is recognised in the income statement applying the following criteria</td></tr><tr><td /><td /><td>Where the Company has all material risks and advantages related to the title, operative lease agreements concerning property, plant and equipment are recognised in the balance sheet at cost and are amortised and written down like the Company’s other property, plant and equipment.</td></tr><tr><td /><td /><td>Revenue is recognised net of VAT, duties and sales discounts and is measured at fair value of the consideration fixed.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Produktionsomkostninger</td></tr><tr><td colspan="1">Produktionsomkostninger omfatter direkte og indirekte omkostninger, der afholdes for at opnå nettoomsætningen. I produktionsomkostninger indregnes omkostninger til produktionspersonale samt afskrivninger på og vedligeholdelse af leasingbiler.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Cost of sales</td></tr><tr><td /><td /><td>Cost of sales comprises direct and indirect costs incurred to earn revenue. In cost of sales,the Company recognises costs relating to production staff as well as depreciation and maintenance of lease vehicles.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Salgs- og distributionsomkostninger</td></tr><tr><td colspan="1">Salgs- og distributionsomkostninger omfatter omkostninger, der afholdes til salg og distribution af solgte ydelser og varer samt til salgskampagner, herunder omkostninger til salgs- og distributionspersonale, reklameomkostninger og afskrivninger.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Distribution costs</td></tr><tr><td /><td /><td>Distribution costs comprise costs incurred for distribution of goods sold and also for sales campaigns, including costs for sales and distribution staff, advertising costs as well as depreciation and amortisation.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Administrationsomkostninger</td></tr><tr><td colspan="1">Administrationsomkostninger omfatter omkost-ninger, der afholdes til ledelse og administration af selskaberne, herunder omkostninger til det administrative personale og ledelsen samt kontorholdsomkostninger og afskrivninger.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Administrative expenses</td></tr><tr><td /><td /><td>Administrative expenses comprise expenses incurred for management and administration of the Company, including expenses for the administrative staff and Management, stationery and office supplies as well as depreciation and amortisation.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Finansielle poster</td></tr><tr><td colspan="1">Finansielle poster omfatter renteindtægter og -omkostninger, og realiserede og urealiserede kursgevinster og -tab vedrørende transaktioner i fremmed valuta. Renteindtægter indeholder renter fra finansielle leasingkontrakter samt renteindtægter fra udlån.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Financial income and expenses</td></tr><tr><td /><td /><td>These items comprise interest income and expenses and realised and unrealised capital gains and losses on transactions in foreign currencies. Interest income includes interest from financial leasing contracts and interest receivables from loans.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Skat</td></tr><tr><td colspan="1">Årets skat, som består af årets aktuelle skat og ændring af udskudt skat, indregnes i resultatopgørelsen med den del, der kan henføres til årets resultat, og direkte på egenkapitalen med den del, der kan henføres til posteringer direkte på egenkapitalen.</td></tr><tr><td colspan="1">Udskudt skat indregnes af alle midlertidige forskelle mellem regnskabsmæssige og skattemæssige værdier af aktiver og forpligtelser, hvor den skattemæssige værdi af aktiverne opgøres med udgangspunkt i den planlagte anvendelse af det enkelte aktiv.</td></tr><tr><td colspan="1">Udskudte skatteaktiver indregnes i balancen med den værdi, aktivet forventes realiseret til, enten ved modregning i udskudte skatteforpligtelser eller som nettoskatteaktiver.</td></tr><tr><td colspan="1">Selskabet er sambeskattet med alle danske dattervirksomheder. Den aktuelle danske selskabsskat fordeles mellem de sambeskattede selskaber i forhold til disses skattepligtige indkomster (fuld fordeling med refusion vedrørende skattemæssige underskud).</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Income taxes</td></tr><tr><td /><td /><td>Tax for the year, which consists of current tax for the year and changes in deferred tax, is recognised in the income statement by the portion attributable to the profit for the year and recognised directly on equity by the portion attributable to entries directly on equity.</td></tr><tr><td /><td /><td>Deferred tax is recognised on all temporary differences between the carrying amount and tax-based value of assets and liabilities, for which the tax-based value of assets is calculated based on the planned use of each asset.</td></tr><tr><td /><td /><td>Deferred tax assets, including the tax base of tax loss carryforwards, are recognised in the balance sheet at their estimated realisable value, either as a set-off against deferred tax liabilities or as net tax assets.</td></tr><tr><td /><td /><td>The Company is jointly taxed with all of its wholly owned Danish subsidiaries. The current Danish income tax is allocated among the jointly taxed companies proportionally to their taxable income (full allocation with a refund concerning tax losses).</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Balancen</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Balance sheet</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Immaterielle anlæsaktiver</td></tr><tr><td colspan="1">Omkostninger på udviklingsprojekter omfatter gager, afskrivninger og andre omkostninger, der direkte og indirekte kan henføres til selskabets udviklingsaktiviteter.</td></tr><tr><td colspan="1">Udviklingsprojekter, der er klart definerede og identificerbare, hvor den tekniske udnyttelsesgrad, tilstrækkelige ressourcer og et potentielt fremtidigt marked eller udviklingsmulighed i koncernen kan påvises, og hvor det er hensigten at markedsføre eller anvende projektet, indregnes som immaterielle anlægsaktiver, såfremt der er tilstrækkelig sikkerhed for, at kapitalværdien af den fremtidige fordel kan dække salgs- og administrationsomkostninger samt selve udviklingsomkostningerne.</td></tr><tr><td colspan="1">Udviklingsprojekter, der ikke opfylder kriterierne for indregning i balancen, indregnes som omkostninger i resultatopgørelsen, i takt med at omkostningerne afholdes.</td></tr><tr><td colspan="1">Aktiverede udviklingsomkostninger måles til kostpris med fradrag af akkumulerede af- og nedskrivninger eller genindvindingsværdi, såfremt denne er lavere. Et beløb svarende til de indregnede udviklingsomkostninger reserveres i posten ”Reserve for udviklingsomkostninger” under egenkapitalen. Reserven omfatter udelukkende udviklingsomkostninger, som er indregnet i regnskabsår, der begynder den 1. januar 2017 eller senere. Reserven reduceres løbende med af- og nedskrivninger på udviklingsprojekterne.</td></tr><tr><td colspan="1">Aktiverede udviklingsomkostninger afskrives fra tidspunktet for færdiggørelsen lineært over den periode, hvori udviklingsarbejdet forventes at frembringe økonomiske fordele. Afskrivnings-perioden udgør dog maksimalt fem år.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Intangible assets</td></tr><tr><td /><td /><td>Costs on development projects comprise wages, depreciations and other costs directly and indirectly attributable to the company’s development activities.</td></tr><tr><td /><td /><td>Development projects clearly defined and identifiable, where the technical usage, enough resources and a potential future market or development opportunity in the group can be shown, and where the intent to market or use the project, are recognized as intangible assets given enough certainty that the capital value of the future advantage can cover the sales and administration costs as well as the developments costs themselves.</td></tr><tr><td /><td /><td>Developments projects that does not meet the criteria for recognition in the balance sheet are recognized as costs in the income statement in the same rate as costs are held.</td></tr><tr><td /><td /><td>Activated development costs are measured at cost minus the accumulated amortization or recoverable amount given this is lower. An amount matching the recognized costs are reserved in “Reserve for developments costs” under the equity. The reserve comprises only development costs that are held in financial years starting January 1st 2017 or later. The reserve is reduced continuously with depreciation and impairment losses on the development projects.</td></tr><tr><td /><td /><td>Activated developments costs are depreciated from the time of completion linearly over the period the development project is expected to give economic advantages. The depreciation period will be maximum 5 years.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td>Materielle anlægsaktiver</td><td /><td>Property, plant and equipment</td></tr><tr><td colspan="3">Andre anlæg, driftsmateriel og inventar leasingaktiver og forudbetalte leasingaktiver måles til kostpris med fradrag af akkumulerede af- og nedskrivninger.</td></tr><tr><td colspan="3">Kostprisen omfatter anskaffelsesprisen, omkost-ninger direkte tilknyttet anskaffelsen samt omkostninger til klargøring af aktivet indtil det tidspunkt, hvor aktivet er klar til at blive taget i brug.</td></tr><tr><td colspan="3">Afskrivningsgrundlaget er kostpris med fradrag af forventet restværdi efter afsluttet brugstid. Der foretages lineære afskrivninger baseret på følgende vurdering af aktivernes forventede brugstider</td></tr><tr><td colspan="3">Leasingbiler 1-5 år</td></tr><tr><td colspan="3">Andre anlæg, driftsmateriel og inventar 4 år</td></tr><tr><td colspan="3">Materielle anlægsaktiver nedskrives til genind-vindingsværdi, såfremt denne er lavere end den regnskabsmæssige værdi.</td></tr><tr><td colspan="3">Fortjeneste og tab ved afhændelse af materielle anlægsaktiver opgøres som forskellen mellem salgsprisen med fradrag af salgsomkostninger og den regnskabsmæssige værdi på salgstidspunktet. Fortjeneste eller tab indregnes i resultatopgørelsen som korrektion til af- og nedskrivninger eller under andre driftsindtægter, i det omfang salgsprisen overstiger den oprindelige kostpris.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Other fixtures and fittings, tools and equipment as well as lease assets and prepaid lease assets are measured at cost less accumulated depreciation and impairment losses.</td></tr><tr><td /><td /><td>Cost comprises the acquisition price, costs directly attributable to the acquisition, and preparation costs of the asset until the time when it is ready to be put into operation.</td></tr><tr><td /><td /><td>The basis of depreciation is cost less estimated residual value after the end of useful life. Straight-line depreciation is made on the basis of the following estimated useful lives of the assets</td></tr><tr><td /><td /><td>Lease vehicles 1-5 years</td></tr><tr><td /><td /><td>Other fixtures and fittings, tools and</td></tr><tr><td /><td /><td>equipment 4 years</td></tr><tr><td /><td /><td>Property, plant and equipment are written down to the lower of recoverable amount and carrying amount.</td></tr><tr><td /><td /><td>Profits and losses from the sale of property, plant and equipment are calculated as the difference between selling price minus selling costs and carrying amount at the time of sale. Profits or losses are recognised in the income statement as adjustment to depreciation and impairment losses, or under other operating income if the selling price exceeds original cost.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Finansielle leasing debitorer</td></tr><tr><td colspan="1">Leasingaftaler, hvor risikoen for restværdien er overgået til leasingtager klassificeres som finansiel leasing og indregnes under tilgodehavender. Tilgodehavender i forbindelse med finansiel leasing måles til nutidsværdien af de fremtidige ydelser.</td></tr><tr><td colspan="1">Ved beregning af nutidsværdien anvendes leasingaftalens interne rentefod som diskonteringsfaktor. Finansielt leasede aktiver af- og nedskrives ikke og står kun opført som et tilgodehavende, og leasingydelsens rentedel indtægtsføres løbende i resultatopgørelsen.</td></tr><tr><td colspan="1">Leasingaftaler, hvor alle væsentlige risici og fordele forbundet med ejendomsretten ikke overføres til leasingtager, betragtes som operationel leasing. Ydelser i forbindelse med operationel leasing indregnes lineært i resultatopgørelsen over leasingperioden.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Finacial leasing receivables</td></tr><tr><td /><td /><td>Leasing agreements where the risk of residual value has been transferreed to the leasee is classified as financial leasing and is recognized as receivables. Receivables in connection with financial leasing are measured to present value of the future lease payments.</td></tr><tr><td /><td /><td>The calculation of the present value is based on the internal interest rate as discount rate.Financial leasing assets are not depreciated or written down and are only included as a receivable, and the lease payments interest is continuously recognized as an income in the income statement.</td></tr><tr><td /><td /><td>Leasing agreements where all material risks and advantages in connection to the right of ownership has not been transferred to leasee is considered operational leasing. Lease payments from operational leasing are recognized linearly in the income statement during the leasing period.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Kapitalandele dattervirksomheder</td></tr><tr><td colspan="1">Kapitalandele i dattervirksomheder indregnes og måles efter den indre værdis metode (equity-metoden). Dette indebærer, at kapitalandelene måles til den forholdsmæssige andel af virksomhedernes regnskabsmæssige indre værdi med tillæg eller fradrag af uafskrevet henholdsvis positiv og negativ goodwill og med fradrag eller tillæg af urealiserede koncerninterne fortjenester og tab.</td></tr><tr><td colspan="1">I resultatopgørelsen indregnes selskabets andel af virksomhedernes resultat efter eliminering af urealiserede koncerninterne fortjenester og tab og med fradrag eller tillæg af afskrivning på henholdsvis goodwill og negativ goodwill.</td></tr><tr><td colspan="1">Dattervirksomheder med negativ regnskabsmæssig indre værdi måles til nul, og et eventuelt tilgodehavende hos disse virksomheder nedskrives med selskabets andel af den negative indre værdi, i det omfang det vurderes uerholdeligt.</td></tr><tr><td colspan="1">Såfremt den regnskabsmæssige negative indre værdi overstiger tilgodehavendet, indregnes det resterende beløb under hensatte forpligtelser, i det omfang selskabet har en retlig eller faktisk forpligtelse til at dække den pågældende virksomheds forpligtelser.</td></tr><tr><td colspan="1">Nettoopskrivning af kapitalandele i datter-virksomheder overføres i forbindelse med resultatdisponeringen til reserve for nettoopskrivning efter den indre værdis metode under egenkapitalen.</td></tr><tr><td colspan="1">Goodwill opgøres som forskellen mellem kostprisen for kapitalandelene og den forholdsmæssige andel af dagsværdien af de overtagne aktiver og forpligtelser opgjort til dagsværdi på overtagelsestidspunktet. Afskrivningsperioden for goodwill udgør sædvanligvis 5 år, men kan i visse tilfælde udgøre op til 20 år for strategisk erhvervede virksomheder med en stærk markedsposition og langsigtet indtjeningsprofil, såfremt den længere afskrivningsperiode bedre vurderes at afspejle nytten af de pågældende ressourcer.</td></tr><tr><td colspan="1">Kapitalandele i dattervirksomheder nedskrives til genindvindingsværdi, såfremt denne er lavere end den regnskabsmæssige værdi.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Investments in subsidiaries</td></tr><tr><td /><td /><td>Investments in subsidiaries are recognised and measured under the equity method. This means that investments are measured at the pro rata share of the enterprises’ equity plus or minus unamortised positive, or negative, goodwill and plus or minus unrealised intra-group profits or losses.</td></tr><tr><td /><td /><td>The Company's share of the enterprises' profits or losses after elimination of unrealised intra-group profits and losses and minus or plus amortisation of positive, or negative, goodwill is recognised in the income statement.</td></tr><tr><td /><td /><td>Subsidiaries and associates with a negative equity value are measured at zero value, and any receivables from these enterprises are written down by the Company’s share of such negative equity if it is deemed irrecoverable.</td></tr><tr><td /><td /><td>If the negative equity exceeds the amount receivable, the remaining amount is recognised under provisions if the Company has a legal or constructive obligation to cover the liabilities of the relevant enterprise.</td></tr><tr><td /><td /><td>Upon distribution of profit or loss, net revaluation of investments in subsidiaries is transferred to reserve for net revaluation according to the equity method under equity.</td></tr><tr><td /><td /><td>Goodwill is calculated as the difference between cost of the investments and the pro rata share of the fair value of the assets and liabilities acquired which have been calculated at fair value at the date of acquisition. The amortisation period for goodwill is usually five years, however, in certain cases it may be up to 20 years for strategically acquired enterprises with a strong market position and a long-term earnings profile if the longer amortisation period is considered to give a better reflection of the benefit from the relevant resources.</td></tr><tr><td /><td /><td>Investments in subsidiaries are written down to the lower of recoverable amount and carrying amount.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Varebeholdninger</td></tr><tr><td colspan="1">Varebeholdninger består af biler returneret efter ophør af leasingkontrakter, biler erhvervet i forbindelse med effektueringen af indgåede tilbagekøbsforpligtelser, samt biler erhvervet fra tredjemand.</td></tr><tr><td colspan="1">Varebeholdninger måles til kostpris eller nettorealisationsværdi, hvor denne er lavere.</td></tr><tr><td colspan="1">Kostprisen for leasingbiler returneret efter kontraktophør omfatter den regnskabsmæssige værdi af leasingaktivet på tidspunktet for kontraktens ophør. Kostprisen for andre biler er baseret på indkøbspriser. Nettorealisationsværdi for varebeholdninger opgøres som forventet salgspris med fradrag af færdiggørelsesomkostninger og omkostninger, der skal afholdes for at effektuere salget.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Inventories</td></tr><tr><td /><td /><td>Inventories comprise vehicles returned after expiry of lease agreements, vehicles acquired in connection with the execution of repurchase agreements entered into as well as vehicles acquired from third parties.</td></tr><tr><td /><td /><td>Inventories are measured at the lower of cost using the FIFO method and net realisable value.</td></tr><tr><td /><td /><td>Cost of lease vehicles returned after termination of agreements comprise the carrying amount of the lease asset at the time of the termination of the agreement. The cost of other vehicles is based on purchase prices. The net realisable value of inventories is calculated as the estimated selling price less completion costs and costs incurred to execute the sale.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Tilgodehavender</td></tr><tr><td colspan="1">Tilgodehavender måles til amortiseret kostpris, der sædvanligvis svarer til nominel værdi, med fradrag af nedskrivninger til imødegåelse af forventede tab.</td></tr><tr><td colspan="1">Andre tilgodehavender</td></tr><tr><td colspan="1">Andre tilgodehavender indregnet under aktiver omfatter indtægter relateret til leasing, som endnu ikke er modtaget, samt brændstof som skal viderefaktureres til vores kunder mm. Andre tilgodehavender måles til amortiseret kostpris, der sædvanligvis svarer til nominel værdi.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Receivables</td></tr><tr><td /><td /><td>Receivables are measured at amortised cost, usually equalling nominal value less provisions for bad debts.</td></tr><tr><td /><td /><td>Receivables, other</td></tr><tr><td /><td /><td>Other receivables are recognized in the balance sheet and comprise revenue from activities related leasing, that has yet not been received, and fuel to be rebilled to our customers etc. Other payables are measured at amortised cost, usually equalling nominal value.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Periodeafgrænsningsposter</td></tr><tr><td colspan="1">Periodeafgrænsningsposter indregnet under aktiver omfatter afholdte omkostninger, der vedrører efterfølgende regnskabsår. Periodeafgræns-ningsposter måles til kostpris.</td></tr></table><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Periodeafgrænsningsposter</td></tr><tr><td colspan="1">Periodeafgrænsningsposter indregnet under forpligtelser omfatter modtagne indtægter til resultatføring i efterfølgende regnskabsår. Periodeafgrænsningsposter måles til kostpris.</td></tr><tr><td colspan="1">Lejede aktiver</td></tr><tr><td colspan="1">Virksomheden har valgt at anvende IFRS 16 til fortolkning af årsregnskabslovens bestemmelser for indregning af leasingaftaler Et leasingaktiv og en leasingforpligtelse indregnes i balancen, når virksomheden i henhold til en indgået leasingaftale vedrørende et specifikt identificerbart aktiv får stillet leasingaktivet til rådighed i leasingperioden, og når virksomheden opnår ret til stort set alle de økonomiske fordele fra brugen af det identificerede aktiv og retten til at bestemme over brugen af det identificerede aktiv. Leasingforpligtelser måles ved første indregning til nutidsværdien af de fremtidige leasingydelser tilbagediskonteret med en alternativ lånerente. Følgende leasingbetalinger indregnes som en del af leasingforpligtelsen</td></tr><tr><td colspan="1">► Faste betalinger. ► Variable betalinger, som ændrer sig i takt med ændringer i et indeks eller en rente, baseret på gældende indeks eller rente. ► Skyldige betalinger under en restværdigaranti. ► Udnyttelsesprisen for købsoptioner, som ledelsen med høj sandsynlighed forventer at udnytte. ► Betalinger omfattet af en forlængelsesoption, som koncernen med høj sandsynlighed forventer at udnytte. ► Bod relateret til en opsigelsesoption, medmindre koncernen med høj sandsynlighed ikke forventer at udnytte optionen.</td></tr><tr><td colspan="1">Leasingforpligtelsen måles til amortiseret kostpris under den effektive rentes metode. Leasingforpligtelsen genberegnes, når der sker ændringer i de underliggende kontraktuelle pengestrømme fra ændringer i et indeks eller en rente, hvis der er ændringer i virksomhedens estimat over en restværdigaranti, eller hvis virksomheden ændrer vurderingen af, om en købs-, forlængelses- eller opsigelsesoption med rimelig sandsynlighed forventes udnyttet. Leasingaktivet måles ved første indregning til kostpris, hvilket svarer til værdien af leasingforpligtelsen korrigeret for forudbetalte leasingbetalinger med tillæg af direkte relaterede omkostninger og estimerede omkostninger til nedrivning, istandsættelse eller lignende og fratrukket modtagne rabatter eller andre former for incitamentsbetalinger fra leasinggiver.</td></tr><tr><td colspan="1">Efterfølgende måles aktivet til kostpris fratrukket akkumulerede af- og nedskrivninger. Leasingaktivet afskrives over den korteste af enten leasingperioden eller leasingaktivets brugstid. Afskrivningerne indregnes lineært i resultatopgørelsen. Leasingaktivet justeres for ændringer i leasingforpligtelsen som følge af ændringer i vilkårene i leasingaftalen eller ændringer i aftalens pengestrømme i takt med ændringer i et indeks eller en rente. Leasingaktiver afskrives lineært over den forventede lejeperiode, der udgør: ► Driftsmateriel 1-5 år ► Salgs- og administrationsejendomme 6-16 år.</td></tr><tr><td colspan="1">Virksomheden har generelt valgt at anvende de praktiske undtagelser i IFRS 16, så leasingaktiver med lav værdi og kortfristede leasingaftaler ikke indregnes i balancen. I stedet indregnes leasingydelser vedrørende disse leasingaftaler lineært i resultatopgørelsen under andre eksterne omkostninger. Virksomheden har valgt ikke at indregne serviceelementer i den kapitaliserede værdi af leasingforpligtelser og leasingaktiver vedrørende salgs- og administrationsejendomme. Service-elementer omkostningsføres derfor løbende under andre eksterne omkostninger i resultatopgørelsen. Virksomheden har modsat valgt at indregne serviceelementer i den kapitaliserede værdi af leasingforpligtelser og leasingaktiver vedrørende driftsmateriel.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Prepayments</td></tr><tr><td /><td /><td>Prepayments comprise incurred costs relating to subsequent financial years. Prepayments are measured at cost.</td></tr></table><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Deferred income</td></tr><tr><td /><td /><td>Deferred income comprises received income for recognition in subsequent financial years. Deferred income is measured at cost.</td></tr><tr><td /><td /><td>Rent of assets</td></tr><tr><td /><td /><td>The company has chosen to apply IFRS 16 for the interpretation of the provisions of the Danish Financial Statements Act for recognition of leasing agreements. A leasing asset and a leasing obligation are recognized in the balance sheet when the company, in accordance with a signed leasing agreement concerning a specifically identifiable asset, has the leasing asset made available during the leasing period, and when the company acquires the right to virtually all the financial benefits from the use of the identified asset and the right to decide on the use of the identified asset. Leasing obligations are measured on initial recognition at the present value of the future leasing services discounted with an alternative mortage rate. The following lease payments are recognized as part of the leasing obligation</td></tr><tr><td /><td /><td>► Fixed payments ► Variable payments that change concurrently with changes in an index or an interest rate, based on the applicable index or interest rate ► Outstanding payments under a residual value guarantee ► The exercise price for call options that management most likely expects to exercise ► Payments covered by an extention option, which the Group is highly likely to exercise ► Penalties related to a termination option, unless the Group in all probability does not expect to exercise the option.</td></tr><tr><td /><td /><td>The leasing obligation is measured at amortized cost using the effective interest rate method. The lease obligation is recalculated when there are changes in the underlying contractual cash flows from changes in an index or an interest rate, if there are changes in the company's estimate of a residual value guarantee, or if the company changes the assessment of whether a purchase, extension or termination option in all probability is expected to be exercised. The leasing asset is measured on initial recognition at cost, which corresponds to the value of the leasing obligation adjusted for prepaid leasing payments plus direct related costs and estimated costs for demolition, repairs or the like and less discounts received or other forms of incentive payments from the lessor.</td></tr><tr><td /><td /><td>Subsequently, the asset is measured at cost less accumulated amortization and depreciation. The leasing asset is depreciated over the shorter of either the leasing period or the leasing asset's useful life. Depreciation is added in on a straight-line basis in the income statement. The leasing asset is adjusted for changes in the leasing obligation as a result of changes in the terms of the leasing agreement or changes in the agreement's cash flows in line with changes in an index or an interest rate. Leasing assets are amortized on a straight-line basis over the expected lease period, which amounts to: ► Operating equipment 1-5 years ► Sales and administation properties 6-16 years.</td></tr><tr><td /><td /><td>The company has generally chosen to apply the practical exceptions in IFRS 16, so that low-value leasing assets and short-term leasing agreements are not recognized on a straight-line basis in the income statement under other external costs. The company has chosen not to recognize service elements in the capitalized value of leasing obligations and leasing assets relating to sales and administration properties. Service elements are therefore expensed on an ongoing basis under other external costs in the income statement. On the contrary, the company has chosen to recognize service elements in the capitalized value of leasing obligations and leasing assets relating to operating equipment.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Udbytte</td></tr><tr><td colspan="1">Udbytte indregnes som en gældsforpligtelse på tidspunktet for vedtagelse på generalforsamlingen. Det foreslåede udbytte for regnskabsåret vises som en særskilt post under egenkapitalen.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Dividends</td></tr><tr><td /><td /><td>Dividends are recognised as a liability at the time of adoption at the general meeting. The proposed dividends for the financial year are disclosed as a separate item in equity.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Andre finansielle forpligtelser</td></tr><tr><td colspan="1">Andre finansielle forpligtelser måles til amortiseret kostpris, der sædvanligvis svarer til nominel værdi.</td></tr></table><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Anden gæld</td></tr><tr><td colspan="1">Anden gæld indregnet under passiver omfatter skyldig registreringsafgift, hensættelse til netto underkilometer udbetaling, bonus og andre medarbejder relaterede hensættelser mm. Anden gæld måles til forventet kostpris.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Other financial liabilities</td></tr><tr><td /><td /><td>Other financial liabilities are measured at amortised cost which usually corresponds to nominal value.</td></tr></table><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Other payables</td></tr><tr><td /><td /><td>Other payables are recognized in the balance sheet and comprise payable registration tax, accrual for net under mileage payout, bonus and other employee related accruals etc. Other payables are measured at expected cost.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Pengestrømsopgørelsen</td></tr><tr><td colspan="1">Pengestrømsopgørelsen præsenteres efter den indirekte metode og viser pengestrømme vedrørende drift, investeringer og finansiering samt selskabets likvider ved årets begyndelse og slutning.</td></tr><tr><td colspan="1">Pengestrømme vedrørende driftsaktiviteter opgøres som driftsresultatet reguleret for ikke-kontante driftsposter, ændring i driftskapital samt betalt selskabsskat.</td></tr><tr><td colspan="1">Pengestrømme vedrørende investeringsaktiviteter omfatter betalinger i forbindelse med køb og salg af finansielle anlægsaktiver samt køb og salg af materielle anlægsaktiver.</td></tr><tr><td colspan="1">Pengestrømme vedrørende finansieringsaktiviteter omfatter ændringer i størrelse eller sammensætning af selskabets aktiekapital og omkostninger forbundet hermed samt optagelse af lån og afdrag på rentebærende gæld. Likvider omfatter likvide beholdninger med fradrag af kortfristet bankgæld.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td /><td>Cash flow statement</td></tr><tr><td /><td /><td>The cash flow statement is presented using the indirect method and shows cash flows from operating, investing and financing activities as well as the Company’s cash and cash equivalents at the beginning and the end of the financial year.</td></tr><tr><td /><td /><td>Cash flows from operating activities are calculated as the operating profit/loss adjusted for non-cash operating items, working capital changes and income taxes paid.</td></tr><tr><td /><td /><td>Cash flows from investing activities comprise payments in connection with acquisition and divestment of fixed asset investments as well as purchase and sale of intangible assets and property, plant and equipment.</td></tr><tr><td /><td /><td>Cash flows from financing activities comprise changes in the size or composition of the Company’s share capital and related costs as well as the raising of loans and instalments on interest-bearing debt. Cash and cash equivalents comprise cash and short-term securities with an insignificant price risk less short-term bank debt.</td></tr></table> Årsrapport 30700228 EY Godkendt Revisionspartnerselskab Cortex Park Vest 3 5230 Odense M xWizard version 1.1.1165.0, by EasyX Aps. www.easyx.eu 2021-01-01 2021-12-31 Revisionspåtegning Grundlag for konklusion Konklusion Nettoomsætning 1906000000 Nettoomsætning 1716000000 Nettoomsætning 1686000000 Nettoomsætning 1669000000 Nettoomsætning 1644000000 Nettoomsætning 1390000000 Nettoomsætning 1271000000 Nettoomsætning 1258000000 Bruttoresultat 326000000 Bruttoresultat 323000000 Bruttoresultat 281000000 Bruttoresultat 308000000 Bruttoresultat 331000000 Bruttoresultat 238000000 Bruttoresultat 236000000 Bruttoresultat 218000000 Resultat før finansielle poster 196000000 Resultat før finansielle poster 196000000 Resultat før finansielle poster 157000000 Resultat før finansielle poster 195000000 Resultat før finansielle poster 220000000 Resultat før finansielle poster 142000000 Resultat før finansielle poster 141000000 Resultat før finansielle poster 132000000 Finansielle omkostninger (netto) 16000000 Finansielle omkostninger (netto) 5000000 Finansielle omkostninger (netto) 5000000 Finansielle omkostninger (netto) 2000000 Finansielle omkostninger (netto) 6000000 Finansielle omkostninger (netto) 11000000 Finansielle omkostninger (netto) 2000000 Finansielle omkostninger (netto) 1000000 Årets resultat 139000000 Årets resultat 151000000 Årets resultat 112000000 Årets resultat 149000000 Årets resultat 156000000 Årets resultat 139000000 Årets resultat 151000000 Årets resultat 133000000 Balancesum 4379000000 Balancesum 4195000000 Balancesum 4116000000 Balancesum 3649000000 Balancesum 3637000000 Balancesum 3387000000 Balancesum 3374000000 Balancesum 3186000000 Materielle anlægsaktiver 3792000000 Materielle anlægsaktiver 3585000000 Materielle anlægsaktiver 3489000000 Materielle anlægsaktiver 2931000000 Materielle anlægsaktiver 2789000000 Materielle anlægsaktiver 2810000000 Materielle anlægsaktiver 2704000000 Materielle anlægsaktiver 2495000000 Egenkapital 415000000 Egenkapital 810000000 Egenkapital 769000000 Egenkapital 803000000 Egenkapital 844000000 Egenkapital 394000000 Egenkapital 775000000 Egenkapital 762000000 - driftsaktivitet 1208000000 - driftsaktivitet 993000000 - driftsaktivitet 949000000 - driftsaktivitet 979000000 - driftsaktivitet 896000000 - driftsaktivitet 950000000 - driftsaktivitet 695000000 - driftsaktivitet 710000000 - investeringsaktivitet -1259000000 - investeringsaktivitet -979000000 - investeringsaktivitet -1002000000 - investeringsaktivitet -817000000 - investeringsaktivitet -681000000 - investeringsaktivitet -845000000 - investeringsaktivitet -616000000 - investeringsaktivitet -751000000 - heraf materielle anlægsaktiver -1266000000 - heraf materielle anlægsaktiver -979000000 - heraf materielle anlægsaktiver -964000000 - heraf materielle anlægsaktiver -820000000 - heraf materielle anlægsaktiver -683000000 - heraf materielle anlægsaktiver -944000000 - heraf materielle anlægsaktiver -648000000 - heraf materielle anlægsaktiver -783000000 - finansieringsaktivitet 50000000 - finansieringsaktivitet -14000000 - finansieringsaktivitet 54000000 - finansieringsaktivitet -155000000 - finansieringsaktivitet -200000000 - finansieringsaktivitet -105000000 - finansieringsaktivitet -81000000 - finansieringsaktivitet 43000000 Årets forskydning i likvider -1000000 Årets forskydning i likvider 0 Årets forskydning i likvider 0 Årets forskydning i likvider 7000000 Årets forskydning i likvider 16000000 Årets forskydning i likvider -1000000 Årets forskydning i likvider -1000000 Årets forskydning i likvider 2000000 144 0.1879 0.1144 0.0468 0.1931 0.189 144 0.1667 0.0933 0.0382 0.1867 0.189 149 0.1848 0.1171 0.0535 0.22 0.189 146 0.2016 0.1336 0.0604 0.232 0.193 135 0.1713 0.1021 0.0419 0.1164 0.428 135 0.1858 0.1106 0.0417 0.2297 0.478 143 0.1734 0.1051 0.0415 0.2391 0.174 1716336 1393833 322502 59646 66456 196400 7672 12436 191635 31984 159651 911592 -68384 1002859 8707 8234 9598 992788 -1611441 632254 48 -979139 -1888445 1992697 -13748 -99 5697 1975 11857 580 20009 12012 -38 88400 7343 1070 96813 144 962 962 1389529 1151435 238094 48778 47476 141840 33198 5791 17139 163691 24476 139214 520000 869414 -31109 977519 18562 7210 16173 949994 -1278327 333903 6958 92000 -845466 -1244405 1659279 -105126 -599 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="16" align="left" valign="middle" ><b>Noter</b></td></tr><tr><td colspan="16"></td></tr><tr><td width="2%" ></td><td width="15%" ></td><td width="1%" ></td><td width="9%" ></td><td width="1%" ></td><td width="9%" ></td><td width="1%" ></td><td width="9%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" align="center" valign="middle" >2022</td><td width="1%" ></td><td width="19%" align="center" valign="middle" >2021</td></tr><tr><td colspan="16"></td></tr><tr><td width="2%" ></td><td width="15%" ></td><td width="1%" ></td><td width="9%" ></td><td width="1%" ></td><td width="9%" ></td><td width="1%" ></td><td width="9%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" colspan="1" align="center" valign="middle" >DKK ’000</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="19%" colspan="1" align="center" valign="middle" >DKK ’000</td></tr><tr><td width="2%" ></td><td width="98%" colspan="15" align="left" valign="middle" ><b>Segmentoplysninger</b></td></tr><tr><td width="2%" ></td><td width="98%" colspan="15" align="left" valign="middle" ><b>Revenue</b></td></tr><tr><td colspan="16"></td></tr><tr><td width="2%" ></td><td width="98%" colspan="15" align="left" valign="middle" >Nettoomsætningens fordeling på markeder</td></tr><tr><td width="2%" ></td><td width="98%" colspan="15" align="left" valign="middle" >Segmentation of revenue on geographical area</td></tr><tr><td colspan="16"></td></tr><tr><td width="2%" ></td><td width="68%" colspan="12" align="left" valign="middle" >Danmark</td><td width="10%" align="right" valign="middle" ><b> 1.389.529 </b></td><td width="1%" ></td><td width="19%" align="right" valign="middle" ><b> 1.270.879 </b></td></tr><tr><td colspan="16"></td></tr><tr><td width="2%" ></td><td width="98%" colspan="15" align="left" valign="middle" >Denmark</td></tr><tr><td colspan="16"></td></tr><tr><td width="2%" ></td><td width="98%" colspan="15" align="left" valign="middle" >Nettoomsætningens fordeling på aktiviteter</td></tr><tr><td width="2%" ></td><td width="98%" colspan="15" align="left" valign="middle" >Segmentation of revenue on activity</td></tr><tr><td colspan="16"></td></tr><tr><td width="2%" ></td><td width="68%" colspan="12" align="left" valign="middle" >Indtægter ved indgåelse af leasingaftaler</td><td width="10%" align="right" valign="middle" > 1.315.958 </td><td width="1%" ></td><td width="19%" align="right" valign="middle" > 1.186.198 </td></tr><tr><td width="2%" ></td><td width="98%" colspan="15" align="left" valign="middle" >Income from lease agreements</td></tr><tr><td width="2%" ></td><td width="68%" colspan="12" align="left" valign="middle" >Nettogevinst/-tab ved salg af brugte biler</td><td width="10%" align="right" valign="middle" > 73.571 </td><td width="1%" ></td><td width="19%" align="right" valign="middle" > 84.681 </td></tr><tr><td width="2%" ></td><td width="98%" colspan="15" align="left" valign="middle" >Net profit/loss from the sale of used cars</td></tr><tr><td colspan="16"></td></tr><tr><td width="2%" ></td><td width="68%" colspan="12" align="left" valign="middle" >nettoomsætning i alt</td><td width="10%" align="right" valign="middle" ><b> 1.389.529 </b></td><td width="1%" ></td><td width="19%" align="right" valign="middle" ><b> 1.270.879 </b></td></tr><tr><td colspan="16"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Finansielle anlægsaktiver</td></tr></table><br><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Finansielle anlægsaktiver</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="15" align="left" valign="middle" >Nærtstående parter</td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Kapitalandele i tilknyttede virksomheder specificeres således: (DKK 1.000)</td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Investments in group enterprices are specified as follows</td></tr><tr><td colspan="15"></td></tr><tr><td width="16%" colspan="2" align="left" valign="middle" >Navn</td><td width="10%" colspan="1" align="center" valign="middle" >Hjemsted</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >Ejerandel</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >Selskabs-</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >Egen-</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >Årets</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" ></td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="18%" colspan="1" align="center" valign="middle" ></td></tr><tr><td width="15%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" colspan="1" align="center" valign="middle" >i %</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >kapital</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >kapital</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >resultat</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" ></td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="18%" colspan="1" align="center" valign="middle" ></td></tr><tr><td width="16%" colspan="2" align="left" valign="middle" >Name</td><td width="10%" colspan="1" align="center" valign="middle" >registered</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >% of</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >Share</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >Equity</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >Profit for</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" ></td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="18%" colspan="1" align="center" valign="middle" ></td></tr><tr><td width="15%" ></td><td width="1%" ></td><td width="10%" colspan="1" align="center" valign="middle" >office</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >ownership</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >capital</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" ></td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >the year</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" ></td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="18%" colspan="1" align="center" valign="middle" ></td></tr><tr><td colspan="15"></td></tr><tr><td width="16%" colspan="2" align="left" valign="middle" >NF Fleet A/S</td><td width="11%" colspan="2" align="left" valign="middle" >Høje Taastrup</td><td width="10%" align="right" valign="middle" > 80 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 13.000 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 103.000 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 41.498 </td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="18%" ></td></tr><tr><td colspan="15"></td></tr><tr><td width="15%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" colspan="1" align="center" valign="middle" >Egen-</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >Resultat</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >Årets</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" ></td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="18%" colspan="1" align="center" valign="middle" ></td></tr><tr><td width="15%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" colspan="1" align="center" valign="middle" >kapital</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >før skat</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >resultat</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" ></td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="18%" colspan="1" align="center" valign="middle" ></td></tr><tr><td width="15%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" colspan="1" align="center" valign="middle" >Equity</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >Profit</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >Profit for</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" ></td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="18%" colspan="1" align="center" valign="middle" ></td></tr><tr><td width="15%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" colspan="1" align="center" valign="middle" >before tax</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >the year</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" ></td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="18%" colspan="1" align="center" valign="middle" ></td></tr><tr><td colspan="15"></td></tr><tr><td width="38%" colspan="6" align="left" valign="middle" >ALD Automotive A/S´s andel</td><td width="10%" align="right" valign="middle" > 82.400 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 38.876 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 33.198 </td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="18%" ></td></tr><tr><td colspan="15"></td></tr><tr><td width="15%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" align="center" valign="middle" >2022</td><td width="1%" ></td><td width="18%" align="center" valign="middle" >2021</td></tr><tr><td colspan="15"></td></tr><tr><td width="15%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" colspan="1" align="center" valign="middle" >DKK ’000</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="18%" colspan="1" align="center" valign="middle" >DKK ’000</td></tr></table><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>.Nærtstående parter</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Related parties</b></td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Société Générale, Frankrig har som det ultimative moderselskab den bestemmende ind-</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >flydelse over selskabet.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Société Générale, France has as the ultimative parent company the controlling interest in</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >the company.</td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Transaktioner</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Transactions</b></td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Selskabet har ingen transaktioner med nærtstående parter, bortset fra koncerninterne trans-</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >aktioner der er elimineret i koncernregnskabet for Société Générale, Frankrig. Der er ikke givet oplysninger vedrørende</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >transaktioner med nærtstående parter ÅRL § 98c</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The company has no transactions with related parties except for intercompany transactions</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >which have been eliminated in the consolidated financial statements of Société Générale, France. There isn't any information regarding</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >transactions between group enterprices ÅRL § 98c</td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Selskabets mellemregninger med koncernselskaber forrentes på markedsmæssige vilkår.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The companys transactions with group companies carries interest on market terms.</td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Herudover er der ikke i året løb bortset fra normalt ledelsesvederlag været transaktioner med</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >bestyrelse, direktion, aktionærer og tilknyttede virksomheder, som ikke fremgår af årsrapportens</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >øvrige oplysninger.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Apart from the above, except for normal management remuneration, there have been no transactions</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >with the Supervisory Board, the Executive Board, Shareholders or group enterprises which have</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >not been disclosed in the Annual Report.</td></tr><tr><td colspan="1"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Finansielle indtægter</td></tr></table><br><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>finansielle indtægter i alt</td><td /><td /><td /><td /><td /><td /><td /><td>6.449</td><td /><td>7.672</td><td /><td>5.791</td><td /><td>7.130</td></tr></table> 3833 1958 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Finansielle omkostninger</td></tr></table> 16650 489 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Selskabsskat</td></tr></table><br><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Skat af årets resultat fremkommer således</td></tr></table><br><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Beregnet 22% skat af årets resultat før skat</td><td /><td /><td /><td /><td /><td /><td /><td>39.399</td><td /><td>42.160</td><td /><td>28.708</td><td /><td>30.390</td></tr></table><br><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Afskrivningslovens §5D</td><td /><td /><td /><td /><td /><td /><td /><td>-7.979</td><td /><td>-10.148</td><td /><td>-4.235</td><td /><td>-6.692</td></tr></table><br><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Skatteeffekt af</td></tr></table><br><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Ikke fradragsberettigede omkostninger i øvrigt</td><td /><td /><td /><td /><td /><td /><td /><td>16</td><td /><td>10</td><td /><td>11</td><td /><td>8</td></tr></table><br><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Afstemning af årets skat</td><td /><td /><td /><td /><td /><td /><td /><td>0</td><td /><td>0</td><td /><td>-</td><td /><td>0</td></tr></table> 17043 7441 -8 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Resultatdisponering</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Immaterielle anlægsaktiver</td></tr></table><br><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Immaterielle anlægsaktiver</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="15"></td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" ><b>Materielle anlægsaktiver og varebeholdninger</b></td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" ><b>Property, plant and equipment and inventory</b></td></tr><tr><td colspan="15"></td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Regnskabsårets investeringer i og afskrivninger på materielle anlægsaktiver samt</td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >varebeholdninger specificeres således</td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Investments in and depreciation of property, plant and equipment and inventory are specified as follows</td></tr><tr><td colspan="15"></td></tr><tr><td width="15%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" colspan="1" align="center" valign="middle" >Ejendomme</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >Leasing aktiver</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >Driftsmateriel og inventar</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="18%" colspan="1" align="center" valign="middle" >Varelager</td></tr><tr><td width="15%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" colspan="1" align="center" valign="middle" >Properties</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >Lease assets</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >Fixtures, fittings and equipment</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="18%" colspan="1" align="center" valign="middle" >Inventories</td></tr><tr><td colspan="15"></td></tr><tr><td width="15%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" colspan="1" align="center" valign="middle" >DKK ’000</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >DKK ’000</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" >DKK ’000</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="18%" colspan="1" align="center" valign="middle" >DKK ’000</td></tr><tr><td colspan="15"></td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" >Kostpris 1. januar 2022</td><td width="10%" align="right" valign="middle" > 25.027 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 4.139.692 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 97.970 </td><td width="1%" ></td><td width="18%" align="right" valign="middle" > 61.066 </td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Cost at 1 January</td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" >Tilgang</td><td width="10%" align="right" valign="middle" > 13.701 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 1.209.930 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 40.808 </td><td width="1%" ></td><td width="18%" align="right" valign="middle" > 437.895 </td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Additions</td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" >Afgang</td><td width="10%" align="right" valign="middle" > - </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > - </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > (21.668)</td><td width="1%" ></td><td width="18%" align="right" valign="middle" > (1.362.905)</td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Disposals</td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" >Overført i året</td><td width="10%" align="right" valign="middle" > - </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > (947.393)</td><td width="1%" ></td><td width="10%" align="right" valign="middle" > - </td><td width="1%" ></td><td width="18%" align="right" valign="middle" > 947.393 </td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Transfers</td></tr><tr><td colspan="15"></td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" ><b>Kostpris 31.december 2022</b></td><td width="10%" align="right" valign="middle" ><b> 38.729 </b></td><td width="1%" ></td><td width="10%" align="right" valign="middle" ><b> 4.402.230 </b></td><td width="1%" ></td><td width="10%" align="right" valign="middle" ><b> 117.109 </b></td><td width="1%" ></td><td width="18%" align="right" valign="middle" ><b> 83.449 </b></td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" ><b>Cost at 31 December</b></td></tr><tr><td colspan="15"></td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" >Afskrivninger 1. januar 2022</td><td width="10%" align="right" valign="middle" > 13.970 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 1.493.766 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 50.758 </td><td width="1%" ></td><td width="18%" align="right" valign="middle" > 3.444 </td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Depreciation at 1 January</td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" >Af- og nedskrivninger</td><td width="10%" align="right" valign="middle" > 5.051 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 715.553 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 40.174 </td><td width="1%" ></td><td width="18%" align="right" valign="middle" > (334)</td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Depreciation and write down</td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" >Afgang</td><td width="10%" align="right" valign="middle" > - </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > - </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > (15.848)</td><td width="1%" ></td><td width="18%" align="right" valign="middle" > (555.223)</td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Disposals</td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" >Overført i året</td><td width="10%" align="right" valign="middle" > - </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > (555.223)</td><td width="1%" ></td><td width="10%" align="right" valign="middle" > - </td><td width="1%" ></td><td width="18%" align="right" valign="middle" > 555.223 </td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Transfers</td></tr><tr><td colspan="15"></td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" ><b>Afskrivninger 31. december 2022</b></td><td width="10%" align="right" valign="middle" ><b> 19.020 </b></td><td width="1%" ></td><td width="10%" align="right" valign="middle" ><b> 1.654.097 </b></td><td width="1%" ></td><td width="10%" align="right" valign="middle" ><b> 75.084 </b></td><td width="1%" ></td><td width="18%" align="right" valign="middle" ><b> 3.110 </b></td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" ><b>Depreciation at 31 December</b></td></tr><tr><td colspan="15"></td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" ><b>Regnskabsmæssig</b></td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" ><b>værdi 31. december 2022</b></td><td width="10%" align="right" valign="middle" ><b> 19.708 </b></td><td width="1%" ></td><td width="10%" align="right" valign="middle" ><b> 2.748.133 </b></td><td width="1%" ></td><td width="10%" align="right" valign="middle" ><b> 42.026 </b></td><td width="1%" ></td><td width="18%" align="right" valign="middle" ><b> 80.339 </b></td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" ><b>Carrying amount at 31 December</b></td></tr><tr><td colspan="15"></td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Af- og nedskrivninger på materielle anlægsaktiver er omkostningsført således</td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Depreciation and writedown of property, plant and equipment are expensed as follows</td></tr><tr><td colspan="15"></td></tr><tr><td width="15%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" align="center" valign="middle" >2022</td><td width="1%" ></td><td width="18%" align="center" valign="middle" >2021</td></tr><tr><td colspan="15"></td></tr><tr><td width="15%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" colspan="1" align="center" valign="middle" >DKK ’000</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="18%" colspan="1" align="center" valign="middle" >DKK ’000</td></tr><tr><td colspan="15"></td></tr><tr><td width="71%" colspan="12" align="left" valign="middle" >Produktionsomkostninger</td><td width="10%" align="right" valign="middle" > 715.553 </td><td width="1%" ></td><td width="18%" align="right" valign="middle" > 710.247 </td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Production costs</td></tr><tr><td width="71%" colspan="12" align="left" valign="middle" >Administrationsomkostninger</td><td width="10%" align="right" valign="middle" > 45.225 </td><td width="1%" ></td><td width="18%" align="right" valign="middle" > 32.708 </td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Administrative expenses</td></tr><tr><td width="71%" colspan="12" align="left" valign="middle" >Varelager nedskrivning</td><td width="10%" align="right" valign="middle" > (334)</td><td width="1%" ></td><td width="18%" align="right" valign="middle" > 3.444 </td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Stock writedown</td></tr><tr><td colspan="15"></td></tr><tr><td width="15%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" align="right" valign="middle" ><b> 760.444 </b></td><td width="1%" ></td><td width="18%" align="right" valign="middle" ><b> 746.398 </b></td></tr><tr><td colspan="15"></td></tr></table><br><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>.Administrationsomkostninger</td><td /><td /><td /><td /><td /><td /><td /><td>58.080</td><td /><td>37.913</td><td /><td>58.080</td><td /><td>37.913</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="15" align="left" valign="middle" ><b>Anden gæld</b></td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" ><b>Other payables</b></td></tr><tr><td colspan="15"></td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Anden gæld specificeres således</td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Other payables are specified as follows</td></tr><tr><td colspan="15"></td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" >Skyldige personskatter m.v.</td><td width="10%" align="right" valign="middle" > (827)</td><td width="1%" ></td><td width="10%" align="right" valign="middle" > (39)</td><td width="1%" ></td><td width="10%" align="right" valign="middle" > (800)</td><td width="1%" ></td><td width="18%" align="right" valign="middle" > (41)</td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Accrued personal income taxes, etc</td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" >Feriepengeforpligtelse</td><td width="10%" align="right" valign="middle" > 6.676 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 14.783 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 6.125 </td><td width="1%" ></td><td width="18%" align="right" valign="middle" > 13.693 </td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Accrued holiday pay</td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" >Anden gæld</td><td width="10%" align="right" valign="middle" > 137.025 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 119.958 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 107.005 </td><td width="1%" ></td><td width="18%" align="right" valign="middle" > 93.306 </td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Other payables</td></tr><tr><td colspan="15"></td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" >anden gæld i alt</td><td width="10%" align="right" valign="middle" ><b> 142.874 </b></td><td width="1%" ></td><td width="10%" align="right" valign="middle" ><b> 134.702 </b></td><td width="1%" ></td><td width="10%" align="right" valign="middle" ><b> 112.330 </b></td><td width="1%" ></td><td width="18%" align="right" valign="middle" ><b> 106.958 </b></td></tr><tr><td colspan="15"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Medarbejderforhold</td></tr></table><br><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>og er omkostningsført således</td></tr></table> 85562 7259 1749 94571 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Løn og gager til direktion og bestyrelse vises ikke for koncernen jf. Årsregnskabslovens § 98b stk 3.</td></tr></table> 141 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Honorar til generalforsamlingsvalgt revisor</td></tr></table> 694 694 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Koncernforhold</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Group matters</b></td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Selskabets aktiekapital på TDKK 190.000 ejes 100% af ALD International GmbH, Tyskland.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The company`s sharecapital of kDDK 190,000 is wholly owned by ALD International GmbH, Germany.</td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Selskabets ultimative moderselskab, som udarbejder koncernårsrapport hvori selskabet indgår som</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >dattervirksomhed, er Société Générale, Frankrig.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The company´s ultimate parent company which prepares group annual report in which the company is</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >included as a subsidiary, is Société Générale, France.</td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Koncernårsrapporten for det ultimative moderselskab kan rekvireres på følgende adresse</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The group annual report of the ultimate parent company can be obtained at the following address</td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Société Générale, Tour Société Générale, 92972 Paris La Defense Cedex, Frankrig</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Société Générale, Tour Société Générale, 92972 Paris La Defense Cedex, France</td></tr><tr><td colspan="1"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="15"></td></tr><tr><td width="15%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" align="center" valign="middle" >2022</td><td width="1%" ></td><td width="18%" align="center" valign="middle" >2021</td></tr><tr><td colspan="15"></td></tr><tr><td width="15%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" ></td><td width="1%" ></td><td width="10%" colspan="1" align="center" valign="middle" >DKK ’000</td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="18%" colspan="1" align="center" valign="middle" >DKK ’000</td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" ><b>Reguleringer (pengestrømsopgørelsen)</b></td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" ><b>Adjustments (cash flow statement)</b></td></tr><tr><td colspan="15"></td></tr><tr><td width="71%" colspan="12" align="left" valign="middle" >Årets afskrivninger på immaterielle og materielle anlægsaktiver</td><td width="10%" align="right" valign="middle" > 873.618 </td><td width="1%" ></td><td width="18%" align="right" valign="middle" > 667.829 </td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >inklusive avance og tab ved salg af anlægsaktiver</td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Depreciation of intangible assets and property, plant and equipment</td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >for the year including gain and loss on sale of fixed assets</td></tr><tr><td width="71%" colspan="12" align="left" valign="middle" >Øvrige driftsposter netto</td><td width="10%" align="right" valign="middle" > (1.160)</td><td width="1%" ></td><td width="18%" align="right" valign="middle" > 4.193 </td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Other net operating items</td></tr><tr><td width="71%" colspan="12" align="left" valign="middle" >Andel i tilknyttede virksomheders resultat før skat</td><td width="10%" align="right" valign="middle" > (38.876)</td><td width="1%" ></td><td width="18%" align="right" valign="middle" > (42.801)</td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Income from investments in group enterprices before tax</td></tr><tr><td width="71%" colspan="12" align="left" valign="middle" >Finansielle indtægter</td><td width="10%" align="right" valign="middle" > (5.791)</td><td width="1%" ></td><td width="18%" align="right" valign="middle" > (7.130)</td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Financial income</td></tr><tr><td width="71%" colspan="12" align="left" valign="middle" >Finansielle omkostninger</td><td width="10%" align="right" valign="middle" > 17.139 </td><td width="1%" ></td><td width="18%" align="right" valign="middle" > 9.522 </td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Financial expenses</td></tr><tr><td width="71%" colspan="12" align="left" valign="middle" >Skat af årets resultat</td><td width="10%" align="right" valign="middle" > 24.484 </td><td width="1%" ></td><td width="18%" align="right" valign="middle" > 23.706 </td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Tax on the profit/(loss) for the year</td></tr><tr><td colspan="15"></td></tr><tr><td width="71%" colspan="12" align="left" valign="middle" >reguleringer i alt</td><td width="10%" align="right" valign="middle" ><b> 869.414 </b></td><td width="1%" ></td><td width="18%" align="right" valign="middle" ><b> 655.319 </b></td></tr><tr><td colspan="15"></td></tr></table><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="15" align="left" valign="middle" ><b>Ændring i driftskapital (pengestrømsopgørelsen)</b></td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" ><b>Change in working capital (cash flow statement)</b></td></tr><tr><td colspan="15"></td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" >Ændring i varebeholdninger</td><td width="10%" align="right" valign="middle" > (29.033)</td><td width="1%" ></td><td width="10%" align="right" valign="middle" > (5.837)</td><td width="1%" ></td><td width="10%" align="right" valign="middle" > (22.383)</td><td width="1%" ></td><td width="18%" align="right" valign="middle" > (645)</td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Change in inventories</td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" >Ændring i tilgodehavender</td><td width="10%" align="right" valign="middle" > 2.626 </td><td width="1%" ></td><td width="10%" align="right" valign="middle" > (12.817)</td><td width="1%" ></td><td width="10%" align="right" valign="middle" > 13.809 </td><td width="1%" ></td><td width="18%" align="right" valign="middle" > (39.092)</td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Change in receivables</td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" >Ændring i leverandører af varer og tjenesteydelser og anden gæld</td><td width="10%" align="right" valign="middle" > (26.241)</td><td width="1%" ></td><td width="10%" align="right" valign="middle" > (49.731)</td><td width="1%" ></td><td width="10%" align="right" valign="middle" > (22.535)</td><td width="1%" ></td><td width="18%" align="right" valign="middle" > (67.772)</td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Change in trade payables and other payables</td></tr><tr><td width="100%" colspan="15" align="left" valign="middle" >Change in trade payables and other debt</td></tr><tr><td width="49%" colspan="8" align="left" valign="middle" ><b>ændring i driftskapital i alt</b></td><td width="10%" align="right" valign="middle" ><b> (52.648)</b></td><td width="1%" ></td><td width="10%" align="right" valign="middle" ><b> (68.384)</b></td><td width="1%" ></td><td width="10%" align="right" valign="middle" ><b> (31.109)</b></td><td width="1%" ></td><td width="18%" align="right" valign="middle" ><b> (107.509)</b></td></tr><tr><td colspan="15"></td></tr></table> 1270879 1034710 236169 51883 43759 140526 36140 7130 9522 174274 23658 150616 655319 -107509 698427 2173 8234 9585 694903 -1136495 488684 48 32000 -615763 -1567795 1597267 -80529 -1389 5548 1582 9232 290 16676 7030 -48 82303 6793 1006 90101 135 697 697 43386 43386 660 3771416 19708 3791784 30689 30689 3865859 105569 183593 160815 56246 400654 7107 513330 4379188 190000 43386 30780 130000 20600 414765 87442 87442 2779930 41047 14847 2835824 14336 4659 83723 610255 1245 142874 184064 1041157 3876981 4379188 7106 34682 34682 3398 3570146 11058 3584602 40110 40110 3659394 76364 165813 220649 0 64634 451097 8546 536007 4195400 190000 34682 30268 520000 35300 810252 75909 75909 2240988 40954 6783 2288725 21726 4007 100368 571740 3237 134700 184736 1020514 3309240 4195400 8546 43386 43386 42026 2748133 19708 2809867 82400 23152 105552 2958805 80339 143536 151791 1615 43869 340811 6657 427807 3386611 190000 43386 27120 3660 130000 394166 71890 71890 2180024 30054 34866 2244944 14336 26005 50041 344522 112330 128377 675612 2920556 3386611 6657 34682 34682 47212 2645926 11058 2704196 141202 30110 171312 2910190 57622 134847 213247 96 50697 398887 7255 463764 3373954 190000 34682 25922 4347 520000 774951 64449 64449 1757821 30423 31863 1820108 21721 22741 76353 351364 106958 135310 714446 2534553 3373954 7255 190000 34682 30269 520000 35300 810252 8546 520000 -130000 23000 139214 8300 8704 -8704 130000 190000 43386 30780 130000 20600 190000 34682 25922 4347 520000 774951 7255 520000 -130000 139214 8704 -8704 -33198 32000 130000 33198 -32000 190000 43386 27120 3660 130000 Årets resultat 147514 Årets resultat 159651 Årets resultat 139214 Årets resultat 150616 Udbetaling af udbytte 543000 Udbetaling af udbytte 118000 Udbetaling af udbytte 520000 Udbetaling af udbytte 110000 8644 8644 23280 117922 23280 113782 23280 59120 82400 23280 117922 141202 33198 92000 36140 32000 -9035 -8704 -6893 -8704 -6893 -1198 87860 160780 550269 133660 524347 130000 520000 130000 520000 40793 6111 13518 4814 54311 10926 40793 6111 13518 4814 54311 10926 40110 40158 30110 30158 9421 48 6958 48 30689 40110 23152 30110 Hadrien Georges Claude Boisseau Miel Frans G Horsten Formand Pekka Tapani Kivinen John Saffrett EY Godkendt Revisionspartnerselskab 30700228 Thomas Hjortkjær Petersen statsaut. revisor mne33748 EY Godkendt Revisionspartnerselskab Thomas Hjortkjær Petersen statsaut. revisor mne33748 30700228