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2023-01-01 2023-12-31 fsa:DepositsLongtermInvestmentsAndReceivablesMember 87573613 2022-01-01 2022-12-31 fsa:DepositsLongtermInvestmentsAndReceivablesMember 87573613 2023-12-31 fsa:DepositsLongtermInvestmentsAndReceivablesMember cmn:ConsolidatedMember 87573613 2022-12-31 fsa:DepositsLongtermInvestmentsAndReceivablesMember cmn:ConsolidatedMember 87573613 2023-12-31 fsa:DepositsLongtermInvestmentsAndReceivablesMember 87573613 2022-12-31 fsa:DepositsLongtermInvestmentsAndReceivablesMember 87573613 2022-01-01 cmn:ConsolidatedMember 87573613 2022-01-01 87573613 2023-01-01 2023-12-31 cmn:ConsolidatedMember 0 iso4217:DKK xbrli:pure 2023-01-01 2023-12-31 ALD Automotive A/S Helgeshøj Allé 34 DK-2630 Taastrup www.aldautomotive.dk Tel: +45 33 55 80 00 87573613 Nordea Danmark, Filial af Nordea Bank Abp, Finland Société Générale 2024-04-02 Miel Frans G Horsten <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">Bestyrelsen og direktionen har dags dato behandlet og godkendt årsrapporten for regnskabsåret 1. januar - 31. december 2023 for 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>The Board of Directors and the Executive Board have today considered and approved the annual report of ALD Automotive A/S for the financial year 1 January to 31 December 2023.</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>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 2023 samt af resultatet af selskabets aktiviteter for regnskabsåret 1. januar - 31. december 2023.</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>In our opinion, the financial statements give a true and fair view of the Company’s financial position at 31 December 2023 and of its financial performance for the financial year 1 January to 31 December 2023.</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>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></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>We recommend the annual report for adoption at the Annual General Meeting.</td></tr></table> Taastrup 2024-04-02 <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>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>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 2023, der omfatter anvendt regnskabspraksis, resultatopgørelse, balance, egenkapitalopgørelse 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 2023 samt af resultatet af koncernens og selskabets aktiviteter for regnskabsåret 1. januar – 31. december 2023 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>Opinion</td></tr><tr><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 2023, which comprise accounting policies, income statement, balance sheet, statement of changes in equity 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>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 2023 and of the results of the Group's and the Parent Company's operations for the financial year 1 January – 31 December 2023 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>Basis for opinion</td></tr><tr><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 colspan="1">Uafhængighed</td></tr><tr><td colspan="1">Vi er uafhængige af koncernen i overensstemmelse med International Ethics Standards Board for Accountants' internationale retningslinjer for revisorers etiske adfærd (IESBA Code) og de yderligere etiske krav, der er gældende i Danmark, ligesom vi har opfyldt vores øvrige etiske forpligtelser i henhold til disse krav og 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 /><td>Independence</td></tr><tr><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>Management's responsibilities for the financial statements</td></tr><tr><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>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="1">Revisors ansvar for revisionen af regnskaberne</td></tr><tr><td colspan="1">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="1">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 colspan="1">► 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></tr><tr><td colspan="1">► 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></tr><tr><td colspan="1">► 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></tr><tr><td colspan="1">► 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></tr><tr><td colspan="1">► 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></tr><tr><td colspan="1">► 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></tr><tr><td colspan="1">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>Auditor's responsibilities for the audit of the financial statements</td></tr><tr><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>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>► 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 /><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 /><td>► Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management.</td></tr><tr><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 /><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 /><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 /><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 medårsregnskabslovens 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>Statement on the Management's review</td></tr><tr><td /><td>Management is responsible for the Management's review.</td></tr><tr><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>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>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>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 2024-04-02 <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">ALD Automotive tilbyder danske erhvervsvirksomheder et full service leasingkoncept af person- og varebiler samt mindre trucks. Der tilbydes endvidere 100% outsourcing af alle opgaver relateret til virksomhedens drift og administration af bilflåden. ALD Automotive og ALD International har specialiseret sig inden for dette segment af leasingmarkedet og tilbyder nogle af markedets bedste produkter med en meget stor grad af fleksibilitet og omkostningsbesparelser, bl.a. via skræddersyede IT-løsninger. Derudover forestår ALD Automotive for privatleasing af personbiler i forskellige mærke partnerskaber (white label). Som en naturlig forlængelse af vor hovedaktivitet, driver ALD Automotive ligeledes et af Danmarks største brugtbilshuse, med udsalgssteder både i Storkøbenhavn og Trekantsområdet i Jylland.</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>Management Report</td></tr><tr><td /><td>Main Activity</td></tr><tr><td /><td>ALD Automotive offers Danish companies a full-service leasing concept of passenger cars and vans as well as small trucks. Moreover, the company offers 100% outsourcing of all assignments related to the company’s operations and administration of the car fleet. ALD Automotive and ALD International have specialized within this segment of the leasing market and offer some of the best products on the market with a very high degree of flexibility and cost savings, for example through customised IT systems. In addition, ALD Automotive manages private lease of passenger cars in various brand partnerships (white label). As a natural extension of our main activity, ALD Automotive operates one of Denmark’s largest used car outlets with retail outlets both in the Greater Copenhagen Area and the Triangle Region in Jutland.</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 rapporteret endnu et resultat på niveau med forventningen og en solid fremgang i omsætningen på 4,7%. Den samlede flåde voksede med 6,9%, hvilket er drevet af forlængelser og re-leasing. Vores position på erhvervs- samt privatmarkedet blev stærkt udfordret af mangel på leverancer af nye biler, men med stor fokus på forlængelser har vi kunne holde erhversflåden nogenlunde intakt. Ved årets udgang var den samlede flåde oppe på 28.584.</td></tr><tr><td colspan="1">På trods af at vi har set en samlet omkostningsstigning så vi en stigning i bruttomarginen i 2023 på 3,4% point, hvilket er drevet af et gunstigt brugtvognsmarked. Produktionsomkostningerne er steget med 0,5%, salgs omkostningerne er steget med 4,4% og administrationsomkostningerne er steget med 17,5%.</td></tr><tr><td colspan="1">Salg af brugte biler var positivt influeret af stabil efterspørgsel og højere salgspriser grundet manglen på nye biler på markedet.</td></tr><tr><td colspan="1">Finansiel styrke, en fortsat solid markedsposition og en professionel og adræt organisation tillader ALD Automotive med selvtillid at forberede tilpasninger for fortsat at være en leder i et marked i hastig forandring.</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. Efter at have opnået endelig godkendelse fra Europa-Kommissionen i november 2022 blev den endelige overtagelse gennemført den 22. maj 2023.</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>Development during the financial year</td></tr><tr><td /><td>The company has reported another result in line with expectations and an increase in revenue of 4,7%. The total fleet grew by 6,9%, which is driven by renewals and re-leasing. Our position on the corporate and private market was strongly challenged by the lack of deliveries of new cars, but with a strong focus on extensions, we have been able to keep the business fleet fairly intact. At the end of the year, the total fleet was up to 28,584.</td></tr><tr><td /><td>Despite seeing an overall increase in expenses, we saw an increase in the gross margin in 2023 of 3,4% driven by a favorable used car market. Production costs have increased by 0,5%, sales costs have increased by 4,4% and administration costs have increased by 17,5%.</td></tr><tr><td /><td>Sale of used cars was positively influenced by stable demand and higher sales prices due to the lack of new cars in the market.</td></tr><tr><td /><td>Financial strength, a continued solid position on the market and a professional and agile organization allows ALD Automotive to prepare with confidence the needed adjustments to stay a leader in a fast-changing market.</td></tr><tr><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. After obtaining clearance from the European Commission in November 2022 the acquisition was finally closed on 22 May 2023.</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 ALD Automotive relaterer sig hovedsageligt til vedligehold af restværdigarantier på de leasede køretøjer. Vi benchmarker og justerer løbende vores restværdier med den seneste markedsudvikling. Yderligere generelle risici relaterer sig til den kreditrisiko der hidrører fra selskabets kunder.</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">Særlige risici</td></tr><tr><td colspan="1">ALD Automotives 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, modificeret i 2011, har gjort os i stand til at støtte økonomien ved at lease køretøjer til erhvervskunder i et sikrere skattemiljø.</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">Driftsrisici</td></tr><tr><td colspan="1">ALD Automotive 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.</td></tr><tr><td colspan="1">ALD Automotive har, for at mindske risiciene på de stillede restværdigarantier på de leasede køretøjer igennem de sidste år, bygget en detailsalgskanal, så selskabet kan benytte sig af såvel auktioner, engrossalgskanaler samt detailsalg af de leasede køretøjer efter endt kontrakt.</td></tr><tr><td colspan="1">ALD Automotive er underlagt koncernens regler omkring intern kontrol, vedvarende drift i specielle nødsituationer, og ikke mindst en konstant overvågning af de driftsrisici virksomheden har.</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">Renterisici</td></tr><tr><td colspan="1">ALD Automotive indgår udelukkende fastforrentede leasingaftaler. På den samlede portefølje udøves ”matched funding”, således at eventuelle renteændringer ikke påvirker selskabets finansielle resultater.</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">Kreditrisici</td></tr><tr><td colspan="1">ALD Automotive indgår kun aftaler med virksomheder der på forhånd er kreditvurderet og accepteret ud fra parametre fastlagt på koncernniveau. Den løbende kreditrisiko vurderes løbende for hver enkelt kunde, minimum én gang årligt.</td></tr><tr><td colspan="1">Som resultat af en solid portefølje, har tilbagetagelseshandlinger påkrævet i forbindelse med konkurser, forblevet relativt lav og uden alvorlig indvirkning på kreditrisikotallene.</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>General risks</td></tr><tr><td /><td>The general risks for ALD Automotive mainly relate to maintenance of residual value guarantees on the leased vehicles. We continuously benchmark and adjust our residual values with the latest market development. Additional general risks relate to the credit risk that originates from the company’s customer portfolio.</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>Special risks</td></tr><tr><td /><td>ALD Automotive’s activities are influenced to a relatively great extent by the direct and indirect tax policy that is pursued within the car area by the Danish government. Registration 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>The flex tax system granted to leasing companies in 2009, modified in 2011, has allowed us to continue to support the economy by leasing vehicles to corporate customers in a safer tax environment.</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>Operational risks</td></tr><tr><td /><td>ALD Automotive 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 up-date new contracts for possible changed trends that can influence the company’s profit.</td></tr><tr><td /><td>To reduce the risks on the provided residual value guarantees of the leased vehicles through the last couple of years, ALD Automotive has built a retail distribution channel so the company can use auctions, wholesale distribution channels as well as retail sale of the leased vehicles after end contract.</td></tr><tr><td /><td>ALD Automotive is governed by the group’s rules concerning internal controls, contingency plans in special emergencies and not least a constant evaluation of the operational risks that exist.</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>Interest rate risks</td></tr><tr><td /><td>ALD Automotive only enters into fixed-interest leasing agreements, and on the total portfolio matched funding is practised so that possible changes in interest do not influence the company’s financial results.</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>Credit risks</td></tr><tr><td /><td>ALD Automotive only enters into agreements with companies which have been credit rated and accepted 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>As a result of a sound portfolio, the repossession actions required in case of bankruptcies have remained quite low and without any severe impact on the credit risk figures.</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">Målsætninger og forventninger til det kommende år</td></tr><tr><td colspan="1">Målet er at fortsat øge selskabets ekspansion, diversificere tilbuddet til erhvervssegmentet og i fortsat have stor fokus på det private marked – primært gennem partnere. Det er en del af vores langsigtede strategi at tilpasse vores tilbud til danskernes stigende forventninger til mobilitet. Målet er ikke bare en stigning i volumen men også i overskud, i et marked hvor der er stadig stigende pres fra store selskaber. Denne ekspansion vil blive støttet af en udvidelse af produkt- og kanalmix og brug af nye muligheder og elektroniske løsninger hvor det giver værdi for kunderne. Resultatet for 2024 forventes i niveauet tDKK 145.000 – 175.000.</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>Objectives and expectations for the coming year</td></tr><tr><td /><td>The objective is to further increase the expansion of the company diversifying the offer in the corporate segment and continue to have great focus on the private marked – primarily through partners. It is part of our long-term strategy to adapt our offer to the Danes’ rising expectations for mobility. The objective is not only an increase of volume, but also of profit, in a market where pressure on prices from big corporations is continuously increasing. This expansion will be supported by the extension of the mix of products and channels, using new opportunities offered by e-tools, where it creates value for our customers. The result for 2024 is expected in the range of tDKK 145,000 - 175,000.</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">I marts 2024 er der opnået DNO (Declaration of No Objection) fra den Europæiske Centralbank, og det er derfor nu endelig muligt at igangsætte integrationen af LeasePlan i ALD Automotive. Planlægningen heraf skrider planmæssigt frem og første bølge af integration vil finde sted i løbet af 2024 og forventes endeligt afsluttet i løbet af 2026.</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>Events after the financial year</td></tr><tr><td /><td>In March 2024 a Declaration of No Objection (DNO) was secured from the European Central Bank and thus it will now be possible to proceed with the corporate reorganisation of LeasePlan. The planning of this is well underway and it is expected that the first wave of integration of the Danish entities will take place in 2024 and be finalised expectedly in 2026</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">Udviklingsprojekter</td></tr><tr><td colspan="1">Udviklingsaktiviteter udøves i modervirksomheden og er af begrænset omfang. Udviklingsaktiviteterne omfatter udelukkende udvikling af et nyt software system til forretningen.</td></tr><tr><td colspan="1">Vi har i året kun det ene udviklingsprojekt, som forventes at kunne bidrage til effektivitet og øget konkurrenceevne vha. bedre datakvalitet og nye funktionaliteter.</td></tr><tr><td colspan="1">Udviklingen af vores software system vil fortsætte i 2024.</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>Development projects</td></tr><tr><td /><td>Development activities are done in the parent company and is of limited extent. The development activities only include development of a new software platform for use in the business.</td></tr><tr><td /><td>For the year, we only have the one development project, which we expect will contribute to efficiency and increased competitiveness through better data quality and new functionalities.</td></tr><tr><td /><td>The development of our software platform will continue in 2024.</td></tr></table> https://www.societegenerale.com/sites/default/files/documents/2024-03/universal-registration-document-2024.pdf <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 2023 og knytter sig til årsrapporten for 2023. ALD ønsker at leve op til lovgivningen og gældende regler på de markeder, hvor der opereres. ALD 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 aktiviteter. For lovpligtige redegørelse for §99a henvises til koncernens</td></tr><tr><td colspan="1">https://www.societegenerale.com/sites/default/files/documents/2024-03/universal-registration-document-2024.pdf</td></tr><tr><td colspan="1">hvor dokumentet Societe General Universal Registration Document findes, se afsnit 1.2 Profile of Societe Generale (side 10), samt afsnit 5 Corporate Social Responsibility (side 325 – 418).</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>Statement of community responsibility</td></tr><tr><td /><td>Statement of community responsibility covers the period 1 January to 31 December 2023 and is associated with the annual report for 2023. ALD wishes to live up to the legislation and current regulations in the market where we operate ALD has not independently established policies for compliance to corporate social responsibility but follows the general policy of corporate social responsibility established in the ALD group, as part of the group’s strategy and operations. For the statutory statement on §99a please refer to the group website</td></tr><tr><td /><td>https://www.societegenerale.com/sites/default/files/documents/2024-03/universal-registration-document-2024.pdf</td></tr><tr><td /><td>where Societe General Universal Registration Document can be found, see section 1.2 Profile of Societe Generale (Page 10) and section 5 Corporate Social Responsibility (page 325 – 418).</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">Selskabets bestyrelse omfatter tre medlemmer, alle mænd. Selskabet har en målsætning om, at bestyrelsen skal have mindst et kvindeligt medlem inden 2025. Målsætningen er ikke opfyldt i 2023, idet det endnu ikke er lykkedes at identificere en kvalificeret kandidat. På øvrige ledelsesniveauer er p.t. 35% (stigning på 7% ift. 2022) af stillingerne besat af kvinder, hvilket er en stigning ift. året forinden. Dermed er målsætningen for 2025 opnået på dette ledelsesniveau. Se ”Hoved- og nøgletal” side 7-8.</td></tr><tr><td colspan="1">Koncernen tror på, at en ligelig fordeling af kønnene, bidrager positivt til arbejdsmiljøet og styrker virksomhedens performance og konkurrenceevne. ALD Automotive 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">Der findes yderligere information på</td></tr><tr><td colspan="1">https://www.societegenerale.com/sites/default/files/documents/2024-03/universal-registration-document-2024.pdf</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">Kønsmæssig sammensætning</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>Gender distribution in management</td></tr><tr><td /><td>The current Supervisory Board consists of three members, all men. The Company has set the target that the Supervisory Board must consist of at least one woman by 2025. The target is not met for 2023 since the right candidate has not yet been identified. On other management levels 28% (an increase of 4% compared to 2021) of the positions are currently held by women, which is an increase compared to the previous year. This means that the 2025 target has been achieved at this management level. See “Financial highlights” page 7-8.</td></tr><tr><td /><td>The group believes that an equal distribution of the genders, attributes positively to the working environment and strengthens the company’s performance and competitiveness. ALD Automotive 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>More information can be found at</td></tr><tr><td /><td>https://www.societegenerale.com/sites/default/files/documents/2024-03/universal-registration-document-2024.pdf</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">Gender composition</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">Dataetik</td></tr><tr><td colspan="1">I henhold til årsregnskabslovens § 99 d, stk. 3, er der ikke udarbejdet en særskilt rapportering om dataetik. Der henvises til koncernens årsrapport for 2023, som indeholder nævnte rapportering, og som kan findes på</td></tr><tr><td colspan="1">https://www.societegenerale.com/sites/default/files/documents/2024-03/universal-registration-document-2024.pdf.</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>Data Ethics</td></tr><tr><td /><td>Pursuant to section 99 d(3) of the Danish Financial Statements Act, no separate reporting on data ethics have been prepared. Please refer to the Group's annual report for 2023, which includes said reporting, and can be found at</td></tr><tr><td /><td>https://www.societegenerale.com/sites/default/files/documents/2024-03/universal-registration-document-2024.pdf.</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">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>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 medårsregnskabslovens bestemmelser for regnskabsklasse 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>This annual report has been presented in accordance with the provisions of the Danish Financial Statements Act governing reporting classC 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>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>Recognition and measurement</td></tr><tr><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>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 thatfuture economic benefits will flow out of the Company, and the value of the liabilities can be measured reliably.</td></tr><tr><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>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>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>Foreign currency translation</td></tr><tr><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 thatarise 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>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="1">Nettoomsætning</td></tr><tr><td colspan="1">Selskabet anvender IFRS 15 "Omsætning fra kontrakter med kunder" som fortolkningsbidrag af nettoomsætning.</td></tr><tr><td colspan="1">Nettoomsætning indregnes i resultatopgørelsen, efter følgende kriterier</td></tr><tr><td colspan="1">• Lejeindtægter indregnes lineært over leasingkontraktens løbetid.</td></tr><tr><td colspan="1">• Nettogevinsten ved salg af leasingbiler indregnes i takt med, at levering finder sted.</td></tr><tr><td colspan="1">• Indtægter, der relaterer sig til servicekontrakter,indregnes i takt med afholdelse af de faktiske omkostninger.</td></tr><tr><td colspan="1">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="1">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>Revenue</td></tr><tr><td /><td>The company follow IFRS 15 "Revenue from contracts with customers" as interpretation contribution of net revenue.</td></tr><tr><td /><td>Revenue is recognised in the income statement applying the following criteria</td></tr><tr><td /><td>• Lease income is recognised on a straight-line basis over the useful life of the agreement.</td></tr><tr><td /><td>• Net profit from sale of lease vehicles is recognized as delivery takes place.</td></tr><tr><td /><td>• Income relating to service agreements is recognised as the actual costs are incurred.</td></tr><tr><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>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>Cost of sales</td></tr><tr><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>Distribution costs</td></tr><tr><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 omkostninger, 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>Administrative expenses</td></tr><tr><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>Financial income and expenses</td></tr><tr><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>Income taxes</td></tr><tr><td /><td>Tax for the year, which consists of current tax for the year and changes in deferred tax, is recognized 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>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>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>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><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">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.</td></tr><tr><td colspan="1">► Variable betalinger, som ændrer sig i takt med ændringer i et indeks eller en rente, baseret på gældende indeks eller rente.</td></tr><tr><td colspan="1">► Skyldige betalinger under en restværdigaranti.</td></tr><tr><td colspan="1">► Udnyttelsesprisen for købsoptioner, som ledelsen med høj sandsynlighed forventer at udnytte.</td></tr><tr><td colspan="1">► Betalinger omfattet af en forlængelsesoption, som koncernen med høj sandsynlighed forventer at udnytte.</td></tr><tr><td colspan="1">► 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</td></tr><tr><td colspan="1">► Driftsmateriel 1-5 år</td></tr><tr><td colspan="1">► 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>Balance sheet</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>Rent of assets</td></tr><tr><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>► Fixed payments</td></tr><tr><td /><td>► Variable payments that change concurrently with changes in an index or an interest rate, based on the applicable index or interest rate</td></tr><tr><td /><td>► Outstanding payments under a residual value guarantee</td></tr><tr><td /><td>► The exercise price for call options that management most likely expects to exercise</td></tr><tr><td /><td>► Payments covered by an extention option, which the Group is highly likely to exercise</td></tr><tr><td /><td>► Penalties related to a termination option, unless the Group in all probability does not expect to exercise the option.</td></tr><tr><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>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</td></tr><tr><td /><td>► Operating equipment 1-5 years</td></tr><tr><td /><td>► Sales and administation properties 6-16 years.</td></tr><tr><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 recognizeservice 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">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 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>Intangible assets</td></tr><tr><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>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>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>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 is reduced continuously with depreciation and impairment losses on the development projects.</td></tr><tr><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 colspan="1">Materielle anlægsaktiver</td></tr><tr><td colspan="1">Andre anlæg, driftsmateriel og inventar leasingaktiver og forudbetalte leasingaktiver måles til kostpris med fradrag af akkumulerede af- og nedskrivninger.</td></tr><tr><td colspan="1">Kostprisen omfatter anskaffelsesprisen, omkostninger 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="1">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="1">Leasingbiler 1-5 år</td></tr><tr><td colspan="1">Andre anlæg, driftsmateriel og inventar 4 år</td></tr><tr><td colspan="1">Materielle anlægsaktiver nedskrives til genindvindingsværdi, såfremt denne er lavere end den regnskabsmæssige værdi.</td></tr><tr><td colspan="1">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>Property, plant and equipment</td></tr><tr><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>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>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>Lease vehicles 1-5 years</td></tr><tr><td /><td>Other fixtures and fittings, tools and equipment 4 years</td></tr><tr><td /><td>Property, plant and equipment are written down to the lower of recoverable amount and carrying amount.</td></tr><tr><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><tr><td colspan="1">Kapitalandele dattervirksomheder Investments in subsidiaries 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 dattervirksomheder 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>Finacial leasing receivables</td></tr><tr><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>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>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><tr><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>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>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>If the negative equity exceeds the amount receivable, the remaining amount is recognized under provisions if the Company has a legal or constructive obligation to cover the liabilities of the relevant enterprise.</td></tr><tr><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>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>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>Inventories</td></tr><tr><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>Inventories are measured at the lower of cost using the FIFO method and net realisable value.</td></tr><tr><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></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">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>Receivables</td></tr><tr><td /><td>Receivables are measured at amortised cost, usually equalling nominal value less provisions for bad debts.</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>Receivables, other</td></tr><tr><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 payablesare 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. Periodeafgrænsningsposter måles til 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>Prepayments</td></tr><tr><td /><td>Prepayments comprise incurred costs relating to subsequent financial years. Prepayments are measured at 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">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>Dividends</td></tr><tr><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>Other financial liabilities</td></tr><tr><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>Other payables</td></tr><tr><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">PPeriodeafgrænsningsposter</td></tr><tr><td colspan="1">Periodeafgrænsningsposter indregnet under forpligtelser omfatter modtagne indtægter til resultatføring i efterfølgende regnskabsår. Periodeafgrænsningsposter måles til 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>Deferred income</td></tr><tr><td /><td>Deferred income comprises received income for recognition in subsequent financial years. Deferred income is measured at 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></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>Cash flow 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="1">I henhold til årsregnskabslovens § 86, stk. 4, er der ikke udarbejdet pengestrømsopgørelse.</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>Pursuant to section 86(4) of the Danish Financial Statements Act, no cash flow statement have been prepared.</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">Selskabets udvikling kan beskrives ved følgende hoved- og nøgletal</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">Hovedtal</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">Resultat</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">Balance</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">Medarbejdere</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">Nøgletal i %</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">The development of the Company can be described by the following financial highlights</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">Key figures</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">Profit/(loss)</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">Balance sheet</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">Employees</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">Ratios</td></tr></table> 163 <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="2">Forklaring af nøgletal</td></tr><tr><td>Bruttomargin / Gross margin</td><td>(Brutttoresultat x 100)/Nettoomsætning / Gross profit/(loss) x 100)/Revenue</td></tr><tr><td>Overskudsgrad / Net profit ratio</td><td>(Resultat før finansielle poster x 100)/Nettoomsætning / (Profit/(loss) before financials x 100)/Revenue</td></tr><tr><td>Afkastningsgrad / Return on net assets</td><td>(Resultat før finansielle poster x 100)/Samlede aktiver / (Profit(loss) before financials x 100) / Total assets</td></tr><tr><td>Soliditetsgrad / Solvency ratio</td><td>(Egenkapital ultimo x 100)/Samlede aktiver / (Equity at year end x 100) / Total assets</td></tr><tr><td>Forrentning af egenkapital / Return on equity</td><td>(Årets resultat x 100)/Gennemsnitlig egenkapital / (Profit of the year x 100)/Average 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">Explanation of Ratios</td></tr></table> 1995606000 1587119000 408488000 60910000 84586000 262992000 0 6119000 64272000 204838000 45121000 159717000 -138000000 <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="6" align="left" valign="middle" ><b>Noter til årsrapporten</b></td></tr><tr><td width="100%" colspan="6" align="left" valign="middle" ><b>Notes to the Annual Report</b></td></tr><tr><td colspan="6"></td></tr><tr><td width="8%" ></td><td width="26%" ></td><td width="15%" align="center" valign="middle" >2023</td><td width="15%" align="center" valign="middle" >2022</td><td width="15%" ></td><td width="21%" ></td></tr><tr><td colspan="6"></td></tr><tr><td width="8%" ></td><td width="26%" ></td><td width="15%" colspan="1" align="center" valign="middle" >DKK ’000</td><td width="15%" colspan="1" align="center" valign="middle" >DKK ’000</td><td width="15%" colspan="1" align="center" valign="middle" ></td><td width="21%" colspan="1" align="center" valign="middle" ></td></tr><tr><td width="8%" ></td><td width="92%" colspan="5" align="left" valign="middle" ><b>Nettoomsætning</b></td></tr><tr><td width="8%" ></td><td width="92%" colspan="5" align="left" valign="middle" ><b>Revenue</b></td></tr><tr><td colspan="6"></td></tr><tr><td width="8%" ></td><td width="92%" colspan="5" align="left" valign="middle" >Nettoomsætningens fordeling på markeder</td></tr><tr><td width="8%" ></td><td width="92%" colspan="5" align="left" valign="middle" >Segmentation of revenue on geographical area</td></tr><tr><td colspan="6"></td></tr><tr><td width="8%" ></td><td width="26%" colspan="1" align="left" valign="middle" >Danmark</td><td width="15%" align="right" valign="middle" ><b> 1 995 606 </b></td><td width="15%" align="right" valign="middle" ><b> 1 905 808 </b></td><td width="15%" ></td><td width="21%" ></td></tr><tr><td colspan="6"></td></tr><tr><td width="8%" ></td><td width="92%" colspan="5" align="left" valign="middle" >Denmark</td></tr><tr><td colspan="6"></td></tr><tr><td width="8%" ></td><td width="92%" colspan="5" align="left" valign="middle" >Nettoomsætningens fordeling på aktiviteter</td></tr><tr><td width="8%" ></td><td width="92%" colspan="5" align="left" valign="middle" >Segmentation of revenue on activity</td></tr><tr><td colspan="6"></td></tr><tr><td width="8%" ></td><td width="26%" colspan="1" align="left" valign="middle" >Indtægter ved indgåelse af leasingaftaler</td><td width="15%" align="right" valign="middle" > 1 875 767 </td><td width="15%" align="right" valign="middle" > 1 791 614 </td><td width="15%" ></td><td width="21%" ></td></tr><tr><td width="8%" ></td><td width="92%" colspan="5" align="left" valign="middle" >Income from lease agreements</td></tr><tr><td width="8%" ></td><td width="26%" colspan="1" align="left" valign="middle" >Nettogevinst/-tab ved salg af brugte biler</td><td width="15%" align="right" valign="middle" > 119 839 </td><td width="15%" align="right" valign="middle" > 114 194 </td><td width="15%" ></td><td width="21%" ></td></tr><tr><td width="8%" ></td><td width="92%" colspan="5" align="left" valign="middle" >Net profit/loss from the sale of used cars</td></tr><tr><td colspan="6"></td></tr><tr><td width="8%" ></td><td width="26%" colspan="1" align="left" valign="middle" >Nettoomsætning i alt</td><td width="15%" align="right" valign="middle" ><b> 1 995 606 </b></td><td width="15%" align="right" valign="middle" ><b> 1 905 808 </b></td><td width="15%" ></td><td width="21%" ></td></tr><tr><td colspan="6"></td></tr></table> 1837000 4282000 64803000 -530000 45064000 0 57000 158762000 -8727000 9682000 0 <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="3" align="left" valign="middle" >Af- og nedskrivninger på materielle anlægsaktiver er omkostningsført således</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Depreciation and writedown of property, plant and equipment are expensed as follows</td></tr><tr><td colspan="3"></td></tr><tr><td width="46%" ></td><td width="26%" align="center" valign="middle" >2023</td><td width="28%" align="center" valign="middle" >2022</td></tr><tr><td colspan="3"></td></tr><tr><td width="46%" ></td><td width="26%" colspan="1" align="center" valign="middle" >DKK ’000</td><td width="28%" colspan="1" align="center" valign="middle" >DKK ’000</td></tr><tr><td colspan="3"></td></tr><tr><td width="46%" colspan="1" align="left" valign="middle" >.Produktionsomkostninger</td><td width="26%" align="right" valign="middle" >995 842 </td><td width="28%" align="right" valign="middle" >974 973 </td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Production costs</td></tr><tr><td width="46%" colspan="1" align="left" valign="middle" >.Administrationsomkostninger</td><td width="26%" align="right" valign="middle" >6 798 </td><td width="28%" align="right" valign="middle" >9 351 </td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Administrative expenses</td></tr><tr><td width="46%" colspan="1" align="left" valign="middle" >Varelager nedskrivning</td><td width="26%" align="right" valign="middle" > 708 </td><td width="28%" align="right" valign="middle" >( 172)</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Stock writedown</td></tr><tr><td colspan="3"></td></tr><tr><td width="46%" colspan="1" align="left" valign="middle" >Total</td><td width="26%" align="right" valign="middle" ><b>1 003 348</b></td><td width="28%" align="right" valign="middle" ><b>984 152 </b></td></tr><tr><td colspan="3"></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="3" align="left" valign="middle" >Varelager</td></tr><tr><td colspan="3"></td></tr><tr><td width="46%" ></td><td width="26%" ></td><td width="28%" colspan="1" align="center" valign="middle" >Varelager</td></tr><tr><td width="46%" ></td><td width="26%" ></td><td width="28%" colspan="1" align="center" valign="middle" >Inventories</td></tr><tr><td colspan="3"></td></tr><tr><td width="46%" ></td><td width="26%" ></td><td width="28%" colspan="1" align="center" valign="middle" >DKK ’000</td></tr><tr><td width="72%" colspan="2" align="left" valign="middle" >Kostpris 1. januar 2023</td><td width="28%" align="right" valign="middle" >109 735 </td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Cost at 1 January</td></tr><tr><td width="72%" colspan="2" align="left" valign="middle" >Tilgang</td><td width="28%" align="right" valign="middle" >565 119 </td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Additions</td></tr><tr><td width="72%" colspan="2" align="left" valign="middle" >Afgang</td><td width="28%" align="right" valign="middle" >(2 214 896)</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Disposals</td></tr><tr><td width="72%" colspan="2" align="left" valign="middle" >Overført i året</td><td width="28%" align="right" valign="middle" >1 659 744 </td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Transfers</td></tr><tr><td colspan="3"></td></tr><tr><td width="72%" colspan="2" align="left" valign="middle" ><b>Kostpris 31.december 2023</b></td><td width="28%" align="right" valign="middle" ><b>119 706 </b></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Cost at 31 December</b></td></tr><tr><td colspan="3"></td></tr><tr><td width="72%" colspan="2" align="left" valign="middle" >Afskrivninger 1. januar 2023</td><td width="28%" align="right" valign="middle" >4 166 </td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Depreciation at 1 January</td></tr><tr><td width="72%" colspan="2" align="left" valign="middle" >Af- og nedskrivninger</td><td width="28%" align="right" valign="middle" > 708 </td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Depreciation and write down</td></tr><tr><td width="72%" colspan="2" align="left" valign="middle" >Afgang</td><td width="28%" align="right" valign="middle" >(979 983)</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Disposals</td></tr><tr><td width="72%" colspan="2" align="left" valign="middle" >Overført i året</td><td width="28%" align="right" valign="middle" >979 983 </td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Transfers</td></tr><tr><td colspan="3"></td></tr><tr><td width="72%" colspan="2" align="left" valign="middle" ><b>Afskrivninger 31. december 2023</b></td><td width="28%" align="right" valign="middle" ><b>4 874 </b></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Depreciation at 31 December</b></td></tr><tr><td colspan="3"></td></tr><tr><td width="72%" colspan="2" align="left" valign="middle" ><b>Regnskabsmæssig værdi 31. december 2023</b></td><td width="28%" align="right" valign="middle" ><b>114 832 </b></td></tr><tr><td colspan="3"></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Carrying amount at 31 December</b></td></tr><tr><td colspan="3"></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="5" align="left" valign="middle" ><b>Anden gæld</b></td></tr><tr><td colspan="5"></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Anden gæld specificeres således</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Other payables are specified as follows</td></tr><tr><td colspan="5"></td></tr><tr><td width="28%" colspan="1" align="left" valign="middle" >Skyldige personskatter m.v.</td><td width="16%" align="right" valign="middle" >3 168 </td><td width="16%" align="right" valign="middle" >( 827)</td><td width="16%" ></td><td width="24%" ></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Accrued personal income taxes, etc</td></tr><tr><td colspan="5"></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Accrued holiday pay</td></tr><tr><td width="28%" colspan="1" align="left" valign="middle" >Anden gæld</td><td width="16%" align="right" valign="middle" >128 121 </td><td width="16%" align="right" valign="middle" >137 025 </td><td width="16%" align="right" valign="middle" >98 537 </td><td width="24%" align="right" valign="middle" >107 005 </td></tr><tr><td colspan="5"></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 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> 953000 953000 <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>Koncernforhold</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 SA, Frankrig.</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 SA, France.</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 dattervirksomhed, er Société Générale, Frankrig.</td></tr><tr><td colspan="1"></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 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" >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 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>Nærtstående part</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 indflydelse over selskabet.</td></tr><tr><td colspan="1"></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 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" >The company has no transactions with related parties except for intercompany transactions which have been eliminated in the consolidated financial statements of Société Générale, France. There isn't any information regarding 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 colspan="1"></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 with the Supervisory Board, the Executive Board, Shareholders or group enterprises which have 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 width="100%" colspan="1" align="left" valign="middle" ><b>Begivenheder efter regnskabsårets udløb</b></td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >I marts 2024 er der opnået DNO (Declaration of No Objection) fra den Europæiske Centralbank, og det er derfor nu endelig muligt at igangsætte integrationen af LeasePlan i ALD Automotive. Planlægningen heraf skrider planmæssigt frem og første bølge af integration vil finde sted i løbet af 2024 og forventes endeligt afsluttet i løbet af 2026.</td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >In March 2024 a Declaration of No Objection (DNO) was secured from the European Central Bank and thus it will now be possible to proceed with the corporate reorganisation of LeasePlan. The planning of this is well underway and it is expected that the first wave of integration of the Danish entities will take place in 2024 and be finalised expectedly in 2026.</td></tr></table> Årsrapport 30700228 EY Godkendt Revisionspartnerselskab Cortex Park Vest 3 5230 Odense M xWizard version 1.1.1244.0, by EasyX Aps. www.easyx.eu 2022-01-01 2022-12-31 Revisionspåtegning Grundlag for konklusion Konklusion Miel Frans G Horsten (Formand/Chairman) John Saffrett Pekka Tapani Kivinen Hadrien Georges Claude Boisseau Nettoomsætning 1995600000 Nettoomsætning 1905800000 Nettoomsætning 1716300000 Nettoomsætning 1685700000 Nettoomsætning 1668800000 Nettoomsætning 1460400000 Nettoomsætning 1389500000 Nettoomsætning 1270900000 Bruttoresultat 408500000 Bruttoresultat 325900000 Bruttoresultat 322500000 Bruttoresultat 281100000 Bruttoresultat 308400000 Bruttoresultat 299000000 Bruttoresultat 238100000 Bruttoresultat 236200000 Resultat før finansielle poster 263000000 Resultat før finansielle poster 195600000 Resultat før finansielle poster 196400000 Resultat før finansielle poster 157300000 Resultat før finansielle poster 195300000 Resultat før finansielle poster 190100000 Resultat før finansielle poster 141800000 Resultat før finansielle poster 140500000 Finansielle omkostninger (netto) 58200000 Finansielle omkostninger (netto) 16500000 Finansielle omkostninger (netto) 4800000 Finansielle omkostninger (netto) 4600000 Finansielle omkostninger (netto) 2200000 Finansielle omkostninger (netto) 41400000 Finansielle omkostninger (netto) 11300000 Finansielle omkostninger (netto) 2400000 Årets resultat 159700000 Årets resultat 147500000 Årets resultat 150600000 Årets resultat 112500000 Årets resultat 149100000 Årets resultat 151000000 Årets resultat 139200000 Årets resultat 150600000 Balancesum 5306200000 Balancesum 4379200000 Balancesum 4195400000 Balancesum 4115900000 Balancesum 3648500000 Balancesum 3850300000 Balancesum 3386600000 Balancesum 3374000000 Materielle anlægsaktiver 4715400000 Materielle anlægsaktiver 3791800000 Materielle anlægsaktiver 3584600000 Materielle anlægsaktiver 3488600000 Materielle anlægsaktiver 2931500000 Materielle anlægsaktiver 3341100000 Materielle anlægsaktiver 2809900000 Materielle anlægsaktiver 2704200000 Egenkapital 436500000 Egenkapital 414800000 Egenkapital 810300000 Egenkapital 768600000 Egenkapital 802800000 Egenkapital 415200000 Egenkapital 394200000 Egenkapital 775000000 151 1905808000 1579877000 325931000 58366000 71992000 195573000 0 6449000 22935000 179087000 31574000 147514000 3931000 2518000 22386000 548000 19903000 11533000 137000 34518000 -8300000 -8704000 0 896000 896000 144 144 149 153 1389529000 1151435000 238094000 48778000 47476000 141840000 33198000 5791000 17139000 163691000 24476000 139214000 3833000 1958000 16650000 489000 17043000 7441000 -8000 19116000 0 -8704000 -1198000 694000 694000 141 135 Bruttomargin 20500000 Bruttomargin 17100000 Bruttomargin 18800000 Bruttomargin 16700000 Bruttomargin 18500000 Bruttomargin 20500000 Bruttomargin 17100000 Bruttomargin 18600000 Overskudsgrad 13200000 Overskudsgrad 10300000 Overskudsgrad 11400000 Overskudsgrad 9300000 Overskudsgrad 11700000 Overskudsgrad 13000000 Overskudsgrad 10200000 Overskudsgrad 11100000 Afkastningsgrad 5000000 Afkastningsgrad 4500000 Afkastningsgrad 4700000 Afkastningsgrad 3800000 Afkastningsgrad 5400000 Afkastningsgrad 4900000 Afkastningsgrad 4200000 Afkastningsgrad 4200000 Soliditetsgrad 8200000 Soliditetsgrad 9500000 Soliditetsgrad 19300000 Soliditetsgrad 18700000 Soliditetsgrad 22000000 Soliditetsgrad 10800000 Soliditetsgrad 11600000 Soliditetsgrad 23000000 Forrentning af egenkapitalen 0.375 Forrentning af egenkapitalen 0.241 Forrentning af egenkapitalen 0.191 Forrentning af egenkapitalen 0.143 Forrentning af egenkapitalen 0.181 Forrentning af egenkapitalen 1.041 Forrentning af egenkapitalen 0.238 Forrentning af egenkapitalen 0.196 9 0 0.33 2025 17 0.35 0.35 2025 37715000 37715000 1410000 4698940000 15088000 4715438000 0 30714000 30714000 4783867000 114832000 214322000 72078000 0 111062000 397463000 10044000 522339000 5306205000 190000000 33704000 0 191452000 0 21327000 436483000 87442000 87442000 3452277000 64240000 12601000 3529119000 29754000 2488000 60442000 805229000 32628000 136366000 186225000 1253162000 4782280000 5306205000 0 0 0.33 0.38 0.35 43386000 43386000 42026000 2748133000 19708000 2809867000 82400000 23152000 105552000 2958805000 80339000 143536000 151791000 1615000 43869000 340811000 6657000 427807000 3386611000 190000000 43386000 27120000 3660000 130000000 0 394166000 71890000 71890000 2180024000 30054000 34866000 2244944000 14336000 26005000 50041000 344522000 0 112330000 128377000 675612000 2920556000 3386611000 7441000 1460447000 1161440000 299007000 50098000 58794000 190116000 34907000 5261000 46639000 183645000 32655000 150990000 -130000000 <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="6" align="left" valign="middle" ><b>Noter til årsrapporten</b></td></tr><tr><td width="100%" colspan="6" align="left" valign="middle" ><b>Notes to the Annual Report</b></td></tr><tr><td colspan="6"></td></tr><tr><td width="8%" ></td><td width="26%" ></td><td width="15%" ></td><td width="15%" ></td><td width="15%" align="center" valign="middle" >2023</td><td width="21%" align="center" valign="middle" >2022</td></tr><tr><td colspan="6"></td></tr><tr><td width="8%" ></td><td width="26%" ></td><td width="15%" ></td><td width="15%" ></td><td width="15%" colspan="1" align="center" valign="middle" >DKK ’000</td><td width="21%" colspan="1" align="center" valign="middle" >DKK ’000</td></tr><tr><td width="8%" ></td><td width="92%" colspan="5" align="left" valign="middle" ><b>Nettoomsætning</b></td></tr><tr><td width="8%" ></td><td width="92%" colspan="5" align="left" valign="middle" ><b>Revenue</b></td></tr><tr><td colspan="6"></td></tr><tr><td width="8%" ></td><td width="92%" colspan="5" align="left" valign="middle" >Nettoomsætningens fordeling på markeder</td></tr><tr><td width="8%" ></td><td width="92%" colspan="5" align="left" valign="middle" >Segmentation of revenue on geographical area</td></tr><tr><td colspan="6"></td></tr><tr><td width="8%" ></td><td width="56%" colspan="3" align="left" valign="middle" >Danmark</td><td width="15%" align="right" valign="middle" ><b> 1 460 447 </b></td><td width="21%" align="right" valign="middle" ><b> 1 389 529 </b></td></tr><tr><td colspan="6"></td></tr><tr><td width="8%" ></td><td width="92%" colspan="5" align="left" valign="middle" >Denmark</td></tr><tr><td colspan="6"></td></tr><tr><td width="8%" ></td><td width="92%" colspan="5" align="left" valign="middle" >Nettoomsætningens fordeling på aktiviteter</td></tr><tr><td width="8%" ></td><td width="92%" colspan="5" align="left" valign="middle" >Segmentation of revenue on activity</td></tr><tr><td colspan="6"></td></tr><tr><td width="8%" ></td><td width="56%" colspan="3" align="left" valign="middle" >Indtægter ved indgåelse af leasingaftaler</td><td width="15%" align="right" valign="middle" > 1 384 786 </td><td width="21%" align="right" valign="middle" > 1 315 958 </td></tr><tr><td width="8%" ></td><td width="92%" colspan="5" align="left" valign="middle" >Income from lease agreements</td></tr><tr><td width="8%" ></td><td width="56%" colspan="3" align="left" valign="middle" >Nettogevinst/-tab ved salg af brugte biler</td><td width="15%" align="right" valign="middle" > 75 661 </td><td width="21%" align="right" valign="middle" > 73 571 </td></tr><tr><td width="8%" ></td><td width="92%" colspan="5" align="left" valign="middle" >Net profit/loss from the sale of used cars</td></tr><tr><td colspan="6"></td></tr><tr><td width="8%" ></td><td width="56%" colspan="3" align="left" valign="middle" >Nettoomsætning i alt</td><td width="15%" align="right" valign="middle" ><b> 1 460 447 </b></td><td width="21%" align="right" valign="middle" ><b> 1 389 529 </b></td></tr><tr><td colspan="6"></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>Kapitalandele i tilknyttede virksomheder specificeres således: (DKK 1.000)</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 /><td>Nærtstående parter</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 specificeres således</td></tr></table> 1837000 3424000 <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><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 omkostninger specificeres således</td></tr></table> 46944000 -305000 <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>Den omkostningsførte selskabsskat specificeres således</td></tr></table> 32722000 0 -68000 <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> 141815000 0 9682000 -507000 <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>Regnskabsårets investeringer i og afskrivninger på immaterielle anlægsaktiver specificeres således</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>Materielle anlægsaktiver og varebeholdninger</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>Regnskabsårets investeringer i og afskrivninger på materielle anlægsaktiver samt varebeholdninger specificeres 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>Materielle anlægsaktiver og varebeholdninger</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="3" align="left" valign="middle" >Af- og nedskrivninger på materielle anlægsaktiver er omkostningsført således</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Depreciation and writedown of property, plant and equipment are expensed as follows</td></tr><tr><td colspan="3"></td></tr><tr><td width="46%" ></td><td width="26%" align="center" valign="middle" >2023</td><td width="28%" align="center" valign="middle" >2022</td></tr><tr><td colspan="3"></td></tr><tr><td width="46%" ></td><td width="26%" colspan="1" align="center" valign="middle" >DKK ’000</td><td width="28%" colspan="1" align="center" valign="middle" >DKK ’000</td></tr><tr><td colspan="3"></td></tr><tr><td width="46%" colspan="1" align="left" valign="middle" >.Produktionsomkostninger</td><td width="26%" align="right" valign="middle" >723 548 </td><td width="28%" align="right" valign="middle" >715 553 </td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Production costs</td></tr><tr><td width="46%" colspan="1" align="left" valign="middle" >.Administrationsomkostninger</td><td width="26%" align="right" valign="middle" >27 046 </td><td width="28%" align="right" valign="middle" >45 225 </td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Administrative expenses</td></tr><tr><td width="46%" colspan="1" align="left" valign="middle" >Varelager nedskrivning</td><td width="26%" align="right" valign="middle" > 789 </td><td width="28%" align="right" valign="middle" >( 334)</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Stock writedown</td></tr><tr><td colspan="3"></td></tr><tr><td width="46%" colspan="1" align="left" valign="middle" >Total</td><td width="26%" align="right" valign="middle" ><b>751 383 </b></td><td width="28%" align="right" valign="middle" ><b>760 444 </b></td></tr><tr><td colspan="3"></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="3" align="left" valign="middle" >Varelager</td></tr><tr><td colspan="3"></td></tr><tr><td width="46%" ></td><td width="26%" colspan="1" align="center" valign="middle" >Varelager</td><td width="28%" colspan="1" align="center" valign="middle" ></td></tr><tr><td width="46%" ></td><td width="26%" colspan="1" align="center" valign="middle" >Inventories</td><td width="28%" colspan="1" align="center" valign="middle" ></td></tr><tr><td colspan="3"></td></tr><tr><td width="46%" ></td><td width="26%" colspan="1" align="center" valign="middle" >DKK ’000</td><td width="28%" colspan="1" align="center" valign="middle" ></td></tr><tr><td width="46%" colspan="1" align="left" valign="middle" >Kostpris 1. januar 2023</td><td width="26%" align="right" valign="middle" > 83 449 </td><td width="28%" ></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Cost at 1 January</td></tr><tr><td width="46%" colspan="1" align="left" valign="middle" >Tilgang</td><td width="26%" align="right" valign="middle" > 514 138 </td><td width="28%" ></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Additions</td></tr><tr><td width="46%" colspan="1" align="left" valign="middle" >Afgang</td><td width="26%" align="right" valign="middle" >(1 715 479)</td><td width="28%" ></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Disposals</td></tr><tr><td width="46%" colspan="1" align="left" valign="middle" >Overført i året</td><td width="26%" align="right" valign="middle" >1 204 035 </td><td width="28%" ></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Transfers</td></tr><tr><td colspan="3"></td></tr><tr><td width="46%" colspan="1" align="left" valign="middle" ><b>Kostpris 31.december 2023</b></td><td width="26%" align="right" valign="middle" ><b>86 143 </b></td><td width="28%" ></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Cost at 31 December</b></td></tr><tr><td colspan="3"></td></tr><tr><td width="46%" colspan="1" align="left" valign="middle" >Afskrivninger 1. januar 2023</td><td width="26%" align="right" valign="middle" > 3 110 </td><td width="28%" ></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Depreciation at 1 January</td></tr><tr><td width="46%" colspan="1" align="left" valign="middle" >Af- og nedskrivninger</td><td width="26%" align="right" valign="middle" > 789 </td><td width="28%" ></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Depreciation and write down</td></tr><tr><td width="46%" colspan="1" align="left" valign="middle" >Afgang</td><td width="26%" align="right" valign="middle" >(707 187)</td><td width="28%" ></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Disposals</td></tr><tr><td width="46%" colspan="1" align="left" valign="middle" >Overført i året</td><td width="26%" align="right" valign="middle" > 707 187 </td><td width="28%" ></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Transfers</td></tr><tr><td colspan="3"></td></tr><tr><td width="46%" colspan="1" align="left" valign="middle" ><b>Afskrivninger 31. december 2023</b></td><td width="26%" align="right" valign="middle" ><b>3 899 </b></td><td width="28%" ></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Depreciation at 31 December</b></td></tr><tr><td colspan="3"></td></tr><tr><td width="46%" colspan="1" align="left" valign="middle" ><b>Regnskabsmæssig værdi 31. december 2023</b></td><td width="26%" align="right" valign="middle" ><b> 82 244</b></td><td width="28%" ></td></tr><tr><td colspan="3"></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Carrying amount at 31 December</b></td></tr><tr><td colspan="3"></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>Hensættelse til udskudt skat</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="5" align="left" valign="middle" ><b>Anden gæld</b></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" ><b>Other payables</b></td></tr><tr><td colspan="5"></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Anden gæld specificeres således</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Other payables are specified as follows</td></tr><tr><td colspan="5"></td></tr><tr><td width="60%" colspan="3" align="left" valign="middle" >Skyldige personskatter m.v.</td><td width="16%" align="right" valign="middle" >2 932 </td><td width="24%" align="right" valign="middle" >( 800)</td></tr><tr><td colspan="5"></td></tr><tr><td width="28%" colspan="1" align="left" valign="middle" >Feriepengeforpligtelse</td><td width="16%" align="right" valign="middle" >5 076 </td><td width="16%" align="right" valign="middle" >6 676 </td><td width="16%" align="right" valign="middle" >4 735 </td><td width="24%" align="right" valign="middle" >6 125 </td></tr><tr><td colspan="5"></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Other payables</td></tr><tr><td colspan="5"></td></tr><tr><td width="28%" colspan="1" align="left" valign="middle" >Anden gæld i alt</td><td width="16%" align="right" valign="middle" ><b>136 366 </b></td><td width="16%" align="right" valign="middle" ><b>142 874 </b></td><td width="16%" align="right" valign="middle" ><b>106 203 </b></td><td width="24%" align="right" valign="middle" ><b>112 330 </b></td></tr><tr><td colspan="5"></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 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 colspan="1"></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 1.4 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 1.4 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 1.0 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 1.0 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> <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="28%" ></td><td width="16%" align="center" valign="middle" >2023</td><td width="16%" align="center" valign="middle" >2022</td><td width="16%" align="center" valign="middle" >2023</td><td width="24%" align="center" valign="middle" >2022</td></tr><tr><td colspan="5"></td></tr><tr><td width="28%" ></td><td width="16%" colspan="1" align="center" valign="middle" >DKK ’000</td><td width="16%" colspan="1" align="center" valign="middle" >DKK ’000</td><td width="16%" colspan="1" align="center" valign="middle" >DKK ’000</td><td width="24%" colspan="1" align="center" valign="middle" >DKK ’000</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" ><b>Medarbejderforhold</b></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" ><b>Staff</b></td></tr><tr><td colspan="5"></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Personaleomkostninger udgør følgende beløb</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Staff expenses amount to the following</td></tr><tr><td colspan="5"></td></tr><tr><td width="28%" colspan="1" align="left" valign="middle" >Lønninger og gager</td><td width="16%" align="right" valign="middle" >102 489 </td><td width="16%" align="right" valign="middle" >93 217 </td><td width="16%" align="right" valign="middle" >93 844 </td><td width="24%" align="right" valign="middle" >85 562 </td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Wages and salaries</td></tr><tr><td width="28%" colspan="1" align="left" valign="middle" >Pensioner</td><td width="16%" align="right" valign="middle" >8 918 </td><td width="16%" align="right" valign="middle" >7 920 </td><td width="16%" align="right" valign="middle" >8 237 </td><td width="24%" align="right" valign="middle" >7 259 </td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Pensions</td></tr><tr><td width="28%" colspan="1" align="left" valign="middle" >Andre omkostninger til social sikring</td><td width="16%" align="right" valign="middle" >1 870 </td><td width="16%" align="right" valign="middle" >1 821 </td><td width="16%" align="right" valign="middle" >1 799 </td><td width="24%" align="right" valign="middle" >1 749 </td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Other social security expenses</td></tr><tr><td colspan="5"></td></tr><tr><td width="28%" colspan="1" align="left" valign="middle" >Personaleomkostninger i alt</td><td width="16%" align="right" valign="middle" ><b>113 277 </b></td><td width="16%" align="right" valign="middle" ><b>102 958 </b></td><td width="16%" align="right" valign="middle" ><b>103 880 </b></td><td width="24%" align="right" valign="middle" ><b>94 571 </b></td></tr><tr><td colspan="5"></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >og er omkostningsført således</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >and have been expensed as follows</td></tr><tr><td colspan="5"></td></tr><tr><td width="28%" colspan="1" align="left" valign="middle" >Salgs- og distributionsomkostninger</td><td width="16%" align="right" valign="middle" >47 939 </td><td width="16%" align="right" valign="middle" >44 877 </td><td width="16%" align="right" valign="middle" >38 542 </td><td width="24%" align="right" valign="middle" >36 490 </td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Sales and distribution expenses</td></tr><tr><td width="28%" colspan="1" align="left" valign="middle" >Administrationsomkostninger</td><td width="16%" align="right" valign="middle" >65 339 </td><td width="16%" align="right" valign="middle" >58 080 </td><td width="16%" align="right" valign="middle" >65 339 </td><td width="24%" align="right" valign="middle" >58 080 </td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Administrative expenses</td></tr><tr><td colspan="5"></td></tr><tr><td width="28%" colspan="1" align="left" valign="middle" ><b>Personaleomkostninger i alt</b></td><td width="16%" align="right" valign="middle" ><b>113 277 </b></td><td width="16%" align="right" valign="middle" ><b>102 958 </b></td><td width="16%" align="right" valign="middle" ><b>103 880 </b></td><td width="24%" align="right" valign="middle" ><b>94 571 </b></td></tr><tr><td colspan="5"></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Løn og gager til direktion og bestyrelse vises ikke for koncernen jf. Årsregnskabslovens § 98b stk 3.</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Saleries and remuneration to the Executive and Supervisory Boards for the group are not disclosed according to the Danish Financial Statement Act § 98 b section 3.</td></tr><tr><td colspan="5"></td></tr><tr><td width="28%" colspan="1" align="left" valign="middle" ><b>Gennemsnitligt antal beskæftigede medarbejdere</b></td><td width="16%" align="right" valign="middle" ><b> 163 </b></td><td width="16%" align="right" valign="middle" ><b> 151 </b></td><td width="16%" align="right" valign="middle" ><b> 153 </b></td><td width="24%" align="right" valign="middle" ><b> 141 </b></td></tr><tr><td colspan="5"></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>Honorar til generalforsamlingsvalgt revisor</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>Samlet honorar til EY udgør</td></tr></table> 708000 708000 <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>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 SA, Frankrig.</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 SA, France.</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 dattervirksomhed, er Société Générale, Frankrig.</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 colspan="1"></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 width="100%" colspan="1" align="left" valign="middle" ><b>Nærtstående part</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 indflydelse over selskabet.</td></tr><tr><td colspan="1"></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 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 colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Selskabet har ingen transaktioner med nærtstående parter, bortset fra koncerninterne transaktioner der er elimineret i koncernregnskabet for Société Générale, Frankrig. Der er ikke givet oplysninger vedrørende transaktioner med nærtstående parter ÅRL § 98c</td></tr><tr><td colspan="1"></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 bestyrelse, direktion, aktionærer og tilknyttede virksomheder, som ikke fremgår af årsrapportens øvrige oplysninger.</td></tr><tr><td colspan="1"></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 with the Supervisory Board, the Executive Board, Shareholders or group enterprises which have 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 width="100%" colspan="1" align="left" valign="middle" ><b>Begivenheder efter regnskabsårets udløb</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Events after the financial year</b></td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >I marts 2024 er der opnået DNO (Declaration of No Objection) fra den Europæiske Centralbank, og det er derfor nu endelig muligt at igangsætte integrationen af LeasePlan i ALD Automotive. Planlægningen heraf skrider planmæssigt frem og første bølge af integration vil finde sted i løbet af 2024 og forventes endeligt afsluttet i løbet af 2026.</td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >In March 2024 a Declaration of No Objection (DNO) was secured from the European Central Bank and thus it will now be possible to proceed with the corporate reorganisation of LeasePlan. The planning of this is well underway and it is expected that the first wave of integration of the Danish entities will take place in 2024 and be finalised expectedly in 2026.</td></tr></table> Ledelsespåtegning 43386000 43386000 660000 3771416000 19708000 3791785000 0 30689000 30689000 3865859000 105569000 183593000 160815000 0 56246000 400654000 7107000 513330000 4379189000 190000000 43386000 0 30779000 130000000 20600000 414765000 87442000 87442000 2779930000 41047000 14847000 2835824000 14336000 4659000 83723000 610225000 1245000 142874000 184065000 1041158000 3876981000 4379189000 11533000 37715000 37715000 37981000 3287995000 15088000 3341064000 85307000 23214000 108521000 3487300000 82244000 165764000 63119000 0 42229000 271112000 9668000 363025000 3850325000 190000000 33704000 27627000 163824000 0 0 415156000 71890000 71890000 2510977000 38126000 30285000 2579388000 29754000 21375000 31760000 449229000 20286000 106204000 125283000 783891000 3363279000 3850325000 0 190000000 43386000 30780000 130000000 20600000 414766000 87442000 0 0 0 -9682000 0 160672000 -130000000 0 -8000000 8727000 190000000 33704000 191452000 0 21327000 190000000 43386000 27120000 3660000 130000000 394166000 71890000 0 0 0 -9682000 0 507000 0 160165000 -130000000 0 190000000 33704000 27627000 163825000 0 23280000 59120000 23280000 117922000 23280000 62027000 85307000 23280000 59120000 82400000 34907000 32000000 33198000 92000000 NF Fleet A/S Høje Taastrup 13 000 43634 80 106634 ALD Automotive A/S´s andel 34907 44 880 85307 54311000 10926000 6549000 12220000 60860000 23145000 37715000 54311000 10926000 6549000 12220000 60860000 23145000 37715000 38729000 19020000 5991670000 2220254000 29232000 28572000 391000 0 0 5012000 0 0 2603126000 0 -1659744000 995842000 0 -979983000 818000 2870000 0 1786000 -4589000 0 39120000 24032000 15088000 6935052000 2236112000 4698940000 27180000 25770000 1410000 38729000 19020000 4402230000 1654097000 117109000 75084000 391000 0 0 5012000 0 0 1760258000 0 -1204035000 723548000 0 -707187000 23328000 28149000 0 22035000 -22811000 0 39120000 24032000 15088000 4958453000 1670457000 3287995000 112288000 74307000 37981000 30688000 40110000 23152000 30110000 62000 37000 0 9421000 62000 0 0 6958000 30714000 30688000 23214000 23152000 75909000 64449000 EY Godkendt Revisionspartnerselskab 30700228 Thomas Hjortkjær Petersen State Authorised Public Accountant mne33748