44141299 2025-01-01 2025-12-31 44141299 2024-01-01 2024-12-31 44141299 2025-12-31 44141299 2024-12-31 44141299 2023-12-31 fsa:ContributedCapitalMember 44141299 2023-12-31 fsa:RetainedEarningsMember 44141299 2023-12-31 44141299 2024-01-01 2024-12-31 fsa:ContributedCapitalMember 44141299 2024-01-01 2024-12-31 fsa:RetainedEarningsMember 44141299 2024-12-31 fsa:ContributedCapitalMember 44141299 2024-12-31 fsa:RetainedEarningsMember 44141299 2025-01-01 2025-12-31 fsa:ContributedCapitalMember 44141299 2025-01-01 2025-12-31 fsa:RetainedEarningsMember 44141299 2025-12-31 fsa:ContributedCapitalMember 44141299 2025-12-31 fsa:RetainedEarningsMember 44141299 2025-01-01 2025-12-31 1 44141299 2025-01-01 2025-12-31 1 44141299 2025-01-01 2025-12-31 2 44141299 2025-01-01 2025-12-31 3 44141299 2025-01-01 2025-12-31 1 44141299 2025-01-01 2025-12-31 2 iso4217:EUR xbrli:pure Esplanaden 50 apmoller.com DK 1263 Copenhagen K 44141299 Nethe Rosa Hjørland -24401 -44182 150382 241976 1549 71 124432 197723 35468 52145 88964 145578 88964 145578 88964 145578 26000000 26000000 3097950 66644 29097950 26066644 0 4817 0 4817 1175731 4178543 1175731 4183360 30273681 30250004 2000000 2000000 28233502 28144538 30233502 30144538 4711 53293 35468 52173 40179 105466 40179 105466 30273681 30250004 60000 -1040 58960 1940000 28000000 29940000 0 145578 145578 2000000 28144538 30144538 0 88964 88964 2000000 28233502 30233502 Note 1: Business activity The object of the company is to conduct trade, provide service and operate in the industry, to own shares in other companies, and other business related hereto. Note 2: Other financial income Amounts in EUR 20252024Interest income from subsidiaries 97,838 113 Other financial income 52,544 241,863 Total 150,382 241,976 Note 3: Investments in subsidiaries Investments in subsidiaries comprise investments in entities at the development stage. These entities remain dependent on external financing, which represent a material uncertainty related to their ability to continue its activities. Management has a reasonable expectation that the re-quired funding will be obtained to support the continued activities of the subsidiaries and the assessment of carrying amount as of 31 December 2025. Note 4: Employee information Apart from the Executive Board, APMH Invest XXXV A/S has not had any employees in 2025. The Executive Board and Board of Directors have not received any remuneration from the com-pany and is remunerated by A.P. Møller Holding A/S. Note 5: Contingent liabilities The company is included in national joint taxation with Danish companies in the A.P. Moller Holding group. The company is jointly and severally liable for the payment of taxes and withholding tax. Note 6: Accounting policies CONSOLIDATED FUNANCIAL STATEMENTS APMH Invest XXXV A/S is included in the consolidated financial statements for A.P. Moller Holding A/S, Copenhagen, Denmark, Business Registration No 25 67 92 88. The consolidated financial statement of A.P. Møller Holding A/S can be required at www.cvr.dk. FOREIGN CURRENCY TRANSLATION Transactions in currencies other than the presentation currency are translated at the exchange rate prevailing at the date of the transaction. Monetary items in foreign currencies not settled at the balance sheet date are translated at the exchange rate as at the balance sheet date. INCOME STATEMENT Gross loss before financial items With reference to section 32(1) of the Danish Financial Statements Act, the company has sum-marised certain items to gross loss before financial items. Other financial income and expenses Other financial items comprise interest income and currency adjustments, etc. Tax Tax comprises an estimate of current and deferred income tax. Tax is recognised in the income statement to the extent it arises from items recognised in the income statement. BALANCE SHEET Investments in subsidiaries Investments in subsidiaries are measured at cost. The investments are written down to recovera-ble amount i.e., the higher of fair value less costs of disposal and value in use, if it is lower than the carrying amount. Dividends received from subsidiaries as well as gains and losses on sale of investments in sub-sidiaries are recognised as income from subsidiaries. Receivables Receivables are generally recognised at nominal value, substantially corresponding to amortised cost and impaired for expected losses based on the expected loss model as described in IFRS 9. Cash and bank balances Cash and bank balances comprise cash at bank. Liabilities Other financial liabilities are measured at amortised cost, substantially corresponding to nominal value. true With reference to section 110 of the Danish Financial Statements Act, the company has not pre-pared consolidated financial statements. true Copenhagen Simon Krogsgaard Ibsen Jan Thorsgaard Nielsen Chair Martin Nørkjær Larsen Nethe Rosa Hjørland MANAGEMENT’S STATEMENT The Executive Board and Board of directors have today consid-ered and adopted the Annual Report of APMH Invest XXXV A/S for the financial year 1 January – 31 December 2025. The Annual Report is prepared in accordance with the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the financial position at 31 December 2025 of the company and of the results of the company’s operations for 2025. We recommend that the Annual Report be adopted at the Annual General Meeting. OPINION In our opinion, the financial statements give a true and fair view of the financial position of the company at 31 December 2025, and of the results of the company’s operations for the financial year 1 January – 31 December 2025 in accordance with the Dan-ish Financial Statements Act. We have audited the financial statements of APMH Invest XXXV A/S for the financial year 1 January – 31 December 2025, which comprise income statement, balance sheet, statement of changes in equity and notes, including a summary of significant accounting policies (financial statements). BASIS FOR OPINION We conducted our audit in accordance with International Stand-ards on Auditing (ISAs) and the additional requirements appli-cable in Denmark. Our responsibilities under those standards and requirements are further described in the Auditor’s Respon-sibilities for the Audit of the Financial Statements section of our report. We are independent of the company in accordance with the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code) and the additional requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. MANAGEMENT’S RESPONSIBILITIES FOR THE FINANCIAL STATEMENTS Management is responsible for the preparation of Financial Statements that give a true and fair view in accordance with the Danish Financial Statements Act, and for such internal control as management determines is necessary to enable the prepara-tion of financial statements that are free from material misstate-ment, whether due to fraud or error. In preparing the financial statements, management is responsi-ble for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going con-cern and using the going concern basis of accounting in prepar-ing the financial statements unless management either intends to liquidate the company or to cease operations, or has no real-istic alternative but to do so. AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from mate-rial misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assur-ance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and the additional re-quirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these fi-nancial statements. As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we exercise pro-fessional judgment and maintain professional skepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, de-sign and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appro-priate to provide a basis for our opinion. The risk of not de-tecting a material misstatement resulting from fraud is higher than for one resulting from error as fraud may in-volve collusion, forgery, intentional omissions, misrepresen-tations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropri-ate in the circumstances, but not for the purpose of ex-pressing an opinion on the effectiveness of the company’s internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and re-lated disclosures made by management. Conclude on the appropriateness of management’s use of the going concern basis of accounting in preparing the fi-nancial statements and, based on the audit evidence ob-tained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company’s ability to continue as a going concern. If we con-clude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclo-sures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going con-cern. Evaluate the overall presentation, structure and contents of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that gives a true and fair view. We communicate with those charged with governance regard-ing, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant de-ficiencies in internal control that we identify during our audit. INDEPENDENT AUDITOR’S REPORT To the shareholders of APMH Invest XXXV A/S Copenhagen PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab 33771231 Tue Stensgård Sørensen State Authorised Public Accountant mne32200 Henrik Kyhnauv State Authorised Public Accountant mne40028 Annual report Auditor's report on audited financial statements ParsePort XBRL Converter 2025-01-01 2025-12-31 2024-01-01 2024-12-31 2026-06-12 APMH INVEST XXXV A/S Reporting class B 0 0 2026-06-12 Strandvejen 44 2900 Hellerup Opinion Basis for Opinion 2026-06-12 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab