NØRAGER MEJERI A/S — Credit Rating and Financial Key Figures

CVR number: 11567673

Nordre Ringgade 2, 9330 Dronninglund

Income statement (mDKK)

	2019	2020	2021	2022	2023
Fiscal period length	12	12	12	12	12
Net sales	456.86	454.20	481.38	598.15	679.96
Change in finished goods inventory				15.64	-2.83
Other operating income				1.50	4.92
Costs of manufacturing				- 450.11	- 489.89
External services				-46.89	-54.20
Gross profit	105.60	99.53	90.05	118.28	137.97
Employee benefit expenses				-92.34	- 111.66
Other operating expenses				-0.52	-0.21
Total depreciation				-15.45	-14.53
EBIT	14.96	5.35	-10.62	9.98	11.57
Other financial income				1.04	0.97
Other financial expenses				-5.59	-9.45
Pre-tax profit	10.07	2.71	-9.83	5.42	3.09
Income taxes				-0.95	-0.53
Net earnings	10.07	2.71	-9.83	4.47	2.56

	2019	2020	2021	2022	2023
Intangible rights				0.04	0.27
Intangible assets total				0.04	0.27
Land and waters				57.72	56.26
Buildings				45.23	57.17
Machinery and equipment				0.33	0.14
Advance payments and construction in progress				16.83	15.22
Tangible assets total				120.11	128.78
Other non-current investments				0.47
Investments total	241.40	212.32	232.30	0.47
Long term receivables total
Raw materials and consumables				17.73	18.24
Finished products/goods				39.82	36.99
Inventories total				57.55	55.23
Current trade debtors				12.80	8.49
Current amounts owed by group member comp.				66.42	51.55
Prepayments and accrued income				0.26	0.29
Current other receivables				11.16	11.45
Current deferred tax assets					0.25
Short term receivables total				90.63	72.03
Cash and bank deposits				0.00
Cash and cash equivalents				0.00
Balance sheet total (assets)	241.40	212.32	232.30	268.81	256.31

	2019	2020	2021	2022	2023
Share capital	53.41	48.61	38.78	3.00	3.00
Retained earnings	-10.07	-2.71	9.83	35.78	40.25
Profit of the financial year	10.07	2.71	-9.83	4.47	2.56
Shareholders equity total	53.41	48.61	38.78	43.25	45.81
Provisions				2.24	3.02
Non-current loans from credit institutions				77.23	69.75
Non-current leasing loans				0.22	0.15
Non-current accruals and deferred income				3.96	3.49
Non-current other liabilities				15.67	12.13
Non-current liabilities total				97.08	85.52
Current loans from credit institutions				60.69	52.15
Current trade creditors				45.85	50.28
Current owed to group member				0.31	0.67
Other non-interest bearing current liabilities				19.17	18.40
Accruals and deferred income				0.21	0.45
Current liabilities total				126.23	121.95
Balance sheet total (liabilities)	53.41	48.61	38.78	268.81	256.31

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