THORKILD KRISTENSEN HOLDING A/S — Credit Rating and Financial Key Figures

CVR number: 27462154

Store Regnegade 17, 1110 København K

jho@2l.dk

tel: 70200235

Income statement (mDKK)

	2013	2014	2015	2016	2017
Fiscal period length	12	12	12	12	12
Net sales	54.85		67.45	87.89	98.25
Other operating income	15.21		0.18	0.13	6.67
Purchases during the financial year	-1.04		-1.86
External services	-14.99	-0.14	-16.08	-17.50	-16.24
Gross profit	54.03	-0.14	49.69	68.90	91.51
Employee benefit expenses	-43.72		-43.18	-41.02	-29.53
Total depreciation	-2.23		-1.64	-1.89	-0.80
Reduction in value of non-current assets	0.25		-0.02	-3.24	5.66
EBIT	8.34	-0.14	4.84	25.98	61.17
Other financial income	1.82	0.00	0.19	8.55	15.91
Other financial expenses	-5.76	-0.63	-3.57	-4.51	-4.67
Reduction non-current investment assets			-1.07
Income from other inv. held as non-curr. assets	0.83		6.00
Net income from associates (fin.)	3.24	1.20	9.02	-14.72	-0.07
Pre-tax profit	8.47	1.47	10.41	15.31	72.35
Income taxes	0.33	0.10	-2.31	-4.45	-10.91
Net earnings	8.80	1.57	8.10	10.86	61.44

	2013	2014	2015	2016	2017
Goodwill	5.32		2.68	1.71
Intangible assets total	5.32		2.68	1.71
Land and waters	7.56		8.83	9.06
Buildings	19.63		22.68	160.08	139.22
Machinery and equipment	1.07		0.83	4.22	3.27
Tangible assets total	28.26		32.33	173.35	142.48
Holdings in group member companies		73.17
Participating interests	79.32		87.92	0.30
Investments total	79.66	73.17	88.33	0.64	0.22
Non-current loans receivable	54.67		53.91	62.77	82.44
Long term receivables total	54.67		53.91	62.77	82.44
Semifinished products	1.10
Finished products/goods			1.10	1.10	1.10
Inventories total	1.10		1.10	1.10	1.10
Current trade debtors	16.32			30.16	82.75
Current amounts owed by group member comp.		1.57	15.51
Current owed by particip. interest comp.	0.01
Prepayments and accrued income	1.37		0.40	0.29	0.24
Current other receivables	11.31	-6.09	3.51	17.90	35.14
Current deferred tax assets	4.41	0.10	8.50	6.48	5.22
Short term receivables total	33.42	-4.42	27.92	54.83	123.35
Other current investments			0.27	0.29	0.29
Cash and bank deposits	10.94	6.16	11.37	33.73	21.41
Cash and cash equivalents	10.94	6.16	11.63	34.02	21.70
Balance sheet total (assets)	213.37	74.91	217.90	328.43	371.30

	2013	2014	2015	2016	2017
Share capital	25.00	25.00	25.00	25.00	25.00
Asset revaluation reserve			1.77	1.99
Other reserves	-40.50	10.48	-45.92
Retained earnings	23.52	21.82	32.32	35.16	27.34
Profit of the financial year	8.80	1.57	8.10	10.86	61.44
Minority interest (BS)	40.50		45.92	53.52	71.52
Shareholders equity total	57.32	58.87	67.19	126.53	185.30
Provisions	12.96		4.19	14.93	19.69
Non-current loans from credit institutions	69.61		41.77	54.93
Non-current other liabilities	0.46		0.42	0.40
Non-current liabilities total	70.07		42.19	55.33
Current loans from credit institutions	4.80	15.20	34.63	63.77	96.06
Current trade creditors	3.42	0.07	4.05	4.04	3.02
Current owed to group member	0.46
Short-term deferred tax liabilities	1.09		1.61	4.67	6.89
Other non-interest bearing current liabilities	15.44	0.78	9.98	59.11	60.28
Accruals and deferred income	7.32		8.15	0.05	0.07
Current liabilities total	32.51	16.04	58.41	131.63	166.31
Balance sheet total (liabilities)	172.87	74.91	171.98	328.43	371.30

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