M. GRUNNET HOLDING A/S — Credit Rating and Financial Key Figures

CVR number: 35046062

Højbro Plads 6, 1200 København K

Income statement (mDKK)

	2020	2021	2022	2023	2024
Fiscal period length	12	12	12	12	12
Net sales	474.02	546.62	668.40	602.55	715.84
Change in finished goods inventory				-7.46	15.22
Other operating income				5.56	4.18
Costs of manufacturing				- 291.96	- 392.36
External services				-80.32	-92.77
Gross profit	175.61	203.64	234.36	228.38	250.11
Employee benefit expenses				- 147.21	- 171.54
Other operating expenses				-0.13	-0.94
Total depreciation				-21.35	-23.41
EBIT	6.10	43.81	66.21	59.69	54.22
Other financial income				38.75	78.74
Other financial expenses				-8.17	-11.48
Net income from associates (fin.)				62.16	322.99
Pre-tax profit	75.81	185.26	64.75	152.44	444.48
Income taxes				-24.80	-39.06
Net earnings	75.81	185.26	64.75	127.64	405.42

	2020	2021	2022	2023	2024
Development expenditure				13.58	7.89
Intangible rights				0.57	7.22
Goodwill				18.23	12.95
Intangible assets total				32.38	28.06
Land and waters				43.75	45.23
Buildings				25.98	44.49
Machinery and equipment				1.84	2.85
Advance payments and construction in progress				20.46	2.50
Tangible assets total				92.03	95.07
Participating interests				645.16	730.16
Investments total	1 002.10	1 232.17	1 275.96	645.59	730.73
Non-current loans receivable				0.19	0.19
Long term receivables total				0.19	0.19
Semifinished products				29.88	42.09
Raw materials and consumables				34.56	59.65
Finished products/goods				26.89	29.91
Advance payments				3.08	0.19
Inventories total				94.41	131.84
Current trade debtors				91.90	142.31
Current owed by particip. interest comp.				7.50	0.07
Prepayments and accrued income				2.56	3.81
Current other receivables				10.81	16.00
Current deferred tax assets				5.26	4.60
Short term receivables total				118.03	166.78
Other current investments				331.10	533.45
Cash and bank deposits				43.93	48.87
Cash and cash equivalents				375.03	582.32
Balance sheet total (assets)	1 002.10	1 232.17	1 275.96	1 357.67	1 734.98

	2020	2021	2022	2023	2024
Share capital	757.31	943.74	996.96	1.50	1.50
Shares repurchased				20.00	40.00
Other reserves				333.88	402.30
Retained earnings	-75.81	- 185.26	-64.75	624.33	623.76
Profit of the financial year	75.81	185.26	64.75	127.64	405.42
Minority interest (BS)				3.06	3.04
Shareholders equity total	757.31	943.74	996.96	1 110.40	1 476.02
Provisions				2.65	3.68
Non-current loans from credit institutions				24.63	20.97
Non-current leasing loans				4.79	1.40
Non-current other liabilities				5.08	6.16
Non-current liabilities total				34.50	28.53
Current loans from credit institutions				93.75	89.30
Advances received				2.41	3.72
Current trade creditors				44.41	56.05
Short-term deferred tax liabilities				6.84	27.37
Other non-interest bearing current liabilities				60.30	47.49
Accruals and deferred income				2.40	2.82
Current liabilities total				210.12	226.75
Balance sheet total (liabilities)	757.31	943.74	996.96	1 357.67	1 734.98

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