MODSTRØM DANMARK A/S — Credit Rating and Financial Key Figures

CVR number: 33884788

Islands Brygge 43, 2300 København S

kreditor@modstroem.dk

tel: 82100200

modstroem.dk

Income statement (mDKK)

	2014	2015	2016	2017	2018
Fiscal period length	12	12	12	12	12
Net sales	157.50	155.94	180.31	204.66	261.71
Other operating income		4.27
Purchases during the financial year	-99.35	-81.85	-98.93	- 108.56	- 158.74
External services	-17.48	-18.89	-21.21	-28.11	-33.79
Gross profit	40.67	59.47	60.16	67.99	69.17
Employee benefit expenses	-30.52	-40.82	-44.81	-54.08	-49.45
Total depreciation	-5.52	-5.68	-7.01	-8.47	-8.15
EBIT	4.63	12.96	8.34	5.45	11.57
Other financial income	5.23	0.35	0.85	0.02
Other financial expenses	-2.35	-2.89	-3.70	-5.34	-2.82
Pre-tax profit	7.51	10.43	5.49	0.13	8.75
Income taxes	-1.98	-2.49	-1.35	-0.07	-1.94
Net earnings	5.53	7.95	4.14	0.05	6.81

	2014	2015	2016	2017	2018
Development expenditure	3.46	6.25	8.74	10.33	11.64
Intangible rights	0.27	0.94	0.65	0.34
Goodwill	18.61	13.68	8.76	3.80	0.26
Intangible assets total	22.33	20.87	18.15	14.46	11.90
Land and waters	0.26	0.19	0.11	1.19	1.12
Machinery and equipment	1.15	1.16	1.05	1.80	1.13
Tangible assets total	1.41	1.35	1.17	2.99	2.25
Investments total
Non-current loans receivable	14.92	14.70	15.30	1.00	1.00
Non-current other receivables	0.40	0.69	1.61	1.63	1.54
Long term receivables total	15.32	15.39	16.91	2.63	2.54
Finished products/goods	3.06	3.56	3.79	3.81	1.71
Advance payments		0.08	0.08
Inventories total	3.06	3.63	3.87	3.81	1.71
Current trade debtors	44.55	44.13	173.53	158.32	171.01
Current owed by particip. interest comp.		0.19
Prepayments and accrued income	0.95	0.28	1.49	0.30	0.85
Current other receivables	0.78	0.82	1.44	1.12	0.97
Current deferred tax assets	0.25	0.11	0.27	0.90	0.18
Short term receivables total	46.53	45.52	176.74	160.64	173.01
Other current investments				12.56
Cash and bank deposits	31.42	51.17	68.94	76.21	109.79
Cash and cash equivalents	31.42	51.17	68.94	88.77	109.79
Balance sheet total (assets)	120.07	137.94	285.76	273.31	301.22

	2014	2015	2016	2017	2018
Share capital	0.50	0.50	0.50	1.00	1.00
Other reserves			2.75	5.36	7.81
Retained earnings	10.05	16.68	22.07	18.66	16.26
Profit of the financial year	5.53	7.95	4.14	0.05	6.81
Minority interest (BS)			-0.07	-0.09	-0.09
Shareholders equity total	16.08	25.12	29.40	24.97	31.79
Provisions			0.61	0.59	1.79
Non-current liabilities total
Current loans from credit institutions			0.01		0.12
Advances received	68.83	70.99	154.78	152.81	153.97
Current trade creditors	19.83	13.71	73.61	60.03	70.08
Short-term deferred tax liabilities	0.31	1.79
Other non-interest bearing current liabilities	15.03	26.33	27.36	34.90	43.48
Current liabilities total	104.00	112.82	255.75	247.74	267.64
Balance sheet total (liabilities)	120.07	137.94	285.76	273.31	301.22

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