Nexion Northern Europe A/S — Credit Rating and Financial Key Figures

CVR number: 16174394

Barrit Langgade 188-190, 7150 Barrit

stenhoj-as@stenhoj.dk

tel: 76821282

Income statement (mDKK)

	2013	2014	2015	2016	2017
Fiscal period length	12	12	12	12	12
Net sales	602.41	646.60	694.31	694.88	108.63
Other operating income		0.06	0.06		1.98
Costs of manufacturing	- 448.67	- 475.87	- 510.15	- 501.48	-77.29
Gross profit	153.75	170.73	184.22	193.40	31.34
Costs of management	-73.32	-74.67	-86.33	-79.11	-13.68
Costs of distribution	-61.26	-71.63	-71.45	-71.37	-10.67
Other operating expenses	-1.26	-1.70	-3.96	-0.67	-0.40
EBIT	17.91	22.78	22.49	42.24	8.58
Other financial income	0.52	0.47	1.23	0.33	0.07
Other financial expenses	-9.04	-9.46	-8.26	-8.53	-1.35
Net income from associates (fin.)	0.47	0.22	0.71	3.01	0.04
Pre-tax profit	9.78	14.01	16.16	37.05	7.35
Income taxes	-3.73	-3.91	-4.75	-9.99	-1.67
Net earnings	6.04	10.10	11.42	27.06	5.68

	2013	2014	2015	2016	2017
Development expenditure	3.41	2.78	7.02	10.37	1.70
Intangible rights	1.21	1.00		10.06	1.48
Goodwill	2.78	2.48	1.77	1.62	2.37
Intangible assets total	7.40	6.26	8.79	22.06	5.54
Land and waters	67.58	70.45	68.97	70.53	2.67
Buildings	14.04	18.24	14.30	11.94	1.36
Machinery and equipment	9.77	12.96	12.40	8.43	1.38
Advance payments and construction in progress	8.44	3.46			0.04
Tangible assets total	99.83	105.11	95.67	90.90	5.45
Participating interests	4.23	4.29	4.45	4.67	0.38
Investments total	4.23	4.29	4.45	4.67	0.38
Non-curr. owed by particip. interest comp.	1.02	0.99	0.94	0.02	0.00
Deferred tax assets	4.53	4.62
Long term receivables total	5.54	5.61	0.94	0.02	0.00
Semifinished products	7.59	7.25	8.01	14.28	2.32
Raw materials and consumables	54.39	58.12	55.07	49.21	7.38
Finished products/goods	74.49	68.15	56.49	61.12	13.42
Advance payments	0.69	1.20	0.96	1.71	0.20
Inventories total	137.15	134.71	120.53	126.33	23.32
Current trade debtors	96.67	100.10	100.80	95.03	15.88
Current amounts owed by group member comp.				11.04	1.52
Current owed by particip. interest comp.	0.20
Prepayments and accrued income	4.64	4.36	7.69	5.30	1.01
Current other receivables	7.16	6.38	8.42	9.12	1.52
Current deferred tax assets		0.85	7.68	6.42	1.68
Short term receivables total	108.66	111.69	124.59	126.90	21.61
Cash and bank deposits	4.17	3.33	2.67	1.99	0.61
Cash and cash equivalents	4.17	3.33	2.67	1.99	0.61
Balance sheet total (assets)	366.99	371.00	357.65	372.86	56.91

	2013	2014	2015	2016	2017
Share capital	17.43	17.43	17.43	17.43	2.34
Asset revaluation reserve	35.05	40.99	43.99	45.97
Shares repurchased		3.00	41.10	3.00	0.67
Other reserves	2.98	3.04	3.20	6.26	0.47
Retained earnings	27.40	32.89	-7.40	-5.20	3.92
Profit of the financial year	6.04	10.10	11.42	27.06	5.68
Minority interest (BS)				0.97	0.16
Shareholders equity total	88.89	107.45	109.73	95.48	13.24
Provisions	4.12	4.71	5.47	5.71	0.25
Capital loans	2.00
Non-current loans from credit institutions	45.78	38.57	30.97	50.68	5.87
Non-current leasing loans	6.71	7.16	5.68	4.72	0.51
Non-current advances received	0.22	0.31	0.35	0.33	0.24
Non-current other liabilities					0.67
Non-current deferred tax liabilities				0.63	0.10
Non-current liabilities total	54.72	46.04	37.00	56.37	7.39
Current loans from credit institutions	9.30	10.60	47.69	68.10	12.68
Advances received	16.31	22.78	19.70	16.09	1.43
Current trade creditors	59.56	55.73	69.89	70.20	11.60
Current owed to participating		0.60
Short-term deferred tax liabilities	2.66	2.52	2.98	7.42	1.40
Other non-interest bearing current liabilities	131.44	120.56	65.18	53.49	8.92
Current liabilities total	219.27	212.80	205.44	215.30	36.02
Balance sheet total (liabilities)	366.99	371.00	357.65	372.86	56.91

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