Thornico Food & Food Technology Group A/S — Credit Rating and Financial Key Figures
CVR number: 37750913
Havnegade 36, 5000 Odense C
Income statement (mDKK)
2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Fiscal period length | 12 | 12 | 12 | 12 | 12 |
| Net sales | 4 895.66 | 5 539.79 | 6 758.15 | 7 372.77 | 7 571.36 |
| Change in finished goods inventory | -40.58 | -66.83 | |||
| Manufacturing for enterprise's own use | 21.05 | ||||
| Other operating income | 6.38 | 82.61 | 3.37 | 3.71 | |
| Purchases during the financial year | -2 925.45 | -3 844.51 | -3 891.58 | -3 785.37 | |
| External services | - 821.45 | - 914.89 | -1 074.71 | -1 104.07 | |
| Gross profit | 1 878.05 | 1 799.27 | 2 081.36 | 2 448.56 | 2 769.72 |
| Employee benefit expenses | -1 105.47 | -1 224.69 | -1 377.77 | -1 477.15 | |
| Other operating expenses | -1.86 | -3.80 | |||
| Total depreciation | - 348.60 | - 404.90 | - 400.85 | - 322.76 | |
| Reduction in value of non-current assets | 25.94 | 2.14 | 1.15 | ||
| EBIT | 633.30 | 345.19 | 477.71 | 672.09 | 970.96 |
| Other financial income | 107.49 | 75.96 | 28.97 | 46.31 | |
| Other financial expenses | -58.65 | - 122.57 | -99.18 | - 134.38 | |
| Net income from associates (fin.) | 0.31 | 0.46 | 0.75 | 0.41 | |
| Pre-tax profit | 366.86 | 383.54 | 431.55 | 568.73 | 883.29 |
| Income taxes | -95.97 | - 129.94 | - 202.44 | - 213.67 | |
| Profit/loss from discontinued operations | -0.10 | -91.10 | |||
| Net earnings | 366.86 | 287.48 | 210.51 | 366.29 | 669.62 |
Assets (mDKK)
2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Development expenditure | 84.35 | 106.55 | 117.38 | 137.72 | |
| Intangible rights | 124.08 | 95.52 | 80.59 | 75.29 | |
| Goodwill | 186.26 | 122.55 | 73.13 | 61.77 | |
| Intangible assets total | 394.69 | 324.62 | 271.10 | 274.79 | |
| Land and waters | 825.28 | 789.37 | 727.30 | 762.99 | |
| Buildings | 986.84 | 1 192.04 | 1 161.12 | 1 356.20 | |
| Machinery and equipment | 69.26 | 58.37 | 51.83 | 66.55 | |
| Advance payments and construction in progress | 359.48 | 114.67 | 195.02 | 246.45 | |
| Tangible assets total | 2 240.86 | 2 154.45 | 2 135.26 | 2 432.19 | |
| Participating interests | 10.89 | 11.65 | 13.68 | 13.16 | |
| Investments total | 4 167.90 | 10.89 | 11.65 | 13.68 | 13.16 |
| Non-current loans receivable | 15.69 | 10.16 | 10.29 | 9.53 | |
| Long term receivables total | 15.69 | 10.16 | 10.29 | 9.53 | |
| Finished products/goods | 835.85 | 1 062.32 | 1 073.22 | 1 183.23 | |
| Inventories total | 835.85 | 1 062.32 | 1 073.22 | 1 183.23 | |
| Current trade debtors | 912.49 | 1 044.19 | 1 085.45 | 1 194.58 | |
| Current amounts owed by group member comp. | 20.47 | 5.92 | 6.39 | 0.18 | |
| Current owed by particip. interest comp. | 3.81 | 1.91 | 2.88 | ||
| Prepayments and accrued income | 40.38 | 73.98 | 85.44 | 114.57 | |
| Current other receivables | 218.00 | 302.66 | 178.34 | 172.34 | |
| Current deferred tax assets | 116.14 | 125.91 | 87.93 | 85.07 | |
| Short term receivables total | 1 311.28 | 1 552.65 | 1 445.45 | 1 569.63 | |
| Cash and bank deposits | 353.97 | 479.43 | 658.96 | 589.33 | 625.20 |
| Cash and cash equivalents | 353.97 | 479.43 | 658.96 | 589.33 | 625.20 |
| Non-current assets for sale | 91.50 | ||||
| Balance sheet total (assets) | 4 521.88 | 5 288.69 | 5 866.31 | 5 538.34 | 6 107.72 |
Equity and liabilities (mDKK)
2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Share capital | 1 961.04 | 59.90 | 59.90 | 59.90 | 59.90 |
| Asset revaluation reserve | 6.24 | 6.24 | 6.24 | ||
| Shares repurchased | 100.00 | 100.00 | 100.00 | ||
| Other reserves | 17.82 | 78.74 | -25.86 | - 130.82 | |
| Other restricted equity | -7.75 | -5.54 | -17.25 | -4.50 | |
| Retained earnings | - 366.86 | 1 502.24 | 1 686.07 | 1 354.35 | 1 757.94 |
| Profit of the financial year | 366.86 | 287.48 | 210.51 | 366.29 | 669.62 |
| Minority interest (BS) | 427.86 | 436.01 | 199.99 | 184.53 | |
| Shareholders equity total | 1 961.04 | 2 387.54 | 2 571.93 | 2 043.65 | 2 542.91 |
| Provisions | 101.69 | 123.69 | 141.74 | 157.13 | |
| Non-current loans from credit institutions | 1 044.98 | 1 037.47 | 955.09 | 857.09 | |
| Non-current deferred tax liabilities | 18.51 | 16.72 | 9.78 | 9.16 | |
| Non-current liabilities total | 1 063.49 | 1 054.19 | 964.86 | 866.24 | |
| Current loans from credit institutions | 683.18 | 679.17 | 349.62 | 379.56 | |
| Advances received | 241.31 | 345.47 | |||
| Current trade creditors | 509.54 | 630.35 | 607.95 | 632.36 | |
| Current owed to participating | 18.87 | 16.76 | 10.37 | 8.69 | |
| Current owed to group member | 0.98 | 138.94 | 608.39 | 634.20 | |
| Short-term deferred tax liabilities | 56.22 | 63.72 | 75.01 | 100.56 | |
| Other non-interest bearing current liabilities | 467.18 | 569.14 | 534.63 | 440.60 | |
| Liabilities of non-current assets for sale | 18.40 | ||||
| Current liabilities total | 1 735.97 | 2 116.50 | 2 427.29 | 2 541.43 | |
| Balance sheet total (liabilities) | 1 961.04 | 5 288.69 | 5 866.31 | 5 577.54 | 6 107.72 |
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