FRANDSEN HOLDING ApS — Credit Rating and Financial Key Figures

CVR number: 25918819

Dronning Margrethes Vej 36, 4000 Roskilde

tel: 46324171

Income statement (mDKK)

	2014	2015	2016	2017	2018
Fiscal period length	12	12	12	12	12
Net sales		111.53	130.68	130.34	176.03
Costs of manufacturing		-48.84	-63.88	-55.89	-79.11
External services		-6.54	-7.38	-8.47	-12.36
Rents		-0.93	-1.47	-0.93	-1.31
Gross profit	37.55	55.21	72.06	74.50	88.16
Employee benefit expenses	-30.16	-41.63	-48.88	-53.47	-70.31
Total depreciation	-0.84	-1.26	-1.53	-1.59	-1.97
Reduction in value of non-current assets			14.11	9.45	4.91
EBIT	6.56	12.31	21.64	19.44	15.89
Other financial income	0.15	0.26	0.43	0.24	0.62
Other financial expenses	-0.80	-0.89	-1.22	-1.06	-1.14
Net income from associates (fin.)	0.16	0.09	-0.15
Pre-tax profit	5.37	10.33	20.70	18.62	15.36
Income taxes	-1.24	-2.66	-4.59	-4.14	-3.52
Net earnings	4.13	7.67	16.11	14.47	11.84

	2014	2015	2016	2017	2018
Goodwill	0.71	0.51	0.31	2.02	1.68
Intangible assets total	0.71	0.51	0.31	2.02	1.68
Land and waters	43.42
Buildings	0.30	51.18	86.19	109.45	136.83
Machinery and equipment	2.55	3.52	3.16	3.22	2.93
Other tangible assets		0.00
Tangible assets total	46.27	54.71	89.35	112.67	139.76
Participating interests	0.82	0.75
Investments total	0.82	0.75	-0.00	-0.00	0.12
Non-current other receivables	0.14	0.10
Long term receivables total	0.14	0.10
Raw materials and consumables	0.72	1.03	1.13	1.65	2.04
Inventories total	0.72	1.03	1.13	1.65	2.04
Current trade debtors	16.58	21.89	16.49	21.58	24.18
Current owed by particip. interest comp.		0.14
Prepayments and accrued income	0.05	0.04	0.13	0.08	0.54
Current other receivables	1.21	0.26	0.87	0.96	3.84
Current deferred tax assets	0.24			0.01
Short term receivables total	18.09	22.33	17.49	22.64	28.56
Other current investments	0.07		1.51	0.83	3.11
Cash and bank deposits	4.91	7.47	6.42	13.04	9.41
Cash and cash equivalents	4.97	7.47	7.93	13.88	12.53
Balance sheet total (assets)	71.72	86.89	116.20	152.86	184.69

	2014	2015	2016	2017	2018
Share capital	0.13	0.13	0.13	0.13	0.13
Shares repurchased	0.30	0.10	0.30	0.30	0.30
Other reserves	-1.35	-2.23			2.72
Retained earnings	14.60	23.25	30.25	45.57	56.33
Profit of the financial year	4.13	7.67	16.11	14.47	11.84
Minority interest (BS)	1.72	2.53	2.08	1.24	1.65
Shareholders equity total	19.52	31.45	48.87	61.71	72.97
Provisions	1.08	4.09	8.42	11.13	12.84
Non-current loans from credit institutions	21.20	25.36	38.73	46.07	58.42
Non-current leasing loans	1.45	1.59	0.63	0.29	0.05
Non-current other liabilities	0.12	0.03	0.00	0.00
Non-current deferred tax liabilities	0.37	2.22	0.35	1.68	1.85
Non-current liabilities total	23.14	29.20	39.71	48.05	60.32
Current loans from credit institutions	7.91	0.24	1.94	4.11	3.29
Advances received					0.02
Current trade creditors	5.22	5.67	5.47	14.55	16.70
Current owed to participating					0.03
Other non-interest bearing current liabilities	11.39	11.29	11.80	13.31	16.25
Accruals and deferred income	1.74	2.42			2.28
Current liabilities total	26.26	19.62	19.21	31.97	38.56
Balance sheet total (liabilities)	70.00	84.36	116.21	152.86	184.69

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