Dolphin HoldCo A/S — Credit Rating and Financial Key Figures

CVR number: 41087811

Hørmarken 2, 3520 Farum

mp@danelec.com

tel: 45944316

Income statement (mDKK)

	2020	2021	2022	2023
Fiscal period length	12	12	12	12
Net sales	111.06	168.64	298.01	330.31
Manufacturing for enterprise's own use	8.96	-13.61	-11.97	-13.53
Costs of manufacturing	-39.39	-65.23	- 118.01	- 124.80
External services	-16.64	-28.16	-38.35	-65.58
Gross profit	64.00	88.86	153.61	153.46
Employee benefit expenses	-25.91	-48.10	-71.75	-88.80
Total depreciation	-40.30	-48.68	-54.80	-58.32
EBIT	-2.21	-7.92	27.06	6.35
Other financial income	0.09	0.61	0.78	0.21
Other financial expenses	-6.55	-8.43	-12.83	-16.21
Pre-tax profit	-8.67	-15.74	15.01	-9.65
Income taxes	-3.35	-1.12	-9.51	-6.11
Net earnings	-12.03	-16.86	5.50	-15.77

	2020	2021	2022	2023
Development expenditure	35.40	46.38	55.04	67.36
Intangible rights	2.50	2.39	2.19	8.63
Goodwill	242.59	294.38	257.48	220.57
Intangible assets total	280.49	343.15	314.70	296.56
Machinery and equipment	0.91	1.35	4.22	4.26
Tangible assets total	0.91	1.35	4.22	4.26
Other non-current investments				10.36
Investments total				10.36
Non-current loans receivable		6.18
Non-current other receivables		2.50	7.64	12.79
Deferred tax assets		1.97
Long term receivables total		10.64	7.64	12.79
Semifinished products		0.35	0.64	0.19
Raw materials and consumables		8.35	12.16	7.51
Finished products/goods	15.46	21.62	27.20	32.15
Inventories total	15.46	30.32	40.00	39.85
Current trade debtors	13.18	28.61	60.09	67.24
Prepayments and accrued income	0.99	1.73	4.91	1.66
Current other receivables	1.20	4.44	2.78	2.06
Short term receivables total	15.37	34.78	67.78	70.97
Cash and bank deposits	13.47	17.92	18.03	15.55
Cash and cash equivalents	13.47	17.92	18.03	15.55
Balance sheet total (assets)	325.69	438.16	452.38	450.33

	2020	2021	2022	2023
Share capital	1.09	1.10	1.51	1.51
Share premium account	97.09	0.10	153.31
Other reserves		-1.10
Retained earnings	18.08	16.85	-15.14	144.75
Profit of the financial year	-12.03	-16.86	5.50	-15.77
Minority interest (BS)	1.24	0.00	2.66	2.12
Shareholders equity total	105.46	0.09	147.83	132.62
Provisions	9.09	15.66	20.45	29.30
Non-current loans from credit institutions	64.75	149.52	104.35	104.01
Non-current owed to group member	128.09	131.43	79.43	82.24
Non-current other liabilities	9.09	15.66
Non-current liabilities total	201.93	296.61	183.78	186.25
Current loans from credit institutions	0.30	12.70	45.40	47.48
Advances received			3.88	6.63
Current trade creditors	9.02	15.14	21.14	26.57
Short-term deferred tax liabilities	2.20	4.22	4.77	0.34
Other non-interest bearing current liabilities	134.88	16.17	25.13	21.16
Accruals and deferred income		2.86
Current liabilities total	146.39	51.09	100.32	102.17
Balance sheet total (liabilities)	462.87	363.44	452.38	450.33

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