POLAR SEAFOOD GREENLAND A/S

CVR number: 11812910

Imaneq 24, 3900 Nuuk

Income statement (mDKK)

	2019	2020	2021	2022	2023
Fiscal period length	12	12	12	12	12
Net sales	3 094.78	3 028.55	1 658.34	1 481.13	1 487.75
Other operating income	75.22	26.03	63.15	59.43	26.62
Costs of manufacturing	-2 183.40	-2 059.27	-1 021.74	- 828.42	- 887.95
External services	-89.64	- 107.77	-69.44	-77.59	-82.46
Gross profit	896.96	887.54	630.30	634.55	543.96
Employee benefit expenses	- 506.77	- 496.16	- 359.65	- 377.74	- 404.20
Total depreciation	-58.75	- 105.29	-99.40	- 108.70	-91.39
EBIT	331.44	286.10	171.25	148.11	48.37
Other financial income	22.50	2.90	13.09	0.94	1.81
Other financial expenses	-10.55	-27.40	-11.55	-10.52	-21.91
Reduction non-current investment assets	-31.16	-41.64	-4.31	-2.69	-4.36
Net income from associates (fin.)	14.62	13.37	88.62	60.04	60.58
Pre-tax profit	326.86	233.32	257.10	195.88	84.49
Income taxes	-63.21	-56.62	-44.54	-33.20	-7.08
Net earnings	263.65	176.70	212.56	162.68	77.41

	2019	2020	2021	2022	2023
Intangible rights	2.77	0.27
Goodwill	4.49	2.68	0.81
Intangible assets total	7.26	2.95	0.81
Land and waters	161.25	157.94	83.02	74.94	71.68
Buildings	72.55	62.66	21.60	21.39	21.96
Machinery and equipment	791.23	741.46	975.45	921.80	866.78
Advance payments and construction in progress	12.64	23.18		4.80	11.91
Tangible assets total	1 037.67	985.25	1 080.08	1 022.94	972.33
Participating interests	214.56	225.81	887.45	891.94	636.32
Investments total	214.56	225.81	887.45	891.94	636.32
Non-curr. owed by particip. interest comp.	131.44	118.31			75.00
Non-current loans receivable	0.91	0.84	0.82	0.81	0.97
Non-current other receivables	33.23	33.68	28.67	33.39	104.41
Long term receivables total	165.58	152.84	29.49	34.20	180.38
Raw materials and consumables	38.33	33.51	28.76	41.61	40.23
Finished products/goods	621.74	521.18	62.02	48.40	73.34
Inventories total	660.07	554.68	90.78	90.01	113.57
Current trade debtors	411.60	410.63	7.32	1.62	17.68
Current owed by particip. interest comp.	32.99	36.17	82.66	151.23	157.14
Prepayments and accrued income	9.48	14.77	1.78	2.76	12.10
Current other receivables	55.52	85.50	8.21	7.29	21.90
Current deferred tax assets	3.95	25.35		0.70	1.17
Short term receivables total	513.54	572.41	99.97	163.59	209.99
Cash and bank deposits	64.85	204.39	13.24	23.74	93.30
Cash and cash equivalents	64.85	204.39	13.24	23.74	93.30
Balance sheet total (assets)	2 663.54	2 698.33	2 201.81	2 226.42	2 205.89

	2019	2020	2021	2022	2023
Share capital	1.00	1.00	1.00	1.00	1.00
Shares repurchased		50.00		12.00	16.80
Other reserves	140.18	136.94	801.92	821.82	561.40
Retained earnings	842.82	961.15	439.80	640.29	710.47
Profit of the financial year	263.65	176.70	212.56	162.68	77.41
Minority interest (BS)	689.75	715.09	133.12	92.89	110.59
Shareholders equity total	1 937.40	2 040.87	1 588.39	1 730.69	1 477.68
Provisions	91.58	113.09	113.63	104.67	88.58
Non-current loans from credit institutions	18.06	16.28			315.83
Non-current deferred tax liabilities	7.19	1.23	1.23	1.23	1.23
Non-current liabilities total	25.25	17.51	1.23	1.23	317.06
Current loans from credit institutions	70.61	103.43	0.06	0.04	50.30
Current trade creditors	230.80	145.17	48.08	41.40	44.70
Current owed to participating	94.72	54.27	220.01	36.07	5.37
Short-term deferred tax liabilities	20.86	17.55	14.71	49.04	9.96
Other non-interest bearing current liabilities	192.32	206.44	215.71	263.31	212.25
Current liabilities total	609.32	526.86	498.56	389.85	322.58
Balance sheet total (liabilities)	2 663.54	2 698.33	2 201.81	2 226.42	2 205.89

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