POLAR SEAFOOD GREENLAND A/S — Credit Rating and Financial Key Figures

CVR number: 11812910

Imaneq 24, 3900 Nuuk

Income statement (mDKK)

	2020	2021	2022	2023	2024
Fiscal period length	12	12	12	12	12
Net sales	3 028.55	1 658.34	1 481.13	1 487.75	1 588.12
Other operating income	26.03	63.15	59.43	26.62	40.56
Costs of manufacturing	-2 059.27	-1 021.74	- 828.42	- 887.95	- 915.22
External services	- 107.77	-69.44	-77.59	-82.46	-97.30
Gross profit	887.54	630.30	634.55	543.96	616.16
Employee benefit expenses	- 496.16	- 359.65	- 377.74	- 404.20	- 449.92
Total depreciation	- 105.29	-99.40	- 108.70	-91.39	-70.88
EBIT	286.10	171.25	148.11	48.37	95.37
Other financial income	2.90	13.09	0.94	1.81	4.97
Other financial expenses	-27.40	-11.55	-10.52	-21.91	-23.61
Reduction non-current investment assets	-41.64	-4.31	-2.69	-4.36	-7.76
Net income from associates (fin.)	13.37	88.62	60.04	60.58	50.21
Pre-tax profit	233.32	257.10	195.88	84.49	119.18
Income taxes	-56.62	-44.54	-33.20	-7.08	-20.31
Net earnings	176.70	212.56	162.68	77.41	98.87

	2020	2021	2022	2023	2024
Intangible rights	0.27				9.41
Goodwill	2.68	0.81
Intangible assets total	2.95	0.81			9.41
Land and waters	157.94	83.02	74.94	71.68	86.10
Buildings	62.66	21.60	21.39	21.96	30.06
Machinery and equipment	741.46	975.45	921.80	866.78	926.43
Advance payments and construction in progress	23.18		4.80	11.91
Tangible assets total	985.25	1 080.08	1 022.94	972.33	1 042.59
Participating interests	225.81	887.45	891.94	636.32	615.76
Investments total	225.81	887.45	891.94	636.32	615.76
Non-curr. owed by particip. interest comp.	118.31			75.00
Non-current loans receivable	0.84	0.82	0.81	0.97	1.04
Non-current other receivables	33.68	28.67	33.39	104.41	99.80
Long term receivables total	152.84	29.49	34.20	180.38	100.84
Raw materials and consumables	33.51	28.76	41.61	40.23	37.79
Finished products/goods	521.18	62.02	48.40	73.34	67.67
Inventories total	554.68	90.78	90.01	113.57	105.46
Current trade debtors	410.63	7.32	1.62	17.68	121.33
Current owed by particip. interest comp.	36.17	82.66	151.23	157.14	301.44
Prepayments and accrued income	14.77	1.78	2.76	12.10	9.06
Current other receivables	85.50	8.21	7.29	21.90	12.26
Current deferred tax assets	25.35		0.70	1.17	6.63
Short term receivables total	572.41	99.97	163.59	209.99	450.71
Cash and bank deposits	204.39	13.24	23.74	93.30	43.37
Cash and cash equivalents	204.39	13.24	23.74	93.30	43.37
Balance sheet total (assets)	2 698.33	2 201.81	2 226.42	2 205.89	2 368.14

	2020	2021	2022	2023	2024
Share capital	1.00	1.00	1.00	1.00	1.00
Shares repurchased	50.00		12.00	16.80	18.00
Other reserves	136.94	801.92	821.82	561.40	549.77
Retained earnings	961.15	439.80	640.29	710.47	771.76
Profit of the financial year	176.70	212.56	162.68	77.41	98.87
Minority interest (BS)	715.09	133.12	92.89	110.59	170.73
Shareholders equity total	2 040.87	1 588.39	1 730.69	1 477.68	1 610.14
Provisions	113.09	113.63	104.67	88.58	110.07
Non-current loans from credit institutions	16.28			315.83	267.05
Non-current deferred tax liabilities	1.23	1.23	1.23	1.23
Non-current liabilities total	17.51	1.23	1.23	317.06	267.05
Current loans from credit institutions	103.43	0.06	0.04	50.30	52.72
Current trade creditors	145.17	48.08	41.40	44.70	56.93
Current owed to participating	54.27	220.01	36.07	5.37	0.09
Short-term deferred tax liabilities	17.55	14.71	49.04	9.96	1.62
Other non-interest bearing current liabilities	206.44	215.71	263.31	212.25	269.52
Current liabilities total	526.86	498.56	389.85	322.58	380.88
Balance sheet total (liabilities)	2 698.33	2 201.81	2 226.42	2 205.89	2 368.14

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