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	612.92	577.33	884.76	791.97	829.99
Other operating income	29.35	67.99	61.95	29.60	45.17
Costs of manufacturing	- 346.21	- 290.96	- 449.46	- 495.12	- 483.80
External services	-27.52	-28.94	-42.32	-47.99	-57.70
Gross profit	268.54	325.42	454.94	278.46	333.66
Employee benefit expenses	- 181.35	- 176.23	- 237.35	- 238.91	- 232.67
Total depreciation	-57.82	-67.36	-76.89	-55.89	-36.56
EBIT	29.37	81.83	140.69	-16.35	64.42
Other financial income	6.12	0.69	0.93	2.71	3.63
Other financial expenses	-14.27	-11.14	-10.11	-26.71	-25.95
Reduction non-current investment assets		-3.87	-2.69	-4.36	-0.54
Net income from associates (fin.)	93.64	127.63	63.82	93.98	57.23
Pre-tax profit	114.86	195.13	192.63	49.28	98.79
Income taxes	-7.54	-21.07	-30.47	10.43	-10.69
Net earnings	107.32	174.06	162.16	59.71	88.10

	2020	2021	2022	2023	2024
Intangible rights	0.27				4.49
Intangible assets total	0.27				4.49
Land and waters	39.21	36.48	32.45	29.44	25.89
Buildings	11.52	10.55	9.22	7.23	5.24
Machinery and equipment	629.45	817.78	756.89	705.00	706.49
Advance payments and construction in progress	17.08
Tangible assets total	697.25	864.80	798.55	741.67	737.62
Holdings in group member companies	794.05	214.44	260.65	298.41	360.44
Participating interests	226.65	887.45	891.94	636.32	615.76
Investments total	1 020.69	1 101.89	1 152.59	934.73	976.20
Non-curr. owed by particip. interest comp.				75.00
Non-current loans receivable	0.81	0.82	0.81	0.84	0.92
Non-current other receivables	19.95	21.59	31.11	103.00	92.78
Long term receivables total	20.76	22.41	31.92	178.84	93.70
Raw materials and consumables	10.10	14.86	22.95	21.86	15.05
Finished products/goods	8.99	38.68	23.48	52.61	28.88
Inventories total	19.09	53.54	46.43	74.47	43.93
Current trade debtors	4.54	0.31	0.30	0.46	46.73
Current amounts owed by group member comp.	3.04	2.40	1.71	0.77	0.46
Current owed by particip. interest comp.	36.04	57.69	83.38	124.50	234.00
Prepayments and accrued income	0.53	1.78	1.67	12.07	1.47
Current other receivables	21.73	4.95	3.64	19.94	9.33
Current deferred tax assets					5.00
Short term receivables total	65.88	67.13	90.69	157.74	296.99
Cash and bank deposits	8.87	6.94	7.17	3.69	6.85
Cash and cash equivalents	8.87	6.94	7.17	3.69	6.85
Balance sheet total (assets)	1 832.82	2 116.71	2 127.34	2 091.13	2 159.77

	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	886.16	967.36	1 018.06	796.46	841.56
Retained earnings	281.30	312.85	444.57	493.11	490.75
Profit of the financial year	107.32	174.06	162.16	59.71	88.10
Shareholders equity total	1 325.78	1 455.27	1 637.80	1 367.08	1 439.41
Provisions	74.77	88.89	86.20	71.19	76.49
Non-current loans from credit institutions				315.83	267.05
Non-current deferred tax liabilities	1.23	1.23	1.23	1.23
Non-current liabilities total	1.23	1.23	1.23	317.06	267.05
Current loans from credit institutions		0.01	0.00	50.28	52.69
Current trade creditors	15.30	20.22	17.93	17.30	27.17
Current owed to participating	0.03	220.01	36.07	5.37	0.09
Current owed to group member	301.06	177.83	182.77	137.38	179.57
Short-term deferred tax liabilities	3.60	5.48	39.32	2.91
Other non-interest bearing current liabilities	111.05	147.77	126.03	122.57	117.29
Current liabilities total	431.05	571.32	402.12	335.80	376.81
Balance sheet total (liabilities)	1 832.82	2 116.71	2 127.34	2 091.13	2 159.77

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