TSCHERNING HOLDING A/S — Credit Rating and Financial Key Figures

CVR number: 84300519

Guldalderen 32, Fløng 2640 Hedehusene

tel: 70207050

Income statement (mDKK)

	2020	2021	2022	2023	2024
Fiscal period length	12	12	12	12	12
Net sales	518.91	666.09	841.87	821.60	1 046.98
Other operating income				4.03	2.59
Purchases during the financial year	- 316.65	- 424.95	- 530.55	- 489.73	- 635.84
External services	-27.94	-36.20	-47.77	-61.77	-72.67
Gross profit	174.33	204.94	263.55	274.14	341.07
Employee benefit expenses	- 140.70	- 167.91	- 211.09	- 216.38	- 264.86
Other operating expenses					-0.42
Total depreciation	-18.22	-15.13	-16.05	-19.83	-25.46
EBIT	15.41	21.89	36.41	37.93	50.32
Other financial income	0.11	0.25	0.21	1.41	0.75
Other financial expenses	-0.73	-1.37	-1.19	-1.35	-2.79
Reduction non-current investment assets			-1.00		-3.49
Income from other inv. held as non-curr. assets	0.05	0.34	0.83
Exchange rate differences	3.94
Net income from associates (fin.)	2.23	1.61	3.16	5.19	1.41
Pre-tax profit	21.00	22.72	38.43	43.17	46.20
Income taxes	-4.15	-5.43	-8.12	-8.77	-11.14
Net earnings	16.85	17.29	30.31	34.41	35.06

	2020	2021	2022	2023	2024
Intangible rights	0.89	0.51	0.97	1.55	3.27
Goodwill					4.44
Intangible assets total	0.89	0.51	0.97	1.55	7.71
Land and waters	25.51	25.12	34.49	61.00	68.46
Buildings	6.84			0.38	1.27
Machinery and equipment	33.86	42.18	49.93	63.68	63.09
Tangible assets total	66.22	67.30	84.42	125.06	132.82
Participating interests	11.78	12.89	13.61	18.80	20.86
Investments total	11.80	12.95	13.65	18.85	20.95
Non-curr. owed by particip. interest comp.	0.75	0.55	0.35	0.15
Non-current loans receivable	1.98	6.72	3.05	3.03	21.02
Non-current other receivables			7.23	9.43	11.69
Long term receivables total	2.73	7.27	10.63	12.61	32.71
Raw materials and consumables	5.57	3.84	3.33	4.99	8.00
Inventories total	5.57	3.84	3.33	4.99	8.00
Current trade debtors	120.18	149.44	174.90	171.10	199.60
Current amounts owed by group member comp.	0.95	0.51	0.62	0.63
Current owed by particip. interest comp.			1.00
Prepayments and accrued income	2.70	4.95	5.19	7.33	13.20
Current other receivables	11.73	37.94	31.20	34.21	53.31
Current deferred tax assets	4.85	3.42	1.16	4.96	3.95
Short term receivables total	140.40	196.26	214.07	218.23	270.06
Cash and bank deposits	20.94	22.17	32.00	37.55	17.34
Cash and cash equivalents	20.94	22.17	32.00	37.55	17.34
Balance sheet total (assets)	248.55	310.31	359.07	418.84	489.59

	2020	2021	2022	2023	2024
Share capital	0.55	0.55	0.55	0.55	0.55
Asset revaluation reserve	0.86	0.28
Shares repurchased	3.00	5.00	5.00	12.00
Other reserves	5.25	5.86	8.01	13.21	14.62
Retained earnings	37.27	47.88	53.76	58.33	87.64
Profit of the financial year	16.85	17.29	30.31	34.41	35.06
Minority interest (BS)	1.27	1.97	5.41	7.95	9.43
Shareholders equity total	65.06	78.83	103.03	126.44	147.30
Provisions	16.28	21.18	28.86	29.86	25.82
Non-current loans from credit institutions	3.42	2.22	2.03	1.83	11.45
Non-current leasing loans	15.65	19.45	21.56	25.49	24.72
Non-current deferred tax liabilities	14.07	1.89	7.75	17.75	8.30
Non-current liabilities total	33.14	23.56	31.34	45.08	44.48
Current loans from credit institutions	7.01	9.50	11.69	14.62	14.45
Advances received					7.40
Current trade creditors	73.96	86.18	83.87	83.11	107.83
Current owed to group member					8.64
Short-term deferred tax liabilities	4.24	1.11		7.75	20.32
Other non-interest bearing current liabilities	29.01	28.49	38.45	37.94	47.07
Accruals and deferred income	19.86	61.47	61.82	74.05	66.28
Current liabilities total	134.07	186.74	195.84	217.46	272.00
Balance sheet total (liabilities)	248.55	310.31	359.07	418.84	489.59

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