MICHAEL HONORÉ HOLDING ApS — Credit Rating and Financial Key Figures

CVR number: 29209715

Grydhøjparken 12, True 8381 Tilst

Income statement (mDKK)

	2017	2018	2019	2020	2021
Fiscal period length	12	12	12	12	12
Net sales	794.83	794.66	861.22	938.19	1 031.46
Other operating income		0.51			2.80
Purchases during the financial year	- 669.19	- 668.94	- 724.68	- 786.96	- 871.65
External services	-24.75	-25.80	-25.91	-33.06	-41.21
Gross profit	100.89	100.42	110.64	118.17	121.40
Employee benefit expenses	-79.36	-81.84	-81.29	-92.95	-96.48
Other operating expenses	-0.04
Total depreciation	-9.59	-10.67	-11.31	-9.27	-8.57
EBIT	11.90	7.91	18.04	15.95	16.36
Other financial income	0.41	0.33	0.28	2.41	2.60
Other financial expenses	-2.01	-1.97	-2.55	-2.88	-6.47
Net income from associates (fin.)	-0.01	-1.31	-0.34	-0.52	-3.08
Pre-tax profit	10.29	4.95	15.42	14.96	9.40
Income taxes	-2.48	-1.82	-3.78	-4.24	-2.09
Net earnings	7.81	3.13	11.64	10.73	7.31

	2017	2018	2019	2020	2021
Development expenditure	4.96	4.00	3.05	2.10	1.44
Intangible rights	0.51	0.59	0.49	1.38	1.08
Goodwill	8.76	7.76	6.75	5.75	4.98
Intangible assets total	14.23	12.35	10.29	9.22	7.50
Land and waters	53.15	53.15	61.33	61.33
Buildings	0.53	1.15	0.94	0.75	0.45
Machinery and equipment	12.96	17.96	15.88	15.42	14.70
Advance payments and construction in progress		2.73
Tangible assets total	66.64	74.98	78.15	77.51	15.15
Participating interests	8.03	6.72	6.38	5.86	1.53
Investments total	8.03	6.72	6.38	5.86	1.57
Non-curr. owed by group member comp.	1.72
Non-curr. owed by particip. interest comp.		1.72	1.72
Non-current loans receivable					1.60
Non-current other receivables	1.27	1.82	1.69	1.61	1.83
Long term receivables total	2.99	3.54	3.41	1.61	3.43
Finished products/goods	4.09	5.19	6.46	8.12	7.23
Inventories total	4.09	5.19	6.46	8.12	7.23
Current trade debtors	58.52	57.74	65.31	60.26	75.02
Current owed by particip. interest comp.	9.57	0.33	6.47	4.13	9.28
Prepayments and accrued income	0.94	1.15	1.18	0.69	0.48
Current other receivables	3.03	2.34	4.50	8.63	17.06
Short term receivables total	72.06	61.56	77.46	73.70	101.83
Other current investments				31.83	19.97
Current other shares and ownership				1.60
Cash and bank deposits	6.09	2.08	11.08	48.03	29.47
Cash and cash equivalents	6.09	2.08	11.08	81.47	49.44
Balance sheet total (assets)	174.13	166.42	193.23	257.49	186.16

	2017	2018	2019	2020	2021
Share capital	0.13	0.13	0.13	0.13	0.13
Shares repurchased		4.40	8.00	15.00	0.34
Retained earnings	-1.26	4.24	1.95	20.15	26.52
Profit of the financial year	7.81	3.13	11.64	10.73	7.31
Minority interest (BS)	1.18	0.82	0.48	1.99	5.67
Shareholders equity total	7.86	12.71	22.20	48.00	39.96
Provisions	6.84	7.24	7.50	7.97	0.43
Non-current loans from credit institutions	16.04	15.07	14.11	28.00	19.00
Non-current leasing loans	4.66	9.32	7.53	7.03	6.05
Non-current liabilities total	20.69	24.40	21.65	35.03	25.05
Current loans from credit institutions	32.51	29.55	12.85	39.56	7.33
Advances received			0.01	0.07
Current trade creditors	76.98	62.33	71.14	76.09	74.27
Current owed to participating	8.71	7.55	2.75	0.72	0.07
Short-term deferred tax liabilities	2.91	1.62	3.63	3.37	1.45
Other non-interest bearing current liabilities	17.63	21.03	51.48	46.68	37.59
Accruals and deferred income			0.02	0.00
Current liabilities total	138.74	122.08	141.88	166.49	120.71
Balance sheet total (liabilities)	174.13	166.42	193.23	257.49	186.16

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