MICHAEL GERTSEN FINANS ApS — Credit Rating and Financial Key Figures

CVR number: 20867280

Søndergade 1, 8881 Thorsø

michaelgertsen@gmail.com

tel: 86967878

Income statement (kDKK)

	2020	2021	2022	2023	2024
Fiscal period length	12	12	12	12	12
Net sales
Gross profit	787.40	511.48	424.29	1 083.27	482.21
Employee benefit expenses		-54.35	- 130.44	- 130.44	- 130.44
Other operating expenses	-18.50		-92.48
Total depreciation	- 293.12	- 277.30	- 278.24	- 191.30	- 197.75
EBIT	225.78	164.43	-76.87	761.52	154.02
Other financial income	195.48	180.55	186.08	309.75	223.04
Other financial expenses	- 103.22	-83.83	-43.32	-60.50	-55.46
Reduction non-current investment assets			-28.60	-4.90	-4.55
Net income from associates (fin.)	2 607.47	593.26	373.74	213.07	405.34
Pre-tax profit	2 925.52	854.42	411.02	1 218.94	722.38
Income taxes	- 110.37	-65.98	- 230.88	-55.91	-72.07
Net earnings	2 815.14	788.44	180.15	1 163.03	650.31

	2020	2021	2022	2023	2024
Intangible assets total
Land and waters	10 105.72	9 728.42	11 546.10	8 118.44	11 791.41
Tangible assets total	10 105.72	9 728.42	11 546.10	8 118.44	11 791.41
Holdings in group member companies		75.88	136.54	206.48	292.65
Participating interests	1 171.67	1 257.79	1 307.13	1 025.26	2 047.55
Investments total	1 171.67	1 333.67	1 443.67	1 231.74	2 340.20
Non-current other receivables	2 738.66	2 277.04	1 342.27	799.26	1 494.12
Long term receivables total	2 738.66	2 277.04	1 342.27	799.26	1 494.12
Inventories total
Current trade debtors	5.03	12.37	26.97	13.57	11.51
Current amounts owed by group member comp.	2 188.55	2 930.22	3 412.31	3 576.61	3 267.84
Current owed by particip. interest comp.	89.69	74.30	45.70	40.79	36.24
Prepayments and accrued income	27.02	14.98	10.11	1.82	13.68
Current other receivables	9.74	28.20	147.90	122.85	19.85
Current deferred tax assets	633.17	729.29	652.89	570.08	663.65
Short term receivables total	2 953.20	3 789.35	4 295.88	4 325.73	4 012.77
Other current investments	83.38	74.56	89.26	1 219.58
Cash and bank deposits	139.58	29.47		2 098.13
Cash and cash equivalents	222.96	104.04	89.26	3 317.71
Balance sheet total (assets)	17 192.20	17 232.52	18 717.18	17 792.88	19 638.50

	2020	2021	2022	2023	2024
Share capital	140.00	140.00	140.00	140.00	140.00
Shares repurchased	200.00	200.00	200.00	600.00	300.00
Other reserves	819.30	941.31	1 051.30	839.38	1 244.72
Retained earnings	10 397.54	12 890.68	13 369.13	13 161.20	13 618.90
Profit of the financial year	2 815.14	788.44	180.15	1 163.03	650.31
Shareholders equity total	14 371.99	14 960.43	14 940.58	15 903.61	15 953.92
Non-current loans from credit institutions	1 870.29	1 721.30	1 570.35	1 417.41	2 134.67
Non-current deferred tax liabilities	128.47	54.83	20.54
Non-current liabilities total	1 998.77	1 776.13	1 590.88	1 417.41	2 134.67
Current loans from credit institutions	147.07	148.99	1 261.15	152.94	634.38
Current trade creditors	30.16	25.00	670.83	25.92	499.98
Current owed to participating	8.74	67.34	67.34	67.34	67.34
Short-term deferred tax liabilities	457.77	18.77			109.05
Other non-interest bearing current liabilities	177.69	235.86	186.39	225.65	239.15
Current liabilities total	821.44	495.96	2 185.72	471.85	1 549.91
Balance sheet total (liabilities)	17 192.20	17 232.52	18 717.18	17 792.88	19 638.50

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