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

CVR number: 11369677

Baldrianvej 2, 9310 Vodskov

lr@polarseafood.dk

tel: 98294422

Income statement (mDKK)

	2020	2021	2022	2023	2024
Fiscal period length	12	12	12	12	12
Net sales	3 011.75	3 792.04	3 899.94	3 851.42	4 216.35
Other operating income	5.33	8.40	9.25	9.80	10.95
Costs of manufacturing	-2 532.79	-3 226.93	-3 438.57	-3 421.68	-3 767.14
External services	-67.17	-78.68	-70.85	-70.41	-64.37
Gross profit	417.12	494.82	399.77	369.14	395.80
Employee benefit expenses	- 192.50	- 195.62	- 156.49	- 165.76	- 180.76
Other operating expenses				-3.27
Total depreciation	-22.56	-25.10	-15.58	-16.35	-17.84
EBIT	202.05	274.11	227.70	183.76	197.20
Other financial income	8.46	30.88	8.38	11.48	17.90
Other financial expenses	-25.11	-3.11	-14.34	-13.14	-16.23
Reduction non-current investment assets	-41.64	-2.83	-27.37	-61.91	-49.93
Net income from associates (fin.)	5.98	0.21	10.26	3.08	3.20
Pre-tax profit	149.74	299.25	90.57	123.27	152.13
Income taxes	-31.79	-69.72	-53.24	-41.51	-19.57
Profit/loss from discontinued operations			57.03	0.04
Net earnings	117.95	229.54	94.36	81.81	132.56

	2020	2021	2022	2023	2024
Goodwill	0.25	0.17			0.02
Intangible assets total	0.25	0.17			0.02
Land and waters	71.05	66.30	46.20	52.40	49.25
Buildings	37.57	34.26	21.45	29.36	24.92
Machinery and equipment	11.77	12.48	14.09	16.06	13.88
Advance payments and construction in progress	3.83	19.44	7.71
Tangible assets total	124.21	132.47	89.44	97.81	88.05
Participating interests	80.86	80.66	90.45	92.50	104.81
Investments total	80.86	80.66	90.45	92.50	104.81
Non-curr. owed by particip. interest comp.	118.31	126.84	111.68	83.05	82.66
Non-current loans receivable	0.04	0.04	0.04	0.04	0.04
Non-current other receivables	5.29	2.90	137.79	138.10	88.51
Long term receivables total	123.64	129.78	249.51	221.19	171.21
Raw materials and consumables	11.05	10.66	19.09	11.43	612.69
Finished products/goods	516.64	521.42	520.93	581.75	12.30
Inventories total	527.69	532.08	540.02	593.18	624.99
Current trade debtors	405.12	471.55	505.54	513.70	585.35
Current amounts owed by group member comp.	258.30
Current owed by particip. interest comp.	0.01	0.09		0.21	3.96
Prepayments and accrued income	14.20	39.78	3.75	3.47	10.13
Current other receivables	60.87	226.91	106.67	23.09	13.88
Current deferred tax assets	25.35	1.54	0.09	9.50	25.14
Short term receivables total	763.85	739.88	616.05	549.97	638.45
Cash and bank deposits	177.32	133.23	345.11	63.58	146.36
Cash and cash equivalents	177.32	133.23	345.11	63.58	146.36
Balance sheet total (assets)	1 797.83	1 748.28	1 930.57	1 618.22	1 773.88

	2020	2021	2022	2023	2024
Share capital	2.04	2.04	2.04	2.04	2.04
Shares repurchased	100.00			37.50	60.50
Other reserves	9.99	20.50	69.37	69.17	69.10
Retained earnings	966.89	1 065.25	1 273.49	696.23	703.37
Profit of the financial year	117.95	229.54	94.36	81.81	132.56
Minority interest (BS)	71.42	81.60	33.97	34.63	39.17
Shareholders equity total	1 268.29	1 398.93	1 473.24	921.37	1 006.73
Provisions	14.00	18.53	21.60	21.30	26.72
Non-current loans from credit institutions	16.28	5.75	4.83	3.92
Non-current deferred tax liabilities				250.00
Non-current liabilities total	16.28	5.75	4.83	253.92
Current loans from credit institutions	103.39	84.68	127.06	83.41	116.92
Current trade creditors	153.46	177.59	208.03	214.32	313.65
Current owed to participating	0.24	18.16	59.78	94.20	281.83
Current owed to group member	189.25
Short-term deferred tax liabilities	3.83	3.54	15.36	2.70	0.42
Other non-interest bearing current liabilities	49.09	41.10	20.67	26.99	27.62
Current liabilities total	499.25	325.06	430.90	421.63	740.43
Balance sheet total (liabilities)	1 797.83	1 748.28	1 930.57	1 618.22	1 773.88

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