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	2 256.87	2 706.67	3 207.30	3 092.20	3 200.39
Other operating income	6.73	6.06	10.42	12.66	12.70
Costs of manufacturing	-1 993.55	-2 379.84	-2 879.68	-2 790.97	-2 886.62
External services	-29.96	-35.04	-42.15	-36.48	-35.55
Gross profit	240.08	297.85	295.89	277.41	290.93
Employee benefit expenses	- 104.08	- 103.42	-98.11	- 107.50	- 115.79
Other operating expenses				-0.07
Total depreciation	-11.56	-11.61	-10.79	-11.69	-13.47
EBIT	124.45	182.82	186.99	158.16	161.66
Other financial income	7.20	20.50	8.07	11.01	14.46
Other financial expenses	-5.21	-1.67	-5.45	-7.92	-10.81
Reduction non-current investment assets	-41.64	-2.83	-27.37	-61.91	-49.93
Net income from associates (fin.)	37.28	60.27	-33.70	11.65	17.77
Pre-tax profit	122.09	259.09	128.53	110.99	133.16
Income taxes	-18.49	-49.48	-46.00	-36.27	-11.99
Net earnings	103.59	209.61	82.53	74.72	121.17

	2020	2021	2022	2023	2024
Intangible assets total
Land and waters	43.87	40.27	38.23	45.10	42.63
Buildings	8.35	4.85	13.74	23.80	21.03
Machinery and equipment	8.41	7.88	8.88	12.14	9.18
Advance payments and construction in progress		7.43	7.70
Tangible assets total	60.62	60.43	68.56	81.04	72.84
Holdings in group member companies	206.76	244.62	93.55	93.23	95.65
Participating interests	80.86	80.66	90.45	92.50	98.09
Investments total	287.62	325.28	184.00	185.72	193.74
Non-curr. owed by group member comp.	2.66	2.62	2.77
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	126.30	132.40	252.28	221.19	171.21
Raw materials and consumables	7.04	6.40	14.36	7.13	570.91
Finished products/goods	398.82	356.00	478.73	546.65	7.94
Inventories total	405.86	362.41	493.09	553.78	578.85
Current trade debtors	249.02	269.00	358.83	362.05	352.39
Current amounts owed by group member comp.	358.77	125.62	72.71	75.21	99.88
Current owed by particip. interest comp.	0.01	0.09
Prepayments and accrued income	1.15	1.40	1.37	1.29	2.72
Current other receivables	48.12	223.00	104.31	8.26	9.49
Current deferred tax assets	24.35	2.27		8.72	24.14
Short term receivables total	681.41	621.37	537.22	455.54	488.63
Cash and bank deposits	155.23	125.22	339.94	53.12	131.42
Cash and cash equivalents	155.23	125.22	339.94	53.12	131.42
Balance sheet total (assets)	1 717.05	1 627.10	1 875.08	1 550.39	1 636.70

	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	172.91	210.15	80.22	79.39	86.66
Retained earnings	818.32	895.53	1 274.47	693.10	697.19
Profit of the financial year	103.59	209.61	82.53	74.72	121.17
Shareholders equity total	1 196.87	1 317.33	1 439.26	886.74	967.56
Provisions	11.63	16.16	21.18	22.27	25.97
Non-current loans from credit institutions	15.75	5.75	4.83	3.92
Non-current deferred tax liabilities				250.00
Non-current liabilities total	15.75	5.75	4.83	253.92
Current loans from credit institutions	102.85	84.67	127.06	83.36	116.77
Current trade creditors	106.75	112.48	164.49	148.07	201.59
Current owed to participating	0.24	18.16	59.78	94.20	281.57
Current owed to group member	256.33	55.75	38.86	49.49	30.91
Short-term deferred tax liabilities			12.02
Other non-interest bearing current liabilities	26.63	16.79	7.60	12.34	12.32
Current liabilities total	492.80	287.85	409.81	387.46	643.16
Balance sheet total (liabilities)	1 717.05	1 627.10	1 875.08	1 550.39	1 636.70

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