WORK WEAR GROUP A/S — Credit Rating and Financial Key Figures

CVR number: 33044747

Kirstinehøj 5, 2770 Kastrup

Income statement (mDKK)

	2014	2015	2016	2017	2018
Fiscal period length	12	12	12	12	12
Net sales	73.81	99.05	134.05	148.50	163.69
Other operating income	0.04
Purchases during the financial year		-67.36	-95.31	- 107.20	- 120.20
Costs of manufacturing	-51.46
External services		-9.11	-12.58	-15.01	-13.07
Gross profit	22.35	22.57	26.15	26.29	30.42
Employee benefit expenses	-13.84	-18.76	-20.80	-21.25	-22.76
Other operating expenses	-6.97
Total depreciation	-1.60	-2.13	-2.29	-2.92	-2.32
EBIT	-0.11	1.68	3.07	2.13	5.34
Other financial income	0.05	0.06	0.02	0.10	0.13
Other financial expenses	-0.97	-1.07	-1.50	-1.66	-1.57
Net income from associates (fin.)	0.03		0.96
Pre-tax profit	-0.99	0.96	2.55	0.57	3.91
Income taxes	0.04	-0.37	-0.04	0.16	-1.07
Net earnings	-0.95	0.59	2.51	0.73	2.83

	2014	2015	2016	2017	2018
Development expenditure	2.35	11.75	10.89	10.03	9.18
Intangible rights		1.48	1.50	1.43	1.84
Goodwill	9.98		0.47	0.45	0.42
Intangible assets total	12.34	13.23	12.86	11.91	11.44
Land and waters			13.29
Buildings	0.70	0.71	1.08	1.37	1.18
Machinery and equipment	0.43	0.29	2.44	2.05	1.57
Tangible assets total	1.13	1.00	16.82	3.42	2.75
Participating interests	4.09	4.34
Other non-current investments	2.17
Investments total	6.96	5.08	1.00	1.00	1.00
Long term receivables total
Semifinished products				0.96	5.08
Finished products/goods	24.85	27.33	43.40	50.67	48.74
Advance payments		0.29	0.39	0.04	0.04
Inventories total	24.85	27.62	43.79	51.67	53.86
Current trade debtors	25.10	24.33	47.16	28.26	33.11
Current amounts owed by group member comp.				0.27	0.95
Prepayments and accrued income	0.90	0.01	0.72	0.46	0.45
Current other receivables	0.56	1.34	5.17	0.16	2.04
Current deferred tax assets	2.25	2.54		0.45
Short term receivables total	28.80	28.22	53.05	29.60	36.55
Cash and bank deposits	0.33	0.56	0.40	0.14	0.22
Cash and cash equivalents	0.33	0.56	0.40	0.14	0.22
Balance sheet total (assets)	74.40	75.72	127.92	97.75	105.83

	2014	2015	2016	2017	2018
Share capital	5.00	5.00	5.00	5.00	5.00
Share premium account	24.50	24.50
Asset revaluation reserve			4.96
Retained earnings	-6.70	-7.65	17.52	22.58	23.31
Profit of the financial year	-0.95	0.59	2.51	0.73	2.83
Shareholders equity total	23.05	22.44	29.98	28.31	31.15
Provisions			0.09		0.09
Non-current loans from credit institutions			18.17	8.40	7.40
Non-current leasing loans				0.58
Non-current other liabilities	1.20		1.16
Non-current liabilities total	1.20		19.33	8.98	7.40
Current loans from credit institutions	23.35	23.79	28.01	26.12	29.73
Current trade creditors	23.04	22.15	40.31	28.74	30.21
Current owed to group member	0.10	0.16	0.23		0.73
Short-term deferred tax liabilities		0.67	0.15
Other non-interest bearing current liabilities	4.85	6.52	9.82	5.59	6.52
Current liabilities total	51.35	53.28	78.51	60.45	67.19
Balance sheet total (liabilities)	75.60	75.72	127.92	97.75	105.83

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