SONDEX HOLDING A/S — Credit Rating and Financial Key Figures

CVR number: 20311495

Marsvej 5, 6000 Kolding

ivj@sondex.dk

tel: 76306100

www.sondex.dk

Income statement (mDKK)

	2012	2013	2014	2015
Fiscal period length	12	12	12	12
Net sales	863.85	791.77	965.98	960.69
Change in finished goods inventory	0.20	45.09	18.47	13.29
Other operating income	8.40	12.00	7.82	12.46
Purchases during the financial year	- 470.97	- 460.22	- 545.33	- 520.00
External services	-84.38	-73.80	-85.53	-80.82
Gross profit	317.10	314.84	361.41	385.61
Employee benefit expenses	- 185.16	- 190.87	- 217.50	- 230.05
Total depreciation	-22.31	-25.60	-29.59	-27.34
EBIT	109.63	98.37	114.32	128.22
Other financial income	10.74	13.46	6.78	12.98
Other financial expenses	-13.73	-11.72	-13.58	-8.89
Pre-tax profit	100.32	93.94	101.89	132.31
Income taxes	-29.16	-28.57	-29.75	-31.54
Net earnings	71.17	65.36	72.14	100.77

	2012	2013	2014	2015
Development expenditure	0.85	0.18	0.13	0.10
Intangible rights	0.64	0.64	0.48	0.55
Intangible assets total	1.49	0.82	0.60	0.65
Land and waters	139.47	163.89	177.13	207.30
Buildings	70.24	70.87	75.96	87.92
Advance payments and construction in progress	19.92	3.91	8.96	7.97
Tangible assets total	229.63	238.67	262.06	303.20
Investments total	3.21	3.00	3.24	3.63
Non-current other receivables	20.64	2.21	3.92	3.94
Long term receivables total	20.64	2.21	3.92	3.94
Semifinished products	6.86	38.05	34.39	44.71
Raw materials and consumables	244.03	186.01	191.76	200.60
Finished products/goods	33.53	47.44	69.56	72.53
Inventories total	284.42	271.49	295.71	317.84
Current trade debtors	147.08	153.50	196.54	213.74
Current amounts owed by group member comp.				14.49
Prepayments and accrued income	7.58	15.63	6.07	4.85
Current other receivables	17.60	5.11	14.94	14.23
Current deferred tax assets	8.18	5.48	9.86	6.17
Short term receivables total	180.43	179.72	227.41	253.47
Other current investments	5.17	5.51	0.62	0.00
Cash and bank deposits	87.66	139.94	123.31	111.41
Cash and cash equivalents	92.83	145.45	123.94	111.41
Balance sheet total (assets)	812.65	841.36	916.88	994.14

	2012	2013	2014	2015
Share capital	15.00	15.00	15.00	15.00
Shares repurchased				40.00
Other reserves	-29.37	-27.98	-31.16
Retained earnings	477.94	498.93	535.36	580.63
Profit of the financial year	71.17	65.36	72.14	100.77
Minority interest (BS)	29.37	27.98	31.16	32.12
Shareholders equity total	564.10	579.30	622.49	768.51
Provisions	14.98	14.45	22.40	22.56
Non-current loans from credit institutions	39.99	43.25	39.60	34.10
Non-current leasing loans	0.77	0.69	0.35	0.29
Non-current liabilities total	40.75	43.94	39.95	34.39
Current loans from credit institutions	51.66	34.92	61.57	38.15
Current trade creditors	47.04	36.96	49.67	57.34
Short-term deferred tax liabilities	5.98	5.76		17.93
Other non-interest bearing current liabilities	57.71	96.39	88.78	54.06
Accruals and deferred income	1.07	1.65	0.84	1.20
Current liabilities total	163.46	175.69	200.86	168.68
Balance sheet total (liabilities)	783.29	813.38	885.71	994.14

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