J. DUCKERT HOLDING A/S — Credit Rating and Financial Key Figures

CVR number: 24211479

Havevej 1, 2970 Hørsholm

msd@peoplegroup.dk

Income statement (mDKK)

	2013	2014	2015
Fiscal period length	12	12	12
Net sales	120.55	99.13	91.13
Other operating income	0.29	0.35	0.20
Costs of manufacturing	-34.08	-29.96	-28.16
External services	-24.64	-19.56	-15.01
Gross profit	62.13	49.95	48.16
Employee benefit expenses	-63.56	-49.87	-44.08
Other operating expenses	-1.74	-0.15	-0.16
Total depreciation	-1.78	-2.66	-1.95
EBIT	-4.94	-2.73	1.97
Other financial income	25.88	17.76	49.31
Other financial expenses	-4.29	-3.47	-5.18
Net income from associates (fin.)	5.70	9.37	8.93
Pre-tax profit	17.30	15.77	55.03
Income taxes	-2.91	-2.84	-8.19
Net earnings	14.38	12.93	46.84

	2013	2014	2015
Intangible rights	0.22	0.07	0.03
Goodwill	6.28	4.99	6.20
Intangible assets total	6.50	5.05	6.23
Land and waters	12.18	11.80	11.27
Buildings	0.62	0.28	0.14
Machinery and equipment	1.71	0.60	3.89
Other tangible assets	1.48	0.86
Tangible assets total	15.99	13.54	15.30
Participating interests	54.52	39.20	34.41
Investments total	55.35	39.75	35.08
Non-curr. owed by particip. interest comp.	0.63	1.19	0.33
Non-current loans receivable	8.71	15.94	20.26
Non-current other receivables	0.24	0.69	0.41
Deferred tax assets	1.79	1.10
Long term receivables total	11.37	18.92	21.01
Inventories total
Current trade debtors	14.59	17.48	6.82
Current owed by particip. interest comp.	5.44	1.89	2.80
Prepayments and accrued income	0.93	1.17	0.95
Current other receivables	18.31	7.50	5.86
Short term receivables total	39.26	28.03	16.43
Other current investments	64.68	77.94	102.80
Current other shares and ownership		3.98
Cash and bank deposits	11.56	16.18	33.17
Cash and cash equivalents	76.24	98.09	135.97
Balance sheet total (assets)	204.70	203.38	230.03

	2013	2014	2015
Share capital	0.50	0.50	0.50
Shares repurchased	0.05	0.05	0.05
Other reserves	-22.73	-21.73	4.06
Retained earnings	99.07	113.45	110.09
Profit of the financial year	14.38	12.93	46.84
Minority interest (BS)	22.73	21.73	9.69
Shareholders equity total	114.00	126.93	171.23
Provisions	7.62	6.41	0.27
Non-current bonds	0.73
Non-current liabilities total	0.73
Current loans from credit institutions			24.96
Advances received	2.52	6.18	1.59
Current trade creditors	4.75	2.82	2.07
Current owed to participating	0.08	0.16	0.14
Current owed to group member	1.00
Short-term deferred tax liabilities	1.15	0.38	4.86
Other non-interest bearing current liabilities	50.12	38.75	24.91
Current liabilities total	59.62	48.31	58.53
Balance sheet total (liabilities)	181.97	181.64	230.03

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