2e ellgard equipment a/s stadionvej 3, 8840...

Tlf.: +45 39 15 52 00 BDO Statsautoriseret [email protected] Havneholmen 29www.bdo.dk 1561 København V

CVR no. 20 22 26 7020222670

2E ELLGARD EQUIPMENT A/S

STADIONVEJ 3, 8840 RØDKÆRSBRO

ÅRSRAPPORTANNUAL REPORT

Årsrapport

2015

Årsrapporten er fremlagt og godkendt påselskabets ordinære generalforsamling, den 15. marts 2016The Annual Report has been presented and adopted atthe Company's Annual General Meeting on

______________________________Frank Müntzberg

The English part of this document is an unofficial translation of the original Danish text, and in case of any discrepancybetween the Danish text and the English translation, the Danish text shall prevail.

CVR-NR. 17 23 28 78CVR NO. 17 23 28 78

1

INDHOLDSFORTEGNELSECONTENTS

SidePage

SelskabsoplysningerCompany details

Selskabsoplysninger................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Company details

2

ErklæringerStatement and Report

Ledelsespåtegning................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Statement by Board of Directors and Board of Executives

3

Den uafhængige revisors erklæringer................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Independent Auditor's Report

4-6

LedelsesberetningManagement's Review

Hoved- og nøgletal................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Key Figures and Ratios

7

Ledelsesberetning................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Management's Review

8

Årsregnskab 1. januar - 31. decemberFinancial Statements 1 January - 31 December

Anvendt regnskabspraksis................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Accounting Policies

9-17

Resultatopgørelse................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Income Statement

18

Balance................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Balance Sheet at

19-20

Pengestrømsopgørelse................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Cash Flow Statement

21

Noter................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Notes

22-25

BDO Statsautoriseret revisionsaktieselskab, en danskejet revisions- og rådgivningsvirksomhed, er medlem af BDO International Limited - et UK-baseret selskab med begrænsethæftelse - og en del af det internationale BDO netværk bestående af uafhængige medlemsfirmaer.BDO Statsautoriseret revisionsaktieselskab, a Danish limited liability company, is a member of BDO International Limited, a UK company limited by guarantee, and formspart of the international BDO network of independent member firms.

2

SELSKABSOPLYSNINGERCOMPANY DETAILS

SelskabetCompany

2E Ellgard Equipment A/SStadionvej 38840 Rødkærsbro

Revisionspåtegning

Hjemmeside: www.haas.comWebsite:

CVR-nr.: 17 23 28 78 17232878CVR no.:

Stiftet: 15. september 1993Established: 15 September 1993

Hjemsted: KøbenhavnRegistered Office:

Regnskabsår: 1. januar - 31. decemberFinancial Year: 1 January - 31 December

BestyrelseBoard of Directors

Stefan Jiraschek, formandChairman

Johannes Haas, næstformandVice-chairman

Josef HaasFrank MüntzbergRolf Brandhøj Overgaard

Direktion Frank MüntzbergBoard of Executives Rolf Brandhøj Overgaard

RevisionAuditor

BDO Statsautoriseret revisionsaktieselskabHavneholmen 291561 København V

PengeinstitutBank

Nordea Bank Danmark A/SVesterbrogade 81620 København V

AdvokatLaw Firm

Gorrissen FederspielH.C Andersens Boulevard 121553 København V

Oversættelses-forbeholdTranslation Disclaimer

Den engelske del af dette dokument er en uofficiel oversættelse af denoriginale danske tekst, og i tilfælde af uoverensstemmelse mellem den dansketekst og den engelske oversættelse, har den danske tekst forrang.The English part of this document is an unofficial translation of the original Danish text, and incase of any discrepancy between the Danish text and the English translation, the Danish textshall prevail.

3

LEDELSESPÅTEGNINGSTATEMENT BY BOARD OF DIRECTORS AND BOARD OF EXECUTIVES

Bestyrelsen og direktionen har dags datobehandlet og godkendt årsrapporten for 1. januar- 31. december 2015 for 2E Ellgard EquipmentA/S.

Today the Board of Directors and Board ofExecutives have discussed and approved theAnnual Report of 2E Ellgard Equipment A/S forthe year 1 January - 31 December 2015.

Årsrapporten aflægges i overensstemmelse medårsregnskabsloven.

The Annual Report is presented in accordancewith the Danish Financial Statements Act.

Det er vores opfattelse, at årsregnskabet giver etretvisende billede af selskabets aktiver, passiverog finansielle stilling pr. 31. december 2015 samtaf resultatet af selskabets aktiviteter og penge-strømme for regnskabsåret 1. januar - 31.december 2015.

In our opinion the financial statements give atrue and fair view of the company’s financialposition at 31 December 2015 and of the resultsof the company’s operations and cash flows forthe financial year 1 January - 31 December 2015.

Ledelsesberetningen indeholder efter voresopfattelse en retvisende redegørelse for deforhold, beretningen omhandler.

The Management's Review includes in our opiniona fair presentation of the matters dealt with inthe review.

Årsrapporten indstilles til generalforsamlingensgodkendelse.

We recommend that the Annual Report beapproved at the Annual General meetings.

Rødkærsbro, den 29. februar 2016Rødkærsbro, 29 February 2016

DirektionBoard of Executives

________________________ ________________________Frank Müntzberg Rolf Brandhøj Overgaard

BestyrelseBoard of Directors

________________________ ________________________ ________________________Stefan JiraschekFormandChairman

Johannes HaasNæstformandVice-chairman

Josef Haas

________________________ ________________________Frank Müntzberg Rolf Brandhøj Overgaard

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DEN UAFHÆNGIGE REVISORS ERKLÆRINGERINDEPENDENT AUDITOR'S REPORT

Til kapitalejeren i 2E Ellgard Equipment A/S To the Shareholder of 2E Ellgard EquipmentA/S

PÅTEGNING PÅ ÅRSREGNSKABET REPORT ON THE FINANCIAL STATEMENTS

Vi har revideret årsregnskabet for 2E EllgardEquipment A/S for regnskabsåret 1. januar - 31.december 2015, der omfatter anvendt regnskabs-praksis, resultatopgørelse, balance, pengestrøms-opgørelse og noter. Årsregnskabet udarbejdesefter årsregnskabsloven.

We have audited the financial statements of 2EEllgard Equipment A/S for the financial year 1January to 31 December 2015, which comprise asummary of significant accounting policies,income statement, balance sheet, cash flowstatement and notes. The financial statementsare prepared in accordance with the DanishFinancial Statements Act.

Ledelsens ansvar for årsregnskabet Management's Responsibility for the FinancialStatements

Ledelsen har ansvaret for udarbejdelsen af etårsregnskab, der giver et retvisende billede ioverensstemmelse med årsregnskabsloven.Ledelsen har endvidere ansvaret for den internekontrol, som ledelsen anser nødvendig for atudarbejde et årsregnskab uden væsentlig fejl-information, uanset om denne skyldes besvigelsereller fejl.

Management is responsible for the preparation offinancial statements that give a true and fairview in accordance with the Danish FinancialStatements Act and for such internal control asmanagement determines is necessary to enablethe preparation of financial statements freefrom material misstatement, whether due tofraud or error.

Revisors ansvar Auditor's ResponsibilityVores ansvar er at udtrykke en konklusion omårsregnskabet på grundlag af vores revision. Vihar udført revisionen i overensstemmelse medinternationale standarder om revision ogyderligere krav ifølge dansk revisorlovgivning.Dette kræver, at vi overholder etiske krav samtplanlægger og udfører revisionen for at opnå højgrad af sikkerhed for, om årsregnskabet er udenvæsentlig fejlinformation.

Our responsibility is to express an opinion on thefinancial statements based on our audit. We haveconducted our audit in accordance withInternational Standards on Auditing andadditional requirements under Danish AuditLegislation. This requires that we comply withethical requirements and plan and perform theaudit to obtain reasonable assurance aboutwhether the financial statements are free frommaterial misstatement.

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Revisors ansvar (fortsat) Auditor's Responsibility (continued)

En revision omfatter udførelse af revisionshand-linger for at opnå revisionsbevis for beløb ogoplysninger i årsregnskabet. De valgterevisionshandlinger afhænger af revisorsvurdering, herunder vurdering af risici forvæsentlig fejlinformation i årsregnskabet, uansetom denne skyldes besvigelser eller fejl. Vedrisikovurderingen overvejer revisor intern kontrol,der er relevant for virksomhedens udarbejdelse afet årsregnskab, der giver et retvisende billede.Formålet hermed er at udforme revisions-handlinger, der er passende efter omstændig-hederne, men ikke at udtrykke en konklusion omeffektiviteten af virksomhedens interne kontrol.En revision omfatter endvidere vurdering af, omledelsens valg af regnskabspraksis er passende,om ledelsens regnskabsmæssige skøn er rimeligesamt den samlede præsentation af årsregnskabet.

An audit involves performing procedures toobtain audit evidence about the amounts anddisclosures in the financial statements. Theprocedures selected depend on the auditor’sjudgement, including the assessment of the risksof material misstatements of the financialstatements, whether due to fraud or error. Inmaking those risk assessments, the auditorconsiders internal control relevant to theentity’s preparation of financial statements thatgive a true and fair view in order to design auditprocedures that are appropriate in thecircumstances, but not for the purpose ofexpressing an opinion on the effectiveness of theentity’s internal control. An audit also includesevaluating the appropriateness of accountingpolicies used and the reasonableness ofaccounting estimates made by management, aswell as the overall presentation of the financialstatements.

Det er vores opfattelse, at det opnåederevisionsbevis er tilstrækkeligt og egnet somgrundlag for vores konklusion.

We believe that the audit evidence we haveobtained is sufficient and appropriate to providea basis for our opinion.

Revisionen har ikke givet anledning til forbehold. The audit has not resulted in any qualification.

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Konklusion OpinionDet er vores opfattelse, at årsregnskabet giver etretvisende billede af selskabets aktiver, passiverog finansielle stilling pr. 31. december 2015 samtaf resultatet af selskabets aktiviteter og penge-strømme for regnskabsåret 1. januar - 31.december 2015 i overensstemmelse med årsregn-skabsloven.

In our opinion, the financial statements give atrue and fair view of the company's assets,liabilities and financial position at 31 December2015 and of the results of the company'soperations and cash flows for the financial year 1January - 31 December 2015 in accordance withthe Danish Financial Statements Act.

UDTALELSE OM LEDELSESBERETNINGEN STATEMENT ON THE MANAGEMENT’S REVIEW

Vi har i henhold til årsregnskabsloven gennemlæstledelsesberetningen. Vi har ikke foretaget yder-ligere handlinger i tillæg til den udførte revisionaf årsregnskabet. Det er på denne baggrund voresopfattelse, at oplysningerne i ledelsesberetningener i overensstemmelse med årsregnskabet.

Pursuant to the Danish Financial Statements Act,we have read the management’s review. We havenot performed any further procedures in additionto the audit of the financial statements. On thisbasis, it is our opinion that the informationprovided in the management’s review isconsistent with the financial statements.

København, den 29. februar 2016 29-02-2016Copenhagen, 29 February 2016

BDO Statsautoriseret revisionsaktieselskab, CVR-nr. 20 22 26 70 20222670

Ole C. K. NielsenStatsautoriseret revisorState Authorised Public Accountant

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HOVED- OG NØGLETALKEY FIGURES AND RATIOS

2015tkr.

2014tkr.

2013tkr.

2012tkr.

2011tkr.

DKK '000 DKK '000 DKK '000 DKK '000 DKK '000

ResultatopgørelseIncome statement

Bruttoresultat................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Gross profit

14.932 22.037 20.649 6.072 18.388

Driftsresultat................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Operating profit/loss

7.782 15.215 13.992 332 13.456

Finansielle poster, netto................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Financial income and expenses, net

-136 -68 -60 -227 -216

Årets resultat................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Profit/loss for the year

5.843 11.433 10.502 80 9.909

BalanceBalance sheet

Investeringer i materielle anlægsaktiver................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Investment in tangible fixed assets

115 2.438 1.580 2.330 1.288

Balancesum................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Balance sheet total

48.293 72.441 65.642 55.218 63.430

Egenkapital................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Equity

20.406 24.563 21.846 11.344 16.266

NøgletalRatios

Afkastningsgrad................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Rate of return

12,7 21,9 23,1 0,2 22,7

Soliditetsgrad................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Solvency ratio

42,3 33,9 33,3 20,5 25,6

Egenkapitalforrentning................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Return on equity

26,0 49,3 63,3 0,6 62,0

Gennemsnitligt antal medarbejdere................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Average number of employees

68 86 85 79 75

Nettoomsætning pr. medarbejder................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Net turnover per employee

2.345 2.313 2.214 2.106 2.180

Nøgletallene følger i al væsentlighed Den DanskeFinansanalytikerforenings anbefalinger. Derhenvises til definitioner og begreber underanvendt regnskabspraksis.

The key figures follow in all material respectsthe recommendations of the Danish Associationof Financial Analysts. Reference is made thedefinitions and concepts in the accountingpolicies.

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LEDELSESBERETNINGMANAGEMENT'S REVIEW

Væsentligste aktiviteter Principal activitiesSelskabets væsentligste aktiviteter er produktionaf maskiner og udstyr til bageri- og fødevare-industrien.

The company's principal activities comprisemanufacture of machinery and equipment for thebakery and food industry.

Udvikling i aktiviteter og økonomiske forhold Development in activities and financialposition

Selskabet har præsteret et tilfredsstillenderesultat på niveau med det forventede for året.

The company has achieved a satisfactory profit inline with the expectations for the year.

Betydningsfulde hændelser, indtruffet efterregnskabsårets afslutning

Significant events after the end of thefinancial year

Der er ikke efter regnskabsårets afslutningindtruffet begivenheder af væsentlig betydningfor selskabets finansielle stilling.

No events have occurred after the end of thefinancial year of material importance for thecompany's financial position.

Særlige risici Special risksSelskabets anvendelse af stål som en væsentligråvare medfører en særlig risiko, idet derforekommer væsentlige prissvingninger i råvare-priserne, som ikke kan indregnes i priserne på defærdige produkter. Dette søges til dels imødegåetved indgåelse af langvarige leveringsaftaler.

The Company's use of steel as a substantial rawmaterial causes a special risk as there aresignificant fluctuations in the raw material priceswhich cannot be included in the prices for thefinished products. This is to some extent met byentering into long-term delivery contracts.

Forsknings- og udviklingsaktiviteter Research and development activitiesUdviklingsaktiviteterne omfatter hovedsageligtovnanlæg. Selskabet har fastholdt et højt niveaufor udviklingsaktiviteterne.

The development activities mainly comprise kilnplants. The Company has maintained a high levelin its development activities.

Forventninger til fremtiden Future expectationsSelskabet fusioneres med deres moderselskabHaas-Meincke A/S pr. 1. januar 2016 med Haas-Meincke A/S som det fortsættende selskab. 2EEllgard Equipment A/S skifter derfor navn fra ogmed 1. januar 2016. Det tidligere 2E EllgardEquipment A/S beholder samme adresse, og vilarbejde videre som hidtil.

The company is merged with the parent companyHaas-Meincke A/S as at 1 January 2016 withHaas-Meincke A/S as the continuing company. 2EEllgard Equipment A/S will therefore change itsname as from 1 January 2016. The former 2EEllgard Equipment A/S will keep its address andcontinue its present activities.

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ANVENDT REGNSKABSPRAKSISACCOUNTING POLICIES

Årsrapporten for 2E Ellgard Equipment A/S for2015 er aflagt i overensstemmelse med dendanske årsregnskabslovs bestemmelser for virk-somheder i regnskabsklasse C, mellemstorvirksomhed.

The annual report of 2E Ellgard Equipment A/Sfor 2015 has been presented in accordance withthe provisions of the Danish Financial StatementsAct for enterprises in reporting class C, middlesize company.

Regnskabsklasse C, mellemstor virksomhed

Årsrapporten er udarbejdet efter samme regn-skabspraksis som sidste år.

The annual report is prepared consistently withthe accounting principles used last year.

Generelt om indregning og måling General about recognition and measurementI resultatopgørelsen indregnes indtægter i taktmed, at de indtjenes, herunder indregnes værdi-reguleringer af finansielle aktiver og forpligtelser.I resultatopgørelsen indregnes ligeledes alleomkostninger, herunder afskrivninger ognedskrivninger.

Income is recognised in the income statement asand when it is earned, including recognition ofvalue adjustments of financial assets andliabilities. Any costs, including depreciation,amortisation and writedown, are also recognisedin the income statement.

Aktiver indregnes i balancen, når det er sand-synligt, at fremtidige økonomiske fordele viltilflyde selskabet, og aktivets værdi kan målespålideligt.

Assets are recognised in the balance sheet whenit is likely that future economic benefits willflow to the company and the value of the assetcan be measured reliably.

Forpligtelser indregnes i balancen, når det ersandsynligt, at fremtidige økonomiske fordele vilfragå selskabet, og forpligtelsens værdi kan målespålideligt.

Liabilities are recognised in the balance sheetwhen it is likely that future economic benefitswill flow from the company and the value of theliability can be measured reliably.

Ved første indregning måles aktiver og forplig-telser til kostpris. Efterfølgende måles aktiver ogforpligtelser som beskrevet for hver enkelt regn-skabspost nedenfor.

The initial recognition measures assets andliabilities at cost. Subsequently, assets andliabilities are measured as described in thefollowing for each item.

Visse finansielle aktiver og forpligtelser måles tilamortiseret kostpris, hvorved der indregnes enkonstant effektiv rente over løbetiden. Amor-tiseret kostpris opgøres som oprindelig kostprismed fradrag af eventuelle afdrag samttillæg/fradrag af den akkumulerede amortiseringaf forskellen mellem kostpris og nominelt beløb.

Certain financial assets and liabilities aremeasured at amortised cost, recognising a con-stant effective interest over the term. Amortisedcost is stated at initial cost less any deductionsand with addition/deduction of the accumulatedamortisation of the difference between cost andnominal amount.

Ved indregning og måling tages hensyn tilforudsigelige tab og risici, der fremkommer indenårsrapporten aflægges, og som be- eller afkræfterforhold, der eksisterede på balancedagen.

The recognition and measurement takes intoaccount predictable losses and risks arisingbefore the year-end reporting and which prove ordisprove matters that existed at the balancesheet date.

Den regnskabsmæssige værdi af immaterielle ogmaterielle anlægsaktiver gennemgås årligt for atafgøre, om der er indikation af værdiforringelseud over det, som udtrykkes ved normalafskrivning. Hvis dette er tilfældet, foretagesnedskrivning til den lavere genindvindingsværdi.

The carrying amount of intangible and tangiblefixed assets is reviewed annually to determine ifthere is any indication of impairment in excess ofthe amount reflected by normal amortisation ordepreciation. If this is the case, write-downshould be made to the lower recoverableamount.

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RESULTATOPGØRELSEN INCOME STATEMENT

Nettoomsætning Net revenueNettoomsætningen ved salg af handelsvarer ogfærdigvarer indregnes i resultatopgørelsen, så-fremt levering og risikoovergang til køber harfundet sted inden årets udgang. Nettoomsætningindregnes eksklusiv moms, afgifter og med fra-drag af rabatter i forbindelse med salget.

Net revenue from sale of merchandise andfinished goods is recognised in the income state-ment if supply and risk transfer to purchaser hastaken place before the end of the year. Netrevenue is recognised exclusive of VAT, dutiesand less discounts related to the sale.

Produktionsomkostninger Production costsProduktionsomkostninger omfatter omkostninger,herunder lønninger og gager samt afskrivninger,der afholdes for at opnå årets nettoomsætning.Handelsvirksomhederne indregner vareforbrug, ogde producerende virksomheder indregnerproduktionsomkostninger svarende til åretsomsætning. Herunder indgår direkte og indirekteomkostninger til råvarer og hjælpematerialer, lønog gager, leje og leasing samt afskrivninger påproduktionsanlæg.

Production costs comprise costs, including wagesand salaries and write-off, incurred to achievethe net revenue for the year. Commercialenterprises recognise cost of sales, and themanufacturing enterprises recognise productioncosts equal to the revenue for the year, includingdirect and indirect costs of raw materials andconsumables, wages and salaries, rent andleasing and depreciation of production plant.

Under produktionsomkostninger indregnes tilligeafskrivning på aktiverede udviklingsomkostningersamt forskningsomkostninger og de udviklings-omkostninger, der ikke opfylder kriterierne foraktivering.

Production costs also recognise amortisation ofcapitalised development and research costs andthe development costs that do not fulfil thecriteria for capitalisation.

Distributionsomkostninger Distribution costsI distributionsomkostninger indregnes omkost-ninger, der er afholdt til distribution af varersolgt i året samt til årets gennemførtesalgskampagner mv. Herunder indregnes omkost-ninger til salgspersonale, reklame- og udstil-lingsomkostninger samt afskrivninger.

Distribution costs recognise costs incurred fordistribution of goods sold during the year and forsales campaigns carried out during the year.Distribution costs also recognise costs of thesales personnel, advertising and exhibition costsand amortisation.

Administrationsomkostninger Administrative expensesI administrationsomkostninger indregnes omkost-ninger, der er afholdt i året til ledelse og admini-stration af selskabet, herunder omkostninger tildet administrative personale, ledelsen, kontor-lokaler, kontoromkostninger mv. samt afskriv-ninger i forbindelse hermed.

Administrative expenses recognise costs incurredduring the year regarding management andadministration of the company, inclusive of costsrelating to the administrative staff, executives,office premises, office expenses etc and relatedamortisation.

Finansielle indtægter og omkostninger Financial income and expenses in generalFinansielle indtægter og omkostninger indeholderrenteindtægter og -omkostninger, realiserede ogurealiserede kursgevinster og -tab vedrørende,gæld og transaktioner i fremmed valuta, samttillæg og godtgørelse underacontoskatteordningen mv. Finansielle indtægterog omkostninger indregnes med de beløb, dervedrører regnskabsåret.

Financial income and expenses include interestincome and expenses, realised and unrealisedgains and losses arising from debt andtransactions in foreign currencies as well ascharges and allowances under the tax-on-accountscheme etc. Financial income and expenses arerecognised in the income statement by theamounts that relate to the financial year.

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Skat Tax on profit for the yearÅrets skat, som består af årets aktuelle skat ogforskydning i udskudt skat, indregnes i resultatop-gørelsen med den del, der kan henføres til åretsresultat, og direkte på egenkapitalen med dendel, der kan henføres til posteringer direkte påegenkapitalen.

The tax for the year, which consists of thecurrent tax for the year and changes in deferredtax, is recognised in the income statement by theportion that can be attributed to the profit forthe year, and is recognised directly in the equityby the portion that can be attributed to entriesdirectly to the equity.

Selskabet er sambeskattet med koncernforbundnedanske selskaber. Den aktuelle danske selskabs-skat fordeles mellem de sambeskattede danskeselskaber i forhold til disses skattepligtigeindkomst, og med fuld fordeling med refusionvedrørende skattemæssige underskud. De sambe-skattede selskaber indgår i acontoskatte-ordningen.

The company is jointly taxed with wholly ownedDanish and foreign subsidiary enterprises. Thecurrent Danish corporation tax is distributedbetween the jointly taxed Danish companies inproportion to their taxable income, and with fulldistribution with refund regarding taxable losses.The jointly taxed companies are included in thetax-on-account scheme.

BALANCEN BALANCE SHEET

Immaterielle anlægsaktiver Intangible fixed assetsUdviklingsomkostninger omfatter omkostninger,herunder lønninger og gager samt afskrivninger,der direkte og indirekte kan henføres til sel-skabets udviklingsaktiviteter, og som opfylderkriterierne for indregning.

Development costs comprise costs, includingwages and salaries, and amortisation, whichdirectly or indirectly can be related to the com-pany’s development activities and which fulfilthe criteria for recognition.

Aktiverede udviklingsomkostninger måles tilkostpris med fradrag af akkumulerede afskriv-ninger eller til genindvindingsværdi, såfremtdenne er lavere.

Capitalised development costs are measured atthe lower of cost less accumulated amortisationor recoverable amount.

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Materielle anlægsaktiver Tangible fixed assetsIndretning af lejede lokaler, produktionsanlæg ogmaskiner samt andre anlæg, driftsmateriel oginventar måles til kostpris med fradrag afakkumulerede af- og nedskrivninger. Der afskrivesikke på grunde.

Leasehold improvements, production plant andmachinery, other plants, fixtures and equipmentare measured at cost less accumulateddepreciation and write-downs. Land is notdepreciated.

Afskrivningsgrundlaget er kostpris med fradrag afden skønnede restværdi efter afsluttet brugstid.

The depreciation base is cost less estimatedresidual value after end of useful life.

Kostprisen omfatter anskaffelsesprisen samtomkostninger direkte tilknyttet anskaffelsenindtil det tidspunkt, hvor aktivet er klar til atblive taget i brug.

The cost includes the acquisition price and costsincurred directly in connection with the acqui-sition until the time when the asset is ready tobe used.

Der foretages lineære afskrivninger baseret påfølgende vurdering af aktivernes forventedebrugstider og restværdi herefter:

Straight-line depreciation is provided on thebasis of an assessment of the expected usefullives of the assets and their residual value asfollows:

Brugstid Restværdi

Useful life Residual value

Indretning af lejede lokaler................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................5-10 år 0%Leasehold improvements

Produktionsanlæg og maskiner................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................5-10 år 0%Production plant and machinery

Andre anlæg, driftsmateriel og inventar................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................5-10 år 0%Other plants, fixtures and equipment

Fortjeneste eller tab ved afhændelse af mate-rielle anlægsaktiver opgøres som forskellen mel-lem salgspris med fradrag af salgsomkostninger ogden regnskabsmæssige værdi på salgstidspunktet.Fortjeneste eller tab indregnes i resultatopgørel-sen under andre driftsindtægter eller andredriftsomkostninger.

Profit or loss on disposal of tangible fixed assetsis stated at the difference between the salesprice less selling costs and the carrying amountat the time of sale. Profit or loss is recognised inthe income statement as other operating incomeor other operating expenses.


Finansielle anlægsaktiver Fixed asset investmentsDeposita omfatter huslejedeposita, som indregnesog måles til kostpris. Der afskrives ikke på depo-sita.

Deposits include rental deposits which arerecognised and measured at amortised cost.Deposits are not depreciated.

13


Varebeholdninger InventoriesVarebeholdninger måles til kostpris efter FIFO-princippet. I tilfælde, hvor nettorealisations-værdien er lavere end kostprisen, nedskrives tildenne lavere værdi.

Inventories are measured at cost using the FIFO-principle. If the net realisable value is lowerthan cost, write-down is provided to the lowervalue.

Kostpris for handelsvarer samt råvarer og hjælpe-materialer opgøres som anskaffelsespris med til-læg af hjemtagelsesomkostninger.

The cost of merchandise as well as raw materialsand consumables is calculated at acquisitionprice with addition of transportation and similarcosts.

Kostpris for fremstillede færdigvarer samt varerunder fremstilling omfatter kostpris for råvarer,hjælpematerialer, direkte løn og direkte produk-tionsomkostninger.

The cost of finished goods and work in progressincludes the cost of raw materials, consumables,direct payroll costs and direct production costs.

Kostpris for fremstillede færdigvarer samt varerunder fremstilling omfatter kostpris for råvarer,hjælpematerialer, direkte løn og indirekte pro-duktionsomkostninger. Indirekte produktionsom-kostninger indeholder indirekte materialer og lønsamt vedligeholdelse af og afskrivning på de i pro-duktionsprocessen benyttede maskiner, fabriks-bygninger og udstyr, omkostninger til fabriks-administration og ledelse samt aktiverede udvik-lingsomkostninger vedrørende produkterne.

The cost of finished goods and work in progressincludes cost of raw materials, consumables,direct payroll cost and indirect production cost.Indirect production costs include indirect mate-rials and payroll and maintenance and depreci-ation of the machines, factory buildings andequipment used in the production process, costof factory administration and Management andcapitalised development costs relating to theproducts.

Nettorealisationsværdien for varebeholdningeropgøres som salgspris med fradrag af færdiggørel-sesomkostninger og omkostninger, der afholdesfor at effektuere salget, og fastsættes under hen-syntagen til omsættelighed, ukurans og udvikling iforventet salgspris.

The net realisable value of inventories is statedat sales price less completion costs and costsincurred to execute the sale and is determinedwith due regard to marketability, obsolescenceand development in expected sales price.

Tilgodehavender ReceivablesTilgodehavender måles til amortiseret kostpris,hvilket sædvanligvis svarer til nominel værdi.Værdien reduceres med nedskrivning til imøde-gåelse af forventede tab.

Receivables are measured at amortised costwhich usually corresponds to nominal value. Thevalue is reduced by write-down to meet expectedlosses.

Periodeafgrænsningsposter, aktiver Accruals, assetsPeriodeafgrænsningsposter indregnet under ak-tiver omfatter afholdte omkostninger vedrørendeefterfølgende regnskabsår.

Accruals recognised as assets include costs incur-red relating to the subsequent financial year.

Udbytte DividendUdbytte, som forventes udbetalt for året, visessom en særskilt post under egenkapitalen.

The expected payment of dividend for the year isrecognised as a separate item under the equitycapital.

14


Andre hensatte forpligtelser Other provisions for liabilitiesHensatte forpligtelser omfatter forventede om-kostninger til garantiforpligtelser, tab på igang-værende arbejder samt udskudt skat.

Provisions for liabilities include the expectedcost of warranty commitments, loss on work inprogress, and deferred tax.

Garantiforpligtelser omfatter forpligtelser til ud-bedring af arbejder inden for garantiperioden på1-2 år. De hensatte forpligtelser måles og ind-regnes på baggrund af erfaringerne med garanti-arbejder.

Warranty commitments include liabilities forimprovement of work within the warranty periodof 1-2 years. The provision for liabilities ismeasured and recognised on the basis ofexperience with warranty work.

Når det er sandsynligt, at de totale omkostningervil overstige de totale indtægter på et igang-værende arbejde for fremmed regning, hensættesdet samlede tab, der må påregnes på entreprisen.

When it is likely that the total costs will exceedthe total income on the contract work in pro-gress, a provision is made for the total loss thatis anticipated for the contract.

Skyldig skat og udskudt skat Tax payable and deferred taxAktuelle skatteforpligtelser og tilgodehavendeaktuel skat indregnes i balancen som beregnetskat af årets skattepligtige indkomst reguleret forskat af tidligere års skattepligtige indkomstersamt for betalte acontoskatter.

Current tax liabilities and receivable current taxare recognised in the balance sheet as the calcu-lated tax on the taxable income for the year, ad-justed for tax on the taxable income for previousyears and taxes paid on account.

Udskudt skat måles af midlertidige forskelle mel-lem regnskabsmæssig og skattemæssig værdi afaktiver og forpligtelser.

Deferred tax is measured on the temporary dif-ferences between the carrying amount and thetax value of assets and liabilities.

Udskudt skat måles på grundlag af de skattereglerog skattesatser, der med balancedagens lovgiv-ning vil være gældende, når den udskudte skatforventes udløst som aktuel skat. Ændring iudskudt skat som følge af ændringer iskattesatser indregnes i resultatopgørelsenbortset fra poster, der føres direkte påegenkapitalen.

Deferred tax is measured on the basis of the taxrules and tax rates that under the legislation inforce on the balance sheet date will be appli-cable when the deferred tax is expected tocrystallise as current tax. A change in thedeferred tax, which is a result of changes to taxrates, is recognised in the income statement withthe exception of items that are taken directly toequity.

Gældsforpligtelser LiabilitiesGæld er målt til amortiseret kostpris svarende tilnominel værdi.

Liabilities are measured at amortised cost equalto nominal value.

15


Omregning af fremmed valuta Foreign currency translationTransaktioner i fremmed valuta omregnes tiltransaktionsdagens kurs. Valutakursdifferencer,der opstår mellem transaktionsdagens kurs ogkursen på betalingsdagen indregnes i resultat-opgørelsen som en finansiel post.

Transactions in foreign currencies are translatedat the rate of exchange on the transaction date.Exchange differences arising between the rate onthe transaction date and the rate on thepayment date are recognised in the incomestatement as a financial income or expense.

Hvis valutapositionen anses for sikring af frem-tidige pengestrømme, indregnes urealiseredeværdireguleringer direkte på egenkapitalen.

If the foreign exchange position is considered tohedge future cash flows, the unrealised exchangeadjustments are recognised directly in theequity.

Tilgodehavender, gæld og andre monetære posteri fremmed valuta, som ikke er afregnet påbalancedagen, omregnes til balancedagens valu-takurs. Forskellen mellem balancedagens kurs ogkursen på tidspunktet for tilgodehavendets ellergældens opståen indregnes i resultatopgørelsenunder finansielle indtægter og omkostninger.

Receivables, payables and other monetary itemsin foreign currencies that are not settled on thebalance sheet date are translated at theexchange rate on the balance sheet date. Thedifference between the exchange rate on thebalance sheet date and the exchange rate at thetime of occurrence of the receivable or payableis recognised in the income statement asfinancial income or expenses.

Anlægsaktiver, der er købt i fremmed valuta,omregnes til kursen på transaktionsdagen.

Fixed assets acquired in foreign currencies aretranslated at the rate of exchange on thetransaction date.

16


PENGESTRØMSOPGØRELSE CASH FLOW STATEMENT

Pengestrømsopgørelsen viser selskabets penge-strømme for året fordelt på driftsaktivitet, inve-steringsaktivitet og finansieringsaktivitet for året,årets forskydning i likvider samt likvider ved åretsbegyndelse og slutning.

The cash flow statement shows the company’scash flows for the year for operating activities,investing activities and financing activities in theyear, the change in cash and cash equivalents ofthe year and cash and cash equivalents atbeginning and end of the year.

Pengestrømme fra driftsaktivitet:Pengestrømme fra driftsaktivitet opgøres somårets resultat reguleret for ikke-kontante drifts-poster, ændring i driftskapital og betalt selskabs-skat.

Cash flows from operating activities:Cash flows from operating activities are com-puted as the results for the year adjusted fornon-cash operating items, changes in net workingcapital and corporation tax paid.

Pengestrømme fra investeringsaktivitet:Pengestrømme fra investeringsaktivitet omfatterbetaling i forbindelse med køb og salg af immate-rielle, materielle og finansielle anlægsaktiver.

Cash flows from investing activities:Cash flows from investing activities include pay-ments in connection with purchase and sale ofintangible and tangible fixed asset and fixedasset investments.

Pengestrømme fra finansieringsaktivitet:Pengestrømme fra finansieringsaktivitet omfatterændringer i størrelse eller sammensætning afaktiekapital og omkostninger forbundet hermedsamt optagelse af lån samt afdrag på rente-bærende gæld og betaling af udbytte tilselskabsdeltagere.

Cash flows from financing activities:Cash flows from financing activities include chan-ges in the size or composition of share capitaland related costs, and borrowings and repaymentof interest-bearing debt and payment of dividendto shareholders.

Likvider:Likvider omfatter kassekredit og likvide behold-ninger.

Cash and cash equivalents:Cash and cash equivalents include bank overdraftand cash in hand.

17


NØGLETAL KEY FIGURES

De i hoved- og nøgletalsoversigten anførtenøgletal er beregnet således:

The key figures are prepared in accordance withthe guidance of Den Danske Finansanalytiker-forening on “Recommendation & Key Figures”.Reference is made to survey of principal figuresand key figures concerning the formula forcalculation of individual key figures.

Afkastningsgrad: Rate of return:

aktiverligeGennemsnit

100skatfør Resultat

assetsAvg.

100 taxbeforeProfit

Soliditetsgrad: Solvency ratio:

ultimoalt,iPassiver

100ultimol,Egenkapita

periodofends,liabilitieTotal

100periodofendEquity,

Egenkapitalforrentning: Return on equity:

legenkapitaligGennemsnit

100skatefter Resultat

equityAvg.

100after taxProfit

Nettoomsætning pr. medarbejder: Net turnover per employee:

sattefuldtidsanantalligt Gennemsnit

ningNettoomsæt

employeestime-fullofnumber Average

erNet turnov

18

RESULTATOPGØRELSE 1. JANUAR - 31. DECEMBERINCOME STATEMENT 1 JANUARY - 31 DECEMBER

Note 2015 2014tkr.

DKK '000

tkr.DKK '000

BRUTTOFORTJENESTE................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................14.932 22.037GROSS PROFIT

Distributionsomkostninger................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................-220 -246Distribution costs

Administrationsomkostninger................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................-6.930 -6.576Administrative expenses

DRIFTSRESULTAT................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................7.782 15.215OPERATING PROFIT

Finansielle indtægter................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................47 23Financial income

Finansielle omkostninger................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................-183 -91Financial expenses

RESULTAT FØR SKAT................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................7.646 15.147PROFIT BEFORE TAX

Skat af årets resultat................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................1 -1.803 -3.714Tax on profit/loss for the year

ÅRETS RESULTAT................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................5.843 11.433PROFIT FOR THE YEAR

FORSLAG TIL RESULTATDISPONERINGPROPOSED DISTRIBUTION OF PROFIT

Foreslået udbytte for regnskabsåret................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................0 10.000Proposed dividend for the year

Overført resultat................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................5.843 1.433Retained profit

I ALT................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................TOTAL

5.843 11.433

19

BALANCE 31. DECEMBERBALANCE SHEET AT 31 DECEMBER

AKTIVER Note 2015 2014ASSETS tkr.

DKK '000

tkr.DKK '000

Færdiggjorte udviklingsprojekter................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................141 211Development projects completed

Immaterielle anlægsaktiver................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................2 141 211Intangible fixed assets

Produktionsanlæg og maskiner................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................2.505 3.112Production plants and machinery

Andre anlæg, driftsmateriel og inventar................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................697 949Other plants, machinery, tools and equipment

Indretning af lejede lokaler................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................2.024 2.306Leasehold improvements

Materielle anlægsaktiver................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................3 5.226 6.367Tangible fixed assets

Lejedepositum og andre tilgodehavender................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................764 764Rent deposit and other receivables

Finansielle anlægsaktiver................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................4 764 764Fixed asset investments

ANLÆGSAKTIVER................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................6.131 7.342FIXED ASSETS

Råvarer og hjælpematerialer................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................9.722 8.703Raw materials and consumables

Varer under fremstilling................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................8.799 13.345Work in progress

Fremstillede færdigvarer og handelsvarer................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................981 3.080Finished goods and goods for resale

Forudbetalinger for varer................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................0 240Prepayments for goods

Varebeholdninger................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................19.502 25.368Inventory

Tilgodehavender fra salg og tjenesteydelser................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................175 314Trade receivables

Tilgodehavende hos tilknyttede virksomheder................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................21.584 38.938Receivables from group enterprises

Andre tilgodehavender................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................2 0Other receivables

Periodeafgrænsningsposter................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................243 245Prepayments and accrued income

Tilgodehavender................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................22.004 39.497Accounts receivable

Likvider................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................656 234Cash and cash equivalents

OMSÆTNINGSAKTIVER................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................42.162 65.099CURRENT ASSETS

AKTIVER................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................48.293 72.441ASSETS

20

BALANCE 31. DECEMBERBALANCE SHEET AT 31 DECEMBER

PASSIVER Note 2015 2014EQUITY AND LIABILITIES tkr.

DKK '000

tkr.DKK '000

Selskabskapital................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................2.000 2.000Share capital

Overført overskud................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................18.406 12.563Retained profit

Forslag til udbytte................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................0 10.000Proposed dividend

EGENKAPITAL................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................5 20.406 24.563EQUITY

Hensættelse til udskudt skat................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................189 327Provision for deferred tax

Andre hensatte forpligtelser................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................2.900 4.964Other provisions for liabilities

HENSATTE FORPLIGTELSER................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................3.089 5.291PROVISION FOR LIABILITIES

Leverandører af varer og tjenesteydelser................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................11.288 19.935Trade payables

Gæld til tilknyttede virksomheder................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................209 3.489Payables to group enterprises

Selskabsskat................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................1.940 3.713Corporation tax

Anden gæld................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................11.361 15.450Other liabilities

Kortfristede gældsforpligtelser................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................24.798 42.587Current liabilities

GÆLDSFORPLIGTELSER................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................24.798 42.587LIABILITIES

PASSIVER................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................48.293 72.441EQUITY AND LIABILITIES

Eventualposter mv.Contingencies etc.

6

Nærtstående parterRelated parties

7

EjerforholdOwnership

8

MedarbejderforholdStaff costs

9

21

PENGESTRØMSOPGØRELSE 1. JANUAR - 31. DECEMBERCASH FLOW STATEMENT 1 JANUARY - 31 DECEMBER

2015 2014tkr.

DKK '000

tkr.DKK '000

Årets resultat................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Profit for the year

5.843 11.433

Årets afskrivninger tilbageført................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Reversed depreciation of the year

1.325 1.294

Skat af årets resultat tilbageført................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Reversed tax on profit for the year

1.805 3.714

Ændring i hensatte forpligtelser................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Change in other provisions

-2.202 3.054

Betalt selskabsskat................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Corporation tax paid

-3.578 -3.494

Ændring i varebeholdninger................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Change in inventory

5.866 3.632

Ændring i tilgodehavender................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Change in receivables

17.402 -11.940

Ændring i kortfristet gæld (ekskl. bank, skat og udbytte)................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Change in current liabilities (excl. bank, tax and dividend)

-15.924 808

PENGESTRØMME FRA DRIFTSAKTIVITETER................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................CASH FLOWS FROM OPERATING ACTIVITIES

10.537 8.501

Køb af materielle anlægsaktiver................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Purchase of tangible fixed assets

-115 -2.438

PENGESTRØMME FRA INVESTERINGSAKTIVITET................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................CASH FLOWS FROM INVESTING ACTIVITIES

-115 -2.438

Betalt udbytte i regnskabsåret................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Dividend paid in the financial year

-10.000 -8.716

PENGESTRØMME FRA FINANSIERINGSAKTIVITET................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................CASH FLOWS FROM FINANCING ACTIVITIES

-10.000 -8.716

ÆNDRING I LIKVIDER................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................CHANGE IN CASH AND CASH EQUIVALENTS

422 -2.653

Likvider 1. januar................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Cash and cash equivalents at 1 January

234 2.887

LIKVIDER 31. DECEMBER................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................CASH AND CASH EQUIVALENTS AT 31 DECEMBER

656 234

22

NOTERNOTES

Note

Skat af årets resultatTax on profit/loss for the year

1

Beregnet skat af årets skattepligtige indkomst................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Calculated tax on taxable income of the year

1.940 3.713

Regulering af udskudt skat................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Adjustment of deferred tax

-137 1

1.803 3.714

Immaterielle anlægsaktiverIntangible fixed assets

2

Færdiggjorte

udviklingsprojek-

terDevelopment

projectscompleted

Kostpris 1. januar 2015................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Cost at 1 January 2015

924

Kostpris 31. december 2015................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Cost at 31 December 2015

924

Afskrivninger 1. januar 2015................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Amortisation at 1 January 2015

713

Årets afskrivninger ................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Depreciation og the year

70

Afskrivninger 31. december 2015................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Depreciation at 31 December 2015

783

Regnskabsmæssig værdi 31. december 2015................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Carrying amount at 31 December 2015

141

23

NOTERNOTES

Note

Materielle anlægsaktiverTangible fixed assets

3

Produktionsanlæg

og maskiner

Andre anlæg,

driftsmateriel og

inventar

Indretning af

lejede lokalerProduction plants

and machineryOther plants,

machinery, toolsand equipment

Leaseholdimprovements


11.706 2.485 2.909

Tilgang................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Addition

53 38 24

Afgang................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Disposal

-350 -41 0


11.409 2.482 2.933

Af- og nedskrivninger 1. januar 2015................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Depreciation and write-down at 1 January 2015

8.594 1.537 603

Tilbageførsel af afskrivninger på afhændedeaktiver................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Reversal of depreciation of assets disposed of

-350 -41 0

Årets afskrivninger ................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Depreciation

660 289 306

Af- og nedskrivninger 31. december 2015................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Depreciation and write-down at 31 December 2015

8.904 1.785 909


2.505 697 2.024

Finansielle anlægsaktiverFixed asset investments

4

Lejedepositum og

andre

tilgodehavenderRent deposit andother receivables


764


764


764

24

NOTERNOTES

Note

EgenkapitalEquity

5

Selskabs-

kapital

Overført

overskud

Forslag til

udbytte I altShare capital Retained

profitProposeddividend

Total

Egenkapital 1. januar 2015................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................2.000 12.563 10.000 24.563Equity at 1 January 2015

Betalt udbytte................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................-10.000 -10.000Dividend paid

Forslag til årets resultatdisponering................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................5.843 5.843Proposed distribution of profit

Egenkapital 31. december 2015................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................2.000 18.406 0 20.406Equity at 31 December 2015

Selskabskapitalen har ikke været ændret i de seneste 5 år.The share capital has not been changed in the past 5 years.

SelskabskapitalShare capital

Selskabskapitalen er fordelt således:Share capital:

A-aktier, 2.000 stk. a nom. 1.000 kr.................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................2.000 2.000

2.000 2.000

Eventualposter mv.Contingencies etc.

6

Selskabet har indgået operationelle leasingkontrakter på driftsmateriel med en samlet årligydelse på 58 tkr. og en samlet forpligtelse på 29 tkr. i den resterende leasingperiode. Dengennemsnitlige restløbetid er 10 måneder.

Selskabet har indgået operationelle leasingkontrakter på leje af ejendomme med en samletårlig ydelse på 3.171 tkr. og en samlet forpligtelse på 4.381 tkr. i den resterende lejeperiode,hvoraf 0 tkr. forfalder efter 5 år.

The company has entered into operating lease agreements on fixtures with an average annual lease payment of DKK('000) 58 and an obligation in the rest of the lease period on DKK ('000) 29. The average remaining currency are 10months.

The company has entered into operating lease agreements on rent of property with an average annual leasepayment of DKK ('000) 3,171 and an obligation in the rest of the lease period on DKK ('000) 4,381 where DKK ('000) 0fall due after 5 years.

Hæftelse i sambeskatningenSelskabet er sambeskattet med de øvrige selskaber i koncernen og hæfter solidarisk for deskatter, som vedrører sambeskatningen.

Joint liabilitiesThe company is jointl and taxated with other companies in the Danish group and are joint and several liable for thetaxes arisen in the joint taxation.

25

NOTERNOTES

Note

Nærtstående parterRelated parties

7

Virksomhedens nærtstående parter omfatter følgende:

Bestemmende indflydelseHaas-Meincke A/S, Tonsbakken 10, 2740 Skovlunde. Eneejer af aktiekapitalen. Haas-MeinckeA/S udarbejder koncernregnskab.

The company’s related parties include:

Controlling interestHaas-Meincke A/S, Tonsbakken 10, 2740 Skovlunde. Sole owner of the share capital. Haas-Meincke A/S preparesconsolidated financial statements.

EjerforholdOwnership

8

Selskabet indgår i koncernregnskabet for Haas-Meincke A/S, Tonsbakken 10, 2740 Skovlunde,hvilket er modervirksomheden for den mindste koncern, hvori selskabet indgår somdattervirksomhed.Selskabet indgår også i koncernregnskabet for Haas Food Equipment GmbH, Gerstlgasse 25, A-1210 Wien, Østrig, hvilket er selskabets ultimative modervirksomhed.De pågældende koncernregnskaber kan rekvireres ved henvendelse til modervirksomhederne.The company is included in the consolidated financial statements of Haas-Meincke A/S, Tonsbakken 10, 2740Skovlunde, which is the parent company of the smallest group in which the company is a subsidiary.The company is also included in the consolidated financial statements of Haas Food Equipment GmbH, Gerstlgasse25, A-1210 Wien, Østrig, which is the company’s ultimate parent.The consolidated financial statements can be obtained on request to the parent companies.

2015 2014tkr. tkr.

MedarbejderforholdStaff costs

9

Løn og gager................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Wages and salaries

37.648 41.514

Pensioner................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Pensions

3.104 3.462

Omkostninger til social sikring................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................Social security costs

799 1.289

41.551 46.265

2e ellgard equipment a/s stadionvej 3, 8840...

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