Turf Tank ApS

Ledelsesberetning

Key activities The Group's activity consists of the production, development, and sale of autonomous line marking robots for sports fields. Turf Tank is the company behind the world's first, most well-known, and market-leading autonomous line marking robot. Development in the year The income statement of the Group for 2024 shows a loss of DKK 41 million, compared to the expected loss of DKK 35-25 million. The lower-than-expected result is primarily due to an additional DKK 7 million depreciation of operating assets. However, EBITDA reached DKK 32 million, which falls within the expected range of DKK 30-40 million.Despite the loss, the Group achieved strong sales figures, with almost all ambitious budget targets met. This reflects the ongoing demand for our products and the effectiveness of our sales strategy. We continue to gain market share, driven improved sales channels, and strengthened customer relations.Looking ahead, we expect further positive development, with a particular focus on optimizing our processes to enhance efficiency and profitability. Capital resources There remains sufficient access to credit facilities to support the Group’s daily operations and investments aligned with Turf Tank’s strategic objectives. Targets and expectations for the year ahead We expect continued growth in demand for our core products, supporting stable business expansion. For 2025, EBITDA is expected in the range of DKK 45–60 million, with a net result between DKK -30 and -45 million. These projections are in line with our long-term strategy.Reported figures are impacted by currency fluctuations, as a significant share of earnings is in USD. The weaker USD in 2025 is expected to reduce EBITDA by approximately DKK 10 million compared to 2024. Research and development Innovation remains at the core of our business strategy, and we continue to invest significantly in research and development to maintain our competitive edge. Our R&D department is engaged in multiple disciplines to develop new products and enhance existing solutions. External environment Turf Tank provides products that contribute positively to reducing our customers’ carbon footprint. This is achieved through a shift away from fossil fuels, lower paint consumption, and a circular business model aimed at maximizing utilization and extending the lifespan of our robots. We remain committed to optimizing our processes to further minimize our environmental impact. Intellectual capital resources Employees remain Turf Tank’s most significant asset. We continue to focus on attracting and retaining top talent by offering attractive career opportunities and fostering an inspiring work environment. Knowledge sharing and innovation remain central pillars of our corporate culture. Branches abroad Our international presence is a critical component of our growth strategy. We have established operations in several key markets, which allow us to serve local customers more effectively and tailor our products and services to regional needs. These international branches continue to play a significant role in strengthening our market position and contributing to overall revenue. Subsequent events No events materially affecting the assessment of the Annual Report have occurred after the balance sheet date.