Pas Normal Studios Aps

Ledelsesberetning

Key activities The Group's purpose is to design, develop and sell sports and leisure clothing as well as other clothing items, products and merchandise for sports and leisure use and related businesses. Development in the year The income statement of the Group for 2024 shows a profit of DKK 16,545,365, and at 31 December 2024 the balance sheet of the Group shows a positive equity of DKK 113,236,109. The past year and follow-up on development expectations from last year The group's result for the year is not at the level announced in the annual report for 2023, where the expectation was set for a growth in the result before tax of 20-30% compared to 2023. The board of directors and the executive board are satisfied with the year's result, as the market is characterized by a large supply with large discounts from competitors. During the financial year, the group has made significant investments in the company's digital platform, including strengthening the organization and investing in product development and marketing. In addition, the group has opened a new company in China, in addition to the existing ones in Mallorca, Spain, in Copenhagen, Denmark, Munich, Germany and in San Francisco, USA. Targets and expectations for the year ahead The management expects growth in the result before tax of 20% compared to 2024. Research and development Investments have been made in development costs related to the company's growth platform. External environment The group does not have its own production but requires that the respective manufacturers meet the applicable environmental requirements set out in the group's code of conduct. Intellectual capital resources The core of the group's knowledge resources lies in the experience of the employees, which is an essential part of future innovation and associated unique designs. Branches abroad The group has no branches abroad. Uncertainty relating to recognition and measurement There has been no uncertainty regarding recognition and measurement in the Annual Report. Unusual events The financial position at 31 December 2024 of the Group and the results of the activities and cash flows of the Group for the financial year for 2024 have not been affected by any unusual events. Subsequent events No events materially affecting the assessment of the Annual Report have occurred after the balance sheet date.