Fayard Holding Aps

Ledelsesberetning

Key activities The group's main activity is it's subsidiary firm Fayard A/S is a maritime service company primarily engaged in service, maintenance, retrofits and conversion of ships. Its customers are all over the world. Development in the year The Group's revenue for 2023/24 was TDKK 1,335,595 compared to TDKK 1,119,530 last year. The income statement for 2023/24 shows a profit of TDKK 400,855 compared to TDKK 213,385 last year, and the Group's balance sheet at 30 September 2024 shows equity of TDKK 1,790,267 compared to TDKK 1,414,412 last year, which is considered very satisfactory by Management taking the current market into consideration and compared to the Group’s expectations for the year.The realized result deviates positively from the expectation due to enter of new orders after the end of the previous financial year, which have contributed positively.There are engaged approx. 900 people at the yard throughout the period. Of these 157 are directly employed by the Group, the rest is engaged by business partners. Targets and expectations for the year ahead The management expects a profit (EBIT) next year in the range of DKK 100-120m, but this estimate is associated with some uncertainty. In addition to the financial objectives, there will be a focus on strengthening internal processes and cooperation with suppliers to ensure high quality and responsibility throughout the value chain. Furthermore investment in employee development and optimization of internal work processes to strengthen the company's organizational foundations is prioritized. At the same time, sustainability and a green transition to meet society's expectations about environmental responsibility is at the top of the agenda. These initiatives must support long-term, balanced growth that creates value for both the company and its stakeholders. Intellectual capital resources The Group employs a significant number of apprentices, which aligns with the shipyard's focus on ensuring the necessary workforce at various levels within the company moving forward. This is also essential for future-proofing the workforce at the shipyard and in the shipyard industry in general. The Group also focuses on engaging regular partners to secure apprenticeship placements for apprentices. As part of this commitment, the Group has established an apprentice workshop during the fiscal year. The workshop serves as a supplement to the training apprentices receive at vocational schools and has been created in close collaboration with these educational institutions. The Group considers the education of the next generation to be one of the most important societal tasks both locally and nationally. This is reflected in the hiring of apprentices in various trades, while the company also begins to employ younger generations in other roles. Emphasis is placed on skills development through training and courses to ensure that employees develop professionally and contribute to the continued operation of the shipyard. The Group also prioritizes other internal development among employees within the organization. Additionally, the Group is an active partner in the LSP (Center for Large Structure Production) project at the University of Southern Denmark. The Group has a goal that 10% of the workforce among the hourly employees who work at the Group must be apprentices. The objective was met on the status day. After the end of the financial year, additional apprentices were hired. The target of 10% is maintained for the coming financial year. 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 30 September 2024 of the Group and the results of the activities and cash flows of the Group for the financial year for 2023/24 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.