Babcock & Wilcox A/S

Beskrivelse af usikkerhed ved indregning eller måling
Uncertainties about recognition or measurement
We refer to descriptions in note 2 in the financial statements.

Beskrivelse af udviklingen i virksomhedens aktiviteter og økonomiske forhold
Development in activities and financial matters
The financial position on 31 December 2023 of the Company and the results of the activities of the Company for the financial year for 2023 have resulted in loss of the share capital. It is the management’s expectations that the equity will be reestablished based on the Company's operation.
Financial review The end-market demand for our products is strong. The markets in Europe, North and South America and Asia are showing increasing interest in renewable power generation projects from waste and biomass fuel sources, which are well aligned with our products and services. We are confident in our leading technology, which is in high demand in all markets. In 2023, we continued to focus on our core technologies and on transitioning into a fully integrated and efficient global projects and engineering execution model leveraging our knowledge and expertise with the rest of the global B&W operations. Our operations regarding service have been reduced as the main activity of service have been transferred to Babcock & Wilcox Renewable Service A/ S, which is also part of the group. This strategic transfer was to ensure we consolidated our service personnel under one system and operation and best service our customers. We continue to see strong demand for our renewable technologies. As a result, we expect sales to increase as we continue to pursue our growth strategy. We have handed over well-performing plants to our customers, and these plants function as showcases for future customers and offer longer-term opportunities for our service and O&M business. A more detailed project status summary is contained in our parent company's 10-K to be found at lnvestors.babcock.com. The shareholders’ support letter provided in 2017, in which B&W committed to fund our company with the cash required to meet our obligations and allow the business to continue as a going concern, was last year extended through at minimum December 2025 (see note 1).