Chrispa Aps (Koncern)

Management's review

Development in activities and financial positionProfit after tax for the year is DKK 68.2 million. The Group’s equity at 30 April 2022 is DKK 426.3 million. The performance for the year is overall satisfactory.OJ Electronics A/SOJ Electronics has generated a revenue of DKK 424 million. The growth was 15.5% against last year’s revenue. Growth was achieved through a strong development at some of the larger customers of OJ Electronics and through new customers. Throughout the year OJ Electronics was favoured by a strong growth in demand on the back of the Covid-19 decline. OJ Electronics still sees growth as a result of investments and co-creation with our customers in development of leading products and solutions for the market. The current investment rate is in balance with the overall growth of the company. On a continuous basis, OJ Electronics invests in re-designing components and solutions in order to optimize availability of the company products. These activities have been intensified through the year. Processes and procedures are optimized through designated initiatives in order to stay competitive. Reluctance in cost spending has reduced the overall fixed cost for OJ Electronics as some activities and expenditures were reduced due to Covid-19. The Profit from ordinary activities is DKK 76 million equivalent to an Operating margin of 17.8%. This is a decrease compared to last year where Operating margin was 20.9%. The result for the year is a profit of DKK 64 million, which is an increase, compared to last year at DKK 6 million.We focus on energy-efficient products and an increased demand for products supporting cross system optimizations and connectivity. A large part of the products contain functionality for use in connection with or over the Internet. High comfort remains a focus point with market adaptation of the product specifications.OJ Electronics has invested in extensive product developments. Products are based on specific customers and market expectations and have resulted in a number of platforms that will form the framework for more products in the coming years.OJ Electronics invests in improved operating processes and manufacturing and has a strong supplier base under continuous improvement. The investments strengthens the profit and reduces risk in the coming years.Investment activityThe Parent Company, Chrispa ApS, is continuously working on expanding its portfolio of investments in securities, real estate and businesses.In the financial year 2021/22, an amount of DKK 11.5 million was invested in unlisted businesses. The Company’s total investments (carrying amount) of securities, shares in associates/other shares and real estate amount to DKK 248.2 million as of 30 April 2022. In addition, the Company has cash and cash equivalents of DKK 1 million.Return on invested capital in the form of financial items and impairment write-downs implied an accounting profit of DKK 7.4 million. Securities are measured at fair value, whereas non-current investments in associates and other investments are measured at cost due to lack of fair value. That means that any increase in value will be recognised at realisation and not ingoing. The results are considered acceptable.Capital resourcesThe Group's primary capital resources comprise liquid assets and unutilized credit facilities. Current capital resources are estimated to be sufficient to realize the budgeted activity for 2022/23.