Corteva Agriscience Denmark A/S

Management's Review

Development in the yearProfit before tax increased to 26.530 tDKK in 2022 against 17.006 tDKK in 2021.Within 2022 the heritage legal entities within Denmark have been consolidated whereas Corteva Agrisciences Denmark A/S as the survivinglegal entity.Profit before tax is within expectations for the year.Development in activities and financesThe gross profit of the year is very satisfying. This as a result of the strong market position and the continued investment and growth of theactivities by the Company as a major R&D based player in the market for plant protection products and technologies for modern farming.This market position has in 2022 been very successfully defended and this in a market where the competition from generic suppliers ofplant protection products are increasing year by year.With the demand from society for a sustainable agricultural production and food supply there is an increasing need for new technologieswithin farming. Corteva Group being a global pure-play R&D agricultural company with a strong pipeline of new innovative cropprotection products, Seed and seed applied technologies, Biologicals will through its operations offer such solutions to the DanishAgricultural industry and other Nordic and Baltic countries. This with increased investment and intensity to launch such technologiesalso in 2023 and onwards.With effect from 1 January 2022 the Company merged with Dupont Danmark ApS on 1 October 2022. The effect of the merger wasrecognised directly on shareholders equity with the amount of tDKK 31,256.Since 2020 the Company expanded its activity in the Baltics and have established two minor branches in Estonia and Latvia. The twobranches have no significant impact on the Financial statement for the Company.