Euro Pool System Denmark Aps

Ledelsesberetning

The Company's principal activities
The Company's activities are to provide reusable packaging in the European fresh supply chain. EPS Denmark is part of the EPS division in the Euro Pool System Group. Euro Pool Group is constantly working towards further standardization and integration of its reusable packaging solutions with the logistic and supply chain processes of its customers. With a network of nearly 200 service centers and offices in 20 countries in Europe, Euro Pool Group ensures reliability, sustainability, and efficiency throughout the entire supply chain.
Development in the activities and the financial situation of the Company
Development in activities and the financial situation
The war in the Ukraine fueled a sharp increase of oil and energy prices, which in its turn further increased the inflation throughout 2023. For the EPS division, the impact continues to be reflected in higher transport and throughput costs, in line with our expectations. EPS was able to mitigate part of the impact of these cost increases by implementing price increases and cost reduction programs.
The revenue in 2023 amounts to DKK 130.817.826 (2022: DKK 127.842.122). The ordinary result after tax amounts to DKK 2.214.261 (2022: DKK 3.456.485). Revenue increased by 2.33% while total operating expenses decreased by 1.55% as it invests in growth for FY 2023 and beyond.
As of 31 December 2023, the balance sheet shows equity of DKK 17.911.872 (2022: DKK 15.647.611).
Distribution of profit
The Board of Directors proposes that the profit for the year is transferred to retained earnings.
Outlook
In FY 2024 and beyond, it is expected that growth will mainly be driven through an increase in annual recurring revenue because of increased volumes. Price increases will also help to increase revenues, although to a lesser extent. EBITDA is expected to increase accordingly. Management furthermore expects that EPS will continue to face challenges throughout the year 2024 given the current and expected global geo-political uncertainties that can strongly impact gas-, energy-, and raw material availability and prices and general market circumstances. Management will closely monitor relevant market circumstances and will take appropriate actions to mitigate the potential impact as much as possible.
Operating risks
Our operating risks are limited due to the transfer pricing model with EPS that guarantees a specific margin for activities performed.
ESG
Sustainability is in the DNA of EPS and its reusable solutions since the start. By Euro Pool Group a more structured approach was chosen in 2017 based on a materiality analysis with stakeholders and new carbon reduction goals were defined & projects implemented. Also, as from the year 2017 Euro Pool Group publishes a Sustainability Report in which amongst others the carbon footprint in scopes 1,2 and 3 is reported. In 2022 Euro Pool Group intensified its efforts with regards to sustainability and a new purpose was defined: “Enabling Supply Chain Circularity”. In 2023 the company strategy was sharpened with new objectives and action plans in the dimensions Planet, People and Performance.
In preparation for the Corporate Sustainability Reporting Requirements (CSRD) the Group performed a double materiality analysis together with important stakeholders. The outcome of this analysis will provide guidance for the to be developed KPI's in 2024 which will be included in future CSRD reporting.
Subsequent events
No subsequent events have incurred that are required to be reported or disclosed in the financial statements.
Insecurity regarding recognition or measurement
Recognition and measurement in the Annual Report have not been subject to any major uncertainty.
Exceptional circumstances
The financial position at 31 December 2023 of the Company and the results of the activities of the Company for the financial year for 2023 have not been affected by any unusual events.

Beskrivelse af virksomhedens væsentligste aktiviteter

The Company's principal activities
The Company's activities are to provide reusable packaging in the European fresh supply chain. EPS Denmark is part of the EPS division in the Euro Pool System Group. Euro Pool Group is constantly working towards further standardization and integration of its reusable packaging solutions with the logistic and supply chain processes of its customers. With a network of nearly 200 service centers and offices in 20 countries in Europe, Euro Pool Group ensures reliability, sustainability, and efficiency throughout the entire supply chain.

Beskrivelse af usikkerhed ved indregning eller måling

Insecurity regarding recognition or measurement
Recognition and measurement in the Annual Report have not been subject to any major uncertainty.

Beskrivelse af usædvanlige forhold, der kan have påvirket indregningen eller målingen

Exceptional circumstances
The financial position at 31 December 2023 of the Company and the results of the activities of the Company for the financial year for 2023 have not been affected by any unusual events.

Beskrivelse af udviklingen i virksomhedens aktiviteter og økonomiske forhold

Development in the activities and the financial situation of the Company
Development in activities and the financial situation
The war in the Ukraine fueled a sharp increase of oil and energy prices, which in its turn further increased the inflation throughout 2023. For the EPS division, the impact continues to be reflected in higher transport and throughput costs, in line with our expectations. EPS was able to mitigate part of the impact of these cost increases by implementing price increases and cost reduction programs.
The revenue in 2023 amounts to DKK 130.817.826 (2022: DKK 127.842.122). The ordinary result after tax amounts to DKK 2.214.261 (2022: DKK 3.456.485). Revenue increased by 2.33% while total operating expenses decreased by 1.55% as it invests in growth for FY 2023 and beyond.
As of 31 December 2023, the balance sheet shows equity of DKK 17.911.872 (2022: DKK 15.647.611).
, Development in activities and the financial situation
The war in the Ukraine fueled a sharp increase of oil and energy prices, which in its turn further increased the inflation throughout 2023. For the EPS division, the impact continues to be reflected in higher transport and throughput costs, in line with our expectations. EPS was able to mitigate part of the impact of these cost increases by implementing price increases and cost reduction programs.
The revenue in 2023 amounts to DKK 130.817.826 (2022: DKK 127.842.122). The ordinary result after tax amounts to DKK 2.214.261 (2022: DKK 3.456.485). Revenue increased by 2.33% while total operating expenses decreased by 1.55% as it invests in growth for FY 2023 and beyond.
As of 31 December 2023, the balance sheet shows equity of DKK 17.911.872 (2022: DKK 15.647.611).