F. Junckers Industrier A/S

Description of significant activities of entity

Junckers Industrier A/S is Europe’s leading manufacturer of solid wood flooring for the sports, residential and commercial segments.
At the same time, we are the only flooring company in the market that can complement our flooring products with a carefully balanced range of our own developed and produced wood-care products for regular maintenance and renovation of wooden floors.
All our wood floors and wood-care products are developed and produced in Denmark and are therefore a result of the solid traditions of Danish craftsmanship.
At Junckers, we have worked for many years to produce floors with a positive environmental footprint. In 2022 we have taken this work one step further and released our firs climate accounts. The result of the climate accounts also emphasises that our business model and production methods take nature into account.
Junckers is represented in 7 countries through subsidiaries and worldwide through a network of distributors and agents. Exports account for two-thirds of the total sales and the products are sold in more than 45 countries worldwide.
2023 has been a challenging year with continuing instability and increased inflation. We have however managed the impact well.

Description of development in activities and financial affairs

The income statement for 2023 shows a profit of DKK 18,053 thousand against a profit of DKK 21,794 thousand last year, and the balance sheet at 31 December 2023 shows equity of DKK 198,960 thousand.
Revenue in 2023 reached DKK 341 million, which is DKK 24 million lower than 2022. US sports segment, Export and France have been the key growth markets for 2023, while our business in Denmark has suffered setbacks.
Gross profit reached DKK 88 million compared to DKK 96 million in 2022. The gross profit has been under pressure in 2023 as a consequence of continuous elevated raw material prices and the general rise in inflation.
Result before net financials is DKK 13 million compared with a loss of DKK 5 million in 2022. The operating result benefit from lower spending on energy, maintenance and marketing.
From a financial perspective the result is in accordance with plans and budget for the year.
In early 2024, the Group renewed its agreement on future capital resources with its main bank contact. The agreement will run until further notice on an annual basis. The Group’s liquidity situation is expected to be unchanged by the end of 2024 compared with the end of 2023.
Non-financial matters
F. Junckers Industrier A/S is owned 100% by Junckers Holding A/S. Junckers Holding A/S is owned 94% of Jysk-Fynsk Kapital J ApS.
In accordance with section 112(1) of the Danish Financial Statements Act, the Company has not prepared consolidated financial statements.

Description of significant events occurring after end of reporting period

No events have occurred after the balance sheet date to this date, which would influence the evaluation of this annual report.

Description of expected development

Entering 2024 we expect the year to be challenging with the construction business continuing at a slower pace and uncertain currency and energy costs developments. Hence, we expect a revenue close to DKK 330 million with an operating result around DKK 10 million.