Gnp Energy Danmark Aps

The Company's principal activities The Company's principal activities consist in trade of electricity, including particiation in other companies with similar operations, and the purchase and sale of shares or otherwise make an interest in other companies. Development in activities and the financial situation The Company's Income Statement of the financial year 1 January 2022 - 31 December 2022 shows a result of DKK -44.790.493 and the Balance Sheet at 31 December 2022 a balance sheet total of DKK 34.016.543 and an equity of DKK -72.512.337. Via the parent company, future purchases of electricity are hedged. Settlement for this is received via the parent company. Per 31 December 2022, the value of all open hedging agreements is secured via counter-directed agreements. These contracts therefore no longer represent hedging and the value of open agreements has been recognized as income. The negative results have led to liquidity challenges, which became particularly acute during 2022 due to the increase in prices and the extent of fixed price contracts for the supply of electricity. The company has changed or terminated customer contracts with prices that were either fixed or based on ceiling-price during the second half of 2022. The company has been given loans from its parent company and sister company in Norway to fund its operations and fulfil its financial obligations in 2022 and start of 2023. The parent company has provided letters of support to some of the main creditors of GNP Energy Danmark Aps. Elify Energy Norge AS, the sole owner of GNP Energy Danmark Aps confirms that repayment of loans from group companies will not be done before GNP Energy Danmark Aps has liquidity to do so after fulfilling other financial obligations. This confirmation is valid for the period of at least 12 months from approving the annual report for 2022. Management expects the Company to recover its equity through future operations. For the 5 months ending 31 May 2023 there are significant positive results, and the forecast for the next 12 months also shows positive results. There are also values related to the customer base and contracts that are not booked in the financial statements. Based on the above assumptions, Management expects that the Company will be able to continue as a going concern and therefore presents the financial statements on a going concern basis. Post financial year events Some electricity customers have made claims against GNP Energy Danmark Aps after the company and the customers did not come to an agreement on changes to contracts with fixed-price and ceiling-price at the end of 2022. In 2023, settlements were made with some of these. For other claims, either no further contact has been made or the company and its lawyers expect to win the case or settle without significant payments. An accounting provision has been made as of 31 December 2022 which covers expected claims including legal costs. No further events have occurred since the balance sheet date that would materially affect the Group's financial position.

Development in activities and the financial situation The Company's Income Statement of the financial year 1 January 2022 - 31 December 2022 shows a result of DKK -44.790.493 and the Balance Sheet at 31 December 2022 a balance sheet total of DKK 34.016.543 and an equity of DKK -72.512.337. Via the parent company, future purchases of electricity are hedged. Settlement for this is received via the parent company. Per 31 December 2022, the value of all open hedging agreements is secured via counter-directed agreements. These contracts therefore no longer represent hedging and the value of open agreements has been recognized as income. The negative results have led to liquidity challenges, which became particularly acute during 2022 due to the increase in prices and the extent of fixed price contracts for the supply of electricity. The company has changed or terminated customer contracts with prices that were either fixed or based on ceiling-price during the second half of 2022. The company has been given loans from its parent company and sister company in Norway to fund its operations and fulfil its financial obligations in 2022 and start of 2023. The parent company has provided letters of support to some of the main creditors of GNP Energy Danmark Aps. Elify Energy Norge AS, the sole owner of GNP Energy Danmark Aps confirms that repayment of loans from group companies will not be done before GNP Energy Danmark Aps has liquidity to do so after fulfilling other financial obligations. This confirmation is valid for the period of at least 12 months from approving the annual report for 2022. Management expects the Company to recover its equity through future operations. For the 5 months ending 31 May 2023 there are significant positive results, and the forecast for the next 12 months also shows positive results. There are also values related to the customer base and contracts that are not booked in the financial statements. Based on the above assumptions, Management expects that the Company will be able to continue as a going concern and therefore presents the financial statements on a going concern basis.