Lake Victoria Vanilla Aps

Development in activities and financial and economic position




In the current year the Company has realized a profit of DKK 141 thousand versus a loss of DKK 23 thousand in prior year.



In 2022 the Company has carried out a capital increase of DKK 1.8 million in the subsdiairy located in Tanzania, which has contributed to the size of the investment portofolio. In addition, the Company has provided loans to the subsidiary to finance the start-up operations of the subsidairy. The investment and the loans are carried at cost. Management is confident that the carrying amounts are at least equal to the recoverable amount based on our positive expectations to the financial performance in the mid- to long-term and considering that the investment is on track according to the business plan for the subsidiary. Being a start-up company, which is still in its start-up phase and awaiting the first vanilla production, though, there is a risk that the investment will not materialise as expected, and hence readers of the financial statements should note that there there is a higher than normal uncertainty as to the recoverability of the investments and the loan receivables.



Furthermore, two capital increases were performed in 2022 resulting in a combined capital increase of equity of totally DKK 3.6 million, which is to contribute to the continous funding of the Company's activities.