Projectgold Aps

Development in activities and financesThe group’s income statement shows a profit before tax of DKK 23.73 m, a decrease of DKK 65.04 m / 73.27% against 2021. The balance sheet on 31 December 2022 shows an equity amount of DKK 381.84 m and a balance sheet total of DKK 523.40 m. During the year, the Swedish company Next2vet AB, has been acquired to increase the market share on the Swedish market. For more information see section “Profit/loss for the year in relation to expected developments”.

Particular risks
The group’s most significant operating risk is attached to the ability to be strongly positioned in the markets where its products are sold and to currently ensure high service and quality at competitive prices.
The goal is to maintain a strong market position, ensure high service quality and competitive prices. In order to strengthen the continued strong market position, service, quality and competitive prices processes are in place in all areas to proactively prevent and minimize risks.

Policies are in place to ensure existing and potential material risks that could impact the achievement of strategic objectives are identified, managed or mitigated.

Foreign exchange risks:
The group’s revenue and earnings are related to the development for SEK, NOK, GBP, and USD. No speculative foreign currency positions are made. To avoid unnecessary currency risk, all bank accounts are exchanged to local currency every month.

Exchange adjustments of investments in subsidiary enterprises, which are independent entities, are recognized directly in the equity. Related exchange risks are generally not hedged because it is the group’s opinion that a current hedging of such long‑term investments will not be optimal from an overall risk and cost viewpoint.

Interest rate risk:
The short‑term debt is subject to a variable interest rate. Changes in interest rates will therefore influ-ence earnings.