Company type
Limited Corporation (APS)
Established
1983
Size
Small
Employees
47
Revenue
608 MDKK
Gross profit
-174,943,000 DKK
Operating Profit (EBIT)
-212,527,000 DKK
Profit for the year
-1,324,695,000 DKK
Equity
2,993 MDKK
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Rank Profit for the year

Rank in industry
621/621
"Lowest 10%"
Rank in Denmark
323,689/323,715
"Lowest 10%"

Top management Top 3

Board Top 3

Sergio Amodeo 9Chairman of board
Elie Younes 1Boardmember
Sven Gösta Andreas Fondell 1Boardmember

Legal owners Top 3

100%Radisson Hospitality Denmark Aps

Rights certificate

Selskabet tegnes af to bestyrelsesmedlemmer i forening eller to direktører i forening eller af et bestyrelsesmedlem og en direktør i forening.

Company information based on CVR

NameRadisson Hotels Aps Danmark
Alternate namesAfrica Joint Venture Holding Aps, Hotel Scandinavia Aps, Rezidor Country Aps, Rezidor Hotel Investment Aps, Rezidor Hotel Investment France Aps, Rezidor Hotels Aps Danmark, Rezidor International Hotels Selection Aps, Rezidor Lifestyle Aps, Rezidor Park Aps, Rezidor Riga Hotel Aps, Rezidor Scandinavia Hotel Aps, Hotel Scandinavia A/S, Hotel Scandinavis A/S, Sas Scandinavia Hotel A/S, Sas Scandinavia Hotel Aps Show more
CVR73337712
AddressAmager Strandvej 60-64, 3, c/o Radisson Hotels Accounting Office - DK, 2300 København S
IndustryHotels [551010]
Established30-03-1983 (38 yr)
Company typeLimited Corporation (APS)
Number of employees47 (Fin.Stmt)
Advertising protectionNo
AuditorPricewaterhousecoopers Statsautoriseret Revisionspartnerselskab since 30-06-2017
Financial statement period01-01 to 31-12
Company capital212,000,000 DKK
210,000,000 DKK (10-01-1994 - 09-07-2009)
207,000,000 DKK (27-12-1993 - 09-01-1994)
200,000,000 DKK (25-01-1990 - 26-12-1993)
5,000,000 DKK (30-08-1987 - 24-01-1990)
Articles of assoc. last28-06-2018

Member of industries

Purpose

Selskabets formål er at drive hotelvirksomhed og dermed beslægtede virksomhedsformer

Financial Statement

 202020192018
Currency/unit000' DKK000' DKK000' DKK
Revenue
607,653
-62%
1,613,433
-1%
1,637,652
+4%
Gross Profit
-174,943
-
60,215
+47%
40,996
-39%
Profit for the year
-1,324,695
-
335,224
+1,903%
16,735
-61%
Equity
2,993,111
-20%
3,720,846
+10%
3,386,916
+0%
Total Assets
5,621,362
+23%
4,559,866
+11%
4,093,315
+5%

Mangement review

Particular risksThe key risk management objectives of Radisson Hotels ApS Danmark can be summarised as follows: • Ensure that the risks and benefits of new investments and contingent liabilities are in line with the financial objectives of the Radisson Group. • Reduce cyclical risks through brand diversity, geographic representation and by ensuring a mix of leased, managed and franchised hotels. • Review and assess the insurance programmes of the Radisson Group on an ongoing basis. • Carefully evaluate investments in high-risk areas to match these with premium returns on investments. Operating risks Radisson Hotels ApS Danmark is subject to the operating risks common to the hotel industry, including: • Changes in general economic conditions • Changes in travel patterns and demand • Cyclical over-supply of hotels • The financial position of third-party property owners and franchisees • Typical long-term leases and management contracts with guarantees ​• Impact by local legislation in connection with the COVID-19 outbreak Financial exposure Since the Company is financed through intercompany loans, the Company's risks from financing activities are limited. Currency exposure Exposure to foreign currency fluctuations is mainly related to fluctuations in USD in connection with the settlement of royalties to Carlson. Credit risks Credit risks related to financial assets equal the values recognised in the balance sheet. Credit risks Credit risks related to financial assets equal the values recognised in the balance sheet. Cash flow risks It is the policy of the Radisson Group that capital injections and placement of excess liquidity are managed centrally. At the same time, the Group has decided on objectives for liquidity reserves, such as excess cash and credit facilities, that are available to the Group at any time. Group credit facilities The company is dependent on credit facilities being made available by other group companies. These credit facilities are subject to reoccurring renewal.

Development in activities and financesLoss for the year amounts to DKK 1,324,695 thousand. Results for 2020 were in line with the expected outlook in 2019 if income (loss) from investment in group enterprises are not considered. These are held at cost and internal sales or restructuring therefore significantly impact the net result negatively. The result in 2020 is impacted severely by the COVID-19 pandemic. Radisson Hotels ApS Danmark and the remaining companies of the Radisson Group are – like many other companies – affected by the trends in the global economy. When observing the item income (loss) from investments in subsidiaries in the income statement, Management would like to emphasise that subsidiaries are recognised at cost and are written down to the lower of re-coverable amount and carrying amount. The majority of the fluctuation in the income (loss) from investments in subsidiaries results from the write-down of the capital contribution to group enterprises with negative equity. Management would like to emphasize that the equity in the parent company (Radisson Hospitality AB) is at EUR 1,5 Mio only. The value of equity reflected in this Annual report is driven by the fact that subsidiaries are recognized at the lower of cost or 0 ( depending on the directly owned subsidiaries equity values) while negative equity values in subsidiaries are not recognized at a lower value than 0 in the annual report of this company.
21-07-2021

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