Saria Denmark Aps

Development in activities and financial mattersProfit for the year, including non-controlling shareholders' share of the results in subsidiaries amounts to DKK 16,313 thousand derived from revenue of DKK 1,313,837 thousand.Operating profit amounted to DKK 17,748 thousand in 2022 compared to DKK 171,149 thousand last year resulting from a gross profit of DKK 160,251 thousand compared to DKK 316,554 thousand in 2021. The decrease is attributable to high fluctuations in prices of finished goods as well as raw material prices and reduced margins on especially biodiesel. Increasing energy cost also affected production cost in all business units lowering the operating profit.The development has resulted in a profit of the year below expected level. Management does not consider the profit for the year satisfactory.Of the profit for the year, no dividends are proposed to the shareholders, and DKK 6,858 thousand is taken to equity as retained earnings.The Company's equity totals DKK 23,434 thousand, including proposed dividends, corresponding to 14.4% of the balance sheet total, 22.7% at group level.Along with other major companies within the food industry, the subsidiary Daka Denmark A/S was during 2022 listed as a non-protected gas consumer. Initiatives has been taken to reduce long-term dependency on gas.RisksThough being exposed to price fluctuations on input cost as well as finished goods prices, the Group has not undertaken any particular commercial risks other than those considered usual for the nature and size of the Group.