Standbyco Viii Aps (Koncern)

Development in the yearIn 2022/23, the Group generated a profit before tax of DKK -33,3 million compared to a profit of DKK 32,9 million in 2021/22.The 2021/22 result before tax was particularly affected by the net profit from the sale of Envidan AS (Momentum solutions) in Norway.The result for 2022/23 is affected by the acquisition of VA Consult (5 month) in Norway and Bangsgaard & Paludan (1 month) in Denmark and by costs related to the transactions and strategic one-off cost. By June 30, 2023 VA Consult and Envidan AS in Norway were merged.In 2022/23 the Group for the first time reached a revenue over DKK 500 million based on both organic and acquisitive growth. The operating result were negative at DKK 6,0 million but adjusted for amortization and depreciation the EBITDA result was positive at DKK 15,6 million and cash flow from operating activities was positive at DKK 12,3 million.The last 2 years organic growth and growth from mergers and acquisitions have for a period reduced the profitability which is not satisfying. The strategy has been to get a strong footprint in Denmark, Norway and Sweden which has been succeeded through mergers and acquisitions and is and investment for the future.Reference is made to the balance sheet, income statement and notes to the Financial Statements from which the information required to assess the Company’s financial position and the results of the operations for the year appears.According to Management’s Review for the financial year 2021/22, revenue was expected to increase by 10-15% and EBITDA to decrease by approximately 20% for the year excluding mergers and acquisitions. Organic revenue increased by 3.1% and organic EBITDA was 53,8% lower than in 2021/22.