Aarstiderne A/S

Revenue in 2023 totalled DKK 574.1 million (2022: DKK 663.0 million) and profit before tax totalled DKK 12.1 million (2022: DKK -42.9 million). Profit after tax totalled DKK 9.4 million (2022: DKK -34.7 million).The after tax profit for the year was DKK 44.1 million larger than in 2022.
The fiscal year 2023 has been a turnaround year for the Group. It has been a testament to the resilience and the dedication of the stakeholders, suppliers, and team to have accomplished this. Through rigorous cost management, operational streamlining and focus on core competences, the business is now back in black. The journey towards recovery has taken place in a highly competitive market and has been influenced by a series of external factors such as high inflation rate and interest. In combination with the cutbacks and resizing made in the business, the revenue has decreased.
However, the adjustments have been instrumental in improving our financial health and positioning us for sustainable growth.
In the 2022 annual report for the mother company, an expected net profit in the range of DKK 5 - 15 million before tax was expected for 2023. The Group’s result before tax for 2023 was DKK 12.1 million, of which the mother company accounts for DKK 10.6 million, and thus in line with the expectation.
In Q3 2023, the Executive Board and the Board of Directors have initiated a strategic process to ensure the development of the business and the continuous innovation in the business as the recovery continues into the fiscal year of 2024.
Conclusion
The Executive Board and the Board of Directors consider the Group's financial performance in the turnaround year of 2023 to be satisfactory.
Equity
Equity totalled DKK 27.8 million on 31 December 2023 (2022: DKK 18.8 million), corresponding to 18.8% (2022: 10.9%) of the balance sheet total.