Agri Consult Aps

LedelsesberetningLedelsesberetningUncertainty relating to recognition and measurement (continued), Management’s reviewManagement’s reviewMeasurement of PD Kútniky (continued)The subsidiary, AgroKorn s.r.o., owns equity interests in the Slovakian cooperative, PD Kútniky.The cooperative has some special equity instruments called DPL loans, which are particular to Slovakian cooperatives. Due to the very little practice existing in Slovakia in this area, the local position on these DPL loans is very uncertain. In principle, they constitute a right to a share of future distributions of dividend, without these DPL loans carrying any voting rights. There is no legal clarity as to whether or not the DPL loans are senior to the members of the cooperative in the event of liquidation or bankruptcy. DPL loans are traded in the open market to a limited degree, but at very low prices. It is the general view that DPL loans do not have any fair value.Based on this, AgroKorn s.r.o.’s equity interests in the cooperative have been determined allowing for the DPL loans, and as a result only on the basis of the nominal share of the capital base, which is 99% (2021: 99%). Consequently, the minority interests’ share of the profit/loss for the year and equity has been calculated at 1% (2021: 1%).

Udviklingen i aktiviteter og økonomiske forholdAktiviteterne for regnskabsåret har været planteavl samt import og opdræt af polte.Årets resultat har været påvirket af turbulente priser på både input og outputNettoresultatet for regnskabsåret var 0,4 mio. EUR mod 0,6 mio. EUR sidste år. Ledelsen vurderer resultatet som tilfredsstillende., Financial reviewThe activities for the financial year comprised the cultivation of plants and import and breeding of porkers.Profit for the year was affected by turbulent prices on input as well as on output.Net results of operation totalled EUR 0.4 million against EUR 0.6 million last year. Management considers the profit for the year satisfactory.