Carpenter Aps

Financial instruments The Company's risk exposure The Group applies raw materials which due to considerable price fluctuations characterising the market for these raw materials imply a particular risk as price increases might not be fully reflected in the price of the finished goods. Apart from that, Management's assessment is that the Group is not exposed to any particular risks apart from those generally occurring in this line of business. Apart from the currency risk related to cash at bank, the Company’s currency risk is limited. The vast part of the acquisition of raw materials, etc. from abroad and the sale of finished goods to foreign countries in foreign currencies are settled in Euro, which is deemed to pose only a limited currency risk. As interest-bearing debt didnot make up a significant amount during the financial year, a change in the interest level will not have any significant direct effect on earnings.

The Company's income statement for 2022 shows a profit of DKK 16,476 thousand as against DKK 21,864 thousand in 2021. Equity in the Company's balance sheet at 31 December 2022 stood at DKK 118,173 thousand as against DKK 116,697 thousand at 31 December 2021. From an overall perspective, 2022 results were positive, however, slightly lower than forecasted.