Company type
Limited Corporation
Established
2014
Size
Medium
Employees
85
Revenue
- DKK
Gross profit
83 MDKK
Operating Profit (EBIT)
15 MDKK
Profit for the Year
11 MDKK
Equity
187 MDKK
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Rank Profit for the Year

Rank in industry
2/5
"Around avg"
Rank in Denmark
8,028/301,365
"Top 10%"

Top management Top 3

Board Top 3

Nicholas Ian Challoner 1Chairman of board
Freek Franciscus Snieders 1Boardmember
Peter Holm Tygesen 2Boardmember

Legal owners Top 3

100%Croda Europe Limited

Rights certificate

Selskabet tegnes af en direktør eller af et bestyrelsesmedlem eller af den samlede bestyrelse

Company information based on CVR

NameCroda Denmark A/S
Alternate namesSuperfos Biosector A/S Show more
CVR36058714
AddressElsenbakken 23, 3600 Frederikssund
IndustryManufacture of other inorganic basic chemicals [201300]
Established01-08-2014 (6 yr)
Company typeLimited Corporation
Number of employees85 (Fin.Stmt)
Advertising protectionNo
AuditorPricewaterhousecoopers Statsautoriseret Revisionspartnerselskab since 01-08-2014
Financial statement period01-01 to 31-12
Company capital500,000 DKK
Articles of assoc. last22-01-2019

Purpose

Selskabets formål er at drive fabrikation af og handel med biologiske produkter samt forskning og rådgivning i forbindelse hermed, og desuden anden hermed i forbindelse stående virksomhed.

Financial Statement

 201820172016
Currency/unit000' DKK000' DKK000' DKK
Revenue
-
-
-
-
-
-
Gross Profit
82,648
+1%
82,081
-33%
122,409
+69%
Profit for the Year
11,312
-2%
11,596
-74%
45,017
+123%
Equity
186,743
+18%
158,413
+1%
157,237
+40%
Total Assets
348,777
+3%
339,390
+67%
203,497
+48%

Mangement review

Key activities
The Company's activity consists of the production and sale of adjuvants.

Sales are mainly effected to countries outside the EU.
Development in the year
The income statement of the Company for 2018 shows a profit of TDKK 11,312, and at 31 December 2018 the balance sheet of the Company shows equity of TDKK 186,743.
The financial year 2018 has been very strong for Croda Denmark A/S. Especially Quil-A sales exceeded the expectations. The realized sales of Quil-A has been the strongest in the Company's history. Sales were up by approx. 100% from 2017 to 2018.

The Aluminium adjuvant sales did also show a strong performance in 2018 over 2017.

The result for the year 2018 shows a slightly increase compared to 2017, which we find satisfactory.
Croda Group bought the Company from Brenntag Group on December 28th, 2018. In connection with this Croda Group has decided to give a Group contribution to Croda Denmark A/S, which has been recognized in equity.
Expectations for 2019
There is some uncertainty as to the sales in 2019. The sales process in 2018 has most likely led some customers to increase inventories on their end in order to take out uncertainty. This will likely affect 2019 sales. At this point in time, it is difficult to estimate the effects on 2019 sales. In 2019 we expect to have a slightly increased cost level, partly due to the transition into Croda Group and partly due to cost increase as consequence of investment projects in new centrifuges, ozonation equipment and others.

NanoQuil development is continuing successfully. We are currently on track to complete the first license agreement on a NanoQuil project in 2019.

We are upscaling AdjuPhos ZP in Q1 2019, and have the first order in place when manufactured.

QS-21 is on track to be upscaled to GMP and we expect to continue our introduction of QS-21 into the market in 2019.
Special risks - operating risks and financial risks
Operating risks
The Company produces and sells goods, and the risk is related to Company's production capacity.
Market risks
The Company is currently subject to the competition and market situation - including customer expectations to the future and thus the demand for products offered by the Company.
Credit risks
The Company's credit risks relate exclusively to our customers. Internal control systems in the form of tight credit control and application of external credit information imply that the Company is not subject to any material risks posed by individual customers or business partners, and historically the Company has not realized any major bad debts.
Strategy and objectives
Strategy
The Company's strategy is to develop our core business, i.e. aluminum-based adjuvants, through an everstronger connection with our customer base in terms of delivering products and expertise to the customers. In addition, we will continuosly expand our current production capacity to reflect the growth in the adjuvant market. Lastly, it is a strategic decision to work purposefully to expand our product portfolio through the development, and launch, of new and innovative adjuvants.
External environment
Croda is continuously working on limiting our impact on the external environment surrounding our warehouses and factories in accordance with the current rules.

The Croda Group furthermore places a numbers of requirements on the Company´s management of the external environment.
Uncertainty relating to recognition and measurement
Recognition and measurement in the Annual Report have not been subject to any uncertainty.
Subsequent events
No events materially affecting the assessment of the Annual Report have occurred after the balance sheet date.
25-02-2019

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