Hveiti Ingredients Aps

Beskrivelse af virksomhedens væsentligste aktiviteter

The purpose of the company
The company's purpose is to establish the first biorefinery in Denmark.
Primary activities
The company's primary activity relates to establishing and financing the establishment of a biorefinery for production of wheat starch (glucose), gluten protein and wheat bran, in addition to a residual product, which is used for the production of biogas.

Beskrivelse af usikkerhed ved indregning eller måling

The Company's project is currently under development. Meaning, the project does not yet have all permits etc. in place to build and operate. Management expects that all permits are granted.
Reference is made to note 2 for more details.

Beskrivelse af udviklingen i virksomhedens aktiviteter og økonomiske forhold

The income statement for 2024 shows a profit of DKK 106 thousand against a profit of DKK 137 thousand last year, and the balance sheet at 31 December 2024 shows a negative equity of DKK 56 thousand.
The company has lost more than 50% of the share capital and is thus subject to the capital loss provisions of the Danish Companies Act.
The management expects to re-establish the share capital through future operations and/or capital contributions.
The result for the year is in line with managements expectations as the Company is still in the projectphase.
Capital ratio
The Company's project is currently under development and will require additional funding to complete the project and for working capital when it enters production. The company is continuously receiving funding from its parent Company. The financing is provided as the need arises, which is why the company has not received a binding commitment on the financing of the entire project or secured external financing thereof on the balance sheet date.
The Company's shareholders are expected to continue to provide the Company with the capital required for the continued operations in the coming financial year 2025. The financial statements have thus been prepared on a going concern basis.

Omtale af betydningsfulde hændelser, som er indtruffet efter regnskabsårets afslutning

No events materially affecting the Company's financial position have occurred subsequent to the financial year-end, but the management is now working to establish supplementary funding for the project phase including detailed engineering. Hveiti Ingredients is planning a collaboration with Nykredit Bank Corporate Finance setting up the total founding structure.