Dhrad Aps

Development in activities and financial position




The Company's income statement for the year ended 31 December 2018 shows a net profit of DKK 648.820 thousand, and the balance sheet at 31 December 2018 shows equity of DKK 8.414.587 thousand. In 2018, the Company sold 300.010 shares in Beckman Finance ApS, 8.639 shares in Kavo Finance ApS, 237.473 shares in DH Netherlands BV and 125 shares in AB Sciex ApS to another group entity. The sale price of DKK 7.146.313 thousand was determined by use of Danaher's fair market value approach. The gain of DKK 767.082 thousand has been recognized in the income statement under other financial income. The gain has been determined based on the sale price subtracted by the average cost price of the shares sold. Further, a group entity, Radcue Holding AB assumed the Company's debt to Kavo Finance ApS in the amount of DKK 3.627 million and Kavo Dental Finance ApS in the amount of EUR 99.860 million, in total DKK 4.371.394 thousand, in the form of a tax-free contribution to the Company without the issuance of shares. The Company also increased its debt with Radiometer Medical ApS, as an additional loan was taken out in the amount of DKK 2.175 thousand. In the 2017 annual report, management expressed an expected profit for 2018 at same level as in 2017 (profit of DKK 584.863 thousand). The realised profit for 2018, was in comparison to the prior years expressed expectations, impacted by the gain from sales of equity interest in associated enterprises and reduced interests expenses on payables to group enterprises due to existing debt to certain group entities being assumed by another group entity as well as loan repayments during the year. The Board of Executives recommends distribution of the profit as stated under distribution of profit.