Faxe Kalk A/S

Beskrivelse af virksomhedens væsentligste aktiviteter

Business review
The company is primarily engaged in the quarrying, manufacture, sale and distribution of limestone based products. Limestone is extracted from its quarry at Faxe Kalkbrud for sale as agricultural limestone. Limestone is also used for the manufacturing of milled limestone at its plant in Faxe Ladeplads. In addition, quicklime is reprocessed at the company's plants in Faxe and Vejle, Denmark. There have not been any significant changes in the company's main activities in the year. The director are not aware, at the date of this report, of any likely major changes in the company's activities in the next year.

Beskrivelse af usikkerhed ved indregning eller måling

Recognition and measurement uncertainties
It is recognized that measurement of raw materials and semi processed materials is inherently difficult in a quarry environment. The directors are confident that adequate controls are in place to avoid overvaluing such inventories.

Beskrivelse af usædvanlige forhold, der kan have påvirket indregningen eller målingen

Unusual matters
The company's financial position at 31 December 2024, and the results of its operations and cash flows for the financial year ended 31 December 2024, are not affected by any unusual matters except for a provision for Plant removal in Vejle of TDKK 5,000 and a once off sales of balance sheet contingent assets of TDKK 30,400.

Beskrivelse af udviklingen i virksomhedens aktiviteter og økonomiske forhold

Financial review
The company's income statement for the year ended 31 December 2024 shows a profit of TDKK 40,380, and the balance sheet at 31 December 2024 shows equity of TDKK 93,063.
The result for 2024 was higher than 2023. The sales of primary product areas quicklime, milled limestone and crushed limestone were satisfactory.
Total quicklime sales were at a lower level than 2023. the decrease is due to a negative development in flue gas Treatment as Powerplants returned to Biomass rather than Coal as fuel.
The Market for milled limestone is at a higher level than 2023. The increase is due to a positive market development in most segments in 2024.
The market for crushed minerals primarily for agriculture is stable since 2023. We see a positive development in Aggregates.
The cash flow in the year was influenced by the payment of dividend of DKK 11,000,000 to the shareholders.

Beskrivelse af virksomhedens forventede udvikling

Operating risk
2025 is operationally started at a higher level than 2024, however it is expected the financial result for the year will be lower than 2024 due to once off sales of contingent asset in 2024.
Cash flows for 2025 will be affected by the distribution of dividend to the Company’s owners.
The Board of directors recommends the general meeting to distribute dividend of DKK 33,000,000 to the shareholders.

Beskrivelse af virksomhedens forventede udvikling, herunder særlige forudsætninger og usikre faktorer, som ledelsen har lagt til grund for beskrivelsen

Specific prerequisites for assessment of the expected development of the company
The Company continues to seek new applications and markets for the Lhoist Group products.
Given the relatively low storage capacity for finished goods in bulk, the Company is dependent on a regular and stable output from the production units, for which reason constant efforts are made to minimize the risk of unforeseen breakdowns by enhancing the efficiency of preventive maintenance.
Faxe Kalk is included in the national allocation plan governing CO2 quotas. Since the Company emits a relatively high amount of CO2, which is due to special process emissions and high combustion, the size of the quota allocated in total is of major operating importance.
Faxe Kalk is sensitive to energy market developments. The Company consumes large volumes of energy for production purposes.
Uncertainties associated with the expected development of the company
Faxe Kalk has a long term loan from CFC Finance S.A. which is a Lhoist Group company.