Company Type
Limited Corporation
Established
1981
Size
Large
Employees
897
Revenue
1,556 MDKK
Gross profit
137 MDKK
Operating Profit (EBIT)
27 MDKK
Profit for the Year
102 MDKK
Equity
1,011 MDKK
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Rank Profit for the Year

Rank in industry
2/363
"Top 10%"
Rank in Denmark
1,155/301,097
"Top 10%"

Top management Top 3

Board Top 3

Laura Josefina Zapata y Oscoz 1Chairman of board
Isaias Zapata Moran 1Vice chairman
Flemming Jakobsen 1Boardmember

Legal owners Top 3

100%Controladora Envases Universales de España, S.L.U.

Rights certificate

Selskabet tegnes af (i) formanden for bestyrelsen, (ii) næstformanden for bestyrelsen, (iii) hele bestyrelsen i forening, eller (iv) Isaias Za-pata Moran eller Carlos V. Silva Jimenez, i forening med en direktør.

Company information based on CVR

NameEnvases Europe A/S
Alternate namesA/S Autolit Reproduktionsanstalt, Aktieselskabet Carl Lunds Fabriker, Dansk Blikemballage Fabrik A/S, G & M Haustrup A/S, G & M Hjallerup A/S, G & M Skive A/S, G&M Media Packaging International A/S, Glud & Marstrand A/S, Glud & Marstrand Invest A/S, Gluma Holding A/S, Hüttel Emballage, Brdr. Hüttel A/S, Løsning Emballage Fabrik A/S, Nordisk Blikemballage A/S Show more
CVR67287118
AddressHedenstedvej 14, 8723 Løsning
IndustryManufacture of light metal packaging [259200]
Established05-10-1981 (39 yr)
Company TypeLimited Corporation
Number of employees897 (Fin.Stmt)
Advertising protectionNo
AuditorDeloitte Statsautoriseret Revisionspartnerselskab since 14-10-2011
Financial statement period01-01 to 31-12
Company capital175,000,000 DKK
100,000,000 DKK (30-06-1989 - 21-04-1994)
50,000,000 DKK (30-08-1987 - 29-06-1989)
Articles of assoc. last13-01-2020

Member of industries

Purpose

Selskabets formål er i ind- og udland at udøve virksom- hed bestående i industri og handel, teknisk og kommer- ciel rådgivning, transport, investeringer i førnævnte aktiviteter, samt at udøve anden virksomhed, der efter bestyrelsens skøn står i forbindelse hermed

Financial Statement

 201820172016
Currency/unit000' DKK000' DKK000' DKK
Revenue
1,556,031
-6%
1,660,667
+7%
1,552,598
0%
Gross Profit
136,945
-29%
192,660
+15%
166,908
-8%
Profit for the Year
101,814
-6%
108,390
+13%
96,313
+51%
Equity
1,010,661
+13%
894,213
+13%
794,341
+13%
Total Assets
1,534,494
+1%
1,512,581
+8%
1,398,589
+0%

Mangement review

Primary activitiesThe Group’s primary activity is to manufacture and sell decorated metal packaging. Glud & Marstrand pro-ducts are mainly used in the production of foodstuffs, food products and beverages.Glud & Marstrand products are marketed globally, with the Danish market being the base market, and the Group employs 992 staff in total. We refer to our homepage, www.glud-marstrand.com, for further information about our organisation. A chart of the Group’s legal entities is provided on page 7. Please note that the subsidiaries, G&M MediaPackaging A/S and G&M Media Packaging Inc., manufacture and sell metal packaging for the media industry, with production facilities being located in Hjallerup, Denmark, and Bryant, Ohio, USA, respectively.Development in activities and financesThe Glud & Marstrand Group’s revenue for 2018 comes to DKK 1,778m against DKK 1,857m for 2017, and income for the year is DKK 102m against last year’s DKK 108m.With a decrease in revenue of DKK 105m and a decrease in income before interest of DKK35m, the development in the parent for 2018 has not been satisfactory.Metal packaging for the media business has exceeded our expectations for 2018 and our Joint Venture in Korea has seen a steady development close to last year level. For the Group as a whole, earnings development is considered satisfactory.Closure of subsidiary in ChinaThe Group’s subsidiary in China (Hebei G&M Ltd.) has been under closure since 2015. At present the company still owns the productionbuilding in China where the Company's activities have been located. The building is recognised at the estimated sales price at 31.12.2018, and provisions are made for estimated selling costs. Moreover, provisions have been made for other estimated costs until expected liquidation of the Company.As last year the subsidiary Hebei G&M Ltd. is considered a discontinuing activity. Merger within the groupWith effect from 1 January 2018, the Group decided to merge the companies G&M Media Packaging International A/S, Glud & Marstrand Invest A/S, Gluma Holding A/S and Glud & Marstrand A/S, with Glud & Marstrand A/S as the surviving company. The merger was carried out using the uniting-of-interests method, for which reason the comparative figures for 2017 have been restated in the annual report. At the merger, in the annual report Glud & Marstrand A/S was provided net assets of DKK 11 million at 1 January 2017 from companies higher up in the former group structure, and its equity was increased from DKK 794 million to DKK 806 million at 1 January 2017. The performance in 2017 of the Glud & Marstrand A/S Group was negatively affected by DKK 98 thousand in connection with the merger. Glud & Marstrand A/S is now the Ultimate Parent of the Group in Denmark. InvestmentsInvestments for the year total DKK 82m and total ongoing investments are DKK 65m at year-end.Particular risksFinancial risksDue to its international activities, the Glud & Marstrand Group is affected by exchange rate fluctuations relating to certain currencies. The Group aims to hedge commercial currency risks. The Group’s interest-bearing net debt is primarily financed by floating rate on loans with short-term maturity and fixed rates on loans with long-term maturity.The Group’s granting of credit when selling goods involves a risk, which the Group seeks to reduce through effective management and credit insurance.Intellectual capital resourcesResearch and developmentThe Group is focusing on strengthening its position by selling quality products in selected markets. Such efforts will be made continuously, being an important element of the strategy plan adopted.With a Technology department the Group has access to the resources of the competence centre which carries out research and development activities. In the financial year, costs incurred for these activities amount to DKK 8,3m. These activities are not deemed to be entitled to capitalisation.OutlookOn February 6th 2019 Glud & Marstrand A/S acquired 100% of the shares in Pack2Pack Halsteren B.V with business address in Holland. As the Glud & Marstrand group Pack2Pack Halsteren B.V. is also doing business within the metal packaging industry. The group expects a steady growth for 2019, and considering the acquisition the group is expected to increase both revenue and earnings by 15-25% for 2019 compared to 2018.
20-05-2019

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