Company type
Limited Corporation (APS)
1,140 MDKK
Gross profit
189 MDKK
Operating Profit (EBIT)
100 MDKK
Profit for the Year
181 MDKK

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Rank Profit for the Year

Rank in industry
"Top 10%"
Rank in Denmark
"Top 10%"

Top management Top 3

Board Top 3

Andrea Ruth Owen 1Chairman of board
Rolf Foged Hvidegaard Hay 4Boardmember
Mette Hjort Hay 4Boardmember

Legal owners Top 3

66.67-89.99%Herman Miller Holdings Limited
25-33.32%Holdingselskabet af 1/7 2007 Aps

Rights certificate

Selskabet tegnes af direktøren i forening med bestyrelsesformanden, af to bestyrelsesmedlemmer i forening eller af den samlede bestyrelse.

Company information based on CVR

NameHay Aps
Alternate namesBs Studio Aps, Hay Design Aps, Nine United Denmark Aps, Bs Studio A/S, Hay A/S, Hay Design A/S, Nine United Denmark A/S Show more
AddressHavnen 1, 8700 Horsens
IndustryWholesale of furniture, carpets and lighting equipment [464700]
Established20-09-2002 (18 yr)
Company typeLimited Corporation (APS)
Number of employees100-199 (CVR)
Advertising protectionNo
AuditorPartner Revision. Statsautoriseretrevisionsaktieselskab since 20-09-2002
Financial statement period01-06 to 31-05
Company capital4,500,000 DKK
Articles of assoc. last15-05-2020


Selskabets formål er at drive virksomhed i ind- og udland inden for design og produktion af møbler, interiør og lys samt handel hermed og anden dermed i forbindelse stående virksomhed.

Financial Statement

Currency/unit000' DKK000' DKK000' DKK
Gross Profit
Profit for the Year
Total Assets

Mangement review

The Group's principal activities
The Group's principal activities are the design and sale of furniture, lighting and interior products within Denmark and abroad.

Development in activities and financial matters
The Group's Income Statement of the financial year shows a result of t.DKK 73.456. The development is satisfactory and follows the expectations stated last year.

The decline in profit compared to last year is due to last year's result being positively impacted by the extraordinary sale of licenses for a total amount of t.DKK 44.959.

This year's revenue contains t.DKK 54.615 from licensing markets, where the group's profit only consists of a licensing fee.

Particular risks
Beyond ordinary occurring risks, no particular risks are considered to affect the Group.

Currency risks
Activities abroad cause revenue, cash flows and equity to be affected by the exchange and interest rate fluctuations for a number of currencies. It is the Group's policy to hedge commercial currency risks. The hedging takes place primarily through currency transactions to hedge expected purchases and sales within the next 12 months. There are no speculative currency transactions.

Environmental issues
The Group recognises that its actions have an environmental impact and take its responsibility seriously for contributing towards a better environment.

Research and development activities
Besides the ordinary development of furniture and accessories and development of the Group's IT-platform, there are no research and development activities in the Group.

Expectations for the future
In 2019/20 Group revenue will be affected by the licensing of Revenue in North America. Adjusting for this the comparable growth in Group Revenue is expected to be between 1 % and 10 % for the coming year. EBITDA margin is expected to be between 8 % and 11 %

Post financial year events
Subsequent to the financial year end no events have occurred which would substantially change the financial position of the Group.

Statutory report on the underrepresented gender
The Group is governed by the rules on targets and policies for the gender composition of management, cf. §99b of the Danish Financial Statement Act.

The Group aims to be a tolerant workplace without discrimination of any kind. Employees are hired only based on their skills and experience. Gender, religious belief, age, nationality or other such factors are not considered to be relevant for recruitment.

The target for the underrepresented gender in the Board of Directors is a minimum of 40 % by the year 2023. That target is currently not achieved, and specific attention will be given to candidates belonging to the underrepresented gender, when changes to the Board are made. The Board will follow up on the implementation of its target on a yearly basis.

On the other management levels, the Group has an equal gender distribution.

Statutory report on corporate social responsibility
The Group is actively working to contribute to a sustainable and environmentally conscious community. The Group aims towards it and its employees having a positive influence not only on the local and national community, but also on an international level.

Locally the Group is involved in first-aid courses for its employees and donations of surplus products to charity organisations for people without a home.

The Group encourages suppliers to meet the same high standards that the Group itself represent, in order to ensure that all production is carried out by people under decent working conditions. To safeguard these principles, the Group aim to work with ISO-certified companies. The majority of the Groups furniture production is located in Europe.

The company also continuously supports non-profit organisations, for example through contributions to the NineUnited-Fond and its charitable works including help to vulnerable children, human development programs, fighting decease and cultural and nature preservation. This work is done locally as well as internationally.

Statutory report on human rights
The Group supports and respects human rights. It is the Group's policy to strive to ensure that human rights are always respected both in relation to employees and business partners.

A part of this is making an effort in creating a sound and safe working environment for all employees in all countries, which the company does. It goes for both the physical and psychological environment. This is demonstrated not only by the natural compliance to legislation on the area but is also reflected in the company's handbook for employees.

In relation to suppliers and business partners we expect that they all consider human rights to be important and that they all do business with a general high moral standard. A natural consequence of the Group's policy is to stop all collaboration with entities about which the Group has become aware, that human rights are not being treated respectfully.

Statutory report on climate
The Group aims continuously for contributing towards a greener future environment. The Group is trying to minimise the impact on the World's climate on several levels. Both by increasing the use of materials coming from sustainable sources, by working with suppliers that live up to the Code of Conduct, by minimising the numbers of chemicals used in production and by developing durable and long-lasting products of a high quality.

As an example, the group was FSC certified in May 2019. FSC guarantees that the wood does not come from illegal forestry but from sustainable forestry. No more trees are being cut down than the forest can naturally replace while at the same time protecting the animals, the inhabitants of the forest and the forest workers. The Group is currently working on increasing the number of FSC certified products and are aiming for 100% FSC certified wood furniture. Also, the Group is aiming towards only using Chrome 3 when electroplating furniture and the Group does not use PVC in any production of furniture.

The Group strongly believes that corruption in all parts of the World is unacceptable. Thus the Group will not take part in partnerships or projects about which the Group has become aware of any corruption, or where the Group assesses that a high risk of corruption is present. The Group has not identified any past situations in which the Group has been involved in corruption.