Company type
Limited Corporation
Gross profit
Operating Profit (EBIT)
Profit for the Year
113 MDKK

More financial key figures and analyses?

In Bisbase Premium you get more financial key figures for both companies, groups and industries plus access to exclusive industries complied by experts. You can also create your own analyses! It only takes a minute or so - and it's free!

Rank Profit for the Year

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

Top management Top 3

Board Top 3

Michael Egede Budtz 7Chairman of board
Niels Ebbe Dalsgaard 9Boardmember
Koichi Okamura 1Boardmember

Legal owners Top 3

100%Okamura Foods Co. Ltd.

Rights certificate

Selskabet tegnes af bestyrelsens formand i forening med en direktør eller af den samlede bestyrelse.

Company information based on CVR

NameMusholm A/S
Alternate namesMusholm Lax A/S Show more
AddressStrandvejen 101, Reersø, 4281 Gørlev
IndustryProcessing and preserving of fish, crustaceans and molluscs except fishmeal [102020]
Established12-07-1984 (36 yr)
Company typeLimited Corporation
Number of employees20-49 (CVR)
Advertising protectionNo
AuditorRedmark, Statsautoriseret Revisionspartnerselskab since 26-02-2007
Financial statement period01-04 to 31-03
Bank connectionSpar Nord
Company capital714,000 DKK
588,000 DKK (27-03-2003 - 30-12-2005)
500,000 DKK (31-05-1994 - 26-03-2003)
300,000 DKK (30-08-1987 - 30-05-1994)
Articles of assoc. last26-08-2014

Member of industries


Selskabets formål er at drive virksomhed med fiskeopdræt og handel med fiskeprodukter, samt al virksomhed som efter bestyrelsens skøn er beslægtet hermed.

Financial Statement

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

Mangement review

The principal activities of the group
Musholm A/S is an aquaculture company - farming, processing and selling trout and trout roe. The aquaculture activities are carried out at smolt stations in Jutland and sea farms in the Great Belt. The processing activities are taking place at factories in Reersoe and Korsoer. Furthermore, the company is trading fish products from other Danish and foreign producers. Approx. 70% of the annual turnover came from export sales primarily to markets in Western and Eastern Europe and Southeast Asia.

Development in activities and financial matters
Musholm A/S
The warm seawater temperatures during the 2018 summer period resulted in a smaller production of trout on the sea farms compared to previous years. The global market for salmon and roe was characterized by good prices and strong demand through the whole year. Inventory is much bigger compared to previous year due to change in sales contracts and delivery terms.

The positive annual result for the Musholm group of approx. 23 mill. dkk after tax must be characterized as very satisfactory.

The company group has realized a better result than outlined in the budget for 2018/2019 and in line with the forecasted result for 2018/19.

The group has during this period investments of approx. 9 mill. dkk to improve production, quality and environment on the mussel farm, smolt stations, sea farms and factories in order to develop an economically and environmentally sustainable production of trout with ASC-certification according to the WWF- standards for environment and quality for responsible aquaculture were made. Furthermore, Musholm A/S has contributed with counseling and purchasing of material for developing of smolt station and sea farm in Japan.

Loejstrup Dambrug A/S
Loejstrup Dambrug A/S is a subsidiary company of Musholm A/S and produces mainly trout eggs, juveniles and smolt to the mother company on several hatcheries and smolt stations. The production of smolt was also influenced by the warm summer weather. Loejstrup Dambrug A/S has realized a result of approx. 1 mill. dkk after tax which must be characterized as satisfactory.

General risks
The company group’s risks can generally be divided into 4 categories that relate to aquaculture, processing, commercial and political conditions.
Aquaculture Aquaculture with farming of trout at hatchery, smolt stations and sea farm contains varying risks. Among the most significant challenges are disease, extreme weather conditions, breakdown of machinery, natural flora and fauna, biological conditions (growth, genetics, breeding, feed quality) and physical damages. These risks are all fundamental conditions in aquaculture and prevention of them are a part of the daily operations. Damages and losses can be partly covered by insurance agreements.

Processing Processing involves risks related to quality at the same level as other food producers. To cover these risks work is being done with food safety, traceability and HACCP-procedures in the processing and the risks can to some extent be covered with insurances for product responsibility.

Commercial risks Exports sales of trout and roe is, among other things, challenged by debtor – and currency risks, technical trade barriers, price dumping of salmon and trout from foreign producers and changing international market conditions. Debtors can be credit insured and currency positions can be hedged with forward exchange transactions.

Political risks Political risks include the especially restrictive Danish environmental regulations, which increase the cost level and limit the possibilities for development compared with competing producers in Europe, protectionism on foreign markets and negative media campaigns about salmon and aquaculture.

The expected development
Musholm A/S
A positive result is expected for the coming production year 2019/2020 with good demand for sea farmed trout and trout roe.

Loejstrup Dambrug A/S
A positive result is expected for the coming production year 2019/2020.

Events subsequent to the financial year
No events materially affecting the assessment of the annual report have occurred after the balance sheet day.