Lightera Denmark Aps

Ledelsesberetning

Seen over a five-year period, the development of the Company is described by the following financial highlights: The figures for 2021/22 have been updated due to the change of accounting policy for right of use assets in the financial year 2023/24. The comparison figures for the financial years 2020/21 and previous years have not been changed. Financial Statements of OFS Fitel Denmark ApS for 2023/24 has been prepared in accordance with the provisions of the Danish Financial Statements Act applying to large enterprises of reporting class C. Development in the year The income statement of the company for 2023/24 shows a profit of 158.0 mDKK, and as of 31 March 2024 the balance sheet of the company shows equity of 443.6 mDKK. The past year and follow-up on development expectations from last year The financial statements show a profit of 158.0 mDKK, which is considered being satisfying. Special risks – operating risks and financial risks Foreign exchange risks Most of the revenue in the company is in foreign currency, and especially the FX rate in USD has an impact on sales and earnings DKK. This risk is primarily offset by making purchases in USD, however not eliminating the currency risk entirely. Targets and expectations for the year ahead The revenue for 2024/25 is expected to be in line with current year. We have seen a light market for specialty fiber, whereas Ocean transmission fiber is expected to be at the same level as last year. Over all operating result is expected to be in line with current year. Research and development Research and development activities are primarily focused on product and process development within the Company’s existing product areas. Efforts are being made to improve existing products and develop new products to maintain or grow our market position. Projects are in many cases carried out in cooperation with other OFS and Furukawa companies as well as various universities. Intellectual capital resources The Vision of the company is: To become the most trusted and innovative provider of fiber optic solutions, inspiring employees, and customers to transform the way the world communicates, works, and lives. The Company has a global leading position with respect to both delivery time/ability and product quality. This obviously means that it is important to retain qualified and innovative employees. The Company has succeeded in maintaining the critical knowledge of the Company and keeping the turnover of staff at a lower level. Uncertainty relating to recognition and measurement Recognition and measurement in the Annual Report have not been subject to any uncertainty. Unusual events The financial position on 31 March, 2024 of the Company and the results of the activities of the Company for the financial year for 2023/24 have not been affected by any unusual events. Subsequent events No events materially affecting the assessment of the Annual Report occurred after the balance sheet date.

Beskrivelse af virksomhedens væsentligste aktiviteter

Key activities The objects for which the Company is established are to develop, produce and market high technology products within the fields of telecommunication and data transfer, and carry on all such other business activities as the board of directors deems to the attainment of such objects.