Assets
| Type | Time | Amount | Unit |
|---|
Revenue
| Type | Start date | End date | Amount | Unit |
|---|
XML
See the xml submitted here:
XML: INVALID
Separator
The full data:
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<mrv:StatementOfTargetFiguresAndPoliciesForTheUnderrepresentedGender contextRef="ctx1" xml:lang="en"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">DIVERSITY</td></tr><tr><td colspan="1">SimCorp aims to promote diversity, which includes achieving a reasonable representation of both genders at Board and management level. This goal is based on a wish to strengthen the versatility and total competences of the business and to improve decision-making processes.</td></tr><tr><td colspan="1">SimCorpâs approach to diversity is described in SimCorpâs Diversity Policy, which is included in SimCorpâs Corporate Governance Guidelines and its Diversity Activity Plan, www.simcorp.com/corpgov2017 and www.simcorp.com/diversity2016</td></tr><tr><td colspan="1">Regarding gender diversity on the Board of Directors, the company has set as a target to have at least two directors (corresponding to one third) of the underrepresented gender elected by the general meeting. This target will be realized through the recruitment of new Board members. In the most recent recruitment process, candidates of both genders were represented, and Mr. Adam Warby was assessed to be the strongest candidate in terms of matching the business challenges SimCorp is currently facing. Consequently, as of the Annual General Meeting 2017, it is still the case that one of the six directors elected by the general meeting is of the underrepresented gender, which means that SimCorp has not yet reached the target figure.</td></tr><tr><td colspan="1">It is SimCorpâs objective to increase the proportion of women in SimCorpâs total management team, so that it reflects the total proportion of female employees in the SimCorp Group.</td></tr><tr><td colspan="1">Activities conducted in 2016 to increase the proportion of women in managerial positions have focused on maturing a female mentoring program initiated in 2015. The program is targeted at female employees with manager potential. Nine female employees were selected for participation in the program and they were all assigned a mentor from SimCorpâs Group Management Committee. One of the participants in the program already stepped into a managerial position in 2015, and two more participants have become managers in 2016.</td></tr><tr><td colspan="1">The aim of the program is to support the building of a pipeline of potential female leaders, which over time will help increase the number of women at total management team level in SimCorp. The program has received positive feedback, and we will further develop the program in 2017.</td></tr><tr><td colspan="1">At the end of 2016, the total management team comprises 72.1% (2015: 74.2%) men and 27.9% (2015: 25.8%) women.</td></tr></table></mrv:StatementOfTargetFiguresAndPoliciesForTheUnderrepresentedGender>
<mrv:StatementOfCorporateSocialResponsibility contextRef="ctx1" xml:lang="en"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">CORPORATE SOCIAL RESPONSIBILITY</td></tr><tr><td colspan="1">Corporate Social Responsibility in SimCorp is firmly based on the Groupâs core values and âCorporate Governance Guidelinesâ as adopted by the Board of Directors. SimCorpâs commitment to sustainable development of the company is based on combining financial performance with socially responsible behavior and environmental awareness.</td></tr><tr><td colspan="1">SimCorp does not have an explicit, separate CSR policy, but its âGuidelines for Good Business Behaviorâ and âCSR statementâ combined include policies for employees, ethics, suppliers, the environment, stakeholder engagement, governance, anti-bribery and corruption that aim to maintain and enhance its professional and commercial relations with internal and external stakeholders based on mutual respect.</td></tr><tr><td colspan="1">SimCorp works to inform and educate its employees to enable them to carry out their tasks with integrity and in accordance with the guidelines and core values of SimCorp.</td></tr><tr><td colspan="1">SimCorp maintains high standards when it comes to confidentiality and protection of personal data. This is ensured through compliance with technical data security standards and education of the employees in how to handle data in accordance with legislative requirements and confidentiality.</td></tr><tr><td colspan="1">With regard to the environment, SimCorp undertakes initiatives to promote greater responsibility and to increase the use of environmental friendly technologies, when it comes to especially electricity, heat-related energy, and CO2. As examples, the travel activity of SimCorp employees has to some extent been replaced by video conferences.</td></tr><tr><td colspan="1">SimCorp promotes human rights in terms of health and safety in the workplace and the well-being of its employees. Fitness activities, a wide range of social activities, and improved work procedures and practices are promoted and supported by SimCorp.</td></tr><tr><td colspan="1">The companyâs approach to CSR is described in more detail on the companyâs website www. simcorp.com/csr2016</td></tr></table></mrv:StatementOfCorporateSocialResponsibility>
<mrv:CorporateGovernanceReport contextRef="ctx1" xml:lang="en"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">CORPORATE GOVERNANCE</td></tr><tr><td colspan="1">SimCorpâs Board of Directors has reviewed and discussed each of the recommendations for corporate governance issued by Nasdaq Copenhagen and has concluded that, with a few exceptions, SimCorp is in full compliance with the recommendations regarding the way the company is governed as well as the interaction between the companyâs managerial bodies, its shareholders, and other stakeholders.</td></tr><tr><td colspan="1">SimCorpâs Corporate Governance Guidelines are intended to ensure an efficient and adequate management of SimCorp within the framework defined by applicable legislation, rules, and recommendations for listed companies in Denmark and by SimCorpâs articles of association, mission, corporate vision, and values.</td></tr><tr><td colspan="1">SIMCORPâS STAKEHOLDER RELATIONSHIPS</td></tr><tr><td colspan="1">SimCorpâs overall management objective is to promote the long-term interests of the company, and thus of all stakeholders. This objective assumes that SimCorp establishes lasting and constructive relationships with the Groupâs primary stakeholders: shareholders, clients, business partners, employees, and suppliers.</td></tr><tr><td colspan="1">THE WORK OF THE BOARD OF DIRECTORS AND EXECUTIVE MANAGEMENT BOARD</td></tr><tr><td colspan="1">The Board of Directors is a collective body for promoting the long-term interests of the company. The Board of Directors is responsible for ensuring that the overall strategic management and the financial and managerial control of the Group are conducted adequately. Thus, the Board of Directors acts as a sparring partner to the Executive Management Board in relation to strategic initiatives and monitors the Groupâs financial condition, risk management, and business activities on an ongoing basis.</td></tr><tr><td colspan="1">SimCorp complies with the Corporate Governance Recommendations issued by Nasdaq Copenhagen with the following exception</td></tr><tr><td colspan="1">In the specific matter of remuneration committees, SimCorp has decided not to comply with the Corporate Governance Recommendations issued by Nasdaq Copenhagen due to the limited complexity of its business.</td></tr><tr><td colspan="1">SimCorpâs remuneration guidelines clearly states SimCorpâs remuneration principles and procedures. Remuneration matters are considered by the full Board of Directors and a remuneration committee is considered as adding unnecessary cost and complexity.</td></tr><tr><td colspan="1">Targets and performance against these are disclosed in detail as part of the annual report on a retrospective basis. The mix between fixed salary and short-term incentive and long-term incentive programs for executive directors is in line with levels generally suggested and accepted within both Danish and international corporate governance guidelines.</td></tr><tr><td colspan="1">SimCorp complies with international corporate governance guidelines with the following exception</td></tr><tr><td colspan="1">Under international corporate governance guidelines, any board member serving more than nine years is not regarded as independent. SimCorpâs Chairman of the Board of Directors, Mr. Jesper Brandgaard, has served nine years. Being a Danish company following Danish corporate governance guidelines, Mr. Brandgaard is regarded as independent until he has served 12 years.</td></tr><tr><td colspan="1">Composition and qualifications of the Board of Directors</td></tr><tr><td colspan="1">The Board of Directors is constituted to ensure its independence, adequate collective competences, and experiences within executive management disciplines related to global corporations, information technology, and business-to-business sales of software, and to hold sufficient members to enable an appropriate distribution of tasks and an effective decision-making process. As provided in the companyâs articles of association,</td></tr><tr><td colspan="1">SimCorpâs Board of Directors consists of between three and six members elected by the companyâs shareholders in addition to members elected by and among the companyâs employees. To further strengthen the collective competences of the Board, SimCorp will at the Annual General Meeting 2017 nominate Adam Warby, currently CEO at Avanade, to replace Franck Cohen, who left the Board in May 2016. At the beginning of 2016, SimCorpâs employees elected three employee Board members. Accordingly, following the Annual General Meeting 2017, the Board will consist of six members elected by the shareholders and three members elected by employees.</td></tr><tr><td colspan="1">Independent members of SimCorpâs Board of Directors are elected for one year at a time and employee-elected members for three-year terms.</td></tr><tr><td colspan="1">Self-assessment</td></tr><tr><td colspan="1">The Board of Directors carries out an annual self-assessment. In 2016, the process was facilitated by a third party, Odgers Berndtson, and comprised an evaluation of the work and contribution of the Executive Management Board, the Board of Directors, and the Audit Committee within the areas of strategy, finance, risk management, sales, organization, management, and operations.</td></tr><tr><td colspan="1">Based on the self-assessment, it was concluded that the Boardâs collective work is effective. The Board also concluded that in order to ensure its competences within business- to-business sales of software, it would be looking for a candidate who possesses skills and experiences within this area. With the addition of Adam Warby, as a Board member, the Board of Directors believes it has the appropriate competencies.</td></tr><tr><td colspan="1">Risk management</td></tr><tr><td colspan="1">The Board of Directors has the overall responsibility for ensuring that SimCorp maintains appropriate procedures to monitor, measure, and manage the companyâs risks and that such procedures are firmly embedded in the companyâs organization. As part of its risk management, the Executive Management Board and the Board have defined and described the most critical risks to SimCorp and the related mitigating actions. A more detailed description of risks and mitigating actions is provided in the section âRisk Managementâ, pp 19-22.</td></tr><tr><td colspan="1">Further, the company has established a whistleblower body, authorized by the Danish Data Protection Agency, which, in addition to usual control functions, is intended to provide access to reporting on suspected irregularities in the business. An independent member of SimCorpâs Board of Directors, Simon Jeffreys, has been appointed as administrator of the whistleblower policy and to act as gatekeeper in respect of the whistleblower account. Contact information: simon.jeffreys@aon.co.uk or phone: +44 7831 690 999.</td></tr><tr><td colspan="1">NOMINATION COMMITTEEE</td></tr><tr><td colspan="1">In 2017, SimCorp intends to form a Nomination Committee. This committee will assist the Board with oversight of the competence profile and composition of the Board, nomination of members and committees, and other tasks on ad hoc basis as decided by the Board.</td></tr><tr><td colspan="1">AUDIT COMMITTEE</td></tr><tr><td colspan="1">The Audit Committee is responsible for assisting the Board of Directors by monitoring SimCorpâs financial reporting, its financial internal control and financial risks, as well as the effectiveness and independence of the external audit for the SimCorp Group of companies. The Audit Committee consists of three members elected by the Board on a one-year term by and among the Board of Directors. The Audit Committee meets as often as it and its Chairman deem necessary, however, at a minimum, the Committee will meet four times a year at appropriate times in the reporting and audit cycle. In 2016, four meetings were held.</td></tr><tr><td colspan="1">Pursuant to the Danish Law and Corporate Governance guidelines, the majority of the members of the Committee should qualify as independent and the committee should possess the necessary financial expertise. The members of the Audit Committee are: Simon Jeffreys (Chairman â independent), Patricia McDonald (Member â independent), and Else Braathen (Member â employee-elected).</td></tr><tr><td colspan="1">For further information, see www.simcorp. com/corpgov2017 for a full description of the Audit Committeeâs activities.</td></tr><tr><td colspan="1">External auditor â tasks, objectivity, and independence</td></tr><tr><td colspan="1">The Audit Committee reviews and monitors the companyâs ongoing relations with the external auditors and the independence of the external auditors. Based on recommendations from the Audit Committee and the external auditors, the Board of Directors decides whether there are areas to which the external auditors should pay special attention in given periods.</td></tr><tr><td colspan="1">During the year, the Audit Committee has been informed about the external auditorâs policies and procedures for safeguarding its objectivity and independence, and the audit partners and firm rotation requirements have been routinely observed. During the year, the Committee has approved audit-related and non-audit related service fees.</td></tr><tr><td colspan="1">Other ongoing activities</td></tr><tr><td colspan="1">As part of its annual wheel activities, the Audit Committee reviews SimCorpâs accounting policies, compliance with reporting requirements, risk policy and assessment, internal controls, whistleblower policy, insurance principles, and interim reports. It has been agreed to do deep-dives into specific topics as appropriate.</td></tr><tr><td colspan="1">Assessment</td></tr><tr><td colspan="1">During 2016, the SimCorp Audit Committee has not observed any issues of audit independence, or material risk in any of the areas it monitors for the Board of Directors.</td></tr></table></mrv:CorporateGovernanceReport>
<sob:StatementByExecutiveAndSupervisoryBoards contextRef="ctx1" xml:lang="en"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">STATEMENT BY THE BOARD OF DIRECTORS AND THE EXECUTIVE MANAGEMENT BOARD</td></tr></table></sob:StatementByExecutiveAndSupervisoryBoards>
<sob:IdentificationOfApprovedAnnualReport contextRef="ctx1" xml:lang="en"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">The Board of Directors and the Executive Management Board have today considered and approved the annual report for 2016 of SimCorp A/S.</td></tr></table></sob:IdentificationOfApprovedAnnualReport>
<sob:ConfirmationThatAnnualReportIsPresentedInAccordanceWithRequirementsProvidedForByLegislationAnyStandardsAndRequirementsProvidedByArticlesOfAssociationOrByAgreement contextRef="ctx1" xml:lang="en"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">The annual report has been prepared in accordance with the International Financial Reporting Standards as adopted by the EU and further requirements according to the Danish Financial Statements Acts.</td></tr></table></sob:ConfirmationThatAnnualReportIsPresentedInAccordanceWithRequirementsProvidedForByLegislationAnyStandardsAndRequirementsProvidedByArticlesOfAssociationOrByAgreement>
<sob:ConfirmationThatFinancialStatementGivesTrueAndFairViewOfAssetsLiabilitiesEquityFinancialPositionAndResults contextRef="ctx1" xml:lang="en"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">In our opinion, the consolidated financial statements and the parent company financial statements give a true and fair view of the Groupâs and the parent companyâs assets, liabilities and financial position as of 31 December 2016 and of the results of the parent companyâs and the Groupâs operations and cash flows for the financial year 1 January to 31 December 2016.</td></tr></table></sob:ConfirmationThatFinancialStatementGivesTrueAndFairViewOfAssetsLiabilitiesEquityFinancialPositionAndResults>
<sob:ManagementsStatementAboutManagementsReview contextRef="ctx1" xml:lang="en"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">In our opinion the Management report gives a true and fair view of developments in the activities and financial position of the Group and the parent company, the results for the year and the financial position of the Group and the parent company, as well as a description of the significant risk and uncertainty factors that may affect the Group and the parent company.</td></tr></table></sob:ManagementsStatementAboutManagementsReview>
<sob:RecommendationForApprovalOfAnnualReportByGeneralMeeting contextRef="ctx1" xml:lang="en"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">We recommend that the annual report be adopted by the shareholders at the annual general meeting.</td></tr></table></sob:RecommendationForApprovalOfAnnualReportByGeneralMeeting>
<sob:PlaceOfSignatureOfStatement contextRef="ctx1" xml:lang="en">Copenhagen</sob:PlaceOfSignatureOfStatement>
<sob:DateOfApprovalOfAnnualReport contextRef="ctx1">2017-02-24</sob:DateOfApprovalOfAnnualReport>
<arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements contextRef="ctx1" xml:lang="en"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">To the shareholders of SimCorp A/S</td></tr></table></arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements>
<arr:AuditorsReportOnAuditedFinancialStatements contextRef="ctx1" xml:lang="en"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">INDEPENDENT AUDITORâS REPORT</td></tr></table></arr:AuditorsReportOnAuditedFinancialStatements>
<arr:OpinionOnAuditedFinancialStatements contextRef="ctx1" xml:lang="en"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Our opinion</td></tr><tr><td colspan="1">In our opinion, the consolidated financial statements and the parent company financial statements give a true and fair view of the Groupâs and the parent companyâs financial position at 31 December 2016 and of the results of the Groupâs and parent companyâs operations and cash flows for the financial year 1 January to 31 December 2016 in accordance with International Financial Reporting Standards as adopted by the EU and further requirements in the Danish Financial Statements Act.</td></tr><tr><td colspan="1">What we have audited</td></tr><tr><td colspan="1">SimCorpâs consolidated financial statements and the parent company financial statements for the financial year 1 January to 31 December 2016, comprise income statement, statement of comprehensive income, balance sheet, statement of changes in equity, cashflow statement and notes to the financial statements, including summary of significant accounting policies for the Group as well as for the Parent Company Collectively referred to as the âfinancial statementsâ.</td></tr></table></arr:OpinionOnAuditedFinancialStatements>
<arr:DescriptionOfQualificationsOfAuditedFinancialStatements contextRef="ctx1" xml:lang="en"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Basis for opinion</td></tr><tr><td colspan="1">We conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the Auditorâs Responsibilities for the Audit of the Financial Statements section of our report.</td></tr><tr><td colspan="1">We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.</td></tr><tr><td colspan="1">Independence</td></tr><tr><td colspan="1">We are independent of the Group in accordance with International Ethics Standards Board for Accountantsâ Code of Ethics for Professional Accountants (IESBA Code) and the ethical requirements that are relevant to our audit of the financial statements in Denmark. We have also fulfilled our other ethical responsibilities in accordance with the IESBA Code.</td></tr></table></arr:DescriptionOfQualificationsOfAuditedFinancialStatements>
<arr:KeyAuditMattersAudit contextRef="ctx1" xml:lang="en"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="2">Key audit matters</td></tr><tr><td colspan="2">Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the financial statements for 2016. These matters were addressed in the context of our audit of the financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.</td></tr><tr><td>KEY AUDIT MATTER</td><td>HOW OUR AUDIT ADRESSED THE KEY AUDIT MATTER</td></tr><tr><td>Revenue recognition of license and maintenance revenue</td><td>We assessed the design and implementation of the controls over the Groupâs revenue cycle.</td></tr><tr><td>The Group and the parent company provide its products and services to clients in bundled packages as multi-element contracts, and recognition of revenue is subject to the inherent complexities in the software industry.</td><td>We tested relevant controls including applicable information systems and Managementâs review controls.</td></tr><tr><td>We focused on this area due to the judgmental and complex nature of revenue recognition for multiple element arrangements that include allocation of consideration with rebates, discounts and allowances to separate components of the contract. Further, we focused on inappropriate cut-off, deferral of revenue and revenue recognition for fixed fee projects due to the inherent estimation uncertainty of the percentage of completion.</td><td>For multi-element contracts, we obtained Managementâs allocation of revenue to the specific contract elements and assessed the fair value attributed to each element of the contracts including rebates, discounts and allowances.</td></tr><tr><td>Refer to note. 2.1 âRevenueâ, 2.2 âSegment and other revenue informationâ and 2.3 âFuture Revenueâ.</td><td>We assessed the percentage of completion on specific fixed fee projects based on Management reports, project estimates and interview of project managers. We also assessed the outcome of prior period estimates.</td></tr><tr><td /><td>For the new contract type where SimCorp acts as Application Service Provider (ASP), we discussed the revenue recognition of the contract elements with Management. We also evaluated whether SimCorp acts as principal or agent towards end-clients in the ASP contract set-up and recognizes revenue accordingly.</td></tr><tr><td>KEY AUDIT MATTER</td><td>HOW OUR AUDIT ADRESSED THE KEY AUDIT MATTER</td></tr><tr><td>Accounting for taxation</td><td>In understanding and evaluating Managementâs judgements, we considered the status of recent and current tax authority audits and enquiries, the outcome of previous claims, judgemental positions taken in tax returns and current year estimates and developments in the tax environment.</td></tr><tr><td>The Group operates in a complex multinational tax environment and there are open tax and transfer pricing cases with domestic and foreign tax authorities.</td><td>In addition, we used our own local and international tax specialists, evaluated the adequacy of Managementâs key assumptions and read correspondence with tax authorities to assess the valuation of tax assets and liabilities.</td></tr><tr><td colspan="2">We focused on this area as the amounts involved are potentially material and the valuation of tax assets and liabilities are associated with uncertainty and judgement.</td></tr><tr><td colspan="2">Refer to note 3.1 âIncome taxâ, 3.2 âDeferred taxâ and 3.3 âIncome tax payableâ.</td></tr></table></arr:KeyAuditMattersAudit>
<arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements contextRef="ctx1" xml:lang="en"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Reporting on managementâs review</td></tr><tr><td colspan="1">Management is responsible for the Management Review.</td></tr><tr><td colspan="1">Our opinion on the financial statements does not cover the Management Review, and we do not express any form of assurance conclusion thereon.</td></tr><tr><td colspan="1">In connection with our audit of the financial statements, our responsibility is to read the Management Review and, in doing so, consider whether the Management Review is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated.</td></tr><tr><td colspan="1">Moreover, we considered whether the Management Review includes the disclosures required by the Danish Financial Statements Act.</td></tr><tr><td colspan="1">Based on the work we have performed, in our view, the Management Review is in accordance with the consolidated financial statements and the parent company financial statements and has been prepared in accordance with the requirements of the Danish Financial Statements Act. We did not identify any material misstatement in the Management Review.</td></tr></table></arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements>
<arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements contextRef="ctx1" xml:lang="en"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Managementâs responsibility for the financial statements</td></tr><tr><td colspan="1">Management is responsible for the preparation of consolidated financial statements and parent company financial statements that give a true and fair view in accordance with International Financial Reporting Standards as adopted by the EU and further requirements in the Danish Financial Statements Act for such internal control as Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.</td></tr><tr><td colspan="1">In preparing the financial statements, Management is responsible for assessing the Groupâs and parent companyâs ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless Management either intends to liquidate the Group or parent company, or to cease operations, or has no realistic alternative but to do so.</td></tr></table></arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements>
<arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed contextRef="ctx1" xml:lang="en"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Auditorâs responsibilities for the audit of the financial statements</td></tr><tr><td colspan="1">Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorâs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken based on these financial statements.</td></tr><tr><td colspan="1">As part of an audit in accordance with ISAs and additional applicable in Denmark, we exercise professional judgment and maintain professional skepticism throughout the audit. We also</td></tr><tr><td colspan="1">⢠Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.</td></tr><tr><td colspan="1">⢠Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Groupâs and the Companyâs internal control.</td></tr><tr><td colspan="1">⢠Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management.</td></tr><tr><td colspan="1">⢠Conclude on the appropriateness of Managementâs use of the going concern basis of accounting and based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Groupâs and the parent companyâs ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditorâs report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditorâs report. However, future events or conditions may cause the Group or the parent company to cease to continue as a going concern.</td></tr><tr><td colspan="1">⢠Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.</td></tr><tr><td colspan="1">⢠Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.</td></tr><tr><td colspan="1">We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.</td></tr><tr><td colspan="1">We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.</td></tr><tr><td colspan="1">From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditorâs report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.</td></tr></table></arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed>
<arr:SignatureOfAuditorsPlace contextRef="ctx1" xml:lang="en">Copenhagen</arr:SignatureOfAuditorsPlace>
<arr:SignatureOfAuditorsDate contextRef="ctx1">2017-02-24</arr:SignatureOfAuditorsDate>
<ifrs-full:Revenue contextRef="ctx1" unitRef="vEUR" decimals="-3">295930000</ifrs-full:Revenue>
<ifrs-full:CostOfSales contextRef="ctx1" unitRef="vEUR" decimals="-3">111773000</ifrs-full:CostOfSales>
<ifrs-full:GrossProfit contextRef="ctx1" unitRef="vEUR" decimals="-3">184157000</ifrs-full:GrossProfit>
<ifrs-full:OtherIncome contextRef="ctx1" unitRef="vEUR" decimals="-3">324000</ifrs-full:OtherIncome>
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<ifrs-dk:ProfitLossInAssociates contextRef="ctx1" unitRef="vEUR" decimals="-3">94000</ifrs-dk:ProfitLossInAssociates>
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<ifrs-full:FinanceCosts contextRef="ctx1" unitRef="vEUR" decimals="-3">3418000</ifrs-full:FinanceCosts>
<ifrs-full:ProfitLossBeforeTax contextRef="ctx1" unitRef="vEUR" decimals="-3">67593000</ifrs-full:ProfitLossBeforeTax>
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<ifrs-full:ProfitLoss contextRef="ctx1" unitRef="vEUR" decimals="-3">50992000</ifrs-full:ProfitLoss>
<ifrs-full:BasicEarningsLossPerShare contextRef="ctx1" unitRef="share" decimals="4">1.2800</ifrs-full:BasicEarningsLossPerShare>
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<ifrs-dk:IncomeTaxRelatingToDefinedBenefitPlansOfOtherComprehensiveIncome contextRef="ctx1" unitRef="vEUR" decimals="-3">-57000</ifrs-dk:IncomeTaxRelatingToDefinedBenefitPlansOfOtherComprehensiveIncome>
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<ifrs-full:ComprehensiveIncome contextRef="ctx1" unitRef="vEUR" decimals="-3">49261000</ifrs-full:ComprehensiveIncome>
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<ifrs-dk:AdjustmentsForDecreaseIncreaseInWorkingCapital contextRef="ctx1" unitRef="vEUR" decimals="-3">1997000</ifrs-dk:AdjustmentsForDecreaseIncreaseInWorkingCapital>
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<ifrs-full:InterestPaidClassifiedAsOperatingActivities contextRef="ctx1" unitRef="vEUR" decimals="-3">368000</ifrs-full:InterestPaidClassifiedAsOperatingActivities>
<ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities contextRef="ctx1" unitRef="vEUR" decimals="-3">13093000</ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities>
<ifrs-full:CashFlowsFromUsedInOperatingActivities contextRef="ctx1" unitRef="vEUR" decimals="-3">65418000</ifrs-full:CashFlowsFromUsedInOperatingActivities>
<ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities contextRef="ctx1" unitRef="vEUR" decimals="-3">0</ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities>
<ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities contextRef="ctx1" unitRef="vEUR" decimals="-3">1644000</ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities>
<ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities contextRef="ctx1" unitRef="vEUR" decimals="-3">2973000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities>
<ifrs-full:ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities contextRef="ctx1" unitRef="vEUR" decimals="-3">0</ifrs-full:ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities>
<ifrs-full:PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities contextRef="ctx1" unitRef="vEUR" decimals="-3">132000</ifrs-full:PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities>
<ifrs-dk:ProceedsFromSalesOfFinancialAssetsClassifiedAsInvestingActivities contextRef="ctx1" unitRef="vEUR" decimals="-3">349000</ifrs-dk:ProceedsFromSalesOfFinancialAssetsClassifiedAsInvestingActivities>
<ifrs-full:CashFlowsFromUsedInInvestingActivities contextRef="ctx1" unitRef="vEUR" decimals="-3">-4309000</ifrs-full:CashFlowsFromUsedInInvestingActivities>
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<ifrs-dk:EmployeeBonds contextRef="ctx1" unitRef="vEUR" decimals="-3">0</ifrs-dk:EmployeeBonds>
<ifrs-full:DividendsPaidClassifiedAsFinancingActivities contextRef="ctx1" unitRef="vEUR" decimals="-3">28450000</ifrs-full:DividendsPaidClassifiedAsFinancingActivities>
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<ifrs-full:IncreaseDecreaseInCashAndCashEquivalents contextRef="ctx1" unitRef="vEUR" decimals="-3">-11747000</ifrs-full:IncreaseDecreaseInCashAndCashEquivalents>
<ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents contextRef="ctx1" unitRef="vEUR" decimals="-3">-7000</ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents>
<gsd:InformationOnTypeOfSubmittedReport contextRef="ctx1">Ã
rsrapport</gsd:InformationOnTypeOfSubmittedReport>
<gsd:IdentificationNumberCvrOfSubmittingEnterprise contextRef="ctx1">33771231</gsd:IdentificationNumberCvrOfSubmittingEnterprise>
<gsd:NameOfSubmittingEnterprise contextRef="ctx1" xml:lang="en">PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab</gsd:NameOfSubmittingEnterprise>
<gsd:AddressOfSubmittingEnterpriseStreetAndNumber contextRef="ctx1" xml:lang="en">Strandvejen 44</gsd:AddressOfSubmittingEnterpriseStreetAndNumber>
<gsd:AddressOfSubmittingEnterprisePostcodeAndTown contextRef="ctx1" xml:lang="en">2900 Hellerup</gsd:AddressOfSubmittingEnterprisePostcodeAndTown>
<gsd:PrecedingReportingPeriodStartDate contextRef="ctx1">2015-01-01</gsd:PrecedingReportingPeriodStartDate>
<gsd:PredingReportingPeriodEndDate contextRef="ctx1">2015-12-31</gsd:PredingReportingPeriodEndDate>
<cmn:TypeOfAuditorAssistance contextRef="ctx1">Revisionspåtegning</cmn:TypeOfAuditorAssistance>
<cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx2" xml:lang="en">Klaus Holse</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
<cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx2" xml:lang="en">Chief Executive Officer</cmn:TitleOfMemberOfExecutiveBoard>
<cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx3" xml:lang="en">Georg Hetrodt</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
<cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx3" xml:lang="en">Chief Technology Officer</cmn:TitleOfMemberOfExecutiveBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx4" xml:lang="en">Jesper Brandgaard</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx4" xml:lang="en">Chairman</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx5" xml:lang="en">Peter Schütze</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx5" xml:lang="en">Vice-chairman</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx6" xml:lang="en">Hervé Couturier</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx7" xml:lang="en">Simon Jeffreys</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx8" xml:lang="en">Patricia McDonald</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx9" xml:lang="en">Vera Bergforth</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx10" xml:lang="en">Else Braathen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx11" xml:lang="en">Ulrik Elstrup Hansen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameOfAuditFirm contextRef="ctx12" xml:lang="en">PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab</cmn:NameOfAuditFirm>
<cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx12">33771231</cmn:IdentificationNumberCvrOfAuditFirm>
<cmn:NameAndSurnameOfAuditor contextRef="ctx12" xml:lang="en">Mikkel Sthyr</cmn:NameAndSurnameOfAuditor>
<cmn:DescriptionOfAuditor contextRef="ctx12" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
<cmn:NameAndSurnameOfAuditor contextRef="ctx13" xml:lang="en">Leif Ulbæk Jensen</cmn:NameAndSurnameOfAuditor>
<cmn:DescriptionOfAuditor contextRef="ctx13" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
<ifrs-full:Revenue contextRef="ctx14" unitRef="vEUR" decimals="-3">277927000</ifrs-full:Revenue>
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<ifrs-full:OtherIncome contextRef="ctx14" unitRef="vEUR" decimals="-3">492000</ifrs-full:OtherIncome>
<ifrs-full:ResearchAndDevelopmentExpense contextRef="ctx14" unitRef="vEUR" decimals="-3">53917000</ifrs-full:ResearchAndDevelopmentExpense>
<ifrs-dk:SalesCostAndDistributionsCosts contextRef="ctx14" unitRef="vEUR" decimals="-3">35337000</ifrs-dk:SalesCostAndDistributionsCosts>
<ifrs-full:AdministrativeExpense contextRef="ctx14" unitRef="vEUR" decimals="-3">18041000</ifrs-full:AdministrativeExpense>
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<ifrs-full:FinanceIncome contextRef="ctx14" unitRef="vEUR" decimals="-3">1796000</ifrs-full:FinanceIncome>
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<ifrs-full:ProfitLossBeforeTax contextRef="ctx14" unitRef="vEUR" decimals="-3">69100000</ifrs-full:ProfitLossBeforeTax>
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<ifrs-full:ProfitLoss contextRef="ctx14" unitRef="vEUR" decimals="-3">52584000</ifrs-full:ProfitLoss>
<ifrs-full:BasicEarningsLossPerShare contextRef="ctx14" unitRef="share" decimals="4">1.3100</ifrs-full:BasicEarningsLossPerShare>
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<ifrs-full:OtherComprehensiveIncome contextRef="ctx14" unitRef="vEUR" decimals="-3">1836000</ifrs-full:OtherComprehensiveIncome>
<ifrs-full:ComprehensiveIncome contextRef="ctx14" unitRef="vEUR" decimals="-3">54420000</ifrs-full:ComprehensiveIncome>
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<ifrs-full:InterestReceivedClassifiedAsOperatingActivities contextRef="ctx14" unitRef="vEUR" decimals="-3">63000</ifrs-full:InterestReceivedClassifiedAsOperatingActivities>
<ifrs-full:InterestPaidClassifiedAsOperatingActivities contextRef="ctx14" unitRef="vEUR" decimals="-3">387000</ifrs-full:InterestPaidClassifiedAsOperatingActivities>
<ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities contextRef="ctx14" unitRef="vEUR" decimals="-3">21174000</ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities>
<ifrs-full:CashFlowsFromUsedInOperatingActivities contextRef="ctx14" unitRef="vEUR" decimals="-3">54206000</ifrs-full:CashFlowsFromUsedInOperatingActivities>
<ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities contextRef="ctx14" unitRef="vEUR" decimals="-3">138000</ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities>
<ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities contextRef="ctx14" unitRef="vEUR" decimals="-3">277000</ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities>
<ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities contextRef="ctx14" unitRef="vEUR" decimals="-3">2029000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities>
<ifrs-full:ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities contextRef="ctx14" unitRef="vEUR" decimals="-3">32000</ifrs-full:ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities>
<ifrs-full:PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities contextRef="ctx14" unitRef="vEUR" decimals="-3">311000</ifrs-full:PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities>
<ifrs-dk:ProceedsFromSalesOfFinancialAssetsClassifiedAsInvestingActivities contextRef="ctx14" unitRef="vEUR" decimals="-3">88000</ifrs-dk:ProceedsFromSalesOfFinancialAssetsClassifiedAsInvestingActivities>
<ifrs-full:CashFlowsFromUsedInInvestingActivities contextRef="ctx14" unitRef="vEUR" decimals="-3">-2625000</ifrs-full:CashFlowsFromUsedInInvestingActivities>
<ifrs-dk:FreeCashFlowsFromUsedInOperatingInvestingActivities contextRef="ctx14" unitRef="vEUR" decimals="-3">51581000</ifrs-dk:FreeCashFlowsFromUsedInOperatingInvestingActivities>
<ifrs-dk:EmployeeBonds contextRef="ctx14" unitRef="vEUR" decimals="-3">744000</ifrs-dk:EmployeeBonds>
<ifrs-full:DividendsPaidClassifiedAsFinancingActivities contextRef="ctx14" unitRef="vEUR" decimals="-3">24457000</ifrs-full:DividendsPaidClassifiedAsFinancingActivities>
<ifrs-dk:PurchaseSaleOfTreasuryAssets contextRef="ctx14" unitRef="vEUR" decimals="-3">21221000</ifrs-dk:PurchaseSaleOfTreasuryAssets>
<ifrs-full:CashFlowsFromUsedInFinancingActivities contextRef="ctx14" unitRef="vEUR" decimals="-3">-46422000</ifrs-full:CashFlowsFromUsedInFinancingActivities>
<ifrs-full:IncreaseDecreaseInCashAndCashEquivalents contextRef="ctx14" unitRef="vEUR" decimals="-3">5159000</ifrs-full:IncreaseDecreaseInCashAndCashEquivalents>
<ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents contextRef="ctx14" unitRef="vEUR" decimals="-3">190000</ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents>
<ifrs-full:Revenue contextRef="ctx15" unitRef="vEUR" decimals="-3">151087000</ifrs-full:Revenue>
<ifrs-full:CostOfSales contextRef="ctx15" unitRef="vEUR" decimals="-3">43261000</ifrs-full:CostOfSales>
<ifrs-full:GrossProfit contextRef="ctx15" unitRef="vEUR" decimals="-3">107826000</ifrs-full:GrossProfit>
<ifrs-full:OtherIncome contextRef="ctx15" unitRef="vEUR" decimals="-3">22550000</ifrs-full:OtherIncome>
<ifrs-full:ResearchAndDevelopmentExpense contextRef="ctx15" unitRef="vEUR" decimals="-3">41835000</ifrs-full:ResearchAndDevelopmentExpense>
<ifrs-dk:SalesCostAndDistributionsCosts contextRef="ctx15" unitRef="vEUR" decimals="-3">12532000</ifrs-dk:SalesCostAndDistributionsCosts>
<ifrs-full:AdministrativeExpense contextRef="ctx15" unitRef="vEUR" decimals="-3">22181000</ifrs-full:AdministrativeExpense>
<ifrs-full:ProfitLossFromOperatingActivities contextRef="ctx15" unitRef="vEUR" decimals="-3">53828000</ifrs-full:ProfitLossFromOperatingActivities>
<ifrs-full:FinanceIncome contextRef="ctx15" unitRef="vEUR" decimals="-3">10305000</ifrs-full:FinanceIncome>
<ifrs-full:FinanceCosts contextRef="ctx15" unitRef="vEUR" decimals="-3">2635000</ifrs-full:FinanceCosts>
<ifrs-full:ProfitLossBeforeTax contextRef="ctx15" unitRef="vEUR" decimals="-3">61498000</ifrs-full:ProfitLossBeforeTax>
<ifrs-full:IncomeTaxExpenseContinuingOperations contextRef="ctx15" unitRef="vEUR" decimals="-3">12282000</ifrs-full:IncomeTaxExpenseContinuingOperations>
<ifrs-full:ProfitLoss contextRef="ctx15" unitRef="vEUR" decimals="-3">49216000</ifrs-full:ProfitLoss>
<ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax contextRef="ctx15" unitRef="vEUR" decimals="-3">400000</ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax>
<ifrs-full:OtherComprehensiveIncome contextRef="ctx15" unitRef="vEUR" decimals="-3">400000</ifrs-full:OtherComprehensiveIncome>
<ifrs-full:ComprehensiveIncome contextRef="ctx15" unitRef="vEUR" decimals="-3">49616000</ifrs-full:ComprehensiveIncome>
<ifrs-full:AdjustmentsForReconcileProfitLoss contextRef="ctx15" unitRef="vEUR" decimals="-3">11736000</ifrs-full:AdjustmentsForReconcileProfitLoss>
<ifrs-dk:AdjustmentsForDecreaseIncreaseInWorkingCapital contextRef="ctx15" unitRef="vEUR" decimals="-3">8049000</ifrs-dk:AdjustmentsForDecreaseIncreaseInWorkingCapital>
<ifrs-full:InterestReceivedClassifiedAsOperatingActivities contextRef="ctx15" unitRef="vEUR" decimals="-3">395000</ifrs-full:InterestReceivedClassifiedAsOperatingActivities>
<ifrs-full:InterestPaidClassifiedAsOperatingActivities contextRef="ctx15" unitRef="vEUR" decimals="-3">291000</ifrs-full:InterestPaidClassifiedAsOperatingActivities>
<ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities contextRef="ctx15" unitRef="vEUR" decimals="-3">11141000</ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities>
<ifrs-full:CashFlowsFromUsedInOperatingActivities contextRef="ctx15" unitRef="vEUR" decimals="-3">57964000</ifrs-full:CashFlowsFromUsedInOperatingActivities>
<ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities contextRef="ctx15" unitRef="vEUR" decimals="-3">0</ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities>
<ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities contextRef="ctx15" unitRef="vEUR" decimals="-3">1644000</ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities>
<ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities contextRef="ctx15" unitRef="vEUR" decimals="-3">346000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities>
<ifrs-full:ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities contextRef="ctx15" unitRef="vEUR" decimals="-3">0</ifrs-full:ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities>
<ifrs-full:PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities contextRef="ctx15" unitRef="vEUR" decimals="-3">27000</ifrs-full:PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities>
<ifrs-dk:ProceedsFromSalesOfFinancialAssetsClassifiedAsInvestingActivities contextRef="ctx15" unitRef="vEUR" decimals="-3">20000</ifrs-dk:ProceedsFromSalesOfFinancialAssetsClassifiedAsInvestingActivities>
<ifrs-full:CashFlowsFromUsedInInvestingActivities contextRef="ctx15" unitRef="vEUR" decimals="-3">6403000</ifrs-full:CashFlowsFromUsedInInvestingActivities>
<ifrs-dk:FreeCashFlowsFromUsedInOperatingInvestingActivities contextRef="ctx15" unitRef="vEUR" decimals="-3">64367000</ifrs-dk:FreeCashFlowsFromUsedInOperatingInvestingActivities>
<ifrs-dk:EmployeeBonds contextRef="ctx15" unitRef="vEUR" decimals="-3">0</ifrs-dk:EmployeeBonds>
<ifrs-full:DividendsPaidClassifiedAsFinancingActivities contextRef="ctx15" unitRef="vEUR" decimals="-3">28450000</ifrs-full:DividendsPaidClassifiedAsFinancingActivities>
<ifrs-dk:PurchaseSaleOfTreasuryAssets contextRef="ctx15" unitRef="vEUR" decimals="-3">44406000</ifrs-dk:PurchaseSaleOfTreasuryAssets>
<ifrs-full:CashFlowsFromUsedInFinancingActivities contextRef="ctx15" unitRef="vEUR" decimals="-3">-72856000</ifrs-full:CashFlowsFromUsedInFinancingActivities>
<ifrs-full:IncreaseDecreaseInCashAndCashEquivalents contextRef="ctx15" unitRef="vEUR" decimals="-3">-8489000</ifrs-full:IncreaseDecreaseInCashAndCashEquivalents>
<ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents contextRef="ctx15" unitRef="vEUR" decimals="-3">-107000</ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents>
<ifrs-full:Revenue contextRef="ctx16" unitRef="vEUR" decimals="-3">142519000</ifrs-full:Revenue>
<ifrs-full:CostOfSales contextRef="ctx16" unitRef="vEUR" decimals="-3">34277000</ifrs-full:CostOfSales>
<ifrs-full:GrossProfit contextRef="ctx16" unitRef="vEUR" decimals="-3">108242000</ifrs-full:GrossProfit>
<ifrs-full:OtherIncome contextRef="ctx16" unitRef="vEUR" decimals="-3">22309000</ifrs-full:OtherIncome>
<ifrs-full:ResearchAndDevelopmentExpense contextRef="ctx16" unitRef="vEUR" decimals="-3">43837000</ifrs-full:ResearchAndDevelopmentExpense>
<ifrs-dk:SalesCostAndDistributionsCosts contextRef="ctx16" unitRef="vEUR" decimals="-3">8756000</ifrs-dk:SalesCostAndDistributionsCosts>
<ifrs-full:AdministrativeExpense contextRef="ctx16" unitRef="vEUR" decimals="-3">18058000</ifrs-full:AdministrativeExpense>
<ifrs-full:ProfitLossFromOperatingActivities contextRef="ctx16" unitRef="vEUR" decimals="-3">59900000</ifrs-full:ProfitLossFromOperatingActivities>
<ifrs-full:FinanceIncome contextRef="ctx16" unitRef="vEUR" decimals="-3">24620000</ifrs-full:FinanceIncome>
<ifrs-full:FinanceCosts contextRef="ctx16" unitRef="vEUR" decimals="-3">3022000</ifrs-full:FinanceCosts>
<ifrs-full:ProfitLossBeforeTax contextRef="ctx16" unitRef="vEUR" decimals="-3">81498000</ifrs-full:ProfitLossBeforeTax>
<ifrs-full:IncomeTaxExpenseContinuingOperations contextRef="ctx16" unitRef="vEUR" decimals="-3">13153000</ifrs-full:IncomeTaxExpenseContinuingOperations>
<ifrs-full:ProfitLoss contextRef="ctx16" unitRef="vEUR" decimals="-3">68345000</ifrs-full:ProfitLoss>
<ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax contextRef="ctx16" unitRef="vEUR" decimals="-3">-168000</ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax>
<ifrs-full:OtherComprehensiveIncome contextRef="ctx16" unitRef="vEUR" decimals="-3">-168000</ifrs-full:OtherComprehensiveIncome>
<ifrs-full:ComprehensiveIncome contextRef="ctx16" unitRef="vEUR" decimals="-3">68177000</ifrs-full:ComprehensiveIncome>
<ifrs-full:AdjustmentsForReconcileProfitLoss contextRef="ctx16" unitRef="vEUR" decimals="-3">-1087000</ifrs-full:AdjustmentsForReconcileProfitLoss>
<ifrs-dk:AdjustmentsForDecreaseIncreaseInWorkingCapital contextRef="ctx16" unitRef="vEUR" decimals="-3">-27545000</ifrs-dk:AdjustmentsForDecreaseIncreaseInWorkingCapital>
<ifrs-full:InterestReceivedClassifiedAsOperatingActivities contextRef="ctx16" unitRef="vEUR" decimals="-3">146000</ifrs-full:InterestReceivedClassifiedAsOperatingActivities>
<ifrs-full:InterestPaidClassifiedAsOperatingActivities contextRef="ctx16" unitRef="vEUR" decimals="-3">293000</ifrs-full:InterestPaidClassifiedAsOperatingActivities>
<ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities contextRef="ctx16" unitRef="vEUR" decimals="-3">13316000</ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities>
<ifrs-full:CashFlowsFromUsedInOperatingActivities contextRef="ctx16" unitRef="vEUR" decimals="-3">26250000</ifrs-full:CashFlowsFromUsedInOperatingActivities>
<ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities contextRef="ctx16" unitRef="vEUR" decimals="-3">138000</ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities>
<ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities contextRef="ctx16" unitRef="vEUR" decimals="-3">277000</ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities>
<ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities contextRef="ctx16" unitRef="vEUR" decimals="-3">958000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities>
<ifrs-full:ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities contextRef="ctx16" unitRef="vEUR" decimals="-3">24000</ifrs-full:ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities>
<ifrs-full:PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities contextRef="ctx16" unitRef="vEUR" decimals="-3">24000</ifrs-full:PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities>
<ifrs-dk:ProceedsFromSalesOfFinancialAssetsClassifiedAsInvestingActivities contextRef="ctx16" unitRef="vEUR" decimals="-3">38000</ifrs-dk:ProceedsFromSalesOfFinancialAssetsClassifiedAsInvestingActivities>
<ifrs-full:CashFlowsFromUsedInInvestingActivities contextRef="ctx16" unitRef="vEUR" decimals="-3">21715000</ifrs-full:CashFlowsFromUsedInInvestingActivities>
<ifrs-dk:FreeCashFlowsFromUsedInOperatingInvestingActivities contextRef="ctx16" unitRef="vEUR" decimals="-3">47965000</ifrs-dk:FreeCashFlowsFromUsedInOperatingInvestingActivities>
<ifrs-dk:EmployeeBonds contextRef="ctx16" unitRef="vEUR" decimals="-3">744000</ifrs-dk:EmployeeBonds>
<ifrs-full:DividendsPaidClassifiedAsFinancingActivities contextRef="ctx16" unitRef="vEUR" decimals="-3">24457000</ifrs-full:DividendsPaidClassifiedAsFinancingActivities>
<ifrs-dk:PurchaseSaleOfTreasuryAssets contextRef="ctx16" unitRef="vEUR" decimals="-3">21221000</ifrs-dk:PurchaseSaleOfTreasuryAssets>
<ifrs-full:CashFlowsFromUsedInFinancingActivities contextRef="ctx16" unitRef="vEUR" decimals="-3">-46422000</ifrs-full:CashFlowsFromUsedInFinancingActivities>
<ifrs-full:IncreaseDecreaseInCashAndCashEquivalents contextRef="ctx16" unitRef="vEUR" decimals="-3">1543000</ifrs-full:IncreaseDecreaseInCashAndCashEquivalents>
<ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents contextRef="ctx16" unitRef="vEUR" decimals="-3">8000</ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents>
<ifrs-full:Goodwill contextRef="ctx17" unitRef="vEUR" decimals="-3">3976000</ifrs-full:Goodwill>
<ifrs-full:ComputerSoftware contextRef="ctx17" unitRef="vEUR" decimals="-3">4215000</ifrs-full:ComputerSoftware>
<ifrs-dk:CustomerRelationships contextRef="ctx17" unitRef="vEUR" decimals="-3">2804000</ifrs-dk:CustomerRelationships>
<ifrs-full:IntangibleAssetsAndGoodwill contextRef="ctx17" unitRef="vEUR" decimals="-3">10995000</ifrs-full:IntangibleAssetsAndGoodwill>
<ifrs-dk:LeaseholdImprovements contextRef="ctx17" unitRef="vEUR" decimals="-3">2446000</ifrs-dk:LeaseholdImprovements>
<ifrs-dk:Equipment contextRef="ctx17" unitRef="vEUR" decimals="-3">1179000</ifrs-dk:Equipment>
<ifrs-full:OtherPropertyPlantAndEquipment contextRef="ctx17" unitRef="vEUR" decimals="-3">1154000</ifrs-full:OtherPropertyPlantAndEquipment>
<ifrs-full:PropertyPlantAndEquipment contextRef="ctx17" unitRef="vEUR" decimals="-3">4779000</ifrs-full:PropertyPlantAndEquipment>
<ifrs-full:InvestmentsInAssociates contextRef="ctx17" unitRef="vEUR" decimals="-3">551000</ifrs-full:InvestmentsInAssociates>
<ifrs-dk:OtherNoncurrentReceivablesDeposits contextRef="ctx17" unitRef="vEUR" decimals="-3">1890000</ifrs-dk:OtherNoncurrentReceivablesDeposits>
<ifrs-full:DeferredTaxAssets contextRef="ctx17" unitRef="vEUR" decimals="-3">8534000</ifrs-full:DeferredTaxAssets>
<ifrs-full:NoncurrentAssets contextRef="ctx17" unitRef="vEUR" decimals="-3">26749000</ifrs-full:NoncurrentAssets>
<ifrs-full:CurrentTradeReceivables contextRef="ctx17" unitRef="vEUR" decimals="-3">80041000</ifrs-full:CurrentTradeReceivables>
<ifrs-full:CurrentTaxAssetsCurrent contextRef="ctx17" unitRef="vEUR" decimals="-3">1966000</ifrs-full:CurrentTaxAssetsCurrent>
<ifrs-full:CurrentPrepayments contextRef="ctx17" unitRef="vEUR" decimals="-3">6582000</ifrs-full:CurrentPrepayments>
<ifrs-full:CashAndCashEquivalents contextRef="ctx17" unitRef="vEUR" decimals="-3">31590000</ifrs-full:CashAndCashEquivalents>
<ifrs-full:CurrentAssets contextRef="ctx17" unitRef="vEUR" decimals="-3">120179000</ifrs-full:CurrentAssets>
<ifrs-full:Assets contextRef="ctx17" unitRef="vEUR" decimals="-3">146928000</ifrs-full:Assets>
<ifrs-full:IssuedCapital contextRef="ctx17" unitRef="vEUR" decimals="-3">5575000</ifrs-full:IssuedCapital>
<ifrs-full:ReserveOfChangeInValueOfForeignCurrencyBasisSpreads contextRef="ctx17" unitRef="vEUR" decimals="-3">-518000</ifrs-full:ReserveOfChangeInValueOfForeignCurrencyBasisSpreads>
<ifrs-full:RetainedEarnings contextRef="ctx17" unitRef="vEUR" decimals="-3">34173000</ifrs-full:RetainedEarnings>
<ifrs-dk:DividendAvailableForDistribution contextRef="ctx17" unitRef="vEUR" decimals="-3">33341000</ifrs-dk:DividendAvailableForDistribution>
<ifrs-full:Equity contextRef="ctx17" unitRef="vEUR" decimals="-3">72571000</ifrs-full:Equity>
<ifrs-full:DeferredTaxLiabilities contextRef="ctx17" unitRef="vEUR" decimals="-3">1149000</ifrs-full:DeferredTaxLiabilities>
<ifrs-full:NoncurrentProvisions contextRef="ctx17" unitRef="vEUR" decimals="-3">5573000</ifrs-full:NoncurrentProvisions>
<ifrs-full:OtherNoncurrentPayables contextRef="ctx17" unitRef="vEUR" decimals="-3">0</ifrs-full:OtherNoncurrentPayables>
<ifrs-full:NoncurrentLiabilities contextRef="ctx17" unitRef="vEUR" decimals="-3">6722000</ifrs-full:NoncurrentLiabilities>
<ifrs-dk:CurrentPrepaymentsFromCustomers contextRef="ctx17" unitRef="vEUR" decimals="-3">14647000</ifrs-dk:CurrentPrepaymentsFromCustomers>
<ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers contextRef="ctx17" unitRef="vEUR" decimals="-3">50922000</ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers>
<ifrs-full:CurrentTaxLiabilitiesCurrent contextRef="ctx17" unitRef="vEUR" decimals="-3">1946000</ifrs-full:CurrentTaxLiabilitiesCurrent>
<ifrs-full:CurrentProvisions contextRef="ctx17" unitRef="vEUR" decimals="-3">120000</ifrs-full:CurrentProvisions>
<ifrs-full:CurrentLiabilities contextRef="ctx17" unitRef="vEUR" decimals="-3">67635000</ifrs-full:CurrentLiabilities>
<ifrs-full:Liabilities contextRef="ctx17" unitRef="vEUR" decimals="-3">74357000</ifrs-full:Liabilities>
<ifrs-full:EquityAndLiabilities contextRef="ctx17" unitRef="vEUR" decimals="-3">146928000</ifrs-full:EquityAndLiabilities>
<ifrs-full:Goodwill contextRef="ctx18" unitRef="vEUR" decimals="-3">4579000</ifrs-full:Goodwill>
<ifrs-full:ComputerSoftware contextRef="ctx18" unitRef="vEUR" decimals="-3">3749000</ifrs-full:ComputerSoftware>
<ifrs-dk:CustomerRelationships contextRef="ctx18" unitRef="vEUR" decimals="-3">3442000</ifrs-dk:CustomerRelationships>
<ifrs-full:IntangibleAssetsAndGoodwill contextRef="ctx18" unitRef="vEUR" decimals="-3">11770000</ifrs-full:IntangibleAssetsAndGoodwill>
<ifrs-dk:LeaseholdImprovements contextRef="ctx18" unitRef="vEUR" decimals="-3">1700000</ifrs-dk:LeaseholdImprovements>
<ifrs-dk:Equipment contextRef="ctx18" unitRef="vEUR" decimals="-3">2383000</ifrs-dk:Equipment>
<ifrs-full:OtherPropertyPlantAndEquipment contextRef="ctx18" unitRef="vEUR" decimals="-3">250000</ifrs-full:OtherPropertyPlantAndEquipment>
<ifrs-full:PropertyPlantAndEquipment contextRef="ctx18" unitRef="vEUR" decimals="-3">4333000</ifrs-full:PropertyPlantAndEquipment>
<ifrs-full:InvestmentsInAssociates contextRef="ctx18" unitRef="vEUR" decimals="-3">628000</ifrs-full:InvestmentsInAssociates>
<ifrs-dk:OtherNoncurrentReceivablesDeposits contextRef="ctx18" unitRef="vEUR" decimals="-3">2102000</ifrs-dk:OtherNoncurrentReceivablesDeposits>
<ifrs-full:DeferredTaxAssets contextRef="ctx18" unitRef="vEUR" decimals="-3">9078000</ifrs-full:DeferredTaxAssets>
<ifrs-full:NoncurrentAssets contextRef="ctx18" unitRef="vEUR" decimals="-3">27911000</ifrs-full:NoncurrentAssets>
<ifrs-full:CurrentTradeReceivables contextRef="ctx18" unitRef="vEUR" decimals="-3">68144000</ifrs-full:CurrentTradeReceivables>
<ifrs-full:CurrentTaxAssetsCurrent contextRef="ctx18" unitRef="vEUR" decimals="-3">4276000</ifrs-full:CurrentTaxAssetsCurrent>
<ifrs-full:CurrentPrepayments contextRef="ctx18" unitRef="vEUR" decimals="-3">5854000</ifrs-full:CurrentPrepayments>
<ifrs-full:CashAndCashEquivalents contextRef="ctx18" unitRef="vEUR" decimals="-3">43344000</ifrs-full:CashAndCashEquivalents>
<ifrs-full:CurrentAssets contextRef="ctx18" unitRef="vEUR" decimals="-3">121618000</ifrs-full:CurrentAssets>
<ifrs-full:Assets contextRef="ctx18" unitRef="vEUR" decimals="-3">149529000</ifrs-full:Assets>
<ifrs-full:IssuedCapital contextRef="ctx18" unitRef="vEUR" decimals="-3">5575000</ifrs-full:IssuedCapital>
<ifrs-full:ReserveOfChangeInValueOfForeignCurrencyBasisSpreads contextRef="ctx18" unitRef="vEUR" decimals="-3">1011000</ifrs-full:ReserveOfChangeInValueOfForeignCurrencyBasisSpreads>
<ifrs-full:RetainedEarnings contextRef="ctx18" unitRef="vEUR" decimals="-3">54825000</ifrs-full:RetainedEarnings>
<ifrs-dk:DividendAvailableForDistribution contextRef="ctx18" unitRef="vEUR" decimals="-3">28409000</ifrs-dk:DividendAvailableForDistribution>
<ifrs-full:Equity contextRef="ctx18" unitRef="vEUR" decimals="-3">89820000</ifrs-full:Equity>
<ifrs-full:DeferredTaxLiabilities contextRef="ctx18" unitRef="vEUR" decimals="-3">973000</ifrs-full:DeferredTaxLiabilities>
<ifrs-full:NoncurrentProvisions contextRef="ctx18" unitRef="vEUR" decimals="-3">4687000</ifrs-full:NoncurrentProvisions>
<ifrs-full:OtherNoncurrentPayables contextRef="ctx18" unitRef="vEUR" decimals="-3">2343000</ifrs-full:OtherNoncurrentPayables>
<ifrs-full:NoncurrentLiabilities contextRef="ctx18" unitRef="vEUR" decimals="-3">8003000</ifrs-full:NoncurrentLiabilities>
<ifrs-dk:CurrentPrepaymentsFromCustomers contextRef="ctx18" unitRef="vEUR" decimals="-3">7678000</ifrs-dk:CurrentPrepaymentsFromCustomers>
<ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers contextRef="ctx18" unitRef="vEUR" decimals="-3">42215000</ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers>
<ifrs-full:CurrentTaxLiabilitiesCurrent contextRef="ctx18" unitRef="vEUR" decimals="-3">1810000</ifrs-full:CurrentTaxLiabilitiesCurrent>
<ifrs-full:CurrentProvisions contextRef="ctx18" unitRef="vEUR" decimals="-3">3000</ifrs-full:CurrentProvisions>
<ifrs-full:CurrentLiabilities contextRef="ctx18" unitRef="vEUR" decimals="-3">51706000</ifrs-full:CurrentLiabilities>
<ifrs-full:Liabilities contextRef="ctx18" unitRef="vEUR" decimals="-3">59709000</ifrs-full:Liabilities>
<ifrs-full:EquityAndLiabilities contextRef="ctx18" unitRef="vEUR" decimals="-3">149529000</ifrs-full:EquityAndLiabilities>
<ifrs-full:ComputerSoftware contextRef="ctx19" unitRef="vEUR" decimals="-3">1708000</ifrs-full:ComputerSoftware>
<ifrs-full:IntangibleAssetsAndGoodwill contextRef="ctx19" unitRef="vEUR" decimals="-3">1708000</ifrs-full:IntangibleAssetsAndGoodwill>
<ifrs-dk:LeaseholdImprovements contextRef="ctx19" unitRef="vEUR" decimals="-3">563000</ifrs-dk:LeaseholdImprovements>
<ifrs-dk:Equipment contextRef="ctx19" unitRef="vEUR" decimals="-3">914000</ifrs-dk:Equipment>
<ifrs-full:OtherPropertyPlantAndEquipment contextRef="ctx19" unitRef="vEUR" decimals="-3">15000</ifrs-full:OtherPropertyPlantAndEquipment>
<ifrs-full:PropertyPlantAndEquipment contextRef="ctx19" unitRef="vEUR" decimals="-3">1492000</ifrs-full:PropertyPlantAndEquipment>
<ifrs-full:InvestmentsInSubsidiaries contextRef="ctx19" unitRef="vEUR" decimals="-3">36996000</ifrs-full:InvestmentsInSubsidiaries>
<ifrs-full:InvestmentsInAssociates contextRef="ctx19" unitRef="vEUR" decimals="-3">162000</ifrs-full:InvestmentsInAssociates>
<ifrs-dk:OtherNoncurrentReceivablesDeposits contextRef="ctx19" unitRef="vEUR" decimals="-3">1555000</ifrs-dk:OtherNoncurrentReceivablesDeposits>
<ifrs-full:DeferredTaxAssets contextRef="ctx19" unitRef="vEUR" decimals="-3">2455000</ifrs-full:DeferredTaxAssets>
<ifrs-full:NoncurrentAssets contextRef="ctx19" unitRef="vEUR" decimals="-3">44368000</ifrs-full:NoncurrentAssets>
<ifrs-full:CurrentTradeReceivables contextRef="ctx19" unitRef="vEUR" decimals="-3">42587000</ifrs-full:CurrentTradeReceivables>
<ifrs-full:CurrentPrepayments contextRef="ctx19" unitRef="vEUR" decimals="-3">2812000</ifrs-full:CurrentPrepayments>
<ifrs-full:CashAndCashEquivalents contextRef="ctx19" unitRef="vEUR" decimals="-3">19703000</ifrs-full:CashAndCashEquivalents>
<ifrs-full:CurrentAssets contextRef="ctx19" unitRef="vEUR" decimals="-3">65102000</ifrs-full:CurrentAssets>
<ifrs-full:Assets contextRef="ctx19" unitRef="vEUR" decimals="-3">109470000</ifrs-full:Assets>
<ifrs-full:IssuedCapital contextRef="ctx19" unitRef="vEUR" decimals="-3">5575000</ifrs-full:IssuedCapital>
<ifrs-full:RetainedEarnings contextRef="ctx19" unitRef="vEUR" decimals="-3">37070000</ifrs-full:RetainedEarnings>
<ifrs-dk:DividendAvailableForDistribution contextRef="ctx19" unitRef="vEUR" decimals="-3">33341000</ifrs-dk:DividendAvailableForDistribution>
<ifrs-full:Equity contextRef="ctx19" unitRef="vEUR" decimals="-3">75986000</ifrs-full:Equity>
<ifrs-full:NoncurrentProvisions contextRef="ctx19" unitRef="vEUR" decimals="-3">1523000</ifrs-full:NoncurrentProvisions>
<ifrs-full:OtherNoncurrentPayables contextRef="ctx19" unitRef="vEUR" decimals="-3">0</ifrs-full:OtherNoncurrentPayables>
<ifrs-full:NoncurrentLiabilities contextRef="ctx19" unitRef="vEUR" decimals="-3">1523000</ifrs-full:NoncurrentLiabilities>
<ifrs-dk:CurrentPrepaymentsFromCustomers contextRef="ctx19" unitRef="vEUR" decimals="-3">85000</ifrs-dk:CurrentPrepaymentsFromCustomers>
<ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers contextRef="ctx19" unitRef="vEUR" decimals="-3">30686000</ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers>
<ifrs-full:CurrentTaxLiabilitiesCurrent contextRef="ctx19" unitRef="vEUR" decimals="-3">1182000</ifrs-full:CurrentTaxLiabilitiesCurrent>
<ifrs-full:CurrentProvisions contextRef="ctx19" unitRef="vEUR" decimals="-3">8000</ifrs-full:CurrentProvisions>
<ifrs-full:CurrentLiabilities contextRef="ctx19" unitRef="vEUR" decimals="-3">31961000</ifrs-full:CurrentLiabilities>
<ifrs-full:Liabilities contextRef="ctx19" unitRef="vEUR" decimals="-3">33484000</ifrs-full:Liabilities>
<ifrs-full:EquityAndLiabilities contextRef="ctx19" unitRef="vEUR" decimals="-3">109470000</ifrs-full:EquityAndLiabilities>
<ifrs-full:ComputerSoftware contextRef="ctx20" unitRef="vEUR" decimals="-3">415000</ifrs-full:ComputerSoftware>
<ifrs-full:IntangibleAssetsAndGoodwill contextRef="ctx20" unitRef="vEUR" decimals="-3">415000</ifrs-full:IntangibleAssetsAndGoodwill>
<ifrs-dk:LeaseholdImprovements contextRef="ctx20" unitRef="vEUR" decimals="-3">879000</ifrs-dk:LeaseholdImprovements>
<ifrs-dk:Equipment contextRef="ctx20" unitRef="vEUR" decimals="-3">1950000</ifrs-dk:Equipment>
<ifrs-full:OtherPropertyPlantAndEquipment contextRef="ctx20" unitRef="vEUR" decimals="-3">1000</ifrs-full:OtherPropertyPlantAndEquipment>
<ifrs-full:PropertyPlantAndEquipment contextRef="ctx20" unitRef="vEUR" decimals="-3">2830000</ifrs-full:PropertyPlantAndEquipment>
<ifrs-full:InvestmentsInSubsidiaries contextRef="ctx20" unitRef="vEUR" decimals="-3">36857000</ifrs-full:InvestmentsInSubsidiaries>
<ifrs-full:InvestmentsInAssociates contextRef="ctx20" unitRef="vEUR" decimals="-3">161000</ifrs-full:InvestmentsInAssociates>
<ifrs-dk:OtherNoncurrentReceivablesDeposits contextRef="ctx20" unitRef="vEUR" decimals="-3">1542000</ifrs-dk:OtherNoncurrentReceivablesDeposits>
<ifrs-full:DeferredTaxAssets contextRef="ctx20" unitRef="vEUR" decimals="-3">3475000</ifrs-full:DeferredTaxAssets>
<ifrs-full:NoncurrentAssets contextRef="ctx20" unitRef="vEUR" decimals="-3">45280000</ifrs-full:NoncurrentAssets>
<ifrs-full:CurrentTradeReceivables contextRef="ctx20" unitRef="vEUR" decimals="-3">42528000</ifrs-full:CurrentTradeReceivables>
<ifrs-full:CurrentPrepayments contextRef="ctx20" unitRef="vEUR" decimals="-3">2607000</ifrs-full:CurrentPrepayments>
<ifrs-full:CashAndCashEquivalents contextRef="ctx20" unitRef="vEUR" decimals="-3">28299000</ifrs-full:CashAndCashEquivalents>
<ifrs-full:CurrentAssets contextRef="ctx20" unitRef="vEUR" decimals="-3">73434000</ifrs-full:CurrentAssets>
<ifrs-full:Assets contextRef="ctx20" unitRef="vEUR" decimals="-3">118714000</ifrs-full:Assets>
<ifrs-full:IssuedCapital contextRef="ctx20" unitRef="vEUR" decimals="-3">5575000</ifrs-full:IssuedCapital>
<ifrs-full:RetainedEarnings contextRef="ctx20" unitRef="vEUR" decimals="-3">58896000</ifrs-full:RetainedEarnings>
<ifrs-dk:DividendAvailableForDistribution contextRef="ctx20" unitRef="vEUR" decimals="-3">28409000</ifrs-dk:DividendAvailableForDistribution>
<ifrs-full:Equity contextRef="ctx20" unitRef="vEUR" decimals="-3">92880000</ifrs-full:Equity>
<ifrs-full:NoncurrentProvisions contextRef="ctx20" unitRef="vEUR" decimals="-3">1384000</ifrs-full:NoncurrentProvisions>
<ifrs-full:OtherNoncurrentPayables contextRef="ctx20" unitRef="vEUR" decimals="-3">832000</ifrs-full:OtherNoncurrentPayables>
<ifrs-full:NoncurrentLiabilities contextRef="ctx20" unitRef="vEUR" decimals="-3">2216000</ifrs-full:NoncurrentLiabilities>
<ifrs-dk:CurrentPrepaymentsFromCustomers contextRef="ctx20" unitRef="vEUR" decimals="-3">212000</ifrs-dk:CurrentPrepaymentsFromCustomers>
<ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers contextRef="ctx20" unitRef="vEUR" decimals="-3">22292000</ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers>
<ifrs-full:CurrentTaxLiabilitiesCurrent contextRef="ctx20" unitRef="vEUR" decimals="-3">1111000</ifrs-full:CurrentTaxLiabilitiesCurrent>
<ifrs-full:CurrentProvisions contextRef="ctx20" unitRef="vEUR" decimals="-3">3000</ifrs-full:CurrentProvisions>
<ifrs-full:CurrentLiabilities contextRef="ctx20" unitRef="vEUR" decimals="-3">23618000</ifrs-full:CurrentLiabilities>
<ifrs-full:Liabilities contextRef="ctx20" unitRef="vEUR" decimals="-3">25834000</ifrs-full:Liabilities>
<ifrs-full:EquityAndLiabilities contextRef="ctx20" unitRef="vEUR" decimals="-3">118714000</ifrs-full:EquityAndLiabilities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx21" xml:lang="en">Profit for the year</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx21" unitRef="vEUR" decimals="-3">50992000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx22" xml:lang="en">Profit for the year</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx22" unitRef="vEUR" decimals="-3">52584000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx23" xml:lang="en">Profit for the year</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx23" unitRef="vEUR" decimals="-3">49216000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx24" xml:lang="en">Profit for the year</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx24" unitRef="vEUR" decimals="-3">68345000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx25" xml:lang="en">Cash from operating activities before financial items</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx25" unitRef="vEUR" decimals="-3">78661000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx26" xml:lang="en">Cash from operating activities before financial items</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx26" unitRef="vEUR" decimals="-3">75704000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx27" xml:lang="en">Cash from operating activities before financial items</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx27" unitRef="vEUR" decimals="-3">69001000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx28" xml:lang="en">Cash from operating activities before financial items</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx28" unitRef="vEUR" decimals="-3">39713000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx29" xml:lang="en">Dividends from associates</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx29" unitRef="vEUR" decimals="-3">91000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx30" xml:lang="en">Dividends from associates</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx30" unitRef="vEUR" decimals="-3">10000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx31" xml:lang="en">Dividends from associates</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx31" unitRef="vEUR" decimals="-3">91000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx32" xml:lang="en">Dividends from associates</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx32" unitRef="vEUR" decimals="-3">10000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx33" xml:lang="en">Dividends from subsidiaries</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx33" unitRef="vEUR" decimals="-3">8309000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx34" xml:lang="en">Dividends from subsidiaries</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx34" unitRef="vEUR" decimals="-3">23040000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-full:CashAndCashEquivalents contextRef="ctx35" unitRef="vEUR" decimals="-3">43344000</ifrs-full:CashAndCashEquivalents>
<ifrs-full:CashAndCashEquivalents contextRef="ctx36" unitRef="vEUR" decimals="-3">37995000</ifrs-full:CashAndCashEquivalents>
<ifrs-full:CashAndCashEquivalents contextRef="ctx37" unitRef="vEUR" decimals="-3">28299000</ifrs-full:CashAndCashEquivalents>
<ifrs-full:CashAndCashEquivalents contextRef="ctx38" unitRef="vEUR" decimals="-3">26748000</ifrs-full:CashAndCashEquivalents>
</xbrli:xbrl>