Assets
| Type | Time | Amount | Unit |
|---|---|---|---|
| ifrs-full:Assets | 2017-12-31 | 1326587000 | DKK |
| ifrs-full:Assets | 2016-12-31 | 1188508000 | DKK |
| ifrs-full:Assets | 2017-12-31 | 1204382000 | DKK |
| ifrs-full:Assets | 2016-12-31 | 1029508000 | DKK |
Revenue
| Type | Start date | End date | Amount | Unit |
|---|---|---|---|---|
| ifrs-full:Revenue | 2017-01-01 | 2017-12-31 | 1621634000 | DKK |
| ifrs-full:Revenue | 2016-01-01 | 2016-12-31 | 1610606000 | DKK |
| ifrs-full:Revenue | 2017-01-01 | 2017-12-31 | 0 | DKK |
| ifrs-full:Revenue | 2016-01-01 | 2016-12-31 | 0 | DKK |
XML
See the xml submitted here:
XML: http://regnskaber.virk.dk/21891694/ZG9rdW1lbnRsYWdlcjovLzAzL2M4LzQ4LzA1LzExL2NlYjUtNGI1YS1iNDhjLWJkYzdmYjRjOGIwNw.xml
Separator
The full data:
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<arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements contextRef="duration_CY_C_only">To the shareholders of H+H International A/S</arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements>
<arr:OpinionOnAuditedFinancialStatements contextRef="duration_CY_C_only">We have audited the consolidated financial statements and the parent financial statements of H+H<br/>International A/S for the financial year 1 January to 31 December 2017, which comprise the income<br/>statement, statement of comprehensive income, balance sheet, statement of changes in equity, cash<br/>flow statement and notes, including a summary of significant accounting policies, for the Group as<br/>well as for the Parent. The consolidated financial statements and the parent financial statements are<br/>prepared in accordance with International Financial Reporting Standards as adopted by the EU and<br/>additional requirements of the Danish Financial Statements Act.<br/><br/>In our opinion, the consolidated financial statements and the parent financial statements give a true<br/>and fair view of the Groupâs and the Parentâs financial position at 31 December 2017, and of the results<br/>of their operations and cash flows for the financial year 1 January to 31 December 2017 in accordance<br/>with International Financial Reporting Standards as adopted by the EU and additional requirements of<br/>the Danish Financial Statements Act.<br/><br/>Our opinion is consistent with our audit book comments issued to the Audit Committee and the Board<br/>of Directors.</arr:OpinionOnAuditedFinancialStatements>
<arr:DescriptionOfQualificationsOfAuditedFinancialStatements contextRef="duration_CY_C_only">We conducted our audit in accordance with International Standards on Auditing (ISAs) and the ad-ditional<br/>requirements applicable in Denmark. Our responsibilities under those standards and re-quirements<br/>are further described in the Auditorâs responsibilities for the audit of the consolidated financial<br/>statements and the parent financial statements section of this auditorâs report. We are inde-pendent of<br/>the Group in accordance with the International Ethics Standards Board of Accountantsâ Code of Ethics<br/>for Professional Accountants (IESBA Code) and the additional requirements applica-ble in Denmark,<br/>and we have fulfilled our other ethical responsibilities in accordance with these requirements. We<br/>believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our<br/>opinion.<br/><br/>To the best of our knowledge and belief, we have not provided any prohibited non-audit services as<br/>referred to in Article 5(1) of Regulation (EU) No 537/2014.<br/><br/>We were appointed auditors of H+H International A/S for the first time on 18 April 2012 for the financial<br/>year 2012. We have been reappointed annually by decision of the general meeting for a total consequtive<br/>engagement period of 6 years up to and including the financial year 2017.</arr:DescriptionOfQualificationsOfAuditedFinancialStatements>
<arr:KeyAuditMattersAudit contextRef="duration_CY_C_only">Key audit matters are those matters that, in our professional judgement, were of most significance in<br/>our audit of the consolidated financial statements and the parent financial statements for the fi-nancial<br/>year 1 January to 31 December 2017. These matters were addressed in the context of our audit of the<br/>consolidated financial statements and the parent financial statements as a whole, and in forming our<br/>opinion thereon, and we do not provide a separate opinion on these matters.<br/><br/>Accounting for defined benefit pension plan<br/>in H+H, UK<br/><br/>Refer to Note [1] âGeneral accounting policiesâ<br/>and âCritical accounting estimatesâ, and Note<br/>19 âPension obligationsâ pages [59-62] in the<br/>consolidated financial statements. As of 31<br/>December 2017, the Group has recognised a<br/>material pension obligation of DKK 150 million<br/>in accordance with IAS 19 primarily relating to<br/>H+H, UK.<br/><br/>The measurement of the pension obligations<br/>requires significant levels of judgement and<br/>technical expertise in choosing appropriate assumptions,<br/>methods and model. Small changes<br/>to key assumptions can have a material impact<br/>on the obligation, in particular:<br/><br/>ô Discount rate<br/>ô Mortality rate, and<br/>ô Life expectancy<br/><br/>External actuaries have assisted the Group<br/>with measuring the pension obligations at 31<br/>December 2017.<br/><br/>How the matter was addressed in the audit<br/><br/>We have audited the Groupâs pension obligations<br/>in H+H, UK as follows:<br/><br/>ô Agreed the discount and mortality<br/>rates as well as the expected investment<br/>income of the pension plan<br/>used in the measurement of the<br/>pension obligations to expectations<br/>determined by ourselves using our<br/>own internal actuarial specialists<br/>and compared the assumptions<br/>to national and industry accepted<br/>benchmark data.<br/>ô Evaluated the competencies of<br/>the external actuaries who have<br/>assisted the Group to calculate the<br/>pension obligations by evaluating<br/>their approach and association with<br/>the appropriate industry body.<br/>ô Recalculated the pension obligations<br/>by applying the appropriate<br/>assumptions to determine the<br/>accuracy of the pension obligations<br/>at the balance sheet date.<br/>ô Performed testing of the assets<br/>of the pension plan and reviewed<br/>membership statistics of the<br/>scheme.<br/>ô Assessed the adequacy and appropriateness<br/>of disclosures in the<br/>notes and that they comply with the<br/>requirements of IAS 19.<br/><br/>Impairment test Property, plant & equipment<br/>in H+H Russia<br/>Refer to Note [1] âGeneral accounting policiesâ<br/>and âCritical accounting estimatesâ, and Note<br/></arr:KeyAuditMattersAudit>
<arr:KeyAuditMattersAudit contextRef="duration_CY_C_only">âIntangible assets and property, plant<br/>and equipmentâ where Managementâs annual<br/>impairment test is described in detail.<br/><br/>Property, plant and equipment in H+H Russia<br/>totals DKK 122 million as of 31 December 2017.<br/>No impairment losses have been recognised in<br/>2017.<br/><br/>The Russian market with overcapacity and the<br/>uncertain market conditions makes it more<br/>difficult than normal to predict the future<br/>performance of the Russian entity and thereby<br/>increases the risk that Property, plant and<br/>equipment in H+H Russia could become subject<br/>to impairment losses.<br/><br/>The impairment test prepared by Management<br/>involves significant judgement about future<br/>annual revenue development, growth, gross<br/>margins, capacity costs, inflation and the discount<br/>rates applied.<br/><br/>In 2016, we also considered the impairment<br/>assessment of goodwill relating to H+H Poland<br/>to be a key audit matter. Due to a significant<br/>upward shift and better market conditions in<br/>the Polish market, we no longer consider the<br/>impairment test of goodwill in H+H Poland to be<br/>a key audit matter.<br/><br/>How the matter was addressed in the audit<br/><br/>We have assessed whether the method and assumptions<br/>applied to calculate the value in use<br/>are appropriate. In this context, we have:<br/><br/>ô Evaluated the assumptions, methods<br/>and model applied for impairment<br/>testing, including consistency<br/>with prior years.<br/>ô Obtained supporting documentation<br/>prepared by Management of<br/>significant assumptions applied for<br/>impairment testing, with focus on<br/>discount rate, expected developments<br/>in future annual revenue,<br/>growth, gross margins, capacity<br/>costs, inflation and the discount<br/>rates and discussed these with<br/>Management to assess their reasonableness.<br/>ô Compared the earnings expectations<br/>with the latest budget<br/>approved by the Board of Directors<br/>and earnings realised in the past.<br/>ô Tested Managementâs sensitivity<br/>analyses.<br/>ô Assessed the adequacy and appropriateness<br/>of disclosures in the<br/>notes and that they comply with the<br/>requirements of IAS 36.<br/>ô Consulted with subject matter<br/>experts regarding the valuation<br/>methodology and the assumptions<br/>applied.</arr:KeyAuditMattersAudit>
<arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements contextRef="duration_CY_C_only">Management is responsible for the management commentary.<br/><br/>Our opinion on the consolidated financial statements and the parent financial statements does not<br/>cover the management commentary, and we do not express any form of assurance conclusion thereon.<br/><br/>In connection with our audit of the consolidated financial statements and the parent financial statements,<br/>our responsibility is to read the management commentary and, in doing so, consider whether<br/>the management commentary is materially inconsistent with the consolidated financial statements<br/>and the parent financial statements or our knowledge obtained in the audit or otherwise appears to be<br/>materially misstated.<br/><br/>Moreover, it is our responsibility to consider whether the management commentary provides the<br/>information required under the Danish Financial Statements Act.<br/><br/>Based on the work we have performed, we conclude that the management commentary is in accordance<br/>with the consolidated financial statements and the parent financial statements and has been<br/>prepared in accordance with the requirements of the Danish Financial Statements Act. We did not<br/>identify any material misstatement of the management commentary.</arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements>
<arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements contextRef="duration_CY_C_only">Management is responsible for the preparation of consolidated financial statements and parent<br/>financial statements that give a true and fair view in accordance with International Financial Reporting<br/>Standards as adopted by the EU and additional requirements of the Danish Financial Statements Act,<br/>and for such internal control as Management determines is necessary to enable the preparation of<br/>consolidated financial statements and parent financial statements that are free from material misstatement,<br/>whether due to fraud or error.<br/><br/>In preparing the consolidated financial statements and the parent financial statements, Management<br/>is responsible for assessing the Groupâs and the Parentâs ability to continue as a going concern, for<br/>disclosing, as applicable, matters related to going concern, and for using the going concern basis of<br/>accounting in preparing the consolidated financial statements and the parent financial statements<br/>unless Management either intends to liquidate the Group or the Entity or to cease operations, or has<br/>no realistic alternative but to do so.</arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements>
<arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed contextRef="duration_CY_C_only">Our objectives are to obtain reasonable assurance about whether the consolidated financial statements<br/>and the parent financial statements as a whole are free from material misstatement, whether<br/>due to fraud or error, and to issue an auditorâs report that includes our opinion. Reasonable assurance<br/>is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs<br/>and the additional requirements applicable in Denmark will always detect a material misstatement<br/>when it exists. Misstatements can arise from fraud or error and are considered material if, individually<br/>or in the aggregate, they could reasonably be expected to influence the economic decisions of users<br/>taken on the basis of these consolidated financial statements and these parent financial statements.<br/><br/>As part of an audit conducted in accordance with ISAs and the additional requirements applicable in<br/>Denmark, we exercise professional judgement and maintain professional scepticism throughout the<br/>audit. We also:<br/><br/>ô Identify and assess the risks of material misstatement of the consolidated financial<br/>statements and the parent financial statements, whether due to fraud or error, design<br/>and perform audit procedures responsive to those risks, and obtain audit evidence that<br/>is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting<br/>a material misstatement resulting from fraud is higher than for one resulting from error,<br/>as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the<br/>override of internal control.<br/>ô Obtain an understanding of internal control relevant to the audit in order to design audit<br/>procedures that are appropriate in the circumstances, but not for the purpose of expressing<br/>an opinion on the effectiveness of the Groupâs and the Parentâs internal control.<br/>ô Evaluate the appropriateness of accounting policies used and the reasonableness of<br/>accounting estimates and related disclosures made by Management.<br/>ô Conclude on the appropriateness of Managementâs use of the going concern basis of<br/>accounting in preparing the consolidated financial statements and the parent financial<br/>statements, and, based on the audit evidence obtained, whether a material uncertainty<br/>exists related to events or conditions that may cast significant doubt on the Groupâs and<br/>the Parentâs ability to continue as a going concern. If we conclude that a material uncertainty<br/>exists, we are required to draw attention in our auditorâs report to the related disclosures<br/>in the consolidated financial statements and the parent financial statements or, if<br/>such disclosures are inadequate, to modify our opinion. Our conclusions are based on the<br/>audit evidence obtained up to the date of our auditorâs report. However, future events or<br/>conditions may cause the Group and the Entity to cease to continue as a going concern.<br/>ô Evaluate the overall presentation, structure and content of the consolidated financial<br/>statements and the parent financial statements, including the disclosures in the notes,<br/>and whether the consolidated financial statements and the parent financial statements<br/>represent the underlying transactions and events in a manner that gives a true and fair<br/>view.<br/>ô Obtain sufficient appropriate audit evidence regarding the financial information of the<br/>entities or business activities within the Group to express an opinion on the consolidated<br/>financial statements. We are responsible for the direction, supervision and performance<br/>of the group audit. We remain solely responsible for our audit opinion.<br/><br/>We communicate with those charged with governance regarding, among other matters, the planned<br/>scope and timing of the audit and significant audit findings, including any significant deficiencies in<br/>internal control that we identify during our audit.<br/><br/>We also provide those charged with governance with a statement that we have complied with relevant<br/>ethical requirements regarding independence, and to communicate with them all relationships and<br/>other matters that may reasonably be thought to bear on our independence, and where applicable,<br/>related safeguards.<br/><br/>From the matters communicated with those charged with governance, we determine those matters<br/>that were of most significance in the audit of the consolidated financial statements and the parent<br/>financial statements of the current period and are therefore the key audit matters. We describe these<br/>matters in our auditorâs report unless law or regulation precludes public disclosure about the matter<br/>or when, in extremely rare circumstances, we determine that a matter should not be communicated in<br/>our report because the adverse consequences of doing so would reasonably be expected to outweigh<br/>the public interest benefits of such communication.</arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed>
<arr:SignatureOfAuditorsPlace contextRef="duration_CY_C_only">Copenhagen</arr:SignatureOfAuditorsPlace>
<arr:SignatureOfAuditorsDate contextRef="duration_CY_C_only">2018-03-14</arr:SignatureOfAuditorsDate>
<cmn:NameAndSurnameOfAuditor contextRef="duration_CY_C_IdentificationOfAuditorDimension_cmn_auditorIdentificer_only_1">Anders Oldau Gjelstrup</cmn:NameAndSurnameOfAuditor>
<cmn:NameAndSurnameOfAuditor contextRef="duration_CY_C_IdentificationOfAuditorDimension_cmn_auditorIdentificer_only_2">Casper Hjerresen Christensen</cmn:NameAndSurnameOfAuditor>
<cmn:DescriptionOfAuditor contextRef="duration_CY_C_IdentificationOfAuditorDimension_cmn_auditorIdentificer_only_1">State-Authorised Public Accountant</cmn:DescriptionOfAuditor>
<cmn:DescriptionOfAuditor contextRef="duration_CY_C_IdentificationOfAuditorDimension_cmn_auditorIdentificer_only_2">State-Authorised Public Accountant</cmn:DescriptionOfAuditor>
<arr:IdentificationNumberOfAuditor contextRef="duration_CY_C_IdentificationOfAuditorDimension_cmn_auditorIdentificer_only_1">mne10777</arr:IdentificationNumberOfAuditor>
<arr:IdentificationNumberOfAuditor contextRef="duration_CY_C_IdentificationOfAuditorDimension_cmn_auditorIdentificer_only_2">mne41363</arr:IdentificationNumberOfAuditor>
<mrv:StatementOfCorporateSocialResponsibility contextRef="duration_CY_C_only">H+H develops, manufactures and sells aircrete and CSU<br/>products for the building industry in Northern and Central<br/>Europe and Northwest Russia and strives to do so sustainably<br/>from a commercial, health & safety and environmental<br/>perspective. This goal of doing business in a sustainable<br/>way is an integral part of all of H+Hâs activities.<br/><br/>Aircrete is a particularly eco-friendly building material, not<br/>only because of its excellent thermal insulation properties<br/>but also because the production of aircrete is relatively<br/>easy on the environment, and, at the end of its life, aircrete<br/>can be recycled into new aircrete products or used for other<br/>purposes, such as catlitter and road fill. The primary materials<br/>used in the production of aircrete are cement, lime<br/>and sand, all of which are based on abundantly available<br/>natural resources. At some of H+Hâs production facilities,<br/>PFA (pulverised fuel ash, a residual product from coal-fired<br/>power stations) is used as a raw material instead of sand.<br/><br/>Similarly, CSU is made from lime and sand only. The product<br/>has very good load bearing and acoustic properties as<br/>well as fire and moisture resistance and is a key component<br/>in multifamily housing projects.<br/><br/>CSR policies<br/>H+H has established a group CSR organisation. Furthermore,<br/>H+H has a general group-wide Code of Conduct in<br/>place as well as various underlying group policies concerning<br/>supplier conduct, competition law compliance,<br/>anti-corruption, health, safety & environment etc. The<br/>policies are implemented in the various H+H companies<br/>via online training and/or seminars, as well as awareness<br/>activities. In addition, an online whistleblower system<br/>enables H+Hâs employees, suppliers and customers to file<br/>reports on suspected non-compliance.<br/><br/>CSR statement for 2017<br/>Pursuant to section 99a of the Danish Financial Statements<br/>Act, H+H International A/S publishes an annual<br/>statement on its CSR policies, actions taken to implement<br/>these policies and the results of these actions. The 2017<br/>statement forms part of managementâs review and can<br/>be found on the companyâs website at www.HplusH.com/<br/>csr-statement.<br/><br/>Future CSR reporting<br/>H+H intends to re-assess the most material impact on<br/>the environment from its operations following its recent<br/>acquisitions.<br/><br/>As an outcome general alignment of data to support more<br/>structured reporting processes is anticipated and reporting<br/>on CSR KPIs is expected to become an integral part of<br/>the annual report for 2018.<br/><br/>The main KPIs will be aligned with the recommendations<br/>from the Danish Finance Society.</mrv:StatementOfCorporateSocialResponsibility>
<mrv:LinkToStatementOfCorporateSocialResponsibility contextRef="duration_CY_C_only">www.HplusH.com/csr-statement</mrv:LinkToStatementOfCorporateSocialResponsibility>
<mrv:CorporateGovernanceReport contextRef="duration_CY_C_only">As a company listed on Nasdaq Copenhagen, H+H International<br/>A/S is subject to its Rules for issuers of shares,<br/>including an obligation to comply with the Recommendations<br/>on Corporate Governance issued by the Danish Committee<br/>on Corporate Governance or to explain why not and<br/>describe any alternative implemented instead. The recommendations<br/>applicable for 2017 are the recommendations<br/>as updated in November 2014 which can be found on the<br/>Committeeâs website: www.corporategovernance.dk. In<br/>accordance with the recommendations, H+H International<br/>A/S has prepared a report on the companyâs compliance<br/>with the recommendations in 2017. The report forms part<br/>of the companyâs Statutory annual corporate governance<br/>statement under section 107b of the Danish Financial<br/>Statements Act, which can be viewed on the companyâs<br/>website at www.HplusH.com/governance-statement. H+H<br/>International A/S essentially complies with the recommendations,<br/>with the only deviations for 2017 being:<br/><br/>ô H+H International A/S has not set any objectives<br/>or produced any policy to ensure diversity<br/>at management level in the company and this is<br/>a departure from recommendation 2.1.6 of the<br/>Recommendations on Corporate Governance.<br/>However, not to set objectives or have a policy<br/>is in line with the exemption granted in section<br/>139a(6) of the Companies Act to small organisations<br/>with less than 50 employees in respect<br/>of the obligation to set objectives and produce<br/>a policy to ensure diversity, including a higher<br/>proportion of the underrepresented gender.<br/>The decision not to establish any objectives or<br/>policy with regard to diversity is due to the fact<br/>that there are less than 15 employees in H+H<br/>Internationalâs organisation, meaning there are<br/>only limited or no changes in the organisation in<br/>a given year, which again makes it very difficult<br/>to effectively pursue any diversity objectives<br/>and policy within a meaningful time frame. That<br/>being said, H+H Internationalâs organisation<br/>is quite diverse in respect of skills, gender, age<br/>and nationality, since out of the current 11 employees<br/>(including the Executive Board), there<br/>are three women and eight men, three different<br/>nationalities and ages ranging from 30 to 65<br/>years.<br/><br/>ô The Board of Directors does not have a<br/>chairmanship with a Chairman and a Deputy<br/>Chairman and this is a departure from recommendation<br/>2.3.1 of the Recommendations on<br/>Corporate Governance. The decision to have<br/>only a Chairman was made due to the fact that<br/>even though the challenges and opportunities<br/>relating to the management of the H+H Group<br/>may be many at times, the management of H+H<br/>is not so complex that it necessarily requires a<br/>Deputy Chairman to assist the Chairman. The<br/>Board has put in place procedures to ensure<br/>that the Board can function in case the Chairman<br/>cannot attend meetings on a temporary<br/>basis.<br/><br/>ô The Articles of Association do not stipulate a<br/>retirement age for the members of the Board of<br/>Directors and this is a departure from recommendation<br/>3.1.4 of the Recommendations on<br/>Corporate Governance. The Board of Directors<br/>considers a fixed retirement age to be arbitrary<br/>and, instead, wants the Board of Directors in<br/>its nominations and the general meeting in its<br/>election of board members to be able to make a<br/>decision on the basis of an overall assessment<br/>of the candidates in which age is just one of<br/>several parameters.<br/><br/>ô The Remuneration Committee has not recommended<br/>a remuneration policy for H+H International<br/>A/S in general and this is a departure<br/>from recommendation 3.4.7 of the Recommendations<br/>on Corporate Governance. With only 11<br/>employees (including the Executive Board) in<br/>H+H International A/S, the Remuneration Committee<br/>has only recommended a remuneration<br/>policy applicable for the Board of Directors and<br/>the Executive Board, but not for the company in<br/>general since such policy would only apply to 9<br/>employees with very different areas and levels<br/>of responsibility and functions.</mrv:CorporateGovernanceReport>
<mrv:LinkToCorporateGovernanceReport contextRef="duration_CY_C_only">www.HplusH.com/governance-statement</mrv:LinkToCorporateGovernanceReport>
<mrv:StatementOfTargetFiguresAndPoliciesForTheUnderrepresentedGender contextRef="duration_CY_C_only">H+H International A/Sâs organisation represents different<br/>skills, nationalities, ages, gender and international experience.<br/>Recruitment for management positions takes place<br/>with an emphasis on skills and experience, and without discrimination<br/>on the grounds of age, gender, nationality etc.<br/><br/>Pursuant to section 139a of the Danish Companies Act,<br/>H+H International A/S has set a target for the gender distribution<br/>of the Board of Directors, whereby the Board shall<br/>seek to ensure that each gender is represented (i) by at<br/>least one shareholder-elected member when the Board of<br/>Directors has four shareholder-elected members; (ii) by at<br/>least two shareholder-elected members when the Board of<br/>Directors has five to seven shareholder-elected members;<br/>and (iii) by at least three shareholder-elected members<br/>when the Board of Directors has eight shareholder-elected<br/>members. The target shall be reached no later than at<br/>the annual general meeting in 2019. The target is in line<br/>with the Danish Business Authorityâs Guidelines on target<br/>figures, policies and reporting on the gender composition<br/>of management issued in March 2016. At the end of 2017<br/>the Board of Directors consisted of six shareholder-elected<br/>members out of which one was a woman.<br/><br/>One new additional member was elected to the Board of<br/>Directors at the annual general meeting in 2017. The expansion<br/>of the Board was made with the aim of strengthening<br/>the Boardâs skills s and experience within the German<br/>building materials industry. The recruitment was aimed at<br/>both women and male candidates, and the Board decided<br/>to propose the most qualified candidate as new board<br/>member, and this candidate was male.<br/><br/>The management team at H+H International A/S is<br/>relatively diverse, since even though it consists of four<br/>men, there are only two Danish nationals with the other<br/>two management members being British and with two of<br/>them having extensive international business experience<br/>and having lived abroad earlier in their career. The management<br/>teams at H+H International A/Sâs subsidiaries<br/>are also generally diverse with people of different ages and<br/>genders working as managers within production, procurement,<br/>finance, sales, marketing & HR.</mrv:StatementOfTargetFiguresAndPoliciesForTheUnderrepresentedGender>
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<ifrs-full:NoncurrentLiabilities contextRef="instant_CY_C_only" decimals="-3" unitRef="DKK">636071000</ifrs-full:NoncurrentLiabilities>
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<ifrs-full:CurrentProvisions contextRef="instant_LY_C_only" decimals="-3" unitRef="DKK">6276000</ifrs-full:CurrentProvisions>
<ifrs-full:CurrentProvisions contextRef="instant_CY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">0</ifrs-full:CurrentProvisions>
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<ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers contextRef="instant_CY_C_only" decimals="-3" unitRef="DKK">216466000</ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers>
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<ifrs-dk:TradeAndOtherCurrentPayablesToSubsidiaries contextRef="instant_LY_C_only" decimals="-3" unitRef="DKK">0</ifrs-dk:TradeAndOtherCurrentPayablesToSubsidiaries>
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<ifrs-dk:LiabilitiesAssociatedWithAssetsHeldForSale contextRef="instant_LY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">0</ifrs-dk:LiabilitiesAssociatedWithAssetsHeldForSale>
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<ifrs-full:AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets contextRef="duration_CY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">0</ifrs-full:AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets>
<ifrs-full:AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets contextRef="duration_LY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">-4476000</ifrs-full:AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets>
<ifrs-full:OtherAdjustmentsToReconcileProfitLoss contextRef="duration_CY_C_only" decimals="-3" unitRef="DKK">1493000</ifrs-full:OtherAdjustmentsToReconcileProfitLoss>
<ifrs-full:OtherAdjustmentsToReconcileProfitLoss contextRef="duration_LY_C_only" decimals="-3" unitRef="DKK">843000</ifrs-full:OtherAdjustmentsToReconcileProfitLoss>
<ifrs-full:OtherAdjustmentsToReconcileProfitLoss contextRef="duration_CY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">2018000</ifrs-full:OtherAdjustmentsToReconcileProfitLoss>
<ifrs-full:OtherAdjustmentsToReconcileProfitLoss contextRef="duration_LY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">-339000</ifrs-full:OtherAdjustmentsToReconcileProfitLoss>
<ifrs-dk:DecreaseIncreaseInInventories contextRef="duration_CY_C_only" decimals="-3" unitRef="DKK">81414000</ifrs-dk:DecreaseIncreaseInInventories>
<ifrs-dk:DecreaseIncreaseInInventories contextRef="duration_LY_C_only" decimals="-3" unitRef="DKK">9496000</ifrs-dk:DecreaseIncreaseInInventories>
<ifrs-dk:DecreaseIncreaseInInventories contextRef="duration_CY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">0</ifrs-dk:DecreaseIncreaseInInventories>
<ifrs-dk:DecreaseIncreaseInInventories contextRef="duration_LY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">0</ifrs-dk:DecreaseIncreaseInInventories>
<ifrs-dk:DecreaseIncreaseInReceivables contextRef="duration_CY_C_only" decimals="-3" unitRef="DKK">-18048000</ifrs-dk:DecreaseIncreaseInReceivables>
<ifrs-dk:DecreaseIncreaseInReceivables contextRef="duration_LY_C_only" decimals="-3" unitRef="DKK">-8501000</ifrs-dk:DecreaseIncreaseInReceivables>
<ifrs-dk:DecreaseIncreaseInReceivables contextRef="duration_CY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">1303000</ifrs-dk:DecreaseIncreaseInReceivables>
<ifrs-dk:DecreaseIncreaseInReceivables contextRef="duration_LY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">-3719000</ifrs-dk:DecreaseIncreaseInReceivables>
<ifrs-dk:DecreaseIncreaseInTradePayables contextRef="duration_CY_C_only" decimals="-3" unitRef="DKK">-23580000</ifrs-dk:DecreaseIncreaseInTradePayables>
<ifrs-dk:DecreaseIncreaseInTradePayables contextRef="duration_LY_C_only" decimals="-3" unitRef="DKK">-23120000</ifrs-dk:DecreaseIncreaseInTradePayables>
<ifrs-dk:DecreaseIncreaseInTradePayables contextRef="duration_CY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">2211000</ifrs-dk:DecreaseIncreaseInTradePayables>
<ifrs-dk:DecreaseIncreaseInTradePayables contextRef="duration_LY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">-2267000</ifrs-dk:DecreaseIncreaseInTradePayables>
<ifrs-full:InterestPaidClassifiedAsOperatingActivities contextRef="duration_CY_C_only" decimals="-3" unitRef="DKK">19737000</ifrs-full:InterestPaidClassifiedAsOperatingActivities>
<ifrs-full:InterestPaidClassifiedAsOperatingActivities contextRef="duration_LY_C_only" decimals="-3" unitRef="DKK">22083000</ifrs-full:InterestPaidClassifiedAsOperatingActivities>
<ifrs-full:InterestPaidClassifiedAsOperatingActivities contextRef="duration_CY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">9490000</ifrs-full:InterestPaidClassifiedAsOperatingActivities>
<ifrs-full:InterestPaidClassifiedAsOperatingActivities contextRef="duration_LY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">11513000</ifrs-full:InterestPaidClassifiedAsOperatingActivities>
<ifrs-full:InterestReceivedClassifiedAsOperatingActivities contextRef="duration_CY_C_only" decimals="-3" unitRef="DKK">1119000</ifrs-full:InterestReceivedClassifiedAsOperatingActivities>
<ifrs-full:InterestReceivedClassifiedAsOperatingActivities contextRef="duration_LY_C_only" decimals="-3" unitRef="DKK">1245000</ifrs-full:InterestReceivedClassifiedAsOperatingActivities>
<ifrs-full:InterestReceivedClassifiedAsOperatingActivities contextRef="duration_CY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">14059000</ifrs-full:InterestReceivedClassifiedAsOperatingActivities>
<ifrs-full:InterestReceivedClassifiedAsOperatingActivities contextRef="duration_LY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">16190000</ifrs-full:InterestReceivedClassifiedAsOperatingActivities>
<ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities contextRef="duration_CY_C_only" decimals="-3" unitRef="DKK">20604000</ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities>
<ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities contextRef="duration_LY_C_only" decimals="-3" unitRef="DKK">21368000</ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities>
<ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities contextRef="duration_CY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">267000</ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities>
<ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities contextRef="duration_LY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">0</ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="duration_CY_C_IdentificationOfComponentOfCashFlowsFromUsedInOperatingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_1">Loss on disposal of property, plant and equipment</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="duration_LY_C_IdentificationOfComponentOfCashFlowsFromUsedInOperatingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_1">Loss on disposal of property, plant and equipment</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="duration_CY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_IdentificationOfComponentOfCashFlowsFromUsedInOperatingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_1">Loss on disposal of property, plant and equipment</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="duration_LY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_IdentificationOfComponentOfCashFlowsFromUsedInOperatingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_1">Loss on disposal of property, plant and equipment</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="duration_CY_C_IdentificationOfComponentOfCashFlowsFromUsedInOperatingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_2">Joint taxation contribution received</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="duration_LY_C_IdentificationOfComponentOfCashFlowsFromUsedInOperatingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_2">Joint taxation contribution received</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="duration_CY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_IdentificationOfComponentOfCashFlowsFromUsedInOperatingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_2">Joint taxation contribution received</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="duration_LY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_IdentificationOfComponentOfCashFlowsFromUsedInOperatingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_2">Joint taxation contribution received</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="duration_CY_C_IdentificationOfComponentOfCashFlowsFromUsedInOperatingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_1" decimals="-3" unitRef="DKK">1496000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="duration_LY_C_IdentificationOfComponentOfCashFlowsFromUsedInOperatingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_1" decimals="-3" unitRef="DKK">0</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="duration_CY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_IdentificationOfComponentOfCashFlowsFromUsedInOperatingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_1" decimals="-3" unitRef="DKK">0</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="duration_LY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_IdentificationOfComponentOfCashFlowsFromUsedInOperatingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_1" decimals="-3" unitRef="DKK">0</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="duration_CY_C_IdentificationOfComponentOfCashFlowsFromUsedInOperatingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_2" decimals="-3" unitRef="DKK">0</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="duration_LY_C_IdentificationOfComponentOfCashFlowsFromUsedInOperatingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_2" decimals="-3" unitRef="DKK">0</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="duration_CY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_IdentificationOfComponentOfCashFlowsFromUsedInOperatingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_2" decimals="-3" unitRef="DKK">1628000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="duration_LY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_IdentificationOfComponentOfCashFlowsFromUsedInOperatingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_2" decimals="-3" unitRef="DKK">0</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-full:CashFlowsFromUsedInOperatingActivities contextRef="duration_CY_C_only" decimals="-3" unitRef="DKK">83282000</ifrs-full:CashFlowsFromUsedInOperatingActivities>
<ifrs-full:CashFlowsFromUsedInOperatingActivities contextRef="duration_LY_C_only" decimals="-3" unitRef="DKK">143058000</ifrs-full:CashFlowsFromUsedInOperatingActivities>
<ifrs-full:CashFlowsFromUsedInOperatingActivities contextRef="duration_CY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">2379000</ifrs-full:CashFlowsFromUsedInOperatingActivities>
<ifrs-full:CashFlowsFromUsedInOperatingActivities contextRef="duration_LY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">-1144000</ifrs-full:CashFlowsFromUsedInOperatingActivities>
<ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities contextRef="duration_CY_C_only" decimals="-3" unitRef="DKK">35066000</ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities>
<ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities contextRef="duration_LY_C_only" decimals="-3" unitRef="DKK">31497000</ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities>
<ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities contextRef="duration_CY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">0</ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities>
<ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities contextRef="duration_LY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">0</ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities>
<ifrs-dk:IncreaseOfShareCapital contextRef="duration_CY_C_only" decimals="-3" unitRef="DKK">0</ifrs-dk:IncreaseOfShareCapital>
<ifrs-dk:IncreaseOfShareCapital contextRef="duration_LY_C_only" decimals="-3" unitRef="DKK">0</ifrs-dk:IncreaseOfShareCapital>
<ifrs-dk:IncreaseOfShareCapital contextRef="duration_CY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">-25866000</ifrs-dk:IncreaseOfShareCapital>
<ifrs-dk:IncreaseOfShareCapital contextRef="duration_LY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">-545000</ifrs-dk:IncreaseOfShareCapital>
<ifrs-full:ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities contextRef="duration_CY_C_only" decimals="-3" unitRef="DKK">803000</ifrs-full:ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities>
<ifrs-full:ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities contextRef="duration_LY_C_only" decimals="-3" unitRef="DKK">39846000</ifrs-full:ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities>
<ifrs-full:ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities contextRef="duration_CY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">0</ifrs-full:ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities>
<ifrs-full:ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities contextRef="duration_LY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">4476000</ifrs-full:ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="duration_CY_C_IdentificationOfComponentOfCashFlowsFromUsedInInvestingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_11">Acquisition of property, plant and equipment and<br/>intangible assets</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="duration_LY_C_IdentificationOfComponentOfCashFlowsFromUsedInInvestingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_11">Acquisition of property, plant and equipment and<br/>intangible assets</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="duration_CY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_IdentificationOfComponentOfCashFlowsFromUsedInInvestingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_11">Acquisition of property, plant and equipment and<br/>intangible assets</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="duration_LY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_IdentificationOfComponentOfCashFlowsFromUsedInInvestingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_11">Acquisition of property, plant and equipment and<br/>intangible assets</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="duration_CY_C_IdentificationOfComponentOfCashFlowsFromUsedInInvestingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_11" decimals="-3" unitRef="DKK">-109933000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="duration_LY_C_IdentificationOfComponentOfCashFlowsFromUsedInInvestingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_11" decimals="-3" unitRef="DKK">-83330000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="duration_CY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_IdentificationOfComponentOfCashFlowsFromUsedInInvestingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_11" decimals="-3" unitRef="DKK">-337000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="duration_LY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_IdentificationOfComponentOfCashFlowsFromUsedInInvestingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_11" decimals="-3" unitRef="DKK">0</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-full:CashFlowsFromUsedInInvestingActivities contextRef="duration_CY_C_only" decimals="-3" unitRef="DKK">-144196000</ifrs-full:CashFlowsFromUsedInInvestingActivities>
<ifrs-full:CashFlowsFromUsedInInvestingActivities contextRef="duration_LY_C_only" decimals="-3" unitRef="DKK">-74981000</ifrs-full:CashFlowsFromUsedInInvestingActivities>
<ifrs-full:CashFlowsFromUsedInInvestingActivities contextRef="duration_CY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">-26203000</ifrs-full:CashFlowsFromUsedInInvestingActivities>
<ifrs-full:CashFlowsFromUsedInInvestingActivities contextRef="duration_LY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">3931000</ifrs-full:CashFlowsFromUsedInInvestingActivities>
<ifrs-dk:FreeCashFlowsFromUsedInOperatingInvestingActivities contextRef="duration_CY_C_only" decimals="-3" unitRef="DKK">-60914000</ifrs-dk:FreeCashFlowsFromUsedInOperatingInvestingActivities>
<ifrs-dk:FreeCashFlowsFromUsedInOperatingInvestingActivities contextRef="duration_LY_C_only" decimals="-3" unitRef="DKK">68077000</ifrs-dk:FreeCashFlowsFromUsedInOperatingInvestingActivities>
<ifrs-dk:FreeCashFlowsFromUsedInOperatingInvestingActivities contextRef="duration_CY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">-23824000</ifrs-dk:FreeCashFlowsFromUsedInOperatingInvestingActivities>
<ifrs-dk:FreeCashFlowsFromUsedInOperatingInvestingActivities contextRef="duration_LY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">2787000</ifrs-dk:FreeCashFlowsFromUsedInOperatingInvestingActivities>
<ifrs-dk:PurchaseSaleOfTreasuryAssets contextRef="duration_CY_C_only" decimals="-3" unitRef="DKK">0</ifrs-dk:PurchaseSaleOfTreasuryAssets>
<ifrs-dk:PurchaseSaleOfTreasuryAssets contextRef="duration_LY_C_only" decimals="-3" unitRef="DKK">5560000</ifrs-dk:PurchaseSaleOfTreasuryAssets>
<ifrs-dk:PurchaseSaleOfTreasuryAssets contextRef="duration_CY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">0</ifrs-dk:PurchaseSaleOfTreasuryAssets>
<ifrs-dk:PurchaseSaleOfTreasuryAssets contextRef="duration_LY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">5560000</ifrs-dk:PurchaseSaleOfTreasuryAssets>
<ifrs-dk:DividendsReceivedClassifiedAsFinancingActivities contextRef="duration_CY_C_only" decimals="-3" unitRef="DKK">0</ifrs-dk:DividendsReceivedClassifiedAsFinancingActivities>
<ifrs-dk:DividendsReceivedClassifiedAsFinancingActivities contextRef="duration_LY_C_only" decimals="-3" unitRef="DKK">0</ifrs-dk:DividendsReceivedClassifiedAsFinancingActivities>
<ifrs-dk:DividendsReceivedClassifiedAsFinancingActivities contextRef="duration_CY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">11117000</ifrs-dk:DividendsReceivedClassifiedAsFinancingActivities>
<ifrs-dk:DividendsReceivedClassifiedAsFinancingActivities contextRef="duration_LY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">1487000</ifrs-dk:DividendsReceivedClassifiedAsFinancingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="duration_CY_C_IdentificationOfComponentOfCashFlowsFromUsedInFinancingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_41">Change in intra-group balances</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="duration_LY_C_IdentificationOfComponentOfCashFlowsFromUsedInFinancingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_41">Change in intra-group balances</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="duration_CY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_IdentificationOfComponentOfCashFlowsFromUsedInFinancingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_41">Change in intra-group balances</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="duration_LY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_IdentificationOfComponentOfCashFlowsFromUsedInFinancingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_41">Change in intra-group balances</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="duration_CY_C_IdentificationOfComponentOfCashFlowsFromUsedInFinancingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_42">Change in borrowings</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="duration_LY_C_IdentificationOfComponentOfCashFlowsFromUsedInFinancingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_42">Change in borrowings</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="duration_CY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_IdentificationOfComponentOfCashFlowsFromUsedInFinancingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_42">Change in borrowings</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="duration_LY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_IdentificationOfComponentOfCashFlowsFromUsedInFinancingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_42">Change in borrowings</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="duration_CY_C_IdentificationOfComponentOfCashFlowsFromUsedInFinancingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_41" decimals="-3" unitRef="DKK">0</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="duration_LY_C_IdentificationOfComponentOfCashFlowsFromUsedInFinancingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_41" decimals="-3" unitRef="DKK">0</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="duration_CY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_IdentificationOfComponentOfCashFlowsFromUsedInFinancingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_41" decimals="-3" unitRef="DKK">-35268000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities>
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<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="duration_CY_C_IdentificationOfComponentOfCashFlowsFromUsedInFinancingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_42" decimals="-3" unitRef="DKK">65986000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="duration_LY_C_IdentificationOfComponentOfCashFlowsFromUsedInFinancingActivitiesDimension_ifrs-dk_componentOfCashFlowsIdentifier_only_42" decimals="-3" unitRef="DKK">-104126000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities>
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<ifrs-full:CashFlowsFromUsedInFinancingActivities contextRef="duration_CY_C_only" decimals="-3" unitRef="DKK">65986000</ifrs-full:CashFlowsFromUsedInFinancingActivities>
<ifrs-full:CashFlowsFromUsedInFinancingActivities contextRef="duration_LY_C_only" decimals="-3" unitRef="DKK">-109686000</ifrs-full:CashFlowsFromUsedInFinancingActivities>
<ifrs-full:CashFlowsFromUsedInFinancingActivities contextRef="duration_CY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">24626000</ifrs-full:CashFlowsFromUsedInFinancingActivities>
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<ifrs-dk:CashFlowsFromDiscontinuedOperations contextRef="duration_LY_C_only" decimals="-3" unitRef="DKK">171000</ifrs-dk:CashFlowsFromDiscontinuedOperations>
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<ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges contextRef="duration_CY_C_only" decimals="-3" unitRef="DKK">4943000</ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges>
<ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges contextRef="duration_LY_C_only" decimals="-3" unitRef="DKK">-41438000</ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges>
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<ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents contextRef="duration_LY_ConsolidatedAndSeparateFinancialStatementsAxis_ifrs-full_SeparateMember_only" decimals="-3" unitRef="DKK">0</ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents>
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