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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<xbrli:endDate>2019-12-31</xbrli:endDate>
</xbrli:period>
<xbrli:scenario>
<xbrldi:typedMember dimension="cmn:IdentificationOfAuditorDimension">
<cmn:auditorIdentificer>0</cmn:auditorIdentificer>
</xbrldi:typedMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:context id="ctx31">
<xbrli:entity>
<xbrli:identifier scheme="http://www.dcca.dk/cvr">10007127</xbrli:identifier>
</xbrli:entity>
<xbrli:period>
<xbrli:startDate>2019-01-01</xbrli:startDate>
<xbrli:endDate>2019-12-31</xbrli:endDate>
</xbrli:period>
<xbrli:scenario>
<xbrldi:typedMember dimension="cmn:IdentificationOfAuditorDimension">
<cmn:auditorIdentificer>1</cmn:auditorIdentificer>
</xbrldi:typedMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:unit id="vDKK">
<xbrli:measure>iso4217:DKK</xbrli:measure>
</xbrli:unit>
<xbrli:unit id="share">
<xbrli:measure>xbrli:shares</xbrli:measure>
</xbrli:unit>
<ifrs-full:IntangibleAssetsAndGoodwill contextRef="ctx1" unitRef="vDKK" decimals="-6">1926000000</ifrs-full:IntangibleAssetsAndGoodwill>
<ifrs-full:LandAndBuildings contextRef="ctx1" unitRef="vDKK" decimals="-6">4056000000</ifrs-full:LandAndBuildings>
<ifrs-dk:PlantAndMachinery contextRef="ctx1" unitRef="vDKK" decimals="-6">4501000000</ifrs-dk:PlantAndMachinery>
<ifrs-dk:Equipment contextRef="ctx1" unitRef="vDKK" decimals="-6">993000000</ifrs-dk:Equipment>
<ifrs-dk:PropertyPlantAndEquipmentInProgressAndPrepaymentsForPropertyPlantAndEquipment contextRef="ctx1" unitRef="vDKK" decimals="-6">662000000</ifrs-dk:PropertyPlantAndEquipmentInProgressAndPrepaymentsForPropertyPlantAndEquipment>
<ifrs-full:DeferredTaxAssets contextRef="ctx1" unitRef="vDKK" decimals="-6">1161000000</ifrs-full:DeferredTaxAssets>
<ifrs-full:OtherNoncurrentFinancialAssets contextRef="ctx1" unitRef="vDKK" decimals="-6">22000000</ifrs-full:OtherNoncurrentFinancialAssets>
<ifrs-full:InvestmentsInAssociates contextRef="ctx1" unitRef="vDKK" decimals="-6">37000000</ifrs-full:InvestmentsInAssociates>
<ifrs-full:OtherNoncurrentReceivables contextRef="ctx1" unitRef="vDKK" decimals="-6">29000000</ifrs-full:OtherNoncurrentReceivables>
<ifrs-full:NoncurrentAssets contextRef="ctx1" unitRef="vDKK" decimals="-6">13387000000</ifrs-full:NoncurrentAssets>
<ifrs-full:Inventories contextRef="ctx1" unitRef="vDKK" decimals="-6">2613000000</ifrs-full:Inventories>
<ifrs-full:CurrentTradeReceivables contextRef="ctx1" unitRef="vDKK" decimals="-6">2864000000</ifrs-full:CurrentTradeReceivables>
<ifrs-dk:CurrentContractAssets contextRef="ctx1" unitRef="vDKK" decimals="-6">243000000</ifrs-dk:CurrentContractAssets>
<ifrs-full:CurrentTaxAssetsCurrent contextRef="ctx1" unitRef="vDKK" decimals="-6">273000000</ifrs-full:CurrentTaxAssetsCurrent>
<ifrs-full:OtherCurrentReceivables contextRef="ctx1" unitRef="vDKK" decimals="-6">269000000</ifrs-full:OtherCurrentReceivables>
<ifrs-full:CurrentFinancialAssets contextRef="ctx1" unitRef="vDKK" decimals="-6">15000000</ifrs-full:CurrentFinancialAssets>
<ifrs-full:Cash contextRef="ctx1" unitRef="vDKK" decimals="-6">711000000</ifrs-full:Cash>
<ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale contextRef="ctx1" unitRef="vDKK" decimals="-6">62000000</ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale>
<ifrs-full:CurrentAssets contextRef="ctx1" unitRef="vDKK" decimals="-6">7050000000</ifrs-full:CurrentAssets>
<ifrs-full:Assets contextRef="ctx1" unitRef="vDKK" decimals="-6">20437000000</ifrs-full:Assets>
<ifrs-full:IssuedCapital contextRef="ctx1" unitRef="vDKK" decimals="-6">582000000</ifrs-full:IssuedCapital>
<ifrs-full:ReserveOfChangeInValueOfForeignCurrencyBasisSpreads contextRef="ctx1" unitRef="vDKK" decimals="-6">57000000</ifrs-full:ReserveOfChangeInValueOfForeignCurrencyBasisSpreads>
<ifrs-full:ReserveOfCashFlowHedges contextRef="ctx1" unitRef="vDKK" decimals="-6">19000000</ifrs-full:ReserveOfCashFlowHedges>
<ifrs-full:RetainedEarnings contextRef="ctx1" unitRef="vDKK" decimals="-6">10810000000</ifrs-full:RetainedEarnings>
<ifrs-full:EquityAttributableToOwnersOfParent contextRef="ctx1" unitRef="vDKK" decimals="-6">11468000000</ifrs-full:EquityAttributableToOwnersOfParent>
<ifrs-full:NoncontrollingInterests contextRef="ctx1" unitRef="vDKK" decimals="-6">12000000</ifrs-full:NoncontrollingInterests>
<ifrs-full:Equity contextRef="ctx1" unitRef="vDKK" decimals="-6">11480000000</ifrs-full:Equity>
<ifrs-full:DeferredTaxLiabilities contextRef="ctx1" unitRef="vDKK" decimals="-6">879000000</ifrs-full:DeferredTaxLiabilities>
<ifrs-full:NoncurrentProvisions contextRef="ctx1" unitRef="vDKK" decimals="-6">115000000</ifrs-full:NoncurrentProvisions>
<ifrs-dk:NoncurrentContractLiabilities contextRef="ctx1" unitRef="vDKK" decimals="-6">0</ifrs-dk:NoncurrentContractLiabilities>
<ifrs-full:NoncurrentFinanceLeaseLiabilities contextRef="ctx1" unitRef="vDKK" decimals="-6">453000000</ifrs-full:NoncurrentFinanceLeaseLiabilities>
<ifrs-full:NoncurrentFinancialLiabilities contextRef="ctx1" unitRef="vDKK" decimals="-6">2775000000</ifrs-full:NoncurrentFinancialLiabilities>
<ifrs-full:OtherNoncurrentLiabilities contextRef="ctx1" unitRef="vDKK" decimals="-6">0</ifrs-full:OtherNoncurrentLiabilities>
<ifrs-full:NoncurrentLiabilities contextRef="ctx1" unitRef="vDKK" decimals="-6">4222000000</ifrs-full:NoncurrentLiabilities>
<ifrs-full:CurrentFinanceLeaseLiabilities contextRef="ctx1" unitRef="vDKK" decimals="-6">163000000</ifrs-full:CurrentFinanceLeaseLiabilities>
<ifrs-full:CurrentProvisions contextRef="ctx1" unitRef="vDKK" decimals="-6">128000000</ifrs-full:CurrentProvisions>
<ifrs-full:CurrentFinancialLiabilities contextRef="ctx1" unitRef="vDKK" decimals="-6">1411000000</ifrs-full:CurrentFinancialLiabilities>
<ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers contextRef="ctx1" unitRef="vDKK" decimals="-6">1117000000</ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers>
<ifrs-dk:CurrentContractLiabilities contextRef="ctx1" unitRef="vDKK" decimals="-6">74000000</ifrs-dk:CurrentContractLiabilities>
<ifrs-full:CurrentTaxLiabilitiesCurrent contextRef="ctx1" unitRef="vDKK" decimals="-6">431000000</ifrs-full:CurrentTaxLiabilitiesCurrent>
<ifrs-full:OtherCurrentLiabilities contextRef="ctx1" unitRef="vDKK" decimals="-6">1411000000</ifrs-full:OtherCurrentLiabilities>
<ifrs-full:CurrentLiabilities contextRef="ctx1" unitRef="vDKK" decimals="-6">4735000000</ifrs-full:CurrentLiabilities>
<ifrs-full:Liabilities contextRef="ctx1" unitRef="vDKK" decimals="-6">8957000000</ifrs-full:Liabilities>
<ifrs-full:EquityAndLiabilities contextRef="ctx1" unitRef="vDKK" decimals="-6">20437000000</ifrs-full:EquityAndLiabilities>
<ifrs-full:CashAndCashEquivalents contextRef="ctx1" unitRef="vDKK" decimals="-6">711000000</ifrs-full:CashAndCashEquivalents>
<ifrs-full:IntangibleAssetsAndGoodwill contextRef="ctx2" unitRef="vDKK" decimals="-6">2130000000</ifrs-full:IntangibleAssetsAndGoodwill>
<ifrs-full:LandAndBuildings contextRef="ctx2" unitRef="vDKK" decimals="-6">2779000000</ifrs-full:LandAndBuildings>
<ifrs-dk:PlantAndMachinery contextRef="ctx2" unitRef="vDKK" decimals="-6">4452000000</ifrs-dk:PlantAndMachinery>
<ifrs-dk:Equipment contextRef="ctx2" unitRef="vDKK" decimals="-6">619000000</ifrs-dk:Equipment>
<ifrs-dk:PropertyPlantAndEquipmentInProgressAndPrepaymentsForPropertyPlantAndEquipment contextRef="ctx2" unitRef="vDKK" decimals="-6">1848000000</ifrs-dk:PropertyPlantAndEquipmentInProgressAndPrepaymentsForPropertyPlantAndEquipment>
<ifrs-full:DeferredTaxAssets contextRef="ctx2" unitRef="vDKK" decimals="-6">938000000</ifrs-full:DeferredTaxAssets>
<ifrs-full:OtherNoncurrentFinancialAssets contextRef="ctx2" unitRef="vDKK" decimals="-6">20000000</ifrs-full:OtherNoncurrentFinancialAssets>
<ifrs-full:InvestmentsInAssociates contextRef="ctx2" unitRef="vDKK" decimals="-6">42000000</ifrs-full:InvestmentsInAssociates>
<ifrs-full:OtherNoncurrentReceivables contextRef="ctx2" unitRef="vDKK" decimals="-6">34000000</ifrs-full:OtherNoncurrentReceivables>
<ifrs-full:NoncurrentAssets contextRef="ctx2" unitRef="vDKK" decimals="-6">12862000000</ifrs-full:NoncurrentAssets>
<ifrs-full:Inventories contextRef="ctx2" unitRef="vDKK" decimals="-6">2820000000</ifrs-full:Inventories>
<ifrs-full:CurrentTradeReceivables contextRef="ctx2" unitRef="vDKK" decimals="-6">2606000000</ifrs-full:CurrentTradeReceivables>
<ifrs-dk:CurrentContractAssets contextRef="ctx2" unitRef="vDKK" decimals="-6">279000000</ifrs-dk:CurrentContractAssets>
<ifrs-full:CurrentTaxAssetsCurrent contextRef="ctx2" unitRef="vDKK" decimals="-6">174000000</ifrs-full:CurrentTaxAssetsCurrent>
<ifrs-full:OtherCurrentReceivables contextRef="ctx2" unitRef="vDKK" decimals="-6">219000000</ifrs-full:OtherCurrentReceivables>
<ifrs-full:CurrentFinancialAssets contextRef="ctx2" unitRef="vDKK" decimals="-6">14000000</ifrs-full:CurrentFinancialAssets>
<ifrs-full:Cash contextRef="ctx2" unitRef="vDKK" decimals="-6">723000000</ifrs-full:Cash>
<ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale contextRef="ctx2" unitRef="vDKK" decimals="-6">0</ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale>
<ifrs-full:CurrentAssets contextRef="ctx2" unitRef="vDKK" decimals="-6">6835000000</ifrs-full:CurrentAssets>
<ifrs-full:Assets contextRef="ctx2" unitRef="vDKK" decimals="-6">19697000000</ifrs-full:Assets>
<ifrs-full:IssuedCapital contextRef="ctx2" unitRef="vDKK" decimals="-6">594000000</ifrs-full:IssuedCapital>
<ifrs-full:ReserveOfChangeInValueOfForeignCurrencyBasisSpreads contextRef="ctx2" unitRef="vDKK" decimals="-6">-86000000</ifrs-full:ReserveOfChangeInValueOfForeignCurrencyBasisSpreads>
<ifrs-full:ReserveOfCashFlowHedges contextRef="ctx2" unitRef="vDKK" decimals="-6">-26000000</ifrs-full:ReserveOfCashFlowHedges>
<ifrs-full:RetainedEarnings contextRef="ctx2" unitRef="vDKK" decimals="-6">10943000000</ifrs-full:RetainedEarnings>
<ifrs-full:EquityAttributableToOwnersOfParent contextRef="ctx2" unitRef="vDKK" decimals="-6">11425000000</ifrs-full:EquityAttributableToOwnersOfParent>
<ifrs-full:NoncontrollingInterests contextRef="ctx2" unitRef="vDKK" decimals="-6">13000000</ifrs-full:NoncontrollingInterests>
<ifrs-full:Equity contextRef="ctx2" unitRef="vDKK" decimals="-6">11438000000</ifrs-full:Equity>
<ifrs-full:DeferredTaxLiabilities contextRef="ctx2" unitRef="vDKK" decimals="-6">892000000</ifrs-full:DeferredTaxLiabilities>
<ifrs-full:NoncurrentProvisions contextRef="ctx2" unitRef="vDKK" decimals="-6">132000000</ifrs-full:NoncurrentProvisions>
<ifrs-dk:NoncurrentContractLiabilities contextRef="ctx2" unitRef="vDKK" decimals="-6">199000000</ifrs-dk:NoncurrentContractLiabilities>
<ifrs-full:NoncurrentFinanceLeaseLiabilities contextRef="ctx2" unitRef="vDKK" decimals="-6">0</ifrs-full:NoncurrentFinanceLeaseLiabilities>
<ifrs-full:NoncurrentFinancialLiabilities contextRef="ctx2" unitRef="vDKK" decimals="-6">1474000000</ifrs-full:NoncurrentFinancialLiabilities>
<ifrs-full:OtherNoncurrentLiabilities contextRef="ctx2" unitRef="vDKK" decimals="-6">37000000</ifrs-full:OtherNoncurrentLiabilities>
<ifrs-full:NoncurrentLiabilities contextRef="ctx2" unitRef="vDKK" decimals="-6">2734000000</ifrs-full:NoncurrentLiabilities>
<ifrs-full:CurrentFinanceLeaseLiabilities contextRef="ctx2" unitRef="vDKK" decimals="-6">0</ifrs-full:CurrentFinanceLeaseLiabilities>
<ifrs-full:CurrentProvisions contextRef="ctx2" unitRef="vDKK" decimals="-6">97000000</ifrs-full:CurrentProvisions>
<ifrs-full:CurrentFinancialLiabilities contextRef="ctx2" unitRef="vDKK" decimals="-6">1899000000</ifrs-full:CurrentFinancialLiabilities>
<ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers contextRef="ctx2" unitRef="vDKK" decimals="-6">1418000000</ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers>
<ifrs-dk:CurrentContractLiabilities contextRef="ctx2" unitRef="vDKK" decimals="-6">175000000</ifrs-dk:CurrentContractLiabilities>
<ifrs-full:CurrentTaxLiabilitiesCurrent contextRef="ctx2" unitRef="vDKK" decimals="-6">575000000</ifrs-full:CurrentTaxLiabilitiesCurrent>
<ifrs-full:OtherCurrentLiabilities contextRef="ctx2" unitRef="vDKK" decimals="-6">1361000000</ifrs-full:OtherCurrentLiabilities>
<ifrs-full:CurrentLiabilities contextRef="ctx2" unitRef="vDKK" decimals="-6">5525000000</ifrs-full:CurrentLiabilities>
<ifrs-full:Liabilities contextRef="ctx2" unitRef="vDKK" decimals="-6">8259000000</ifrs-full:Liabilities>
<ifrs-full:EquityAndLiabilities contextRef="ctx2" unitRef="vDKK" decimals="-6">19697000000</ifrs-full:EquityAndLiabilities>
<ifrs-full:CashAndCashEquivalents contextRef="ctx2" unitRef="vDKK" decimals="-6">723000000</ifrs-full:CashAndCashEquivalents>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx3" xml:lang="da">Net profit</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx3" unitRef="vDKK" decimals="-6">3155000000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx4" xml:lang="da">Net profit</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx4" unitRef="vDKK" decimals="-6">3227000000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-full:OtherAdjustmentsForNoncashItems contextRef="ctx5" unitRef="vDKK" decimals="-6">1321000000</ifrs-full:OtherAdjustmentsForNoncashItems>
<ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities contextRef="ctx5" unitRef="vDKK" decimals="-6">1116000000</ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities>
<ifrs-full:InterestReceivedClassifiedAsOperatingActivities contextRef="ctx5" unitRef="vDKK" decimals="-6">64000000</ifrs-full:InterestReceivedClassifiedAsOperatingActivities>
<ifrs-full:InterestPaidClassifiedAsOperatingActivities contextRef="ctx5" unitRef="vDKK" decimals="-6">88000000</ifrs-full:InterestPaidClassifiedAsOperatingActivities>
<ifrs-dk:DecreaseIncreaseInReceivables contextRef="ctx5" unitRef="vDKK" decimals="-6">-238000000</ifrs-dk:DecreaseIncreaseInReceivables>
<ifrs-dk:DecreaseIncreaseInInventories contextRef="ctx5" unitRef="vDKK" decimals="-6">-218000000</ifrs-dk:DecreaseIncreaseInInventories>
<ifrs-full:CashFlowsFromUsedInOperatingActivities contextRef="ctx5" unitRef="vDKK" decimals="-6">3196000000</ifrs-full:CashFlowsFromUsedInOperatingActivities>
<ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities contextRef="ctx5" unitRef="vDKK" decimals="-6">135000000</ifrs-full:PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities>
<ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities contextRef="ctx5" unitRef="vDKK" decimals="-6">862000000</ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities>
<ifrs-full:ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities contextRef="ctx5" unitRef="vDKK" decimals="-6">6000000</ifrs-full:ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities>
<ifrs-full:CashFlowsFromUsedInInvestingActivities contextRef="ctx5" unitRef="vDKK" decimals="-6">-561000000</ifrs-full:CashFlowsFromUsedInInvestingActivities>
<ifrs-dk:FreeCashFlowsFromUsedInOperatingInvestingActivities contextRef="ctx5" unitRef="vDKK" decimals="-6">2635000000</ifrs-dk:FreeCashFlowsFromUsedInOperatingInvestingActivities>
<ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities contextRef="ctx5" unitRef="vDKK" decimals="-6">2003000000</ifrs-full:ProceedsFromBorrowingsClassifiedAsFinancingActivities>
<ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities contextRef="ctx5" unitRef="vDKK" decimals="-6">1175000000</ifrs-full:RepaymentsOfBorrowingsClassifiedAsFinancingActivities>
<ifrs-full:PaymentsOfFinanceLeaseLiabilitiesClassifiedAsFinancingActivities contextRef="ctx5" unitRef="vDKK" decimals="-6">108000000</ifrs-full:PaymentsOfFinanceLeaseLiabilitiesClassifiedAsFinancingActivities>
<ifrs-dk:PurchaseSaleOfTreasuryAssets contextRef="ctx5" unitRef="vDKK" decimals="-6">2000000000</ifrs-dk:PurchaseSaleOfTreasuryAssets>
<ifrs-full:DividendsPaidClassifiedAsFinancingActivities contextRef="ctx5" unitRef="vDKK" decimals="-6">1439000000</ifrs-full:DividendsPaidClassifiedAsFinancingActivities>
<ifrs-full:CashFlowsFromUsedInFinancingActivities contextRef="ctx5" unitRef="vDKK" decimals="-6">-2644000000</ifrs-full:CashFlowsFromUsedInFinancingActivities>
<ifrs-full:IncreaseDecreaseInCashAndCashEquivalents contextRef="ctx5" unitRef="vDKK" decimals="-6">-9000000</ifrs-full:IncreaseDecreaseInCashAndCashEquivalents>
<ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents contextRef="ctx5" unitRef="vDKK" decimals="-6">-3000000</ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents>
<ifrs-full:Revenue contextRef="ctx5" unitRef="vDKK" decimals="-6">14374000000</ifrs-full:Revenue>
<ifrs-full:CostOfSales contextRef="ctx5" unitRef="vDKK" decimals="-6">6420000000</ifrs-full:CostOfSales>
<ifrs-full:GrossProfit contextRef="ctx5" unitRef="vDKK" decimals="-6">7954000000</ifrs-full:GrossProfit>
<ifrs-dk:SalesCostAndDistributionsCosts contextRef="ctx5" unitRef="vDKK" decimals="-6">1631000000</ifrs-dk:SalesCostAndDistributionsCosts>
<ifrs-full:ResearchAndDevelopmentExpense contextRef="ctx5" unitRef="vDKK" decimals="-6">1966000000</ifrs-full:ResearchAndDevelopmentExpense>
<ifrs-full:AdministrativeExpense contextRef="ctx5" unitRef="vDKK" decimals="-6">838000000</ifrs-full:AdministrativeExpense>
<ifrs-full:OtherIncome contextRef="ctx5" unitRef="vDKK" decimals="-6">520000000</ifrs-full:OtherIncome>
<ifrs-full:ProfitLossFromOperatingActivities contextRef="ctx5" unitRef="vDKK" decimals="-6">4039000000</ifrs-full:ProfitLossFromOperatingActivities>
<ifrs-dk:ProfitLossInAssociates contextRef="ctx5" unitRef="vDKK" decimals="-6">-5000000</ifrs-dk:ProfitLossInAssociates>
<ifrs-full:FinanceIncome contextRef="ctx5" unitRef="vDKK" decimals="-6">112000000</ifrs-full:FinanceIncome>
<ifrs-full:FinanceCosts contextRef="ctx5" unitRef="vDKK" decimals="-6">347000000</ifrs-full:FinanceCosts>
<ifrs-full:ProfitLossBeforeTax contextRef="ctx5" unitRef="vDKK" decimals="-6">3799000000</ifrs-full:ProfitLossBeforeTax>
<ifrs-full:IncomeTaxExpenseContinuingOperations contextRef="ctx5" unitRef="vDKK" decimals="-6">644000000</ifrs-full:IncomeTaxExpenseContinuingOperations>
<ifrs-full:ProfitLoss contextRef="ctx5" unitRef="vDKK" decimals="-6">3155000000</ifrs-full:ProfitLoss>
<ifrs-full:ProfitLossAttributableToOwnersOfParent contextRef="ctx5" unitRef="vDKK" decimals="-6">3154000000</ifrs-full:ProfitLossAttributableToOwnersOfParent>
<ifrs-full:ProfitLossAttributableToNoncontrollingInterests contextRef="ctx5" unitRef="vDKK" decimals="-6">1000000</ifrs-full:ProfitLossAttributableToNoncontrollingInterests>
<ifrs-full:BasicEarningsLossPerShare contextRef="ctx5" unitRef="share" decimals="4">11.0600</ifrs-full:BasicEarningsLossPerShare>
<ifrs-full:DilutedEarningsLossPerShare contextRef="ctx5" unitRef="share" decimals="4">11.0100</ifrs-full:DilutedEarningsLossPerShare>
<ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax contextRef="ctx5" unitRef="vDKK" decimals="-6">143000000</ifrs-full:GainsLossesOnExchangeDifferencesOnTranslationBeforeTax>
<ifrs-full:IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome contextRef="ctx5" unitRef="vDKK" decimals="-6">1000000</ifrs-full:IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome>
<ifrs-full:GainsLossesOnCashFlowHedgesBeforeTax contextRef="ctx5" unitRef="vDKK" decimals="-6">-107000000</ifrs-full:GainsLossesOnCashFlowHedgesBeforeTax>
<ifrs-full:IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome contextRef="ctx5" unitRef="vDKK" decimals="-6">12000000</ifrs-full:IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome>
<ifrs-dk:TransferToFinanceCostBeforeTax contextRef="ctx5" unitRef="vDKK" decimals="-6">164000000</ifrs-dk:TransferToFinanceCostBeforeTax>
<ifrs-full:OtherComprehensiveIncome contextRef="ctx5" unitRef="vDKK" decimals="-6">187000000</ifrs-full:OtherComprehensiveIncome>
<ifrs-full:ComprehensiveIncome contextRef="ctx5" unitRef="vDKK" decimals="-6">3342000000</ifrs-full:ComprehensiveIncome>
<ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent contextRef="ctx5" unitRef="vDKK" decimals="-6">3342000000</ifrs-full:ComprehensiveIncomeAttributableToOwnersOfParent>
<ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests contextRef="ctx5" unitRef="vDKK" decimals="-6">0</ifrs-full:ComprehensiveIncomeAttributableToNoncontrollingInterests>
<gsd:NameAndSurnameOfChairmanOfGeneralMeeting contextRef="ctx5" xml:lang="da">Niels Kornerup</gsd:NameAndSurnameOfChairmanOfGeneralMeeting>
<gsd:DateOfGeneralMeeting contextRef="ctx5">2020-02-26</gsd:DateOfGeneralMeeting>
<gsd:NameOfReportingEntity contextRef="ctx5" xml:lang="da">Novozymes A/S</gsd:NameOfReportingEntity>
<gsd:AddressOfReportingEntityStreetName contextRef="ctx5" xml:lang="da">Krogshoejvej</gsd:AddressOfReportingEntityStreetName>
<gsd:AddressOfReportingEntityStreetBuildingIdentifier contextRef="ctx5" xml:lang="da">36</gsd:AddressOfReportingEntityStreetBuildingIdentifier>
<gsd:AddressOfReportingEntityPostCodeIdentifier contextRef="ctx5" xml:lang="da">2880</gsd:AddressOfReportingEntityPostCodeIdentifier>
<gsd:AddressOfReportingEntityDistrictName contextRef="ctx5" xml:lang="da">Bagsvaerd</gsd:AddressOfReportingEntityDistrictName>
<gsd:AddressOfReportingEntityCountry contextRef="ctx5" xml:lang="da">Denmark</gsd:AddressOfReportingEntityCountry>
<gsd:IdentificationNumberCvrOfReportingEntity contextRef="ctx5">10007127</gsd:IdentificationNumberCvrOfReportingEntity>
<gsd:ReportingPeriodStartDate contextRef="ctx5">2019-01-01</gsd:ReportingPeriodStartDate>
<gsd:ReportingPeriodEndDate contextRef="ctx5">2019-12-31</gsd:ReportingPeriodEndDate>
<sob:StatementByExecutiveAndSupervisoryBoards contextRef="ctx5" xml:lang="da"><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 of the Board of Directors and Executive Management</td></tr></table></sob:StatementByExecutiveAndSupervisoryBoards>
<sob:IdentificationOfApprovedAnnualReport contextRef="ctx5" xml:lang="da"><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 have today considered and adopted the Annual Report of Novozymes A/S for the financial year January 1 â December 31, 2019.</td></tr></table></sob:IdentificationOfApprovedAnnualReport>
<sob:ConfirmationThatAnnualReportIsPresentedInAccordanceWithRequirementsProvidedForByLegislationAnyStandardsAndRequirementsProvidedByArticlesOfAssociationOrByAgreement contextRef="ctx5" xml:lang="da"><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 Consolidated Financial Statements have been prepared in accordance with International Financial Reporting Standards as adopted by the EU and further requirements in the Danish Financial Statements Act, and the Parent Company Financial Statements have been prepared in accordance with the Danish Financial Statements Act. Managementâs Review has been prepared in accordance with the Danish Financial Statements Act.</td></tr></table></sob:ConfirmationThatAnnualReportIsPresentedInAccordanceWithRequirementsProvidedForByLegislationAnyStandardsAndRequirementsProvidedByArticlesOfAssociationOrByAgreement>
<sob:ConfirmationThatFinancialStatementGivesTrueAndFairViewOfAssetsLiabilitiesEquityFinancialPositionAndResults contextRef="ctx5" xml:lang="da"><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 accounting policies used are appropriate, and the Groupâs internal controls relevant to preparation and presentation of the Annual Report are adequate. The Consolidated Financial Statements and the Parent Company Financial Statements give a true and fair view of the financial position at December 31, 2019 of the Group and the Parent Company and of the results of the Group and the Parent Company operations and consolidated cash flows for the financial year January 1 â December 31, 2019.</td></tr></table></sob:ConfirmationThatFinancialStatementGivesTrueAndFairViewOfAssetsLiabilitiesEquityFinancialPositionAndResults>
<sob:ManagementsStatementAboutManagementsReview contextRef="ctx5" xml:lang="da"><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, Managementâs Review includes a true and fair account of the development in the operations and financial circumstances of the Group and the Parent Company, of the results for the year, and of the financial position of the Group and the Parent Company as well as a description of the most significant risks and elements of uncertainty facing the Group and the Parent Company.</td></tr></table></sob:ManagementsStatementAboutManagementsReview>
<sob:ConfirmationThatSupplementaryReportsGiveTrueAndFairViewInAccordanceWithGenerallyAcceptedGuidelinesForSuchReports contextRef="ctx5" xml:lang="da"><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, Novozymes A/S adheres to the AA1000 AccountAbility principles (2008), and environmental, social and governance data are stated in accordance with the accounting policies.</td></tr></table></sob:ConfirmationThatSupplementaryReportsGiveTrueAndFairViewInAccordanceWithGenerallyAcceptedGuidelinesForSuchReports>
<sob:RecommendationForApprovalOfAnnualReportByGeneralMeeting contextRef="ctx5" xml:lang="da"><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 at the Annual Shareholdersâ Meeting.</td></tr></table></sob:RecommendationForApprovalOfAnnualReportByGeneralMeeting>
<sob:PlaceOfSignatureOfStatement contextRef="ctx5" xml:lang="da">Bagsvaerd</sob:PlaceOfSignatureOfStatement>
<sob:DateOfApprovalOfAnnualReport contextRef="ctx5">2020-01-23</sob:DateOfApprovalOfAnnualReport>
<arr:IndependentAuditorsReportsAudit contextRef="ctx5" xml:lang="da"><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:IndependentAuditorsReportsAudit>
<arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements contextRef="ctx5" xml:lang="da"><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 Novozymes A/S</td></tr></table></arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements>
<arr:OpinionOnAuditedFinancialStatements contextRef="ctx5" xml:lang="da"><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 give a true and fair view of the Groupâs financial position at December 31, 2019 and of the results of the Groupâs operations and cash flows for the financial year January 1 to December 31, 2019 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">Moreover, in our opinion, the Parent Company Financial Statements give a true and fair view of the Parent Companyâs financial position at December 31, 2019 and of the results of the Parent Companyâs operations for the financial year January 1 to December 31, 2019 in accordance with the Danish Financial Statements Act.</td></tr><tr><td colspan="1">In our opinion, the Consolidated environmental data and the Consolidated social and governance data for the financial year January 1 to December 31, 2019 are prepared in accordance with the accounting policies for the Consolidated environmental data and the Consolidated social and governance data.</td></tr><tr><td colspan="1">Our opinions are consistent with our Auditorâs Long-form Report to the Audit Committee and the Board of Directors.</td></tr><tr><td colspan="1">What we have audited</td></tr><tr><td colspan="1">The Consolidated Financial Statements of Novozymes A/S, pages 51-59 and 64-114, for the financial year January 1 to December 31, 2019 comprise the consolidated income statement and statement of comprehensive income, the consolidated balance sheet, the consolidated statement of shareholdersâ equity, the consolidated statement of cash flows and the notes, including significant accounting policies.</td></tr><tr><td colspan="1">The Parent Company Financial Statements of Novozymes A/S, pages 142-156, for the financial year January 1 to December 31, 2019 comprise the income statement, the balance sheet, the statement of changes in equity and the notes, including significant accounting policies.</td></tr><tr><td colspan="1">Collectively referred to as the âFinancial Statementsâ.</td></tr><tr><td colspan="1">The Consolidated environmental data and the Consolidated social and governance data of Novozymes A/S, pages 60-63 and 115-135, for the financial year January 1 to December 31, 2019 comprise the environmental performance and consolidated data, the social and governance performance and consolidated data and the related notes, including significant accounting policies.</td></tr><tr><td colspan="1">These are collectively referred to as the âEnvironmental, Social and Governance Data.â</td></tr></table></arr:OpinionOnAuditedFinancialStatements>
<arr:DescriptionOfQualificationsOfAuditedFinancialStatements contextRef="ctx5" xml:lang="da"><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 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 the International Ethics Standards Board for Accountantsâ Code of Ethics for Professional Accountants (IESBA Code) and the additional requirements applicable in Denmark. We have also fulfilled our other ethical responsibilities in accordance with the IESBA Code.</td></tr><tr><td colspan="1">To the best of our knowledge and belief, prohibited non-audit services referred to in Article 5(1) of Regulation (EU) No 537/2014 were not provided.</td></tr><tr><td colspan="1">Appointment</td></tr><tr><td colspan="1">We were appointed as auditors of Novozymes A/S for the first time after the initial public offering on 21 March 2001. We have been reappointed annually by shareholder resolution for a total period of uninterrupted engagement of 19 years, including the financial year 2019.</td></tr></table></arr:DescriptionOfQualificationsOfAuditedFinancialStatements>
<arr:KeyAuditMattersAudit contextRef="ctx5" xml:lang="da"><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 2019.</td></tr><tr><td colspan="2">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 addressed the key audit matter</td></tr><tr><td colspan="2">Partnerships and collaboration agreements</td></tr><tr><td>Novozymes has entered into several partnerships and collaboration agreements.</td><td>We tested relevant controls including applicable information systems and monitoring controls implemented to ensure that profit-sharing, expenses and intangible assets from the partnerships and collaboration agreements are recognized and measured appropriately on an ongoing basis.</td></tr><tr><td>Some of these partnerships and collaborations include complex mechanisms for sharing profit, expenses and intangible assets. Due to the complexity of the agreements, there are several uncertainties in relation to the interpretation of the agreements.</td><td>We assessed the accounting treatment applied by Management of the termination of the BioAg Alliance, including measuring initial fair value of the intangible assets taken over due to the termination, impairment of assets and cost associated with the termination.</td></tr><tr><td>The termination of The BioAg Alliance in 2019 also includes several uncertainties and assessments of deferred income, related intangible assets and accruals.</td><td>We read the new agreements, assessed Managementâs interpretation of the new agreements and discussed the initial financial impact.</td></tr><tr><td>We focused on this area because the partnerships and collaboration agreements and the related accounting treatment of profit-sharing, expenses and intangible assets are complex and because establishing appropriate accruals, initial measuring of fair value of intangible assets and impairment testing requires significant judgement and estimation by Management.</td><td>We tested Managementâs calculation of profit-sharing and related accruals etc. under the applicable agreements, as well as reconciled inputs and key assumptions â for both internal and external sources â and we assessed the accuracy of the accruals in previous periods.</td></tr><tr><td>Refer to Note 2.2, 2.5, 3.1, 4.2 and 4.4 to the Consolidated Financial Statements.</td><td>We assessed whether the disclosures in relation to revenue and intangible assets are appropriate and met the requirements of accounting standards.</td></tr></table></arr:KeyAuditMattersAudit>
<arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements contextRef="ctx5" xml:lang="da"><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 on Managementâs Review</td></tr><tr><td colspan="1">Management is responsible for Managementâs Review, pages 3-50.</td></tr><tr><td colspan="1">Our opinion on the Financial Statements and on the Environmental, Social and Governance Data does not cover Managementâs 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 Managementâs Review and, in doing so, consider whether Managementâs 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 Managementâs 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, Managementâs Review is in accordance with the Consolidated Financial Statements, the Parent Company Financial Statements and the Environmental, Social and Governance Data, and has been prepared in accordance with the requirements of the Danish Financial Statements Act. We did not identify any material misstatement in Managementâs Review.</td></tr></table></arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements>
<arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements contextRef="ctx5" xml:lang="da"><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 and the Environmental, Social and Governance Data</td></tr><tr><td colspan="1">Management is responsible for the preparation of Consolidated 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 and for the preparation of Parent Company Financial Statements that give a true and fair view in accordance with the Danish Financial Statements Act, and 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">Furthermore, Management is responsible for preparing the Environmental, Social and Governance Data in accordance with the accounting policies applied, and for such internal control as Management determines is necessary to enable the preparation of Environmental, Social and Governance Data 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 the 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 the Parent Company or to cease operations, or has no realistic alternative but to do so.</td></tr></table></arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements>
<arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed contextRef="ctx5" xml:lang="da"><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 and the Environmental, Social and Governance Data</td></tr><tr><td colspan="1">Our objectives are to obtain reasonable assurance about whether the Financial Statements and the Environmental, Social and Governance Data 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 on the basis of these Financial Statements and the Environmental, Social and Governance Data.</td></tr><tr><td colspan="1">As part of an audit in accordance with ISAs and the additional requirements 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 and the Environmental, Social and Governance Data, 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 Parent 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 and the Environmental, Social and Governance Data, including the disclosures, and whether the Financial Statements and the Environmental, Social and Governance Data 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, environmental, social and governance information of the entities or business activities within the Group to express an opinion on the Consolidated Financial Statements and the Environmental, Social and Governance Data. 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="ctx5" xml:lang="da">Hellerup</arr:SignatureOfAuditorsPlace>
<arr:SignatureOfAuditorsDate contextRef="ctx5">2020-01-23</arr:SignatureOfAuditorsDate>
<mrv:StatementOfCorporateSocialResponsibility contextRef="ctx5" xml:lang="da"><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">Furthermore, under the Danish Financial Statements Act (sections 99a and 99b), it is mandatory for large companies to report on corporate responsibility and equal opportunities. As a member of the UN Global Compact, Novozymes prepares a Communication on Progress, which is available at https://www.novozymes.com/en/about-us/sustainability/transparency-accountability. Together with our integrated financial, environmental and social and governance reporting, the Communication on Progress meets both the requirements for reporting on corporate responsibility and equal opportunities, and the UN Global Compactâs advanced reporting criteria</td></tr></table></mrv:StatementOfCorporateSocialResponsibility>
<mrv:StatementOfTargetFiguresAndPoliciesForTheUnderrepresentedGender contextRef="ctx5" xml:lang="da"><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">Furthermore, under the Danish Financial Statements Act (sections 99a and 99b), it is mandatory for large companies to report on corporate responsibility and equal opportunities. As a member of the UN Global Compact, Novozymes prepares a Communication on Progress, which is available at https://www.novozymes.com/en/about-us/sustainability/transparency-accountability. Together with our integrated financial, environmental and social and governance reporting, the Communication on Progress meets both the requirements for reporting on corporate responsibility and equal opportunities, and the UN Global Compactâs advanced reporting criteria</td></tr></table></mrv:StatementOfTargetFiguresAndPoliciesForTheUnderrepresentedGender>
<mrv:CorporateGovernanceReport contextRef="ctx5" xml:lang="da"><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="7">Corporate governance</td></tr><tr><td colspan="7">A proactive and transparent corporate governance structure promotes responsible sustainable business behavior and long-term value creation.</td></tr><tr><td colspan="7">Board composition and responsibilities</td></tr><tr><td colspan="7">In accordance with Danish legislation, Novozymes has a two-tier management system comprising the Board of Directors and the Executive Leadership Team, with no individual being a member of both. The division of responsibilities between the Board of Directors and the Executive Leadership Team is clearly outlined and described in the Rules of Procedure for the Board of Directors and the Rules of Procedure for the Executive Leadership Team, both available at Novozymes.com.</td></tr><tr><td colspan="7">The Boardâs main responsibilities are to</td></tr><tr><td colspan="7">⢠Ensure the right management and organizational structure</td></tr><tr><td colspan="7">⢠Supervise financial, social and environmental performance, and the Executive Leadership Teamâs operational management of the company</td></tr><tr><td colspan="7">⢠Supervise the overall management and strategic development of the company</td></tr><tr><td colspan="7">Novozymesâ Articles of Association require the Board of Directors to have from four to eight members elected at the Annual Shareholdersâ Meeting. The Board currently has five shareholder-elected members. Individuals are elected for terms of one year and cannot be elected or re-elected after reaching the age of 70.</td></tr><tr><td colspan="7">Audit Committee meetings</td></tr><tr><td>Committee member</td><td>Meetings attended</td></tr><tr><td>Lars Green</td><td>3</td></tr><tr><td>Agnete Raaschou-Nielsen</td><td>4</td></tr><tr><td>Jørgen Buhl Rasmussen</td><td>4</td></tr><tr><td colspan="7">Nomination and Remuneration Committee meetings</td></tr><tr><td>Committee member</td><td>Meetings attended</td></tr><tr><td>Jørgen Buhl Rasmussen</td><td>7</td></tr><tr><td>Agnete Raaschou-Nielsen</td><td>7</td></tr><tr><td>Kim Stratton</td><td>6</td></tr><tr><td colspan="7">Nominations are based on an evaluation of factors such as competencies, diversity, independence and performance.</td></tr><tr><td colspan="7">In accordance with Danish law, the Board of Directors also has three employee-elected members, who serve four-year terms. The Board of Directors is accountable to the companyâs shareholders for the management of the company. The composition of the Board of Directors must therefore be such that the combined competencies of the Board enable it to inspire, guide and oversee the companyâs development, and diligently address and resolve the issues and challenges facing the company at any time.</td></tr><tr><td colspan="7">To ensure the right competencies and promote diversity, the following targets have been se tfor the composition of the Board of Directors</td></tr><tr><td colspan="7">1. At least half of the shareholder-elected board members shall be independent as defined in the Danish Recommendations on Corporate Governance</td></tr><tr><td colspan="7">2. At least 40% of the shareholder-elected board members shall have substantial international experience from the management of large corporations or institutions headquartered outside Denmark</td></tr><tr><td colspan="7">3. One-third or more of the shareholder-elected board members shall be female, and one-third or more of the shareholder-elected board members shall be male</td></tr><tr><td colspan="7">All three targets were met in 2019. The competencies are defined in a competency profile that specifies the requirements for personal characteristics, skills and experience. The individual competencies of the members of the Board of Directors are shown in the presentation of the Board of Directors.</td></tr><tr><td colspan="7">Governance structure</td></tr><tr><td colspan="7">In accordance with the Articles of Association and the Rules of Procedure for the Board of Directors, the Board has a Chairmanship consisting of two members â the Chairman and the Vice Chairman â who are responsible for assisting the Board of Directors in matters concerning the Executive Leadership Teamâs operational management of the company and for reporting back to the Board of Directors. The Chairmanship is also responsible for planning and preparing the meetings of the Board of Directors.</td></tr><tr><td colspan="7">The Board of Directors has two committees: the Nomination and Remuneration Committee and the Audit Committee. The Nomination and Remuneration Committee assists the Board of Directors with the nomination of candidates for the Board of Directors, board committees and the Executive Leadership Team as well as with the remuneration of board members, board committee members and members of the Executive Leadership Team. The Audit Committee assists the Board of Directors with monitoring aspects relating to accounting, auditing, risks, internal controls and financial, environmental and social reporting. Further information about both committees can be found at Novozymes.com.</td></tr><tr><td colspan="7">As part of the internal control system, all cases of identified fraud and all concerns raised are investigated and reported to the Audit Committee and the Board of Directors. A total of 42 cases were investigated and reported in 2019. None of the investigated fraud cases had a material financial impact on Novozymes. Further information on fraud can be found in Note 8.3 to consolidated social and governance data.</td></tr><tr><td colspan="7">Charters and recommendations</td></tr><tr><td colspan="7">In laying down the management principles for Novozymes, the Board of Directors has followed the Recommendations on Corporate Governance that form part of the disclosure requirements applicable to companies listed on Nasdaq Copenhagen.</td></tr><tr><td colspan="7">These recommendations are available at corporategovernance.dk. A detailed review of Novozymesâ position on each of the recommendations and a description of the internal control and risk management system relating to financial reporting can be found in the statutory report on corporate governance prepared pursuant to section 107b of the Danish Financial Statements Act at https:// investors.novozymes.com/investors/corporategovernance/ articles-of-association-and-reportson- corporate-governance/default.aspx. These recommendations require companies to explain any exceptions. Novozymes follows 45 of the 47 recommendations, the two exceptions being</td></tr><tr><td colspan="7">⢠The remuneration policy for the Executive Leadership Team does not contain a specific clause pertaining to the repayment of variable remuneration components paid on the basis of misstated information, as Novozymes considers the rules under Danish law to be sufficient in such cases (Recommendation 4.1.2)</td></tr><tr><td colspan="7">⢠Due to the limitations imposed by the Novo Nordisk Foundationâs Articles of Association and Novozymesâ ownership structure, the Board of Directors reserves the right in certain circumstances to reject takeover bids without consulting shareholders (Recommendation 1.3.1)</td></tr><tr><td colspan="7">Furthermore, under the Danish Financial Statements Act (sections 99a and 99b), it is mandatory for large companies to report on corporate responsibility and equal opportunities. As a member of the UN Global Compact, Novozymes prepares a Communication on Progress, which is available at https://www.novozymes.com/en/about-us/sustainability/transparency-accountability. Together with our integrated financial, environmental and social and governance reporting, the Communication on Progress meets both the requirements for reporting on corporate responsibility and equal opportunities, and the UN Global Compactâs advanced reporting criteria.</td></tr><tr><td colspan="7">Novozymes also works within the parameters of Touch the World, the companyâs values and commitments, and has committed to the principles of the UN Global Compact and the UN Convention on Biological Diversity.</td></tr><tr><td colspan="7">Other Board-related information</td></tr><tr><td colspan="7">The Board of Directors held 12 meetings in 2019, with an overall attendance rate of 97%.</td></tr><tr><td colspan="7">Any amendments to the Articles of Association require that shareholders representing at least two-thirds of the total number of votes in the company are represented at a shareholdersâ meeting, and that at least two-thirds of the votes cast, as well as two-thirds of the voting capital represented at the meeting, are in favor of the proposal to amend the Articles of Association.</td></tr><tr><td colspan="7">The Annual Shareholdersâ Meeting has authorized the Board of Directors to allow the company to acquire treasury stock on an ongoing basis, provided the nominal value of the companyâs total holding of treasury stock does not exceed 10% of its share capital at any time, cf. section 198 of the Danish Companies Act.</td></tr><tr><td colspan="7">The purchase price must not deviate by more than 10% from the price quoted on Nasdaq Copenhagen A/S at the date of acquisition. This authorization applies until April 1, 2020. In addition, the Board of Directors is authorized to reduce the share capital.</td></tr><tr><td colspan="7">Each year, one of the responsibilities of the Board of Directors is to assess whether the capital and share structure of Novozymes is optimal. The Board of Directors maintains that the share structure with A and B common stock is the best way to safeguard Novozymesâ longterm strategy and development to the benefit of the companyâs shareholders and other stakeholders. Regarding capital structure, Novozymes will continue to favor a rather conservative balance sheet, as reflected by a target for net interest-bearing debt of around 1x EBITDA. This target was met in 2019.</td></tr><tr><td colspan="7">Novozymes is party to a number of partnership contracts that can be terminated by the other party in the event of significant changes to the ownership or control of Novozymes. A few of these contracts contain provisions that restrict Novozymesâ licenses to use specific forms of technology in such situations.</td></tr><tr><td colspan="7">Evaluation of the Board of Directors</td></tr><tr><td colspan="7">In 2019, the annual evaluation of the Board of Directors was carried out as interviews between the Chairman and each Board member and member of the Executive Leadership Team. The evaluation revealed a good performance by the Board of Directors and good collaboration between the Board of Directors and the Executive Leadership Team. The subsequent recommendations were to have a high focus on strategy implementation and on forecasting.</td></tr><tr><td>Board member</td><td>Audit Committee member</td><td>Nomination and Remuneration Committee member</td><td>Nationality</td><td>Board meetings attended</td><td>Board tenure</td><td>Election period</td></tr><tr><td>Jørgen Buhl Rasmussen (Chairman)1,2</td><td>x</td><td>x</td><td>Danish</td><td>12 out of 12</td><td>2011</td><td>1 year</td></tr><tr><td>Agnete Raaschou-Nielsen (Vice Chairman)1,2</td><td>x</td><td>x</td><td>Danish</td><td>12 out of 12</td><td>2011</td><td>1 year</td></tr><tr><td>Lars Green1,4</td><td /><td /><td>Danish</td><td>7 out of 7</td><td>2014</td><td>1 year</td></tr><tr><td>Kasim Kutay1</td><td /><td /><td>British</td><td>12 out of 12</td><td>2017</td><td>1 year</td></tr><tr><td>Patricia Malarkey5</td><td /><td /><td>British</td><td>0 out of 1</td><td>2018</td><td>1 year</td></tr><tr><td>Kim Stratton1,2</td><td /><td>x</td><td>Australian</td><td>11 out of 12</td><td>2017</td><td>1 year</td></tr><tr><td>Mathias Uhlén1</td><td /><td /><td>Swedish</td><td>11 out of 12</td><td>2007</td><td>1 year</td></tr><tr><td>Lena Bech Holskov3</td><td /><td /><td>Danish</td><td>12 out of 12</td><td>2013</td><td>4 years</td></tr><tr><td>Anders Hentze Knudsen3</td><td /><td /><td>Danish</td><td>12 out of 12</td><td>2013</td><td>4 years</td></tr><tr><td>Lars Bo Køppler3</td><td /><td /><td>Danish</td><td>12 out of 12</td><td>2010</td><td>4 years</td></tr><tr><td colspan="7">1. Elected at the Shareholdersâ Meeting.</td></tr><tr><td colspan="7">2. Independent.</td></tr><tr><td colspan="7">3. Employee representative.</td></tr><tr><td colspan="7">4. Resigned from the Board on August 9, 2019</td></tr><tr><td colspan="7">5. Resigned from the Board on January 31, 2019</td></tr></table></mrv:CorporateGovernanceReport>
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