Assets
| Type | Time | Amount | Unit |
|---|---|---|---|
| ifrs-full:Assets | 2019-12-31 | 149607751 | vDKK |
| ifrs-full:Assets | 2019-12-31 | 130040000 | vDKK |
| ifrs-full:Assets | 2019-12-31 | 124799000 | vDKK |
| ifrs-full:Assets | 2018-12-31 | 130040182 | vDKK |
Revenue
| Type | Start date | End date | Amount | Unit |
|---|---|---|---|---|
| ifrs-full:Revenue | 2019-01-01 | 2019-12-31 | 363935809 | vDKK |
| ifrs-full:Revenue | 2019-01-01 | 2019-12-31 | 341939000 | vDKK |
| ifrs-full:Revenue | 2019-01-01 | 2019-12-31 | 317443000 | vDKK |
| ifrs-full:Revenue | 2018-01-01 | 2018-12-31 | 341939233 | vDKK |
XML
See the xml submitted here:
XML: http://regnskaber.virk.dk/54008183/amNsb3VkczovLzAzLzdmLzMxL2IwL2ViLzY0ZDktNDQxZS04NTVjLTc3NTgzMzMyN2IzYg.xml
Separator
The full data:
<?xml version="1.0" encoding="UTF-8"?><!-- Version: 1.1.884.0 --><!-- Document created: 07-05-2020 17:55:43 --><!-- Created by: XBRL Wizard, EasyX --><xbrli:xbrl xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns:entry="http://xbrl.dcca.dk/entryBalanceSheetAccountFormIncomeStatementByNature" xmlns:gsd="http://xbrl.dcca.dk/gsd" xmlns:tax="http://xbrl.dcca.dk/tax" xmlns:tch="http://xbrl.dcca.dk/tch" xmlns:gen="http://xbrl.org/2008/generic" xmlns:ref="http://www.xbrl.org/2006/ref" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:variable="http://xbrl.org/2008/variable" xmlns:eogs="http://xbrl.dcca.dk/eogs" xmlns:xl="http://www.xbrl.org/2003/XLink" xmlns:dst="http://xbrl.dcca.dk/dst" xmlns:arr="http://xbrl.dcca.dk/arr" xmlns:valm="http://xbrl.org/2010/message/validation" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:msg="http://xbrl.org/2010/message" xmlns:fsa="http://xbrl.dcca.dk/fsa" xmlns:cmn="http://xbrl.dcca.dk/cmn" xmlns:label="http://xbrl.org/2008/label" xmlns:mrv="http://xbrl.dcca.dk/mrv" xmlns:sob="http://xbrl.dcca.dk/sob" xsi:schemaLocation="http://xbrl.org/2006/xbrldi http://www.xbrl.org/2006/xbrldi-2006.xsd">
<link:schemaRef xlink:type="simple" xlink:href="http://archprod.service.eogs.dk/taxonomy/20191001/entryDanishGAAPBalanceSheetAccountFormIncomeStatementByNatureIncludingManagementsReviewStatisticsAndTax20191001.xsd"/>
<xbrli:context id="ctx1">
<xbrli:entity>
<xbrli:identifier scheme="http://www.dcca.dk/cvr">38180045</xbrli:identifier>
</xbrli:entity>
<xbrli:period>
<xbrli:startDate>2019-01-01</xbrli:startDate>
<xbrli:endDate>2019-12-31</xbrli:endDate>
</xbrli:period>
</xbrli:context>
<xbrli:context id="ctx2">
<xbrli:entity>
<xbrli:identifier scheme="http://www.dcca.dk/cvr">38180045</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:explicitMember dimension="cmn:RetrospectiveInformationDimension">cmn:PreviousYearMember</xbrldi:explicitMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:context id="ctx3">
<xbrli:entity>
<xbrli:identifier scheme="http://www.dcca.dk/cvr">38180045</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:explicitMember dimension="cmn:RetrospectiveInformationDimension">cmn:TwoYearsAgoMember</xbrldi:explicitMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:context id="ctx4">
<xbrli:entity>
<xbrli:identifier scheme="http://www.dcca.dk/cvr">38180045</xbrli:identifier>
</xbrli:entity>
<xbrli:period>
<xbrli:instant>2019-12-31</xbrli:instant>
</xbrli:period>
</xbrli:context>
<xbrli:context id="ctx5">
<xbrli:entity>
<xbrli:identifier scheme="http://www.dcca.dk/cvr">38180045</xbrli:identifier>
</xbrli:entity>
<xbrli:period>
<xbrli:instant>2019-12-31</xbrli:instant>
</xbrli:period>
<xbrli:scenario>
<xbrldi:explicitMember dimension="cmn:RetrospectiveInformationDimension">cmn:PreviousYearMember</xbrldi:explicitMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:context id="ctx6">
<xbrli:entity>
<xbrli:identifier scheme="http://www.dcca.dk/cvr">38180045</xbrli:identifier>
</xbrli:entity>
<xbrli:period>
<xbrli:instant>2019-12-31</xbrli:instant>
</xbrli:period>
<xbrli:scenario>
<xbrldi:explicitMember dimension="cmn:RetrospectiveInformationDimension">cmn:TwoYearsAgoMember</xbrldi:explicitMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:context id="ctx7">
<xbrli:entity>
<xbrli:identifier scheme="http://www.dcca.dk/cvr">38180045</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="mrv:IdentificationOfKeyFigureOrFinancialRatioDimension">
<mrv:keyFigureOrFinancialRatioIdentifier>0</mrv:keyFigureOrFinancialRatioIdentifier>
</xbrldi:typedMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:context id="ctx8">
<xbrli:entity>
<xbrli:identifier scheme="http://www.dcca.dk/cvr">38180045</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:explicitMember dimension="cmn:RetrospectiveInformationDimension">cmn:PreviousYearMember</xbrldi:explicitMember>
<xbrldi:typedMember dimension="mrv:IdentificationOfKeyFigureOrFinancialRatioDimension">
<mrv:keyFigureOrFinancialRatioIdentifier>1</mrv:keyFigureOrFinancialRatioIdentifier>
</xbrldi:typedMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:context id="ctx9">
<xbrli:entity>
<xbrli:identifier scheme="http://www.dcca.dk/cvr">38180045</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:explicitMember dimension="cmn:RetrospectiveInformationDimension">cmn:TwoYearsAgoMember</xbrldi:explicitMember>
<xbrldi:typedMember dimension="mrv:IdentificationOfKeyFigureOrFinancialRatioDimension">
<mrv:keyFigureOrFinancialRatioIdentifier>2</mrv:keyFigureOrFinancialRatioIdentifier>
</xbrldi:typedMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:context id="ctx10">
<xbrli:entity>
<xbrli:identifier scheme="http://www.dcca.dk/cvr">38180045</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="mrv:IdentificationOfKeyFigureOrFinancialRatioDimension">
<mrv:keyFigureOrFinancialRatioIdentifier>3</mrv:keyFigureOrFinancialRatioIdentifier>
</xbrldi:typedMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:context id="ctx11">
<xbrli:entity>
<xbrli:identifier scheme="http://www.dcca.dk/cvr">38180045</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:explicitMember dimension="cmn:RetrospectiveInformationDimension">cmn:PreviousYearMember</xbrldi:explicitMember>
<xbrldi:typedMember dimension="mrv:IdentificationOfKeyFigureOrFinancialRatioDimension">
<mrv:keyFigureOrFinancialRatioIdentifier>4</mrv:keyFigureOrFinancialRatioIdentifier>
</xbrldi:typedMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:context id="ctx12">
<xbrli:entity>
<xbrli:identifier scheme="http://www.dcca.dk/cvr">38180045</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:explicitMember dimension="cmn:RetrospectiveInformationDimension">cmn:TwoYearsAgoMember</xbrldi:explicitMember>
<xbrldi:typedMember dimension="mrv:IdentificationOfKeyFigureOrFinancialRatioDimension">
<mrv:keyFigureOrFinancialRatioIdentifier>5</mrv:keyFigureOrFinancialRatioIdentifier>
</xbrldi:typedMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:context id="ctx13">
<xbrli:entity>
<xbrli:identifier scheme="http://www.dcca.dk/cvr">38180045</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="mrv:IdentificationOfKeyFigureOrFinancialRatioDimension">
<mrv:keyFigureOrFinancialRatioIdentifier>6</mrv:keyFigureOrFinancialRatioIdentifier>
</xbrldi:typedMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:context id="ctx14">
<xbrli:entity>
<xbrli:identifier scheme="http://www.dcca.dk/cvr">38180045</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:explicitMember dimension="cmn:RetrospectiveInformationDimension">cmn:PreviousYearMember</xbrldi:explicitMember>
<xbrldi:typedMember dimension="mrv:IdentificationOfKeyFigureOrFinancialRatioDimension">
<mrv:keyFigureOrFinancialRatioIdentifier>7</mrv:keyFigureOrFinancialRatioIdentifier>
</xbrldi:typedMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:context id="ctx15">
<xbrli:entity>
<xbrli:identifier scheme="http://www.dcca.dk/cvr">38180045</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:explicitMember dimension="cmn:RetrospectiveInformationDimension">cmn:TwoYearsAgoMember</xbrldi:explicitMember>
<xbrldi:typedMember dimension="mrv:IdentificationOfKeyFigureOrFinancialRatioDimension">
<mrv:keyFigureOrFinancialRatioIdentifier>8</mrv:keyFigureOrFinancialRatioIdentifier>
</xbrldi:typedMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:context id="ctx16">
<xbrli:entity>
<xbrli:identifier scheme="http://www.dcca.dk/cvr">38180045</xbrli:identifier>
</xbrli:entity>
<xbrli:period>
<xbrli:startDate>2018-01-01</xbrli:startDate>
<xbrli:endDate>2018-12-31</xbrli:endDate>
</xbrli:period>
</xbrli:context>
<xbrli:context id="ctx17">
<xbrli:entity>
<xbrli:identifier scheme="http://www.dcca.dk/cvr">38180045</xbrli:identifier>
</xbrli:entity>
<xbrli:period>
<xbrli:instant>2018-12-31</xbrli:instant>
</xbrli:period>
</xbrli:context>
<xbrli:context id="ctx18">
<xbrli:entity>
<xbrli:identifier scheme="http://www.dcca.dk/cvr">38180045</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:explicitMember dimension="fsa:ResultDistributionDimension">fsa:RetainedEarningsMember</xbrldi:explicitMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:context id="ctx19">
<xbrli:entity>
<xbrli:identifier scheme="http://www.dcca.dk/cvr">38180045</xbrli:identifier>
</xbrli:entity>
<xbrli:period>
<xbrli:startDate>2018-01-01</xbrli:startDate>
<xbrli:endDate>2018-12-31</xbrli:endDate>
</xbrli:period>
<xbrli:scenario>
<xbrldi:explicitMember dimension="fsa:ResultDistributionDimension">fsa:RetainedEarningsMember</xbrldi:explicitMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:context id="ctx20">
<xbrli:entity>
<xbrli:identifier scheme="http://www.dcca.dk/cvr">38180045</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:IdentificationOfMemberOfExecutiveBoardDimension">
<cmn:memberOfBoardIdentifier>0</cmn:memberOfBoardIdentifier>
</xbrldi:typedMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:context id="ctx21">
<xbrli:entity>
<xbrli:identifier scheme="http://www.dcca.dk/cvr">38180045</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:IdentificationOfMemberOfSupervisoryBoardDimension">
<cmn:memberOfBoardIdentifier>0</cmn:memberOfBoardIdentifier>
</xbrldi:typedMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:context id="ctx22">
<xbrli:entity>
<xbrli:identifier scheme="http://www.dcca.dk/cvr">38180045</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:IdentificationOfMemberOfSupervisoryBoardDimension">
<cmn:memberOfBoardIdentifier>1</cmn:memberOfBoardIdentifier>
</xbrldi:typedMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:context id="ctx23">
<xbrli:entity>
<xbrli:identifier scheme="http://www.dcca.dk/cvr">38180045</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:IdentificationOfMemberOfSupervisoryBoardDimension">
<cmn:memberOfBoardIdentifier>2</cmn:memberOfBoardIdentifier>
</xbrldi:typedMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:context id="ctx24">
<xbrli:entity>
<xbrli:identifier scheme="http://www.dcca.dk/cvr">38180045</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:auditorIdentifier>0</cmn:auditorIdentifier>
</xbrldi:typedMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:context id="ctx25">
<xbrli:entity>
<xbrli:identifier scheme="http://www.dcca.dk/cvr">38180045</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:auditorIdentifier>1</cmn:auditorIdentifier>
</xbrldi:typedMember>
</xbrli:scenario>
</xbrli:context>
<xbrli:unit id="vDKK">
<xbrli:measure>iso4217:DKK</xbrli:measure>
</xbrli:unit>
<xbrli:unit id="pure">
<xbrli:measure>xbrli:pure</xbrli:measure>
</xbrli:unit>
<fsa:ClassOfReportingEntity contextRef="ctx1">Regnskabsklasse C, mellemstor virksomhed</fsa:ClassOfReportingEntity>
<gsd:ReportingPeriodStartDate contextRef="ctx1">2019-01-01</gsd:ReportingPeriodStartDate>
<gsd:ReportingPeriodEndDate contextRef="ctx1">2019-12-31</gsd:ReportingPeriodEndDate>
<fsa:Revenue contextRef="ctx1" unitRef="vDKK" decimals="0">363935809</fsa:Revenue>
<fsa:ProfitLossFromOrdinaryOperatingActivities contextRef="ctx1" unitRef="vDKK" decimals="0">8811037</fsa:ProfitLossFromOrdinaryOperatingActivities>
<fsa:ResultsFromNetFinancials contextRef="ctx1" unitRef="vDKK" decimals="-3">-511000</fsa:ResultsFromNetFinancials>
<fsa:ProfitLoss contextRef="ctx1" unitRef="vDKK" decimals="0">5251810</fsa:ProfitLoss>
<fsa:InvestmentInPropertyPlantAndEquipment contextRef="ctx1" unitRef="vDKK" decimals="-3">0</fsa:InvestmentInPropertyPlantAndEquipment>
<fsa:AverageNumberOfEmployees contextRef="ctx1" unitRef="pure" decimals="3">65.000</fsa:AverageNumberOfEmployees>
<mrv:OperatingMargin contextRef="ctx1" unitRef="pure" decimals="3">0.024</mrv:OperatingMargin>
<mrv:GrossMargin contextRef="ctx1" unitRef="pure" decimals="3">0.371</mrv:GrossMargin>
<mrv:ReturnOnEquity contextRef="ctx1" unitRef="pure" decimals="3">0.413</mrv:ReturnOnEquity>
<mrv:EquityRatio contextRef="ctx1" unitRef="pure" decimals="3">0.103</mrv:EquityRatio>
<mrv:InformationOnCalculationOfKeyFiguresAndFinancialRatios contextRef="ctx1" 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">Financial ratios are calculated in accordance with the Danish Finance Society's recommendations on the calculation of financial ratios. For terms and definitions, please see the accounting policies.</td></tr><tr><td colspan="1">The key figures appearing from the survey have been calculated as follows</td></tr><tr><td colspan="1">Operating margin: Operating profit (EBIT) x 100 / Revenue</td></tr><tr><td colspan="1">Gross margin ratio: Gross margin x 100 / Revenue</td></tr><tr><td colspan="1">EBITDA-margin: Earnings before interest, taxes and amortisations x 100 / Revenue</td></tr><tr><td colspan="1">Return on assets: Results from primary activities (EBIT) x 100 / Average assets</td></tr><tr><td colspan="1">Current ratio: Current assets x 100 / Short-term liabilities</td></tr><tr><td colspan="1">Equity ratio: Equity, closing balance x 100 / Assets in total, closing balance</td></tr><tr><td colspan="1">Return on equity: Results for the year x 100 / Average equity</td></tr></table></mrv:InformationOnCalculationOfKeyFiguresAndFinancialRatios>
<fsa:CostOfSales contextRef="ctx1" unitRef="vDKK" decimals="0">28314565</fsa:CostOfSales>
<fsa:OtherOperatingIncome contextRef="ctx1" unitRef="vDKK" decimals="0">112489</fsa:OtherOperatingIncome>
<fsa:OtherExternalExpenses contextRef="ctx1" unitRef="vDKK" decimals="0">200847323</fsa:OtherExternalExpenses>
<fsa:GrossResult contextRef="ctx1" unitRef="vDKK" decimals="0">134886410</fsa:GrossResult>
<fsa:EmployeeBenefitsExpense contextRef="ctx1" unitRef="vDKK" decimals="0">125898522</fsa:EmployeeBenefitsExpense>
<fsa:DepreciationAmortisationExpenseAndImpairmentLossesOfPropertyPlantAndEquipmentAndIntangibleAssetsRecognisedInProfitOrLoss contextRef="ctx1" unitRef="vDKK" decimals="0">176851</fsa:DepreciationAmortisationExpenseAndImpairmentLossesOfPropertyPlantAndEquipmentAndIntangibleAssetsRecognisedInProfitOrLoss>
<fsa:OtherFinanceIncome contextRef="ctx1" unitRef="vDKK" decimals="0">398140</fsa:OtherFinanceIncome>
<fsa:OtherFinanceExpenses contextRef="ctx1" unitRef="vDKK" decimals="0">909538</fsa:OtherFinanceExpenses>
<fsa:ProfitLossFromOrdinaryActivitiesBeforeTax contextRef="ctx1" unitRef="vDKK" decimals="0">8299639</fsa:ProfitLossFromOrdinaryActivitiesBeforeTax>
<fsa:TaxExpense contextRef="ctx1" unitRef="vDKK" decimals="0">3047829</fsa:TaxExpense>
<fsa:StatementOfChangesInEquity contextRef="ctx1" 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 width="100%" colspan="4" align="left" valign="middle" >Statement of changes in equity</td></tr><tr><td width="100%" colspan="4" align="left" valign="middle" >All amounts in DKK.</td></tr><tr><td width="44%" ></td><td width="15%" colspan="1" align="right" valign="middle" ><b>Share capital</b></td><td width="27%" colspan="1" align="right" valign="middle" ><b>Retained earnings</b></td><td width="14%" colspan="1" align="right" valign="middle" ><b>In total</b></td></tr><tr><td colspan="4"></td></tr><tr><td width="44%" colspan="1" align="left" valign="middle" >Equity 1 January 2018</td><td width="15%" align="right" valign="middle" >500.000</td><td width="27%" align="right" valign="middle" >5.378.615</td><td width="14%" align="right" valign="middle" >5.878.615</td></tr><tr><td width="44%" colspan="1" align="left" valign="middle" >Profit or loss for the year brought forward</td><td width="15%" align="right" valign="middle" >0</td><td width="27%" align="right" valign="middle" >4.213.051</td><td width="14%" align="right" valign="middle" >4.213.051</td></tr><tr><td width="44%" colspan="1" align="left" valign="middle" >Equity 1 January 2019</td><td width="15%" align="right" valign="middle" >500.000</td><td width="27%" align="right" valign="middle" >9.591.666</td><td width="14%" align="right" valign="middle" >10.091.666</td></tr><tr><td width="44%" colspan="1" align="left" valign="middle" >Profit or loss for the year brought forward</td><td width="15%" align="right" valign="middle" >0</td><td width="27%" align="right" valign="middle" >5.251.810</td><td width="14%" align="right" valign="middle" >5.251.810</td></tr><tr><td width="44%" ></td><td width="15%" align="right" valign="middle" ><b>500.000</b></td><td width="27%" align="right" valign="middle" ><b>14.843.476</b></td><td width="14%" align="right" valign="middle" ><b>15.343.476</b></td></tr></table></fsa:StatementOfChangesInEquity>
<fsa:DisclosureOfEmployeeBenefitsExpense contextRef="ctx1" 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 width="100%" colspan="3" align="left" valign="middle" ></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Staff costs</b></td></tr><tr><td width="56%" colspan="1" align="left" valign="middle" >All amounts in DKK.</td><td width="30%" align="right" valign="middle" >2019</td><td width="14%" align="right" valign="middle" >2018</td></tr><tr><td width="56%" colspan="1" align="left" valign="middle" >Salaries and wages</td><td width="30%" align="right" valign="middle" >103.917.040</td><td width="14%" align="right" valign="middle" >94.992.291</td></tr><tr><td width="56%" colspan="1" align="left" valign="middle" >Pensions</td><td width="30%" align="right" valign="middle" >8.560.321</td><td width="14%" align="right" valign="middle" >8.132.551</td></tr><tr><td width="56%" colspan="1" align="left" valign="middle" >Other social security costs</td><td width="30%" align="right" valign="middle" >563.050</td><td width="14%" align="right" valign="middle" >471.183</td></tr><tr><td width="56%" colspan="1" align="left" valign="middle" >Other staff costs</td><td width="30%" align="right" valign="middle" >12.858.111</td><td width="14%" align="right" valign="middle" >9.291.862</td></tr><tr><td width="56%" ></td><td width="30%" align="right" valign="middle" ><b>125.898.522</b></td><td width="14%" align="right" valign="middle" ><b>112.887.887</b></td></tr><tr><td colspan="3"></td></tr><tr><td width="56%" colspan="1" align="left" valign="middle" >Average number of full-time employees</td><td width="30%" align="right" valign="middle" >65</td><td width="14%" align="right" valign="middle" >69</td></tr><tr><td colspan="3"></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >By reference to section 98b(3), (ii), of the Danish Financial Statements Act, remuneration to Management is not disclosed.</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Incentive programmes</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Management participates in Novo Nordisk A/S's incentive programme.</td></tr><tr><td colspan="3"></td></tr></table></fsa:DisclosureOfEmployeeBenefitsExpense>
<fsa:DisclosureOfOtherFinanceIncome contextRef="ctx1" 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 width="100%" colspan="3" align="left" valign="middle" ><b>Financial income</b></td></tr><tr><td width="56%" colspan="1" align="left" valign="middle" >Interest income, group entities</td><td width="30%" align="right" valign="middle" >137.597</td><td width="14%" align="right" valign="middle" >177.154</td></tr><tr><td width="56%" colspan="1" align="left" valign="middle" >Other financial income</td><td width="30%" align="right" valign="middle" >260.543</td><td width="14%" align="right" valign="middle" >244.455</td></tr><tr><td width="56%" ></td><td width="30%" align="right" valign="middle" ><b>398.140</b></td><td width="14%" align="right" valign="middle" ><b>421.609</b></td></tr><tr><td colspan="3"></td></tr></table></fsa:DisclosureOfOtherFinanceIncome>
<fsa:DisclosureOfOtherFinanceExpenses contextRef="ctx1" 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 width="100%" colspan="3" align="left" valign="middle" ><b>Financial expenses</b></td></tr><tr><td width="56%" colspan="1" align="left" valign="middle" >Interest expenses, group entities</td><td width="30%" align="right" valign="middle" >385.025</td><td width="14%" align="right" valign="middle" >165.522</td></tr><tr><td width="56%" colspan="1" align="left" valign="middle" >Other financial expenses</td><td width="30%" align="right" valign="middle" >524.513</td><td width="14%" align="right" valign="middle" >169.575</td></tr><tr><td width="56%" ></td><td width="30%" align="right" valign="middle" ><b>909.538</b></td><td width="14%" align="right" valign="middle" ><b>335.097</b></td></tr><tr><td colspan="3"></td></tr></table></fsa:DisclosureOfOtherFinanceExpenses>
<fsa:DisclosureOfTaxExpenses contextRef="ctx1" 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 width="100%" colspan="3" align="left" valign="middle" ><b>Tax for the year</b></td></tr><tr><td width="56%" colspan="1" align="left" valign="middle" >Estimated tax charge for the year</td><td width="30%" align="right" valign="middle" >2.231.614</td><td width="14%" align="right" valign="middle" >1.766.715</td></tr><tr><td width="56%" colspan="1" align="left" valign="middle" >Deferred tax adjustments in the year</td><td width="30%" align="right" valign="middle" >816.215</td><td width="14%" align="right" valign="middle" >268.955</td></tr><tr><td width="56%" ></td><td width="30%" align="right" valign="middle" ><b>3.047.829</b></td><td width="14%" align="right" valign="middle" ><b>2.035.670</b></td></tr><tr><td colspan="3"></td></tr></table></fsa:DisclosureOfTaxExpenses>
<fsa:DisclosureOfPropertyPlantAndEquipment contextRef="ctx1" 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 width="100%" colspan="2" align="left" valign="middle" ><b>Property, plant and equipment</b></td></tr><tr><td colspan="2"></td></tr><tr><td width="65%" ></td><td width="35%" colspan="1" align="right" valign="middle" ><b>Fixtures and fittings, other plant and equipment</b></td></tr><tr><td width="65%" colspan="1" align="left" valign="middle" >Cost at 1. januar 2019</td><td width="35%" align="right" valign="middle" >1.768.507</td></tr><tr><td width="65%" colspan="1" align="left" valign="middle" ><b>Cost at 31. december 2019</b></td><td width="35%" align="right" valign="middle" ><b>1.768.507</b></td></tr><tr><td width="65%" colspan="1" align="left" valign="middle" >Impairment losses and depreciation at 1. januar 2019</td><td width="35%" align="right" valign="middle" >261.915</td></tr><tr><td width="65%" colspan="1" align="left" valign="middle" >Depreciation</td><td width="35%" align="right" valign="middle" >176.851</td></tr><tr><td width="65%" colspan="1" align="left" valign="middle" ><b>Impairment losses and depreciation at 31. december 2019</b></td><td width="35%" align="right" valign="middle" ><b>438.766</b></td></tr><tr><td colspan="2"></td></tr><tr><td width="65%" colspan="1" align="left" valign="middle" ><b>Carrying amount at 31. december 2019</b></td><td width="35%" align="right" valign="middle" ><b>1.329.741</b></td></tr><tr><td colspan="2"></td></tr></table></fsa:DisclosureOfPropertyPlantAndEquipment>
<fsa:InformationOnCurrentDeferredTaxAssets contextRef="ctx1" 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 width="100%" colspan="3" align="left" valign="middle" ><b>Deferred tax assets</b></td></tr><tr><td width="56%" colspan="1" align="left" valign="middle" >Deferred tax assets 1 January 2019</td><td width="30%" align="right" valign="middle" >1.814.417</td><td width="14%" align="right" valign="middle" >2.083.372</td></tr><tr><td width="56%" colspan="1" align="left" valign="middle" >Deferred tax of the results for the year</td><td width="30%" align="right" valign="middle" >-816.215</td><td width="14%" align="right" valign="middle" >-268.955</td></tr><tr><td width="56%" ></td><td width="30%" align="right" valign="middle" ><b>998.202</b></td><td width="14%" align="right" valign="middle" ><b>1.814.417</b></td></tr><tr><td colspan="3"></td></tr></table></fsa:InformationOnCurrentDeferredTaxAssets>
<fsa:ExplanationOfPrepayments contextRef="ctx1" 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 width="100%" colspan="1" align="left" valign="middle" ><b>Prepayments</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Prepayments include accrual of expenses relating to subsequent financial years, including payments for market data, congresses and software licenses.</td></tr><tr><td colspan="1"></td></tr></table></fsa:ExplanationOfPrepayments>
<fsa:DisclosureOfContributedCapital contextRef="ctx1" 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 width="100%" colspan="3" align="left" valign="middle" ><b>Share capital</b></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >All amounts in DKK.</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Change in the share capital over the past 3 years</td></tr><tr><td width="56%" ></td><td width="30%" align="right" valign="middle" >2019</td><td width="14%" align="right" valign="middle" >2018</td></tr><tr><td width="56%" colspan="1" align="left" valign="middle" >Share capital 1 January 2019</td><td width="30%" align="right" valign="middle" >500.000</td><td width="14%" align="right" valign="middle" >500.000</td></tr><tr><td width="56%" ></td><td width="30%" align="right" valign="middle" ><b>500.000</b></td><td width="14%" align="right" valign="middle" ><b>500.000</b></td></tr><tr><td colspan="3"></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >The Company was founded 14. November 2016 and there has been no change in the share capital.</td></tr><tr><td colspan="3"></td></tr></table></fsa:DisclosureOfContributedCapital>
<fsa:DisclosureOfOtherProvisions contextRef="ctx1" 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 width="100%" colspan="1" align="left" valign="middle" ><b>Other provisions</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Other provisions comprise provisions for anniversary bonuses, totalling DKK 1.261.926.</td></tr><tr><td colspan="1"></td></tr></table></fsa:DisclosureOfOtherProvisions>
<fsa:DisclosureOfContingentLiabilities contextRef="ctx1" 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 width="100%" colspan="3" align="left" valign="middle" ><b>Contractual obligations and contingencies, etc.</b></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Other contingent liabilities</b></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >The Company is jointly taxed with its parent, Novo Nordisk A/S, which acts as management company, and is jointly and severally liable with other jointly taxed group entities for payment of income taxes for the income year 2019 onwards as well as withholding taxes on interest, royalties and dividends falling due for payment on or after 14 November 2017.</td></tr><tr><td colspan="3"></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Other financial obligations</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Other rent and lease liabilities</td></tr><tr><td width="56%" colspan="1" align="left" valign="middle" >Rent and lease liabilities</td><td width="30%" align="right" valign="middle" >19.693.326</td><td width="14%" align="right" valign="middle" >27.449.302</td></tr><tr><td colspan="3"></td></tr></table></fsa:DisclosureOfContingentLiabilities>
<fsa:InformationOnRelatedEntities contextRef="ctx1" 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 width="100%" colspan="2" align="left" valign="middle" ><b>Related parties</b></td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" >Controlling interest</td></tr><tr><td width="65%" colspan="1" align="left" valign="middle" >Related party</td><td width="35%" colspan="1" align="right" valign="middle" >Basis for control</td></tr><tr><td width="65%" colspan="1" align="left" valign="middle" >Novo Nordisk Region Europe A/S</td><td width="35%" colspan="1" align="right" valign="middle" >Participating interest</td></tr><tr><td width="65%" colspan="1" align="left" valign="middle" >Novo Alle 1</td><td width="35%" colspan="1" align="right" valign="middle" >Shareholders' agreement</td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" >2880 Bagsværd</td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" >Denmark</td></tr><tr><td colspan="2"></td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" ><b>Information about consolidated financial statement</b></td></tr><tr><td colspan="2"></td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" >Parent</td></tr><tr><td width="65%" colspan="1" align="left" valign="middle" >Novo Nordisk A/S</td><td width="35%" colspan="1" align="right" valign="middle" >Requisitioning of the parent company's consolidated financial statements</td></tr><tr><td width="65%" colspan="1" align="left" valign="middle" >Novo Alle 1</td><td width="35%" colspan="1" align="right" valign="middle" >www.novonordisk.dk</td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" >2820 Bagsværd</td></tr><tr><td colspan="2"></td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" ><b>Other related parties</b></td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" >The Company solely discloses related party transactions that have not been carried out on an arm's length basis, cf. section 98c(7) of the Danish Financial Statements Act.</td></tr><tr><td colspan="2"></td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" >All transactions have been carried out on an arm's length basis.</td></tr><tr><td colspan="2"></td></tr></table></fsa:InformationOnRelatedEntities>
<fsa:DisclosureOfSignificantEventsOccurringAfterEndOfReportingPeriod contextRef="ctx1" 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 width="100%" colspan="1" align="left" valign="middle" ><b>Subsequent events COVID-19</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The implications of COVID-19 with many governments across the world deciding to âclose down their countriesâ will have great impact on the global economy. Management considers the implications of COVID-19 a subsequent event occurred after the balance sheet date (31 December 2019), and therefore will not have any effect on the Financial Statements for 2019 (a non-adjusting event). It is too early yet to give an opinion as to whether and, if so, to what extent COVID-19 will impact earnings in 2020.</td></tr></table></fsa:DisclosureOfSignificantEventsOccurringAfterEndOfReportingPeriod>
<sob:StatementByExecutiveAndSupervisoryBoards contextRef="ctx1" 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 by the Board of Directors and Executive Board</td></tr></table></sob:StatementByExecutiveAndSupervisoryBoards>
<sob:IdentificationOfApprovedAnnualReport contextRef="ctx1" 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 Board have today discussed and approved the annual report of Novo Nordisk Denmark A/S for the financial year 1 January to 31 December 2019.</td></tr></table></sob:IdentificationOfApprovedAnnualReport>
<sob:ConfirmationThatAnnualReportIsPresentedInAccordanceWithRequirementsProvidedForByLegislationAnyStandardsAndRequirementsProvidedByArticlesOfAssociationOrByAgreement contextRef="ctx1" 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 annual report has been presented in accordance with the Danish Financial Statements Act.</td></tr></table></sob:ConfirmationThatAnnualReportIsPresentedInAccordanceWithRequirementsProvidedForByLegislationAnyStandardsAndRequirementsProvidedByArticlesOfAssociationOrByAgreement>
<sob:ConfirmationThatFinancialStatementGivesTrueAndFairViewOfAssetsLiabilitiesEquityFinancialPositionAndResults contextRef="ctx1" 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 consider the accounting policies used appropriate, and in our opinion the annual accounts provide a true and fair view of the Company's assets and liabilities and its financial position at 31 December 2019 and of the Company's results of its activities in the financial year 1 January to 31 December 2019.</td></tr></table></sob:ConfirmationThatFinancialStatementGivesTrueAndFairViewOfAssetsLiabilitiesEquityFinancialPositionAndResults>
<sob:ManagementsStatementAboutManagementsReview contextRef="ctx1" 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 Management's review gives a fair review of the development in the company's operations and financial matters and the results of the company's operations and financial position.</td></tr></table></sob:ManagementsStatementAboutManagementsReview>
<sob:RecommendationForApprovalOfAnnualReportByGeneralMeeting contextRef="ctx1" 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 annual report is recommended for approval by the general meeting.</td></tr></table></sob:RecommendationForApprovalOfAnnualReportByGeneralMeeting>
<sob:PlaceOfSignatureOfStatement contextRef="ctx1" xml:lang="da">Copenhagen</sob:PlaceOfSignatureOfStatement>
<sob:DateOfApprovalOfAnnualReport contextRef="ctx1">2020-04-24</sob:DateOfApprovalOfAnnualReport>
<arr:IndependentAuditorsReportsAudit contextRef="ctx1" 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="ctx1" 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 Novo Nordisk Denmark A/S</td></tr></table></arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements>
<arr:OpinionOnAuditedFinancialStatements contextRef="ctx1" 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">Opinion</td></tr><tr><td colspan="1">In our opinion, the Financial Statements give a true and fair view of the financial position of the Company at 31 December 2019 and of the results of the Company's operations and cash flows for the financial year 1 January to 31 December 2019 in accordance with the Danish Financial Statements Act.</td></tr><tr><td colspan="1">We have audited the Financial Statements of Novo Nordisk Denmark A/S for the financial year 1 January to 31 December 2019, which comprise income statement, balance sheet, statement of changes in equity and notes, including accounting policies.</td></tr></table></arr:OpinionOnAuditedFinancialStatements>
<arr:DescriptionOfQualificationsOfAuditedFinancialStatements contextRef="ctx1" 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 âAuditorâs responsibilities for the audit of the Financial Statements section of our reportâ. We are independent of the Company in accordance with international Ethics Standards Board for Accountantsâ Code of Ethics for Professional Accountants (IESBA Code) and the additional requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence obtained is sufficient and appropriate to provide a basis for our opinion.</td></tr></table></arr:DescriptionOfQualificationsOfAuditedFinancialStatements>
<arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements contextRef="ctx1" 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 Management's Review</td></tr><tr><td colspan="1">Management is responsible for Management's Review.</td></tr><tr><td colspan="1">Our opinion on the financial statements does not cover the 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 the Managementâs Review and, in doing so, consider whether the Managementâs Review is materially inconsistent with the financial statements or our knowledge obtained during the audit, or otherwise appears to be materially misstated.</td></tr><tr><td colspan="1">Moreover, it is our responsibility to consider whether Management's Review provides the information required under the Danish Financial Statements Act.</td></tr><tr><td colspan="1">Based on the work we have performed, in our view, Management's Review is in accordance with the Financial Statements and has been prepared in accordance with the requirements of the Danish Financial Statement Act. We did not identify any material misstatement in the Management's Review.</td></tr></table></arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements>
<arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements contextRef="ctx1" 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">Management's Responsibilities for the Financial Statement</td></tr><tr><td colspan="1">Management is responsible for the preparation of 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">In preparing the financial statements, Management is responsible for evaluating the Campany's ability to continue as a going concern, disclosing, as applicablet, matters related to going concern and using the going concern basis of accounting when preparing the financial statements, unless Management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.</td></tr></table></arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements>
<arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed contextRef="ctx1" xml:lang="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</td></tr><tr><td colspan="1">Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorâs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements may arise from fraud or error and 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.</td></tr><tr><td colspan="1">As part of an audit conducted 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 in the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.</td></tr><tr><td colspan="1">Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's 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></table><br><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">Conclude on the appropriateness of Managementâs use of the going concern basis of accounting in preparing the financial statements and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's 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 Company to cease to continue as a going concern.</td></tr><tr><td colspan="1">Evaluate the overall presentation, structure and contents of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that gives a true and fair view.</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 the internal control that we identify during our audit.</td></tr></table></arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed>
<arr:SignatureOfAuditorsPlace contextRef="ctx1" xml:lang="da">Hellerup</arr:SignatureOfAuditorsPlace>
<arr:SignatureOfAuditorsDate contextRef="ctx1">2020-04-24</arr:SignatureOfAuditorsDate>
<gsd:NameOfReportingEntity contextRef="ctx1" xml:lang="da">Novo Nordisk Denmark A/S</gsd:NameOfReportingEntity>
<gsd:AddressOfReportingEntityStreetName contextRef="ctx1" xml:lang="da">Ãrestads Boulevard</gsd:AddressOfReportingEntityStreetName>
<gsd:AddressOfReportingEntityStreetBuildingIdentifier contextRef="ctx1" xml:lang="da">108</gsd:AddressOfReportingEntityStreetBuildingIdentifier>
<gsd:AddressOfReportingEntityPostCodeIdentifier contextRef="ctx1" xml:lang="da">2300</gsd:AddressOfReportingEntityPostCodeIdentifier>
<gsd:AddressOfReportingEntityDistrictName contextRef="ctx1" xml:lang="da">København S</gsd:AddressOfReportingEntityDistrictName>
<gsd:TelephoneNumberOfReportingEntity contextRef="ctx1" xml:lang="da">+45 35 35 00 02</gsd:TelephoneNumberOfReportingEntity>
<gsd:IdentificationNumberCvrOfReportingEntity contextRef="ctx1">38180045</gsd:IdentificationNumberCvrOfReportingEntity>
<gsd:DateOfFoundationOfReportingEntity contextRef="ctx1">2016-11-14</gsd:DateOfFoundationOfReportingEntity>
<gsd:RegisteredOfficeOfReportingEntity contextRef="ctx1" xml:lang="da">Copenhagen</gsd:RegisteredOfficeOfReportingEntity>
<gsd:NameAndSurnameOfChairmanOfGeneralMeeting contextRef="ctx1" xml:lang="da">Karoline Enodden</gsd:NameAndSurnameOfChairmanOfGeneralMeeting>
<gsd:DateOfGeneralMeeting contextRef="ctx1">2020-04-24</gsd:DateOfGeneralMeeting>
<mrv:ManagementsReview contextRef="ctx1" 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">Management's review</td></tr><tr><td colspan="1">Business review</td></tr><tr><td colspan="1">The purpose of Novo Nordisk Denmark A/S (secondary name Novo Nordisk Region Europe Pharmaceuticals A/S) is to act as a regional office and support sales and marketing activities in the Novo Nordisk affiliates in Europe in order to launch and supply best in class products. The treatment areas consist of diabetes, obesity, growth and bleeding disorders as well as hormone replacement treatment.</td></tr><tr><td colspan="1">In the beginning of 2019, a restructuring in the IT organization took place. As a result, the local IT support is conducted in the European affiliates and the cost stay locally in the affiliates. Compared to 2018 it results in a decrease in IT costs. The virtual setup for the Health Economics &amp; Outcome Research team still exist and HEOR employees are located in European affiliates and reporting to management in Copenhagen.</td></tr><tr><td colspan="1">Number of average employees has declined from 69 in 2018 to 65 in 2019.</td></tr><tr><td colspan="1">Unusual matters having affected the financial statements</td></tr><tr><td colspan="1">The financial position at 31 December 2019 of the Company and the results of the activities of the Company for the financial year for 2019 have not been affected by any unusual matters.</td></tr><tr><td colspan="1">Financial review</td></tr><tr><td colspan="1">The revenue for the year is DKK 363.935.809 against DKK 341.939.233 last year. The results from ordinary activities after tax are DKK 5.251.810 against DKK 4.213.051 last year. The management consider the results satisfactory.</td></tr><tr><td colspan="1">Risks</td></tr><tr><td colspan="1">Novo Nordisk Denmark A/S is a service company in the Novo Nordisk group and Novo Nordisk A/S bears all the risks for launches and research &amp; development. All costs, both internal and external, in Novo Nordisk Denmark A/S are (due to a service contract) invoiced to Novo Nordisk A/S as service fee including a mark-up for internal costs.</td></tr><tr><td colspan="1">Events after the balance sheet date</td></tr><tr><td colspan="1">Covid-19: The company's focus for 2020 is to ensure that we can continue to supply distributors and patients. We do not foresee any significant financial impact.</td></tr><tr><td colspan="1">Governments across the world have decided to initiate measures as a response to the COVID-19 outbreak. See comments in note 14 to the financial statement.</td></tr></table><br><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">Outlook</td></tr><tr><td colspan="1">Novo Nordisk Denmark A/S will undergo significant changes in 2020 since the Danish part of Novo Nordisk Scandinavia AB will merge with Novo Nordisk Denmark A/S. This will take place 1st of January 2020 and the company will then consist of the following three units</td></tr><tr><td colspan="1">Regional office Europe: Service company supporting the business areas/large affiliates in Europe. All costs, both internal and external are (due to a service contract) invoiced to Novo Nordisk A/S (parent company) as service fee including a mark-up for internal costs.</td></tr><tr><td colspan="1">North &amp; Central business area office: Service company supporting the affiliates in business area North &amp; Central (Denmark, Sweden, Norway, Finland, Netherlands, Belgium, Switzerland, Austria and Ireland). All costs, both internal and external are due to a service fee contract invoiced to the affiliates in business area North &amp; Central (as a service fee invoice including a mark-up for internal costs).</td></tr><tr><td colspan="1">The Danish sales affiliate: Sales company selling medicine in the treatment areas diabetes, obesity, growth and bleeding disorders as well as hormone replacement treatment. Novo Nordisk A/S bears all the risks for launches and research &amp; development, hence launch costs and R&amp;D costs are invoiced to Novo Nordisk A/S (mother company) as service fee including a mark-up for internal costs.</td></tr></table></mrv:ManagementsReview>
<fsa:InformationOnReportingClassOfEntity contextRef="ctx1" 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 annual report for Novo Nordisk Denmark A/S is presented in accordance with those regulations of the Danish Financial Statements Act concerning companies identified as class C enterprises (medium sized enterprises).</td></tr></table></fsa:InformationOnReportingClassOfEntity>
<fsa:AccountingPoliciesAreUnchangedFromPreviousPeriod contextRef="ctx1">true</fsa:AccountingPoliciesAreUnchangedFromPreviousPeriod>
<fsa:DescriptionOfGeneralMattersRelatedToRecognitionMeasurementAndChangesInAccountingPolicies contextRef="ctx1" 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 annual accounts are presented in Danish kroner (DKK).</td></tr></table><br><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">Recognition and measurement in general</td></tr><tr><td colspan="1">The Financial Statements have been prepared under the historical cost method.</td></tr><tr><td colspan="1">Income is recognised in the profit and loss account concurrently with its realisation, including the recognition of value adjustments of financial assets and liabilities. Likewise, all costs, these including depreciation, amortisation, writedown, provisions, and reversals which are due to changes in estimated amounts previously recognised in the profit and loss account are recognised in the profit and loss account.</td></tr><tr><td colspan="1">Assets are recognised in the balance sheet when the company is liable to achieve future, financial benefits and the value of the asset can be measured reliably.</td></tr><tr><td colspan="1">Liabilities are recognised in the balance sheet when the company is liable to lose future, financial benefits and the value of the liability can be measured reliably.</td></tr><tr><td colspan="1">At the first recognition, assets and liabilities are measured at cost. Later, assets and liabilities are measured as described below for each individual accounting item.</td></tr><tr><td colspan="1">At recognition and measurement, such predictable losses and risks are taken into consideration, which may appear before the annual report is presented, and which concerns matters existing on the balance sheet date.</td></tr></table></fsa:DescriptionOfGeneralMattersRelatedToRecognitionMeasurementAndChangesInAccountingPolicies>
<fsa:ExplanationOfNotDisclosingCashFlowsStatements contextRef="ctx1" 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">Pursuant to section 86(4) of the Danish Financial Statements Act, no cash flow statement for the enterprise has been prepared, as the relevant information is included in the consolidated annual accounts for the higher-ranking parent company Novo Nordisk A/S.</td></tr></table></fsa:ExplanationOfNotDisclosingCashFlowsStatements>
<fsa:DescriptionOfMethodsOfTranslationOfForeignCurrencies contextRef="ctx1" 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">Translation of foreign currency</td></tr><tr><td colspan="1">Transactions in foreign currency are translated by using the exchange rate prevailing at the date of the transaction. Differences in the rate of exchange arising between the rate at the date of transaction and the rate at the date of payment are recognised in the profit and loss account as an item under net financials.</td></tr></table><br><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">Debtors, creditors, and other monetary items in foreign currency are translated by using the closing rate. The difference between the closing rate and the rate at the time of the occurrence or the recognition in the latest annual accounts of the amount owed or the liability is recognised in the profit and loss account under financial income and expenses.</td></tr></table></fsa:DescriptionOfMethodsOfTranslationOfForeignCurrencies>
<fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfRevenue contextRef="ctx1" 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 /><td>Revenue</td></tr><tr><td /><td>Income from the rendering of services is recognised as revenue as the services are rendered. All income is related to invoiced fees to Novo Nordisk A/S which consist of the actual expenses including a mark-up.</td></tr></table></fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfRevenue>
<fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfCostOfSales contextRef="ctx1" 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 /><td>Cost of sales</td></tr><tr><td /><td>Costs of sales includes costs of external services used in generating the year's revenue.</td></tr></table></fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfCostOfSales>
<fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfExternalExpenses contextRef="ctx1" 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 /><td>Other external expenses</td></tr><tr><td /><td>Other external costs comprise costs for distribution, sales, advertisement, administration, premises, loss on debtors, and operational leasing costs.</td></tr></table></fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfExternalExpenses>
<fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfEmployeeBenefitExpense contextRef="ctx1" 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 /><td>Staff costs</td></tr><tr><td /><td>Staff costs include salaries and wages including holiday allowances, pensions and other costs for social security etc. for staff members. Staff costs are less public reimbursements.</td></tr></table></fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfEmployeeBenefitExpense>
<fsa:DescriptionOfMethodsOfImpairmentLossesAndDepreciation contextRef="ctx1" 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 /><td>Depreciation</td></tr><tr><td /><td>Depreciation, amortisation and writedown comprise depreciation on, amortisation of and writedown relating to intangible and tangible fixed assets respectively.</td></tr></table></fsa:DescriptionOfMethodsOfImpairmentLossesAndDepreciation>
<fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfFinanceIncomeAndExpenses contextRef="ctx1" 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 /><td>Net financials</td></tr><tr><td /><td>Net financials comprise interest and reimbursements under the Danish tax prepayment scheme, etc. Financial income and expenses are recognised in the profit and loss account with the amounts that concerns the financial year.</td></tr></table></fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfFinanceIncomeAndExpenses>
<fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfTaxExpenses contextRef="ctx1" 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 /><td>Tax of the results for the year</td></tr><tr><td /><td>The tax for the year comprises the current tax for the year and the changes in deferred tax, and it is recognised in the profit and loss account with the share referring to the results for the year and directly in the equity with the share referring to entries directly on the equity.</td></tr><tr><td /><td>The entity is jointly taxed with other group entities. The total Danish income tax charge is allocated between profit/loss-making Danish entities in proportion to their taxable income (full absorption).</td></tr></table><br><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">Jointly taxed entities entitled to a tax refund are reimbursed by the management company based on the rates applicable to interest allowances, and jointly taxed entities wich have paid too little tax pay a surcharge according to the rates applicable to interest surcharges to the management company.</td></tr></table></fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfTaxExpenses>
<fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfPropertyPlantAndEquipment contextRef="ctx1" 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">Fixed assets</td></tr><tr><td colspan="2">Fixed assets are measured at cost with deduction of accrued depreciation and writedown.</td></tr><tr><td colspan="2">The basis of depreciation is cost with deduction of any expected residual value after the end of the useful life of the asset. The amortisation period and the residual value are determined at the acquisition date and reassessed annually. If the residual value exceeds the book value, the amortisation discontinues.</td></tr><tr><td colspan="2">If the amortisation period or the residual value is changed, the effect on amortisation will in the future be recognised as a change in the accounting estimates.</td></tr><tr><td colspan="2">The cost comprises the acquisition cost and costs directly attached to the acquisition until the time when the asset is ready for use.</td></tr><tr><td colspan="2">Depreciation takes place on a straight line basis and based on an evaluation of the expected useful life</td></tr><tr><td /><td>Useful life</td></tr><tr><td>Fixtures and furniture, other plant and equipment</td><td>10 years</td></tr></table></fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfPropertyPlantAndEquipment>
<fsa:DescriptionOfMethodsOfLeases contextRef="ctx1" 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">Leases</td></tr><tr><td colspan="1">Leases are regarded as operating leases. Payments in connection with operating leases and other rental agreements are recognised in the profit and loss account over the term of the contract. The company's total liabilities concerning operating leases and rental agreements are recognised under contingencies etc.</td></tr></table></fsa:DescriptionOfMethodsOfLeases>
<fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfReceivables contextRef="ctx1" 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">Receivables</td></tr><tr><td colspan="1">Receivables are measured at amortised cost which usually corresponds to face value. In order to meet expected losses, writedown takes place at the net realisable value.</td></tr><tr><td colspan="1">An impairment loss is recognised if there is objektive evidence that a receivable or a group of receivables is impaired. If there is objektive evidence that an individual receivable has been impaired, an impairment loss is recognised on individual basis.</td></tr></table><br><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">Receivables in respect of which there is no objective evidence of individual impairment are tested for objective evidence of impairment on a portfolio basis. The portfolios are primarily based on the debtor's domicile and credit ratings in line with the Company's risk management policy. The objective evidence applied to portfolios is determined based on historical loss experience.</td></tr><tr><td colspan="1">Impairment losses are calculated as the difference between the carrying amount of the receivables and the present value of the expected cash flows, including the realisable value of any collateral received. The effective interest rate for the individual receivable or portfolio is used as discount rate.</td></tr></table></fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfReceivables>
<fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfDeferredIncomeAssets contextRef="ctx1" 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">Prepayments</td></tr><tr><td colspan="1">Prepayments recognised under "Assets" comprises prepaid expenses regarding subsequent financial reporting years.</td></tr></table></fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfDeferredIncomeAssets>
<fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfCashAndCashEquivalents contextRef="ctx1" 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">Cash</td></tr><tr><td colspan="1">Cash comprise cash at bank and in hand.</td></tr></table></fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfCashAndCashEquivalents>
<fsa:DescriptionOfMethodsOfCurrentTaxReceivablesAndLiabilities contextRef="ctx1" 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">Corporate tax and deferred tax</td></tr><tr><td colspan="1">Current tax receivable and tax liabilities are recognised in the balance sheet at the amount calculated on the basis of the expected taxable income for the year adjusted for tax on previous years' taxable income and prepaid taxes. Tax receivable and tax liabilities are set off to the extent that legal right of set-off exists and if the items are expected to be settled net or simultaneously.</td></tr></table></fsa:DescriptionOfMethodsOfCurrentTaxReceivablesAndLiabilities>
<fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfTaxPayablesAndDeferredTax contextRef="ctx1" 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">Deferred tax is measured on the basis of all temporary differences in assets and liabilities with a balance sheet focus.</td></tr><tr><td colspan="1">Deferred tax assets, including the tax value of tax losses eligible for carry-over, are recognised at the value at which they are expected to be realisable, either by settlement against tax of future earnings or by set-off in deferred tax liabilities within the same legal tax unit.</td></tr><tr><td colspan="1">Deferred tax is measured based on the tax rules and tax rates applying under the legislation on the balance sheet date and prevailing when the deferred tax is expected to be released as current tax.</td></tr></table></fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfTaxPayablesAndDeferredTax>
<fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfLiabilitiesOtherThanProvisions contextRef="ctx1" 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">Liabilities</td></tr><tr><td colspan="1">Financial liabilities related to borrowings are recognised at the received proceeds with the deduction of transaction costs incurred. In following periods, the financial liabilities are recognised at amortised cost, corresponding to the capitalised value by use of the effective interest. The difference between the proceeds and the nominal value is recognised in the profit and loss account during the term of the loan.</td></tr><tr><td colspan="1">Other liabilities are measured at amortised cost which usually corresponds to the nominal value.</td></tr></table></fsa:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfLiabilitiesOtherThanProvisions>
<gsd:InformationOnTypeOfSubmittedReport contextRef="ctx1">Ã
rsrapport</gsd:InformationOnTypeOfSubmittedReport>
<gsd:IdentificationNumberCvrOfSubmittingEnterprise contextRef="ctx1">38180045</gsd:IdentificationNumberCvrOfSubmittingEnterprise>
<gsd:NameOfSubmittingEnterprise contextRef="ctx1" xml:lang="da">Novo Nordisk Denmark A/S</gsd:NameOfSubmittingEnterprise>
<gsd:AddressOfSubmittingEnterpriseStreetAndNumber contextRef="ctx1" xml:lang="da">Ãrestads Boulevard 108</gsd:AddressOfSubmittingEnterpriseStreetAndNumber>
<gsd:AddressOfSubmittingEnterprisePostcodeAndTown contextRef="ctx1" xml:lang="da">2300 København S</gsd:AddressOfSubmittingEnterprisePostcodeAndTown>
<gsd:PrecedingReportingPeriodStartDate contextRef="ctx1">2018-01-01</gsd:PrecedingReportingPeriodStartDate>
<gsd:PredingReportingPeriodEndDate contextRef="ctx1">2018-12-31</gsd:PredingReportingPeriodEndDate>
<cmn:TypeOfAuditorAssistance contextRef="ctx1">Revisionspåtegning</cmn:TypeOfAuditorAssistance>
<fsa:Revenue contextRef="ctx2" unitRef="vDKK" decimals="-3">341939000</fsa:Revenue>
<fsa:ProfitLossFromOrdinaryOperatingActivities contextRef="ctx2" unitRef="vDKK" decimals="-3">6162000</fsa:ProfitLossFromOrdinaryOperatingActivities>
<fsa:ResultsFromNetFinancials contextRef="ctx2" unitRef="vDKK" decimals="-3">87000</fsa:ResultsFromNetFinancials>
<fsa:ProfitLoss contextRef="ctx2" unitRef="vDKK" decimals="-3">4213000</fsa:ProfitLoss>
<fsa:InvestmentInPropertyPlantAndEquipment contextRef="ctx2" unitRef="vDKK" decimals="-3">0</fsa:InvestmentInPropertyPlantAndEquipment>
<fsa:AverageNumberOfEmployees contextRef="ctx2" unitRef="pure" decimals="3">69.000</fsa:AverageNumberOfEmployees>
<mrv:OperatingMargin contextRef="ctx2" unitRef="pure" decimals="3">0.018</mrv:OperatingMargin>
<mrv:GrossMargin contextRef="ctx2" unitRef="pure" decimals="3">0.349</mrv:GrossMargin>
<mrv:ReturnOnEquity contextRef="ctx2" unitRef="pure" decimals="3">0.528</mrv:ReturnOnEquity>
<mrv:EquityRatio contextRef="ctx2" unitRef="pure" decimals="3">0.078</mrv:EquityRatio>
<fsa:Revenue contextRef="ctx3" unitRef="vDKK" decimals="-3">317443000</fsa:Revenue>
<fsa:ProfitLossFromOrdinaryOperatingActivities contextRef="ctx3" unitRef="vDKK" decimals="-3">6888000</fsa:ProfitLossFromOrdinaryOperatingActivities>
<fsa:ResultsFromNetFinancials contextRef="ctx3" unitRef="vDKK" decimals="-3">198000</fsa:ResultsFromNetFinancials>
<fsa:ProfitLoss contextRef="ctx3" unitRef="vDKK" decimals="-3">5379000</fsa:ProfitLoss>
<fsa:InvestmentInPropertyPlantAndEquipment contextRef="ctx3" unitRef="vDKK" decimals="-3">1769000</fsa:InvestmentInPropertyPlantAndEquipment>
<fsa:AverageNumberOfEmployees contextRef="ctx3" unitRef="pure" decimals="3">52.000</fsa:AverageNumberOfEmployees>
<mrv:OperatingMargin contextRef="ctx3" unitRef="pure" decimals="3">0.022</mrv:OperatingMargin>
<mrv:GrossMargin contextRef="ctx3" unitRef="pure" decimals="3">0.352</mrv:GrossMargin>
<mrv:ReturnOnEquity contextRef="ctx3" unitRef="pure" decimals="3">0.915</mrv:ReturnOnEquity>
<mrv:EquityRatio contextRef="ctx3" unitRef="pure" decimals="3">0.047</mrv:EquityRatio>
<fsa:Assets contextRef="ctx4" unitRef="vDKK" decimals="0">149607751</fsa:Assets>
<fsa:Equity contextRef="ctx4" unitRef="vDKK" decimals="0">15343476</fsa:Equity>
<fsa:FixturesFittingsToolsAndEquipment contextRef="ctx4" unitRef="vDKK" decimals="0">1329741</fsa:FixturesFittingsToolsAndEquipment>
<fsa:PropertyPlantAndEquipment contextRef="ctx4" unitRef="vDKK" decimals="0">1329741</fsa:PropertyPlantAndEquipment>
<fsa:NoncurrentAssets contextRef="ctx4" unitRef="vDKK" decimals="0">1329741</fsa:NoncurrentAssets>
<fsa:ShorttermTradeReceivables contextRef="ctx4" unitRef="vDKK" decimals="0">274614</fsa:ShorttermTradeReceivables>
<fsa:ShorttermReceivablesFromGroupEnterprises contextRef="ctx4" unitRef="vDKK" decimals="0">4168617</fsa:ShorttermReceivablesFromGroupEnterprises>
<fsa:CurrentDeferredTaxAssets contextRef="ctx4" unitRef="vDKK" decimals="0">998202</fsa:CurrentDeferredTaxAssets>
<fsa:ShorttermTaxReceivables contextRef="ctx4" unitRef="vDKK" decimals="0">880604</fsa:ShorttermTaxReceivables>
<fsa:OtherShorttermReceivables contextRef="ctx4" unitRef="vDKK" decimals="0">5870</fsa:OtherShorttermReceivables>
<fsa:DeferredIncomeAssets contextRef="ctx4" unitRef="vDKK" decimals="0">4789060</fsa:DeferredIncomeAssets>
<fsa:CashAndCashEquivalents contextRef="ctx4" unitRef="vDKK" decimals="0">137161043</fsa:CashAndCashEquivalents>
<fsa:CurrentAssets contextRef="ctx4" unitRef="vDKK" decimals="0">148278010</fsa:CurrentAssets>
<fsa:ContributedCapital contextRef="ctx4" unitRef="vDKK" decimals="0">500000</fsa:ContributedCapital>
<fsa:RetainedEarnings contextRef="ctx4" unitRef="vDKK" decimals="0">14843476</fsa:RetainedEarnings>
<fsa:OtherProvisions contextRef="ctx4" unitRef="vDKK" decimals="0">1261926</fsa:OtherProvisions>
<fsa:Provisions contextRef="ctx4" unitRef="vDKK" decimals="0">1261926</fsa:Provisions>
<fsa:TradePayables contextRef="ctx4" unitRef="vDKK" decimals="0">12912101</fsa:TradePayables>
<fsa:PayablesToGroupEnterprises contextRef="ctx4" unitRef="vDKK" decimals="0">37286108</fsa:PayablesToGroupEnterprises>
<fsa:OtherPayables contextRef="ctx4" unitRef="vDKK" decimals="0">82804140</fsa:OtherPayables>
<fsa:ShorttermLiabilitiesOtherThanProvisions contextRef="ctx4" unitRef="vDKK" decimals="0">133002349</fsa:ShorttermLiabilitiesOtherThanProvisions>
<fsa:LiabilitiesOtherThanProvisions contextRef="ctx4" unitRef="vDKK" decimals="0">133002349</fsa:LiabilitiesOtherThanProvisions>
<fsa:LiabilitiesAndEquity contextRef="ctx4" unitRef="vDKK" decimals="0">149607751</fsa:LiabilitiesAndEquity>
<fsa:Assets contextRef="ctx5" unitRef="vDKK" decimals="-3">130040000</fsa:Assets>
<fsa:Equity contextRef="ctx5" unitRef="vDKK" decimals="-3">10092000</fsa:Equity>
<fsa:Assets contextRef="ctx6" unitRef="vDKK" decimals="-3">124799000</fsa:Assets>
<fsa:Equity contextRef="ctx6" unitRef="vDKK" decimals="-3">5879000</fsa:Equity>
<mrv:NameOfKeyFigureOrFinancialRatio contextRef="ctx7" xml:lang="da">EBITDA-margin</mrv:NameOfKeyFigureOrFinancialRatio>
<mrv:ValueOfKeyFigureOrFinancialRatio contextRef="ctx7" unitRef="pure" decimals="-3">24</mrv:ValueOfKeyFigureOrFinancialRatio>
<mrv:NameOfKeyFigureOrFinancialRatio contextRef="ctx8" xml:lang="da">EBITDA-margin</mrv:NameOfKeyFigureOrFinancialRatio>
<mrv:ValueOfKeyFigureOrFinancialRatio contextRef="ctx8" unitRef="pure" decimals="-3">19</mrv:ValueOfKeyFigureOrFinancialRatio>
<mrv:NameOfKeyFigureOrFinancialRatio contextRef="ctx9" xml:lang="da">EBITDA-margin</mrv:NameOfKeyFigureOrFinancialRatio>
<mrv:ValueOfKeyFigureOrFinancialRatio contextRef="ctx9" unitRef="pure" decimals="-3">22</mrv:ValueOfKeyFigureOrFinancialRatio>
<mrv:NameOfKeyFigureOrFinancialRatio contextRef="ctx10" xml:lang="da">Return on assets</mrv:NameOfKeyFigureOrFinancialRatio>
<mrv:ValueOfKeyFigureOrFinancialRatio contextRef="ctx10" unitRef="pure" decimals="-3">63</mrv:ValueOfKeyFigureOrFinancialRatio>
<mrv:NameOfKeyFigureOrFinancialRatio contextRef="ctx11" xml:lang="da">Return on assets</mrv:NameOfKeyFigureOrFinancialRatio>
<mrv:ValueOfKeyFigureOrFinancialRatio contextRef="ctx11" unitRef="pure" decimals="-3">48</mrv:ValueOfKeyFigureOrFinancialRatio>
<mrv:NameOfKeyFigureOrFinancialRatio contextRef="ctx12" xml:lang="da">Return on assets</mrv:NameOfKeyFigureOrFinancialRatio>
<mrv:ValueOfKeyFigureOrFinancialRatio contextRef="ctx12" unitRef="pure" decimals="-3">55</mrv:ValueOfKeyFigureOrFinancialRatio>
<mrv:NameOfKeyFigureOrFinancialRatio contextRef="ctx13" xml:lang="da">Current ratio</mrv:NameOfKeyFigureOrFinancialRatio>
<mrv:ValueOfKeyFigureOrFinancialRatio contextRef="ctx13" unitRef="pure" decimals="-2">1115</mrv:ValueOfKeyFigureOrFinancialRatio>
<mrv:NameOfKeyFigureOrFinancialRatio contextRef="ctx14" xml:lang="da">Current ratio</mrv:NameOfKeyFigureOrFinancialRatio>
<mrv:ValueOfKeyFigureOrFinancialRatio contextRef="ctx14" unitRef="pure" decimals="-3">1081</mrv:ValueOfKeyFigureOrFinancialRatio>
<mrv:NameOfKeyFigureOrFinancialRatio contextRef="ctx15" xml:lang="da">Current ratio</mrv:NameOfKeyFigureOrFinancialRatio>
<mrv:ValueOfKeyFigureOrFinancialRatio contextRef="ctx15" unitRef="pure" decimals="-3">1044</mrv:ValueOfKeyFigureOrFinancialRatio>
<fsa:Revenue contextRef="ctx16" unitRef="vDKK" decimals="0">341939233</fsa:Revenue>
<fsa:CostOfSales contextRef="ctx16" unitRef="vDKK" decimals="0">75024725</fsa:CostOfSales>
<fsa:OtherOperatingIncome contextRef="ctx16" unitRef="vDKK" decimals="0">7173851</fsa:OtherOperatingIncome>
<fsa:OtherExternalExpenses contextRef="ctx16" unitRef="vDKK" decimals="0">154861412</fsa:OtherExternalExpenses>
<fsa:GrossResult contextRef="ctx16" unitRef="vDKK" decimals="0">119226947</fsa:GrossResult>
<fsa:EmployeeBenefitsExpense contextRef="ctx16" unitRef="vDKK" decimals="0">112887887</fsa:EmployeeBenefitsExpense>
<fsa:DepreciationAmortisationExpenseAndImpairmentLossesOfPropertyPlantAndEquipmentAndIntangibleAssetsRecognisedInProfitOrLoss contextRef="ctx16" unitRef="vDKK" decimals="0">176851</fsa:DepreciationAmortisationExpenseAndImpairmentLossesOfPropertyPlantAndEquipmentAndIntangibleAssetsRecognisedInProfitOrLoss>
<fsa:ProfitLossFromOrdinaryOperatingActivities contextRef="ctx16" unitRef="vDKK" decimals="0">6162209</fsa:ProfitLossFromOrdinaryOperatingActivities>
<fsa:OtherFinanceIncome contextRef="ctx16" unitRef="vDKK" decimals="0">421609</fsa:OtherFinanceIncome>
<fsa:OtherFinanceExpenses contextRef="ctx16" unitRef="vDKK" decimals="0">335097</fsa:OtherFinanceExpenses>
<fsa:ProfitLossFromOrdinaryActivitiesBeforeTax contextRef="ctx16" unitRef="vDKK" decimals="0">6248721</fsa:ProfitLossFromOrdinaryActivitiesBeforeTax>
<fsa:TaxExpense contextRef="ctx16" unitRef="vDKK" decimals="0">2035670</fsa:TaxExpense>
<fsa:ProfitLoss contextRef="ctx16" unitRef="vDKK" decimals="0">4213051</fsa:ProfitLoss>
<fsa:FixturesFittingsToolsAndEquipment contextRef="ctx17" unitRef="vDKK" decimals="0">1506592</fsa:FixturesFittingsToolsAndEquipment>
<fsa:PropertyPlantAndEquipment contextRef="ctx17" unitRef="vDKK" decimals="0">1506592</fsa:PropertyPlantAndEquipment>
<fsa:NoncurrentAssets contextRef="ctx17" unitRef="vDKK" decimals="0">1506592</fsa:NoncurrentAssets>
<fsa:ShorttermTradeReceivables contextRef="ctx17" unitRef="vDKK" decimals="0">55835</fsa:ShorttermTradeReceivables>
<fsa:ShorttermReceivablesFromGroupEnterprises contextRef="ctx17" unitRef="vDKK" decimals="0">91960845</fsa:ShorttermReceivablesFromGroupEnterprises>
<fsa:CurrentDeferredTaxAssets contextRef="ctx17" unitRef="vDKK" decimals="0">1814417</fsa:CurrentDeferredTaxAssets>
<fsa:ShorttermTaxReceivables contextRef="ctx17" unitRef="vDKK" decimals="0">2818410</fsa:ShorttermTaxReceivables>
<fsa:OtherShorttermReceivables contextRef="ctx17" unitRef="vDKK" decimals="0">5907</fsa:OtherShorttermReceivables>
<fsa:DeferredIncomeAssets contextRef="ctx17" unitRef="vDKK" decimals="0">2429212</fsa:DeferredIncomeAssets>
<fsa:CashAndCashEquivalents contextRef="ctx17" unitRef="vDKK" decimals="0">29448964</fsa:CashAndCashEquivalents>
<fsa:CurrentAssets contextRef="ctx17" unitRef="vDKK" decimals="0">128533590</fsa:CurrentAssets>
<fsa:Assets contextRef="ctx17" unitRef="vDKK" decimals="0">130040182</fsa:Assets>
<fsa:ContributedCapital contextRef="ctx17" unitRef="vDKK" decimals="0">500000</fsa:ContributedCapital>
<fsa:RetainedEarnings contextRef="ctx17" unitRef="vDKK" decimals="0">9591666</fsa:RetainedEarnings>
<fsa:Equity contextRef="ctx17" unitRef="vDKK" decimals="0">10091666</fsa:Equity>
<fsa:OtherProvisions contextRef="ctx17" unitRef="vDKK" decimals="0">1024084</fsa:OtherProvisions>
<fsa:Provisions contextRef="ctx17" unitRef="vDKK" decimals="0">1024084</fsa:Provisions>
<fsa:TradePayables contextRef="ctx17" unitRef="vDKK" decimals="0">10289190</fsa:TradePayables>
<fsa:PayablesToGroupEnterprises contextRef="ctx17" unitRef="vDKK" decimals="0">30434547</fsa:PayablesToGroupEnterprises>
<fsa:OtherPayables contextRef="ctx17" unitRef="vDKK" decimals="0">78200695</fsa:OtherPayables>
<fsa:ShorttermLiabilitiesOtherThanProvisions contextRef="ctx17" unitRef="vDKK" decimals="0">118924432</fsa:ShorttermLiabilitiesOtherThanProvisions>
<fsa:LiabilitiesOtherThanProvisions contextRef="ctx17" unitRef="vDKK" decimals="0">118924432</fsa:LiabilitiesOtherThanProvisions>
<fsa:LiabilitiesAndEquity contextRef="ctx17" unitRef="vDKK" decimals="0">130040182</fsa:LiabilitiesAndEquity>
<fsa:ProfitLoss contextRef="ctx18" unitRef="vDKK" decimals="0">5251810</fsa:ProfitLoss>
<fsa:ProfitLoss contextRef="ctx19" unitRef="vDKK" decimals="0">4213051</fsa:ProfitLoss>
<cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx20" xml:lang="da">Kasper Bødker Mejlvang</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx21" xml:lang="da">Frederik Kier</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx21" xml:lang="da">Chairman</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx22" xml:lang="da">Tomas Haagen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx23" xml:lang="da">Morten Engelund</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameOfAuditFirm contextRef="ctx24" xml:lang="da">PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab</cmn:NameOfAuditFirm>
<cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx24">33771231</cmn:IdentificationNumberCvrOfAuditFirm>
<cmn:NameAndSurnameOfAuditor contextRef="ctx24" xml:lang="da">Mads Melgaard</cmn:NameAndSurnameOfAuditor>
<cmn:DescriptionOfAuditor contextRef="ctx24" xml:lang="da">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
<cmn:IdentificationNumberOfAuditor contextRef="ctx24">mne34354</cmn:IdentificationNumberOfAuditor>
<gsd:AddressOfAuditorStreetName contextRef="ctx24" xml:lang="da">Strandvejen</gsd:AddressOfAuditorStreetName>
<gsd:AddressOfAuditorStreetBuildingIdentifier contextRef="ctx24" xml:lang="da">44</gsd:AddressOfAuditorStreetBuildingIdentifier>
<gsd:AddressOfAuditorPostCodeIdentifier contextRef="ctx24" xml:lang="da">2900</gsd:AddressOfAuditorPostCodeIdentifier>
<gsd:AddressOfAuditorDistrictName contextRef="ctx24" xml:lang="da">Hellerup</gsd:AddressOfAuditorDistrictName>
<cmn:NameAndSurnameOfAuditor contextRef="ctx25" xml:lang="da">Elife Savas</cmn:NameAndSurnameOfAuditor>
<cmn:DescriptionOfAuditor contextRef="ctx25" xml:lang="da">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
<cmn:IdentificationNumberOfAuditor contextRef="ctx25">mne34453</cmn:IdentificationNumberOfAuditor>
<cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx25">33771231</cmn:IdentificationNumberCvrOfAuditFirm>
<cmn:NameOfAuditFirm contextRef="ctx25" xml:lang="da">PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab</cmn:NameOfAuditFirm>
</xbrli:xbrl>