Assets
| Type | Time | Amount | Unit |
|---|---|---|---|
| ifrs-full:Assets | 2020-08-31 | 2056300000 | vEUR |
| ifrs-full:Assets | 2019-08-31 | 1240900000 | vEUR |
| ifrs-full:Assets | 2020-08-31 | 2853600000 | vEUR |
| ifrs-full:Assets | 2019-08-31 | 2057800000 | vEUR |
Revenue
| Type | Start date | End date | Amount | Unit |
|---|---|---|---|---|
| ifrs-full:Revenue | 2019-09-01 | 2020-08-31 | 0 | vEUR |
| ifrs-full:Revenue | 2018-09-01 | 2019-08-31 | 0 | vEUR |
| ifrs-full:Revenue | 2019-09-01 | 2020-08-31 | 970000000 | vEUR |
| ifrs-full:Revenue | 2018-09-01 | 2019-08-31 | 937400000 | vEUR |
XML
See the xml submitted here:
XML: http://regnskaber.virk.dk/77681382/amNsb3VkczovLzAzL2EyL2Q3L2JkLzBlLzQ2YWMtNDczMS05YjZiLTVjNDMzZTBhNjcyNw.xml
Separator
The full data:
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<xbrli:scenario>
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<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx4" unitRef="vEUR" decimals="-5">1100000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
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<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx5" unitRef="vEUR" decimals="-5">-467600000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities>
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<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx6" unitRef="vEUR" decimals="-5">37800000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx7" xml:lang="da">Borrowings.</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities>
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<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx8" xml:lang="da">Borrowings.</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities>
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<gsd:NameOfReportingEntity contextRef="ctx13" xml:lang="da">Chr. Hansen Holding A/S</gsd:NameOfReportingEntity>
<gsd:AddressOfReportingEntityStreetName contextRef="ctx13" xml:lang="da">Bøge Allé</gsd:AddressOfReportingEntityStreetName>
<gsd:AddressOfReportingEntityStreetBuildingIdentifier contextRef="ctx13" xml:lang="da">10-12</gsd:AddressOfReportingEntityStreetBuildingIdentifier>
<gsd:AddressOfReportingEntityPostCodeIdentifier contextRef="ctx13" xml:lang="da">2970</gsd:AddressOfReportingEntityPostCodeIdentifier>
<gsd:AddressOfReportingEntityDistrictName contextRef="ctx13" xml:lang="da">Hørsholm</gsd:AddressOfReportingEntityDistrictName>
<gsd:AddressOfReportingEntityCountry contextRef="ctx13" xml:lang="da">Denmark</gsd:AddressOfReportingEntityCountry>
<gsd:TelephoneNumberOfReportingEntity contextRef="ctx13" xml:lang="da">+45 4574 7474</gsd:TelephoneNumberOfReportingEntity>
<gsd:IdentificationNumberCvrOfReportingEntity contextRef="ctx13">28318677</gsd:IdentificationNumberCvrOfReportingEntity>
<gsd:ReportingPeriodStartDate contextRef="ctx13">2019-09-01</gsd:ReportingPeriodStartDate>
<gsd:ReportingPeriodEndDate contextRef="ctx13">2020-08-31</gsd:ReportingPeriodEndDate>
<gsd:DateOfGeneralMeeting contextRef="ctx13">2020-11-25</gsd:DateOfGeneralMeeting>
<gsd:NameAndSurnameOfChairmanOfGeneralMeeting contextRef="ctx13" xml:lang="da">Niels Heering</gsd:NameAndSurnameOfChairmanOfGeneralMeeting>
<gsd:HomepageOfReportingEntity contextRef="ctx13">www.chr-hansen.com</gsd:HomepageOfReportingEntity>
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<ifrs-full:FinanceCosts contextRef="ctx13" unitRef="vEUR" decimals="-5">99900000</ifrs-full:FinanceCosts>
<ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod contextRef="ctx13" unitRef="vEUR" decimals="-5">-3900000</ifrs-full:ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod>
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<arr:IndependentAuditorsReportsAudit contextRef="ctx13" 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 auditor's report</td></tr></table></arr:IndependentAuditorsReportsAudit>
<arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements contextRef="ctx13" 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 Chr. Hansen Holding A/S</td></tr></table></arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements>
<arr:OpinionOnAuditedFinancialStatements contextRef="ctx13" 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 and the Parent Company Financial Statements give a true and fair view of the Groupâs and the Parent Companyâs financial position at 31 August 2020 and of the results of the Groupâs and the Parent Companyâs operations and cash flows for the financial year 1 September 2019 to 31 August 2020 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">Our opinion is consistent with our Auditorâs Longform 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 and Parent Company Financial Statements of Chr. Hansen Holding A/S for the financial year 1 September 2019 to 31 August 2020 comprise income statement and statement of comprehensive income, balance sheet, statement of changes in equity, cash flow statement and notes, including summary of significant accounting policies for the Group as well as for the Parent Company. Collectively referred to as the âFinancial Statementsâ.</td></tr></table></arr:OpinionOnAuditedFinancialStatements>
<arr:DescriptionOfQualificationsOfAuditedFinancialStatements contextRef="ctx13" 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 Auditorâs responsibilities for the audit of the Financial Statements section of our report.</td></tr><tr><td colspan="1">We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.</td></tr><tr><td colspan="1">Independence</td></tr><tr><td colspan="1">We are independent of the Group in accordance with 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 first appointed auditors of Chr. Hansen Holding A/S for the first time after the initial public offering on 30 November 2010. We have been reappointed annually by shareholder resolution for a total period of uninterrupted engagement of 10 years including the financial year for the period 1 September 2019 to 31 August 2020.</td></tr></table></arr:DescriptionOfQualificationsOfAuditedFinancialStatements>
<arr:KeyAuditMattersAudit contextRef="ctx13" 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">Key audit matters</td></tr><tr><td colspan="1">Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the Financial Statements for the period 1 September 2019 to 31 August 2020. 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 colspan="1">Key audit matter</td></tr><tr><td colspan="1">Business combinations</td></tr><tr><td colspan="1">In April 2020, HSO Health Care GmbH and in July 2020, UAS Laboratories LLC were acquired respectively. Management prepared purchase price allocations (âPPAâ) for the acquisitions, resulting in assets and liabilities being separately recognised and measured at fair value in the opening balance sheet.</td></tr><tr><td colspan="1">When performing the PPAs, Management used the Groupâs valuation methodologies. In order to determine the fair value of the separately identified assets and liabilities in a business combination, the valuation methodologies require input based on assumptions about the applied discounted cash flow forecasts, including estimation of a WACC. The significant judgements and estimates involved in the PPAs mainly relate to assessing the fair value of the acquired assets and liabilities at the opening balance sheet date.</td></tr><tr><td colspan="1">We focused on this area because the PPAs, which includes identification of the acquired assets and liabilities and their respective fair values, requires significant judgements and estimates by Management.</td></tr><tr><td colspan="1">Refer to note 5.3 in the Consolidated Financial Statements.</td></tr><tr><td colspan="1">How our audit addressed the key audit matter</td></tr><tr><td colspan="1">We assessed whether the acquisitions met the criteria of a business combination.</td></tr><tr><td colspan="1">We verified the assets and liabilities recognised in the opening balance sheet by performing audit procedures in relation to the opening balance sheet comprising, amongst others, agreed the opening balance to the trial balance, and verified the existence of inventory and tangible assets on a sample basis.</td></tr><tr><td colspan="1">We involved our internal specialists in assessing the valuation methodologies used by Management and the fair valuation of the acquired assets and liabilities.</td></tr><tr><td colspan="1">We challenged the significant assumptions used to determine the fair value of the acquired assets and liabilities in the business combination.</td></tr><tr><td colspan="1">We assessed the appropriateness of the related disclosure provided in the Consolidated Financial Statements.</td></tr><tr><td colspan="1">Key audit matter</td></tr><tr><td colspan="1">Discontinuing Natural Colors business</td></tr><tr><td colspan="1">A strategic review exploring strategic options for the future of the Natural Colors business was initiated during 2019/20. By the end of the year 2019/20, the requirements for the business to be presented as discontinued operations in accordance with IFRS 5, Non-Current Assets Held for Sale and Discontinued Operations were met.</td></tr><tr><td colspan="1">We focused on this area because determining the appropriate application of IFRS 5 is dependent on judgements by Management, in particular</td></tr><tr><td colspan="1">â¢Â    Whether the transaction meets the criteria for separate presentation of assets and liabilities classified as held for sale.</td></tr><tr><td colspan="1">â¢Â    Whether the Natural Colors business represents a separate major line of business or geographical area of operations resulting in the presentation of discontinued operations.</td></tr><tr><td colspan="1">â¢Â    Whether the assets and liabilities are measured at the lower of the fair value less costs of disposal or their carrying amounts.</td></tr><tr><td colspan="1">In addition, the disclosures relating to the Natural Colors business as contained in the income statement, the balance sheet and the cash flow statement, especially in relation to eliminations of intragroup transactions between the continuing and the discontinued business is complex and includes judgements on whether other activities within the Group should be classified as discontinued.</td></tr><tr><td colspan="1">Refer to note 5.4 in the Consolidated Financial Statements.</td></tr><tr><td colspan="1">How our audit addressed the key audit matter</td></tr><tr><td colspan="1">We evaluated whether Management had appropriately applied the requirements of IFRS 5 by, among others</td></tr><tr><td colspan="1">â¢Â    Examining minutes of Board of Directors' meetings, written correspondence between the Group and the prospective purchasers to assess the classification of assets held for sale and discontinued operations against the 'highly probable' criteria in the accounting standard</td></tr><tr><td colspan="1">â¢Â    Assessing the valuation of assets and liabilities in the Natural Colors business to consider whether any revaluation or impairment was required by considering the headroom between the fair value less costs of disposal and the carrying value of assets and liabilities in the Group.</td></tr><tr><td colspan="1">â¢Â    Assessing the completeness and accuracy of the disclosure of discontinued operations against the disclosure requirements of IFRS 5.</td></tr><tr><td colspan="1">â¢Â    Testing the Group's restatement of the comparative numbers, including eliminations of intragroup transactions, and associated disclosures to assess whether the relevant Natural Colors business had been appropriately recognised and discontinued.</td></tr><tr><td colspan="1">We assessed the appropriateness of the related disclosure provided in the Consolidated Financial Statements.</td></tr><tr><td colspan="1">Key audit matter</td></tr><tr><td colspan="1">Capitalisation and valuation of development</td></tr><tr><td colspan="1">The Group capitalizes development costs in accordance with IFRS, which prescribe capitalization when certain criteria are met. Recognition and measurement of development projects are subject to judgement and estimates based on Managementâs assumptions of the future, which is uncertain by nature.</td></tr><tr><td colspan="1">Completed development projects are reviewed at the time of completion and on an annual basis to determine whether there is any indication of impairment. For development projects in progress, an annual impairment test is performed.</td></tr><tr><td colspan="1">The impairment test is based on strategic plans and value-in-use calculation based on expected future cash flows.</td></tr><tr><td colspan="1">We focused on this area because recognition and measurement of development projects are subject to judgement and estimates based on Managementâs assumptions of the future, which is uncertain by nature.</td></tr><tr><td colspan="1">Refer to note 3.2 in the Consolidated Financial Statements.</td></tr><tr><td colspan="1">How our audit addressed the key audit matter</td></tr><tr><td colspan="1">We considered whether all criteria are met as basis for the capitalisation of development projects in progress. We evaluated procedures and tested relevant internal controls to ensure correct accounting for development projects and performed substantive audit procedures to verify capitalised amounts.</td></tr><tr><td colspan="1">We evaluated and challenged Managementâs assessment of indication of impairment of completed development projects. Our work was based on our understanding of the commercial prospects of the completed development projects.</td></tr><tr><td colspan="1">For development projects in progress we evaluated the impairment test performed by Management.</td></tr><tr><td colspan="1">We selected a sample of in progress projects and challenged whether a future intent to develop the project remains and whether they will generate probable future economic benefit exceeding the expected carrying value.</td></tr><tr><td colspan="1">We challenged the appropriateness of the key assumptions applied and the probability of key future events occurring. Our work was based on our understanding of the commercial prospects of the development projects in progress.</td></tr><tr><td colspan="1">We considered the appropriateness of the related disclosure provided in the Consolidated Financial Statements.</td></tr></table></arr:KeyAuditMattersAudit>
<arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements contextRef="ctx13" 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 3-63.</td></tr><tr><td colspan="1">Our opinion on the Financial Statements 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 and the Parent Company Financial Statements and has been prepared in accordance with the requirements of the Danish Financial Statements Act. We did not identify any material misstatement in Managementâs Review.</td></tr></table></arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements>
<arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements contextRef="ctx13" 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 responsibilities for the Financial Statements</td></tr><tr><td colspan="1">Management is responsible for the preparation of consolidated financial statements and parent company financial statements that give a true and fair view in accordance with International Financial Reporting Standards as adopted by the EU and further requirements in the Danish Financial Statements Act, 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 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="ctx13" 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 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.</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 judgement and maintain professional scepticism throughout the audit. We also</td></tr><tr><td colspan="1">â¢Â   Identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.</td></tr><tr><td colspan="1">â¢Â   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">â¢Â   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">â¢Â   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">â¢Â   Evaluate the overall presentation, structure and content of the Financial Statements, including the disclosures, and whether the Financial Statements represent the underlying transactions and events in a manner that achieves fair presentation.</td></tr><tr><td colspan="1">â¢Â   Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the Consolidated Financial Statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.</td></tr><tr><td colspan="1">We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.</td></tr><tr><td colspan="1">We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.</td></tr><tr><td colspan="1">From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the Financial Statements of the current period and are therefore the key audit matters. We describe these matters in our auditorâs report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.</td></tr></table></arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed>
<arr:SignatureOfAuditorsPlace contextRef="ctx13" xml:lang="da">Hellerup</arr:SignatureOfAuditorsPlace>
<arr:SignatureOfAuditorsDate contextRef="ctx13">2020-10-08</arr:SignatureOfAuditorsDate>
<sob:StatementByExecutiveAndSupervisoryBoards contextRef="ctx13" 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 Board</td></tr></table></sob:StatementByExecutiveAndSupervisoryBoards>
<sob:IdentificationOfApprovedAnnualReport contextRef="ctx13" 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 Executive Board and the Board of Directors have today considered and adopted the Annual Report of Chr. Hansen Holding A/S for the financial year September 1, 2019 â August 31, 2020.</td></tr></table></sob:IdentificationOfApprovedAnnualReport>
<sob:ConfirmationThatAnnualReportIsPresentedInAccordanceWithRequirementsProvidedForByLegislationAnyStandardsAndRequirementsProvidedByArticlesOfAssociationOrByAgreement contextRef="ctx13" 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 prepared in accordance with International Financial Reporting Standards as adopted by the EU and further requirements in the Danish Financial Statements Act.</td></tr></table></sob:ConfirmationThatAnnualReportIsPresentedInAccordanceWithRequirementsProvidedForByLegislationAnyStandardsAndRequirementsProvidedByArticlesOfAssociationOrByAgreement>
<sob:ConfirmationThatFinancialStatementGivesTrueAndFairViewOfAssetsLiabilitiesEquityFinancialPositionAndResults contextRef="ctx13" 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 Consolidated Financial Statements and the Parent Company Financial Statements give a true and fair view of the financial position at August 31, 2020 of the Group and the Parent Company and of the results of the Groupâs and Parent Companyâs operations and cash flows for 2019/20.</td></tr></table></sob:ConfirmationThatFinancialStatementGivesTrueAndFairViewOfAssetsLiabilitiesEquityFinancialPositionAndResults>
<sob:ManagementsStatementAboutManagementsReview contextRef="ctx13" 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:RecommendationForApprovalOfAnnualReportByGeneralMeeting contextRef="ctx13" 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 General Meeting.</td></tr></table></sob:RecommendationForApprovalOfAnnualReportByGeneralMeeting>
<sob:PlaceOfSignatureOfStatement contextRef="ctx13" xml:lang="da">Hørsholm</sob:PlaceOfSignatureOfStatement>
<sob:DateOfApprovalOfAnnualReport contextRef="ctx13">2020-10-08</sob:DateOfApprovalOfAnnualReport>
<mrv:CorporateGovernanceReport contextRef="ctx13" 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 governance</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">The Board of Directors of Chr. Hansen Holding A/S remains committed to good governance practices and to following the Danish Recommendations on Corporate Governance30 (Recommendations).</td></tr><tr><td colspan="1">The Board of Directors regularly reviews Chr. Hansenâs corporate governance framework and policies in relation to the activities of Chr. Hansen.</td></tr><tr><td colspan="1">Section 107b of the Danish Financial Statements Act requires Chr. Hansen Holding A/S to prepare a statement on corporate governance for the 2019/20 financial year. This statement is available at www.chr-hansen.com/en/investors/governance/corporate-governance and forms part of the Managementâs Review, but is not covered by the independent auditorâs report. The statement provides an overview of our overall governance structure and our position on each of the Recommendations. The Company currently complies with all of the Recommendations.</td></tr><tr><td colspan="1">In addition, Chr. Hansen is committed to be accountable to all relevant stakeholders. The Company has developed a number of policies and positions that are aligned with international conventions, treaties and standards. For example, Chr. Hansen continues to support the ten principles of the United Nations Global Compact and works strategically with the UN Sustainable Development goals. For more information, go to https://www.chr-hansen.com/en/sustainability.</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">Shareholders</td></tr><tr><td colspan="1">The shareholders have ultimate authority over the Company and can exercise their rights by passing resolutions at general meetings, which is the supreme governing body of Chr. Hansen. At annual general meetings, shareholders approve the annual reports, any amendments to the Articles of Association, and elect board members and the independent auditor. Resolutions can generally be passed by a simple majority. However, resolutions to amend the Articles of Association require the affirmative votes of two- thirds of the votes cast and capital represented, unless the Danish Companies Act imposes other adoption requirements.</td></tr><tr><td colspan="1">The 2019 Annual General Meeting was held on November 27, 2019 and the minutes of the meeting are available at www.chr-hansen.com/en/investors/governance/annual-general-meeting. Rules and deadlines applicable to the Annual General Meeting are stipulated in the Companyâs Articles of Association available at www.chr-hansen.com/en/investors/governance/annual-general-meeting.</td></tr><tr><td colspan="1">Management</td></tr><tr><td colspan="1">Chr. Hansen has a two-tier management structure consisting of the Board of Directors and the Executive Board. The two bodies are separate and have no overlapping members. The Executive Board oversees the day-to-day management, while the Board of Directors supervises the work of the Executive Board and is responsible for the overall management and strategic direction.</td></tr><tr><td colspan="1">Board of Directors.</td></tr><tr><td colspan="1">The Board of Directors has eleven members, seven of whom are elected by the shareholders and four by the employees in Denmark. All shareholder-elected members of the Board of Directors serve for terms of one year and may stand for re-election at each yearâs annual general meeting. Currently, all seven board members elected by the shareholders are independent as defined by the Recommendations.</td></tr><tr><td colspan="1">In June 2017, the employees in Denmark elected four board members, two men and two women, for a statutory four-year term. The current employee representatives joined the Board of Directors after the annual general meeting held in November 2017 and are up for election again in 2021. Employee-elected board members are not considered independent as defined in the Recommendations.</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="8">At the Annual General Meeting held in November 2019, Dominique Reiniche was re-elected Chair of the Board of Directors. Dominique Reiniche has served on the Board since 2013, including as Vice Chair since 2015. The Board subsequently re-appointed Jesper Brandgaard as Vice Chair of the Board. Jesper Brandgaard has served on the Board of Directors since 2017, including as Vice Chair since 2018.</td></tr><tr><td colspan="8">The Board of Directors held twelve board meetings in 2019/20. For information about meeting attendance see p 52.</td></tr><tr><td colspan="8">More information on each of the board members is available on pp 54-57 and at www.chr-hansen.com/en/about-us/management/board-of-directors.</td></tr><tr><td colspan="8">The Chair of the Board of Directors is overall responsible for conducting an annual evaluation of the Boardâs performance. The evaluation includes all members of the Board, the Executive Board and the other members of the Corporate Leadership Team. The evaluation addresses the efficiency of the Board, the board composition and dynamics, the processes supporting its work, the value contributions of individual members, the Chairâs performance and the collaboration with the Executive Board. Further, the process evaluates topics such as agendas and discussions, strategy development and implementation, risk awareness, monitoring and reporting, succession, and potential overboarding of board members. In addition, each member of the Board of Directors is provided with feedback from all other board members, members of the Executive Board and the other members of the Corporate Leadership Team on their individual performance.</td></tr><tr><td colspan="8">The evaluation is directed by the Chair and has in recent years been facilitated by an external consultant. In 2019/20, the Board decided to conduct an internal board evaluation facilitated by the Corporate Secretary, where the Board, the Executive Board and the other members of the Corporate Leadership Team anonymously completed a comprehensive specially-designed online questionnaire, the responses of which were summarized in a report. In addition, the Audit Committee, the Nomination Committee, the Remuneration Committee and the Science &amp; Innovation Committee all conducted informal self-evaluations.</td></tr><tr><td colspan="8">The results of the evaluation presented to the Board of Directors in September 2020 showed a very good and professional performing board and a strong collaboration between the Board and the Executive Board. Overall all the areas for improvement identified in the 2018/19 evaluation had been addressed. The 2019/2020 evaluation resulted in a continued focus on ensuring the competitiveness of the remuneration of the Corporate Leadership Team and securing the succession bench for the Chair, Vice Chair and committee chairs, as well as a focus on strengthening the annual budget review process, the follow-up process in Board approved investment projects, the process of enterprise risk management reporting and making the reporting process on the financial position of the Company more dynamic. The Chair of the Board held individual meetings with each of the other board members to review their performance, and a member of the Nomination Committee held a meeting with the Chair to review the Chairâs performance.</td></tr><tr><td colspan="8">Board committees</td></tr><tr><td colspan="8">Audit Committee</td></tr><tr><td colspan="8">The Audit Committee assists the Board of Directors in meeting its responsibilities with respect to the financial reporting process, the system of internal controls, the audit process and the Companyâs process for monitoring compliance with laws, regulations, internal policies and positions, including considering the independence of the independent auditor and reviewing the annual and quarterly financial reports.</td></tr><tr><td colspan="8">In 2019/20, the Audit Committee organized an audit firm selection process in accordance with Article 16 of the EU Audit Regulation (Regulation (EU) No. 537/2014). In the selection process, the Audit Committee evaluated relevant audit firms with regards to electability, competences and global presence. Two audit firms were short-listed resulting in the Audit Committee recommending to the Board of Directors to propose the appointment of PwC at the 2020 Annual General Meeting to be held on November 25, 2020. The Audit Committeeâs preference was based inter alia on PwCâs significant knowledge of the food ingredients industry, its good knowledge of Chr. Hansen and a competitive fee level. Furthermore, PwC has a global organization that provides valuable and professional support to Chr. Hansenâs global business.</td></tr><tr><td colspan="8">The Audit Committee is appointed by the Board and consists of</td></tr><tr><td colspan="8">â¢Â   Mark Wilson (chair; financial expert)</td></tr><tr><td colspan="8">â¢Â   Jesper Brandgaard (financial expert)</td></tr><tr><td colspan="8">â¢Â   Dominique Reiniche</td></tr><tr><td colspan="8">All members are independent as defined by the Recommendations. Under Danish law, at least one of the members must have expertise and experience in accounting and auditing (financial expert), and the members of the committee must as a whole have competencies relevant to the industry in which the Company operates. Two members are financial experts, and the members as a whole have competencies relevant to the industries in which Chr. Hansen operates.</td></tr><tr><td colspan="8">The Audit Committee held four meetings in 2019/20. For information about meeting attendance see p 52.</td></tr><tr><td colspan="8">Nomination Committee</td></tr><tr><td colspan="8">The Nomination Committee assists the Board of Directors in meeting its responsibilities with respect to the nomination and appointment of members of the Board of Directors and the Executive Board, ensuring that the Board of Directors and the Executive Board are at all times of the appropriate size and composed of individuals with the necessary professional qualifications and experience, and to conducting regular evaluations of the performance of the Board of Directors and the Executive Board.</td></tr><tr><td colspan="8">The Nomination Committee is appointed by the Board and consists of</td></tr><tr><td colspan="8">â¢Â   Dominique Reiniche (chair)</td></tr><tr><td colspan="8">â¢Â   Jesper Brandgaard</td></tr><tr><td colspan="8">â¢Â   Heidi Kleinbach-Sauter</td></tr><tr><td colspan="8">All members are independent as defined by the Recommendations. The Nomination Committee held three meetings in 2019/2020. For information about meeting attendance see p 52.</td></tr><tr><td colspan="8">Remuneration Committee</td></tr><tr><td colspan="8">The Remuneration Committee assists the Board of Directors in meeting its responsibilities with respect to establishing, implementing and executing its remuneration policy for the members of the Board of Directors, its committees and the Executive Board, and the principles hereof for the other members of the Corporate Leadership Team. Furthermore, the Remuneration Committee assists the Board of Directors in preparing a general remuneration policy for the Company and preparing an annual Remuneration Report for the Board of Directors and the Executive Board.</td></tr><tr><td colspan="8">The Remuneration Committee is appointed by the Board and consists of</td></tr><tr><td colspan="8">â¢Â   Dominique Reiniche (chair)</td></tr><tr><td colspan="8">â¢Â   Kristian Villumsen</td></tr><tr><td colspan="8">â¢Â   Mark Wilson</td></tr><tr><td colspan="8">All members are independent as defined by the Recommendations. The Remuneration Committee held four meetings in 2019/2020. For information about meeting attendance see p 52.</td></tr><tr><td colspan="8">Scientific Committee</td></tr><tr><td colspan="8">The Scientific Committee assists the Board of Directors in meeting its responsibilities with respect to the Companyâs R&amp;D activities and ensuring that the Board of Directors has an informed, independent view of the focus and direction of the R&amp;D functionâs work and capabilities. Furthermore, the Scientific Committee provides reassurance to the Board of Directors that the R&amp;D and technical resources of the Company are appropriately aligned with the agreed strategy.</td></tr><tr><td colspan="8">The Scientific Committee is appointed by the Board and consists of</td></tr><tr><td colspan="8">â¢Â   Luis Cantarell (chair)</td></tr><tr><td colspan="8">â¢Â   Niels Peder Nielsen</td></tr><tr><td colspan="8">â¢Â   Heidi Kleinbach-Sauter</td></tr><tr><td colspan="8">All members are independent as defined by the Recommendations. The Scientific Committee held five meetings in 2019/2020. For information about meeting attendance see p 52.</td></tr><tr><td colspan="8">At the September 24, 2020 board meeting, it was decided to change the role of the committee to assist and advise the members of the Board of Directors in matters relating to the R&amp;D strategy of the Company including the commercialization strategies to bring innovations from R&amp;D to the relevant markets. The purpose is to provide reassurance to the Board that the R&amp;D, technical resources and innovation plans of the Company are appropriately aligned with the agreed business and customer strategies. As a consequence the name of the Scientific Committee was changed to the Science &amp; Innovation Committee.</td></tr><tr><td colspan="8">Executive board.</td></tr><tr><td colspan="8">The Executive Board is responsible for the day-to-day management and compliance with the guidelines and recommendations issued by the Board of Directors. The Executive Board is to and recommend proposals for the Companyâs overall strategy and objectives to the Board of Directors.</td></tr><tr><td colspan="8">As per August 31, 2020, the Executive Board had three members and was chaired by the President and Chief Executive Officer (âCEOâ). The Executive Board forms part of the Corporate Leadership Team, which currently has six additional members and meets at least once a month apart from in the month of July. The Board of Directors appoints members of the Executive Board, and reviews their performance based on a recommendation from the Nomination Committee, and determines their remuneration based on a recommendation from the Remuneration Committee.</td></tr><tr><td colspan="8">No later than on October 31, 2020, the Executive Vice President &amp; CFO Søren Westh Lonning will step down from the Executive Board and be replaced by Lise Skaarup Mortensen. Lise Skaarup Mortensen comes from a position as CFO of Microsoft Germany.</td></tr><tr><td colspan="8">More information on the members of the Executive Board and the other members of the Corporate Leadership Team is available on pp 58-60 and at www.chr-hansen.com/en/about-us/management/executive-board-and-clt.</td></tr><tr><td colspan="8">Remuneration</td></tr><tr><td colspan="8">The remuneration of the Board of Directors and the Executive Board at Chr. Hansen must contribute towards ensuring that the Company is able to attract and retain highly qualified members to its Board of Directors and Executive Board. The remuneration and its composition is structured so as to create a suitable alignment of the interests of management and those of the shareholders. In this context, the remuneraton must contribute towards promoting the strategy, long-term sustainability and creation of value in the Chr. Hansen Group by supporting the Group's long- term and short-term objectives.</td></tr><tr><td colspan="8">Chr. Hansenâs Remuneration Policy forms the basis of the framework governing remuneration of the Board of Directors and the Executive Board. The Remuneration Policy was most recently revised at the 2019 Annual General Meeting held on November 27, 2019, when the Annual General Meeting approved amendments to the principles of the short-term incentive (cash bonus and restricted stock units) program and the long-term incentive (matching shares) program to the Executive Board by introducing target values, changing the maximum values, clarifying mandatory claw-back in the event of errors in the accounting figures or other basis for the award or vesting under the incentive programs, and specifying that with respect to the short-term incentive minimum of one-third of the earned short-term incentives will be granted in the form of restricted stock units. Further, the Annual General Meeting approved amendments in order to reflect that board members receive fixed travel allowance in connection with Board and committee-related meetings outside their country of residence instead of in connection with overseas travel only. The The Remuneration Report is available at www.chr-hansen.com/en/investors/governance/ remuneration.</td></tr><tr><td colspan="8">Chr. Hansen has prepared a separate Remuneration Report that provides an overview of the total remuneration received by each member of the Board of Directors and of the Executive Board during the 2019/20 financial year with comparative figures for past financial years where relevant.</td></tr><tr><td colspan="8">OVERVIEW OF MEMBERS AND ATTENDANCE</td></tr><tr><td /><td>Board &amp; meetings</td><td /><td /><td>Committees and meetings</td></tr><tr><td>Name</td><td>Position</td><td>Meetings</td><td /><td>Audit</td><td>Nomination</td><td>Remuneration</td><td>Scientific****</td></tr><tr><td>Ms. Dominique Reiniche</td><td>Chair</td><td>12/12</td><td /><td>4/4</td><td>3/3</td><td>4/4</td></tr><tr><td>Mr. Jesper Brandgaard</td><td>Vice Chair</td><td>12/12</td><td /><td>4/4</td><td>3/3</td></tr><tr><td>Mr. Luis Cantarell**</td><td>Member</td><td>11/12</td><td /><td /><td /><td /><td>5/5</td></tr><tr><td>Ms. Lisbeth Grubov</td><td>Employee Representative</td><td>12/12</td></tr><tr><td>Ms. Charlotte Hemmingsen**</td><td>Employee Representative</td><td>11/12</td></tr><tr><td>Ms. Heidi Kleinbach-Sauter</td><td>Member</td><td>12/12</td><td /><td /><td>1/2</td><td>1/1</td><td>5/5</td></tr><tr><td>Mr. Niels Peder Nielsen</td><td>Member</td><td>12/12</td><td /><td /><td /><td /><td>5/5</td></tr><tr><td>Mr. Per Poulsen</td><td>Employee Representative</td><td>12/12</td></tr><tr><td>Mr. Kim Ib Sørensen</td><td>Employee Representative</td><td>12/12</td></tr><tr><td>Mr. Kristian Villumsen***</td><td>Member</td><td>10/12</td><td /><td /><td>1/1</td><td>3/3</td></tr><tr><td>Mr. Mark Wilson</td><td>Member</td><td>12/12</td><td /><td>4/4</td><td /><td>4/4</td></tr><tr><td colspan="8">* Number of meetings attended by each board member out of the total number of meetings during the memberâs term.</td></tr><tr><td colspan="8">** The board member has been excused from one extraordinary board meeting convened with short notice during the member's term.</td></tr><tr><td colspan="8">*** The board member has been excused from two extraordinary board meetings convened with short notice during the member's term.</td></tr><tr><td colspan="8">**** As per September 24, 2020 the Scientific Committee has changed name to the Science &amp; Innovation Committeee.</td></tr><tr><td colspan="8">The Remuneration Report is available at www.chr-hansen.com/en/investors/governance/remuneration. Reference is also made to notes 2.3 (staff expenses) and 5.1 (share-based payment) to the Consolidated Financial Statements.</td></tr></table></mrv:CorporateGovernanceReport>
<mrv:StatementOfTargetFiguresAndPoliciesForTheUnderrepresentedGender contextRef="ctx13" 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">Diversity</td></tr><tr><td colspan="2">Having a diverse employee population is critical for our ability to deliver ambitious results. To achieve our long-term strategy, we are dependent on our internal capabilities to solve problems and create solutions. This is valid whether it is an apprentice in operations, a scientist in discovery or a manager in global sales. Our diversity policy is centered around the ambition of creating a workforce of employees where diversity, on a number of parameters, is high. We believe that diversity within gender, education, socio-economic background and experience are critical factors for creating a diverse culture and workplace. Key levers are recruitment and promotion processes, where managers are asked to look beyond traditional profiles in an effort to drive more diversity.</td></tr><tr><td colspan="2">We work with diversity broadly, yet believe that gender is an important parameter to pay attention to. As a result the targets presented here relates specifically to the gender composition at different management levels. This year, the percentage of female managers remained at 37%, compared to 43% female employees. Our target is to have equal ratio between female employees and female managers. The positive aspect is a stronger overall gender balance, with the possibility to promote more female managers from within over the next years. When hiring externally, also through recruitment agencies and headhunters, we set out specific requirements for a gender diverse pool of candidates. To ensure the right leadership focus on the diversity targets, diversity remains a component of the remuneration of the Executive Board and the other members of the Corporate Leadership Team.</td></tr><tr><td colspan="2">At board level, the Board of Directors of Chr. Hansen Holding A/S, with two out of the seven shareholder- elected members being women, has retained its equal gender representation, as defined under Danish law. The Board of Directors maintains the target of having at least three women elected by the shareholders by 2022, as well as a strong diversity of skills, experience and nationalities.</td></tr><tr><td colspan="2">The diversity level of the board of directors in other Denmark-based Chr. Hansen companies, was also stable with equal gender representation, as defined under Danish law.</td></tr><tr><td colspan="2">More performance data on diversity can be found in the Sustainability Data Sheet available at www.chr-hansen.com/sustainabilitydatasheet1920.</td></tr><tr><td colspan="2">DIVERSITY OF</td></tr><tr><td colspan="2">THE SHAREHOLDER-ELECTED BOARD MEMBERS</td></tr><tr><td>29%</td><td>71%</td></tr><tr><td>Female</td><td>Male</td></tr><tr><td colspan="2">Of the four employee-elected members of the Board, 50% are female and 50% are male.</td></tr></table></mrv:StatementOfTargetFiguresAndPoliciesForTheUnderrepresentedGender>
<mrv:StatementOfCorporateSocialResponsibility contextRef="ctx13" 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="3">From farm to fork</td></tr><tr><td colspan="3">â for a more sustainable food system</td></tr><tr><td colspan="3">As a global bioscience company developing natural solutions for the food, nutritional, pharmaceutical and agricultural industries, we have an important role to play in creating a food system that is resilient and prepared to feed a growing population while also minimizing its adverse climate impact.</td></tr><tr><td colspan="3">SUSTAINABLE AGRICULTURE</td></tr><tr><td>Natural plant protection</td><td>Better quality silage</td><td>Animal nutrition</td></tr><tr><td colspan="3">BETTER FOOD PRODUCTION</td></tr><tr><td>Quality and safety</td><td>Efficient prodcution</td><td>Less waste</td></tr><tr><td colspan="3">IMPROVED HEALTH</td></tr><tr><td>Healthier food</td><td>Supporting health</td><td>Next generation health</td></tr><tr><td colspan="3">Everyday more than 1 billion people consume a product containing Chr. Hansen's natural ingredients.</td></tr><tr><td colspan="3">With the offset in our microbial platform, we are uniquely positioned to address some of societyâs most pressing challenges such as climate change, food waste, global health, and the overuse of antibiotics and pesticides. Our ingredients may be small, and usually only make up a small part of a product, but their functionality has a large impact and is strategically critical to the final consumer product.</td></tr><tr><td colspan="3">Farm to fork</td></tr><tr><td colspan="3">Food production is estimated to account for nearly one-third of global greenhouse gas emissions2, which establishes a common responsibility across the sector to develop and adopt necessary adjustments. We work closely with partners across the entire food chain, and we experience growing demand from customers and consumers for innovative solutions that enable a sustainable transition. This is supported by global policy makers, such as the European Commission, who have set out high ambitions to change food policies towards a more fair, healthy and environmentally-friendly food system. At Chr. Hansen, we see this as a promising opportunity for our product portfolio and we actively support policy makers in these reform efforts.</td></tr><tr><td colspan="3">Our role in bringing sustainable solutions forward</td></tr><tr><td colspan="3">At Chr. Hansen, we have worked strategically with the UN Sustainable Development Goals since 2016. We focus on goals no. 2, 3 and 12 about sustainable agricultural practices, good health and less food waste, and have set ambitious targets to guide our work. Each year, we assess the percentage of our revenue that comes from products supporting one or more of the three UN Sustainable Development Goals. In 2019/20, the figure was 81% â up from 79%3. This is testimony to our purpose to grow a better world, naturally â all the way from farm to fork.</td></tr><tr><td colspan="3">Louise, Sustainability Program and Partnership Officer</td></tr><tr><td colspan="3">Chr. Hansen has over the past years, been recognized as a leader within sustainability. What has this meant for you?</td></tr><tr><td colspan="3">It is testimony to our company purpose and the valuable collaboration we have with customers all over the world, who are with us on this journey. But more importantly, it has been a real catalyst for change, and it has raised our own ambitions as well as the expectations from our investors and customers, who continue to set the bar higher.</td></tr><tr><td colspan="3">How are you supporting customers in their sustainability journey?</td></tr><tr><td colspan="3">We are currently experiencing an increase in the demand for sustainable solutions from our customers, who are also ambitious on their journey. By delivering natural, high performing solutions, we can support our customers in getting a more efficient production, reduced waste levels, higher yields and reducing their climate impact. We always take our starting point in the specific customer in question to ensure a solution that supports their specific strategic objectives.</td></tr><tr><td colspan="3">SUSTAINABLE AGRICULTURE</td></tr><tr><td>Natural plant protection</td><td>Better quality silage</td><td>Animal nutrition</td></tr><tr><td colspan="3">A sustainable food system starts with the farmer</td></tr><tr><td colspan="3">At Chr. Hansen, we believe that natural microbes are one of the answers to the current long-term sustainability challenges of the agricultural industry. These microbes â or good bacteria as we like to call them â provide plants with access to nutrients and defend them from harmful invaders.</td></tr><tr><td colspan="3">Supporting farmers to find more sustainable practices</td></tr><tr><td colspan="3">Climate change, scarce resources and a growing population are all factors putting immense pressure on the agricultural industry. With prospects of a population of more than 9 billion people in 2050, it is estimated that the agricultural industry will need to increase its efficiency by 70% in order to feed the worldâs population 30 years from now. With conventional approaches this requires land corresponding to an area nearly twice the size of India.</td></tr><tr><td colspan="3">While farmers are currently challenged to find the right solutions that can support them with productivity improvements, the global agricultural industry is facing ever more challenging conditions due to more harsh weather conditions, pest resistance development and a decline in new chemical technology entering the market.</td></tr><tr><td colspan="3">Farmers are eager to find new and sustainable solutions and alternatives to their existing tools that can support them in maximizing yields and productivity, while also sustaining biodiversity and the future performance of the fields, and we are here to support them on that journey.</td></tr><tr><td colspan="3">Since 2015/16, we have treated an accumulated 13.6 million hectares of land with our natural plant solutions.</td></tr><tr><td colspan="3">BENEFITS TO SOIL AND WATER USE</td></tr><tr><td colspan="3">Trials have shown that the bacillus-based products also can enhance enzymatic activity in the soil, which is central for plant health. In addition, a recent peer-reviewed and published article shows how Chr. Hansenâs biological product increases water use efficiency for the plant, ultimately making the field more water efficient.</td></tr><tr><td colspan="3">Enhancing crop resilience with bacillus bacteria</td></tr><tr><td colspan="3">Bacillus bacteria are used in Chr. Hansenâs biological crop protection. Bacillus are a natural part of the bacterial composition of the soil. Some of our bacterial solutions are strong root colonizers, which create a physical and biochemical barrier that is particularly effective in protecting the roots against attacks from the plant parasites nematodes. As the crop is better protected and more robust, the good bacteria can also increase productivity and yield. Field trials have shown an average yield increase of up to 10% in selected crops.</td></tr><tr><td colspan="3">We continuously develop our product range and expand to new crops beyond sugar and soy, and a number of trials are ongoing for high value crops like coffee. This enables us to offer more and wider biological solutions for the farmers in our markets.</td></tr><tr><td colspan="3">We continue our support in Kenya through our Danidafunded partnership with CARE Denmark, which shows good progress on trials within local crops such as flowers, potatoes, sugar cane and corn. Although still limited, the data looks promising and we are excited to see how the project evolves over the coming year. The partnership was established in 2016 for the purpose of supporting small-scale farmers in Kenya by giving them access to our biological technology. Not only does this support a more sustainable direction of the local industry, it may also create a higher financial return for the farmers.</td></tr><tr><td colspan="3">BETTER FOOD PRODUCTION</td></tr><tr><td>Quality and safety</td><td>Efficient prodcution</td><td>Less waste</td></tr><tr><td colspan="3">Limiting waste and saving resources</td></tr><tr><td colspan="3">Chr. Hansen supports the fight against food waste by enabling our customers to develop high quality products with extended shelf life. Through our food cultures with better bioprotective effects, the products last longer and less is wasted.</td></tr><tr><td colspan="3">The food waste challenge is global and significant</td></tr><tr><td colspan="3">When producing food, resources go into growing, harvesting, processing, producing, packing and transporting food. Needless to say, anything wasted in the process or at the consumer is a waste of resources. The carbon load of food waste is estimated to be 8% of total global greenhouse gas emissions, which sadly means that, if food waste was a country, it would be the third largest in the world in terms of its climate impact â exceeded only by China and the US10. As a central player in the food industry, we have a responsibility to ensure that most of what leaves the farm also makes it to the consumerâs plate.</td></tr><tr><td colspan="3">We are proud of our membership of ONE/THIRD, the Danish Government's think tank on food waste, and wish to contribute to further advance innovative solutions, sharing best practices and joining calls to action.</td></tr><tr><td colspan="3">Reducing food waste starts with improving food quality</td></tr><tr><td colspan="3">As 80% of waste within dairy is the result of relatively short product shelf life, there is a great potential in reducing food waste by adding extra days of shelf life to a product. Through food cultures with better bioprotective effect, Chr. Hansen enables dairy producers to make a yogurt with a conservative estimate of 7 days extra shelf life. An impact study commissioned by Chr. Hansen, shows that this can help reduce the waste of yogurt in Europe by 30%.</td></tr><tr><td colspan="3">The food cultures are a combination of carefully selected bacterial strains that not only ferment milk into yogurt, but also protect against contamination from yeast and mold by delaying the growth of bad bacteria. This provides benefits to producers, retailers and consumers by adding more days to distribute or consume the product.</td></tr><tr><td colspan="3">Consumer behavior and date labelling are central</td></tr><tr><td colspan="3">It is our conviction that the fight against food waste is about food quality as well as consumer behavior. For both aspects, correct date labelling is crucial. âBest beforeâ or âUse byâ are the two common types of date labelling, considering respectively food quality and food safety. Fermented dairy products like yogurt and cheese do not per se pose a health risk at the end of shelf life, yet as 68% of yogurt products across Europe are date labelled with âuse byâ, consumers are more likely to blindly throw them out at the end of shelf life, potentially wasting food that is still good to eat.</td></tr><tr><td colspan="3">At Chr. Hansen, we advocate for a standardized approach to date labelling of yogurt to avoid the unnecessary use of the âuse byâ date label, and we support the practice of adding âOften good afterâ to the âBest beforeâ date. Consumers should be encouraged to engage their senses to assess if the product is still good to eat. This requires a change in consumer behavior, clear and standardized date labelling and a product for which the quality is high and can be maintained, even at the end of shelf life.</td></tr><tr><td colspan="3">Increased demand for innovative solutions that reduce food waste</td></tr><tr><td colspan="3">During the year, we have experienced growing interest from our customers in reducing food waste across our regions. We also see many of the big global food producers taking a more strategic approach to reducing food waste, including our solutions as one of the levers to advance the agenda.</td></tr><tr><td colspan="3">The range of food cultures with more bioprotective effect is expanding and the product application is becoming broader. During the year, we have seen growing demand for using the technology, especially in yogurt and fermented milk like sour cream, but also in other product categories within dairy, such as white and soft cheeses. During the year we reduced 200,000 tons of yogurt waste with the bioprotective food cultures. Since the base year 2015/16, we have helped avoid an accumulated 780,000 tons of yogurt waste.</td></tr><tr><td colspan="3">SCIENTIFIC BREAKTHROUGH</td></tr><tr><td colspan="3">This year, Chr. Hansenâs scientists revealed the mechanism behind the food cultures with better bioprotective effect. The bacteria in the culture absorb a nutrient â manganese â that yeast and mold need in order to grow. The findings are documented in a scientific article featured in the prestigious Applied and Environmental Microbiology Journal.</td></tr><tr><td colspan="3">IMPROVED HEALTH</td></tr><tr><td>Healthier food</td><td>Supporting health</td><td>Next generation health</td></tr><tr><td colspan="3">A healthy lifestyle starts in the gut</td></tr><tr><td colspan="3">The bacterial composition of our gut is critical for our health and well-being, supporting, among other things, our digestion and immune system.</td></tr><tr><td colspan="3">Bringing back naturally occurring bacteria to our gut</td></tr><tr><td colspan="3">From shortly after birth, our gut is home to trillions of good bacteria and during the first two-and-a half years, the diversity and stability of the gut microbes increase dramatically. It is a fascinating ecosystem of more than 38 trillion bacteria, of which approximately 90% reside in our lower intestines or colon. Over time, harmful bacteria and other immune challenges can make the bacterial composition in the gut less diverse, which may influence our immune health.</td></tr><tr><td colspan="3">The microbial balance in the gut can be restored and maintained by adding probiotics to our diet. At Chr. Hansen, we believe that there can be significant health benefits in bringing back these naturallyoccurring bacteria by adding them to our food or as dietary supplements.</td></tr><tr><td colspan="3">Supporting immune health</td></tr><tr><td colspan="3">Up to 70% - 80% of our immunity cells reside in the gut16. Studies show that the probiotic strain L. CASEI 431® may support the immune response, and help reduce the duration of respiratory discomfort17. Previous studies further show that there can be potential health benefits from the strains Lactobacillus Rhamnosus (LGG®) and Bifidobacterium (BB-12®) in reducing the duration and severity of flu-like sickness. A health-economic study further showed the potential value, both from an individual as well as a societal perspective, in taking probiotics.</td></tr><tr><td colspan="3">This year 163 million people consumed our probiotic solutions</td></tr><tr><td colspan="3">Probiotics and crying and fussing in babies</td></tr><tr><td colspan="3">Up to one in four babies globally suffer from excessive crying and fussing. It may be due to digestive upset, which can be caused by a lower count of good bacteria and increased concentrations of undesirable bacteria in their digestive tracts21. This year, a study investigating the impact of Chr. Hansenâs probiotic strain Bifidobacterium, BB-12® was published. The study shows that a daily intake of Bifidobacterium, BB-12® may provide help to infants suffering from excessive crying and fussing. 80% of the infants in the study who received the Bifidobacterium, BB-12®, reduced the duration of crying by 50% or more.</td></tr><tr><td colspan="3">Probiotics for preterm infants</td></tr><tr><td colspan="3">Another milestone this year within the probiotic sphere, is a solution for preterm babies. Today, about 1%-2% of all infants are born very preterm or extremely preterm. Necrotizing enterocolitis (NEC) is an inflammatory disease that affects approximately 5% of preterm babies. NEC has a mortality rate of up to 30%, making it a leading cause of mortality worldwide for this group. Experts believe that an underdeveloped or damaged intestine is the main cause of NEC.</td></tr><tr><td colspan="3">Studies show that a three-strain probiotic blend by Chr. Hansen (Bifidobacterium, BB-12®, Streptococcus thermophilus, TH-4® and Bifidobacterium infantis) has been shown to reduce the risk of NEC by 50%22 . The product is now used in neonatal intensive care units where it is fed to babies through a feeding tube.</td></tr><tr><td colspan="3">The study was reinforced as the probiotic blend was endorsed by the organization European Society for Pediatric Gastroenterology Hepatology and Nutrition (ESPHGAN), which included the specific blend in its recommendations for infants suffering from NEC.</td></tr><tr><td colspan="3">Christel, Head of Mergers and Acquisitions Legal</td></tr><tr><td colspan="3">Chr. Hansen has been very active on the M&amp;A side this past year. Can you share some perspectives on that?</td></tr><tr><td colspan="3">We have a strong focus on continuing to strengthen the Chr. Hansen global microbial platform. During the year there have been attractive companies with the quality and focus matching the ambitions and strategy of Chr. Hansen. We have succeeded with the acquisition of UAS Laboratories, HSO Health Care and Jennewein through a focused and agile due diligence team in close collaboration with various departments throughout the organization.</td></tr><tr><td colspan="3">What do you wish to achieve in the probiotic segment through M&amp;A?</td></tr><tr><td colspan="3">We want to accelerate and grow the Health &amp; Nutrition business globally. The probiotic space is one of our focus areas and the two acquisitions support our ambition to develop and expand the global probiotics market.</td></tr><tr><td colspan="3">Solutions for a more environmental and climate-friendly future</td></tr><tr><td colspan="3">Climate change is undoubtedly the defining issue of our time â and we are at a crucial crossroads. This year, at Chr. Hansen, we raised our ambition and strengthened our climate commitment to ensure that we play our part in reducing greenhouse gas emissions.</td></tr><tr><td colspan="3">Chr. Hansen joins the UN Climate Initiative to limit global temperature rise to 1.5oC</td></tr><tr><td colspan="3">By joining the âBusiness Ambition for 1.5oCâ, led by a global coalition of UN agencies and leading companies, we commit to set ambitious carbon emission reduction targets through the Science Based Targets initiative.</td></tr><tr><td colspan="3">We are currently defining science-based carbon emission reduction targets across our entire value chain, and we will continue to find ways to raise the bar, focusing on reducing emissions from production and transportation.</td></tr><tr><td colspan="3">1.5°C</td></tr><tr><td colspan="3">Producing good bacteria on solar power</td></tr><tr><td colspan="3">During the year, Chr. Hansen entered a new ambitious 10-year agreement with the organization Better Energy â a Power Purchase Agreement (PPA). Through the partnership, we commit to purchase electricity from renewable sources corresponding to the use of 15,000 households, covering 100% of the electricity need for all of our Danish sites.</td></tr><tr><td colspan="3">Central to the agreement is our ambition to contribute to the global transition to green energy, which happens through the construction and opening of two new solar parks in Denmark. The energy supply is secured with power production from a mix of several other renewable sources such as wind or biogas, to ensure a steady supply even when there is no sunshine.</td></tr><tr><td colspan="3">Currently, this ensures that 40% of our global electricity consumption is based on renewables24, but this is only the beginning. We are currently investigating how to scale this model to cover all of our global sites.</td></tr><tr><td colspan="3">MEMBER OF THE DANISH GOVERNMENTâS CLIMATE PARTNERSHIP</td></tr><tr><td colspan="3">Chr. Hansen participated in the Danish Governmentâs Climate partnership for the food and agricultural sector. Together with twelve other partnerships representing different industries, the purpose of the climate partnerships was to define initiatives to reach the Danish Governmentâs climate ambition of reducing COâ emissions by 70% by 2030</td></tr><tr><td colspan="3">Up- and recycling resources</td></tr><tr><td colspan="3">As a production company we continuously work to ensure that, to the extent possible, the materials we use and the waste we generate can be recycled or upscaled to alternative uses.</td></tr><tr><td colspan="3">Our packaging materials are one of the areas where we add extra focus on ensuring recyclability, especially of plastic-based components. Although an important and ubiquitous material, the million tons of plastic litter that end up in the oceans every year is one of the most visible and alarming signs of the challenge to properly design and enable proper reuse of the material. With millions of tons of products leaving our premise each year, we are committed to being part of the solution for ensuring recyclability of our main packaging materials. Packaging is complex and requirements are high in order to ensure that food safety and quality standards are upheld. We are currently conducting feasibility studies for alternative material choices.</td></tr><tr><td colspan="3">When it comes to our waste streams, the majority of this is composed by biowaste, which is primarily eluate, a bi-product from our culture production. This is still rich in nutrients and are therefore of value when we pass it on for alternative production flows, where it is transformed to for example biogas or fertilizers.</td></tr><tr><td colspan="3">Leverage strong culture to drive employee engagement</td></tr><tr><td colspan="3">As a bioscience company with focus on innovation, our future relies on our ability to generate ideas and create solutions. It requires an innovative approach to people development, a strong culture, and a leadership dedicated to making the right choices in order to be able to attract and develop the right people</td></tr><tr><td colspan="3">LTIF: 1.3</td></tr><tr><td colspan="3">Unique culture and employee engagement</td></tr><tr><td colspan="3">Chr. Hansen's company culture, articulates the unique behavior of Chr. Hansen employees, and together with employee engagement, it is instrumental in ensuring high performance and future success.</td></tr><tr><td colspan="3">We are dedicated to ensure proper introduction to the culture during onboarding as well as stepping up the montioring of engagement to better reflect real-time engagement levels, provide more instant responses and give us better insights to react.</td></tr><tr><td colspan="3">Digital super users</td></tr><tr><td colspan="3">It is our mission to be a modern employer where leadership, development and flexible work life are present and enabled by digital solutions.</td></tr><tr><td colspan="3">Our future success and ability to deliver on our strategy, depends on the experience and expertise of our employees. Due to the fast pace of technologies and innovation, it is predicted that over the span of three years, employees need to be reskilled for one third of their job content as new requirements and tools will surface27. With that in mind, it is central for us to ensure that all our employees are on a continuous development journey, with special focus on digital learning. We want to increase knowledge and learning in a flexible and fast-paced manner, at the employee's preferred time and location.</td></tr><tr><td colspan="3">A new flexible workplace position will be in effect at the end of the calendar year to better match the needs of the individual employees and prepare for a more flexible and digitally driven workplace globally.</td></tr><tr><td colspan="3">Safety above all</td></tr><tr><td colspan="3">At Chr. Hansen, nothing is more important to us, than the health and safety of our employees. This year, employee health and safety has been even more prominent due to the COVID-19 pandemic. With our underlying safety DNA, we have been able to adapt and ensure business continuity, while also implementing new protocols and even stricter safety measures. Safety is an ongoing journey, but we believe that we have the right mindset and tools to continue our efforts to keep each other safe.</td></tr><tr><td colspan="3">While a safe workplace and production set-up can minimize a significant part of potential incidents, we know that human behavior is critical in making significant reductions in number of incidents. It is estimated that more than 85% of workplace injuries and accidents can be linked to human behavior28. We therefore rely on a combination of robust management systems, behavior-based training and consistent and clear communicaitons to minimize the number of incidents.</td></tr><tr><td colspan="3">The COVID-19 crisis has given us the possibility to fast forward on the digital agenda, rethinking how meetings, trainings and seminars might look.</td></tr><tr><td colspan="3">AWARD WINNING SAFETY FOCUS</td></tr><tr><td colspan="3">Ethics and responsibility from supplier to customer</td></tr><tr><td colspan="3">Chr. Hansen is committed to ensuring that the business we conduct globally is fair, transparent and ethical.</td></tr><tr><td colspan="3">ENCOURAGING STAKEHOLDERS TO RAISE CONCERNS</td></tr><tr><td colspan="3">A total of six cases were reported during the year, including five through our Whistleblower Hotline. The cases related to harassment, discrimination and falsification of documents and embezzlements. All cases were investigated, four cases have been closed, three of which were substantiated. Two cases are still under investigation.</td></tr><tr><td colspan="3">Leading with integrity</td></tr><tr><td colspan="3">As we operate across industries and geographical contexts where risks to business integrity may vary, it is essential that we continue to set the bar high to ensure that we act in compliance within all parts of our business, whether it is about selling products, sourcing materials or collaborating with external parties.</td></tr><tr><td colspan="3">It is our responsibility that our employees receive the relevant and necessary training so they know how to act in different situations. Each year, we require that 100% of relevant employees complete mandatory online training in, among other areas, anti-corruption and anti-trust. Where relevant, we supplement e-learning with in-person training across regions. This year, 98% completed the annual e-learning training. The number is lower than the expected due to the implications of COVID-19 on our production sites, making it difficult for certain employee groups to complete the e-learning.</td></tr><tr><td colspan="3">Sourcing and selling responsibly</td></tr><tr><td colspan="3">With a wide product portfolio follows a wide supplier and customer base. It is our responsibility, regardless of the industry we source from, to ensure that it is done in a responsible manner, and that we are a responsible and transparent supplier to our customers. In addition to our vendor approval program, which includes requirements for sustainability, capacity building is central to our supplier program. We work closely and in long-term collaborations with our suppliers to improve standards and quality. Our internal auditors receive regular training to ensure that the highest environmental and labor standards are upheld throughout our supply chain.</td></tr><tr><td colspan="3">Chr. Hansen is a member of Sedex, one of the worldâs largest collaborative platforms for sharing responsible sourcing data throughout the supply chain. Third party social and environmental audits are performed at all Chr. Hansen production sites once every three years, as a minimum.</td></tr><tr><td colspan="3">Whether it concerns our own employees, our suppliers or the communities we operate in, we work diligently to ensure that human rights are respected. Our annual human rights due diligence assessment shows that our main risks lie in our supply chain due to the inherent risk of some of the geographical contexts we source from. We strive to mitigate these through our responsible sourcing program by setting out requirements, conducting audits and focusing on capacity building at the suppliers.</td></tr><tr><td colspan="3">Transparent tax reporting</td></tr><tr><td colspan="3">Transparent tax practices are central to ensuring corporate fiscal accountability and responsible business practices in all countries we operate in. Although we pursue competitive tax levels in each jurisdiction of operation, this never compromises the requirements â and our commitment â to comply with local tax regulations and international transfer pricing principles. Our positions on tax guide the tax payments and set-up. Each year we submit our country-by-country report to the Danish tax authorities as required.</td></tr><tr><td colspan="3">During the year, Chr. Hansen supported the NGO Dairy Without Borders with a financial donation. Dairy Without Borders intends to use the money to help small milk farmers optimize their production, ahieve better prices and improve food safety.</td></tr></table></mrv:StatementOfCorporateSocialResponsibility>
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<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx21" xml:lang="da">Sale and lease back proceeds</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx21" unitRef="vEUR" decimals="-6">0</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx22" xml:lang="da">Sale and lease back proceeds</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx22" unitRef="vEUR" decimals="-5">67600000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx23" xml:lang="da">Cash flow from operational investing activities - continuing operations</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx23" unitRef="vEUR" decimals="-5">-118800000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx24" xml:lang="da">Cash flow from operational investing activities - continuing operations</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx24" unitRef="vEUR" decimals="-5">-50500000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx25" xml:lang="da">Cash flow from operational investing activities - discontinued operations</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx25" unitRef="vEUR" decimals="-5">-20900000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx26" xml:lang="da">Cash flow from operational investing activities - discontinued operations</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx26" unitRef="vEUR" decimals="-5">-21300000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx27" xml:lang="da">Cash flow from operational investing activities</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx27" unitRef="vEUR" decimals="-5">-139700000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx28" xml:lang="da">Cash flow from operational investing activities</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx28" unitRef="vEUR" decimals="-5">-71800000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx29" xml:lang="da">Loan to joint ventures</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx29" unitRef="vEUR" decimals="-5">-5100000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx30" xml:lang="da">Loan to joint ventures</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx30" unitRef="vEUR" decimals="-6">0</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx31" xml:lang="da">Cash flow from investing activities - continuing operations</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx31" unitRef="vEUR" decimals="-5">-786600000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx32" xml:lang="da">Cash flow from investing activities - continuing operations</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx32" unitRef="vEUR" decimals="-5">-60300000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx33" xml:lang="da">Cash flow from investing activities - discontinued operations</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx33" unitRef="vEUR" decimals="-5">-20900000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx34" xml:lang="da">Cash flow from investing activities - discontinued operations</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities contextRef="ctx34" unitRef="vEUR" decimals="-5">-21300000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInInvestingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx35" xml:lang="da">Borrowings</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx35" unitRef="vEUR" decimals="-5">989400000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx36" xml:lang="da">Borrowings</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx36" unitRef="vEUR" decimals="-5">315800000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx37" xml:lang="da">Cash flow from financing activities - continuing operations</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx37" unitRef="vEUR" decimals="-5">470700000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx38" xml:lang="da">Cash flow from financing activities - continuing operations</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx38" unitRef="vEUR" decimals="-5">-191600000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx39" xml:lang="da">Cash flow from financing activities - discontinued operations</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx39" unitRef="vEUR" decimals="-5">-13900000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx40" xml:lang="da">Cash flow from financing activities - discontinued operations</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities contextRef="ctx40" unitRef="vEUR" decimals="-5">-8900000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInFinancingActivities>
<ifrs-full:CashAndCashEquivalents contextRef="ctx41" unitRef="vEUR" decimals="-5">87400000</ifrs-full:CashAndCashEquivalents>
<ifrs-full:CashAndCashEquivalents contextRef="ctx42" unitRef="vEUR" decimals="-5">69100000</ifrs-full:CashAndCashEquivalents>
<ifrs-full:CashAndCashEquivalents contextRef="ctx43" unitRef="vEUR" decimals="-5">96200000</ifrs-full:CashAndCashEquivalents>
<ifrs-full:Goodwill contextRef="ctx43" unitRef="vEUR" decimals="-5">1249100000</ifrs-full:Goodwill>
<ifrs-full:OtherIntangibleAssets contextRef="ctx43" unitRef="vEUR" decimals="-5">321700000</ifrs-full:OtherIntangibleAssets>
<ifrs-full:PropertyPlantAndEquipment contextRef="ctx43" unitRef="vEUR" decimals="-5">654800000</ifrs-full:PropertyPlantAndEquipment>
<ifrs-full:InvestmentsInJointVentures contextRef="ctx43" unitRef="vEUR" decimals="-5">8800000</ifrs-full:InvestmentsInJointVentures>
<ifrs-dk:NoncurrentReceivablesFromJointVentures contextRef="ctx43" unitRef="vEUR" decimals="-5">5100000</ifrs-dk:NoncurrentReceivablesFromJointVentures>
<ifrs-full:DeferredTaxAssets contextRef="ctx43" unitRef="vEUR" decimals="-6">7000000</ifrs-full:DeferredTaxAssets>
<ifrs-full:NoncurrentAssets contextRef="ctx43" unitRef="vEUR" decimals="-5">2246500000</ifrs-full:NoncurrentAssets>
<ifrs-full:Inventories contextRef="ctx43" unitRef="vEUR" decimals="-5">122300000</ifrs-full:Inventories>
<ifrs-full:CurrentTradeReceivables contextRef="ctx43" unitRef="vEUR" decimals="-5">145100000</ifrs-full:CurrentTradeReceivables>
<ifrs-full:CurrentTaxAssetsCurrent contextRef="ctx43" unitRef="vEUR" decimals="-5">4100000</ifrs-full:CurrentTaxAssetsCurrent>
<ifrs-full:OtherCurrentReceivables contextRef="ctx43" unitRef="vEUR" decimals="-5">24600000</ifrs-full:OtherCurrentReceivables>
<ifrs-full:CurrentPrepayments contextRef="ctx43" unitRef="vEUR" decimals="-5">12400000</ifrs-full:CurrentPrepayments>
<ifrs-full:CurrentAssets contextRef="ctx43" unitRef="vEUR" decimals="-5">404700000</ifrs-full:CurrentAssets>
<ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale contextRef="ctx43" unitRef="vEUR" decimals="-5">202400000</ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale>
<ifrs-full:Assets contextRef="ctx43" unitRef="vEUR" decimals="-5">2853600000</ifrs-full:Assets>
<ifrs-full:IssuedCapital contextRef="ctx43" unitRef="vEUR" decimals="-5">177100000</ifrs-full:IssuedCapital>
<ifrs-full:OtherReserves contextRef="ctx43" unitRef="vEUR" decimals="-5">715900000</ifrs-full:OtherReserves>
<ifrs-full:Equity contextRef="ctx43" unitRef="vEUR" decimals="-6">893000000</ifrs-full:Equity>
<ifrs-full:NoncurrentProvisionsForEmployeeBenefits contextRef="ctx43" unitRef="vEUR" decimals="-5">6600000</ifrs-full:NoncurrentProvisionsForEmployeeBenefits>
<ifrs-full:DeferredTaxLiabilities contextRef="ctx43" unitRef="vEUR" decimals="-5">133300000</ifrs-full:DeferredTaxLiabilities>
<ifrs-full:OtherLongtermProvisions contextRef="ctx43" unitRef="vEUR" decimals="-5">3500000</ifrs-full:OtherLongtermProvisions>
<ifrs-full:LongtermBorrowings contextRef="ctx43" unitRef="vEUR" decimals="-5">736700000</ifrs-full:LongtermBorrowings>
<ifrs-full:CurrentTaxLiabilitiesNoncurrent contextRef="ctx43" unitRef="vEUR" decimals="-6">12000000</ifrs-full:CurrentTaxLiabilitiesNoncurrent>
<ifrs-full:OtherNoncurrentLiabilities contextRef="ctx43" unitRef="vEUR" decimals="-5">43400000</ifrs-full:OtherNoncurrentLiabilities>
<ifrs-full:OtherNoncurrentPayables contextRef="ctx43" unitRef="vEUR" decimals="-5">7800000</ifrs-full:OtherNoncurrentPayables>
<ifrs-full:NoncurrentLiabilities contextRef="ctx43" unitRef="vEUR" decimals="-5">943300000</ifrs-full:NoncurrentLiabilities>
<ifrs-full:ShorttermBorrowings contextRef="ctx43" unitRef="vEUR" decimals="-5">685200000</ifrs-full:ShorttermBorrowings>
<ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers contextRef="ctx43" unitRef="vEUR" decimals="-5">101200000</ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers>
<ifrs-full:CurrentTaxLiabilitiesCurrent contextRef="ctx43" unitRef="vEUR" decimals="-6">29000000</ifrs-full:CurrentTaxLiabilitiesCurrent>
<ifrs-full:OtherCurrentLiabilities contextRef="ctx43" unitRef="vEUR" decimals="-5">1800000</ifrs-full:OtherCurrentLiabilities>
<ifrs-full:OtherCurrentPayables contextRef="ctx43" unitRef="vEUR" decimals="-5">99700000</ifrs-full:OtherCurrentPayables>
<ifrs-full:CurrentLiabilities contextRef="ctx43" unitRef="vEUR" decimals="-5">916900000</ifrs-full:CurrentLiabilities>
<ifrs-full:Liabilities contextRef="ctx43" unitRef="vEUR" decimals="-5">1860200000</ifrs-full:Liabilities>
<ifrs-dk:LiabilitiesAssociatedWithAssetsHeldForSale contextRef="ctx43" unitRef="vEUR" decimals="-5">100400000</ifrs-dk:LiabilitiesAssociatedWithAssetsHeldForSale>
<ifrs-full:EquityAndLiabilities contextRef="ctx43" unitRef="vEUR" decimals="-5">2853600000</ifrs-full:EquityAndLiabilities>
<ifrs-full:CashAndCashEquivalents contextRef="ctx44" unitRef="vEUR" decimals="-5">87400000</ifrs-full:CashAndCashEquivalents>
<ifrs-full:Goodwill contextRef="ctx44" unitRef="vEUR" decimals="-5">772900000</ifrs-full:Goodwill>
<ifrs-full:OtherIntangibleAssets contextRef="ctx44" unitRef="vEUR" decimals="-5">225500000</ifrs-full:OtherIntangibleAssets>
<ifrs-full:PropertyPlantAndEquipment contextRef="ctx44" unitRef="vEUR" decimals="-5">577800000</ifrs-full:PropertyPlantAndEquipment>
<ifrs-full:InvestmentsInJointVentures contextRef="ctx44" unitRef="vEUR" decimals="-6">0</ifrs-full:InvestmentsInJointVentures>
<ifrs-dk:NoncurrentReceivablesFromJointVentures contextRef="ctx44" unitRef="vEUR" decimals="-6">0</ifrs-dk:NoncurrentReceivablesFromJointVentures>
<ifrs-full:DeferredTaxAssets contextRef="ctx44" unitRef="vEUR" decimals="-5">7600000</ifrs-full:DeferredTaxAssets>
<ifrs-full:NoncurrentAssets contextRef="ctx44" unitRef="vEUR" decimals="-5">1583800000</ifrs-full:NoncurrentAssets>
<ifrs-full:Inventories contextRef="ctx44" unitRef="vEUR" decimals="-6">160000000</ifrs-full:Inventories>
<ifrs-full:CurrentTradeReceivables contextRef="ctx44" unitRef="vEUR" decimals="-5">192700000</ifrs-full:CurrentTradeReceivables>
<ifrs-full:CurrentTaxAssetsCurrent contextRef="ctx44" unitRef="vEUR" decimals="-5">3800000</ifrs-full:CurrentTaxAssetsCurrent>
<ifrs-full:OtherCurrentReceivables contextRef="ctx44" unitRef="vEUR" decimals="-5">19100000</ifrs-full:OtherCurrentReceivables>
<ifrs-full:CurrentPrepayments contextRef="ctx44" unitRef="vEUR" decimals="-6">11000000</ifrs-full:CurrentPrepayments>
<ifrs-full:CurrentAssets contextRef="ctx44" unitRef="vEUR" decimals="-6">474000000</ifrs-full:CurrentAssets>
<ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale contextRef="ctx44" unitRef="vEUR" decimals="-6">0</ifrs-full:NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSale>
<ifrs-full:Assets contextRef="ctx44" unitRef="vEUR" decimals="-5">2057800000</ifrs-full:Assets>
<ifrs-full:IssuedCapital contextRef="ctx44" unitRef="vEUR" decimals="-5">176800000</ifrs-full:IssuedCapital>
<ifrs-full:OtherReserves contextRef="ctx44" unitRef="vEUR" decimals="-5">620400000</ifrs-full:OtherReserves>
<ifrs-full:Equity contextRef="ctx44" unitRef="vEUR" decimals="-5">797200000</ifrs-full:Equity>
<ifrs-full:NoncurrentProvisionsForEmployeeBenefits contextRef="ctx44" unitRef="vEUR" decimals="-5">7800000</ifrs-full:NoncurrentProvisionsForEmployeeBenefits>
<ifrs-full:DeferredTaxLiabilities contextRef="ctx44" unitRef="vEUR" decimals="-5">91200000</ifrs-full:DeferredTaxLiabilities>
<ifrs-full:OtherLongtermProvisions contextRef="ctx44" unitRef="vEUR" decimals="-5">3800000</ifrs-full:OtherLongtermProvisions>
<ifrs-full:LongtermBorrowings contextRef="ctx44" unitRef="vEUR" decimals="-5">723500000</ifrs-full:LongtermBorrowings>
<ifrs-full:CurrentTaxLiabilitiesNoncurrent contextRef="ctx44" unitRef="vEUR" decimals="-5">15600000</ifrs-full:CurrentTaxLiabilitiesNoncurrent>
<ifrs-full:OtherNoncurrentLiabilities contextRef="ctx44" unitRef="vEUR" decimals="-5">49600000</ifrs-full:OtherNoncurrentLiabilities>
<ifrs-full:OtherNoncurrentPayables contextRef="ctx44" unitRef="vEUR" decimals="-5">8300000</ifrs-full:OtherNoncurrentPayables>
<ifrs-full:NoncurrentLiabilities contextRef="ctx44" unitRef="vEUR" decimals="-5">899800000</ifrs-full:NoncurrentLiabilities>
<ifrs-full:ShorttermBorrowings contextRef="ctx44" unitRef="vEUR" decimals="-5">98300000</ifrs-full:ShorttermBorrowings>
<ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers contextRef="ctx44" unitRef="vEUR" decimals="-5">132100000</ifrs-full:TradeAndOtherCurrentPayablesToTradeSuppliers>
<ifrs-full:CurrentTaxLiabilitiesCurrent contextRef="ctx44" unitRef="vEUR" decimals="-5">40700000</ifrs-full:CurrentTaxLiabilitiesCurrent>
<ifrs-full:OtherCurrentLiabilities contextRef="ctx44" unitRef="vEUR" decimals="-5">1800000</ifrs-full:OtherCurrentLiabilities>
<ifrs-full:OtherCurrentPayables contextRef="ctx44" unitRef="vEUR" decimals="-5">87900000</ifrs-full:OtherCurrentPayables>
<ifrs-full:CurrentLiabilities contextRef="ctx44" unitRef="vEUR" decimals="-5">360800000</ifrs-full:CurrentLiabilities>
<ifrs-full:Liabilities contextRef="ctx44" unitRef="vEUR" decimals="-5">1260600000</ifrs-full:Liabilities>
<ifrs-dk:LiabilitiesAssociatedWithAssetsHeldForSale contextRef="ctx44" unitRef="vEUR" decimals="-6">0</ifrs-dk:LiabilitiesAssociatedWithAssetsHeldForSale>
<ifrs-full:EquityAndLiabilities contextRef="ctx44" unitRef="vEUR" decimals="-5">2057800000</ifrs-full:EquityAndLiabilities>
<cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx45" xml:lang="da">Mauricio Graber</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
<cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx45" xml:lang="da">President and CEO</cmn:TitleOfMemberOfExecutiveBoard>
<cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx46" xml:lang="da">Søren Westh Lonning</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
<cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx46" xml:lang="da">CFO</cmn:TitleOfMemberOfExecutiveBoard>
<cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx47" xml:lang="da">Thomas Schäfer</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
<cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx47" xml:lang="da">CSO</cmn:TitleOfMemberOfExecutiveBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx48" xml:lang="da">Dominique Reiniche</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx48" xml:lang="da">Chair</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx49" xml:lang="da">Jesper Brandgaard</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx49" xml:lang="da">Vice Chair</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx50" xml:lang="da">Luis Cantarell</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx51" xml:lang="da">Lisbeth Grubov</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx52" xml:lang="da">Charlotte Hemmingsen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx53" xml:lang="da">Heidi Kleinbach-Sauter</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx54" xml:lang="da">Niels Peder Nielsen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx55" xml:lang="da">Per Poulsen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx56" xml:lang="da">Kim Ib Sørensen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx57" xml:lang="da">Kristian Villumsen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx58" xml:lang="da">Mark Wilson</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameOfAuditFirm contextRef="ctx59" xml:lang="da">PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab</cmn:NameOfAuditFirm>
<cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx59">33771231</cmn:IdentificationNumberCvrOfAuditFirm>
<cmn:NameAndSurnameOfAuditor contextRef="ctx59" xml:lang="da">Kim Tromholt</cmn:NameAndSurnameOfAuditor>
<cmn:DescriptionOfAuditor contextRef="ctx59" xml:lang="da">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
<arr:IdentificationNumberOfAuditor contextRef="ctx59">mne33251</arr:IdentificationNumberOfAuditor>
<cmn:NameAndSurnameOfAuditor contextRef="ctx60" xml:lang="da">Allan Knudsen</cmn:NameAndSurnameOfAuditor>
<cmn:DescriptionOfAuditor contextRef="ctx60" xml:lang="da">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
<arr:IdentificationNumberOfAuditor contextRef="ctx60">mne29465</arr:IdentificationNumberOfAuditor>
<cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx60">33771231</cmn:IdentificationNumberCvrOfAuditFirm>
<cmn:NameOfAuditFirm contextRef="ctx60" xml:lang="da">PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab</cmn:NameOfAuditFirm>
</xbrli:xbrl>