Assets
| Type | Time | Amount | Unit |
|---|---|---|---|
| ifrs-full:Assets | 2020-12-31 | 27006000000 | dkk |
| ifrs-full:Assets | 2019-12-31 | 26863000000 | dkk |
Revenue
| Type | Start date | End date | Amount | Unit |
|---|---|---|---|---|
| ifrs-full:Revenue | 2020-01-01 | 2020-12-31 | 13971000000 | dkk |
| ifrs-full:Revenue | 2019-01-01 | 2019-12-31 | 16592000000 | dkk |
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<mrv:StatementOfCorporateSocialResponsibility contextRef="ctx-2" id="pp-value1" xml:lang="en">The aim of our sustainability strategy is to reduce our environmental f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ootprint and ensure that employees are saf<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e, healthy, and treated equally as we move goods and people across sea and land. The two overarching str<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ategies Environmental Footprint and Caring Employer are each supported by three amb<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>itions with metrics to measure progr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ess. The strategy is aligned with UN Sustainable Development Goals (SDGs) 3, 5, 13, 14 and 17 due to their particular relevance f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>or our business activities. These SDGs provide guidance and repr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>esent global principles for responsible conduct, to which we want to be held accountable. Sustainability anchored in strategy and operations Key themes âEnvironmental Footprintâ and âCaring Employer<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>âClimate action plan launchedEnvironmental Footprint We support ocean life, r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>elevant research, and educational initiatives. We aim to be a responsible neighbour who reduces pollution, waste, and noise in the communities in which we operate. Our climate action plan also aims to improve air quality. The plan<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>âs targets are to r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>educe relative CO² emissions 45% by 2030 and make us climate neutral by 2050. Caring Employer We strive for a work environment that is saf<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e, healthy, diverse, and inclusive, allowing people to thrive and contribute. We support our employeesâ physical and mental health and encourage them to find opportunities to give back and do good in the societies where they live and work.Governance Sustainability is integrated in our daily planning and oper-ations. Thorough proces<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ses and reporting lines are in place. We continually asses<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>s risks, analyse, and adjust actions to stay on track with our commitments. Sustainability is also embedded in investment decisions as all investments above EUR 1m must assess the envir<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>onmental impact before approval. The Executive Management T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _7"/>eam (EMT) has<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/> approved the climate action plan and monitors progr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ess on a quarterly basis.Our policies provide clear guidanceProviding maritime transport and logistics services means we are always in close contact with people. It also implies that our activities can have an impact on human rights. It is a priority for us to respect these rights through clear policies Protecting people and tradeThroughout the pandemic, DFDSâ ferry routes and road tr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ansport continued moving freight for customers and supply communi-ties with goods as truck drivers could still cross borders. Staff on ferries, in port terminals and warehouses, and driving trucks were kept safe by fr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>equent tests, work shifts/safe bubbles, focus on hygiene, face masks as well as frequent campaigns about how to stay safe. For employees in offices working from home was in periods mandatory or recommeded to create safe working environments and minise risks. designed to influence and determine major decisions, actions, and activities that fall within their scope. T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>o promote full transpar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ency, we voluntarily disclose and/or verify our environmental, social and governance data to third party systems. A critical part of our commit-ment is to engage in partnerships to develop solutions for the future. These include engagement in industry f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ora and creating industry partnerships and partnerships with innovative start<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>-ups.More information is pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ovided on the next three pages on selected topics: Bringing down emissions, diversity and inclusion as well as an overview key ESG figures.T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _7"/>aking responsibility for bringing down emissionsWe have to adopt sustainable fuels based on renewable energy to truly transform and deliver<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>. Until that is achieved, energy efficiency will be a key priority.In 2020, we finalised our climate action plan. We aim to become climate neutral by 2050 and to relatively reduce GHG emissions by close to 45% fr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>om 2008 to 2030, corresponding to a reduction of ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ound 25-35% between 2019 and 2030. 96% of CO2 emissions from ferries In the long term â by 2050 â we aim to replace fos<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>sil fuels with zero emission fuels lik<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e ammonia, hydrogen, or meth-anol. Storing<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>, handling, and use of these new fuels differs vastly from how fos<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>sil fuel works. Finding feasible alterna-tives to fossil fuels calls f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>or cross-sector collabor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ation and experiments. The commercial viability of renewable fuels is still held back by numerous uncertainties and demand depends on price differentials between black and green energy, availability, bunker infr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>astructure, and regulations. Closing the price gap between fossil and renewable fuels will be critical to driving the adoption, construction, and use of zero emission f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>erries. We openly share information about which sustainable fuels we are investigating and the estimated volumes required to fuel a busines<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>s of our size. We pursue new knowledge and partnerships to help qualify our strategic decisions on future infr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>astructure and business models for carbon neutr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>al transportation. We engage in industry fora and open innovation initiatives to discover technologies and synergies that will help drive down the cost of renewables. We prioritise contributing to regulation proces<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ses and are in close dialogue with customers to understand their expectations.2030: short term planThe short<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>-term plan for reducing emis<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>sions is based on analysis of how we operate today and areas with the greatest potential for impr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ovement. T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>o reach the 2030 targets, necessary actions have been identified such as fleet replacement and environmental upgr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ading, optimising the<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/> vesselsâ hydro-dynamic perf<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ormance to reduce friction in the water and improving decision support systems to help crews and shore-side support teams operate in a mor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e fuel<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>-efficient way, continuous improvements to energy consumption, actively engaging in developing and testing new means of propulsion and energy generation, and participating in testing low carbon fuels such as biofuels. We curr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ently run around 29 projects that aim to r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>educe CO2 emissions from our existing fleet. Combined, this will result in a r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>elative reduction in emissions of r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>oughly 45% from 2008 to 2030.The CSR Report 2020 constitutes DFDSâ reporting on social responsibility and gender distribution, cf<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>. §99a and §99b in the Danish Financial Statements Act. The full CSR Report is available from this link: <span xmlns="http://www.w3.org/1999/xhtml" class="ff2 ls4">link</span>Setting emissiontargets for our ships⢠<span xmlns="http://www.w3.org/1999/xhtml" class="_ _51"> </span><span xmlns="http://www.w3.org/1999/xhtml" class="ws0">We are fully committed to the Inter<span class="_ _11"/><span class="ls0">-</span></span>national Maritime Organisation (IMO)âs GHG (<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>greenhouse gases) strategy and use âGross T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _7"/>onnage multiplied by distance travelledâ when reporting on GHG emissions performance. ⢠<span xmlns="http://www.w3.org/1999/xhtml" class="_ _51"> </span><span xmlns="http://www.w3.org/1999/xhtml" class="wsb">Based on a 2008 baseline of 17.1 grams </span>CO² per GT<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>-mile, the 2023 target is set at 12.4 grams CO² per GT<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>-mile. <span xmlns="http://www.w3.org/1999/xhtml" class="ls0"> </span>⢠<span xmlns="http://www.w3.org/1999/xhtml" class="_ _51"> </span><span xmlns="http://www.w3.org/1999/xhtml" class="ws0">The 2030 target is set at 9.6 grams CO</span>² per GT<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>-mile. We are ther<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>efore aiming for a 45% reduction between 2008 and 2030. ⢠<span xmlns="http://www.w3.org/1999/xhtml" class="_ _51"> </span><span xmlns="http://www.w3.org/1999/xhtml" class="ws0">The development from 2008 to 2020 </span>showed a reduction of 21%. ⢠<span xmlns="http://www.w3.org/1999/xhtml" class="_ _51"> </span><span xmlns="http://www.w3.org/1999/xhtml" class="ws0">Achieving the 2030 target requires a </span>29% reduction from 2020 levels.T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>esting biofuels based on leftover nutshellsIn 2019, we invested in MASH Energy. This start<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>-up is developing a method to produce commer<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>cially viable biofuel from agricultural waste. In 2021, we aim to test MASH energyâs B11 biofuel based on agricultural waste on a passenger ferry. T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _7"/>esting can help create realistic alterna-tives and supplements to fossil fuels. Upgrading our road fleet to cut emissionsWe invest in trucks with the highest possible Eur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>o class engines to reduce exhaust emissions and ensur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e optimal safety and efficiency. 95% of our trucks are now Eur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>o 5 or 6-certified. These vehicles effectively reduce harmful gas emissions, are fuel<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>-efficient, and equipped with high-quality communication systems. Biofuel is used in almost all Swedish logistics locations. In 2021, fuel additives will be tested in a research set<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>-up to confirm fuel efficiency benefits and a lower emission per kilometre. If the test results ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e positive, it is planned to scale up the testing to a section of the fleet.Diversity and inclusionBringing together people with a variety of backgrounds and expertise can create a culture that acknowledges diff<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>erent points of view preventing decision-making based on hab<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>its and unconscious bias.We have a target of a minimum of 30% minority representation by 2023. Our perf<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ormance measurement focuses on improvements in gender diversity, as it is the only area in which we collect data. However<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>, to secure a workforce that is truly diverse, minority repr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>esentation also relates to race, ethnic backgr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ound, religion, sexual orienta-tion, age, level of education and socioeconomic status. Gender diversity in DFDSThe maritime and logistics industries are traditionally associated with male attributes and continue to be so today, particularly at sea. Both at sea and on land the share of women in our company declined this year<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>. This was due to the adaptation of the organisation to Covid<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>-19. The Passenger business unit, which employs the highest proportion of women in DFDS, was heavily impacted by furloughing and layoffs. On our ferries in general, the share of women is 15%. In management the number is 7%, above the industry average. In 2020, we signed the Charter for mor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e women in shipping, committing ourselves to focus on gender equality. An internal task force is curr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ently exploring how we can make our industry attractive to a mor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e diverse audience.As of 2020, 27% of staff on land and 29% of managers are women. This is close to the target of 30% by 2023. Achieving gender diversity remains a priority as women are still underrepresented in many ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>eas. For instance in senior management, where only 16% of employees are women. Diversity and inclusion is a top priority and an integral aspect in hiring, HR processes, and managementâs operating procedures. Senior management is heading this agenda by setting their own pledges. Local HR has a structured follow-up pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ocess in place with local managers to ensure continued awareness and r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>esults. We facilitate internal diversity community forums, sharing challenges, best practice, and good ideas. 1 <span xmlns="http://www.w3.org/1999/xhtml" class="_ _c"> </span>2019 &amp; 2020 include electricity consumption from shore power2 <span xmlns="http://www.w3.org/1999/xhtml" class="_ _f2"> </span>No data available for the missing years3 <span xmlns="http://www.w3.org/1999/xhtml" class="_ _f2"> </span>Annually 4 <span xmlns="http://www.w3.org/1999/xhtml" class="_ _c"> </span>Excluding UN Ro-Ro in 2018</mrv:StatementOfCorporateSocialResponsibility>
<mrv:CorporateGovernanceReport contextRef="ctx-2" id="pp-value252" xml:lang="en">Board of DirectorsThe Board of Directors is made up of six dir<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ectors appointed by the annual general meeting of shar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>eholders, elected for a period of one year<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>, as well as three directors appointed by employees, elected for a period of four years.Five of the six directors appointed by shar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>eholders at the most recent ordinary meeting ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e deemed independent according to the Danish recommendations on good corporate governance. T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>wo of the six appointed directors are women.The Board of Directors work in accor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>dance with the companyâs articles of association, the rules of pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ocedure of the Board of Directors as well as an established annual cycle of focus areas to ensur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e that all major governance aspects are reviewed at least once annually.The Chair of the Board of Directors undertak<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>es an annual review of the performance of the Boar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>d of Directors, most recently with third party as<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>sistance. The composition of the Board of Directors aims to ensur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e that competencies that are key to the companyâ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>s performance are r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>epresented. T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _7"/>en board meetings were held in 2020.Board committeesThe Board of Directors has established an audit committee, a nomination committee and a remuneration committee. Each committee has three members. The purposes of th<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ese committees as well as recent activities are available on <span xmlns="http://www.w3.org/1999/xhtml" class="ff2 fc2 ls0">link</span>Board evaluationAnnually, the Board of Directors conducts an evaluation of its composition considering the competencies needed to perform its tasks, and of the cooperation between the Board of Directors and the Ex<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ecutive Board. In 2020, the evaluation was facilitated by an external consulting firm by way of a written questionnaire combined with individual interviews with the Directors of the Board and the Executive Board. The evaluation included, among other things, the Board of Directorsâ gener<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>al competencies and overall effectivenes<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>s and value contribution, trans-parency and openness of inf<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ormation and discussions, cooperation with the Executive Boar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>d, the Chair<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>âs role, the work and the structure of the Board committees and a âtime-spent analysisâ of the Board meetings. All members of the Board of Directors and the Ex<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ecutive Board participated in the evaluation, resulting in a comprehensive evaluation report. The findings and conclusions were pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>esented to and discussed by the Board of Dir<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ectors in February 2021. The evaluation concluded that overall, the Board has the right composition and perform its tasks in a well aligned manner<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>. Identified key strengths include: ⢠<span xmlns="http://www.w3.org/1999/xhtml" class="_ _51"> </span><span xmlns="http://www.w3.org/1999/xhtml" class="ws0">The Board and management work together exceptionally </span>well, perceiving themselves to be one team with same overriding goals⢠<span xmlns="http://www.w3.org/1999/xhtml" class="_ _51"> </span><span xmlns="http://www.w3.org/1999/xhtml" class="ws0">The tone of voice is positive, encouraging and constructive. </span>Based on the evaluation, the Board agreed to continue its focus on the important areas of str<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ategy execution and risk monitoring. The Board is highly engaged in DFDSâ clearly laid out strategic direction and its pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ogression, and agreed to increase focus on structur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ed follow-up on KPIs link<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ed to the execution of the strategy. In r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ecognition of the increasing importance of risk management, even more focus will be applied to structured risk identification and monitoring of company risks. RemunerationThe members of the Board of Directors ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e paid according to an agreed, fixed annual f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ee together with fixed annual supplements for the Chair and the Deputy Chair<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>, the Chair of the audit committee as well as members of the audit, the remuneration and the nomination committee. Members of the Board of Directors, including members of the commit-tees, do not receive any incentive-based remuner<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ation. The fees proposed to be paid to dir<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ectors are presented f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>or approval at DFDSâ annual general meeting. For the annual general meeting in March 2021, the Boar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>d of Directors is proposing a revised r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>emuneration policy in compliance with the provisions of the Danish Companies Act and providing a remuneration r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>eport based on the said policy and presented for a guiding vote in compliance with the provisions of the Danish Companies Act.Recommendations on corporate governancePerformance in relation to corpor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ate governance is regularly assessed and a r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>eview of compliance with the Danish recommendations on corporate governance is r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>eported on annually. The report reviews the appr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>oach to all items of the recommendations. DFDS is compliant with all recommendations. Business ethicsDFDS has a Code of Conduct that sets out expectations for employee behaviour and actions. The code was updated in 2020 to make it more acces<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>sible. This was accompanied by a campaign to raise awarenes<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>s of the code across the company. In addition, a compliance line, operated by a third party, offers âwhistleblowersâ the possib<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ility to raise concerns on behaviour by name or anonymously. A total of 24 cases were reported during 2020.Rules and policiesDFDS A/S is subject to Danish law and listed on Nasdaq Copenhagen. DFDSâ corporate governance is based on Danish legislation and regulations, including the Danish Companies Act, the rules for listed companies on Nasdaq Copenhagen, the Danish recommendations for good corpor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ate governance and the companyâs articles of association, as well as other relevant rules.</mrv:CorporateGovernanceReport>
<sob:StatementByExecutiveAndSupervisoryBoards contextRef="ctx-2" id="pp-value355" xml:lang="en">The Board of Directors and the Executiv<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e Board have to-day considered and approved the Annual r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>eport of DFDS îîîîîî¡î®îî·îî»îîîîî§îî³îî§îîîî»î§î®îî´îî«î§îî»î§î®îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>î©îî¶î´îîî»î³î»îî²î»î®îîµî³îµî³îThe Annual report has been prepared in ac<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>cordance with International Financial Reporting Standards as adopted by î·îî»îîîî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>î§îî·î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>î§î·î·îî·îî¡îî§îîî®<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>î»îî»îî®î»îî»îî·î²î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>îîîî·îî»î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>îî§îîî²îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>îîîî§îî³îî§îîStatements Act.In our opinion the Consol<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>idated Financial Statements and the Parent Company Financial Statements give a true and fair view of the Group<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>âs and the Parent <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>Companyâs assets, liabil<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ities and financial position at 31 December 2020 and of the results of the Group<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>âs and the Parent Companyâ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>s op-erations and cash flows for the financial year 1 January â 31 December 2020.Further<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>, in our opinion, the Managementâs review includes a true and fair account of the development in the <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>Groupâ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>s and the Parent Companyâs oper<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ations and financial mat-ters, of the result for the year and of the Gr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>oupâs and the Parent Companyâs financial position as well as a descrip-tion of the most significant risks and elements of uncer-tainty facing the Group and the Par<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ent Company.In our opinion, the annual report with the file name DFD<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>S<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>-îµî³<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>îµ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>î³<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>î´<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>îµîî¶î´<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>î«î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>îî²î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _39"/>î«î®î»î«î§î®î»î·î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>îîî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _39"/>î§îîî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _39"/>îî§î·î»î®îî§îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>î®î»î²î«î»î³î·î²î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _39"/>îîî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _39"/>î§î³<span xmlns="http://www.w3.org/1999/xhtml" class="ff14">-</span>cordance with the ESEF Regulation.We recommend that the Annual report be adopt<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ed at the Annual General Meeting.Copenhagen, 23 February 2021</sob:StatementByExecutiveAndSupervisoryBoards>
<arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements contextRef="ctx-2" xml:lang="en">îîºîîî¢îîîî¢îîîî¢îºî®îîîîîîºîîîîîîîîîî</arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements>
<arr:OpinionOnAuditedFinancialStatements contextRef="ctx-2" id="pp-value382" xml:lang="en">We have audited the consol<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>idated financial statements and the parent company financial statements of DFDS îîîîîî¡î®î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>î·îî»î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>îîîî§îî³îî§îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>îî»î§î®î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>î´î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>î«î§îî»î§î®îîî¨î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>î¶î´î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>îî»î³î»îî²î»î®î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>îµî³îµî³îîwhich comprise income statement, statement of compre-hensive income, balance sheet, statement of changes in equity, cash flow statement and notes, including account<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>-ing policies, for the <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>Group and the Parent Company. The consolidated financial statements and the par<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ent compa-ny financial statements are prepared in ac<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>cordance with International Financial Reporting Standards as adopted by î·îî»î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>îîî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>î§îî·î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>î§î·î·îî·îî¡îî§îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>î®î»îî»îî®î»îî»îî·î²î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>î¡îîî·îî»î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>îî§îîî²îîîîîî§îî³îî§îîStatements Act. In our opinion, the consol<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>idated financial statements and the parent company financial statements give a true and fair view of the financial position of the Group and the Parent Company at 31 December 2020 and of the results of the Groupâ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>s and the Parent Companyâ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>s operations and cash flows for the financial year 1 January <span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>â 31 December 2020 in accordance with International Financial Reporting îî·î§îî·î§î®î·î²î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>î§î²î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>î§î·î¡î«î·î»î·î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>î²îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>î·îî»î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>îîî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>î§îî·î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>î§î·î·îî·îî¡îî§îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>î®î»îî»îî®î»<span xmlns="http://www.w3.org/1999/xhtml" class="ff14">-</span>ments of the Danish Financial Statements Act.Our opinion is consistent with our long-form audit r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>eport to the Audit Committee and the Board of Direct<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ors.</arr:OpinionOnAuditedFinancialStatements>
<arr:DescriptionOfQualificationsOfAuditedFinancialStatements contextRef="ctx-2" id="pp-value405" xml:lang="en">We conducted our audit in accor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>dance with International îî·î§îî·î§î®î·î²îî¡îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>îî»î·îî·îîî
î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>î¤î£îîî²îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>î§îî·î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>î§î·î·îî·îî¡îî§îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>î®î»îî»îî®î»îî»îî·î²îapplicable in Denmark. Our responsibil<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>ities under those standards and requirements ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e further described in the âAuditorâs responsibilities f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>or the audit of the consolidat<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>-ed financial statements and the parent company financial statementsâ (hereinafter collectively r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>eferred to as âthe financial statementsâ) section of our report. We bel<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ieve that the audit evidence we have obtained is sufficient and appropriate to provide a basis f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>or our opinion.We are independent of the Group in ac<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>cordance with the In-ternational Ethics Standards Board f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>or Accountantsâ Code î¡îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"/>îî·îîî³î²î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _39"/>îî¡î®î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>îî®î¡îî»î²<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>î²îî¡îî§îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"/>îî³î³î¡î»îî·î§îî·î²î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _39"/>î¤î£îîîîî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>îî¡î·î»îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"/>î§îî·îadditional requirements appl<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>icable in Denmark, and we have fulfilled our other ethical responsibil<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ities in accord<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>-ance with these rules and requirements. T<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>o the best of our knowledge, we have not provided any î«î®î¡îîî²îî·î»î·î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _39"/>îî¡îî©î§î»î·îî·î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"/>î²î»î®î
îî³î»î²î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _39"/>î§î²î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"/>î·î»î²î³î®îî²î»î·î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _39"/>îîî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>î§î®î·îî³îî»î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _39"/>î¸î¤î´î¥îî¡îîîî»î
î»îî§î·îî¡îîî¤îîî¥îîî¡îîî¸î¶îºîîµî³î´î·îîî»îîî»î®î»îîîîî·îî§îîîîî§î«î«î¡îîî·î»î·î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>î§î²îî§î»î·îî·î¡î®î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>î¡îîîîîîî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>îîîîî²î»îî¡î®î»î1995 and accordingly, we have to r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>esign as auditor of the Company at the annual general meeting in 2021 at the lat<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>-est. We have been reappoint<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ed annually by resolution of the general meeting for a total consecutive period of mor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e than 25 years up to and including the financial year 2020.</arr:DescriptionOfQualificationsOfAuditedFinancialStatements>
<arr:KeyAuditMattersAudit contextRef="ctx-2" id="pp-value430" xml:lang="en">Key audit matters are those matters that, in our prof<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>es-sional judgement, were of most significance in our audit of the financial statements for the financial year 2020. These matters were addres<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>sed during our audit of the financial statements as a whole and in forming our opinion ther<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>eon. We do not provide a separat<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e opinion on these matters. For each matter below<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>, our description of how our audit addressed the matter is pro<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>vided in that context.We have fulfilled our responsib<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ilities described in the âAuditorâs responsibilities f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>or the audit of the financial statementsâ section, including in relation to the key audit matters below<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>. Accordingly, our audit included the design and performance of procedur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>es to respond to our asses<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>s-ment of the risks of material misstatement of the financial statements. The results of our audit procedur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>es, including the procedures performed t<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>o address the matters below<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>, provide the basis for our audit opin<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ion on the financial statements.Valuatio<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>n of non-current intangible and t<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>angible assets Non-current intangible and tangible assets including in-vestments in ferries and other ships, goodwill and other non-current intangible assets amounts to a total of DKK 18,635 million at 31 December 2020. Managementâs dis-closures on the impairment testing of non-current intan-gible and tangible assets are included in note 3.1.5 to the consolidated financial statements.This area is significant to our audit due to the carrying val<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>-ue of non-current intangible and tangible assets as well as the management assessments and estimations invol<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ved in impairment testing of these.Management prepares impairment tests f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>or all significant non-current assets at year<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>-end, or more frequent if ther<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e is any indication of impairment. Impairment testing is based on the estimated recover<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>able amounts, which for invest<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>-ments in ferries and other ships is the higher of fair value less estimated costs of disposal and value in use. For other non-current intangible and tangible assets, the reco<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>vera-ble amount is estimated on basis of value in use. Value in use is calculated for the cash generating units determ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ined by Management.For details on the impairment tests performed by Manage-ment reference is made t<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>o note 3.1.5 in the consolidat<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ed financial statements. How our audit addressed the Key Audit MatterOur audit procedures in relation t<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>o valuation of non-cur-rent assets included:⢠<span xmlns="http://www.w3.org/1999/xhtml" class="_ _86"> </span> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _50"/>Examination of the value-in-use model pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>epared by Man<span xmlns="http://www.w3.org/1999/xhtml" class="ls0">-</span>agement, including consideration of the cash-generation units defined by Management and the valuation meth<span xmlns="http://www.w3.org/1999/xhtml" class="ls0">-</span>odology and challenging the reasonableness of key as<span xmlns="http://www.w3.org/1999/xhtml" class="ls0">-</span>sumptions and input data based on our knowledge of the business and industry together with available supporting evidence such as available budgets and externally ob<span xmlns="http://www.w3.org/1999/xhtml" class="ls0">-</span>servable market data related to inter<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>est rates etc.⢠<span xmlns="http://www.w3.org/1999/xhtml" class="_ _86"> </span> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _a"/>For investments in ferries and other ships testing of the component accounting and comparison of the useful life and scr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ap values used with assessments made and data provided by DFDSâ technical department and other sources as well as inquiries to DFDSâ Management and DFDSâ technical department.⢠<span xmlns="http://www.w3.org/1999/xhtml" class="_ _28c"> </span> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _28d"/>Examination of fair value less costs t<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>o sell for ferries and other ships calculated by Management, including comparison of carrying values of the ferries and other ships with available valuations prepared by ext<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ernal and independent ship valuation experts.⢠<span xmlns="http://www.w3.org/1999/xhtml" class="_ _d9"> </span> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _12"/>Examination of the adequacy of disclosures about key assumptions and sensitivity in note 3.1.5 to the consol<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>-idated financial statements.</arr:KeyAuditMattersAudit>
<arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements contextRef="ctx-2" id="pp-value498" xml:lang="en">Management is responsible for the Managementâs review<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>.Our opinion on the financial statements does not cover the Managementâs review<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>, and we do not express any f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>orm of assurance conclusion ther<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>eon.In connection with our audit of the financial statements, our responsibil<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ity is to read the Managementâs review and, in doing so, consider whether the Managementâs review is materially inconsistent with the financial statements or our knowledge obtained during the audit, or otherwise ap-pears to be materially misstated. Moreover<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>, it is our responsibility to consider whether the Managementâs review provides the information r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>equired under the Danish Financial Statements Act. Based on the work we have performed, w<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e conclude that the Managementâs review is in accordance with the finan-cial statements and has been prepared in acc<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ordance with the requirements of the Danish Financial Statements Act. We did not identify any material misstatement of the Man-agementâs review<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>. </arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements>
<arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements contextRef="ctx-2" id="pp-value517" xml:lang="en">Management is responsible for the prepar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ation of consoli-dated financial statements and parent company financial statements that give a true and fair view in accor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>dance with International Financial Reporting Standards as adopt<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>-î»î·î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>î²îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"/>î·îî»î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"/>îîî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"/>î§îî·î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _39"/>î§î·î·îî·îî¡îî§îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>î®î»îî»îî®î»îî»îî·î²î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>î¡îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>î·îî»î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"/>îî§îîî²îîFinancial Statements Act and for such internal control as Management determines is necessary to enable the pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>epa-ration of financial statements that are free <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>from material misstatement, whether due to fraud or err<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>or<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>.In preparing the financial statements, Management is re-sponsible for assessing the Gr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>oupâ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>s and the Parent Com-panyâs abil<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ity to continue as a going concern, disclosing, as applicable, matters relat<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ed to going concern and using the going concern basis of accounting in pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>eparing the fi-nancial statements unless Management either intends to liquidate the Gr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>oup or the Parent Company or to cease op-erations, or has no real<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>istic alternative but to do so.</arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements>
<arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed contextRef="ctx-2" id="pp-value535" xml:lang="en">Our objectives are to obtain r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>easonable assurance as to whether the financial statements as a whole are free from material misstatement, whether due to fraud or err<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>or<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>, and to issue an auditorâs report that includes our opinion. Rea<span xmlns="http://www.w3.org/1999/xhtml" class="ls0">-</span>sonable assurance is a high level of as<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>surance, but is not a guarantee that an audit conducted in accor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>dance with ISAs and additional requirements appl<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>icable in Denmark will always detect a material misstatement when it e<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>xists. Mis<span xmlns="http://www.w3.org/1999/xhtml" class="ls0">-</span>statements can arise from fraud or error and are c<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>onsidered material if<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>, individually or in the aggregate, they could r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ea<span xmlns="http://www.w3.org/1999/xhtml" class="ls0">-</span>sonably be expected to influence the economic decisions of users taken on the basis of the financial statements.As part of an audit conducted in accordance with ISAs and additional requirements appl<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>icable in Denmark, we exer<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>-cise professional judgement and ma<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>intain professional scepticism throughout the audit. We also:⢠<span xmlns="http://www.w3.org/1999/xhtml" class="_ _1a5"> </span> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _50"/>Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>, design and perform audit procedur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>es responsive to those risks and obtain audit evidence that is sufficient and appropriate to provide a basis f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>or our opinion. The risk of not detecting a material misstatement resulting fr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>om fraud is higher than for one resulting fr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>om error<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>, as fraud may involve collusion, f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>orgery, intentional omissions, misrepresentations or the override of internal contr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ol.⢠<span xmlns="http://www.w3.org/1999/xhtml" class="_ _86"> </span> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _12"/>Obtain an understanding of internal control relevant to the audit in order to design audit procedur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>es that are appropriate in the circumstances, but not for the pur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>-pose of expressing an opin<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ion on the effectiveness of the Groupâ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>s and the Parent Companyâ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>s internal control.⢠<span xmlns="http://www.w3.org/1999/xhtml" class="_ _5"> </span> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _222"/>Evaluat<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e the appropriateness of accounting pol<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>icies used and the reasonableness of accounting estimates and related disclosures made by Management.⢠<span xmlns="http://www.w3.org/1999/xhtml" class="_ _d9"> </span> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _12"/>Conclude on the appropriateness of Managementâs use of the going concern basis of accounting in pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>eparing the financial statements and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Groupâ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>s and the Parent Companyâ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>s ability to c<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>on-tinue as a going concern. If we conclude that a material uncertainty exists, we are r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>equired to draw attention in our auditorâs report to the related disclosures in the financial statements or<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>, if such disclosures are inade-quate, to modify our opinion. Our conclusions ar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e based on the audit evidence obtained up to the date of our î§î»î·îî·î¡î®î¶î²î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>î®î»î«î¡î®î·îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"/>î¢î¡îî»î
î»î®<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>îî»î·î»î®î»î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"/>î»î
î»îî·î²î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _39"/>î¡î®î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>î³î¡îî·îî·îî¡îî²îmay cause the Group and the Parent Company to c<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ease to continue as a going concern.⢠<span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"> </span> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _f9"/>Evaluate the overall presentation, structure and con-tents of the financial statements, including the note disclosures, and whether the financial statements rep-resent the underlying transactions and events in a man-ner that gives a true and fair view<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>.⢠<span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"> </span> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _f7"/>Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business ac<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/><span xmlns="http://www.w3.org/1999/xhtml" class="ls0">-</span>tivities within the Group to expr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ess an opinion on the con<span xmlns="http://www.w3.org/1999/xhtml" class="ls0">-</span>solidated financial statements. W<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e are responsible for the direction, supervision and performance of the group audit. We remain solely responsible f<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>or our audit opinion.We communicate with those charged with governanc<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e regarding, among other matters, the planned scope and timing of the audit and significant audit findings, includ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>-ing any significant deficiencies in internal control that we identify during our audit.We also provide those charged with governanc<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e with a statement that we have compl<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ied with relevant ethical re-quirements regarding independence, and t<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>o communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>elated safeguards.From the matters communicated with those charged with governance, we determine those matters that w<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ere of most significance in the audit of the consolidat<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ed finan-cial statements and the parent company financial state-ments of the current period and are therefor<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e the key audit matters. We describe these matters in our auditorâs report unless law or regulation precludes publ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ic disclosure about the matter or when, in extremely rar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>e 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 outwe<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>igh the public in-terest benefits of such communication.</arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed>
<arr:AuditorsReportOnXbrlTagging contextRef="ctx-2" id="pp-value617" xml:lang="en">îî²îî«î§î®î·îî¡îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>î¡î»î®îî§î»î·îî·î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>î¡îîî·îî»î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>îîîî§îî³îî§îîî²î·î§î·î»îî»îî·î²î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>î¡îîîîîîî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>îîîîwe performed procedur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>es to express an op<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>inion on wheth<span xmlns="http://www.w3.org/1999/xhtml" class="ls0">-</span>er the annual report for the financial year 1 January <span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>â 31<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/> îî»î³î»îî²î»î®î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>îµî³îµî³î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>îîî·îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>î·îî»î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _f2"> </span>îîîî»î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>îî§îî»î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>îîîîîîµî³<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>îµ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>î³<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>î´îµîî¶î´<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>îî«îis prepared, in all material respects, in compl<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>iance with î·îî»î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _f2"> </span>îî¡îîîî²î²îî¡îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>îî»îî»î
î§î·î»î·î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _f2"> </span>îî»î
î»îî§î·îî¡îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _f2"> </span>î¤îîî¥î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _f2"> </span>îµî³î´î¼îî»î´î¸î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>î¡î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>îî·îî»î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>îî»î®î¡î«î»î§îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _f2"> </span>îîîî
îî»î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>îîî»î³î·î®î¡îîî³î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _f2"> </span>îî¡î®îî§î·î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>î¤îîîîî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _f2"> </span>îî»î
î»îî§î·îî¡îîîwhich includes requirements relat<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ed to the preparation of î·îî»îî§îîî»î§îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>î®î»î«î¡î®î·î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>îîî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>îî¢îî³î®îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>î¡î®îî§î·îî§îî·î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>îîîîî®î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>î·î§î
î
îîî
îî¡îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>î·îî»<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>îConsolidated Financial Statements. Management is responsible for preparing an annual report that complies with the ESEF Regulation. This r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>esponsibility includes: îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _86"> </span>î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _12"/>îîî»îî«î®î»î«î§î®îîî
îî¡îîî·îî»îî§îîî»î§îîî®î»î«î¡î®î·îîîîîî¢îî³î®îîî¡î®îî§î·îîîî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _86"> </span>î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _12"/>îîî»î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11d"> </span>î²î»îî»î³î·îî¡îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11d"> </span>î§îî·î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11d"> </span>î§î«î«îîî³î§î·îî¡îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11d"> </span>î¡îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11d"> </span>î§î«î«î®î¡î«î®îî§î·î»î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11d"> </span>îîîîî®îtags, including extensions to the ESEF taxonomy and the anchoring thereof to elements in the taxonomy, for financial information required to be tagged using judge<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>-ment where necessary; îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _86"> </span>î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _12"/>îîî²î»î®îîî
î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>î³î¡îî²îî²î·î»îî³îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"/>î²î»î·îî»î»îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _39"/>îîîîî®î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>î·î§î
î
î»î·î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"/>î·î§î·î§î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _39"/>î§îî·îthe Consolidated Financial Statements pr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>esented in hu<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>-man readable format; and ⢠<span xmlns="http://www.w3.org/1999/xhtml" class="_ _b"> </span> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _f7"/>For such internal control as Management determines necessary to enable the prepar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ation of an annual report that is compliant with the ESEF Regulation. Our responsibil<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ity is to obtain reasonable assur<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ance on whether the annual report is prepared, in all material re<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>-spects, in compliance with the ESEF Regulation based on the evidence we have obtained, and to issue a r<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>eport that includes our opinion. The nature, timing and ext<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ent of procedures selected depend on the auditorâs judgement, including the assessment of the risks of material depar<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>-tures from the requir<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ements set out in the ESEF Regula-tion, whether due to fraud or error<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>. The procedures include: îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _86"> </span>î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _12"/>î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>î»î²î·îîî
îîîî»î·îî»î®î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>î·îî»îî§îîî»î§îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>î®î»î«î¡î®î·îîî²î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>î«î®î»î«î§î®î»î·î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>îîîîî¢îî³î®îformat; îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _86"> </span>î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _12"/>îºî²î·î§îîîîî
î<span xmlns="http://www.w3.org/1999/xhtml" class="_"> </span>î§îî<span xmlns="http://www.w3.org/1999/xhtml" class="_"> </span>î»îî·î»î®î²î·î§îî·îîî
î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _c"> </span>î¡îî<span xmlns="http://www.w3.org/1999/xhtml" class="_"> </span>î·îî»î<span xmlns="http://www.w3.org/1999/xhtml" class="_"> </span>î³î¡îî«î§îîî¶î²î<span xmlns="http://www.w3.org/1999/xhtml" class="_"> </span>îîîîî®îtagging process and of internal contr<span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>ol over the tagging process; îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _86"> </span>î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _12"/>îî
î§îî»î§î·îîî
î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _f2"> </span>î·îî»î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>î³î¡îî«îî»î·î»îî»î²î²î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>î¡îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>î·îî»î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _f2"> </span>îîîîî®î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>î·î§î
î
îîî
î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _9"> </span>î¡îîthe Consolidated Financial Statements; ⢠<span xmlns="http://www.w3.org/1999/xhtml" class="_ _86"> </span> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _50"/>Evaluating the appropriateness of the companyâs use of îîîîî®î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>î»îî»îî»îî·î²î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>î²î»îî»î³î·î»î·î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>îî®î¡îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>î·îî»î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>îîîîî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _39"/>î·î§îî¡îî¡îîî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>î§îî·îthe creation of extension elements where no suitable element in the ESEF taxonomy has been identified; ⢠<span xmlns="http://www.w3.org/1999/xhtml" class="_ _d9"> </span> <span xmlns="http://www.w3.org/1999/xhtml" class="_ _12"/>Evaluating the use of anchoring of extension elements to elements in the ESEF taxonomy; and îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _86"> </span>î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _12"/>îî»î³î¡îî³îîîîî
î<span xmlns="http://www.w3.org/1999/xhtml" class="_"> </span>î·îî»î<span xmlns="http://www.w3.org/1999/xhtml" class="_"> </span>îîîîî®î<span xmlns="http://www.w3.org/1999/xhtml" class="_"> </span>î·î§î
î
î»î·î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _f2"> </span>î·î§î·î§î<span xmlns="http://www.w3.org/1999/xhtml" class="_"> </span>îîî·îî<span xmlns="http://www.w3.org/1999/xhtml" class="_"> </span>î·îî»î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _f2"> </span>î§î»î·îî·î»î·îConsolidated Financial Statements. In our opinion, the annual report for the financial year 1 January <span xmlns="http://www.w3.org/1999/xhtml" class="_ _0"/>â 31 December 2020 with the file name DFDS-îµî³<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>îµ<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>î³<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _11"/>î´<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>îµîî¶î´<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _13"/>î«î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _220"> </span>îî²î<span xmlns="http://www.w3.org/1999/xhtml" class="_ _f2"> </span>î«î®î»î«î§î®î»î·îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _220"> </span>îîî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _f2"> </span>î§îîî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _220"> </span>îî§î·î»î®îî§îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _220"> </span>î®î»î²î«î»î³î·î²îî<span xmlns="http://www.w3.org/1999/xhtml" class="_ _220"> </span>îîîcompliance with the ESEF Regulation</arr:AuditorsReportOnXbrlTagging>
<gsd:InformationOnTypeOfSubmittedReport contextRef="ctx-2" xml:lang="en">Annual report</gsd:InformationOnTypeOfSubmittedReport>
<cmn:TypeOfAuditorAssistance contextRef="ctx-2" xml:lang="en">Auditor's report on audited financial statements</cmn:TypeOfAuditorAssistance>
<gsd:ToolForPreparingTheXBRLInstanceDocument contextRef="ctx-2" xml:lang="en">ParsePort XBRL Converter</gsd:ToolForPreparingTheXBRLInstanceDocument>
<gsd:ReportingPeriodStartDate contextRef="ctx-2" xml:lang="en">2020-01-01</gsd:ReportingPeriodStartDate>
<gsd:ReportingPeriodEndDate contextRef="ctx-2" xml:lang="en">2020-12-31</gsd:ReportingPeriodEndDate>
<gsd:PrecedingReportingPeriodStartDate contextRef="ctx-2" xml:lang="en">2019-01-01</gsd:PrecedingReportingPeriodStartDate>
<gsd:PredingReportingPeriodEndDate contextRef="ctx-2" xml:lang="en">2019-12-31</gsd:PredingReportingPeriodEndDate>
<gsd:DateOfGeneralMeeting contextRef="ctx-2" xml:lang="en">2021-03-23</gsd:DateOfGeneralMeeting>
<gsd:NameAndSurnameOfChairmanOfGeneralMeeting contextRef="ctx-2" xml:lang="en">Finn Møller</gsd:NameAndSurnameOfChairmanOfGeneralMeeting>
<gsd:LegalEntityIdentifierOfReportingEntity contextRef="ctx-2" xml:lang="en">549300JZVW1Y1UZ5UK38</gsd:LegalEntityIdentifierOfReportingEntity>
<gsd:NameOfReportingEntity contextRef="ctx-2" xml:lang="en">DFDS A/S</gsd:NameOfReportingEntity>
<fsa:ClassOfReportingEntity contextRef="ctx-2" xml:lang="en">Reporting class D</fsa:ClassOfReportingEntity>
<gsd:IdentificationNumberCvrOfReportingEntity contextRef="ctx-2" xml:lang="en">14194711</gsd:IdentificationNumberCvrOfReportingEntity>
<gsd:AddressOfReportingEntityStreetName contextRef="ctx-2" xml:lang="en">Sundkrogsgade</gsd:AddressOfReportingEntityStreetName>
<gsd:AddressOfReportingEntityStreetBuildingIdentifier contextRef="ctx-2" xml:lang="en">11</gsd:AddressOfReportingEntityStreetBuildingIdentifier>
<gsd:AddressOfReportingEntityPostCodeIdentifier contextRef="ctx-2" xml:lang="en">2100</gsd:AddressOfReportingEntityPostCodeIdentifier>
<gsd:AddressOfReportingEntityDistrictName contextRef="ctx-2" xml:lang="en">Copenhagen</gsd:AddressOfReportingEntityDistrictName>
<gsd:AddressOfReportingEntityCountry contextRef="ctx-2" xml:lang="en">Denmark</gsd:AddressOfReportingEntityCountry>
<mrv:LinkToCorporateGovernanceReport contextRef="ctx-2" xml:lang="en">https://www.dfds.com/en/about/group/responsibility</mrv:LinkToCorporateGovernanceReport>
<mrv:LinkToStatementOfCorporateSocialResponsibility contextRef="ctx-2" xml:lang="en">https://www.dfds.com/en/about/group/responsibility</mrv:LinkToStatementOfCorporateSocialResponsibility>
<mrv:LinkToStatementOfDiversityPolicies contextRef="ctx-2" xml:lang="en">https://www.dfds.com/en/about/group/responsibility</mrv:LinkToStatementOfDiversityPolicies>
<fsa:AverageNumberOfEmployees contextRef="ctx-2" decimals="0" unitRef="pure">8213</fsa:AverageNumberOfEmployees>
<fsa:AverageNumberOfEmployees contextRef="ctx-16" decimals="0" unitRef="pure">8367</fsa:AverageNumberOfEmployees>
<fsa:AverageNumberOfEmployees contextRef="ctx-1" decimals="0" unitRef="pure">2476</fsa:AverageNumberOfEmployees>
<fsa:AverageNumberOfEmployees contextRef="ctx-17" decimals="0" unitRef="pure">2666</fsa:AverageNumberOfEmployees>
<sob:PlaceOfSignatureOfStatement contextRef="ctx-2" xml:lang="en">Copenhagen</sob:PlaceOfSignatureOfStatement>
<sob:DateOfApprovalOfAnnualReport contextRef="ctx-2" xml:lang="en">2021-02-23</sob:DateOfApprovalOfAnnualReport>
<cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx-3" xml:lang="en">Torben Carlsen</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
<cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx-3" xml:lang="en">President &amp; CEO</cmn:TitleOfMemberOfExecutiveBoard>
<cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx-4" xml:lang="en">Karina Deacon</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
<cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx-4" xml:lang="en">Executive Vice President &amp; CFO</cmn:TitleOfMemberOfExecutiveBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-5" xml:lang="en">Claus V. Hemmingsen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx-5" xml:lang="en">Chair</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-6" xml:lang="en">Klaus Nyborg</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx-6" xml:lang="en">Vice Chair</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-7" xml:lang="en">Anders Götzsche</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-8" xml:lang="en">Dirk Reich</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-9" xml:lang="en">Jens Otto Knudsen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-10" xml:lang="en">Jill Lauritzen Melby</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-11" xml:lang="en">Jesper Hartvig Nielsen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-12" xml:lang="en">Lars Skjold-Hansen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-13" xml:lang="en">Marianne Dahl</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<gsd:LegalEntityIdentifierOfSubmittingEnterprise contextRef="ctx-2" xml:lang="en">549300JZVW1Y1UZ5UK38</gsd:LegalEntityIdentifierOfSubmittingEnterprise>
<gsd:IdentificationNumberCvrOfSubmittingEnterprise contextRef="ctx-2" xml:lang="en">14194711</gsd:IdentificationNumberCvrOfSubmittingEnterprise>
<gsd:NameOfSubmittingEnterprise contextRef="ctx-2" xml:lang="en">DFDS A/S</gsd:NameOfSubmittingEnterprise>
<gsd:AddressOfSubmittingEnterpriseStreetAndNumber contextRef="ctx-2" xml:lang="en">Sundkrogsgade 11</gsd:AddressOfSubmittingEnterpriseStreetAndNumber>
<gsd:AddressOfSubmittingEnterprisePostcodeAndTown contextRef="ctx-2" xml:lang="en">2100 Copenhagen</gsd:AddressOfSubmittingEnterprisePostcodeAndTown>
<arr:TypeOfModifiedOpinionOnAuditedFinancialStatements contextRef="ctx-2" xml:lang="en">Opinion</arr:TypeOfModifiedOpinionOnAuditedFinancialStatements>
<arr:TypeOfBasisForModifiedOpinionOnAuditedFinancialStatements contextRef="ctx-2" xml:lang="en">Basis for Opinion</arr:TypeOfBasisForModifiedOpinionOnAuditedFinancialStatements>
<arr:SignatureOfAuditorsPlace contextRef="ctx-2" xml:lang="en">Copenhagen</arr:SignatureOfAuditorsPlace>
<arr:SignatureOfAuditorsDate contextRef="ctx-2" xml:lang="en">2021-02-23</arr:SignatureOfAuditorsDate>
<cmn:NameAndSurnameOfAuditor contextRef="ctx-14" xml:lang="en">Torben Bender</cmn:NameAndSurnameOfAuditor>
<cmn:DescriptionOfAuditor contextRef="ctx-14" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
<cmn:IdentificationNumberOfAuditor contextRef="ctx-14" xml:lang="en">mne21332</cmn:IdentificationNumberOfAuditor>
<cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx-14" xml:lang="en">30700228</cmn:IdentificationNumberCvrOfAuditFirm>
<cmn:NameOfAuditFirm contextRef="ctx-14" xml:lang="en">EY Godkendt Revisionspartnerselskab</cmn:NameOfAuditFirm>
<gsd:AddressOfAuditorStreetName contextRef="ctx-14" xml:lang="en">Dirch Passers Allé</gsd:AddressOfAuditorStreetName>
<gsd:AddressOfAuditorStreetBuildingIdentifier contextRef="ctx-14" xml:lang="en">36</gsd:AddressOfAuditorStreetBuildingIdentifier>
<gsd:AddressOfAuditorPostCodeIdentifier contextRef="ctx-14" xml:lang="en">2000</gsd:AddressOfAuditorPostCodeIdentifier>
<gsd:AddressOfAuditorDistrictName contextRef="ctx-14" xml:lang="en">Frederiksberg</gsd:AddressOfAuditorDistrictName>
<cmn:NameAndSurnameOfAuditor contextRef="ctx-15" xml:lang="en">Morten Weinreich Larsen</cmn:NameAndSurnameOfAuditor>
<cmn:DescriptionOfAuditor contextRef="ctx-15" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
<cmn:IdentificationNumberOfAuditor contextRef="ctx-15" xml:lang="en">mne42791</cmn:IdentificationNumberOfAuditor>
<cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx-15" xml:lang="en">30700228</cmn:IdentificationNumberCvrOfAuditFirm>
<cmn:NameOfAuditFirm contextRef="ctx-15" xml:lang="en">EY Godkendt Revisionspartnerselskab</cmn:NameOfAuditFirm>
<gsd:AddressOfAuditorStreetName contextRef="ctx-15" xml:lang="en">Dirch Passers Allé</gsd:AddressOfAuditorStreetName>
<gsd:AddressOfAuditorStreetBuildingIdentifier contextRef="ctx-15" xml:lang="en">36</gsd:AddressOfAuditorStreetBuildingIdentifier>
<gsd:AddressOfAuditorPostCodeIdentifier contextRef="ctx-15" xml:lang="en">2000</gsd:AddressOfAuditorPostCodeIdentifier>
<gsd:AddressOfAuditorDistrictName contextRef="ctx-15" xml:lang="en">Frederiksberg</gsd:AddressOfAuditorDistrictName>
</xbrli:xbrl>