Assets
| Type | Time | Amount | Unit |
|---|---|---|---|
| ifrs-full:Assets | 2022-09-30 | 254170000 | vDKK |
| ifrs-full:Assets | 2021-09-30 | 245168000 | vDKK |
Revenue
| Type | Start date | End date | Amount | Unit |
|---|---|---|---|---|
| ifrs-full:Revenue | 2021-10-01 | 2022-09-30 | 338727000 | vDKK |
| ifrs-full:Revenue | 2020-10-01 | 2021-09-30 | 308466000 | vDKK |
XML
See the xml submitted here:
XML: http://regnskaber.virk.dk/81156044/amNsb3VkczovLzAzL2ViLzNkL2ExL2MwLzdjYWEtNDI2OC1iMWUxLThlNTMyMjY1ZWMzMQ.xml
Separator
The full data:
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<mrv:ManagementsReview contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Managementâs Review</td></tr></table></mrv:ManagementsReview>
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<mrv:CorporateGovernanceReport contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Shareholder Information and Corporate Governance</td></tr><tr><td colspan="1">Shareholder information</td></tr><tr><td colspan="1">Statutory Statement on Corporate Governance under section 107b</td></tr><tr><td colspan="1">of the Danish Financial Statements Act.</td></tr><tr><td colspan="1">Company Management believes that corporate governance is a key</td></tr><tr><td colspan="1">element and currently seeks to improve the Companyâs management</td></tr><tr><td colspan="1">structure. The overall framework for the Management of RIAS</td></tr><tr><td colspan="1">A/S has been planned with a view to ensuring that the Company</td></tr><tr><td colspan="1">meets its obligations towards shareholders, customers, employees,</td></tr><tr><td colspan="1">authorities and other stakeholders in the best possible way and that</td></tr><tr><td colspan="1">long-term value creation is supported.</td></tr><tr><td colspan="1">The Board of Directors of RIAS A/S currently works on ensuring</td></tr><tr><td colspan="1">that the Company complies with the policies and procedures laid</td></tr><tr><td colspan="1">down by the Committee of Corporate Governance which NASDAQ</td></tr><tr><td colspan="1">Copenhagen requires be applied. The Board of Directors discusses</td></tr><tr><td colspan="1">how the Companyâs corporate governance in practice at any time en-</td></tr><tr><td colspan="1">sures that the management of RIAS A/S meets the highest standard</td></tr><tr><td colspan="1">and that the work of the Board of Directors supports the Companyâs</td></tr><tr><td colspan="1">future business potential.</td></tr><tr><td colspan="1">Openness is a key factor.</td></tr><tr><td colspan="1">The Board of Directors has chosen to publish the Statutory Statement</td></tr><tr><td colspan="1">on Corporate Governance under section 107b of the Danish Financial</td></tr><tr><td colspan="1">Statements Act on the Companyâs website.</td></tr><tr><td colspan="1">Links to the account on good corporate governance: Applicable ac-</td></tr><tr><td colspan="1">count (2022): riasnordic.com/cg/2022/</td></tr><tr><td colspan="1">The Committee for Good Corporate Governance</td></tr><tr><td colspan="1">Link to recommendations</td></tr><tr><td colspan="1">https: // corporategovernance. dk /sites/default/files/media/anbe-</td></tr><tr><td colspan="1">falinger_for_god_selskabsledelse_engelsk.pdf</td></tr><tr><td colspan="1">The Board of Directors overall approach towards NASDAQ Copenha-</td></tr><tr><td colspan="1">genâs recommendations for good corporate governance are found on</td></tr><tr><td colspan="1">RIAS A/Sâ website. This statutory account of corporate governance</td></tr><tr><td colspan="1">covers the accounting period from 1 October 2021 to 30 September</td></tr><tr><td colspan="1">2022 and is part of the managementâs report. The statutory account</td></tr><tr><td colspan="1">is not covered by the declaration from the independent auditor.</td></tr><tr><td colspan="1">RIAS A/S has in this connection chosen to compare the companyâs</td></tr><tr><td colspan="1">account of good corporate governance with the Committeeâs re-</td></tr><tr><td colspan="1">commendations of December 2020. This creates the best possible</td></tr><tr><td colspan="1">overview of which recommendations RIAS A/S has chosen to follow</td></tr><tr><td colspan="1">completely and which recommendations the company has chosen</td></tr><tr><td colspan="1">not to pursue or which are still being worked on. For a more detailed</td></tr><tr><td colspan="1">account: riasnordic . com / cg / 2021/</td></tr><tr><td colspan="1">Tasks and responsibilities of the Board of Directors</td></tr><tr><td colspan="1">The work done by the Board of Directors is specified in the rules of</td></tr><tr><td colspan="1">procedure which are evaluated at least once per year. RIAS A/S com-</td></tr><tr><td colspan="1">plies with the recommendation regarding members and the rules of</td></tr><tr><td colspan="1">procedure being adjusted to the companyâs needs. The Board of Di-</td></tr><tr><td colspan="1">rectors meets four times per year or more as needed. This process</td></tr><tr><td colspan="1">ensures that the management can react quickly and effectively to</td></tr><tr><td colspan="1">external conditions. Six meetings were held in the 2021/22 financial</td></tr><tr><td colspan="1">year, including the companyâs ordinary annual general meeting in</td></tr><tr><td colspan="1">January 2022 and an extraordinary general meeting in March 2022.</td></tr><tr><td colspan="1">Composition of the Board of Directors</td></tr><tr><td colspan="1">The Board of Directors consists of six members, of which two are</td></tr><tr><td colspan="1">elected by the companyâs employees. The board members elected</td></tr><tr><td colspan="1">by the annual general meeting are elected for a one-year term at a time.</td></tr><tr><td colspan="1">The Board of Directors has evaluated the personal capacity of each</td></tr><tr><td colspan="1">individual board member and finds that they are managing their</td></tr><tr><td colspan="1">tasks in the board of RIAS A/S in a sound manner - regardless, none</td></tr><tr><td colspan="1">of the board members elected by the annual general meeting are in-</td></tr><tr><td colspan="1">dependent as defined in the recommendations, as the board mem-</td></tr><tr><td colspan="1">bers are elected based on the companyâs ownership structure.</td></tr><tr><td colspan="1">Executive Board</td></tr><tr><td colspan="1">The Executive Board is appointed by the Board of Directors, which</td></tr><tr><td colspan="1">specifies the Executive Boardâs terms of employment. The Executive</td></tr><tr><td colspan="1">Board is responsible for the day-to-day operations of RIAS A/S, inclu-</td></tr><tr><td colspan="1">ding RIAS A/Sâ activity-related and operational development, its re-</td></tr><tr><td colspan="1">sults and its internal affairs. The Board of Directorsâ delegation of</td></tr><tr><td colspan="1">responsibility to the Executive Board is specified in the company's</td></tr><tr><td colspan="1">rules of procedure and the Danish Companies Act. RIAS A/Sâ Execu-</td></tr><tr><td colspan="1">tive Board consists of one person.</td></tr><tr><td colspan="1">Remuneration for the Board of Directors and Executive Board</td></tr><tr><td colspan="1">The Board of Directors has adopted a very simple remuneration policy</td></tr><tr><td colspan="1">for both the Board of Directors and the Executive Board. The remu-</td></tr><tr><td colspan="1">neration policy for the Board of Directors does not contain any incen-</td></tr><tr><td colspan="1">tive-based remuneration or other variable components.</td></tr><tr><td colspan="1">The Board of Directors for RIAS A/S is not covered by any bonus or</td></tr><tr><td colspan="1">option schemes. The total annual remuneration for the Board of Di-</td></tr><tr><td colspan="1">rectors is approved by the annual general meeting in connection with</td></tr><tr><td colspan="1">the approval of the annual report.</td></tr><tr><td colspan="1">In 2021/22, the remuneration for the Executive Board consisted of a</td></tr><tr><td colspan="1">base salary plus usual fringe benefits such as a car and phone plus</td></tr><tr><td colspan="1">an annual bonus, and this is described in the remuneration report.</td></tr><tr><td colspan="1">The Executive Boardâs terms of employment, including remuneration</td></tr><tr><td colspan="1">and terms for dismissal/resignation are assessed as being in accord-</td></tr><tr><td colspan="1">ance with normal practices for positions of this nature.</td></tr><tr><td colspan="1">Link to remuneration policy and remuneration report</td></tr><tr><td colspan="1">Audit committee</td></tr><tr><td colspan="1">The Board of Directors of RIAS A/S also serve as the audit committee.</td></tr><tr><td colspan="1">The audit committeeâs overall objective is to minimise the risk of signi-</td></tr><tr><td colspan="1">ficant errors in the financial reporting - both internally and externally.</td></tr><tr><td colspan="1">In practice, this takes place by analysing the internal control environ-</td></tr><tr><td colspan="1">ment, financial reporting, accountancy, the applied accounting prac-</td></tr><tr><td colspan="1">tices and the submission of interim and annual reports in general.</td></tr><tr><td colspan="1">The audit committee focuses on a continuing development of the</td></tr><tr><td colspan="1">control environment and a continual assessment of the business</td></tr><tr><td colspan="1">processes and financial and accounting-related matters that have a</td></tr><tr><td colspan="1">significant impact on the accounting information.</td></tr><tr><td colspan="1">The external auditor can also be summoned to the audit committeeâs</td></tr><tr><td colspan="1">meetings. Four meetings were held in 2021/22 and the external au-</td></tr><tr><td colspan="1">ditor participated in one without the presence of the management.</td></tr></table></mrv:CorporateGovernanceReport>
<mrv:StatementOfCorporateSocialResponsibility contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">ESG for 2021/22</td></tr><tr><td colspan="1">Besides informing our stakeholders of our ESG work, this report also</td></tr><tr><td colspan="1">serves as our statutory CSR report pursuant to Sections 99(a) and</td></tr><tr><td colspan="1">99(b) in the Danish Financial Statements Act.</td></tr><tr><td colspan="1">At RIAS, we have always strived to act responsibly and to create value</td></tr><tr><td colspan="1">in a decent and credible manner. It is deeply embedded in our DNA</td></tr><tr><td colspan="1">and it has been a fundamental factor in the companyâs development</td></tr><tr><td colspan="1">- also long before governance, the UNâs Sustainable Development</td></tr><tr><td colspan="1">Goals and the climate debate were put near the top of the agenda.</td></tr><tr><td colspan="1">See âMissionâ page 11.</td></tr><tr><td colspan="1">Over the last many years, we have continually worked towards reducing</td></tr><tr><td colspan="1">our energy consumption, we have improved employee working condi-</td></tr><tr><td colspan="1">tions and we have had a good and responsible management culture.</td></tr><tr><td colspan="1">Shared responsibility and initiatives in, among other things, climate</td></tr><tr><td colspan="1">and environmental impacts, employee conditions and governance</td></tr><tr><td colspan="1">issues are continuing at full capacity, and this is an important part</td></tr><tr><td colspan="1">of the everyday lives of our managers and employees who are all</td></tr><tr><td colspan="1">assuming a great deal of responsibility.</td></tr><tr><td colspan="1">At RIAS, we make a commitment to behaving decently and credibly.</td></tr><tr><td colspan="1">We believe that results are made through people who responsibly</td></tr><tr><td colspan="1">contribute to ensuring our common future, and we have always pri-</td></tr><tr><td colspan="1">oritised doing things the right way.</td></tr><tr><td colspan="1">At RIAS, we believe that a companyâs activities have a critical impact</td></tr><tr><td colspan="1">on the development of a sustainable society. We aim to proactively</td></tr><tr><td colspan="1">improve the environmental, social and governance conditions, par-</td></tr><tr><td colspan="1">ticularly in the areas that are naturally associated with our business.</td></tr><tr><td colspan="1">Our values, together with the UNâs Global Compact principles, form</td></tr><tr><td colspan="1">the basis for our approach to ESG and is a testimony to the fact that</td></tr><tr><td colspan="1">ESG has always been an integral part of RIAS for the purpose of cre-</td></tr><tr><td colspan="1">ating real value for society as a whole via the companyâs ESG work.</td></tr><tr><td colspan="1">ESG strategy in accordance with the UNâs Sustainable Development</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="5">Goals (SDGs)</td></tr><tr><td colspan="5">The UNâs SDGs reflect a desire to create a better world. The 17 SDGs</td></tr><tr><td colspan="5">are the cornerstone of the UNâs âAgenda 2030â and specify the direc-</td></tr><tr><td colspan="5">tion of the work.</td></tr><tr><td colspan="5">RIAS has a particular focus on the SDGs that are most relevant to</td></tr><tr><td colspan="5">our stakeholders and our business, as this is where we believe we</td></tr><tr><td colspan="5">can make the biggest difference. In order to meet the risks of this</td></tr><tr><td colspan="5">increased focus and the possibilities associated with sustainability,</td></tr><tr><td colspan="5">we have decided to launch sustainability targets that create a close</td></tr><tr><td colspan="5">connection between our company and the SDGs.</td></tr><tr><td colspan="5">RIAS has a particular focus on SDG 7, 12, 13 and 16.</td></tr><tr><td colspan="5">We have specified measurable and ambitious targets for SDG 7 con-</td></tr><tr><td colspan="5">cerning renewable energy and SDG 12 concerning consumption and</td></tr><tr><td colspan="5">production. These are described in the section about the environment</td></tr><tr><td colspan="5">and climate below.</td></tr><tr><td colspan="5">Risks</td></tr><tr><td colspan="5">Below is an overview of the most important risks and actions</td></tr><tr><td colspan="5">for each of the UNâs Global Compact principles and the speci-</td></tr><tr><td colspan="5">fied policy areas.</td></tr><tr><td colspan="5">Human rights</td></tr><tr><td>-</td><td>Risk: The company mainly relies on suppliers from within</td></tr><tr><td /><td>Europe, and the risk of failure to comply with human rights and</td></tr><tr><td /><td>labour rights is minimal.</td></tr><tr><td>-</td><td>Action</td></tr><tr><td>-</td><td>All suppliers are asked to fill out a Supplier Code of Conduct that</td></tr><tr><td /><td>emphasises human rights and labour rights. Only the suppliers who</td></tr><tr><td /><td>fulfil the requirements of this code of conduct are used.</td></tr><tr><td colspan="5">Labour</td></tr><tr><td>-</td><td>Risk: Our employeesâ safety is a risk factor since we have ware-</td></tr><tr><td /><td>houses and production facilities.</td></tr><tr><td>-</td><td>Action: The management is continually focused on safety and we</td></tr><tr><td /><td>are working to improve this further via education and training.</td></tr><tr><td colspan="5">Environment and climate</td></tr><tr><td>-</td><td>Risk: Our own processing and purchasing of raw materials</td></tr><tr><td /><td>from suppliers involves a risk of negative environmental impacts.</td></tr><tr><td>-</td><td>Action: We are systematically working on reducing our environ-</td></tr><tr><td /><td>mental impact from our warehouses and processing activities</td></tr><tr><td /><td>and we encourage our suppliers to do the same. We have intro-</td></tr><tr><td /><td>duced an ambitious target being climate neutral by 2030</td></tr><tr><td /><td>and we are continually investing in initiatives to meet this target.</td></tr><tr><td colspan="5">Anti-corruption work</td></tr><tr><td>-</td><td>Risk: Legal violations relating to corruption can result in major</td></tr><tr><td /><td>financial losses and a poor reputation.</td></tr><tr><td>-</td><td>Action: Targeted training in business ethics and anti-corruption</td></tr><tr><td /><td>work for selected high-risk areas such as the sales team. Contin-</td></tr><tr><td /><td>uous monitoring of changes to legislation concerning anti-cor-</td></tr><tr><td /><td>ruption work and the implementation of applicable rules.</td></tr><tr><td /><td>Updating the Code of Conduct, also for suppliers. Available</td></tr><tr><td /><td>whistleblower hotline. Online training in anti-trust and compli-</td></tr><tr><td /><td>ance for all employees.</td></tr><tr><td colspan="5">Environment and climate</td></tr><tr><td colspan="5">Protecting the environment is important to RIAS, and we make every</td></tr><tr><td colspan="5">effort to minimise negative environmental impacts and address cli-</td></tr><tr><td colspan="5">mate change.</td></tr><tr><td colspan="5">The company has a limited environmental impact which mainly con-</td></tr><tr><td colspan="5">sists of the waste from products and transportation and driving in</td></tr><tr><td colspan="5">company cars and electricity consumption for the companyâs pro-</td></tr><tr><td colspan="5">cessing work, offices and warehouses.</td></tr><tr><td colspan="5">The company is working in a targeted manner to reduce its environ-</td></tr><tr><td colspan="5">mental impact from PVC waste, and here the company has a partner-</td></tr><tr><td colspan="5">ship with the organisation Wuppi which collects and disposes PVC in</td></tr><tr><td colspan="5">a sustainable fashion.</td></tr><tr><td colspan="5">During 2021/22 RIAS introduced Green Concept which is an offer to</td></tr><tr><td colspan="5">customers who are not able to send their plastic scrap to recycling.</td></tr><tr><td colspan="5">RIAS collect the scrap and makes sure that it gets recycled. Since the</td></tr><tr><td colspan="5">introduction in April 2022 and until end September 2022 9 tons of</td></tr><tr><td colspan="5">scrap has been collected and delivered to recycling. This scrap would</td></tr><tr><td colspan="5">otherwise have been considered to be waste.</td></tr><tr><td colspan="5">RIAS makes every effort to make environmental considerations an</td></tr><tr><td colspan="5">integral part of our activities. Our work with reducing climate emis-</td></tr><tr><td colspan="5">sions is focused on, but not limited to, energy, heating, behaviour</td></tr><tr><td colspan="5">and transport. The work with reducing our environmental impact is</td></tr><tr><td colspan="5">focused on, but not limited to, responsible purchasing, responsible</td></tr><tr><td colspan="5">packaging and waste management.</td></tr><tr><td colspan="5">Our goal is to reduce the negative climate and environmental conse-</td></tr><tr><td colspan="5">quences of our activities, and we expect the same from our suppliers.</td></tr><tr><td colspan="5">We are convinced that effective and systematic environmental initi-</td></tr><tr><td colspan="5">atives create both environmental benefits and value for our stake-</td></tr><tr><td colspan="5">holders.</td></tr><tr><td colspan="5">Target</td></tr><tr><td colspan="5">RIAS is working towards being carbon neutral in 2030.</td></tr><tr><td colspan="5">RIAS A/S is continually monitoring energy consumption levels and</td></tr><tr><td colspan="5">waste figures for the entire company in a database called WeSustain,</td></tr><tr><td colspan="5">and here the development is compared to previous years.</td></tr><tr><td colspan="5">Results achieved</td></tr><tr><td colspan="5">Based on input from WeSustain concerning the companyâs consump-</td></tr><tr><td colspan="5">tion in areas such as electricity, fuel and water, it is possible to cal-</td></tr><tr><td colspan="5">culate a carbon footprint that can be used to assess where new ini-</td></tr><tr><td colspan="5">tiatives are needed to support the companyâs target of being carbon</td></tr><tr><td colspan="5">neutral in 2030.</td></tr><tr><td colspan="5">The company is continuously working on reducing its energy con-</td></tr><tr><td colspan="5">sumption in its warehouses, production facilities and administration</td></tr><tr><td colspan="5">with the support from energy consultants who gives advice on the</td></tr><tr><td colspan="5">newest technology and where it makes sense to reduce our energy</td></tr><tr><td colspan="5">consumption with the biggest impact.</td></tr><tr><td colspan="5">By tracking our energy consumption and the CO2 output we are able</td></tr><tr><td colspan="5">to work more efficient towards our goal in 2030.</td></tr><tr><td colspan="5">RIAS has the following energy consumption split by source. The emis-</td></tr><tr><td colspan="5">sions are calculated on the basis of energy consumption and CO2</td></tr><tr><td colspan="5">emissions are calculated using the GHG Protocol methodology.</td></tr><tr><td>Tonnage CO2</td><td>CO2 emissions by source</td></tr><tr><td /><td>2021/22</td><td>2020/21</td><td>2019/20</td><td>2018/19</td></tr><tr><td>Electrical power</td><td>74</td><td>173</td><td>157</td><td>138</td></tr><tr><td /><td>19%</td><td>32%</td><td>27%</td><td>26%</td></tr><tr><td>Natural gas</td><td>57</td><td>51</td><td>54</td><td>54</td></tr><tr><td /><td>15%</td><td>9%</td><td>9%</td><td>10%</td></tr><tr><td>Diesel</td><td>144</td><td>118</td><td>121</td><td>136</td></tr><tr><td /><td>37%</td><td>21%</td><td>21%</td><td>25%</td></tr><tr><td>District heat</td><td>111</td><td>207</td><td>256</td><td>210</td></tr><tr><td /><td>29%</td><td>38%</td><td>44%</td><td>39%</td></tr><tr><td>Total</td><td>386</td><td>549</td><td>588</td><td>538</td></tr><tr><td colspan="5">Electricity consumption</td></tr><tr><td colspan="5">The company uses a large part of its electricity consumption in its</td></tr><tr><td colspan="5">warehouses and processing work; During the last year we have been</td></tr><tr><td colspan="5">able to reduce our use of electricy and therefore also the emission of</td></tr><tr><td colspan="5">CO2 from this source.</td></tr><tr><td colspan="5">The effect is mainly coming from our solar panel where we from Janu-</td></tr><tr><td colspan="5">ary 2022 until September 2022 have been able to produce 143.415</td></tr><tr><td colspan="5">Kwh. This production amounts to 19% of our usage of electricity.</td></tr><tr><td colspan="5">In order to bring the CO2 emission from the use of electricity further</td></tr><tr><td colspan="5">down additionally investments are expected in solar panels on our</td></tr><tr><td colspan="5">site in Roskilde and Assentoft as well. Both installations are expected</td></tr><tr><td colspan="5">to be carried out beginning 2023 so the full effect during the spring</td></tr><tr><td colspan="5">and summer of 2023 should be achieved. This is expected to increase</td></tr><tr><td colspan="5">our production of electricity to approx. 50% of our usage.</td></tr><tr><td colspan="5">Investments in automation of the usage of electricity in processing</td></tr><tr><td colspan="5">department has also been done which will replace manual judgement</td></tr><tr><td colspan="5">of how much energy should be used for our pumps in the department.</td></tr><tr><td colspan="5">This is estimated to reduce our usage of electricity by 20t Kwh pr year</td></tr><tr><td colspan="5">equal to 3% reduction.</td></tr><tr><td colspan="5">Internal and external lightning has been changed to LED and a high</td></tr><tr><td colspan="5">awareness of the use of electricy among our colleagues have also</td></tr><tr><td colspan="5">contributed to a reduction in the use of electricity and will continue to</td></tr><tr><td colspan="5">be a topic for the future.</td></tr><tr><td colspan="5">The company still expects to invest in new machinery in the future</td></tr><tr><td colspan="5">and energy usage will therefore be a big part of the choice of brand</td></tr><tr><td colspan="5">and which machine that should be invested in.</td></tr><tr><td colspan="5">Additional charging stations have recently been installed at the</td></tr><tr><td colspan="5">Roskilde site to allow for the optimal use of electric vehicles. The com-</td></tr><tr><td colspan="5">pany now has 4 parking lots where electrical cars can be recharged.</td></tr><tr><td colspan="5">9% of RIASâ leased fleet is either electric or hybrid, and we are care-</td></tr><tr><td colspan="5">fully monitoring the market for electric and hybrid vehicles to select</td></tr><tr><td colspan="5">the right environmentally friendly solution once the leased vehicles</td></tr><tr><td colspan="5">will be converted to âgreenâ cars.</td></tr><tr><td colspan="5">It is expected that in the future RIAS will have a greater proportion of</td></tr><tr><td colspan="5">its cars being electric as the technology will gradually make it possi-</td></tr><tr><td colspan="5">ble for our salespeople who drive many kilometres to use these cars.</td></tr><tr><td colspan="5">Leased cars for employee use are approved based on CO2 emissions</td></tr><tr><td colspan="5">- highemission vehicles are therefore not selected.</td></tr><tr><td colspan="5">In order to improve our future tracking and documenting electricity</td></tr><tr><td colspan="5">usage in RIAS the company will install devices on each machine and</td></tr><tr><td colspan="5">other assets that use electricity in order to track the usage when run-</td></tr><tr><td colspan="5">ning or in standby mode so any unnatural usage can be discovered</td></tr><tr><td colspan="5">and stopped before having any waste of energy.</td></tr><tr><td colspan="5">Heating usage</td></tr><tr><td colspan="5">RIAS uses natural gas to heat the building in Assentoft and district</td></tr><tr><td colspan="5">heating for the buildings in Roskilde, and the company has mainly</td></tr><tr><td colspan="5">worked on reducing consumption on the Roskilde site.</td></tr><tr><td colspan="5">The main effect of isolation and replacement of new windows during</td></tr><tr><td colspan="5">the last years has been seen on the usage of district heat in Roskilde.</td></tr><tr><td colspan="5">Investments during 2020/21 in Genvex systems that recover process</td></tr><tr><td colspan="5">heat, has also contributed to the reduction of usage of district heating.</td></tr><tr><td colspan="5">The reduction is from 807 MWh in 2020/21 to 653 MWh in 2021/22</td></tr><tr><td colspan="5">which also contributes to a lower emission from this area.</td></tr><tr><td colspan="5">Our supplier of district heating is also working on making their produc-</td></tr><tr><td colspan="5">tion more âgreenâ and will therefore also have an indirect effect on our</td></tr><tr><td colspan="5">CO2 emission from this source in the future. The usage of natural gas</td></tr><tr><td colspan="5">in Assentoft is at a stable level and still has an emission above 50</td></tr><tr><td colspan="5">tons CO2 The company has during the last quarter of 2021/22 worked</td></tr><tr><td colspan="5">with an external consultant in order to make a transition from natural</td></tr><tr><td colspan="5">gas to heating pumps. The company expect to make the change in</td></tr><tr><td colspan="5">January 2023 and this will reduce the main part of CO2 emission from</td></tr><tr><td colspan="5">natural gas in the financial year 2022/23.</td></tr><tr><td colspan="5">The exchange from gas to heating pumps in Assentoft will decrease</td></tr><tr><td colspan="5">the usage of gas but of course increase the electricity and the compa-</td></tr><tr><td colspan="5">ny therefore seeks to compensate this by investing in solar panels on</td></tr><tr><td colspan="5">this site that can produce electricity for these heating pumps.</td></tr><tr><td colspan="5">Waste</td></tr><tr><td colspan="5">The company generates waste as part of its processing of plastics,</td></tr><tr><td colspan="5">but it is a very limited amount. RIAS is working in a targeted manner</td></tr><tr><td colspan="5">to reduce the environmental impact of PVC waste, and the company</td></tr><tr><td colspan="5">has a partnership with the organisation Wuppi, which collects and dis-</td></tr><tr><td colspan="5">poses of hard PVC waste in a sustainable fashion.</td></tr><tr><td colspan="5">During the 2021/22 189 tons of plastic waste was collected and send</td></tr><tr><td colspan="5">to recycling.</td></tr><tr><td colspan="5">During 2021/22 RIAS introduced Green Concept which is an offer to</td></tr><tr><td colspan="5">customers who are not able to send their plastic scrap to recycling.</td></tr><tr><td colspan="5">RIAS collect the scrap and makes sure that it gets recycled. Since the</td></tr><tr><td colspan="5">introduction in April 2022 and until end September 2022 9 tons of</td></tr><tr><td colspan="5">scrap has been collected and delivered to recycling. This scrap would</td></tr><tr><td colspan="5">otherwise have been considered to be waste.</td></tr><tr><td colspan="5">RIAS is continually working on finding new sustainable solutions for</td></tr><tr><td colspan="5">our products. One example of this is the PLEXIGLAS®proTerra, which</td></tr><tr><td colspan="5">is a plate that consists of 90% regenerated material without compro-</td></tr><tr><td colspan="5">mising on quality or properties.</td></tr><tr><td colspan="5">Another example is driving plates made from ocean plastic waste.</td></tr><tr><td colspan="5">The plate is made from 98% ocean plastic waste from old fishing nets,</td></tr><tr><td colspan="5">trawls and ropes and the last 2% are colouring agents.</td></tr><tr><td colspan="5">By using ocean plastic waste, one saves 1,650 kg of CO2 every time</td></tr><tr><td colspan="5">one uses 1,000 kg of ocean plastic waste.</td></tr><tr><td colspan="5">RIAS A/S aims to conduct its operations in a responsible manner and</td></tr><tr><td colspan="5">is continually working on creating coherence between the companyâs</td></tr><tr><td colspan="5">strategy and responsibility to the society that the company operates</td></tr><tr><td colspan="5">in. For RIAS A/S, social responsibility work is a continual process</td></tr><tr><td colspan="5">and in 2022/23 the company continues to work on structuring the</td></tr><tr><td colspan="5">required internal processes.</td></tr><tr><td colspan="5">Based on a criticality assessment, the company is working with areas</td></tr><tr><td colspan="5">such as employees, the environment, supplier conditions and anticor-</td></tr><tr><td colspan="5">ruption. The overall policy is described below in addition to how the</td></tr><tr><td colspan="5">policy works in practice and, where relevant, what has been achieved.</td></tr><tr><td colspan="5">Social factors</td></tr><tr><td colspan="5">Ensuring good social conditions for employees is important to the</td></tr><tr><td colspan="5">company, and RIAS offers all of its employees good working condi-</td></tr><tr><td colspan="5">tions in accordance with applicable legislation and good practices.</td></tr><tr><td colspan="5">There are monthly follow-ups on sick leave in order to improve</td></tr><tr><td colspan="5">well-being, and in general, the company is continually working on en-</td></tr><tr><td colspan="5">suring the best possible working environment. The total absences for</td></tr><tr><td colspan="5">the 2021/22 financial year have increased compared to 2020/21 and</td></tr><tr><td colspan="5">are at 3,1% compared to 1.9% last year.</td></tr><tr><td colspan="5">Workplace safety is important to the company, and there is continual</td></tr><tr><td colspan="5">investment in initiatives that improve safety at warehouses and pro-</td></tr><tr><td colspan="5">duction facilities.</td></tr><tr><td colspan="5">Investments have been made in equipping trucks with blue lights both</td></tr><tr><td colspan="5">front and rear so that employees can see when a truck is headed their</td></tr><tr><td colspan="5">way.</td></tr><tr><td colspan="5">Investments have also been made in safety nets behind pallet racks</td></tr><tr><td colspan="5">so that materials cannot cause injury to an employee if they fall off</td></tr><tr><td colspan="5">behind a rack while being stocked.</td></tr><tr><td colspan="5">There have been no workplace accidents in the 2021/22 financial year.</td></tr><tr><td colspan="5">The company will continue to work on safety issues via daily morning</td></tr><tr><td colspan="5">meetings at warehouses and production facilities in order to ensure</td></tr><tr><td colspan="5">that the number of workplace accidents remains at zero. In the com-</td></tr><tr><td colspan="5">ing period, the company is expecting to complete an employee satis-</td></tr><tr><td colspan="5">faction survey to ensure that the social conditions remain good via the</td></tr><tr><td colspan="5">use of employee dialogues.</td></tr><tr><td colspan="5">Inclusion is also important to the company, and it employs those in</td></tr><tr><td colspan="5">vocational training programmes and offers flexible working schemes</td></tr><tr><td colspan="5">(flexjob) to employees with a limited work capacity.</td></tr><tr><td colspan="5">In addition, there are schemes for seniors offered to employees who</td></tr><tr><td colspan="5">are close to retirement.</td></tr><tr><td colspan="5">RIAS also assumes responsibility by training young people in various</td></tr><tr><td colspan="5">job roles, and currently the company has four trainees hired in ware-</td></tr><tr><td colspan="5">houses and in purchasing functions.</td></tr><tr><td colspan="5">RIAS has during the financial year implemented a maternity leave for</td></tr><tr><td colspan="5">men that is equal to the one applying for women and by doing that</td></tr><tr><td colspan="5">exceeding the legal requirements. This has the effect that men and</td></tr><tr><td colspan="5">women are having the same opportunity in this matter.</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">Suppliers and human rights</td></tr><tr><td colspan="1">The company typically enters into long-term supplier relationships,</td></tr><tr><td colspan="1">and the suppliers are mainly located in Europe. An overall assess-</td></tr><tr><td colspan="1">ment of the suppliers also includes - besides financial and qualityre-</td></tr><tr><td colspan="1">lated assessments - an assessment of whether the supplier demon-</td></tr><tr><td colspan="1">strates social responsibility, including not using child labour, etc.</td></tr><tr><td colspan="1">All new suppliers are asked to fill out a Supplier Code of Conduct which,</td></tr><tr><td colspan="1">among other things, has questions related to human rights. In the fi-</td></tr><tr><td colspan="1">nancial year only suppliers fulfilling the requirements of the Supplier</td></tr><tr><td colspan="1">Code of Conduct have been used.</td></tr><tr><td colspan="1">RIAS A/S has received an updated Supplier Declaration at the end of</td></tr><tr><td colspan="1">the financial year and will therefore from now on use this one for new</td></tr><tr><td colspan="1">suppliers, while also getting this updated version signed by the cur-</td></tr><tr><td colspan="1">rent suppliers.</td></tr><tr><td colspan="1">Anti-corruption</td></tr><tr><td colspan="1">As a company, RIAS wants to ensure that we carry out our activities</td></tr><tr><td colspan="1">in an honest manner without the involvement of corruption or bribery</td></tr><tr><td colspan="1">to gain unfair advantages. It is important that all of RIASâ activities are</td></tr><tr><td colspan="1">characterised by integrity.</td></tr><tr><td colspan="1">Bribery and corruption harm the societies in which they take place</td></tr><tr><td colspan="1">and prevent economic growth and development.</td></tr><tr><td colspan="1">It is RIASâ policy to comply with all applicable laws on fighting corrup-</td></tr><tr><td colspan="1">tion and to correctly list all transactions in RIASâ financial statements</td></tr><tr><td colspan="1">and reports.</td></tr><tr><td colspan="1">The company has zero tolerance for bribery and corruption made by</td></tr><tr><td colspan="1">employees or others acting on our behalf.</td></tr><tr><td colspan="1">To support the policy on fighting bribery, all new employees must</td></tr><tr><td colspan="1">complete online courses in anti-trust and anti-corruption issues with-</td></tr><tr><td colspan="1">in three months of starting in their jobs and updated courses are con-</td></tr><tr><td colspan="1">tinuously held for employees in RIAS A/S.</td></tr><tr><td colspan="1">In the 2021/22 financial year, compliance e-learning courses in anti-</td></tr><tr><td colspan="1">corruption work have been held for all employees and 100% of em-</td></tr><tr><td colspan="1">ployees completed the course.</td></tr><tr><td colspan="1">Compliance is also an item on the agenda at board meetings, and</td></tr><tr><td colspan="1">here the Board of Directors has also been informed of the e-learning</td></tr><tr><td colspan="1">courses that have been completed.</td></tr><tr><td colspan="1">The management group also discusses compliance issues and this is</td></tr><tr><td colspan="1">a permanent part of the agenda.</td></tr><tr><td colspan="1">The company also has a whistleblower hotline where employees can</td></tr><tr><td colspan="1">notify neutral third parties at a law firm about violations or suspected</td></tr><tr><td colspan="1">violations of the law, including corruption or cartel formation.</td></tr><tr><td colspan="1">There have been no whistleblower reports submitted in 2021/22. Nor</td></tr><tr><td colspan="1">has management been made aware of corruption issues by other</td></tr><tr><td colspan="1">channels, and the Board of Directors has also been notified of this.</td></tr><tr><td colspan="1">In the 2022/23 financial year, all new employees will be asked to com-</td></tr><tr><td colspan="1">plete e-learning courses on compliance, and for current employees,</td></tr><tr><td colspan="1">there will be ongoing training in anti-trust and compliance matters.</td></tr><tr><td colspan="1">Policy for the gender composition of the Board of Directors and Execu-</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">tive Board, cf. Section 99(b)</td></tr><tr><td colspan="1">The current Board of Directors are elected on an annual basis, and</td></tr><tr><td colspan="1">the board members are selected based on their overall competences.</td></tr><tr><td colspan="1">The Board of Directors currently consists of four members, of which</td></tr><tr><td colspan="1">four are men and the chairman is a woman. Therefore 25% which is in</td></tr><tr><td colspan="1">excess of the 15% target. There has thus been achieved an equitable</td></tr><tr><td colspan="1">gender distribution in the top management team.</td></tr><tr><td colspan="1">As the registered Executive Board at present only consists of one</td></tr><tr><td colspan="1">member, there is no target for the gender composition in the Execu-</td></tr><tr><td colspan="1">tive Board.</td></tr><tr><td colspan="1">RIAS A/S´ personnel policy states that the proportion of women in</td></tr><tr><td colspan="1">other administrative bodies should be increased.</td></tr><tr><td colspan="1">RIAS A/S is taking the following actions to achieve a more equitable</td></tr><tr><td colspan="1">gender composition among the other administrative bodies</td></tr><tr><td colspan="1">Work is being done to ensure at least 25% female managers in the</td></tr><tr><td colspan="1">company which has been achived in 2021/22. This is accomplished by</td></tr><tr><td colspan="1">using recruitment agencies to find the best employees and to ensure</td></tr><tr><td colspan="1">that the candidates include well-qualified women.</td></tr><tr><td colspan="1">Making the company more attractive to managers of both genders,</td></tr><tr><td colspan="1">such as by ensuring there is an HR policy that promotes the career</td></tr><tr><td colspan="1">opportunities of both men and women, which is accomplished by of-</td></tr><tr><td colspan="1">fering a flexible and family-friendly workplace.</td></tr><tr><td colspan="1">Creating a safe framework for individual career development via</td></tr><tr><td colspan="1">networks with managers in other companies, for example, via the in-</td></tr><tr><td colspan="1">tranet where employees can network with other managers in other</td></tr><tr><td colspan="1">thyssenkrupp companies. Our young managers are also participating</td></tr><tr><td colspan="1">in external networking groups.</td></tr><tr><td colspan="1">There have been changes to the management team in the financial</td></tr><tr><td colspan="1">year, and the distribution is 29% women and thus higher compared</td></tr><tr><td colspan="1">to 2020/21 (20%).</td></tr></table></mrv:StatementOfCorporateSocialResponsibility>
<mrv:StatementOfTheDiversityPolicies contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="2">Diversity</td></tr><tr><td colspan="2">At RIAS, we believe that a diverse workplace and an inclusive working</td></tr><tr><td colspan="2">environment is an asset for our company.</td></tr><tr><td colspan="2">We believe that diverse teams are more innovative, make better deci-</td></tr><tr><td colspan="2">sions and contribute to novel thinking, and we also promote tolerance</td></tr><tr><td colspan="2">among our employees.</td></tr><tr><td colspan="2">RIAS wants and strives to be a responsible workplace that recruits,</td></tr><tr><td colspan="2">promotes and develops its employees based on their competences</td></tr><tr><td colspan="2">and in a manner that promotes diversity.</td></tr><tr><td colspan="2">We therefore also make every effort to ensure that our recruitment,</td></tr><tr><td colspan="2">terms of employment, promotions and any potential terminations are</td></tr><tr><td colspan="2">made without prejudice towards gender, sexual orientation, age, na-</td></tr><tr><td colspan="2">tionality, physical ability, handicaps, political views, ethnicity, family</td></tr><tr><td colspan="2">status, religious convictions or other ideologies. When we recruit new</td></tr><tr><td colspan="2">managers, we focus on equal terms and on identifying candidates</td></tr><tr><td colspan="2">from both genders.</td></tr><tr><td colspan="2">How we work with diversity at RIAS</td></tr><tr><td colspan="2">We are continually working on ensuring diversity both in management</td></tr><tr><td colspan="2">teams and among employee groups. We work based on the following</td></tr><tr><td colspan="2">principles</td></tr><tr><td>â¢</td><td>RIAS is a workplace with equal opportunities for everyone in a safe</td></tr><tr><td /><td>and non-discriminatory working environment.</td></tr><tr><td>â¢</td><td>We strive to ensure that women are represented by more than</td></tr><tr><td /><td>25% among our management teams and we therefore focus on</td></tr><tr><td /><td>equal terms and on identifying candidates from both genders when</td></tr><tr><td /><td>recruiting new managers.</td></tr><tr><td>â¢</td><td>We comply with Danish and international human rights standards</td></tr><tr><td /><td>and laws regarding equal opportunity and we offer fair and equal</td></tr><tr><td /><td>terms in employment and working conditions, regardless of gender,</td></tr><tr><td /><td>ethnic origins, religious beliefs or other personal conditions.</td></tr><tr><td>â¢</td><td>We do not tolerate bullying, sexual harassment, discrimination, offen-</td></tr><tr><td /><td>sive behaviour or threats.</td></tr><tr><td>â¢</td><td>We strive to ensure that the composition of our employees is a mix</td></tr><tr><td /><td>of young and experienced employees who together can inspire and</td></tr><tr><td /><td>contribute to the development of RIAS.</td></tr></table></mrv:StatementOfTheDiversityPolicies>
<mrv:StatementOfPolicyForDataEthics contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Data ethics § 99 d</td></tr><tr><td colspan="1">A data ethics policy was developed in 2022.</td></tr><tr><td colspan="1">It is RIAS´s policy to maintain the highest ethical standards and com-</td></tr><tr><td colspan="1">ply with all applicable data and privacy laws and regulations. Our</td></tr><tr><td colspan="1">work with data ethics is governed by the data ethics policy as well as</td></tr><tr><td colspan="1">internal policies and standard operating procedures.</td></tr><tr><td colspan="1">As described in RIASâ Policy for data ethics, which is available at rias.</td></tr><tr><td colspan="1">dk, we at RIAS have identified a number of data ethical values that we</td></tr><tr><td colspan="1">as a company must work towards, and which can support that we al-</td></tr><tr><td colspan="1">ways make well-considered decisions on our digital journey. The data</td></tr><tr><td colspan="1">ethical values are places on top of the relevant legislation for the area</td></tr><tr><td colspan="1">and complement RIASâ personal data policy.</td></tr><tr><td colspan="1">The policy implies that RIAS continuously consider the advantages</td></tr><tr><td colspan="1">and disadvantages of the use of new digital solutions in relation to the</td></tr><tr><td colspan="1">data processing they entail, as RIAS is very aware that the use and</td></tr><tr><td colspan="1">processing of data must never go beyond RIASâ data ethical values</td></tr><tr><td colspan="1">and in the end, end up damaging trust in RIAS as a digitally respon-</td></tr><tr><td colspan="1">sible company.</td></tr><tr><td colspan="1">Please refer to riasnordic.com/about-rias/data-ethics-policy</td></tr></table></mrv:StatementOfPolicyForDataEthics>
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<sob:StatementByExecutiveAndSupervisoryBoards contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Managementâs Statement</td></tr><tr><td colspan="1">The Board of Directors and the Executive Board have today considered</td></tr><tr><td colspan="1">and adopted the Annual Report of RIAS A/S for 2021/22.</td></tr><tr><td colspan="1">The Annual Report has been prepared in accordance with International</td></tr><tr><td colspan="1">Financial Reporting Standards (IFRS) as adopted by the EU and Danish</td></tr><tr><td colspan="1">disclosure requirements for listed companies.</td></tr><tr><td colspan="1">In our opinion, the Financial Statements give a true and fair view of the</td></tr><tr><td colspan="1">financial pfinancial position of the Company at 30 September 2022 and of</td></tr><tr><td colspan="1">the results of the Company operations and cash flows for the financial</td></tr><tr><td colspan="1">year 1 October 2021 â 30 September 2022.</td></tr><tr><td colspan="1">In our opinion, Managementâs Review provides a true and fair</td></tr><tr><td colspan="1">account of the development of Companyâs activities and financial</td></tr><tr><td colspan="1">circumstances, the profit for the year, cash flows and financial position</td></tr><tr><td colspan="1">as well as a description of the most material risks and uncertainties</td></tr><tr><td colspan="1">that may affect the Company.</td></tr><tr><td colspan="1">In our opinion, the annual report of Rias A/S for the financial year 1 Octo-</td></tr><tr><td colspan="1">ber 2021 to 30 September 2022 identified asRIAS-2022-09-30-en.xhtml</td></tr><tr><td colspan="1">is prepared, in all material respects, in compliance with the ESEF Regu-</td></tr><tr><td colspan="1">lation.</td></tr><tr><td colspan="1">We recommend that the Annual Report be adopted at the Annual General</td></tr><tr><td colspan="1">Meeting.</td></tr></table></sob:StatementByExecutiveAndSupervisoryBoards>
<sob:PlaceOfSignatureOfStatement contextRef="ctx1" xml:lang="da">Roskilde</sob:PlaceOfSignatureOfStatement>
<sob:DateOfApprovalOfAnnualReport contextRef="ctx1">2022-12-07</sob:DateOfApprovalOfAnnualReport>
<arr:IndependentAuditorsReportsAudit contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Independent Auditorâs Reports</td></tr></table></arr:IndependentAuditorsReportsAudit>
<arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">To the shareholders of RIAS A/S</td></tr></table></arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements>
<arr:AuditorsReportOnFinancialStatements contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Report on the audit of the Financial Statements</td></tr></table></arr:AuditorsReportOnFinancialStatements>
<arr:OpinionOnAuditedFinancialStatements contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Our opinion</td></tr><tr><td colspan="1">In our opinion, the Financial Statements give a true and fair view of the Companyâs financial position at 30 September 2022 and of the results of the Com-</td></tr><tr><td colspan="1">panyâs operations and cash flows for the financial year 1 October 2021 to 30 September 2022 in accordance with International Financial Reporting Stand-</td></tr><tr><td colspan="1">ards 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 Long-form Report to the Audit Committee and the Board of Directors.</td></tr><tr><td colspan="1">What we have audited</td></tr><tr><td colspan="1">The Financial Statements of RIAS A/S for the financial year 1 October 2021 to 30 September 2022 comprise the statement of comprehensive income, bal-</td></tr><tr><td colspan="1">ance sheet, statement of changes in equity, cash flow statement and notes, including summary of significant accounting policies (âFinancial Statementsâ).</td></tr></table></arr:OpinionOnAuditedFinancialStatements>
<arr:DescriptionOfQualificationsOfAuditedFinancialStatements contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Basis for opinion</td></tr><tr><td colspan="1">We conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional requirements applicable in Denmark. Our respon-</td></tr><tr><td colspan="1">sibilities under those standards and requirements are further described in the Auditorâs responsibilities for the audit of the Financial Statements section</td></tr><tr><td colspan="1">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 Company in accordance with the International Ethics Standards Board for Accountantsâ International Code of Ethics for Profes-</td></tr><tr><td colspan="1">sional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark. We have also fulfilled our other ethical responsibilities in</td></tr><tr><td colspan="1">accordance with these requirements and 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 RIAS A/S on 18 January 2013 for the financial year 2012/13. We have been reappointed annually by shareholder reso-</td></tr><tr><td colspan="1">lution for a total period of uninterrupted engagement of ten years including the financial year 2021/22.</td></tr></table></arr:DescriptionOfQualificationsOfAuditedFinancialStatements>
<arr:KeyAuditMattersAudit contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="2">Key audit matters</td></tr><tr><td colspan="2">Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the Financial Statements for 2021/22.</td></tr><tr><td colspan="2">These matters were addressed in the context of our audit of the Financial Statements as a whole, and in forming our opinion thereon, and we do not pro-</td></tr><tr><td colspan="2">vide a separate opinion on these matters.</td></tr><tr><td>Key audit matter</td><td>How our audit addressed the key audit matter</td></tr><tr><td colspan="2">Valuation of goodwill</td></tr><tr><td>Goodwill amounts to DKK 53 million and is attributable to</td><td>We assessed the impairment test prepared by Management, including the</td></tr><tr><td>the acquisitions of the activities in Rodena A/S in 2002 and</td><td>determination of the entire business as one cash generating unit.</td></tr><tr><td>Nordisk Plast A/S in 2008.</td><td>We assessed the assumptions applied by Management in budgets and fore-</td></tr><tr><td /><td>casts, including net revenue growth, contribution margin together with ex-</td></tr><tr><td>The valuation of goodwill is tested annually for</td><td>pected decline in sales pricing, cost control initiatives, changes to working</td></tr><tr><td>impairment. Key assumptions in determining future cash</td><td>capital, expected capital expenditure as well as the determination of discount</td></tr><tr><td>flows are earnings growth, including in particular revenue</td><td>rate and long-term growth rate.</td></tr><tr><td colspan="2">growth in the Building &amp; Construction Division</td></tr><tr><td>including the Swedish market as well as maintenance of</td><td>We compared budgets and plans for prior years with actual figures rea-lised</td></tr><tr><td>revenue in the Industry Division, contribution margin</td><td>with a view to assessing the accuracy of the judgements and estimates pre-</td></tr><tr><td>together with expected decline in sales pricing, cost control</td><td>viously made by Management. In particular, we challenged Managementâs</td></tr><tr><td>initiatives, changes to working capital and expected capital</td><td>assessment of the development in market conditions in relation to higher in-</td></tr><tr><td>expenditure as well as the discount rate and long-term</td><td>flation and expected recession, foundation for further growth and initiatives</td></tr><tr><td>growth rate.</td><td>to optimise production methods for the purpose of improving margins.</td></tr><tr><td /><td>We assessed the sensitivity in the value in use of future cash flows for</td></tr><tr><td>We focused on the valuation of goodwill because the</td><td>changes to the assumptions in the budget and forecast period concerning</td></tr><tr><td>assessment of impairment requires considerable</td><td>profit/loss before financial items and tax, and in particular the terminal peri-</td></tr><tr><td>judgement and estimates by Management.</td><td>od together with changes to the discount rate in connection with the develop-</td></tr><tr><td>Reference is made to note 11 âintangible assetsâ.</td><td>ment in the risk free interest rate.</td></tr><tr><td /><td>We assessed disclosure including sensitivity analysis for key assumptions.</td></tr></table></arr:KeyAuditMattersAudit>
<arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Statement on Managementâs Review</td></tr><tr><td colspan="1">Management is responsible for Managementâs Review.</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 Manage-</td></tr><tr><td colspan="1">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 Financial Statements and has been prepared in accordance</td></tr><tr><td colspan="1">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="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Managementâs responsibilities for the Financial Statements</td></tr><tr><td colspan="1">Management is responsible for the preparation of financial statements that give a true and fair view in accordance with International Financial Reporting</td></tr><tr><td colspan="1">Standards as adopted by the EU and further requirements in the Danish Financial Statements Act, and for such internal control as Management determines</td></tr><tr><td colspan="1">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 Companyâs ability to continue as a going concern, disclosing, as applicable,</td></tr><tr><td colspan="1">matters related to going concern and using the going concern basis of accounting unless Management either intends to liquidate the Company or to</td></tr><tr><td colspan="1">cease operations, or has no realistic alternative but to do so.</td></tr></table></arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements>
<arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Auditorâs responsibilities for the audit of the Financial Statements</td></tr><tr><td colspan="1">Our objectives are to obtain reasonable assurance about whether the Financial Statements as a whole are free from material misstatement, whether due</td></tr><tr><td colspan="1">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</td></tr><tr><td colspan="1">audit conducted in accordance with ISAs and the additional requirements applicable in Denmark will always detect a material misstatement when it exists.</td></tr><tr><td colspan="1">Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence</td></tr><tr><td colspan="1">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</td></tr><tr><td colspan="1">scepticism throughout the audit. We also</td></tr><tr><td colspan="1">⢠Identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, design and perform audit</td></tr><tr><td colspan="1">procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of</td></tr><tr><td colspan="1">not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery,</td></tr><tr><td colspan="1">intentional omissions, misrepresentations, or the override of internal control.</td></tr><tr><td colspan="1">⢠Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances,</td></tr><tr><td colspan="1">but not for the purpose of expressing an opinion on the effectiveness of the Companyâs internal control.</td></tr><tr><td colspan="1">⢠Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by</td></tr><tr><td colspan="1">Management.</td></tr><tr><td colspan="1">⢠Conclude on the appropriateness of Managementâs use of the going concern basis of accounting and based on the audit evidence obtained,</td></tr><tr><td colspan="1">whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Companyâs ability to continue as a</td></tr><tr><td colspan="1">going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditorâs report to the related dis</td></tr><tr><td colspan="1">closures in the Financial Statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence</td></tr><tr><td colspan="1">obtained up to the date of our auditorâs report. However, future events or conditions may cause the Company to cease to continue as a</td></tr><tr><td colspan="1">going concern.</td></tr><tr><td colspan="1">⢠Evaluate the overall presentation, structure and content of the Financial Statements, including the disclosures, and whether the Financial</td></tr><tr><td colspan="1">Statements represent the underlying transactions and events in a manner that gives a true and fair view.</td></tr><tr><td colspan="1">We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings,</td></tr><tr><td colspan="1">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</td></tr><tr><td colspan="1">to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence and, where applicable, actions</td></tr><tr><td colspan="1">taken to eliminate threats or safeguards applied.</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</td></tr><tr><td colspan="1">Statements of the current period and are therefore the key audit matters. We describe these matters in our auditorâs report unless law or regulation</td></tr><tr><td colspan="1">precludes public disclosure about the matter.</td></tr></table></arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed>
<arr:AuditorsReportOnXbrlTagging contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Report on compliance with the ESEF Regulation</td></tr><tr><td colspan="1">As part of our audit of the Financial Statements we performed procedures to express an opinion on whether the annual report of RIAS A/S for the financial</td></tr><tr><td colspan="1">year 1 October 2021 to 30 September 2022 identified as RIAS-2022-09-30-en.xhtml is prepared, in all material respects, in compliance with the Commission</td></tr><tr><td colspan="1">Delegated Regulation (EU) 2019/815 on the European Single Electronic Format (ESEF Regulation) which includes requirements related to the preparation</td></tr><tr><td colspan="1">of the annual report in XHTML format.</td></tr><tr><td colspan="1">Management is responsible for preparing an annual report that complies with the ESEF Regulation. This responsibility includes the preparing of the annual</td></tr><tr><td colspan="1">report in XHTML format.</td></tr><tr><td colspan="1">Our responsibility is to obtain reasonable assurance on whether the annual report is prepared, in all material respects, in compliance with the ESEF Regulation</td></tr><tr><td colspan="1">based on the evidence we have obtained, and to issue a report that includes our opinion. The procedures consist of testing whether the annual report</td></tr><tr><td colspan="1">is prepared in XHTML format.</td></tr><tr><td colspan="1">In our opinion, the annual report of RIAS A/S for the financial year 1 October 2021 to 30 September 2022 identified as RIAS-2022-09-30-en.xhtml are prepared,</td></tr><tr><td colspan="1">in all material respects, in compliance with the ESEF Regulation.</td></tr></table></arr:AuditorsReportOnXbrlTagging>
<arr:SignatureOfAuditorsPlace contextRef="ctx1" xml:lang="da">Hellerup</arr:SignatureOfAuditorsPlace>
<arr:SignatureOfAuditorsDate contextRef="ctx1">2022-12-07</arr:SignatureOfAuditorsDate>
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rsrapport</gsd:InformationOnTypeOfSubmittedReport>
<gsd:IdentificationNumberCvrOfSubmittingEnterprise contextRef="ctx1">44065118</gsd:IdentificationNumberCvrOfSubmittingEnterprise>
<gsd:NameOfSubmittingEnterprise contextRef="ctx1" xml:lang="da">Rias A/S</gsd:NameOfSubmittingEnterprise>
<gsd:AddressOfSubmittingEnterpriseStreetAndNumber contextRef="ctx1" xml:lang="da">Industrivej 11</gsd:AddressOfSubmittingEnterpriseStreetAndNumber>
<gsd:AddressOfSubmittingEnterprisePostcodeAndTown contextRef="ctx1" xml:lang="da">4000 Roskilde</gsd:AddressOfSubmittingEnterprisePostcodeAndTown>
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<gsd:PrecedingReportingPeriodStartDate contextRef="ctx1">2020-10-01</gsd:PrecedingReportingPeriodStartDate>
<gsd:PredingReportingPeriodEndDate contextRef="ctx1">2021-09-30</gsd:PredingReportingPeriodEndDate>
<cmn:TypeOfAuditorAssistance contextRef="ctx1">Revisionspåtegning</cmn:TypeOfAuditorAssistance>
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<arr:TypeOfModifiedOpinionOnAuditedFinancialStatements contextRef="ctx1">Konklusion</arr:TypeOfModifiedOpinionOnAuditedFinancialStatements>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx2" xml:lang="da">Astrid Meicherczyk</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx2" xml:lang="da">Chairman</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx3" xml:lang="da">Steen Raagaard Andersen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx3" xml:lang="da">Vice-chairman</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx4" xml:lang="da">Nicolas Neuwirth</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx4" xml:lang="da">Board member</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx5" xml:lang="da">Dieter Wetzel</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx5" xml:lang="da">Board member</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx6" xml:lang="da">June Svendsen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx6" xml:lang="da">Employee Representative</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx7" xml:lang="da">Søren Koustrup</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx7" xml:lang="da">Employee Representative</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx8" xml:lang="da">Henning Hess</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
<cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx8" xml:lang="da">CEO</cmn:TitleOfMemberOfExecutiveBoard>
<ifrs-full:Revenue contextRef="ctx9" unitRef="vDKK" decimals="-3">308466000</ifrs-full:Revenue>
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<ifrs-full:Cash contextRef="ctx10" unitRef="vDKK" decimals="-3">34779000</ifrs-full:Cash>
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<ifrs-full:RetainedEarnings contextRef="ctx11" unitRef="vDKK" decimals="-3">144321000</ifrs-full:RetainedEarnings>
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<ifrs-full:Equity contextRef="ctx11" unitRef="vDKK" decimals="-3">177354000</ifrs-full:Equity>
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<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx12" xml:lang="da">Cash flows from operating activities before changes in working capital</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
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<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx13" unitRef="vDKK" decimals="-3">26807000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx14" xml:lang="da">Cash flows before financial income and expenses and tax</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
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<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx15" xml:lang="da">Cash flows before financial income and expenses and tax</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx15" unitRef="vDKK" decimals="-3">10018000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-full:CashAndCashEquivalents contextRef="ctx16" unitRef="vDKK" decimals="-3">27084000</ifrs-full:CashAndCashEquivalents>
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<cmn:NameOfAuditFirm contextRef="ctx18" xml:lang="da">PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab</cmn:NameOfAuditFirm>
<gsd:AddressOfAuditorStreetName contextRef="ctx18" xml:lang="da">Strandvejen</gsd:AddressOfAuditorStreetName>
<gsd:AddressOfAuditorStreetBuildingIdentifier contextRef="ctx18" xml:lang="da">44</gsd:AddressOfAuditorStreetBuildingIdentifier>
<gsd:AddressOfAuditorPostCodeIdentifier contextRef="ctx18" xml:lang="da">DK-2900</gsd:AddressOfAuditorPostCodeIdentifier>
<gsd:AddressOfAuditorDistrictName contextRef="ctx18" xml:lang="da">Hellerup</gsd:AddressOfAuditorDistrictName>
<cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx18">33771231</cmn:IdentificationNumberCvrOfAuditFirm>
<cmn:NameAndSurnameOfAuditor contextRef="ctx18" xml:lang="da">Torben Jensen</cmn:NameAndSurnameOfAuditor>
<cmn:DescriptionOfAuditor contextRef="ctx18" xml:lang="da">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
<cmn:IdentificationNumberOfAuditor contextRef="ctx18">mne18651</cmn:IdentificationNumberOfAuditor>
<cmn:NameAndSurnameOfAuditor contextRef="ctx19" xml:lang="da">Christian Møller Gyrsting</cmn:NameAndSurnameOfAuditor>
<cmn:DescriptionOfAuditor contextRef="ctx19" xml:lang="da">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
<cmn:IdentificationNumberOfAuditor contextRef="ctx19">mne44111</cmn:IdentificationNumberOfAuditor>
<cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx19">33771231</cmn:IdentificationNumberCvrOfAuditFirm>
<cmn:NameOfAuditFirm contextRef="ctx19" xml:lang="da">PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab</cmn:NameOfAuditFirm>
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