Assets

Type	Time	Amount	Unit
ifrs-full:Assets	2022-12-31	3572291000	dkk
ifrs-full:Assets	2021-12-31	3577709000	dkk

Revenue

Type	Start date	End date	Amount	Unit
ifrs-full:Revenue	2022-01-01	2022-12-31	4329833000	dkk
ifrs-full:Revenue	2021-01-01	2021-12-31	4314783000	dkk

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   <mrv:StatementOfCorporateSocialResponsibility contextRef="ctx-1" id="pp-value-1-1" xml:lang="en">Our progress with sustainability in 2022Sustainability is an integral part of our strategy, and we consistently pursue our ambitions of operating a responsible business, securing our people, and playing an active part in reducing climate change with an overall ambition of reducing CO emissions by 70% by 2030. 2In 2022, we continued our sustainability journey and further integrated ESG throughout our business, from strategy and governance to product innovation and customer offerings. HusCompagniet is committed to achieving our important climate, people and responsible business targets by 2030. With focus on our customers and the next generations, we are working with everyone in the value chain to improve our offerings. We want to take leadership in new solutions because the world needs sustainable homes. In 2022, we established a steering com-mittee gathering every quarter with a view to further structure and strengthen our work towards our climate targets. In 2022, we also acquired a pre-fab factory for wooden frames, further strengthening our sustainability journey.Sustainability issues such as climate change, safety, diversity, and inclusion are at the top of the agenda for investors, customers, and regulators. And as a leading house builder in the Nordics, we are uniquely positioned to contribute to sustainability within our industry and throughout the value chain. We are constantly driv-ing innovation to reduce CO emissions throughout the lifecycle 2of a house. Besides this, we actively promote respect for human and labour rights, fight corruption, and pioneer low-carbon offer-ings in the market. Our business model can be found on page 17.Sustainability reportingHusCompagniet is a signatory to UN Global Compact and committed to upholding the ten principles of human rights, labour rights, anti-corruption, and the environment. The following report is our Communication on Progress according to that commitment. We are also presenting our Task Force on Climate-Related Financial Disclosures for 2022 along with material sector topics and metrics according to Sustainability Accounting Standards (SASB). Our ESG data are prepared in alignment with the recommended indicators from CFA Society Denmark, FSR – Danish Auditors, and Nasdaq Copenhagen. In 2022, we have for the second time included disclosures according to the EU taxonomy for sustainable activities. On the following page is an overview of our targets, initiatives, and results in 2022.Our strategic approach to sustainabilityA range of sustainable challenges impact our business and our stakeholders.We identify and prioritise key challenges. For house building in particular, we identify what lies within our control and what we can influence in the best possible way.We develop roadmaps, initiatives and programmes to address key challenges.We relate our targets to specific SDGs. See page 33 for SDGs linked to our targets. Ambitions Baseline (2019) Results 2022 Target/Ambitions 2023 Target 2025 Target 2030 Related SDGs2 per year from •   Ready for Danish regulatory requirements for LCA from 2023•   Collect data from LCAs to guide customer •   35% reduction in 1:  Climate – •   5.8 kg CO2e per m•   70% reduction in CO2building materialsbuilding materials through the lifecycle •   LCA of 4 house types analysedchoices and to prioritise further workupstream CO2 emissions emissions from building of a house•   LCA of our standard house updated with newest products and •   Implement low-carbon solutions in portfolio, from building materials materials through the Target 9.4•   3,7 kg CO2data, showing 12% reduction from the production of building including wooden frames from HC Productioncompared to 2019 (2.6kg lifecycle of a house 2e per m per year from the production of building materialsmaterials and 11% reduction for materials through the lifecycle•   Prepare for Danish regulatory requirement CO2compared to 2019 (1.7kg 2 per m per year)•   Construction started on first DGNB project, several other of including transportation and energy CO22 per m per year)DGNB projects in our pipelineconsumption from construction sites in climate •   DGNB consultants trainedcalculations•   Low-carbon solutions tested and developed with a particular focus on concrete, bricks and façade solutions2:  Climate – •   48% of houses ordered with one •   Natural gas phased out •   Consider specific target on solar energy•   60% of houses ordered •   Assess and set new customer or more on-site renewable energy •   Continued education of sales force in advising customers on •   Monitor regulatory requirements from the EU on with renewable energy targets accordingly use phasetechnologiesheating sources and solar energy, 17% of detached houses (in solar energysourcesTarget 7.1Denmark) with solar panels (tripling from 2021)•   Target reached (with 45% •   2025 target reachedwith renewable heating sources and 55% with district heating, which on average is 70 % renewable)3:  Climate – own •   878 tonnes scope 1 CO2 emissions •   Continued installing charging infrastructure at offices•   Continue installing charging infrastructure at •   Zero scope 1 emissions •   Carbon-neutral  scope operations(owned and leased company vehicles)•   PPA (Power Purchase Agreement) and other similar products officesthrough 100% electric 1 and 2 emissions from •   1,536 tonnes scope 2 COconsidered•   Start changing smaller vans to EVsowned and leased operations2 emissions Target 13.3(purchased electricity and heating)•   Continue monitoring development in range for vehicle fleet.  bigger vansTarget not expected •   Enter PPA or similar agreement to be reached – will be reassessed in 2023.Ambitions Baseline (2019) Results 2022 Target/Ambitions 2023 Target 2025 Target 2030 Related SDGs4:   Employee •   2.2% sick leave•   1,9% sick leave•   Improve eNPS score through more stable •  Maintain sick leave at 2% •  Maintain sick leave at 2%well-being•   Response rate: 89%*•   Annual employee satisfaction survey carried out across organisation•   Satisfaction score: 77%*Danish operations (for the third time and including our new •   Loyalty score: 85%*production operations for the first time) as well as our Swedish •   eNPS:  47*operations (for the first time).•   mNPS:  42*•   Baseline established for Swedish operations *2020-baseline•   Individual health survey carried out across Danish operations•   Response rate: 84%•   Satisfaction score: 75%•   Loyalty score: 83%•   eNPS: 30 (down 11 compared to 2021)•   mNPS: 47 (up 4 compared to 2021)Target 8.55:  Diversity &amp; •   One female out of seven total members •   Two females out of six total members on the Board of •   Two females out of six total members on the •   Two females out of six •   Two females out of six total inclusionon the Board of DirectorsDirectorsBoard of Directorstotal members on the members on the Board of •   20% females in management at Group •   40% females in management at Group levelBoard of DirectorsDirectorsTarget 5.5 Target 10. 3level•   25% females in •   30% females in management at Group management at Group levellevel•   Monitor possible new regulatory requirements around gender quotas in Denmark6:  Health &amp; safety•   LTIf of 15.2 for own blue and white •   Reduced overall LTIf from 11.4 in 2020 to 9.3 in 2022 •   Continue implementing initiatives (e.g. on-site •   Reduce LTIf by 30% •   Reduce LTIf by 50% collar•   Top safety issues identified and safety reporting system safety inspections, site planning for materials, compared to 2019compared to 2019•   LTIf of 10.7 for subcontractorsimplementedlearning from near misses)Target 8.3, 8.5•   Continue embedding safety in our own and our subcontractors’ culture7:   Responsible •   Employee Guidelines for Values and •   Code of Conduct integrated into contracts, operations, and •   Continue focus on ensuring best practice poli-•   Annual targets set •   Annual targets setbusinessEthics HR manualscies are in place•   Standards of Business ConductTarget 16.58:   Sustainable •   Supplier Code of Conduct•   Suppliers and subcontractors have signed the updated Code •   Continue engaging with suppliers in creating •  Annual targets set •   Annual targets setsourcing•   Whistle-blower  systemof Conduct more sustainable solutions•   Initiated dialogue with suppliers in documentation on more •   Continue focus on adoption of Code of Conduct Target 12.6sustainable products, among other as input to LCAsthroughout the supply chain9:  Labour rights and •   Employee Guidelines for Values and •   Continued awareness efforts have been conducted towards •   Continue to work with suppliers and •   Annual targets set •   Annual targets sethuman rightsEthics suppliers and subcontractorssubcontractors to promote sound working •   Standards of Business ConductconditionsTarget 8.7, 8.8 Target 10. 3Materiality &amp; The UN Sustainable Development GoalsThe prioritisation of our material sustainability topics focus areas is based on the UN Sustainable Development Goals (SDGs) and directs our focus to areas, where we can make a positive impact. At the same time, we acknowledge that the nature of our commercial activities also entails the risk of negative impact, which we have a responsibility to mitigate and minimise. The product stage of building materials includes the raw mate-rial supply, transport, and man-ufacturing of building materials. We can influence this phase of the house’s lifecycle through our offerings to customers, and by working with our suppliers to reduce the environmental impact of production.The house construction phase includes transport to the site, construction of the house, and HusCompagniet’s operations. We have the most direct influence over our own operations in this phase, including our construction man-agers, but also in choosing materials. We focus on limiting waste by constantly optimising quantity calculations and thus reducing excess materials to the site. It is worth noting that from 2025, it is expected that regulatory requirements in Denmark will include transportation to, as well as energy consumption and waste on, the construction sites.After a house is delivered to our customers, the use phase consists of maintenance, repair, replacement, refurbishment, and operational ener-gy and water use. HusCompagniet’s influence on this phase is driven by the on-site energy solution and the house design, as well as by the guidance provided to our customers as they move into their new home. The end of life of a house involves demolition, including transport and processing of materials for recycling, reuse, recovery, or disposal. While furthest from our influence, our main contribution to this phase is through the selection of materials, that are, for example, more readily recycled or reused. In some geographical areas, where new land plots are not available, the construction of a new house is more often than elsewhere preceded by the demolition of an old house. For this, we partner with demolition companies who practice selective demolition to the highest pos-sible extent, to secure material reuse, recycling, and recovery.In addition to carbon emissions, other environmental im-pacts include water and waste. HusCompagniet’s current influence on waste at the end of the lifecycle of a house lies primarily in selection of materials that can be reused, recy-cled and recovered. Since water is not a natural resource used in large volumes during our construction process, and we do not operate in areas of high-water stress, this issue has been deselected for the time being. We still, however, acknowledge the key role of the water in healthy ecosys-tems and the importance of efficiency. Material social topics for HusCompagniet include health and safety, employee well-being, diversity, and inclusion, as well as human and labour rights, and anti-corruption. These elements are core to the long-term success of our business and our values as a company and inform our sustainability ambitions. With our asset-light business model in mind, we are aware of our responsibility to also uphold these standards with our subcontractors and suppliers.Climate changeClimate change is one of the defining challenges of our time. It is an urgent global threat, and how we respond will determine the trajectory of global warming for generations.The impacts of climate change are wide ranging, from physical events such as flooding, extreme weather events, water, and heat stress, to climate-related displacement and subsequent population movement, all of which have implications for business in the future. The climate transition also presents significant opportunities for HusCompagniet and others.HusCompagniet's vision is to set a new standard for sustain-able construction and changing the way people think and talk about house building and sustainable living. We aim to drive the agenda, not just follow it. For HusCompagniet, climate change presents opportunities to bring new, low-carbon house concepts and alternative energy technologies to our customers. It also presents risks that we must mitigate, starting with reducing our own CO2emissions. We are committed to take a leadership role in climate-related innovation, reducing our CO emissions, and 2integrating climate considerations into our strategic decision making. The acquisition of a wooden frame factory in 2022 is an illustration of this commitment, which we pursue throught both incremental and radical innovation.Being in the construction industry and as market leader, we acknowledge the responsibility to contribute towards a more sustainable development. As a house builder, we have a key impact on climate change, which we address across the lifecycle of a house. Pursuing ambitious targetsIn 2019 we began our journey and set ambitious targets for 2025 and 2030. In doing so, we understand that we need the commitment of our suppliers, and equally important we need to find the right sustainable and cost-efficient solutions for our customers. We believe the sustainable choice should be available for the many, and it is our aim to inspire and enable our customers to reduce the climate impact of their homes in the most cost-efficient way.It is our ambition to reduce the lifecycle CO emissions from 2building materials of HusCompagniet homes by 70% by 2030. To achieve this target, we are focusing our efforts on the areas, where we have the biggest impact. One of the most important areas is in the selection of lower carbon building materials, and we have set a short-term target of a 35% reduction in CO emissions from the production 2of building materials by 2025. In 2022, we have updat-ed the climate calculation of our baseline house with the newest products and data to get an updated status on the achievement of our targets. The calculation shows that CO2emissions from the building of our baseline house has been reduced by 12% and emissions from materials throughout the entire life cycle has been reduced by 11% compared to 2019. See more details on page 38. The biggest reductions come from foundations, bricks, roofing tiles and heating installa-tion. Hence, we are confident that we can reach our 2025 target. To reach our 2030 target, more radical reductions from our suppliers will be necessary. With the new regulato-ry requirements in Demark from 2023, a climate calculation will be made on all our houses, giving us an even more refined understanding of the factors influencing the carbon footprint of a house, and when relevant, we plan to dissemi-nate this to our customers so they can make more informed decisions.Transparent reportingIn 2021 we used external support to evaluate our ESG figures. We chose a free reliable data source on emissions factors from “Energistyrelsen” and restated figures for 2020 and 2019 for comparability. We believe this will provide a smooth process for the 2023 assurance process.In 2021, we added market-based emission figures. For 2022, total CO emissions (Scope 1 &amp; 2 market-based) show an in-2crease of 34%, due to an increase in Scope 2. The latter can be explained by handing over more houses (7% more deliv-2ered m than in 2021), with extended construction periods spanning from 2021 to 2022. This means energy accounted for in 2022, was also used in 2021. In 2023, we will look into more refined methods for data collection to be able to take this into account.The carbon intensity of our operations (market based)2increased by 25% from 18,4 kg CO e per m to 23,1 kg, due 2to the same reasons as the increase in our total Scope 1 and 2 emissions. We do not participate in the purchase of certificates, which would significantly improve the figures. We believe the market for purchase of certificates is not a reliable way of re-ducing emissions but rather a way to artificially improve your figures. In 2022, we looked into the opportunity of entering into Power Purchase Agreements and similar agreements, as a way to contributing to expanding the market for renewable energy and not just buying certificates that claims the usage of existing sources. In 2023, we plan to enter the first of such an agreement.Scope 1 emissions were almost the same as in 2021 (down 1 %), and down 13% compared to our base year 2019 (market based), illustrating that the increase in our carbon intensity and total Scope 1 and 2 emissions come exclusively from an increase in Scope 2 emissions.From incremental to more radical portfolio initiatives 2019 provided us with important knowledge of the life-cycle emissions (LCA) of our standard house, which constitute around 80% of our sales. 2020 and 2021 gave us important learnings, when we developed and launched our Climate-Im-proved house. Since then, we have used the learnings from this process to develop initiatives and as an incubator for low-carbon solutions that can be rolled out across our entire portfolio. The first steps were taken in 2021, and in 2022 we developed and made climate calculations on new façade solutions, inspired by the façade solution used on our Climate-Improved house. When using these solutions, CO emissions from one running metre of outer wall are 2reduced by approximately 30% compared to our most used brick facade. More will follow in the coming years, including the implementation of wood frames in our portfolio. We are in close cooperation with our suppliers to explore and test for low-carbon solutions and building materials and in 2022, we have had a particular focus on lower carbon versions of bricks and concrete. We believe this will enable us to assess and scale viable solutions that reduce CO emissions throughout the portfolio 2and achieve our targets.From the end of 2021 and throughout the first half of 2022, we launched a campaign, offering renewable energy sourc-es at low cost – leading among others to a tripling of the percentage of houses with solar panels (to 17%). The energy crisis naturally increased customer demand for solar energy, and we expect the demand to continue to increase with the expected increase in electricity demand due to, among others, electric vehicles and heat pumps. Since 1 January 2022, we no longer offer gas as heating source, and this has resulted in a reduction of the CO emis-2sions from the use phase of our houses of 30% compared to 2019.Production of materials Target 2025: 35% reduction of CO2emission from the production of build-ing materials, base year 2019.House construction  Living in the house:  replacementLiving in the house  – energy consumption Target 2025: 60% of houses ordered with  renewable energy sourcesConsidered reached with 45% of houses are with renewa-ble heating sources (geothermal or heat pump), and 55% with district heating, which on average is 70 % renewable.End of life / Demolition Currently, HusCompagniet has the least influence on the end-of-life phase. Our main contribu-tion is through the selection of more readily recycled or reused building material.We continue to partner with dem-olition firms that focus on reuse of materials, and encourage circular and other innovations that further close the loop in the lifecycle of a house.Target 2030: 70% reduction of CO emission from building materials through the lifecycle of a house, base year 20192Climate – building materials in the lifecycleHusCompagniet’s standard house - carbon emissions from materials across the lifecycle of the houseUpstream  scope 3 emissionsEmissions from the production of building materi-als (A1-A3). Reduction from 2019 to 202212%3.7kg CO eq./m/år.3.2A1-A3 Downstream  scope 3 emissionsEmissions from replacement of building materials and components throughout the lifecycle of the house (B4).Reduction from 2019 to 202219%0.90.7B4Downstream  scope 3 emissionsWhen a house reaches the end of its lifetime and is torn down, how materials are disposed, recy-cled, recovered, and reused have a substantial impact on lifecycle CO emissions (C3-C4). 2Reduction from 2019 to 20223%1.3 1.3 C3-C4Reduction from 2019 to 202211%5.95.2TotalWhen assessing climate impact and CO emissions, it is 2important to take a view of the entire value chain of a house, and the upstream and downstream scope 3 emissions. According to the Nordic Council of Ministers, realising the vision of a carbon-neutral and circular building sector will be impossible without addressing CO emissions embedded in 2building materials and processes, which combined represent 11% of global CO emissions, and this emphasises the impor-2tance of focusing on our scope 3 emissions.The emissions under HusCompagniet’s direct control, are scope 1 and 2 emissions from our own operations, where we have the most control, and where we have set the most ambitious targets. However, most of the CO emissions 2across the lifecycle of a house occurs in other phases, in the form of upstream and downstream scope 3 emissions, where HusCompagniet has an influence, but not direct control. Our role in these phases is more complex and requires engagement with our suppliers upstream and our customers downstream. As a large player in our sector, we see poten-tial in leveraging our centralised purchasing and product development efforts for emissions reductions across the value chain. We are in dialogue with all our suppliers about more sustainable products and transparent documentation of climate data.   The lifecycle emissions of the standard houseIn the short- and medium-term, our focus will be upstream and in the use phase, where we can engage with our suppli-ers to reduce scope 3 emissions from the production of build-ing materials, and with our customers, offering houses built with less carbon-intensive materials. When it comes to energy sources, we consider our 2025 target reached, and we will in the future consider further efforts on solar energy. In the longer term, we will further focus on end of life, starting with materials selection, shifting towards more readily recy-cled and reused materials, thereby reducing future down-stream scope 3 emissions.Ready for new regulatory requirements in DenmarkIn March 2021, the Danish government published the National strategy for sustainable construction “National strategi for bæredygtigt byggeri”, that set out expected future require-ments for CO emissions from buildings over a life cycle 2(LCA). We welcome initiatives towards more sustainable housing and HusCompagniet is well positioned to meet the requirements. We could even wish for even more ambitious requirements.According to the agreement, all new-builds below 1,000 sqm will require a climate calculation (a simplified LCA) from 2023, and from 2025 there will be introduced a threshold for maxi-2mum kg COe/m/year. The expected threshold is 10.5 but will 2be assessed by the end of 2023 based on latest knowledge and data. In 2027 the threshold is expected to fall to 9.0 kg 22COe/m/year and in 2029 to 7.5 kg COe/m/year. Already 222from 2023, buildings with emissions under 8.0 kg COe/m/2year belong to the voluntary low emission class. This thresh-old will be lowered to 7 in 2025, 6 in 2027 and 5 in 2029.In 2022, we have improved our understanding of the LCA of our houses and updated them to the calculation methods prescribed in the requirements, which among others include HVAC materials (from heating and ventilation installations) in addition to building materials. This means that our newest climate calculations are not directly comparable to our base-line house, which has therefore been updated separately, as previously explained.As part of a collaboration with BUILD (Aalborg University), we received LCA of nine different show houses (covering four of our house types). Two of these houses, the climate improved house and a show house similar to our baseline house, were further refined and updated with the most recent data. The results show emissions from the mate-2rials throughout the lifecycle of 6.3 and 6.6 kg COe/m/2year, and 7.2 and 9.4 when operational energy is included. The difference in operational energy is explained by the difference between geothermal and district heating, the latter having the highest emissions. However, the calculation methods disadvantage district heating, and while striving for as low a footprint as possible, we think it is important not to forget the bigger picture in terms of the energy system. Our recommendation is therefore that customers choose district heating when available as this is a collective solution that becomes more environmentally and economically sustaina-ble the more buildings that are connected to it, and that on average is 70% renewable in Denmark. Furthermore, district heating is a convenient heating source from a customer perspective, requiring minimal maintenance and facilities in the house.In 2022, we also made climate calculations on six houses, of which four were 'HusOnline' show houses and two were other houses, and four of these were placed in the voluntary 2low emission class (below 8 kg CO eq./m/year).2Based on these calculations, we expect to secure an LCA 2below the expected threshold of 10.5 COe/m/year in all our 2offerings and also that a proportion of our houses will be in the low emission class.It is worth noting that the threshold in the Danish legislation, in contrast to our own targets, include operational energy. In setting and reaching our targets, we treat operational energy separately. Partly by the energy efficiency of our houses (in Denmark, all have Danish energy label A2015 or A2020, and in Sweden most have energy label B or C (corresponding to similar efficiency as Danish label A)), and partly by the choice of heating source and energy production (solar panels).The test phase of the voluntary sustainable building class (to which we contributed back in 2021) has been prolonged to November 2023. We monitor any further development of this class closely and take part in an ongoing dialogue with the authorities where we contribute with our perspective. Our own testing of the class has prepared us for any coming regulatory requirements.On a more local level, that of municipalities, we currently see constraints on choice of for example facade materials. These could hinder the introduction of new lower-carbon alternatives.Case: Climate calculationsAltogether eight climate calculations, living up tp the latest regulatory requirements in Denmark, show that we are well prepared for 2expected treshold value of 10,5 kg CO eq./m/year in 2025. Four of the houses are in the voluntary low emission class.2Single storey straight - 3 bedrooms - 1 bathroomArchitecture: Classic Heating: District / GeothermalSingle storey staggered - 5 bedrooms - 2 bathroomsArchitecture: Classic Heating: District / GeothermalSingle storey staggered - 6 bedrooms - 2 bathroomsArchitecture: Classic Heating: District / GeothermalSingle storey angle - 4 bedrooms - 2 bathroomsArchitecture: Classic Heating: District / GeothermalSingle storey staggered - 4 bedrooms - 2 bathroomsArchitecture: FunctionalistHeating: District / GeothermalSingle storey with angle- 4 bedrooms - 2 bathroomsArchitecture: Classic Heating: District / GeothermalSingle storey straight - 5 bedrooms - 2 bathroomsArchitecture: Classic Heating: District / GeothermalSingle storey angle - 5 bedrooms - 2 bathroomsArchitecture: ClassicHeating: District / GeothermalSustainable energy savingsTo reach the EU's climate neutrality target for 2050, it is crit-ical to ensure a transition towards a more sustainable build-ing stock, requiring both renovation and new-builds. At Hus-Compagniet, we build new homes at high energy efficiency standards, corresponding to the Danish Energy Agency's class A. Almost 75% of buildings in the EU were built before energy performance standards existed. In Denmark, nearly 70% of all houses have an energy class of D or lower. While the construction of a new house incurs more CO2emissions than the renovation of an older house, older hous-es tend to be less energy efficient, making the CO footprint 2during its use phase higher than in a new house. Further-more, even after renovation, there is a limit to how much the energy performance of the existing building stock can be improved. Most existing houses in Denmark cannot reach an energy class higher than C. This also has an economic and social (comfort-related) impact for the home owner, who will expectedly have relatively higher heating costs. The current energy crisis has only emphasised this. We experience that our customers demand energy-efficient homes and see this as an important part of more environ-mentally-friendly houses.A successful green transition must include both new-builds and renovation, and we applaud that both activities have been included in the EU Taxonomy for sustainable activ-ities, as long as the relevant technical criteria are met. At HusCompagniet, we welcome this development towards a uniform classification system of sustainable activities, ensuring a level playing field and providing investors and stakeholders with clarity on how companies' activities are aligned with the green transition. Furthermore, we see a strategic value in the EU Taxonomy, beyond reporting and compliance. Read more about our reporting on Taxonomy eligibility and alignment on page 52.Avoiding CO emissions in our own operations2It is our announced target to become carbon neutral in our scope 1 and 2 emissions by 2030. We have been working to install electric vehicle (EV) charg-ing stations in all offices and after completing a full roll out in 2021, we have in 2022 increased the number of charging stations at some of our large offices as we move towards our 2025 target. In 2021, we tested an electric van for our construction managers. Our construction managers have high mileage requirements, and after the testing period we had to realise that the technological development of vans could not yet meet the milage need of our construction managers. This is still the case. We have thus come to the realisation that it will not be possible to reach this in 2025 for larger vans for construction managers. For our other cars we focus on shift to EV cars, when a car is replaced by a new leasing agree-ment. In 2023, we will start replacing our smaller vans with electrical vans.We are monitoring developments in the EV market closely. While remaining firmly committed to the full electrification of our fleet, we may first be able to reach this in 2026 or 2027. Still, we are optimistic that increased demand will continue to drive technological innovation over the coming years and bring EVs to market with ranges that meet the needs of our employees, especially our construction managers, who spend most of their time on the road or on construction sites.Future initiativesIn 2022, we finalised a test project with our supplier Bygma for waste reduction through reuse of rubble in new bricks, thus, reducing waste from the building process and increas-ing the recycled content of new bricks. However, environ-mental benefits are limited due to increased logistics.A crucial first step in the work on waste reduction is obtain-ing good data on actual waste quantities of each fraction, and in 2022, we have been in close dialogue with our waste handling companies, so that we can secure data and docu-ment the recycling percentage from every single construc-tion site, which will be necessary in order to report according to the EU taxonomy.  It is our ambition that our digitalisation efforts will further op-timise materials delivered to the house through automation of material quantification. We aim to be sustainable while keeping a cost-efficient mindset for our customers. In line with both ‘den frivillige bæredygtighedsklasse’ and the DGNB certification scheme, sustainability must be seen holistically, covering both envi-ronmental, economic and social aspects.Renewable energy facilitates the reach of our common goalWe know from the standard house lifecycle assessment that alternative heating solutions have a substantial impact on the total lifecycle CO emissions of a home. For instance, 2replacing gas heating with geothermal heating reduces lifetime emissions by over 50%. In January 2022, we phased out gas as energy source in our offering, thus fossil energy heating is no longer part of our solutions. Phasing out fossil natural gas in households is an important part of achieving Denmark’s common goal of reducing CO emissions by 70% 2by 2030.Percentage of houses sold with renewable energy sources in 2022Development in percentage of houses with solar panels.17%5%2021 202251%of sold houses have one or more of the following alternative energy sources25%of sold houses have installed air source heat pumps20%of sold houses have installed geo thermal heating pumps17%of sold houses have installed solar panelsCase: Construction started on first semi-detached  DGNB-Gold project - and more projects in the pipelineIn our B2B business, we develop semi-detached projects for customers, ranging from private investors to asset manag-ers, pension funds and other institutional investors. A long investment-time horizon naturally calls for a long-term view on sustainability-related risks and opportunities.DGNB, a leading global certification system for sustainable buildings, is based on the three central sustainability areas of ecology, economy and sociocultural issues. The DGNB certification aims to set more ambitious thresholds than the legislation in order to push the industry towards more sustainable development. DGNB is currently agreed by the industry in Denmark to be the chosen certification due to the holistic approach and the expectation that certified buildings will lift the building quality. At HusCompagniet, we are exploring our product portfolio's alignment with the DGNB criteria, with the aim of providing DGNB-certified projects for our customers. This is currently relevant for our B2B offerings.In 2022, we started building our first DGNB-Gold project, and we have more projects in our pipeline. It is our ambition and expectation that, over time, all our projects will be certi-fied. For the documentation phase we have chosen external support and will benefit from the learnings. In 2022, we further secured general internal knowledge by hiring com-petencies within sustainability and trained two employees to become DGNB consultants. Furthermore, a half day training on DGNB in practice was organised for all employees in our semi-detached team, from design to production.This is clearly a strategic area for HusCompagniet and will serve as an incubator for integrating a holistic approach to sustainability into our broader offerings, and we believe the steps taken towards this will further push our sustainability agenda.PeopleOur employees are the most important asset at HusCompagniet, and their knowledge and insights are among our strongest capabilities. We rely on them to facilitate and deliver high-quality homes for families and doing so safely. We support and engage our people through focusing on safety, well-being, diversity, and inclusion.HusCompagniet has a lean structure, and we work with local subcontractors for most of our construction work. This oper-ating model gives us a high degree of agility and efficiency, which we have benefitted from during the past year with exceptionally high building activities. Our operating model also means that we must maintain a close cooperation with our subcontractors to ensure that they also maintain a satisfactory performance on safety, quality, and sustainability standards. Over the years, we have built long-term, recurring working relationships with our suppliers and subcontractors, which has led to an efficient, standardised operating model across projects.Employee well-beingThe physical and mental well-being of our people is of ut-most importance to HusCompagniet. Meeting our custom-ers’ expectations every day requires us to bring together a broad range of people and skill sets, from sales to architec-ture and construction management. To improve employee engagement and well-being, we continue to work with development and engagement initiatives that improve team dynamics and communication.HusCompagniet uses a psychometric tool to measure and improve employees’ awareness of strengths and devel-opment areas, and to promote understanding of different personality types working together. It is part of our goal to enable better communication both among our employees and in client engagement, and we have had positive feed-back and commitment from many employees. In 2022, all new employees were also tested according to the system. Sick leave is a challenge to both employees and the busi-ness. We aim to maintain sick leave at 2% in 2025. In 2022, sick leave decreased to 1.9% from 3.5% in 2021.  The sick leave is thus slightly below our 2025 target of 2% sick leave. We will continue our efforts to keep it at that level.  Employee satisfactionSince 2020, we have been conducting a yearly employee satisfaction survey measuring areas such as satisfaction and loyalty as well as questions concerning health and safety, diversity and inclusion. In 2022, the survey was extended to also include employees in HusCompagniet Production and VårgårdaHus. The survey yielded a response rate of 84%, with a satisfaction score of 75%, and a loyalty score of 83%, which is only a small decrease compared to 2021. We are very pleased with this performance, which is comparable with both national and industry benchmarks, particularly given the substantial reorganisation and reduction of staff the group has been through in 2022. As part of the survey, we also achieved an employee Net Promoter Score (eNPS) of 30 compared to 41 in 2021. The level reflected a challeng-ing year for our employees and in the assessment, it must also be included that we have extended the survey with HusCompagniet Production and VårgårdaHus. The 30 score is below both industry and eNPS benchmarks, and we aim to improve the score in 2023 with special focus on optimising the building flow for a sustainable working flow.  The results of the survey have been shared with local man-agers, who are tasked with engaging their teams to develop action plans based on the survey results. Our organisational structure, with smaller teams, is well positioned to anchoring efforts at the local level, with our central HR team following progress on local action plans. As such, the implementation of initiatives will be customised to suit the needs of each department at the discretion of managers, who drive our local efforts to improve employee well-being across our organisation.Employee turnover increased to 29% (including redund-encies) from 20% in 2021 heavily influenced by the market conditions and the organisational adjustments we have implemented in 2022. We expect the relatively high level to decrease again when the market normalises. Health and safety The safety of our employees and subcontractors is an un-wavering priority for HusCompagniet. We acknowledge that there is more work to be done regarding employee safety with our subcontractors, and we have taken several steps over the past years to substantially scale up our efforts. Our commitment is to reduce the lost-time injury frequency (LTIf) by 30% in 2025 and by 50% in 2030, respectively, compared to our baseline level in 2019. This target applies to both our own employees and our contractors’ employees. This is an ambitious target, but we remain fully committed to achieving it. Our Board of Directors receives safety updates at all ordi-nary Board meetings to monitor progress against our targets and ensure that the safety of our people and partners remain at the very top of our agenda.Working Environment Policy &amp; Workplace AssessmentWe have a Working Environment Policy in place to guide us in our ambition to protect both our employees, and the em-ployees of our subcontractors, suppliers, and customers. In addition to complying with the Danish working environment regulations, the policy also covers a range of initiatives to prevent accidents and ensure that all partners comply with the same working environment standards and procedures, as we do. By analysing risks and monitoring accidents we aim to ensure that we have the right capabilities, processes, and tools applicable. In 2022, we carried out the statutory annual workplace assessment. The conclusions from the assessment are that we have recurring challenges with noise and temperatures in the offices and are continuously working to improve these. The assessment also showed that we can improve the preparedness level within fire and first aid. In 2023, we will focus on improving these points in our working environment.To monitor safety for both our own employees and our sub-contractors, we make regular safety performance reporting.  We value transparent and accurate reporting, as it is the outset for improving safety performance, and we will work to push towards complete coverage.As part of our safety reporting, we also have a proactive and preventive safety registration on-site, which is integrated into our online project management system. The system en-ables our construction managers and subcontractors to reg-ister safety incidents and pre-emptive safety risk observa-tion such as near misses, observations and safety incidents in the app, we already use in the construction process.Our updated Standards of Business Conduct and Supplier Code of Conduct further detail our expectations of both employees and subcontractors, and we are firmly committed to uphold the highest safety standards on our construction sites. Secure Workplace programmeTo facilitate our efforts on employee safety, we are using the safety programme “Tryg Arbejdsplads” or “Secure Work-place”. The programme includes a broad range of initiatives including improved reporting, increased focus on construc-tion site layout and special focus on working in hights. The programme also includes initiatives to improve competences among our own and subcontractors’ employees and more visible leadership through regular site visits, among others. In 2022, we have implemented further activities, which have been integrated into our safety reporting and management systems.Safety reportingWhile we see a reduction of LTIf for own empolyees of 35% compared to 2019, we see an increase of 25% for subcon-tractors also compared to 2019. This means overall LTIf is 11,6, down 4% compared to 2019. The level of LTIf for subcon-tractors is unsatisfactory, and the overall LTIf is still not in line with our 2025 Target. However, accidents with high risk of fatality have been reduced to 0, which has been a priority in our safety work. It is also worth noting that the use of an online safety inspection application for registration improves our reporting. All together, this illustrates the importance of the investments done in our safety programme launched in H2 2021, and of our relentless attention to safety.Several initiatives have been ongoing in 2022 to ensure structural and systemic change in operations to reduce risk of injuries. The initiatives include but are not limited to:Design and layout of construction site: The purpose of this initiative is to standardise HusCompagniet's construction site layout as far as possible to ensure a better working environment which (as a side effect) also indicates improved operational efficiency. Focus on ensuring access roads, location of the scavenger, areas for new materials and return materials.  Registration and learning of unplanned events: The pur-pose of this initiative is to ensure a learning process and feedback loop, so that the same cause of an occupational accident does not repeat itself. Data on near misses and safety observations is captured via our safety inspection application and data is transferred to PowerBI in which au-togenerated reports are created. Clean building sites: The purpose is to ensure that HusCom-pagniet's construction sites are tidy and that the craftsmen clean up after themselves every day. The project is linked to “Design and layout of construction site” as this sub-project will help to structure the site for surplus materials, waste etc. At the same time, order and tidiness are part of our working environment policy. The initiative is thought to focus on the implementation of order and tidiness and consist of the following elements: • Nudging, for example with posters, metal buckets with sand for cigarette butts etc. • Illustration of the bad habits that exist on many of Hus-Compagniet's sites and that need to be changed • Reporting system with pictures of the site sent to the technical manager once a week (linked to “Learning and registration of unplanned events” • Follow-up from the management with more frequent visits to the site and potential intervention.Responsible businessWorking against corruption, and in support of environmental responsibility, human rights, and labour rights throughout our value chain, is an essential part of our license to operate. We are aware, that our sector is often scrutinised for challenges related to business ethics, labour relations and working conditions. Through our long-standing, recurring business relationships, we are well-positioned to address responsible business principles in collaboration with suppliers and subcontractors.In 2022, our Code of Conduct for our suppliers and our employees have been integrated into our contracts, opera-tions, and HR manuals throughout our organisation, thereby strengthening our position to responsibly address the envi-ronmental and social challenges in our industry. In line with the latest Corporate Governance recommenda-tions, HusCompagniet is guided by a Tax Policy to ensure compliance with applicable regulations, proper behaviour towards public authorities and payment of taxes as required by law. Maintaining ethical standardsAt HusCompagniet, we have a zero-tolerance policy against corruption and bribery in any form, and we are firmly com-mitted to conducting our business responsibly. Our business operations are regulated by our Anti-Corruption and Busi-ness Ethics Policy, which details our approach to combating corruption, and formulates our company’s position on the matter. As a company operating in the construction sector, we are aware that our main business ethics risks lie in our collabo-ration with third parties. As such, we take active measures to ensure that our business partners understand and uphold our ethical standards. All our suppliers are required to ad-here to our Code of Conduct, which reflects our commitment to the UN Global Compact and align with our Anti-Corruption and Business Ethics Policy.  At HusCompagniet, we consider responsible business practices to be fundamental to a transparent, efficient, and prosperous business environment, and we will continue to strengthen our understanding of business ethics risks throughout our organisation and in our collaboration with business partners.Our whistleblower system provides our employees and business partners with a confidential channel for addressing concerns or breaches of our ethical standards without fear of reprisal. No breaches to our Anti-Corruption Policy were identified during 2022.Engaging with our suppliers and  subcontractors for sustainable sourcingAs HusCompagniet continues to explore sustainable ma-terials for our homes, sustainable sourcing will continue to be an area of focus and collaboration with a view to further improving supply availability and traceability. In 2022, we have increased our efforts to improve transparency through a focus on EPDs (Environmental Product Declarations) of the materials and products we use for our houses.When working with suppliers and subcontractors, HusCom-pagniet requires compliance with all applicable regulation. All purchasing agreements with suppliers and subcontrac-tors include a requirement to comply with the Supplier Code of Conduct, which includes elements of human and labour rights, anti-corruption, and environmental sustainability. We encourage our suppliers to further promote its principles within their own organisations and supply chains. Non-com-pliance, or where a supplier or subcontractor demonstrates a lack of improvement, may result in termination of the busi-ness relationship. Our construction managers monitor our subcontractors and a list of sanctions for non-compliance has been created.All new contracts as well as renewals of existing contracts require suppliers to sign our Supplier Code of Conduct.HusCompagniet negotiates the purchase of key materials categories directly with manufacturers, centralising a large portion of our procurement and enabling long-term relations with key materials suppliers. The centralised procurement somewhat mitigates the risk of business ethics breaches. Additionally, substantial purchasing decisions are made at the relevant authority level, and approval processes have been put in place. Supplier agreements above a specific threshold must be approved by our Executive Management or Group procurement.Smaller materials categories are sourced from builder merchants, and subcontractors used for the construction process are typically managed locally to enable flexibility. We are aware that flexible and decentralised decision mak-ing have the downside of potential increased risk in terms of business ethics.Environmental responsibilityOur contribution is to further increase the focus on the full life cycle of a home, and the integration of circular thinking and environmental stewardship. We aim to further under-stand and integrate environmental and biodiversity consid-erations into our business model, from the ecosystems of the land we build on, to our construction processes and materi-als. This will include, for instance, increasing the re-use and recyclability of our building materials, and improving waste and water management on our construction sites. Materials used for HusCompagniet houses are mainly locally sourced, reducing the environmental impact of transportation. Respect for labour rights and human rights HusCompagniet is committed to respecting human rights and labour rights as set out in the Universal Declaration of Human Rights and the fundamental Conventions of the International Labour Organization (ILO). We work to advance these principles both in our own organisation and among our business partners, subcontractors, and suppliers. Our Sus-tainability Policy, internal Standards of Business Conduct, and Supplier Code of Conduct reflect our commitment to the UN Global Compact (UNGC) and its principles related to human rights and labour rights, among other areas. We respect our employees' right to freedom of association and collective bargaining.The construction industry in general has been scrutinised for labour issues, particularly related to vulnerable groups, such as migrant workers. This is a dilemma across geogra-phies because the legal minimum wage may not necessarily reflect a living wage. We have minimum wage requirements integrated into our subcontractor agreements, and have contractually secured our right to audit. HusCompagniet does not tolerate social dumping and will terminate subcon-tractors who engage in this practice, and we have a close positive dialogue with unions on these matters.Going forward, we will continue to work with our suppliers and subcontractors to promote sound working conditions and protect human and labour rights throughout HusCom-pagniet’s value chain. In 2022, no breaches of our Supplier Code of Conduct related to human rights were identified.Taxonomy-eligibility and alignment The European Commission adopted on 21 April 2021 an ambitious and comprehensive package of measures to help improve the flow of capital towards sustainable activities across the European Union. By enabling investors to re-ori-ent investments towards more sustainable technologies and businesses, these measures will be instrumental in making Europe climate neutral by 2050. They will make the EU a global leader in setting standards for sustainable finance.Accounting practiceEnvironmental objectivesFor the HusCompagniet Group, the following two economic activities have been identified as relevant: 7.1. Construction of buildings and 6.5 Transport by motorbikes, passenger cars and light commercial vehicles have been assessed as contributing to environmental objective 1, climate change mitigation. In the context of the HusCompagniet Group, this environmental objective has been assessed as most relevant to report on. Taxonomy eligibility is characterised as an economic activity that is covered by the taxonomy regulations delegated acts. Whether an activity is taxono-my-eligible or not says nothing about the sustainability of that activity. To be characterized as sustainable, the activity has to be aligned.Restatement of 2021 Taxonomy eligibilityIn the 2021 annual report, HusCompagniet Group report-ed taxonomy eligibility percentages for OpEx and CapEx based on an allocation key of FTEs that could be allocated to activity 7.1 Construction of new buildings. The EU-taxonomy is continuously developing and so is the interpretation. For 2022, allocation keys have not been used – see KPI -OpEx and KPI – CapEx for accounting policy and calculation meth-od, which we expect to be using from now on.Our accounting policies for the calculations are always based on our best interpretation, using external advisory, of the EU taxonomy regulation and delegated acts as well as the currently available guidelines from the European Commission and from Green Building Council Denmark. The latter is a non-profit membership organisation working to promote sustainability in the building industry and has re-cently published a first version of guidance on the taxonomy, developed among others in close dialogue with the industry and Climate Positive European Alliance.KPI - TurnoverNumerator – EligiblityTaxonomy-eligible turnover is calculated as the turnover from the taxonomy-eligible activity stated below, which is generated from one of the activities presented below. • Activity 7.1 All revenue streams are related to the con-struction of a house. Approx. 80% is constructed on third party land. For the remaining part, land is owned by HusCompagniet. In the sales process land and house will be divided into two contracts for the private custom-er. Yet, HusCompagniet does not speculate in land and will solely sell land in connection with construction of a house. Therefore, it is assessed that revenue stream from land is within scope 7.1. and thus, taxonomy eligible.Numerator – AlignmentTaxonomy-alignment turnover is calculated as the portion of the net turnover from the taxonomy-eligible activity stated below, which can be classified as taxonomy-aligned and comply with the screening criteria in the annex to the delegated act.Due to lacking data quality, we report 0% on taxonomy-align-ment on activity 7.1 construction of new buildings. We expect to report alignment for selected semi-detached projects for the financial year 2023 and report alignment for the remain-ing in 2024. We expect to report alignment on environmental objective 1 (climate change mitigation). To do this, we plan to have Green Building Council Denmark do taxonomy screenings on a range of detached projects as input to the assurance of our reporting.2022 Turnover  OPEX  CAPEXTaxonomy-eligible activities7.1  Construction of new buildings 100% 75% 64%6.5   Transport by motorbikes, passenger cars and light commercial vehicles  0% 0%  12%Taxonomy-non-eligible activities or activities not coveredNon-eligible activities  0%  25%  24%Sum of Activities  100%  100%  100%For objective 1, the technical screening criteria is an energy performance of at least 10% better than NZEB (Nearly Zero-Emission Building). We expect that approximately 30% of our revenue will be aligned, based on the proportion of houses built in 2022 that have an energy performance above this threshold. We are working on putting procedures and processes in place to secure sufficient data to document taxonomy alignment for all five DNSH (Do No Significant Harm) criteria that apply to the construction of buildings and the compliance with minimum social safeguards. More spe-cifically, regarding the DNSH criteria that apply to the kind of buildings we build: • Climate change adaptation: We expect to be aligned. • Sustainable and protection of water and marine resourc-es: We expect to be aligned. • Transition to circular economy: We expect to be aligned and are working on securing data, among others to docu-ment reuse and recycling percentage on every construc-tion site. • Pollution prevention and control: Annex XVII to directive nr. 1007/2006 is not yet finalised. • Protection and restoration of biodiversity and ecosys-tems: We expect to be aligned.Denominator – EligibilityNet turnover as shown in note 2.1 Segment information.KPI - OPEXNumerator – EligiblityTaxonomy-eligible OpEx is calculated as OpEx related to the following economic activities.Numerator – AlignmentTaxonomy-aligned OpEx is calculated as the proportion of the eligible-OpEx from taxonomy-eligible activities stated below, which can be classified as taxonomy-aligned and comply with the screening criteria in the annex to the dele-gated act.Due to insufficient data, we report 0% taxonomy alignment for the activity.Denominator – EligibilityDirect non-capitalised costs that relate to: Costs incl. main-tenance for short-term leased cars, costs relating to building renovation measures, costs related to maintenance and repair, and any other direct expenditures relating to day-to-day servicing of assets of property, plant and equipment including wages for employees servicing data centres.Denominator – AlignmentThe taxonomy-eligible OpEx as defined in the delegated act, related to the relevant activities. Not aligned due to insuffi-cient data quality.Double CountingThere is no risk of double counting as all eligible expenses are related to activity 7.1 construction of new buildings.KPI - CAPEXNumerator – EligiblityTaxonomy-eligible CapEx is calculated as CapEx related to the following economic activities.Numerator – AlignmentTaxonomy-aligned CapEx is defined as the taxonomy-eligi-ble CapEx, which can be classified as being in compliance with the screening criteria in the annex to the delegated act. Due to insufficient data we report 0% alignment on both activity 7.1 construction of new buildings and activity 6.5 Transport by motorbikes, passenger cars and light commer-cial vehicles.Denominator – EligibilityCapEx as shown in Note 4.1 Goodwill and Intangible assets and note 4.3 Property, plan and equipment and right-of-use assetsAll CapEx additions are assessed individually. The Taxono-my-eligible share of investments primarily relates to 7.1. con-struction of new buildings. Items include, but are not limited to, additions of production facility equipment, investments in development or IT.Denominator – AlignmentThe taxonomy-eligible CapEx as defined in the delegated act, related to the relevant activities. Not aligned due to insufficient data quality.Double CountingThere is no risk of double counting as CapEx allocated to activity 7.1 or 6.5 are not related to both activities.</mrv:StatementOfCorporateSocialResponsibility>
   <mrv:StatementOfTargetFiguresAndPoliciesForTheUnderrepresentedGender contextRef="ctx-1" id="pp-value-73-1" xml:lang="en">Diversity &amp; inclusionThis section includes our statutory reporting on diversity &amp; inclusion. At HusCompagniet, we strive to provide a diverse and inclusive work environment with equal opportunity for people of all ages, genders, nationalities, sexual orientation, religions, political opinions and abilities.The construction sector has traditionally been a male-dom-inated industry, which poses a challenge for the industry and for HusCompagniet. The starting point for improving the gender diversity of our workforce is to monitor the demo-graphics of our employees with the aim to track and improve gender balance over time. People are encouraged to apply for positions in HusCom-pagniet, irrespective of gender, age, nationality, sexual orientation, religion, political opinions or ethnicity, and decisions regarding recruitment, promotion and dismissal are not influenced by these. Our employees have equal opportunities for career development and management ambitions, which are discussed as part of the yearly perfor-mance reviews. In 2022, we had 40% of the underrepresented gender in management, and we aim to maintain female representation in management at Group level at no lower than 30% in 2030. Diversity in managementThe tone set at the top management is important, not least when it comes to diversity and inclusion. In 2022, females comprised 33% of our Board of Directors, which is in line with our target and constitutes an equal distribution of gen-der according to the Danish Business Authority's guidelines on equal gender distribution on the Board of Directors. It is our ambition over time to maintain equal gender distribu-tion at the Board of Directors going forward and retain our 2025 and 2030 target of two out of six female directors. On other levels of management, HusCompagniet currently has a female representation at group level of 40% among exec-utive management and their direct reports with employee responsibility against 21% in 2021. The increase in female representation is caused by a reduction in Executive Man-agement's direct reports due to organisational changes. The number of females in other management levels has, howev-er, remained unchanged in 2022. Organisational changes in 2023 have caused a reduction in female representation in other management levels causing a drop in representation of the underrepresented gendder in management at Group level. It is HusCompagniets ambition to continue to focus on gender diversity and to increase female representation on other management levels to ultimately reach equal rep-resentation at group level. HusCompagniet maintain previ-ously communicated targets of having 25% females in other management levels by 2025 and 30% by 2030. </mrv:StatementOfTargetFiguresAndPoliciesForTheUnderrepresentedGender>
   <mrv:StatementOfPolicyForDataEthics contextRef="ctx-1" id="pp-value-83-1" xml:lang="en">Data Ethics Policy  Pursuant to section 99d of the Danish Financial Statement act, C and D sized companies must account for their data ethics policy and work related thereto. Our data ethics policy was set in place in 2021 and continues to guide our process-es and use of data. The policy regulates how we process and use the information and personal data we keep, which are necessary to service our customers, complete our building activities and ensure transparency towards our investors. Our data ethics policy is developed according to the data ethics value compass.It is key to us, that our customers and other stakeholders can rely on us and the way we process data. Our customers are primarily private individuals, and we use personal data to ensure our customers the best possible service. All data are processed with great care and confidentiality, also in our collaboration with our suppliers. Employees, who due to their work have access to data, are trained in our data ethics and data processing standards. HusCompagniet is continu-ously implementing and updating IT tools and systems, and we maintain a strict access control to limit security risks. Ex-ternal partners are only allowed access to data for a limited period and only related to the work-related need.</mrv:StatementOfPolicyForDataEthics>
   <gsd:NameOfReportingEntity contextRef="ctx-1" xml:lang="en">HusCompagniet A/S</gsd:NameOfReportingEntity>
   <mrv:CorporateGovernanceReport contextRef="ctx-1" id="pp-value-102-1" xml:lang="en">Corporate governanceHusCompagniet has a two-tier management structure comprising the Board of Directors and the Executive Management. There are no overlapping members. The Board of Directors is responsible for the overall and strategic management and proper organisation of the Group’s business and operations. On behalf of the shareholders, the Board of Directors supervises HusCompagniet's organisation, day-to-day management, and results.The Board of Directors sets guidelines on the day-to-day re-sponsibilities and obligations of the Executive Management. The Board of Directors and the Executive Management further assess HusCompagniet’s business processes, the or-ganisation, strategy, risks, business objectives and controls. A set of rules of procedure governs the work of HusCom-pagniet’s Board of Directors. These rules are reviewed annu-ally by the Board of Directors and updated as necessary.Board of DirectorsThe Board of Directors consists of six members and has appointed a Chairperson and a Vice Chairperson. All six members of the Board of Directors are at the end of 2022 regarded as independent. The Board of Directors represents broad international business experience and skills consid-ered relevant to HusCompagniet. The Board of Directors evaluates its work on an annual basis, and determines once a year the qualifications, experience and skills needed for the Board of Directors to best perform its tasks. All board members are up for election at each Annual General Meeting. The Board of Directors meets five times a year and holds extraordinary meetings when required. In 2022, the Board of Directors held 9 meetings of which 3 were extraor-dinary and one was a strategy meeting. The Board’s annual wheel covers all essential areas of the business, including sustainability and climate. The Board attendance rate for 2022 is included in our table shown on page 69 and our ESG table on page 57.Composition and competencies  At the Annual General Meeting on 8 April 2022, Claus V. Hemmingsen, Anja B. Eriksson, Ylva Ekborn, Mads Munkholt Ditlevsen, Bo Rygaard and Stig Pastwa were re-elected as members of the Board. The Board represents comprehen-sive experience and competencies, which is considered cru-cial for the further realisation of HusCompagniet’s strategic targets. The Board’s competencies are further described on page 72. Every year, the Board of Directors conducts a self-evaluation and will engage external assistance for the evaluation at least every third year. In 2022, the annual self-evaluation of the Board of Directors was performed with external advisor assistance. All board members participated in the evaluation along with Executive Management and other stakeholders. The self-evaluation consisted of conversations by the advisor with each member of the Board of Directors as well as each member of the Executive Management. Overall the evaluation proved a well-functioning Board and appropriate relations between Board and Executive Management. The self-evaluation was done with a particular focus on competences relative to the company’s strategy and purpose and showed that the composition of the Board of Directors, including relevant competences, to a large extent matches what the Board of Directors considers necessary to best perform its tasks, including digital transformation, business-to-business experience, executive experience and sales experience within the industry, and knowledge of the Swedish market. The Board of Directors has, however, assessed that the board can benefit from strengthening its competences within business-to-consumer sales and marketing, industry supplier experience as well as increased building indus-try knowledge as well as  production and manufacturing experience. The Board of Directors will reflect this in the board composition being proposed at the Annual General Meeting. The self-evaluation furthermore showed that the Board has functioned efficiently and that there is an open, challenging and transparent dialogue between the Board of Directors and the Executive Management. The Board of Directors can increase benefit from the board committees work by strengthening their function as vehicles for framing the discussions in the Board of Directors. The Board will use the feedback from the self-evaluation to further develop the framework for its activities in the coming year.Board Chairpersonship and committeesThe Board of Directors has established a Chairpersonship consisting of the Chairperson and the Vice Chairperson. They ensure a regular dialogue with the management. Remuneration Audit  &amp; Nomination Election Board MeetingsCommittee  MeetingsCommittee  MeetingsperiodClaus V. Hemmingsen9/9 3/3 1 yearAnja B. Eriksson9/9 5/5 1 yearStig Pstw8/9 5/5 1 yearYlva Ekborn9/9 5/5 3/3 1 yearMads Munkholt Ditlevsen7/9 1 yearBo Rgrd8/9 3/3 1 yearAttendance rate  93% 100% 100%In order to support the Board of Directors, HusCompagniet has established an Audit Committee and a Remuneration &amp; Nomination Committee. The purpose of the Board Commit-tees is to report and make recommendations to the Board of Directors on committee related matters. The overall purpos-es and activities of the Audit Committee and Remuneration &amp; Nomination Committee, respectively, can be found here: https://investors.huscompagniet.com/governance/committees/RemunerationIn our policies and reports, we aim to be transparent in terms of our structure and size. HusCompagniet has adopted a general remuneration structure for the Board of Directors and Executive Management, where targets are closely aligned with the company’s strategy and typically include targets relating e.g., to EBITDA, number of houses sold and delivered as well as ESG-related targets as deemed relevant by the Board of Directors.CEO pay ratio and gender pay ratios are included in our ESG disclosures (see page 57). Our Remuneration Policy is availa-ble here: https://investors.huscompagniet.com/governance/committees/. The remuneration report for 2022 can be found here: https://investors.huscompagniet.com/files/Govern-ance-documents/RemunerationReport2022.pdf.All current board members have in 2022 received com-pensation fee. Mads Munkholt Ditlevsen has forfeited his compensation fee.Reporting on Corporate GovernanceHusCompagniet is committed to complying with Corporate Covernance standards and creating transparency around the company’s affairs to maintain the trust of the company’s shareholders and stakeholders. HusCompagniet reports on compliance with the Committee on Corporate Governance’s recommendations on Corporate Governance and the Board of Directors reviews the recommendations in force on a reg-ular basis and at least once a year. The Board of Directors and the Executive Management share the committee's views in all material respects. HusCompagniet deviates from just one of the recommendations as the company publishes trad-ing statements for Q1 and Q3 instead of quarterly reports. We believe trading statements will provide shareholders and other relevant stakeholders with sufficient information on the company’s financials. HusCompagniet’s position on the recommendations on Corporate Governance as well as an explanation for the recommendation that HusCompagniet has opted to deviate from, can be found in the Corporate Governance statement available here: https://investors.huscompagniet.com/files/Governance-documents/Corporat-eGovernanceStatement2022.pdf.Business policiesHusCompagniet has a set of policies to govern and further guide our overall efforts towards responsible business conduct and governance. The relevant policies are available here: https://investors.huscompagniet.com/governance/gov-ernance-documents/  General meetingThe next Annual General Meeting will be held on 14 April 2023 at 10.00 (CEST). The General meeting will be a physical meeting and held at Bech Bruun Advokatpartnerselskab, Langelinie Allé 35, 2100 Copenhagen, Denmark. In addition, the Annual General Meeting will be live streamed.  </mrv:CorporateGovernanceReport>
   <mrv:StatementOfTheDiversityPolicies contextRef="ctx-1" id="pp-value-108-1" xml:lang="en">promoting diversity and equal opportunities as we believe that diversity leads to better performance and decision making. The construction sector has traditionally been and still is a male-dominated sector, which poses a challenge for both HusCompagniet and other companies within the indus-try. Yet, we aim to reach our ambitious targets and we are compliant with regulatory guidelines. At Board level, we are currently at our previously communicated 2030-target that a minimum of two out of six directors should be females as our Board of Directors in 2022 consists of two female and four male directors. The composition of the Board of Directors constitutes an equal distribution of gender as defined in the Danish Business Authority’s guidelines on equal gender dis-DiversityHusCompagniet strives towards diversity in the composi-tion of the Board of Directors and executive management, including gender, international experience, qualifications, and competencies. HusCompagniet is strongly focused on tribution on the Board of Directors and it is our ambition to maintain this going forward. The Board of Directors contin-ues to monitor diversity at Board level and in Executive Man-agement. Guided by the principles of our diversity policy, the Board of Directors ensures that any change in management is based on presentation of a diverse panel of candidates, both in terms of experience, competencies and gender. </mrv:StatementOfTheDiversityPolicies>
   <cmn:DescriptionOfMemberOfSupervisoryBoard contextRef="ctx-29" id="pp-value-116-1" xml:lang="en">Member since: July 2020. Term ends: AGM 2023.Born: 1974 Gender: Female  Nationality: DanishBoard meeting participation: 9/9Committee participation: Audit Committee 5/5Position: Vice President, ATP – Long Term Danish CapitalEducation:M.Sc. in Applied Economics and Finance, B.Sc. International Business from Copenhagen Business School, Young Managers Programme and Negotiation Dynamics from INSEAD Business School and High Performance Boards pro-gramme at IMD. Other management positions:Chair: M.J. Eriksson Holding A/S, Anders Nielsen &amp; Co. A/S. Board member: M.J Eriksson A/S, Pihl Holdings A/S, Veo Technologies A/S, Ferrosan Medical Devices A/S, Owner and director F5 Invest ApS. Competencies:Experience from leading roles in the financial and construction industries, with a strong commercial focus, having driven change processes, M&amp;A transactions, sale and HSSE.Holdings*33,326</cmn:DescriptionOfMemberOfSupervisoryBoard>
   <cmn:DescriptionOfMemberOfSupervisoryBoard contextRef="ctx-30" id="pp-value-117-1" xml:lang="en">Member since: April 2021. Term ends: AGM 2023.Born: 1967  Gender: Male Nationality: DanishBoard meeting participation: 8/9Committee participation: Audit Committee 5/5Position: Professional Board member, Advisor and InvestorEducation:Graduate Diploma, HD (r) Business Administration, Financial and Management Accounting from Copenhagen Business School. PED from IMD Business School and ADP from London Business SchoolOther management positions:Member of Board of representatives: Hedeselskabet. Board member: SP Hold-ing 2015 ApS and CC investment II ApSCompetencies:Commercial and managerial experience, including M&amp;A, ESG and real estate with a strong financial background as both CFO and CEO from executive roles and non-executive directorships in several large Danish and international cor-porations and institutions, both listed and private.Holdings*8,540 changed from 6,237 at 31 December 2021</cmn:DescriptionOfMemberOfSupervisoryBoard>
   <cmn:DescriptionOfMemberOfSupervisoryBoard contextRef="ctx-28" id="pp-value-115-1" xml:lang="en">Member since: May 2020. Term ends: AGM 2023.Born: 1962 Gender: Male Nationality: DanishBoard meeting participation: 9/9Committee participation: Remuneration &amp; Nomination Committee 3/3Position: Non-executive board-member Education:Management Programmes, London Business School and Cornell University; Exec. MBA, IMD; International Directors Programme, INSEADOther management positions:Chair: DFDS A/S, Innargi A/S. Board member: Noble Corporation plc , A.P. Moller Holding A/S, A.P. Moller og Hustru Chastine Mc-Kinney Mollers Fond til almene Formaal, Den A.P. Mollerske Stottefond, Bacher Workwear A/S, Maersk Mc-Kinney Moller Center for Zero Carbon Shipping, Global Maritime Foundation, Det Forenede Dampskibs-Selskabs Jubilaeumsfond, Owner and director of CVH Consulting ApS.Competencies:Competencies and experiences particularly from within the international maritime and offshore drilling industries, incl. M&amp;A, commercial and general management, op-erational expertise, strategic planning, HSSE &amp; Sustainability, and regulatory affairs.Holdings*65,499, changed from 55,044 at 31 December 2021</cmn:DescriptionOfMemberOfSupervisoryBoard>
   <cmn:DescriptionOfMemberOfSupervisoryBoard contextRef="ctx-31" id="pp-value-118-1" xml:lang="en">Member since: July 2019. Term ends: AGM 2023.Born: 1975 Gender: Female Nationality: Swedish Board meeting participation: 9/9Committee participation: Remuneration &amp; Nomination Committee 3/3  and Audit Committee 5/5Position: CEO PostNord Strålfors Group &amp; member of Postnord Group Leadership TeamEducation:M.Sc. in Economics and Business Administration, Stockholm School of EconomicsOther management positions:Chair: Postnord Stralfors Oy, PostNord Stralfors AS. Board member: PIHR Competencies:Nordic CEO with experience form both B2C and B2B companies. Focus on strategy, operational excellence, digital transformation, business development and brand &amp; communication.Holdings*20,247</cmn:DescriptionOfMemberOfSupervisoryBoard>
   <cmn:DescriptionOfMemberOfSupervisoryBoard contextRef="ctx-32" id="pp-value-119-1" xml:lang="en">Member since: August 2015. Term ends: AGM 2023.Born: 1976 Gender: Male Nationality: Danish Board meeting participation: 7/9Position: Partner at EQT Partners, Head of EQT Partners DenmarkEducation:M.Sc. in Finance &amp; Accounting, Copenhagen Business SchoolOther management positions:Deputy Chair: Banking Circle, Oterra A/S, Oterra Operations ApS, Fonden  Human Practice Foundation Board member: Brancheforeningen for Aktive Ejere i Danmark, 3Shape Holding A/S. Owner and director of HEFAX ApS, Certoh ApS, Xela ApS and Lefix ApS.Competencies:Experienced within Private Equity, M&amp;A, investments, operations and financing working out of Copenhagen and Hong Kong.Holdings20,000, changed from 0 at 31 December 2021</cmn:DescriptionOfMemberOfSupervisoryBoard>
   <cmn:DescriptionOfMemberOfSupervisoryBoard contextRef="ctx-33" id="pp-value-120-1" xml:lang="en">Member since: April 2021. Term ends: AGM 2023.Born: 1965 Gender: Male  Nationality:DanishBoard meeting participation: 8/9Committee participation: Remuneration &amp; Nomination Committee 3/3Position: CEO, Dreyers FoundationEducation:M.Sc in Economics and Business Administration, Copenhagen Business School Other managerial positions:Chairperson: Netcompany Group A/S, Skamol A/S, Sovino Brands A/S, KFI Erhvervsdrivende Fond, KV Fonden, Marie &amp; M.B. Richters Fond. Deputy Chair: Statens Ejendomsselskab A/S. Board member: Fondenes VidenscenterCompetencies:Managerial experience in industry-related areas, including real estate and de-velopment, both in Denmark and internationally and experience as both execu-tive and chairperson in listed companies. Also extensive managerial  experience within consumer goods.HoldingsNo shares</cmn:DescriptionOfMemberOfSupervisoryBoard>
   <cmn:DescriptionOfMemberOfExecutiveBoard contextRef="ctx-34" id="pp-value-121-1" xml:lang="en">Born: 1971 Gender: MaleNationality: DanishYear of first employment: 2009 In current position since: 2020Education:Diploma in Economics and Law from Finansforbundet (Copenhagen)Previous experience:MD NCC Enfamiliehuse, Head of sales Eurodan-huse and various leadership positions within HusCompagniet.Holdings*283,861 changed from 261,861 at 31 December 2021</cmn:DescriptionOfMemberOfExecutiveBoard>
   <cmn:DescriptionOfMemberOfExecutiveBoard contextRef="ctx-35" id="pp-value-122-1" xml:lang="en">Born: 1977Gender: MaleNationality: DanishYear of first employment: 2019In current position since: 2019Education:M.Sc. in Auditing and Accounting and M.Sc. in Economics and Business Administration, Copenhagen Business SchoolPrevious experience:Maersk, Sadolin &amp; Albæk, Deloitte, PwCHoldings*129,304</cmn:DescriptionOfMemberOfExecutiveBoard>
   <fsa:AverageNumberOfEmployees contextRef="ctx-1" decimals="0" unitRef="pure">518</fsa:AverageNumberOfEmployees>
   <fsa:AverageNumberOfEmployees contextRef="ctx-27" decimals="0" unitRef="pure">455</fsa:AverageNumberOfEmployees>
   <sob:StatementByExecutiveAndSupervisoryBoards contextRef="ctx-1" id="pp-value-302-1" xml:lang="en">The Board of Directors and the Executive Board have today discussed and approved the annual report of HusCom-pagniet A/S for 2022.The annual report has been prepared in accordance with International Financial Reporting Standards as adopted by the EU and additional requirements of the Danish Financial Statements Act.In our opinion, the consolidated 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 2022 and of the results of their operations and cash flows for the financial year 1 January – 31 December 2022.Further, in our opinion, the Management's review gives a fair review of the development in the Group's and the Parent Company's activities and financial matters, results for the year, cash flows and financial position as well as a descrip-tion of material risks and uncertainties that the Group and the Parent Company face.We recommend that the annual report be approved at the Annual General Meeting.</sob:StatementByExecutiveAndSupervisoryBoards>
   <sob:PlaceOfSignatureOfStatement contextRef="ctx-1" id="pp-value-303-1" xml:lang="en">Virum,</sob:PlaceOfSignatureOfStatement>
   <sob:DateOfApprovalOfAnnualReport contextRef="ctx-1" id="pp-value-304-1">2023-03-09</sob:DateOfApprovalOfAnnualReport>
   <cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx-34" id="pp-value-290-1" xml:lang="en">Mrtin Rvn-Niesen</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
   <cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx-35" id="pp-value-291-1" xml:lang="en">Mds Dehsen Winther</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
   <cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx-34" id="pp-value-292-1" xml:lang="en">Group CEO</cmn:TitleOfMemberOfExecutiveBoard>
   <cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx-35" id="pp-value-293-1" xml:lang="en">Group CFO</cmn:TitleOfMemberOfExecutiveBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-28" id="pp-value-294-1" xml:lang="en">Cus V. Hemmingsen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-29" xml:lang="en">Anj B. Eriksson</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx-28" xml:lang="en">Chairperson</cmn:TitleOfMemberOfSupervisoryBoard>
   <cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx-29" xml:lang="en">Vice chairperson</cmn:TitleOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-30" id="pp-value-298-1" xml:lang="en">Stig Pstw</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-31" id="pp-value-299-1" xml:lang="en">Yv Ekborn</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-32" xml:lang="en">Mds Munkhot Ditevsen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-33" xml:lang="en">Bo Rgrd</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements contextRef="ctx-1" xml:lang="en">To the shareholders of HusCompagniet A/S</arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements>
   <arr:OpinionOnAuditedFinancialStatements contextRef="ctx-1" id="pp-value-306-1" xml:lang="en">We have audited the consolidated financial statements and the parent company financial statements of HusCom-pagniet A/S for the financial year 1 January – 31 December 2022, which comprise income statement, statement of other comprehensive income, balance sheet, statement of cash flows, statement of changes in equity and notes, including accounting policies, for the Group and the Parent Company. The consolidated financial statements and the parent com-pany financial statements are prepared in accordance with International Financial Reporting Standards as adopted by the EU and additional requirements of the Danish Financial Statements Act. In our opinion, the consolidated 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 2022 and of the results of the Group's and the Parent Company's operations and cash flows for the financial year 1 January – 31 December 2022 in accordance with International Financial Reporting Standards as adopted by the EU and additional requirements of the Danish Financial Statements Act.Our opinion is consistent with our long-form audit report to the Audit Committee and the Board of Directors.</arr:OpinionOnAuditedFinancialStatements>
   <arr:DescriptionOfQualificationsOfAuditedFinancialStatements contextRef="ctx-1" id="pp-value-307-1" xml:lang="en">We conducted our audit in accordance with International Standards on Auditing (ISAs) and additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the "Auditor's responsibilities for the audit of the consolidated financial statements and the parent company financial state-ments" (hereinafter collectively referred to as "the financial statements") section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.IndependenceWe are independent of the Group in accordance with the International Ethics Standards Board for Accountants' Inter-national Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have fulfilled our other ethical responsibil-ities in accordance with these requirements and the IESBA Code. To the best of our knowledge, we have not provided any prohibited non-audit services as described in article 5(1) of Regulation (EU) no. 537/2014.Appointment of auditorSubsequent to HusCompagniet A/S being listed on Nasdaq Copenhagen, we were initially appointed as auditors of HusCompagniet A/S on 12 April 2021. We have been reap-pointed annually by resolution of the general meeting for a total consecutive period of two years up until the financial year 2022.</arr:DescriptionOfQualificationsOfAuditedFinancialStatements>
   <arr:KeyAuditMattersAudit contextRef="ctx-1" id="pp-value-308-1" xml:lang="en">Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the financial statements for the financial year 2022. These mat-ters were addressed during our audit of the financial state-ments as a whole and in forming our opinion thereon. We do not provide a separate opinion on these matters. For each matter below, our description of how our audit addressed the matter is provided in that context. We have fulfilled our responsibilities described in the "Audi-tor's responsibilities for the audit of the financial statements" section, including in relation to the key audit matters below. Accordingly, our audit included the design and performance of procedures to respond to our assessment of the risks of material misstatement of the financial statements. The results of our audit procedures, including the procedures performed to address the matters below, provide the basis for our audit opinion on the financial statementsKey audit matter Description of key audit matter Recognition and Accounting policies and information regarding revenue recognition related to construction contracts are measurement of construction disclosed in notes 2.1, 2.7, 2.8 and 3.2 to the consolidated financial statements. contracts and related revenue The Group’s main activity and revenue comes from sale and delivery of detached and semi-detached recognitionhouses under construction contracts with private customers or professional investors, where the delivery of the houses typically extends over a longer period. Due to characteristics of the projects and in accordance with the accounting policies, HusCompagniet recognizes and measures revenue on these construction contracts over time based on input-based accounting methods as the performance obligation usually is considered fulfilled throughout the construction.Recognition and measurement of construction contracts involve estimates and judgments by Management to assess percentage-of-completion at the balance sheet date, cost of completion of the houses, including costs related to warranties or disputes. Changes to these accounting estimates during the construction phase, can have a material impact on revenue, production costs and results.Therefore, we consider recognition of construction contracts as a key audit matter in respect of the financial statements.Valuation of goodwill Accounting policies and information regarding goodwill and impairment testing of goodwill are disclosed in notes 4.1, 4.4, 4.5 and 4.6 to the consolidated financial statements.Valuation of goodwill is significant to our audit due to the carrying value of goodwill and the risks related to Management’s assessment of the future timing and amount of cash flows that are discounted to project the recoverability of the carrying amount of goodwill. Management’s assessment is subject to uncertainty related to their expectations of the negative impact on future building activity from macroeconomic conditions, interest rates and inflation. Management applies significant assumptions when estimating the future sales volumes, sales prices, margins, discount rates and growth rates when projecting the recoverability of the carrying amount of goodwill as well as judgement when defining cash-generating units. Therefore, we consider valuation of goodwill as a key audit matter in respect of the financial statements.How our audit addressed the key audit matterOur audit procedures included:•  Assessment of the assumptions and methodology applied by Management to calculate the sales value of construction contracts and recognition and accrual of revenue. We have considered the approach taken by Management, assessed key assumptions and obtained corroborative evidence for the explanations provided by comparing key assumptions to past performance, contract estimate, our past experience of similar transactions and Management’s forecast supporting the calculated sales value.•  Analysis of selected contracts to assess and compare recognised revenue, including any contract modifications, and production cost to contract estimate, current project economy and the latest forecast of cost to complete, including any costs related to warranties or disputes.•  Discussions of the status of houses in progress with members of Management, the finance function and project management.•  For the purpose of assessing dispute and/or litigation, we obtained letters of attorney from the Group’s external and internal attorneys and discussed with members of Management and the finance function cases subject to disputes to provide an assessment hereof.•  Focused on ensuring that policies and processes for performing management estimates have been applied consistently to uniform contracts and in accordance with previous years.Our audit procedures in relation to valuation of goodwill included:•  Assessment of the discounted cash flow models prepared by Management, including consideration of the cash-generation units defined by Management and the valuation methodology applied. We evaluated the factors used by Management in their definition of cash-generating units.•  Testing of the mathematical accuracy of the discounted cash flow models prepared by Management to project the recoverability of the carrying amount of goodwill. We reconciled the applied estimates of future cash flows to the most recent approved Management budgets to ensure internal consistency.•  Evaluating the key assumptions and input data applied by Management based on our knowledge of the business and industry together with available supporting evidence such as available budgets and externally observable market data related to market volumes, inflation rates and interest rates etc.•  Evaluating the sensitivity analysis on the assumptions applied in the valuations prepared by management in note 4.4 to the consolidated financial statement.</arr:KeyAuditMattersAudit>
   <arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements contextRef="ctx-1" id="pp-value-311-1" xml:lang="en">Statement on the Management's reviewManagement is responsible for the Management's review.Our opinion on the financial statements does not cover the Management's review, and we do not express any form of assurance conclusion thereon.In connection with our audit of the financial statements, our responsibility is to read the Management's review and, in doing so, consider whether the Management's review is materially inconsistent with the financial statements or our knowledge obtained during the audit, or otherwise appears to be materially misstated. Moreover, it is our responsibility to consider whether the Management's review provides the information required under the Danish Financial Statements Act. Based on the work we have performed, we conclude that the Management's review is in accordance with the financial statements and has been prepared in accordance with the requirements of the Danish Financial Statements Act. We did not identify any material misstatement of the Management's review. </arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements>
   <arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements contextRef="ctx-1" id="pp-value-312-1" xml:lang="en">Management's responsibilities for the financial statementsManagement is responsible for the preparation of consol-idated financial statements and parent company financial statements that give a true and fair view in accordance with International Financial Reporting Standards as adopted by the EU and additional requirements of the Danish Financial Statements Act and for such internal control as Management determines is necessary to enable the preparation of finan-cial statements that are free from material misstatement, whether due to fraud or error.In preparing the financial statements, Management is re-sponsible for assessing the Group's and the Parent Com-pany's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting in preparing the financial statements unless Management either intends to liquidate the Group or the Parent Company or to cease operations, or has no realistic alternative but to do so.</arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements>
   <arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed contextRef="ctx-1" id="pp-value-314-1" xml:lang="en">Auditor's responsibilities for the au-dit of the financial statementsOur objectives are to obtain reasonable assurance as to whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasona-ble assurance is a high level of assurance, but is not a guar-antee that an audit conducted in accordance with ISAs and additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements.As part of an audit conducted in accordance with ISAs and additional requirements applicable in Denmark, we exercise professional judgement and maintain professional scepti-cism throughout the audit. We also: • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, mis-representations or the override of internal control. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are ap-propriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group's and the Parent Company's internal control. • Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management. • Conclude on the appropriateness of Management's use of the going concern basis of accounting in preparing the financial statements and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group's and the Parent Company's ability to continue as a going concern. If we conclude that a material un-certainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group and the Parent Company to cease to continue as a going concern. • Evaluate the overall presentation, structure and contents of the financial statements, including the note disclo-sures, and whether the financial statements represent the underlying transactions and events in a manner that gives a true and fair view. • Obtain sufficient appropriate audit evidence regard-ing the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.We communicate with those charged with governance re-garding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may rea-sonably be thought to bear on our independence, and where applicable, actions taken to eliminate threats or safeguards applied.From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the consolidated financial state-ments and the parent company financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor's report unless law or regulation precludes public disclosure about the matter.</arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed>
   <arr:AuditorsReportOnXbrlTagging contextRef="ctx-1" id="pp-value-318-1" xml:lang="en">Report on compliance with the ESEF Regulation As part of our audit of the Consolidated Financial Statements and Parent Company Financial Statements of HusCom-pagniet A/S, we performed procedures to express an opinion on whether the annual report of HusCompagniet A/S for the financial year 1 January – 31 December 2022 with the file name HusCompagniet-2022-12-31-en.zip is prepared, in all material respects, in compliance with the Commis-sion Delegated Regulation (EU) 2019/815 on the European Single Electronic Format (ESEF Regulation) which includes requirements related to the preparation of the annual report in XHTML format and iXBRL tagging of the Consolidated Financial Statements including notes. Management is responsible for preparing an annual report that complies with the ESEF Regulation. This responsibility includes:  • The preparing of the annual report in XHTML format;  • The selection and application of appropriate iXBRL tags, including extensions to the ESEF taxonomy and the anchoring thereof to elements in the taxonomy, for all financial information required to be tagged using judge-ment where necessary;  • Ensuring consistency between iXBRL tagged data and the Consolidated Financial Statements presented in human readable format; and  • For such internal control as Management determines necessary to enable the preparation of an annual report that is compliant with the ESEF Regulation. Our responsibility is to obtain reasonable assurance on whether the annual report is prepared, in all material re-spects, in compliance with the ESEF Regulation based on the evidence we have obtained, and to issue a report that includes our opinion. The nature, timing and extent of proce-dures selected depend on the auditor’s judgement, includ-ing the assessment of the risks of material departures from the requirements set out in the ESEF Regulation, whether due to fraud or error. The procedures include:  • Testing whether the annual report is prepared in XHTML format;  • Obtaining an understanding of the company’s iXBRL tagging process and of internal control over the tagging process;  • Evaluating the completeness of the iXBRL tagging of the Consolidated Financial Statements including notes;  • Evaluating the appropriateness of the company’s use of iXBRL elements selected from the ESEF taxonomy and the creation of extension elements where no suitable element in the ESEF taxonomy has been identified;  • Evaluating the use of anchoring of extension elements to elements in the ESEF taxonomy; and  • Reconciling the iXBRL tagged data with the audited Con-solidated Financial Statements. In our opinion, the annual report of HusCompagniet A/S for the financial year 1 January – 31 December 2022 with the file name HusCompagniet-2022-12-31-en.zip is prepared, in all material respects, in compliance with the ESEF Regulation.</arr:AuditorsReportOnXbrlTagging>
   <arr:SignatureOfAuditorsPlace contextRef="ctx-1" id="pp-value-331-1" xml:lang="en">Copenhagen,</arr:SignatureOfAuditorsPlace>
   <arr:SignatureOfAuditorsDate contextRef="ctx-1" id="pp-value-332-1">2023-03-09</arr:SignatureOfAuditorsDate>
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   <cmn:NameAndSurnameOfAuditor contextRef="ctx-36" id="pp-value-322-1" xml:lang="en">Torben Bender</cmn:NameAndSurnameOfAuditor>
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