Assets
| Type | Time | Amount | Unit |
|---|
Revenue
| Type | Start date | End date | Amount | Unit |
|---|
XML
See the xml submitted here:
XML: INVALID
Separator
The full data:
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<mrv:ManagementsReview contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">MANAGEMENTâS REVIEW</td></tr></table></mrv:ManagementsReview>
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<mrv:CorporateGovernanceReport contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">CORPORATE GOVERNANCE</td></tr><tr><td colspan="1">Statutory Statement on Corporate Governance under section</td></tr><tr><td colspan="1">107b of the Danish Financial Statements Act.</td></tr><tr><td colspan="1">Company Management believes that corporate governance is a</td></tr><tr><td colspan="1">key element and currently seeks to improve the Companyâs man-</td></tr><tr><td colspan="1">agement structure. The overall framework for the Management</td></tr><tr><td colspan="1">of RIAS A/S has been planned with a view to ensuring that the</td></tr><tr><td colspan="1">Company meets its obligations towards shareholders, customers,</td></tr><tr><td colspan="1">employees, authorities and other stakeholders in the best possi-</td></tr><tr><td colspan="1">ble way and that long-term value creation is supported.</td></tr><tr><td colspan="1">The Board of Directors of RIAS A/S currently works on ensuring</td></tr><tr><td colspan="1">that the Company complies with the policies and procedures laid</td></tr><tr><td colspan="1">down by the Committee of Corporate Governance which NAS-</td></tr><tr><td colspan="1">DAQ Copenhagen requires be applied. The Board of Directors</td></tr><tr><td colspan="1">discusses how the Companyâs corporate governance in practice</td></tr><tr><td colspan="1">at any time ensures that the management of RIAS A/S meets</td></tr><tr><td colspan="1">the highest standard and that the work of the Board of Directors</td></tr><tr><td colspan="1">supports the Companyâs future business potential.</td></tr><tr><td colspan="1">Openness is a key factor.</td></tr><tr><td colspan="1">Openness and Transparency</td></tr><tr><td colspan="1">The Board of Directors has chosen to publish the Statutory</td></tr><tr><td colspan="1">Statement on Corporate Governance under section 107b of the</td></tr><tr><td colspan="1">Danish Financial Statements Act on the Companyâs website.</td></tr><tr><td colspan="1">Links to the account on good corporate governance and Link to</td></tr><tr><td colspan="1">recommendations for Good Corporate Governance</td></tr><tr><td colspan="1">'https://www.riasnordic.com/investor-relations/2024</td></tr><tr><td colspan="1">The Board of Directors overall approach towards NASDAQ Co-</td></tr><tr><td colspan="1">penhagenâs recommendations for good corporate governance</td></tr><tr><td colspan="1">are found on RIAS A/Sâ website. This statutory account of cor-</td></tr><tr><td colspan="1">porate governance covers the accounting period from 1 October</td></tr><tr><td colspan="1">2023 to 30 September 2024 and is part of the managementâs</td></tr><tr><td colspan="1">report. The statutory account is not covered by the declaration</td></tr><tr><td colspan="1">from the independent auditor.</td></tr><tr><td colspan="1">RIAS A/S has in this connection chosen to compare the compa-</td></tr><tr><td colspan="1">nyâs account of good corporate governance with the Committeeâs</td></tr><tr><td colspan="1">recommendations of December 2020. This creates the best pos-</td></tr><tr><td colspan="1">sible overview of which recommendations RIAS A/S has chosen</td></tr><tr><td colspan="1">to follow completely and which recommendations the company</td></tr><tr><td colspan="1">has chosen not to pursue or which are still being worked on.</td></tr><tr><td colspan="1">Tasks and responsibilities of the Board of Directors</td></tr><tr><td colspan="1">The work done by the Board of Directors is specified in the rules</td></tr><tr><td colspan="1">of procedure which are evaluated at least once per year. RIAS</td></tr><tr><td colspan="1">A/S complies with the recommendation regarding members</td></tr><tr><td colspan="1">and the rules of procedure being adjusted to the companyâs</td></tr><tr><td colspan="1">needs. The Board of Directors meets four times per year or more</td></tr><tr><td colspan="1">as needed. This process ensures that the management can re-</td></tr><tr><td colspan="1">act quickly and effectively to external conditions. Five meetings</td></tr><tr><td colspan="1">were held in the 2023/24 financial year, including the companyâs</td></tr><tr><td colspan="1">ordinary annual general meeting in January 2024.</td></tr><tr><td colspan="1">Composition of the Board of Directors</td></tr><tr><td colspan="1">The Board of Directors consists of five members, of which two</td></tr><tr><td colspan="1">are elected by the companyâs employees. The board members</td></tr><tr><td colspan="1">elected by the annual general meeting are elected for a one-</td></tr><tr><td colspan="1">year term at a time. The Board of Directors has evaluated the</td></tr><tr><td colspan="1">personal capacity of each individual board member and finds</td></tr><tr><td colspan="1">that they are managing their tasks in the board of RIAS A/S in</td></tr><tr><td colspan="1">a sound manner. None of the board members elected by the</td></tr><tr><td colspan="1">annual general meeting are independent as defined in the rec-</td></tr><tr><td colspan="1">ommendations, as the board members are elected based on the</td></tr><tr><td colspan="1">companyâs ownership structure.</td></tr><tr><td colspan="1">Executive Board</td></tr><tr><td colspan="1">The Executive Board is appointed by the Board of Directors, which</td></tr><tr><td colspan="1">specifies the Executive Boardâs terms of employment. The Exec-</td></tr><tr><td colspan="1">utive Board is responsible for the day-to-day operations of RIAS</td></tr><tr><td colspan="1">A/S, including RIAS A/Sâ activity-related and operational develop-</td></tr><tr><td colspan="1">ment, its results and its internal affairs. The Board of Directorsâ</td></tr><tr><td colspan="1">delegation of responsibility to the Executive Board is specified in</td></tr><tr><td colspan="1">the companyâs rules of procedure and the Danish Companies Act.</td></tr><tr><td colspan="1">RIAS A/Sâ Executive Board consists of two persons.</td></tr><tr><td colspan="1">Remuneration for the Board of Directors</td></tr><tr><td colspan="1">and Executive Board</td></tr><tr><td colspan="1">The Board of Directors has adopted a very simple remuner-</td></tr><tr><td colspan="1">ation policy for both the Board of Directors and the Executive</td></tr><tr><td colspan="1">Board. The remuneration policy for the Board of Directors does</td></tr><tr><td colspan="1">not contain any incentive-based remuneration or other variable</td></tr><tr><td colspan="1">components. The Board of Directors for RIAS A/S is not covered</td></tr><tr><td colspan="1">by any bonus or option schemes. The total annual remunera-</td></tr><tr><td colspan="1">tion for the Board of Directors is approved by the annual general</td></tr><tr><td colspan="1">meeting in connection with the approval of the annual report. In</td></tr><tr><td colspan="1">2023/24, the remuneration for the Executive Board consisted of</td></tr><tr><td colspan="1">a base salary plus usual fringe benefits such as a car and phone</td></tr><tr><td colspan="1">plus an annual bonus, and this is described in the remuneration</td></tr><tr><td colspan="1">report. The Executive Boardâs terms of employment, including</td></tr><tr><td colspan="1">remuneration and terms for dismissal/resignation are assessed</td></tr><tr><td colspan="1">as being in accordance with normal practices for positions of</td></tr><tr><td colspan="1">this nature.</td></tr><tr><td colspan="1">Link to the remuneration policy and remuneration report</td></tr><tr><td colspan="1">''https://www.rias . dk/Files /Filer/rias/investor-relations/Re-</td></tr><tr><td colspan="1">muneration-report-2024.pdf</td></tr><tr><td colspan="1">Audit committee</td></tr><tr><td colspan="1">The Board of Directors of RIAS A/S also serve as the audit com-</td></tr><tr><td colspan="1">mittee.</td></tr><tr><td colspan="1">The audit committeeâs overall objective is to minimize the risk</td></tr><tr><td colspan="1">of significant errors in the financial reporting - both internally</td></tr><tr><td colspan="1">and externally. In practice, this takes place by analyzing the in-</td></tr><tr><td colspan="1">ternal control environment, financial reporting, accountancy, the</td></tr><tr><td colspan="1">applied accounting practices and the submission of interim and</td></tr><tr><td colspan="1">annual reports in general.</td></tr><tr><td colspan="1">The audit committee focuses on a continuing development of</td></tr><tr><td colspan="1">the control environment and a continual assessment of the busi-</td></tr><tr><td colspan="1">ness processes and financial and accounting-related matters</td></tr><tr><td colspan="1">that have a significant impact on the accounting information.</td></tr><tr><td colspan="1">The external auditor can also be summoned to the audit com-</td></tr><tr><td colspan="1">mitteeâs meetings. Four meetings were held in 2023/24 and the</td></tr><tr><td colspan="1">external auditor participated in one without the presence of the</td></tr><tr><td colspan="1">management.</td></tr></table></mrv:CorporateGovernanceReport>
<mrv:StatementOfCorporateSocialResponsibility contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="6">ESG FOR 2023 / 2024</td></tr><tr><td colspan="6">Besides informing our stakeholders of our ESG work, this report</td></tr><tr><td colspan="6">also serves as our statutory CSR report pursuant to Sections</td></tr><tr><td colspan="6">99(a) and 99(b) in the Danish Financial Statements Act.</td></tr><tr><td colspan="6">At RIAS, we have always strived to act responsibly and to create</td></tr><tr><td colspan="6">value in a decent and credible manner. It is deeply embedded in</td></tr><tr><td colspan="6">our DNA and it has been a fundamental factor in the companyâs</td></tr><tr><td colspan="6">development- also long before governance, the UNâs Sustaina-</td></tr><tr><td colspan="6">ble Development Goals and the climate debate were put near the</td></tr><tr><td colspan="6">top of the agenda. See âMissionâ page 12.</td></tr><tr><td colspan="6">Over the last many years, we have continually worked towards</td></tr><tr><td colspan="6">reducing our energy consumption, we have improved employ-</td></tr><tr><td colspan="6">ee working conditions and we have had a good and responsible</td></tr><tr><td colspan="6">management culture. Shared responsibility and initiatives in,</td></tr><tr><td colspan="6">among other things, climate and environmental impacts, em-</td></tr><tr><td colspan="6">ployee conditions and governance issues are continuing at full</td></tr><tr><td colspan="6">capacity, and this is an important part of the everyday lives of</td></tr><tr><td colspan="6">our managers and employees who are all assuming a great deal</td></tr><tr><td colspan="6">of responsibility.</td></tr><tr><td colspan="6">At RIAS, we make a commitment to behaving decently and cred-</td></tr><tr><td colspan="6">ibly. We believe that results are made through people who re-</td></tr><tr><td colspan="6">sponsibly contribute to ensuring our common future, and we</td></tr><tr><td colspan="6">have always prioritised doing things the right way.</td></tr><tr><td colspan="6">At RIAS, we believe that a companyâs activities have a critical</td></tr><tr><td colspan="6">impact on the development of a sustainable society. We aim to</td></tr><tr><td colspan="6">proactively improve the environmental, social and governance</td></tr><tr><td colspan="6">conditions, particularly in the areas that are naturally associated</td></tr><tr><td colspan="6">with our business.</td></tr><tr><td colspan="6">Our values, together with the UNâs Global Compact principles,</td></tr><tr><td colspan="6">form the basis for our approach to ESG and is a testimony to</td></tr><tr><td colspan="6">the fact that ESG has always been an integral part of RIAS for</td></tr><tr><td colspan="6">the purpose of creating real value for society as a whole via the</td></tr><tr><td colspan="6">companyâs ESG work.</td></tr><tr><td colspan="6">ESG strategy in accordance with the UN SDGs</td></tr><tr><td colspan="6">The UNâs SDGs reflect a desire to create a better world. The 17</td></tr><tr><td colspan="6">SDGs are the cornerstone of the UNâs âAgenda 2030â and specify</td></tr><tr><td colspan="6">the direction of the work.</td></tr><tr><td colspan="6">RIAS has a particular focus on the SDGs that are most relevant</td></tr><tr><td colspan="6">to our stakeholders and our business, as this is where we believe</td></tr><tr><td colspan="6">we can make the biggest difference. In order to meet the risks</td></tr><tr><td colspan="6">of this increased focus and the possibilities associated with sus-</td></tr><tr><td colspan="6">tainability, we have decided to launch sustainability targets that</td></tr><tr><td colspan="6">create a close connection between our company and the SDGs.</td></tr><tr><td colspan="6">We have specified measurable and ambitious targets for SDG 7</td></tr><tr><td colspan="6">concerning renewable energy and SDG 12 concerning consump-</td></tr><tr><td colspan="6">tion and production. These are described in the section about the</td></tr><tr><td colspan="6">environment and climate below.</td></tr><tr><td colspan="6">Risks</td></tr><tr><td>Below is an overview of the most important risks and</td><td>Environment and climate</td></tr><tr><td>actions for each of the UNâs Global Compact principles</td><td>- Risk: Our own processing and purchasing of raw materials from</td></tr><tr><td>and the specified policy areas.</td><td>suppliers involves a risk of negative environmental impacts.</td></tr><tr><td>Human rights</td><td>- Action: We are systematically working on reducing our environ</td></tr><tr><td>- Risk: The company mainly relies on suppliers from within</td><td>mental impact from our warehouses and processing activities</td></tr><tr><td>Europe, and the risk of failure to comply with human rights and</td><td>and we encourage our suppliers to do the same. We have intro-</td></tr><tr><td>labour rights is minimal.</td><td>duced an ambitious target being climate neutral by 2030 and we</td></tr><tr><td>- Action: All suppliers are asked to fill out a Supplier Code of</td><td>are continually investing in initiatives to meet this target.</td></tr><tr><td>Conduct that emphasises human rights and labour rights.</td><td>Anti-corruption work</td></tr><tr><td>Only the suppliers who fulfil the requirements of this code of</td><td>- Risk: Legal violations relating to corruption can result in major</td></tr><tr><td>conduct are used.</td><td>financial losses and a poor reputation.</td></tr><tr><td>Labour</td><td>- Action: Targeted training in business ethics and anti-corruption</td></tr><tr><td>- Risk: Our employeesâ safety is a risk factor since we have ware</td><td>work for selected high-risk areas such as the sales team.</td></tr><tr><td>houses and production facilities.</td><td>Continuous monitoring of changes to legislation concerning</td></tr><tr><td>- Action: The management is continually focused on safety and we</td><td>anticorruption work and the implementation of applicable rules.</td></tr><tr><td>are working to improve this further via education and training.</td><td>Updating the Code of Conduct, also for suppliers. Available</td></tr><tr><td /><td>whistleblower hotline. Online training in anti-trust and</td></tr><tr><td /><td>compliance for all employees.</td></tr><tr><td colspan="6">Environment and climate</td></tr><tr><td colspan="6">Protecting the environment is important to RIAS, and we make</td></tr><tr><td colspan="6">every effort to minimize negative environmental impacts and</td></tr><tr><td colspan="6">address climate change.</td></tr><tr><td colspan="6">The company has a limited environmental impact which mainly</td></tr><tr><td colspan="6">consists of the waste from products and transportation and driv-</td></tr><tr><td colspan="6">ing in company cars and electricity consumption for the compa-</td></tr><tr><td colspan="6">nyâs processing work, offices and warehouses.</td></tr><tr><td colspan="6">The company is working in a targeted manner to reduce its envi-</td></tr><tr><td colspan="6">ronmental impact from PVC waste, and here the company has a</td></tr><tr><td colspan="6">partnership with the organization Wuppi which collects and dis-</td></tr><tr><td colspan="6">poses PVC in a sustainable fashion. During 2023/24 RIAS contin-</td></tr><tr><td colspan="6">ued to introduce Green Concept which is an offer to customers</td></tr><tr><td colspan="6">who are not able to send their plastic scrap to recycling. RIAS</td></tr><tr><td colspan="6">collect the scrap and makes sure that it gets recycled. During</td></tr><tr><td colspan="6">2023/24 57 tons of scrap has been collected and delivered to re-</td></tr><tr><td colspan="6">cycling, compared to 41 tons in 2022/23. This scrap would most</td></tr><tr><td colspan="6">likely otherwise have been considered to be waste.</td></tr><tr><td colspan="6">RIAS makes every effort to make environmental considerations</td></tr><tr><td colspan="6">an integral part of our activities. Our work with reducing climate</td></tr><tr><td colspan="6">emissions is focused on, but not limited to, energy, heating, be-</td></tr><tr><td colspan="6">haviour and transport. The work with reducing our environmen-</td></tr><tr><td colspan="6">tal impact is focused on, but not limited to, responsible purchas-</td></tr><tr><td colspan="6">ing, responsible packaging and waste management. Our goal is</td></tr><tr><td colspan="6">to reduce the negative climate and environmental consequences</td></tr><tr><td colspan="6">of our activities, and we expect the same from our suppliers.</td></tr><tr><td colspan="6">We are convinced that effective and systematic environmental</td></tr><tr><td colspan="6">initiatives create both environmental benefits and value for our</td></tr><tr><td colspan="6">stakeholders.</td></tr><tr><td colspan="6">Target</td></tr><tr><td colspan="6">RIAS is working towards being carbon neutral in 2030.</td></tr><tr><td colspan="6">RIAS A/S is continually monitoring energy consumption levels</td></tr><tr><td colspan="6">and waste figures for the entire company in a database called</td></tr><tr><td colspan="6">WeSustain, and here the development is compared to previous</td></tr><tr><td colspan="6">years.</td></tr><tr><td colspan="6">Results achieved</td></tr><tr><td colspan="6">Based on input from WeSustain concerning the companyâs</td></tr><tr><td colspan="6">consumption in areas such as electricity, fuel and water, it is</td></tr><tr><td colspan="6">possible to calculate a carbon footprint that can be used to as-</td></tr><tr><td colspan="6">sess where new initiatives are needed to support the companyâs</td></tr><tr><td colspan="6">target of being carbon neutral in 2030.</td></tr><tr><td colspan="6">The company is continuously working on reducing its energy</td></tr><tr><td colspan="6">consumption in its warehouses, production facilities and admin-</td></tr><tr><td colspan="6">istration with the support from energy consultants who gives</td></tr><tr><td colspan="6">advice on the newest technology and where it makes sense to</td></tr><tr><td colspan="6">reduce our energy consumption with the biggest impact.</td></tr><tr><td colspan="6">By tracking our energy consumption and the CO2 output we are</td></tr><tr><td colspan="6">able to work more efficient towards our goal in 2030. In 2024 an</td></tr><tr><td colspan="6">energy check was conducted as requested every 4th year.</td></tr><tr><td colspan="6">RIAS has the following energy consumption split by source.</td></tr><tr><td colspan="6">The emissions are calculated on the basis of energy consump-</td></tr><tr><td colspan="6">tion and CO2 emissions are calculated using the GHG Protocol</td></tr><tr><td colspan="6">methodology.</td></tr><tr><td colspan="6">COâ Emissions by Source</td></tr><tr><td>Tonnage COâ</td><td>2023/24</td><td>2022/23</td><td>2021/22</td><td>2020/21</td><td>2019/20</td></tr><tr><td>Electrical power</td><td>48</td><td>65</td><td>74</td><td>173</td><td>157</td></tr><tr><td /><td>15%</td><td>20%</td><td>19%</td><td>32%</td><td>27%</td></tr><tr><td>Natural gas</td><td>54</td><td>48</td><td>57</td><td>51</td><td>54</td></tr><tr><td /><td>17%</td><td>15%</td><td>15%</td><td>9%</td><td>9%</td></tr><tr><td>Diesel / petrol</td><td>115</td><td>132</td><td>144</td><td>118</td><td>121</td></tr><tr><td /><td>36%</td><td>40%</td><td>37%</td><td>21%</td><td>21%</td></tr><tr><td>District heat</td><td>106</td><td>91</td><td>111</td><td>207</td><td>256</td></tr><tr><td>Total</td><td>33%</td><td>28%</td><td>29%</td><td>38%</td><td>44%</td></tr><tr><td /><td>323</td><td>336</td><td>386</td><td>549</td><td>588</td></tr><tr><td colspan="6">Electricity consumption</td></tr><tr><td colspan="6">The company uses a large part of its electricity consumption</td></tr><tr><td colspan="6">in its warehouses and processing work; During the last year</td></tr><tr><td colspan="6">we have been able to reduce our use of electricy and therefore</td></tr><tr><td colspan="6">also the emission of CO2 from this source. In May 2023 addi-</td></tr><tr><td colspan="6">tional solar panels were implemented for the site in Roskilde.</td></tr><tr><td colspan="6">In 2023/24 RIAS has been able to produce 260.000 Kwh. This</td></tr><tr><td colspan="6">production amounts to 30% of our usage of electricity.</td></tr><tr><td colspan="6">Investments in automation of the usage of electricity in pro-</td></tr><tr><td colspan="6">cessing department has also been done which will replace</td></tr><tr><td colspan="6">manual judgement of how much energy should be used for</td></tr><tr><td colspan="6">our pumps in the department. This is estimated to reduce our</td></tr><tr><td colspan="6">usage of electricity by 20t Kwh pr year equal to 3% reduction.</td></tr><tr><td colspan="6">Continuous focus on internal and external lightning and the</td></tr><tr><td colspan="6">change to LED and a high awareness of the use of electricy</td></tr><tr><td colspan="6">among our colleagues have also contributed to a reduction</td></tr><tr><td colspan="6">in the use of electricity and will continue to be a topic for the</td></tr><tr><td colspan="6">future.</td></tr><tr><td colspan="6">The company still expects to invest in new machinery in the fu-</td></tr><tr><td colspan="6">ture and energy usage will therefore be a big part of the choice</td></tr><tr><td colspan="6">of brand and which machine that should be invested in.</td></tr><tr><td colspan="6">Additional charging stations have been implemented and foun-</td></tr><tr><td colspan="6">dation for up to 28 charging stations are in place. The company</td></tr><tr><td colspan="6">increased the existing 4 charging stations with additional 4</td></tr><tr><td colspan="6">during 2023/24 in Roskilde site and 2 in Assentoft.</td></tr><tr><td colspan="6">Replacement of traditional cars to electric cars has increased</td></tr><tr><td colspan="6">in 2023/24. The cars to the sales staff have been in focus due</td></tr><tr><td colspan="6">to the high amount of km driven but also 2 vans in the ware-</td></tr><tr><td colspan="6">house have been replaced to electric and therefore away from</td></tr><tr><td colspan="6">Diesel. 47 % of RIAS leased fleet is electric and is an increase</td></tr><tr><td colspan="6">compared to 13% 2022/23. As shown above the company still</td></tr><tr><td colspan="6">has a significant emission of Co2 from cars. It is expected that</td></tr><tr><td colspan="6">the transmission from cars running on fossil fuels to electric</td></tr><tr><td colspan="6">cars are fully implemented during 2024/25.</td></tr><tr><td colspan="6">Heating usage</td></tr><tr><td colspan="6">RIAS uses natural gas to heat the building in Assentoft and dis-</td></tr><tr><td colspan="6">trict heating for the buildings in Roskilde, and the company has</td></tr><tr><td colspan="6">mainly worked on reducing consumption on the Roskilde site.</td></tr><tr><td colspan="6">Isolation and replacement of new windows is still in focus has</td></tr><tr><td colspan="6">been done where needed and during 2024 an inspection of the</td></tr><tr><td colspan="6">building in Roskilde has been carried out to see where possible</td></tr><tr><td colspan="6">potentials for improvement can be done.</td></tr><tr><td colspan="6">Our supplier of district heating is also working on making their</td></tr><tr><td colspan="6">production more âgreenâ and will therefore also have an indi-</td></tr><tr><td colspan="6">rect effect on our CO2 emission from this source in the future.</td></tr><tr><td colspan="6">The usage of natural gas in Assentoft is at a stable level and</td></tr><tr><td colspan="6">still has an emission above 50 tons CO2. The company expects</td></tr><tr><td colspan="6">that a transmission from gas to district heat also will be done</td></tr><tr><td colspan="6">in Assentoft during 2025 which will decrease the Co2 emission</td></tr><tr><td colspan="6">from the warehouse</td></tr><tr><td colspan="6">Waste</td></tr><tr><td colspan="6">The company generates waste as part of its processing of plas-</td></tr><tr><td colspan="6">tics, but it is a very limited amount. RIAS is working in a targeted</td></tr><tr><td colspan="6">manner to reduce the environmental impact of PVC waste, and</td></tr><tr><td colspan="6">the company has a partnership with the organisation Wuppi,</td></tr><tr><td colspan="6">which collects and disposes of hard PVC waste in a sustainable</td></tr><tr><td colspan="6">fashion.</td></tr><tr><td colspan="6">During 2023/24 Wuppi organization collected 2.409 tons of plas-</td></tr><tr><td colspan="6">tic waste, and which was send to recycling.</td></tr><tr><td colspan="6">During 2023/24 RIAS continued to introduce Green Concept</td></tr><tr><td colspan="6">which is an offer to customers who are not able to send their</td></tr><tr><td colspan="6">plastic scrap to recycling. RIAS collect the scrap and makes</td></tr><tr><td colspan="6">sure that it gets recycled. During 2023/24 57 tons of scrap has</td></tr><tr><td colspan="6">been collected and delivered to recycling, compared to 41 tons</td></tr><tr><td colspan="6">in 2022/23. This scrap would most likely otherwise have been</td></tr><tr><td colspan="6">considered to be waste.</td></tr><tr><td colspan="6">RIAS is continually working on finding new sustainable solutions</td></tr><tr><td colspan="6">for our products. During 2023/24 the company introduced 2 new</td></tr><tr><td colspan="6">products. An acrylic which is produced from 100% regenerated</td></tr><tr><td colspan="6">material. The product is called Policril Recycled. The other one is</td></tr><tr><td colspan="6">called Re-board Basic and is made of 100% recycle fibers.</td></tr><tr><td colspan="6">Both materials are made from recyclable materials and gives</td></tr><tr><td colspan="6">the companyâs customers the possibility to choose an alternative</td></tr><tr><td colspan="6">to the traditional materials.</td></tr><tr><td colspan="6">During 2nd half of 2023/24 the company implemented a certified</td></tr><tr><td colspan="6">Product Carbon Footprint calculator that will give the customers</td></tr><tr><td colspan="6">a possibility to see which footprint the products they purchase</td></tr><tr><td colspan="6">will have from production site to the customers warehouse. Dur-</td></tr><tr><td colspan="6">ing 2024/25 this tool will be introduced to our customers</td></tr><tr><td colspan="6">RIAS A/S aims to conduct its operations in a responsible manner</td></tr><tr><td colspan="6">and is continually working on creating coherence between the</td></tr><tr><td colspan="6">companyâs strategy and responsibility to the society that the</td></tr><tr><td colspan="6">company operates in. For RIAS A/S, social responsibility work is</td></tr><tr><td colspan="6">a continual process and in 2024/25 the company continues to</td></tr><tr><td colspan="6">work on structuring the required internal processes.</td></tr><tr><td colspan="6">Based on a criticality assessment, the company is working with</td></tr><tr><td colspan="6">areas such as employees, the environment, supplier conditions</td></tr><tr><td colspan="6">and anticorruption. The overall policy is described below in</td></tr><tr><td colspan="6">addition to how the policy works in practice and, where relevant,</td></tr><tr><td colspan="6">what has been achieved.</td></tr><tr><td colspan="6">Social factors</td></tr><tr><td colspan="6">Ensuring good social conditions for employees is important to</td></tr><tr><td colspan="6">the company, and RIAS offers all of its employees good working</td></tr><tr><td colspan="6">conditions in accordance with applicable legislation and good</td></tr><tr><td colspan="6">practices. There are monthly follow-ups on sick leave in order to</td></tr><tr><td colspan="6">improve well-being, and in general, the company is continually</td></tr><tr><td colspan="6">working on ensuring the best possible working environment. The</td></tr><tr><td colspan="6">total absences for the 2023/24 financial year have decreased</td></tr><tr><td colspan="6">compared to 2022/23 and are at 2.1% compared to 2.4% last year.</td></tr><tr><td colspan="6">Workplace safety is important to the company, and there is</td></tr><tr><td colspan="6">continual investment in initiatives that improve safety at ware-</td></tr><tr><td colspan="6">houses and production facilities. During 2023/24 fire drills have</td></tr><tr><td colspan="6">been done and training in the fire protection system has been</td></tr><tr><td colspan="6">carried out. Investments have been made in equipping trucks</td></tr><tr><td colspan="6">with blue lights both front and rear so that employees can see</td></tr><tr><td colspan="6">when a truck is headed their way. Investments have also been</td></tr><tr><td colspan="6">made on pallet racks to prevent forklifts from damaging the</td></tr><tr><td colspan="6">racks so that a breakdown of the racks can injure the workforce.</td></tr><tr><td colspan="6">In our warehouse and processing department the company in-</td></tr><tr><td colspan="6">vested in advanced hearing protection which are specific pro-</td></tr><tr><td colspan="6">duced for each employee which keep the noise out, but the em-</td></tr><tr><td colspan="6">ployee can be contacted. In our administration we have invested</td></tr><tr><td colspan="6">in headsets with active noise reduction and installed noise re-</td></tr><tr><td colspan="6">duction walls between workstations.</td></tr><tr><td colspan="6">The work environment council in RIAS works with safety and</td></tr><tr><td colspan="6">health and during the year different competitions have been done</td></tr><tr><td colspan="6">in order to improve the health of the employees. Count your steps</td></tr><tr><td colspan="6">during the day was one initiative and another was count your km</td></tr><tr><td colspan="6">when using your bicycle. Trying to improve physical activity dur-</td></tr><tr><td colspan="6">ing the day both at work but also in the spare time, is just one out of</td></tr><tr><td colspan="6">many initiatives performed by the council. In the financial year of</td></tr><tr><td colspan="6">2023/24 the company had no accidents compared to 1 last year.</td></tr><tr><td colspan="6">The company will continue to work on safety issues via daily</td></tr><tr><td colspan="6">morning meetings at warehouses and production facilities to</td></tr><tr><td colspan="6">ensure that the number of workplace accidents are avoided or</td></tr><tr><td colspan="6">at a very low rate. The company completed an employee satis-</td></tr><tr><td colspan="6">faction survey during the spring of 2024 to ensure that the social</td></tr><tr><td colspan="6">conditions remain good via the use of employee dialogues. Com-</td></tr><tr><td colspan="6">munication was an issue that was brought to the attention of the</td></tr><tr><td colspan="6">management and therefore monthly morning meetings are ini-</td></tr><tr><td colspan="6">tiated for all employees and for those who can´t participate the</td></tr><tr><td colspan="6">meetings are shared via Teams. Information screens has been</td></tr><tr><td colspan="6">installed in both sites and in most departments. Here informa-</td></tr><tr><td colspan="6">tion can be shared so all are informed about news in RIAS A/S.</td></tr><tr><td colspan="6">Inclusion is also important to the company, and it employs those</td></tr><tr><td colspan="6">in vocational training programs and offers flexible working</td></tr><tr><td colspan="6">schemes (flexjob) to employees with a limited work capacity. In</td></tr><tr><td colspan="6">addition, there are schemes for seniors offered to employees</td></tr><tr><td colspan="6">who are close to retirement. RIAS also assumes responsibility</td></tr><tr><td colspan="6">by training young people in various job roles, and currently the</td></tr><tr><td colspan="6">company has 5 trainees hired in warehouses and in sales func-</td></tr><tr><td colspan="6">tions which is 2 more than last year.</td></tr><tr><td colspan="6">RIAS has a maternity leave for men that is equal to the one ap-</td></tr><tr><td colspan="6">plying for women and by doing that exceeding the legal require-</td></tr><tr><td colspan="6">ments. This has the effect that men and women are having the</td></tr><tr><td colspan="6">same opportunity in this matter.</td></tr></table><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="6">Suppliers and human rights</td></tr><tr><td colspan="6">The company typically enters into long-term supplier relation-</td></tr><tr><td colspan="6">ships, and the suppliers are mainly located in Europe. An overall</td></tr><tr><td colspan="6">assessment of the suppliers also includes - besides financial</td></tr><tr><td colspan="6">and quality related assessments an assessment of whether the</td></tr><tr><td colspan="6">supplier demonstrates social responsibility, including not using</td></tr><tr><td colspan="6">child labour, etc.</td></tr><tr><td colspan="6">All new suppliers are asked to fill out a Supplier Code of Con-</td></tr><tr><td colspan="6">duct which, among other things, has questions related to human</td></tr><tr><td colspan="6">rights. In the financial year only suppliers fulfilling the require-</td></tr><tr><td colspan="6">ments of the Supplier Code of Conduct have been used.</td></tr><tr><td colspan="6">RIAS A/S has received an updated Supplier Declaration at the</td></tr><tr><td colspan="6">end of the financial year and will therefore from now on use this</td></tr><tr><td colspan="6">one for new suppliers, while also getting this updated version</td></tr><tr><td colspan="6">signed by the current suppliers.</td></tr><tr><td colspan="6">Anti-corruption</td></tr><tr><td colspan="6">As a company, RIAS wants to ensure that we carry out our activities in</td></tr><tr><td colspan="6">an honest manner without the involvement of corruption or bribery</td></tr><tr><td colspan="6">to gain unfair advantages. It is important that all of RIASâ activities are</td></tr><tr><td colspan="6">characterised by integrity. Bribery and corruption harm the societies</td></tr><tr><td colspan="6">in which they take place and prevent economic growth and devel-</td></tr><tr><td colspan="6">opment. It is RIASâ policy to comply with all applicable laws on fight-</td></tr><tr><td colspan="6">ing corruption and to correctly list all transactions in RIASâ financial</td></tr><tr><td colspan="6">statements and reports. The company has zero tolerance for bribery</td></tr><tr><td colspan="6">and corruption made by employees or others acting on our behalf.</td></tr><tr><td colspan="6">To support the policy on fighting bribery, all new employees</td></tr><tr><td colspan="6">must complete online courses in anti-trust and anti-corruption</td></tr><tr><td colspan="6">issues within three months of starting in their jobs and updat-</td></tr><tr><td colspan="6">ed courses are continuously held for employees in RIAS A/S.</td></tr><tr><td colspan="6">In the 2023/24 financial year, compliance e-learning cours-</td></tr><tr><td colspan="6">es in anti-corruption work have been held for all employees and</td></tr><tr><td colspan="6">100% of employees completed the course. Compliance is also an</td></tr><tr><td colspan="6">item on the agenda at board meetings, and here the Board of Di-</td></tr><tr><td colspan="6">rectors has also been informed of the e-learning courses that</td></tr><tr><td colspan="6">have been completed. The management group also discusses</td></tr><tr><td colspan="6">compliance issues and this is a permanent part of the agenda.</td></tr><tr><td colspan="6">The company has a whistleblower hotline which gives the possi-</td></tr><tr><td colspan="6">bility to report on all critical issues they might observe. The hot-</td></tr><tr><td colspan="6">line is available from the website RIAS.dk and therefore is an op-</td></tr><tr><td colspan="6">tion for both internal employees and external stakeholders to</td></tr><tr><td colspan="6">use. The hotline is managed by an external partner and therefore</td></tr><tr><td colspan="6">everything can be reported strictly confidential. There have been</td></tr><tr><td colspan="6">no whistleblower reports submitted in 2023/24. Nor has manage-</td></tr><tr><td colspan="6">ment been made aware of corruption issues by other channels,</td></tr><tr><td colspan="6">and the Board of Directors has also been notified of this. In the</td></tr><tr><td colspan="6">2023/24 financial year, all employees have been asked to com-</td></tr><tr><td colspan="6">plete e-learning courses on compliance, GDPR and IT security.</td></tr><tr><td colspan="6">Policy for the gender composition of the Board of</td></tr><tr><td colspan="6">Directors and Executive Board, cf. Section 99(b) + 107D</td></tr><tr><td colspan="6">The current Board of Directors are elected on an annual basis,</td></tr><tr><td colspan="6">and the board members are selected based on their overall com-</td></tr><tr><td colspan="6">petences. The Board of Directors currently consists of three mem-</td></tr><tr><td colspan="6">bers, of which all are men. The company had a new chairman in</td></tr><tr><td colspan="6">2024 who is a man. Therefore, the company hasnât achieved an</td></tr><tr><td colspan="6">equitable gender distribution in the top management team. Our</td></tr><tr><td colspan="6">ambition is to have at least 25% of the underrepresented gender</td></tr><tr><td colspan="6">on our Board and this is expected to be achieved in 2028/29. The</td></tr><tr><td colspan="6">way to achieve this is by having focus on the target and assure</td></tr><tr><td colspan="6">that all candidates are considered in the recruitment process and</td></tr><tr><td colspan="6">to have all genders represented in the election process.</td></tr><tr><td colspan="6">Gender diversity in the other management of RIAS A/S</td></tr><tr><td colspan="6">The other management, cf. § 99b, in RIAS A/S consist of two le-</td></tr><tr><td colspan="6">vels of management. Level 1: The Executive Management. Level</td></tr><tr><td colspan="6">2: People with employee responsibilities who report directly to the</td></tr><tr><td colspan="6">Executive Management. The Executive Management consists of</td></tr><tr><td colspan="6">two members and the management team who report directly to</td></tr><tr><td colspan="6">the Executive Management consists of 6 members. In total the</td></tr><tr><td colspan="6">other management consists of 8 members and where one is a fe-</td></tr><tr><td colspan="6">male. The target of 38% gender split is therefore not achieved in</td></tr><tr><td colspan="6">the other management.</td></tr><tr><td colspan="6">The company expects that this target will be achieved in 2029/30</td></tr><tr><td colspan="6">and achieved by the following actions</td></tr><tr><td colspan="6">â¢Work is being done to ensure at least 38% female managers</td></tr><tr><td colspan="6">in the company. This is not accomplished in 2023/24 but in</td></tr><tr><td colspan="6">all new positions the company uses recruitment agencies to</td></tr><tr><td colspan="6">find the best employees and to ensure that the candidates in</td></tr><tr><td colspan="6">clude well-qualified women.</td></tr><tr><td colspan="6">â¢Making the company more attractive to managers of both</td></tr><tr><td colspan="6">genders, such as by ensuring there is an HR policy that pro</td></tr><tr><td colspan="6">motes the career opportunities of both men and women,</td></tr><tr><td colspan="6">which is accomplished by offering a flexible and family-fri</td></tr><tr><td colspan="6">endly workplace.</td></tr><tr><td colspan="6">RIAS A/S does not have an individual diversity policy pursuant to</td></tr><tr><td colspan="6">Section 107 D of the Danish Financial Statements Act, as a compre-</td></tr><tr><td colspan="6">hensive policy has been established for the entire RIAS Group.</td></tr><tr><td colspan="6">Diversity in the Board of Directors</td></tr><tr><td /><td>2024</td><td>2023</td><td>2022</td><td>2021</td><td>2020</td></tr><tr><td>Members</td><td>3</td><td>4</td><td>4</td><td>4</td><td>4</td></tr><tr><td>Underrepresented</td><td>0</td><td>25</td><td>25</td><td>25</td><td>25</td></tr><tr><td>Target in %</td><td>25</td><td>0</td><td /><td>0</td></tr><tr><td>Target is expected to be achieved</td><td>2028/29</td><td>0</td><td>0</td></tr><tr><td colspan="6">Gender diversity in the other management of RIAS A/S</td></tr><tr><td>Members</td><td>8</td><td>7</td><td>9</td><td>6</td><td>6</td></tr><tr><td>Underrepresented</td><td>13</td><td>14</td><td>22</td><td>17</td><td>17</td></tr><tr><td>Target in %</td><td>38</td><td>0</td><td /><td>0</td></tr><tr><td>Target is expected to be achieved</td><td>2028/29</td><td>0</td><td>0</td></tr></table></mrv:StatementOfCorporateSocialResponsibility>
<mrv:StatementOfTheDiversityPolicies contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Diversity</td></tr><tr><td colspan="1">At RIAS, we believe that a diverse workplace and an inclusive</td></tr><tr><td colspan="1">working environment is an asset for our company. We believe that</td></tr><tr><td colspan="1">diverse teams are more innovative, make better decisions and</td></tr><tr><td colspan="1">contribute to novel thinking, and we also promote tolerance among</td></tr><tr><td colspan="1">our employees. RIAS wants and strives to be a responsible work-</td></tr><tr><td colspan="1">place that recruits, promotes and develops its employees based</td></tr><tr><td colspan="1">on their competences and in a manner that promotes diversity.</td></tr><tr><td colspan="1">We therefore also make every effort to ensure that our recruit-</td></tr><tr><td colspan="1">ment, terms of employment, promotions and any potential ter-</td></tr><tr><td colspan="1">minations are made without prejudice towards gender, sexual</td></tr><tr><td colspan="1">orientation, age, nationality, physical ability, handicaps, political</td></tr><tr><td colspan="1">views, ethnicity, family status, religious convictions or other</td></tr><tr><td colspan="1">ideologies. When we recruit new managers, we focus on equal</td></tr><tr><td colspan="1">terms and on identifying candidates from both genders.</td></tr><tr><td colspan="1">How we work with diversity at RIAS</td></tr><tr><td colspan="1">We are continually working on ensuring diversity both in man-</td></tr><tr><td colspan="1">agement teams and among employee groups. We work based</td></tr><tr><td colspan="1">on the following principles</td></tr><tr><td colspan="1">⢠RIAS is a workplace with equal opportunities for everyone in</td></tr><tr><td colspan="1">a safe and non-discriminatory working environment.</td></tr><tr><td colspan="1">⢠We strive to ensure that women are represented by more</td></tr><tr><td colspan="1">than 38% among our management teams and we therefore</td></tr><tr><td colspan="1">focus on equal terms and on identifying candidates from both</td></tr><tr><td colspan="1">genders when recruiting new managers.</td></tr><tr><td colspan="1">⢠We comply with Danish and international human rights</td></tr><tr><td colspan="1">standards and laws regarding equal opportunity and we offer</td></tr><tr><td colspan="1">fair and equal terms in employment and working conditions,</td></tr><tr><td colspan="1">regardless of gender, ethnic origins, religious beliefs or other</td></tr><tr><td colspan="1">personal conditions.</td></tr><tr><td colspan="1">⢠We do not tolerate bullying, sexual harassment, discrimination,</td></tr><tr><td colspan="1">offensive behaviour or threats</td></tr><tr><td colspan="1">⢠We strive to ensure that the composition of our employees is</td></tr><tr><td colspan="1">a mix of young and experienced employees who together can</td></tr><tr><td colspan="1">inspire and contribute to the development of RIAS.</td></tr></table></mrv:StatementOfTheDiversityPolicies>
<mrv:StatementOfPolicyForDataEthics contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Data ethics § 99 d</td></tr><tr><td colspan="1">It is RIAS´s policy to maintain the highest ethical standards</td></tr><tr><td colspan="1">and comply with all applicable data and privacy laws and</td></tr><tr><td colspan="1">regulations. Our work with data ethics is governed by the</td></tr><tr><td colspan="1">data ethics policy as well as internal policies and stand-</td></tr><tr><td colspan="1">ard operating procedures. As described in RIASâ Policy for</td></tr><tr><td colspan="1">data ethics, which is available at rias.dk, we at RIAS have</td></tr><tr><td colspan="1">identified a number of data ethical values that we as a</td></tr><tr><td colspan="1">company must work towards, and which can support that</td></tr><tr><td colspan="1">we al- ways make well-considered decisions on our digital</td></tr><tr><td colspan="1">journey. The data ethical values are places on top of the</td></tr><tr><td colspan="1">relevant legislation for the area and complement RIASâ per-</td></tr><tr><td colspan="1">sonal data policy. The policy implies that RIAS continuously</td></tr><tr><td colspan="1">consider the advantages and disadvantages of the use of</td></tr><tr><td colspan="1">new digital solutions in relation to the data processing they</td></tr><tr><td colspan="1">entail, as RIAS is very aware that the use and processing</td></tr><tr><td colspan="1">of data must never go beyond RIASâ data ethical values</td></tr><tr><td colspan="1">and in the end, end up damaging trust in RIAS as a digitally</td></tr><tr><td colspan="1">responsible company.</td></tr><tr><td colspan="1">Please refer to</td></tr><tr><td colspan="1">'riasnordic.com/about-rias/data-ethics-policy</td></tr><tr><td colspan="1">Tax policy</td></tr><tr><td colspan="1">It is RIAS´s policy to maintain the highest ethical standards</td></tr><tr><td colspan="1">and comply with all applicable laws and regulations.</td></tr><tr><td colspan="1">Our work with Tax is governed by the Tax policy as well as</td></tr><tr><td colspan="1">internal policies and standard operating procedures.</td></tr></table></mrv:StatementOfPolicyForDataEthics>
<gsd:NameOfReportingEntity contextRef="ctx1" xml:lang="da">RIAS A/S</gsd:NameOfReportingEntity>
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<gsd:TelephoneNumberOfReportingEntity contextRef="ctx1" xml:lang="da">Telephone: +45 46 77 00 00</gsd:TelephoneNumberOfReportingEntity>
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<gsd:EmailOfReportingEntity contextRef="ctx1" xml:lang="da">Email: info@rias.dk</gsd:EmailOfReportingEntity>
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<sob:StatementByExecutiveAndSupervisoryBoards contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Managementâs statement</td></tr></table></sob:StatementByExecutiveAndSupervisoryBoards>
<sob:IdentificationOfApprovedAnnualReport contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">The Board of Directors and the Executive Board have today con-</td></tr><tr><td colspan="1">sidered and adopted the Annual Report of RIAS A/S for 2023/24.</td></tr><tr><td colspan="1">The Annual Report has been prepared in accordance with Inter-</td></tr><tr><td colspan="1">national Financial Reporting Standards (IFRS) as adopted by the</td></tr><tr><td colspan="1">EU and Danish disclosure requirements for listed companies.</td></tr></table></sob:IdentificationOfApprovedAnnualReport>
<sob:ConfirmationThatFinancialStatementGivesTrueAndFairViewOfAssetsLiabilitiesEquityFinancialPositionAndResults contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">In our opinion, the Financial Statements give a true and fair view</td></tr><tr><td colspan="1">of the financial position of the Company at 30 September 2023</td></tr><tr><td colspan="1">and of the results of the Company operations and cash flows for</td></tr><tr><td colspan="1">the financial year 1 October 2023 â 30 September 2024.</td></tr><tr><td colspan="1">In our opinion, Managementâs Review provides a true and</td></tr><tr><td colspan="1">fair account of the development of Companyâs activities and</td></tr><tr><td colspan="1">financial circumstances, the profit for the year, cash flows and</td></tr><tr><td colspan="1">financial position as well as a description of the most material</td></tr><tr><td colspan="1">risks and uncertainties that may affect the Company.</td></tr></table></sob:ConfirmationThatFinancialStatementGivesTrueAndFairViewOfAssetsLiabilitiesEquityFinancialPositionAndResults>
<sob:ManagementsStatementAboutManagementsReview contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">In our opinion, the annual report of Rias A/S for the financial</td></tr><tr><td colspan="1">year 1 October 2023 to 30 September 2024 identified as RIAS-</td></tr><tr><td colspan="1">2024-09-30-en.xhtml is prepared, in all material respects, in</td></tr><tr><td colspan="1">compliance with the ESEF Regulation.</td></tr></table></sob:ManagementsStatementAboutManagementsReview>
<sob:RecommendationForApprovalOfAnnualReportByGeneralMeeting contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">We recommend that the Annual Report be adopted at the Annu-</td></tr><tr><td colspan="1">al General Meeting.</td></tr></table></sob:RecommendationForApprovalOfAnnualReportByGeneralMeeting>
<arr:IndependentAuditorsReportsAudit contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">INDEPENDENT AUDITORâS REPORT</td></tr></table></arr:IndependentAuditorsReportsAudit>
<arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">To the Shareholders of RIAS A/S</td></tr></table></arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements>
<arr:AuditorsReportOnFinancialStatements contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">REPORT ON THE AUDIT OF THE FINANCIAL STATEMENTS</td></tr></table></arr:AuditorsReportOnFinancialStatements>
<arr:OpinionOnAuditedFinancialStatements contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Opinion</td></tr><tr><td colspan="1">We have audited the Financial Statements of RIAS A/S for the finan-</td></tr><tr><td colspan="1">cial year 1 October 2023 - 30 Sep-tember 2024, which comprise in-</td></tr><tr><td colspan="1">come statement, total income statement, balance sheet, statement</td></tr><tr><td colspan="1">of changes in equity, cash flow statement, notes and a summary</td></tr><tr><td colspan="1">of significant accounting policies. The Financial Statements are</td></tr><tr><td colspan="1">prepared in accordance with the International Financial Reporting</td></tr><tr><td colspan="1">Standards as adopted by the EU and additional requirements in the</td></tr><tr><td colspan="1">Danish Financial Statements Act.</td></tr><tr><td colspan="1">In our opinion, the Financial Statements give a true and fair view</td></tr><tr><td colspan="1">of the Companyâs financial position at 30 September 2024, and of</td></tr><tr><td colspan="1">the results of the Companyâs operations and cash flows for the fi-</td></tr><tr><td colspan="1">nan-cial year 1 October 2023 - 30 September 2024 in accordance</td></tr><tr><td colspan="1">with the International Financial Report-ing Standards as adopted by</td></tr><tr><td colspan="1">the EU and additional requirements in the Danish Financial State-</td></tr><tr><td colspan="1">ments Act.</td></tr><tr><td colspan="1">Our opinion is consistent with our long-form audit report to the au-</td></tr><tr><td colspan="1">dit committee and the board of di-rectors.</td></tr></table></arr:OpinionOnAuditedFinancialStatements>
<arr:DescriptionOfQualificationsOfAuditedFinancialStatements contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Basis for Opinion</td></tr><tr><td colspan="1">We conducted our audit in accordance with International Stand-</td></tr><tr><td colspan="1">ards on Auditing (ISAs) and the addi-tional requirements applicable</td></tr><tr><td colspan="1">in Denmark. Our responsibilities under those standards and re-</td></tr><tr><td colspan="1">quire-ments are further described in the âAuditorâs Responsibilities</td></tr><tr><td colspan="1">for the Audit of the Financial State-mentsâ section of our report. We</td></tr><tr><td colspan="1">believe that the audit evidence we have obtained is sufficient and</td></tr><tr><td colspan="1">appropriate to provide a basis for our opinion.</td></tr><tr><td colspan="1">Independence</td></tr><tr><td colspan="1">We are independent of the Company in accordance with the Interna-</td></tr><tr><td colspan="1">tional Ethics Standards Board for Accountantsâ International Code</td></tr><tr><td colspan="1">of Ethics for Professional Accountants (including International In-</td></tr><tr><td colspan="1">de-pendence Standards) (IESBA Code), together with the ethical re-</td></tr><tr><td colspan="1">quirements that are relevant to our audit of the financial statements</td></tr><tr><td colspan="1">in Denmark, and we have fulfilled our other ethical responsibilities</td></tr><tr><td colspan="1">in accordance with these requirements and the IESBA Code.</td></tr><tr><td colspan="1">To the best of our belief we have not performed any prohibited</td></tr><tr><td colspan="1">non-audit services, as stated in article 5, subarticle 1, in regulation</td></tr><tr><td colspan="1">(EU) no. 537/2014.</td></tr><tr><td colspan="1">Appointment of auditor</td></tr><tr><td colspan="1">We were initially appointed auditor of RIAS A/S on 27 Janu-</td></tr><tr><td colspan="1">ary 2023 for the financial year 2022/23. We were reappoint-</td></tr><tr><td colspan="1">ed annually by a resolution of a general meeting for a total</td></tr><tr><td colspan="1">continuous period of 2 years until and including the financial</td></tr><tr><td colspan="1">year 2023/24.</td></tr></table></arr:DescriptionOfQualificationsOfAuditedFinancialStatements>
<arr:KeyAuditMattersAudit contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Key Audit Matters</td></tr><tr><td colspan="1">Key Audit Matters are those matters that, in our professional</td></tr><tr><td colspan="1">judgment, were of most significance in our audit of the Financial</td></tr><tr><td colspan="1">Statements for the financial year 2023/24. These matters were ad-</td></tr><tr><td colspan="1">dressed in the context of our audit of the Financial Statements as a</td></tr><tr><td colspan="1">whole, and in forming our auditorâs opinion thereon, and we do not</td></tr><tr><td colspan="1">provide a separate opinion on these matters.</td></tr><tr><td colspan="1">Key audit matter</td></tr><tr><td colspan="1">Valuation of goodwill</td></tr><tr><td colspan="1">Goodwill amounts to DKK 53 million.</td></tr><tr><td colspan="1">As required by IFRS the valuation of goodwill is tested annually for</td></tr><tr><td colspan="1">impairment. Key assumptions in determining future cash flows are</td></tr><tr><td colspan="1">earnings growth, including in particular revenue growth, contri-</td></tr><tr><td colspan="1">bu-tion margin together including taking into effect the expected</td></tr><tr><td colspan="1">changes in sales prices and the positive effect from cost control ini-</td></tr><tr><td colspan="1">tiatives, changes to working capital as well as the discount rate and</td></tr><tr><td colspan="1">long-term growth rate.</td></tr><tr><td colspan="1">We focused on the valuation of goodwill because the assessment of</td></tr><tr><td colspan="1">impairment requires considerable judgement and estimates by Man-</td></tr><tr><td colspan="1">agement. Reference is made to note 2 âAccounting estimates and as-</td></tr><tr><td colspan="1">sessmentsâ and note 11 âIntangible assetsâ.</td></tr><tr><td colspan="1">How our audit addressed the key audit matter</td></tr><tr><td colspan="1">We assessed the impairment test prepared by Management, includ-</td></tr><tr><td colspan="1">ing the determination of the entire business as one cash generating</td></tr><tr><td colspan="1">unit.</td></tr><tr><td colspan="1">We assessed the assumptions applied by Management in its budgets</td></tr><tr><td colspan="1">and forecasts, including net reve-nue growth, contribution margin</td></tr><tr><td colspan="1">taking into effect the expected decline in sales prices and positive</td></tr><tr><td colspan="1">effect from cost control initiatives, changes to working capital as well</td></tr><tr><td colspan="1">as the determination of discount rate and long-term growth rate.</td></tr><tr><td colspan="1">We compared budgets and plans for prior years with actual figures</td></tr><tr><td colspan="1">realised with a view to assessing the accuracy of the judgements</td></tr><tr><td colspan="1">and estimates previously made by Management. In particular, in</td></tr><tr><td colspan="1">this regard we challenged Managementâs assessment of the future</td></tr><tr><td colspan="1">development in market conditions, foundation for further growth and</td></tr><tr><td colspan="1">initiatives to optimize production methods for the purpose of</td></tr><tr><td colspan="1">improving margins.</td></tr><tr><td colspan="1">We assessed the sensitivity in the value in use of future cash flows</td></tr><tr><td colspan="1">for changes to the assumptions in the budget and forecast period,</td></tr><tr><td colspan="1">in particular the sensitivity relating to the long-term growth in the</td></tr><tr><td colspan="1">terminal period and changes to the discount rate.</td></tr><tr><td colspan="1">We assessed the sufficiency of disclosures about the key assump-</td></tr><tr><td colspan="1">tions applied and the sensitivity for changes in key assumptions.</td></tr></table></arr:KeyAuditMattersAudit>
<arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Statement on Management Review</td></tr><tr><td colspan="1">Management is responsible for the Management Review.</td></tr><tr><td colspan="1">Our opinion on the Financial Statements does not cover the Manage-</td></tr><tr><td colspan="1">ment Review, and we do not express any form of assurance conclu-</td></tr><tr><td colspan="1">sion thereon.</td></tr><tr><td colspan="1">In connection with our audit of the Financial Statements, our respon-</td></tr><tr><td colspan="1">sibility is to read the Management Review and, in doing so, consider</td></tr><tr><td colspan="1">whether the Management Review is materially inconsistent with the</td></tr><tr><td colspan="1">Financial Statements or our knowledge obtained during the audit, or</td></tr><tr><td colspan="1">otherwise appears to be materially misstated.</td></tr><tr><td colspan="1">Moreover, it is our responsibility to consider whether the Manage-</td></tr><tr><td colspan="1">ment Review provides the information required under the Danish</td></tr><tr><td colspan="1">Financial Statements Act.</td></tr><tr><td colspan="1">Based on the work we have performed, we conclude that the Man-</td></tr><tr><td colspan="1">agement Review is in accordance with the Financial Statements and</td></tr><tr><td colspan="1">has been prepared in accordance with the requirements of the Dan-</td></tr><tr><td colspan="1">ish Financial Statements Act. We did not identify any material mis-</td></tr><tr><td colspan="1">statement of the Management Review.</td></tr></table></arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements>
<arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Managementâs Responsibilities for the Financial Statements</td></tr><tr><td colspan="1">Management is responsible for the preparation of Financial State-</td></tr><tr><td colspan="1">ments that give a true and fair view in accordance with the Inter-</td></tr><tr><td colspan="1">national Financial Reporting Standards as adopted by the EU and</td></tr><tr><td colspan="1">addition-al requirements in the Danish Financial Statements Act, and</td></tr><tr><td colspan="1">for such internal control as Management determines is necessary</td></tr><tr><td colspan="1">to enable the preparation of Financial Statements that are free from</td></tr><tr><td colspan="1">material misstatement, whether due to fraud or error.</td></tr><tr><td colspan="1">In preparing the Financial Statements, Management is responsible</td></tr><tr><td colspan="1">for assessing the Companyâs ability to continue as a going concern,</td></tr><tr><td colspan="1">disclosing, as applicable, matters related to going concern and us-</td></tr><tr><td colspan="1">ing the going concern basis of accounting in preparing the Finan-</td></tr><tr><td colspan="1">cial Statements unless Management either intends to liquidate the</td></tr><tr><td colspan="1">Company or to cease operations, or has no realistic alternative but</td></tr><tr><td colspan="1">to do so.</td></tr><tr><td colspan="1">Auditorâs Responsibilities for the Financial Statements</td></tr><tr><td colspan="1">Our objectives are to obtain reasonable assurance about whether</td></tr><tr><td colspan="1">the Financial Statements as a whole are free from material mis-</td></tr><tr><td colspan="1">statement, whether due to fraud or error, and to issue an auditorâs</td></tr><tr><td colspan="1">report that includes our opinion. Reasonable assurance is a high</td></tr><tr><td colspan="1">level of assurance, but is not a guarantee that an audit conducted</td></tr><tr><td colspan="1">in accordance with ISAs and the additional requirements applicable</td></tr><tr><td colspan="1">in Den-mark will always detect a material misstatement when it</td></tr><tr><td colspan="1">exists. Misstatements can arise from fraud or error and are con-</td></tr><tr><td colspan="1">sidered material if, individually or in the aggregate, they could rea-</td></tr><tr><td colspan="1">sonably be ex-pected to influence the economic decisions of users</td></tr><tr><td colspan="1">taken on the basis of these Financial Statements.</td></tr><tr><td colspan="1">As part of an audit conducted in accordance with ISAs and the ad-</td></tr><tr><td colspan="1">ditional requirements applicable in Denmark, we exercise profes-</td></tr><tr><td colspan="1">sional judgment and maintain professional skepticism throughout</td></tr><tr><td colspan="1">the audit.</td></tr><tr><td colspan="1">We also</td></tr><tr><td colspan="1">⢠Identify and assess the risks of material misstatement of the</td></tr><tr><td colspan="1">Financial Statements, whether due to fraud or error, design and</td></tr><tr><td colspan="1">perform audit procedures responsive to those risks, and ob-tain</td></tr><tr><td colspan="1">audit evidence that is sufficient and appropriate to provide a basis</td></tr><tr><td colspan="1">for our opinion. The risk of not detecting a material misstatement</td></tr><tr><td colspan="1">resulting from fraud is higher than for one re-sulting from error as</td></tr><tr><td colspan="1">fraud may involve collusion, forgery, intentional omissions, misrep-</td></tr><tr><td colspan="1">re-sentations, or the override of internal control.</td></tr><tr><td colspan="1">⢠Obtain an understanding of internal control relevant to the audit</td></tr><tr><td colspan="1">in order to design audit pro-cedures that are appropriate in the</td></tr><tr><td colspan="1">circumstances, but not for the purpose of expressing an opinion</td></tr><tr><td colspan="1">on the effectiveness of the Companyâs internal control.</td></tr><tr><td colspan="1">⢠Evaluate the appropriateness of accounting policies used and the</td></tr><tr><td colspan="1">reasonableness of account-ing estimates and related disclosures</td></tr><tr><td colspan="1">made by Management.</td></tr><tr><td colspan="1">⢠Conclude on the appropriateness of Managementâs use of the go-</td></tr><tr><td colspan="1">ing concern basis of account-ing in preparing the Financial State-</td></tr><tr><td colspan="1">ments and, based on the audit evidence obtained, whether a</td></tr><tr><td colspan="1">material uncertainty exists related to events or conditions that may</td></tr><tr><td colspan="1">cast significant doubt on the Companyâs ability to continue as a</td></tr><tr><td colspan="1">going concern. If we conclude that a material uncer-tainty ex-</td></tr><tr><td colspan="1">ists, we are required to draw attention in our auditorâs report to</td></tr><tr><td colspan="1">the related disclo-sures in the Financial Statements or, if such</td></tr><tr><td colspan="1">disclosures are inadequate, to modify our opin-ion. Our conclu-</td></tr><tr><td colspan="1">sions are based on the audit evidence obtained up to the date</td></tr><tr><td colspan="1">of our auditorâs report. However, future events or conditions may</td></tr><tr><td colspan="1">cause the Company to cease to continue as a going concern.</td></tr><tr><td colspan="1">⢠Evaluate the overall presentation, structure and contents of the</td></tr><tr><td colspan="1">Financial Statements, includ-ing the disclosures, and whether</td></tr><tr><td colspan="1">the Financial Statements represent the underlying transactions</td></tr><tr><td colspan="1">and events in a manner that gives a true and fair view.</td></tr><tr><td colspan="1">We communicate with those charged with governance regarding,</td></tr><tr><td colspan="1">among other matters, the planned scope and timing of the audit</td></tr><tr><td colspan="1">and significant audit findings, including any significant deficiencies</td></tr><tr><td colspan="1">in internal control that we identify during our audit.</td></tr><tr><td colspan="1">We also provide those charged with governance with a statement</td></tr><tr><td colspan="1">that we have complied with relevant ethical requirements regard-</td></tr><tr><td colspan="1">ing independence, and to communicate them all relationships and</td></tr><tr><td colspan="1">other matters that may reasonably thought to bear on our inde-</td></tr><tr><td colspan="1">pendence, and where applicable, actions taken to eliminate threats</td></tr><tr><td colspan="1">or safeguards applied.</td></tr><tr><td colspan="1">From the matters communicated with those charged with govern-</td></tr><tr><td colspan="1">ance, we determine those matters that were of most significance in</td></tr><tr><td colspan="1">the audit of the Financial Statements of the current period and are</td></tr><tr><td colspan="1">therefore the key audit matters. We describe these matters in our</td></tr><tr><td colspan="1">Independent Auditorâs Report unless law or regulation precludes</td></tr><tr><td colspan="1">public disclosure about the matter or when, in extremely rare</td></tr><tr><td colspan="1">circum-stances, we determine that a matter should not be commu-</td></tr><tr><td colspan="1">nicated in our Independent Auditorâs Report because the adverse</td></tr><tr><td colspan="1">consequences of doing so would reasonably be expected to out-</td></tr><tr><td colspan="1">weigh the public interest benefits of such communication</td></tr></table></arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements>
<arr:AuditorsReportOnXbrlTagging contextRef="ctx1" xml:lang="da"><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">REPORT ON COMPLIANCE WITH THE ESEF REGULATION</td></tr><tr><td colspan="1">As part of our audit of the Financial Statements of RIAS A/S we</td></tr><tr><td colspan="1">performed procedures to express an opinion on whether the annual</td></tr><tr><td colspan="1">report for the financial year 1 October 2023 to 30 September 2024</td></tr><tr><td colspan="1">with the file name RIAS-2024-09-30-en.xhtml is prepared, in all</td></tr><tr><td colspan="1">material respects, in compliance with the Commission Delegated</td></tr><tr><td colspan="1">Regulation (EU) 2019/815 on the European Single Electronic For-</td></tr><tr><td colspan="1">mat (ESEF Regulation) which includes requirements related to the</td></tr><tr><td colspan="1">preparation of the annual report in XHTML format and iXBRL tag-</td></tr><tr><td colspan="1">ging of the Financial Statements.</td></tr><tr><td colspan="1">Management is responsible for preparing an annual report that</td></tr><tr><td colspan="1">complies with the ESEF Regulation. This responsibility includes</td></tr><tr><td colspan="1">⢠The preparing of the annual report in XHTML format;</td></tr><tr><td colspan="1">⢠The selection and application of appropriate iXBRL tags, includ-</td></tr><tr><td colspan="1">ing extensions to the ESEF tax-onomy and the anchoring thereof</td></tr><tr><td colspan="1">to elements in the taxonomy, for financial information re-quired</td></tr><tr><td colspan="1">to be tagged using judgement where necessary;</td></tr><tr><td colspan="1">⢠Ensuring consistency between iXBRL tagged data and the Finan-</td></tr><tr><td colspan="1">cial Statements presented in human readable format; and</td></tr><tr><td colspan="1">⢠For such internal control as Management determines necessary</td></tr><tr><td colspan="1">to enable the preparation of an annual report that is compliant</td></tr><tr><td colspan="1">with the ESEF Regulation.</td></tr><tr><td colspan="1">Our responsibility is to obtain reasonable assurance on whether the</td></tr><tr><td colspan="1">annual report is prepared, in all material respects, in compliance</td></tr><tr><td colspan="1">with the ESEF Regulation based on the evidence we have obtained,</td></tr><tr><td colspan="1">and to issue a report that includes our opinion. The nature, timing</td></tr><tr><td colspan="1">and extent of procedures selected depend on the auditorâs judge-</td></tr><tr><td colspan="1">ment, including the assessment of the risks of material departures</td></tr><tr><td colspan="1">from the requirements set out in the ESEF Regulation, whether due</td></tr><tr><td colspan="1">to fraud or error. The procedures in-clude</td></tr><tr><td colspan="1">⢠Testing whether the annual report is prepared in XHTML format;</td></tr><tr><td colspan="1">⢠Obtaining an understanding of the companyâs iXBRL tagging pro</td></tr><tr><td colspan="1">cess and of internal control over the tagging process;</td></tr><tr><td colspan="1">⢠Evaluating the completeness of the iXBRL tagging of the Financial</td></tr><tr><td colspan="1">Statements;</td></tr><tr><td colspan="1">⢠Evaluating the appropriateness of the companyâs use of iXBRL</td></tr><tr><td colspan="1">elements selected from the ESEF taxonomy and the creation of</td></tr><tr><td colspan="1">extension elements where no suitable element in the ESEF taxon-</td></tr><tr><td colspan="1">omy has been identified;</td></tr><tr><td colspan="1">⢠Evaluating the use of anchoring of extension elements to ele-</td></tr><tr><td colspan="1">ments in the ESEF taxonomy; and</td></tr><tr><td colspan="1">⢠Reconciling the iXBRL tagged data with the audited Financial</td></tr><tr><td colspan="1">Statements.</td></tr><tr><td colspan="1">In our opinion, the annual report of RIAS A/S for the financial year 1</td></tr><tr><td colspan="1">October 2023 to 30 September 2024 with the file name RIAS-2024-</td></tr><tr><td colspan="1">09-30-en.xhtml is prepared, in all material respects, in compliance</td></tr><tr><td colspan="1">with the ESEF Regulation.</td></tr></table></arr:AuditorsReportOnXbrlTagging>
<arr:SignatureOfAuditorsPlace contextRef="ctx1" xml:lang="da">Roskilde</arr:SignatureOfAuditorsPlace>
<arr:SignatureOfAuditorsDate contextRef="ctx1">2024-12-11</arr:SignatureOfAuditorsDate>
<gsd:InformationOnTypeOfSubmittedReport contextRef="ctx1">Ã
rsrapport</gsd:InformationOnTypeOfSubmittedReport>
<gsd:IdentificationNumberCvrOfSubmittingEnterprise contextRef="ctx1">44065118</gsd:IdentificationNumberCvrOfSubmittingEnterprise>
<gsd:NameOfSubmittingEnterprise contextRef="ctx1" xml:lang="da">Rias A/S</gsd:NameOfSubmittingEnterprise>
<gsd:AddressOfSubmittingEnterpriseStreetAndNumber contextRef="ctx1" xml:lang="da">Industrivej 11</gsd:AddressOfSubmittingEnterpriseStreetAndNumber>
<gsd:AddressOfSubmittingEnterprisePostcodeAndTown contextRef="ctx1" xml:lang="da">4000 Roskilde</gsd:AddressOfSubmittingEnterprisePostcodeAndTown>
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<gsd:PrecedingReportingPeriodStartDate contextRef="ctx1">2022-10-01</gsd:PrecedingReportingPeriodStartDate>
<gsd:PredingReportingPeriodEndDate contextRef="ctx1">2023-09-30</gsd:PredingReportingPeriodEndDate>
<cmn:TypeOfAuditorAssistance contextRef="ctx1">Revisionspåtegning</cmn:TypeOfAuditorAssistance>
<arr:TypeOfBasisForModifiedOpinionOnAuditedFinancialStatements contextRef="ctx1">Grundlag for konklusion</arr:TypeOfBasisForModifiedOpinionOnAuditedFinancialStatements>
<arr:TypeOfModifiedOpinionOnAuditedFinancialStatements contextRef="ctx1">Konklusion</arr:TypeOfModifiedOpinionOnAuditedFinancialStatements>
<ifrs-full:Revenue contextRef="ctx2" unitRef="vDKK" decimals="-3">313144000</ifrs-full:Revenue>
<ifrs-dk:ProductionCost contextRef="ctx2" unitRef="vDKK" decimals="-3">209621000</ifrs-dk:ProductionCost>
<ifrs-full:GrossProfit contextRef="ctx2" unitRef="vDKK" decimals="-3">103523000</ifrs-full:GrossProfit>
<ifrs-full:DistributionCosts contextRef="ctx2" unitRef="vDKK" decimals="-3">73644000</ifrs-full:DistributionCosts>
<ifrs-full:AdministrativeExpense contextRef="ctx2" unitRef="vDKK" decimals="-3">12946000</ifrs-full:AdministrativeExpense>
<ifrs-dk:SpecialItems contextRef="ctx2" unitRef="vDKK" decimals="-3">0</ifrs-dk:SpecialItems>
<ifrs-full:ProfitLossFromOperatingActivities contextRef="ctx2" unitRef="vDKK" decimals="-3">16933000</ifrs-full:ProfitLossFromOperatingActivities>
<ifrs-full:FinanceIncome contextRef="ctx2" unitRef="vDKK" decimals="-3">313000</ifrs-full:FinanceIncome>
<ifrs-full:FinanceCosts contextRef="ctx2" unitRef="vDKK" decimals="-3">1252000</ifrs-full:FinanceCosts>
<ifrs-full:ProfitLossBeforeTax contextRef="ctx2" unitRef="vDKK" decimals="-3">15994000</ifrs-full:ProfitLossBeforeTax>
<ifrs-full:IncomeTaxExpenseContinuingOperations contextRef="ctx2" unitRef="vDKK" decimals="-3">3487000</ifrs-full:IncomeTaxExpenseContinuingOperations>
<ifrs-full:ProfitLoss contextRef="ctx2" unitRef="vDKK" decimals="-3">12507000</ifrs-full:ProfitLoss>
<ifrs-dk:OtherComprehensiveIncomeOtherCost contextRef="ctx2" unitRef="vDKK" decimals="-3">0</ifrs-dk:OtherComprehensiveIncomeOtherCost>
<ifrs-full:ComprehensiveIncome contextRef="ctx2" unitRef="vDKK" decimals="-3">12507000</ifrs-full:ComprehensiveIncome>
<ifrs-full:BasicEarningsLossPerShare contextRef="ctx2" unitRef="share" decimals="1">54.2</ifrs-full:BasicEarningsLossPerShare>
<ifrs-full:DilutedEarningsLossPerShare contextRef="ctx2" unitRef="share" decimals="1">54.2</ifrs-full:DilutedEarningsLossPerShare>
<ifrs-full:AdjustmentsForIncomeTaxExpense contextRef="ctx2" unitRef="vDKK" decimals="-3">3487000</ifrs-full:AdjustmentsForIncomeTaxExpense>
<ifrs-dk:AdjustmentsForDepreciationAndImpairmentLoss contextRef="ctx2" unitRef="vDKK" decimals="-3">8738000</ifrs-dk:AdjustmentsForDepreciationAndImpairmentLoss>
<ifrs-full:AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets contextRef="ctx2" unitRef="vDKK" decimals="-3">40000</ifrs-full:AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets>
<ifrs-full:AdjustmentsForFinanceIncome contextRef="ctx2" unitRef="vDKK" decimals="-3">-313000</ifrs-full:AdjustmentsForFinanceIncome>
<ifrs-full:AdjustmentsForFinanceCosts contextRef="ctx2" unitRef="vDKK" decimals="-3">1252000</ifrs-full:AdjustmentsForFinanceCosts>
<ifrs-dk:DecreaseIncreaseInInventories contextRef="ctx2" unitRef="vDKK" decimals="-3">-4183000</ifrs-dk:DecreaseIncreaseInInventories>
<ifrs-dk:DecreaseIncreaseInReceivables contextRef="ctx2" unitRef="vDKK" decimals="-3">9597000</ifrs-dk:DecreaseIncreaseInReceivables>
<ifrs-dk:DecreaseIncreaseInTradePayables contextRef="ctx2" unitRef="vDKK" decimals="-3">716000</ifrs-dk:DecreaseIncreaseInTradePayables>
<ifrs-full:InterestReceivedClassifiedAsOperatingActivities contextRef="ctx2" unitRef="vDKK" decimals="-3">111000</ifrs-full:InterestReceivedClassifiedAsOperatingActivities>
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<ifrs-full:CurrentLiabilities contextRef="ctx4" unitRef="vDKK" decimals="-3">51169000</ifrs-full:CurrentLiabilities>
<ifrs-full:Liabilities contextRef="ctx4" unitRef="vDKK" decimals="-3">65196000</ifrs-full:Liabilities>
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<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx6" unitRef="vDKK" decimals="-3">25711000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx7" xml:lang="da">Cash flows before financial income and expenses and tax</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
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<ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx8" xml:lang="da">Cash flows before financial income and expenses and tax</ifrs-dk:NameOfComponentOfCashFlowsFromUsedInOperatingActivities>
<ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities contextRef="ctx8" unitRef="vDKK" decimals="-3">31841000</ifrs-dk:AmountOfComponentOfCashFlowsFromUsedInOperatingActivities>
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<ifrs-full:CashAndCashEquivalents contextRef="ctx10" unitRef="vDKK" decimals="-3">34779000</ifrs-full:CashAndCashEquivalents>
<cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx11" xml:lang="da">Karsten Due</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
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<cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx12" xml:lang="da">Dannie Michaelsen</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
<cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx12" xml:lang="da">CFO</cmn:TitleOfMemberOfExecutiveBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx13" xml:lang="da">Martin Koelink</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
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<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx14" xml:lang="da">Peter Sørensen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx14" xml:lang="da">Vice-chairman</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx15" xml:lang="da">Nicolas Neuwirth</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
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<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx16" xml:lang="da">June Svendsen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx16" xml:lang="da">Board Member</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx17" xml:lang="da">Jette Duus</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
<cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx17" xml:lang="da">Board Member</cmn:TitleOfMemberOfSupervisoryBoard>
<cmn:NameAndSurnameOfAuditor contextRef="ctx18" xml:lang="da">Ferass Hamade</cmn:NameAndSurnameOfAuditor>
<cmn:NameOfAuditFirm contextRef="ctx18" xml:lang="da">BDO Statsautoriseret revisionsaktieselskab</cmn:NameOfAuditFirm>
<cmn:DescriptionOfAuditor contextRef="ctx18" xml:lang="da">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
<cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx18">20222670</cmn:IdentificationNumberCvrOfAuditFirm>
<cmn:IdentificationNumberOfAuditor contextRef="ctx18">mne35441</cmn:IdentificationNumberOfAuditor>
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