Assets

Type	Time	Amount	Unit
ifrs-full:Assets	2024-12-31	3787400000	dkk
ifrs-full:Assets	2023-12-31	3242400000	dkk

Revenue

Type	Start date	End date	Amount	Unit
ifrs-full:Revenue	2024-01-01	2024-12-31	5429300000	dkk
ifrs-full:Revenue	2023-01-01	2023-12-31	5261000000	dkk

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   <mrv:SustainabilityReport contextRef="ctx-1" id="f1__s8__7__6-1" xml:lang="en">Business modelSBM-1 AO's omni-channel business model secures a coherent customer experience for  all customers across touchpoints.AO works with more than 1,000 suppliers and is continuously expanding our range of products to target more customers and support one-stop-shopping. Theautomated central warehouse in Albertslund and the logistics centre in Horsens are corner stones in AO. 90% of all products are picked automatically, thus ensuring both high service quality and efficiency. AO's product range and service are promoted across a number of different sales channels that support the individual customer's preference. AO is providing the best of two worlds via value-added digital services and closecustomer relations through our local stores. Modern wholesaling is about offering the right products at the right prices, deliv-ering them at the right time, and making customers' lives as simple and flexible as possible. The AO365 concept is a prime example. With AO365, customers havea digital key to all AO stores, ensuring both convenience and flexibility for each individual customer. AO's employees are a key resource to the success of our business model. Their knowledge and experience bring significant value to the entire value chain.1. 2. SuppliersSuppliersCentral alWarehousntreCeMore than 1,000 suppliers warehousesschanneprovide the widest product etSalelsHVkAAutomated warehouse cCrange in the wholesale rBrvicsSeessolution ready to serve businessomB2BroSgrowth. 600,000 SKUs wtoInohesreavailable for saleSalTradesmenpisCrsra2etiBB2BoAnThe customer  is at the centre of everything that ConsumersConstructionwe do at AO and B2CB2Bhas been at the core ever since we  were founded 3. Sales   BAchannels2OAO eB3lr6employeeaIn5Ste4. nOmnichannel business egcerallwith 55 physical stores tiaServicesWoCanSusitytetainabilalin Denmark and six in ricsrAs a true omnichannel utSweden enabling 8,800 pB2pscpBApsholelyp&amp;WebEbusiness AO offers a daily customer interactions. wide range of services Digital share of sales makes from selfservice through up 53% of revenue. B2C AO365  to advanced Dracustomers are served out in&amp;Sewageproject advice via our of  more than 20 unique competency centreswebshopsIndustry and market trendsAO's strategy is shaped by the prevailing megatrends that exert influence on the current market landscape. These trends present both challenges and significant opportunities for AO's business development.The dominant themes within these market trends revolve around the green transition, climate changes, and the escalating pace of digitalisation.These trends have been categorised into five megatrends that steer our strategic focus areas.Green transitionThe green transition megatrend symbolises a global shift toward sustainability and eco-con-scious practices across industries. It encom-passes CO2 reductions, renewable energy adoption, resource efficiency, and circular economy principles. Consumers increasingly support certified products and services due to environmental certified construction projects and legislative requirements, driving market demand. The recent years have shown that energy prices are a major driver behind green transition demand. AO has a wide range of products that directly service the green transition. In addition, AO aims to be the wholesale company with the best and most accurate data on the environ-mental impact of our products enabling our customers to make informed choices in their purchases.Digitalisation &amp; AIAI amplifies and transforms digitalisation in multiple ways by making digital systems more intelligent, adaptive, and efficient. AI provides great opportunities for efficiency gains and utilises complex and large datasets to develop new and more personalised services. AO has been at the forefront of digitalisation and will continue to be so regarding AI. Providing our customers with tailored user experience, accu-rate data on the products – including ESG data is a key point in being the best partner for our customers.ConsolidationInstallers are increasingly joining forces either by mergers or by joining purchasing organisa-tions. The consolidation is happening within and across installer segments. Larger groups of installers seek to use their purchasing power to get better terms as well as their larger flexi-bility to serve a broader range of customers. AO has good and long experience in working with various purchasing organisations and is in a good position to service these organisations via our omni-channel offerings.Climate changeAs part of the climate change adaptation in both Denmark and Sweden there is a need for investments in the water infrastructure. In both countries Sewage &amp; Drainage as well as Water Supply in general are due for an overhaul. There will be more focus on storing, retaining, and recycling rainwater, including cleaning surface water. The recycling of rainwater after cleaning can be used in connection with increased biodiversity, especially in cities, where there will be a focus on more urban trees, green roofs and walls, and roof terraces. Storing and retaining surface water during cloudbursts and storm floods can prevent flooding of buildings and equipment.AO is in a good position to deliver into these projects. ElectrificationThe electrification agenda is a pivotal shift toward cleaner energy sources, driving inno-vation and sustainability. It encompasses electrifying transportation, revolutionising industries, and advancing renewable energy infrastructure.AO plays a part in the electrification agenda by supplying electrical components, cables, EV chargers, and solar panels.Corporate strategyAt AO, the customer is at the heart of everything we do and develop. We want to create value for our professional and private customers. That’s something we aim to do every single day, and why we say: “We lend a hand”. It builds on AO's genuine and heartfelt interest in understanding the present and future needs of our customers and being able to support them.The Group’s strategy is to serve the professional market via AO in Denmark and Sweden and to serve the private markets in Denmark, Norway and Sweden via our portfolio of differentiated webshops run on a common platform.In the professional market, It is AO’s ambition to be the preferred supplier of technical installation materials for tradesmen and large construction customers. As a rule of thumb, the ReMoVe market represents about 70%, while project sales represent about 30%. Part of the team Towards common goals AO is as much a sparring partner as a wholesaler. AO's projects department creates a And we are proud to be part of the team when the secure framework for large construction tradesmen renovate, modernise and maintain projects. We are not only focused Denmark. It is our strategy to remain the leader on the offer, but also on ensuring in the ReMoVe business by continuing the that your project gets done better, development of the value creation in our omni-cheaper and faster. It is our strategy channel offerings.to become one of the best partners to construction customers, by developing new digital support services.We lend a handActively contributing to It pays to start in  a sustainable world the right place AO wants to be the leading green wholesaler AO has the industry's most complete B2C offer to the construction industry and make within simple home improvements and DIY. We it easy for all installers to comply with are close to the customers with all the inspi-climate requirements, and to ensure ration, advice and service they need. It is our a minimal environmental impact. AO strategy to remain the online leader in DIY, by wishes to help promote a sustainable continuing to offer new product ranges and solu-world by supporting and contributing tions, and thus making DIY easier.to a sustainable construction sector.  Our strategy is to continue to innovate and develop our omni-channel offer-ings – a hybrid business strategy, embracing the human touch in physical and digital touchpoints and securing efficiency, flexibility and scalability via digitalised stores and harvesting the best of two worlds. We will continue to expand our product range and utilise it across target groups.We aim to increase the business in Sweden too as we see a strong potential for organic growth.The larger construction projects are served via our Group projects depart-ment with competencies targeting the special needs of the construction industry. We will increase both the digital, logistics and advisory services, and we will make it easy to comply with the increasing sustainability needs and requirements.In the private DIY market, it's AO’s ambition to be the leading online trading platform for the sale of technical home improvement materials in Denmark and one of the leading online platforms in Sweden and Norway. We will continue to evaluate opportunities within M&amp;A in both B2B and B2C. At AO, we believe that everyone has a duty to manage available resources and opportunities in a responsible way, ensuring the best possible condi-tions for the next generation to build on. That is why we take responsibility through our climate goals: to reduce CO2 by 50% by 2025 in compliance with GHG Protocol scope 1 and 2, and to make AO scope 1 &amp; 2 carbon neutral by 2030. At AO, the customer is at “the heart of everything we do and develop. We want to create value for our professional and private customers. That's something we aim to do every single day, and why we say: "We lend a hand". Strategic ambitionsProfitable growth · It is a strategic priority for AO to maintain and expand the industry's best B2B opportunities and the market's best B2C opportunities.  · The pressure on profit margins is estimated to remain high in the future, but AO will pursue a profitable growth via an ambitious and data-driven purchasing and pricing strategy. · AO has the widest installer coverage with increasing cross-sell across product categories. New growth opportunities await in new business segments and in AO Sweden. · AO´s omni-channel strategy secures both digital efficiency and close customer relations · It´s AO´s ambition to beat the market with a minimum of 2% each year via organic and acquisitive growth High efficiency  It is AO’s ambition to continue to optimise internal and external processes, so that we use our skills for the complex tasks that make a difference for our customers and automate simple manual tasks.   AI has been heralded as the most important technology of our time. We believe in a proactive approach to the use of artificial intelligence across AO.  AO has made substantial investments in optimising efficiency and increasing capacity at the central warehouse in Albertslund and the Logistics Centre West in Horsens. We will continue to exploit these synergies.  It's our ambition to have the highest efficiency in the market and to reach an EBITDA margin of 10%. Solid foundation · AO must attract and retain the industry's best employees with high agility, professionalism and well-being. · At AO, we have the best team in the industry. An organisation rounded out by AO's culture and with the industry's most loyal and experienced employees. The most important thing for AO's future competitiveness is the employees. · IT plays a decisive role in AO's transformational power. It is crucial that AO has an IT landscape that is agile, scalable and future-proof, so that we can use as many resources as possible on development rather than operation. · AO has a strong balance sheet and a robust capital structure, enabling AO to resist headwind and to seize opportunities. AO has a gearing target of an interest-bearing debt in the range 1.0-2.5 times EBITDABoard of DirectorsGOV-1 Brødrene A &amp; O Johansen A/S’ Board of Directors comprises a total of eight members who have been elected to protect the interests of the shareholders as best as possible and to ensure an appropriate and balanced development of the company both in the short and the long term. The Board of Directors oversees the overall and stra-tegic management of the company. · Five members are elected by the General Meeting.The holders of Class B shares have the right to elect one Board member whereas the holders of Class A shares elect the remaining Board members. The elec-tion of Board members representing each individual share class is determined by a simple majority of votes. The Board members are elected for a period of one year after which they may be re-elected. · //Gov-1 In Denmark, the Company’s employees elect three Board members according to the current provisions of the Danish Companies Act. Staff-elected Board members are elected for a term of four years. In addi-tion, the Company’s employees also elect an equiva-lent number of alternates who are elected for a similar term.//Staff-elected Board members have good knowledge of the Company’s activities and contribute in a construc-tive way to the decisions of the Board, and they have the same rights, duties, and responsibilities as Board members elected by the General Meeting.The Board of Directors holds meetings 6-7 times a year. In 2024 additional meetings were held in relation to the three acquisitions.Audit CommitteeThe purpose of the Audit Committee's work is to make an independent assessment of whether the Company's financial reporting, internal control, risk management and statutory audit are appropriate in relation to the Company's and the Group's size and complexity. In 2024, the Board member elected by the Class B share-holders was appointed Chair of the Audit Committee.The Audit Committee has the following tasks: · to monitor and report on the financial reporting process, · to monitor and report on the sustainability reporting proces, · to monitor the efficiency of the Company's internal control, internal audit, if any, and risk management systems, · to monitor the statutory audit of the financial state-ments and sustainability reports, · to monitor and review the independence of the auditor, including reviewing and approving the nature and extent of the external auditor's non-audit services, · to recommend the appointment of auditors including sustainability auditors,MeetingsThe Audit Committee consists of four members who are appointed from and among the Board of Directors. The Audit Committee hold meetings 4-5 times a year. In 2024, additional meetings were held in relation to the implementation of new sustainablity reporting.Nomination CommitteeThe Board of Directors has set up a Nomination Committee consisting of two members responsible for performing the following preparatory tasks: · describing the required qualifications for a given member of the Board of Directors and the Execu-tive Management, the estimated time required for performing the duties of this member of the Board of Directors and the competencies, knowledge and experience that are or should be represented in the two management bodies, · on an annual basis evaluating the Board of Directors and the Executive Management’s structure, size, composition, and results and preparing recommen-dations for the Board of Directors for any changes, · in cooperation with the chairperson handling the annual evaluation of the Board of Directors and assessing the individual management members’ competencies, knowledge, experience, and succes-sion as well as reporting on it to the Board of Direc-tors, · handling the recruitment of new members to the Board of Directors and the Executive Management and nominating candidates for the Board of Directors' approval, · ensuring that a succession plan for the Executive Management is in place, · supervising Executive Managements’ policy for the engagement of executive employees, and · supervising the preparation of a diversity policy for the Board of Directors’ approval.Remuneration committeeThe Remuneration Committee is made up of two members who are appointed from among the Board of Directors. The committee is responsible for: · preparing a draft remuneration policy for the Board of Directors’ approval prior to the presentation at the general meeting, · providing a proposal to the Board of Directors on the remuneration of the members of the executive management, · providing a proposal to the Board of Directors on the remuneration of the Board of Directors prior to the presentation at the General Meeting, · ensuring that the management’s actual remuneration complies with the Company’s remuneration policy and the evaluation of the individual member’s perfor-mance, and · assisting in the preparation of the annual remunera-tion report for the Board of Directors’ approval prior to the presentation for the General Meeting's advi-sory vote.Participation in Board meetings in 2024Audit  Remuneration  Nomination  Board member Board MeetingsCommitteeComitteeComitteeHenning Dyremose   Erik Holm    Peter Gath      Niels A. Johansen    Ann Fogelgren     René Alberg    Leif Hummel      Marlene L. Jakobsen      Meeting participation in 2024 % 96.9% 100% 100% 100%* During the year, two Board meetings were held on short notice. In each case, the Board was represented by seven of the eight members,  and the member who could not attend was briefed and consulted beforehand.Board evaluation procedureThe Board of Directors annually assess and evaluate the competence, knowledge, and experience of the individual members of the Board of Directors and the Executive Management and report their findings to the Board of Directors.In 2024, the Board of Directors conducted an evaluation of the Board of Directors and its individual members. As in 2023, this year's evaluation was conducted thorugh a questionnaire provided to each individual member of the Board of Directors by an external service provider. The evaluation included, effectiveness, performance, and composition of the Board of Directors. The evalu-ation concluded that the Board of Directors is working well, forwarded material is of high quality, the Board of Directors has the right competencies, and that there is a high degree of satisfaction with the cooperation between the Board of Directors and Executive Manage-ment.Proposals for the Annual General MeetingThe Annual General Meeting will be held completely electronically at 1 p.m. on March 21 2025.1. Allocation of profitsThe net profit for the year amounts to DKK 163.4m. The Board of Directors proposes to distribute a dividend of DKK 3.0 per DKK 1 share, corresponding to around 50% of the profit after tax for the year and 300% of the share capital.2. Approval of remuneration policyThe Board of Directors proposes that the Annual General Meeting approves the amended remuneration policy adopted by the Board of Directors. The full text of the revised remuneration policy is attached to the notice to attend the Annual General Meeting.3. Authorisation to acquire own sharesThe Board of Directors proposes that it be authorised by the General Meeting during the period until 1 May 2026 to let the Company acquire own shares equiva-lent to a total of 10% of the Company’s share capital at the time of being granted authorisation, provided that the Company’s total holding of own shares at no point exceeds 10% of the Company’s share capital. The consideration must not deviate by more than 10% from the official price quoted at Nasdaq Copenhagen at the time of acquisition.4. Authorisation of the ChairThe Board of Directors proposes that the Chair of the Annual General Meeting (with the right of substitution) be authorised to register the resolutions passed by the Annual General Meeting with the Danish Business Authority and to make such alterations as the Danish Business Authority may require for registration or approval.Members of the Board of DirectorsHenning  Baunbæk DyremoseChairBorn: 1945Joined: 1997, Chair since 2007Nationality: DanishDeputy Chair of the Audit Committee, Chair of the Remuneration and Nomination CommitteesElected by Class A shareholdersAs Henning Dyremose has been a member of the Board of Directors for more than 12 years, he cannot, according to the ‘Danish Recommendations on Corporate Governance’, be characterised as being inde-pendent of special interests.QualificationsBroad leadership experience in business, finance and politicsExperience as managing director of a wholesale company with the same customers as Brødrene A &amp; O Johansen A/SFormer Minister of FinanceManagerial PostsChair of the Board of AO Invest A/SCEO of Henning Dyremose ApS; HD Invest, Virum ApS; HCE Invest, Virum ApS; CD Invest, Virum ApS and Elly Dyremose ApSShare ownership59,770 (59,770) Class B shares. No trades in AO shares in 2024.Erik  HolmDeputy ChairBorn: 1960Joined: 2009Nationality: DanishMember of the Audit Committee, Deputy Chair of the Remuneration and Nomination CommitteesElected by Class A shareholdersAs Erik Holm has been a member of the Board of Directors for more than 12 years, he cannot, according to the ‘Danish Recommendations on Corporate Governance’, be characterised as being independent of special interests.QualificationsExperience as managing director of a wholesale company with the same customers as Brødrene A &amp; O Johansen A/SBroad leadership experience in sales, finance, and logistics, both in Denmark and internationallyExperience of Board work in other listed companiesManagerial PostsChair of the Boards of CR EL &amp; TEKNIK A/S, Norr11 Holding ApS, Norr11 International ApS, Hotel Kold-ingfjord A/SDeputy Chairman of the Boards of SP Group A/S, Arvid Nilssons Fond and AO Invest A/SMember of the Boards of Miluda Invest ApS, Dragsholm Slot P/S, Hotelselskabet af 8. februar 2018 K/S and Tokyo Topco Limited (Sticks 'n' Sushi)CEO of Erik Holm Holding ApS, JU-CH Holding Aps and Lullula ApSShare ownership0 (0) Class B shares. No trades in AO shares in 2024.Ann  FogelgrenMemberBorn: 1974Joined: 2023Nationality: SwedishMember of the Audit CommitteeElected by Class A shareholdersAccording to the ‘Danish Recommendations on Corporate Governance’ Ann Fogel-gren is considered to be independent of special interests.Qualifications PhD in Information Systems from Copenhagen Business School in 2005Chief Information Officer of GN Store Nord A/S Former CIO posts at a number of large Danish companies Former CDOIn depth knowledge of strategic IT solutions and AI technologyManagerial PostsMember of the Board of AO Invest A/SShare ownership0 (0) Class B shares. No trades in AO shares in 2024.Peter  GathMemberBorn: 1965Joined: 2023Nationality: DanishChair of the Audit CommitteeElected by Class B shareholdersAccording to the ‘Danish Recommendations on Corporate Governance’ Peter Gath is considered to be independent of special interests.QualificationsState-authorised public accountant in 1996Cand.jur. (Master of Law) in 1991Certified Sustainablility Auditor in 2024Former long term Audit Partner at KPMG and EY and former Chair of FSR (The Institute of State-Authorised Public Accountants in Denmark)Former external auditor for Brødrene A &amp; O Johansen A/SManagerial PostsChair of the Board of FSRs Studie- &amp; Understøttelsesfond and Fonden Johannes Hages HusMember of the Board of AO Invest A/S, Milde-Fonden, Lyn Mildé A/S, Konsolidator A/S and Board Office A/SCFO of St. Jørgen Holding ApS and CEO of Strategia Finans ApSShare ownership7,000 (7,000) Class B shares. No trades in AO shares in 2024.Niels  A. JohansenMember Born: 1939Joined: 1979Nationality: DanishElected by Class A shareholdersAs Niels A. Johansen has been a member of the Board of Directors for more than 12 years, he cannot, according to the ‘Danish Recommendations on Corporate Governance’, be characterised as being independent of special interests.QualificationsLong-time managerial experience as CEOIn-depth knowledge of the wholesale industry of installation materials in Denmark and the rest of EuropeManagerial PostsChair of the Board of Directors of Avenir Invest ApS.Niels A. Johansen is the CEO and member of the Board of Directors of a consol-idated company and the Chair of the Board of Directors of three consolidated companiesShare ownership28,270 (28,270) Class A shares and 2,810,400 (2,810,400) Class B shares. No trades in AO shares in 2024.René  AlbergEmployee-elected memberElected in 2022, term expires in 2026 Born: 1971Joined: 2006Nationality: DanishProduct ManagerShare ownership500 (500) Class B shares. No trades in AO shares in 2024.Leif  HummelEmployee-elected memberElected in 2022, term expires in 2026Born: 1963Joined: 2022Nationality: DanishFacility ManagerShare ownership5,200 (5,200) Class B shares. No trades in AO shares in 2024.Marlene  L. JakobsenEmployee-elected memberElected in 2022, term expires in 2026Born: 1983Joined 2022Nationality: DanishStore ManagerShare ownership364 (294) Class B shares. Acquired 70 Class B shares in 2024.Executive BoardGOV-1Niels  A. JohansenCEOBorn: 1939Chair of the Board of Directors of  Avenir Invest ApS.Niels A. Johansen is the CEO and member of the Board of Directors of a consolidated company and the Chair of the Board of Directors of three consolidated companiesHolds 28,270 (28,270) Class A shares and 2,810,400 (2,810,400) Class B shares either directly or indirectlyPer  ToelstangCFO, Deputy CEOBorn: 1966CEO ofMP Toelstang Holding ApS, Toelstang Invest ApS,Ridersclub ApSChair of the Board of Directors of Høvegaard ApSMember of the Board of Directors ofKohberg Bakery Group A/SHolds 20,000 (20,000) Class B shares either directly or indirectlyStefan  Funch JensenCTOBorn: 1974Holds 0 (0) Class B shares either directly  or indirectlyLili  JohansenCHRO Born: 1957Member of the Board of Directors of  Avenir Invest ApS.Holds 28,110 (28,110)  Class A shares and 360,000 (360,000) Class B shares either directly or indirectlyAO Management TeamJeanette Roed BerthelsenCSO, HVAC &amp; ProjectsTorben ChristiansenCSO, ConstructionLars KestnerCSO, ElectricalsGitte LindeskovCIOIan SchlottmannCPOSebastian SigvaldasonLogistics DirectorSustainability statement41  Executive Summary Executive Summary AO’s Sustainability Statement for 2024AO believes that we all have a common responsibility to manage resources and opportunities in a responsible way to ensure the best possible conditions for the next generation to build upon.AO is committed to participate in creating a positive change in the construction and installation industry by helping our customers achieving sustainable growth.This can be done by setting a good example, by working with the value chain to reduce negative ESG impacts, and most importantly, by making it easy for the AO's customers to comply with sustainability demands and progress in their own sustainability efforts.In 2024 AO has taken significant steps towards inte-grating ESG further into its business strategy. AO aims to  be the Everyday Green Partner for its customers by delivering products and services enabling the customer to deal with sustainability requirements and make a positive impact.The employees are the core of AO, and they are crucial to the company’s success and results. AO is committed to being a socially responsible business and providing the best possible working conditions for our employees.In 2025 AO will be focusing on further increasing the overall employee satisfaction. Finally, 2024 was a busy year with 3 new companies joining the AO family introducing new opportunities to make a positive impact in the industry.Highlights of 2024 include:→   AO's 1.5° near-term 2030 target and our net zero target by 2045 has been validated by Science Based Targets initiative (SBTi).→   The goal is to reduce scope 1 and 2 CO2-emis-sions for AO Denmarks activities by 50% in 2025 compared with 2020 is well on track.→   Fossil fuels across Denmark, Sweden, and Norway has almost been eliminated with the only exceptions of gas heating in a few locations and a few heavy vehicles that cannot be electrified yet. →   All gas forklifts have been replaced by electric forklifts→  47% of AO's employees have worked for AO for more than 5 years→   AO's whistleblower scheme has been expanded to include external stakeholders →   Finally, AO has strengthened its position as the Everyday Green Partner by increasing the efforts to meet customers’ demands for environmental data and services for sustainability certified construction projects. This will continue to be a key priority in the years to come.ESG timeline 1998199920002008 · AO developed and implemented  · ISO 14001 certification for 63% of waste  · Logistics center in Horsens its first environmental policyheadquarters and central sorted for receives ISO 14001-certificationwarehouserecycling2021202020122010 · First annual ESG report · First scope 1 &amp; 2 CO2-baseline 80% of waste  · First annual CSR report · Whistleblower scheme was year for AO Denmarksorted for introduced in AOrecycling202220232024 · First Taxonomy reporting · AO Denmark reduced CO2-emissions by  · Science Based climate targets validated by SBTi · Creation of a climate and  · Full implementation of CSRD in the sustainability statementsustainability department · All passenger cars are changed to pure electric. 30%  · First CO2 goal for AO Denmark  · All gas heating except for three locations is changed to district activities in scope 1 &amp; 2: 50% in one year due to massive phasing out of fossil fuels.heating or heating pumpsreduction in 2025 by phasing  · New solar roofs were introduced in our Central  · AO Sweden’s ISO-certifications covered both environmental, quality out fossil fuels across AOWarehouse in Albertslund covering appr. 15% of and health &amp; safety management (ISO 14001, 9001 and 45001)electrical usage. · AO Denmark’s ISO-certifications covered both environmental and quality management (ISO 14001 and 9001)Sustainability is an integrated part of our strategic vision and business strategyIn line with our commitment to create a positive change in the construction and installation industry,  AO helps the customers achieving sustainable growth.  AO believe it can be done by setting a good example and by working with the value chain to reduce nega-tive ESG impacts, and most importantly, by making it easy for the customers to choose the more sustain-able path forward. ESG is now fully incorporated in our strategy and represents a cornerstone in the strategic vision. At AO sustainability is seen as a way to help customers reach their objectives more effectively and responsibly.  Part of the team AO is as much a sparring partner as a wholesaler. And we are proud to be part of the team when the tradesmen renovate, modernise and maintain Denmark. It is our strategy to remain the leader in the ReMoVe business by continuing the development of the value creation in our omni-channel offerings.It pays to start in  the right place AO has the industry's most complete B2C offer within simple home improvements and DIY. We are close to the customers with all the inspi-ration, advice and service they need. It is our strategy to remain the onlineleader in DIY, by continuing to offer new product ranges and solu-tions, and thus making DIY easier.Towards common goals AO's projects department creates a secure framework for large construction projects. We are not only focused on the offer, but also on ensuring that your project gets done better, cheaper and faster. It is our strategy to become one of the best partners to construction customers, by developing new digital support services.Actively contributing to a sustainable world AO wants to be the leading green wholesaler to the construction industry and make it easy for all installers to comply with climate requirements, and to ensure a minimal environmental impact. AO wishes to help promote a sustainable world by supporting and contributing to a sustainable construction sector.  AO’s climate targets have been validated by the SBTiThe Science Based Targets initiative (SBTi) is a globally recognised organisation that validates corporate climate targets based on the latest climate science. By having AO's targets validated by SBTi, AO demonstrates that our climate ambitions align with the necessary efforts to limit global warming to 1.5°C. This validation ensures that AO's near-term and net-zero goals are credible and in line with interna-tional climate action standards.AO's targets represent a significant step forward in setting new benchmarks for climate ambition.Near-term targetAO is committed to reducing absolute Scope 1 and 2 GHG emissions by 80% by 2030, using 2022 as the base year. Addi-tionally, AO commits to a 42% reduction in absolute Scope 3 GHG emissions within the same timeframe.Net-zero targetAO commits to reach net-zero greenhouse gas emissions across the value chain by 2045.Progress on AO's Science Based Targets initiative validated CO-reduction targets2 81%  Cat 11 - Use of Sold Products 16%  Cat 1 - Purchased G&amp;S 2%  Cat 4 - Upstream Transportation &amp; Distribution 1%  Other categories 82% Cat 11 - Use of Sold Products 15%  Cat 1 - Purchased G&amp;S 2%  Cat 4 - Upstream Transportation &amp; Distribution 1%  Other categories 72% Cat 11 - Use of Sold Products 24%  Cat 1 - Purchased G&amp;S 2%  Cat 4 - Upstream Transportation &amp; Distribution  2 %  Other categoriesWe are making significant progress in reaching AO's goal of sorting 90% of all waste Waste sorting is the area where our employees have the greatest environmental impact.To strengthen our efforts, we have implemented a waste sorting scheme across AO, leading to a significant improvement — particularly in our stores, where the potential is highest. In the coming years, we will further enhance waste sorting across AO, working towards our long-term goal of achieving a 90% sorting rate.The employees are the core of our businessThere is room and opportunities in AO throughout lifeSeniority levels in the workplace5%of AO Group staff are trainees. It is important to 34%AO to ensure the right mix of 0-2 yearsskills and to help trainees get 47%a good start in their career19%of AO's employees has 3-5 yearsworked for AO for more than 5 years16%6-10 years 31%More than 10 yearsGovernanceAchieving progress through ISO management systemsAO believes that goals and best practices should set the standard across all aspects of the business. AO is committed to maintaining structured processes and continuous improvement in quality, environmental management, and occupational health and safety through internationally recognised ISO certifications. In Denmark, AO currently hold ISO 9001 and ISO 14001 certifications. AO is actively working towards ISO 45001 certification in Denmark, which AO expect to achieve in 2025. This will further strengthen AO's commitment to a safe and healthy work environment for all employees.AO's operations in Sweden are certified according to ISO 9001 (quality management), ISO 14001 (environ-mental management), and ISO 45001 (occupational health and safety).ISO certifications also play a key role in tender processes, where they serve as a recognised frameworkfor structured processes and continuous improvement.Looking ahead to 2025, AO's goal is to ensure that all parts of the AO Group, including recently acquired businesses, are included in our ISO certifications, rein-forcing AO's dedication to systematic management and long-term progress.Basis of preparation General basis for preparationThe sustainability statement covers the AO Group's operations, including all subsidiaries and the latest businesses acquired by the Group in 2024. The format is similar to that of the financial statement.In the event of acquisitions or divestments, the Sustain-ability Statement is following the same principles as the Financial Statements.Value Chain CoverageThe sustainability statement explicitly includes impacts of upstream, own operations and downstream aspects of AO's value chain, reflecting the company's role as a construction wholesaler. The upstream value chain encompasses the whole lifecycle of the upstream activities including extraction of raw materials, trans-portation and production and their associated impacts, risks, and opportunities (IROs), while the downstream value chain covers all impacts of our customers and end users including transportation, usage and disposal. The specific IRO’s for both upstream, own operations and downstream will be mentioned in the beginning of each ESRS-section in the sustainability statement.AO sustainability statement covers the whole upstream and downstream value chain informed by AO’s double materiality assessment and an ESG-survey conducted as AO’s due diligence process. · Upstream: AO evaluates the sustainability perfor-mance of its suppliers through shared information and ongoing collaboration. Key IROs identified are based on desktop research of the impacts of the various parts of our value chain and knowledge about the environmental impact on the products we purchase. · Downstream: AO assesses the IRO’s related to the use and disposal of its products by customers using desktop research about the impact of our industry as well as specific knowledge on the impact of the products we sell.Furthermore, AO has close corporation with suppliers and customers as well as knowledge on the impact of its activities including the products AO sell, which informs AO's assessments.The value chain coverage is in accordance with any specific requirements related to the value chain in other ESRS and the IRO’s for each ESRS can be found in the beginning of each ESRS section. AO has no associates or joint ventures. AO has not used the option to omit a specific piece of information corresponding to intellec-tual property, know-how or the results of innovation.AO has not used exemption from disclosure of impending developments or matters in the course of negotiation.Disclosures in relation to specific circumstancesTime horizonsIn the process of stating AO's impacts, risks and oppor-tunities for the Group's double materiality assessment and material topics, the definition in ESRS 1 section 6.4 for time horizon has been used. If estimation has been made with a time horizon deviating from the used definition, it will be clearly stated.The time horizons applied for the sustainability state-ment: · Short-term (within reporting year): Immediate oper-ational adjustments and mitigation strategies for identified high-risk sites. · Medium-term (end of reporting year to 5 years): Integration of formal climate scenario analyses and adaptation of business strategies accordingly. · Long-term (5+ years): Ongoing evaluation and adjustment of AO's business model to align with evolving climate-related trends and regulations.Sources of estimation and outcome uncertainty In AO's calculations based on data and estimates from its business and value chain, the basis and accuracy of the calculation will be stated, regarding quantitative measurement techniques and monetary amounts along with uncertainty of estimations of the future.Preparation of ESG performance data requires Manage-ment to make estimates in some areas, which affect the reported data. Management forms its estimates based on historical experience, independent advice, in-house specialists and other information believed to be reasonable under the circumstances. AO has identified following metrics subject to uncertainty and estimates: - Scope 3 emissions (Page 71)No changes in reporting or reporting errors There are no changes or errors in the sustainability statement compared to last year as this is the first year of reporting a full sustainability statement.Segment information There are no material ESRS sectors for AO and no group, products, services or customer accounts for more than 10% of our revenue.List of disclosure requirements incorporated by reference  · Strategy, Business Model, and Value Chain        SBM-1 - Strategy, page 13-17 · Headcount of employees by geographical areas        SBM-1 - Social, page 99 · Composition and diversity of administra-tive, management and supervisory bodies                     GOV-1 - Corporate governance, page 31-36Sustainability governanceGroup sustainabilityAO manages and controls our business in a responsible manner ensuring honesty and integrity in the way AO does business.The sustainability in AO is governed by the ESG Council, which consists of the Executive Board and the head of Climate &amp; Sustainability (1 female and 4 males).AO's permanent taskforce for the green transition in AO reports to the head of Climate &amp; Sustainability.Strategy and implementation of ESG initiatives as well as material IROs are discussed at monthly meetings in the ESG Council.These meetings provide the possibility to inform and address views from affected stakeholders on sustain-ability-related impacts. The ESG Council reports to the Board of Directors multiple times a year. When presenting initiatives, no trade-offs has been identified during the assessment.The ESG Council leverages the expertise of subject matter experts with in-depth knowledge of sustaina-bility matters within the organisation.Governance structureYou can read more about AO's Board composition and governance structure in the Corporate Governance section on page 29, where you can also find informa-tion on the experience and background of the Board of Directors and Executive Board cf. DR ESRS GOV-1.The role of the administrative, management and supervisory bodiesClear policies and guidelines for how to conduct and do business are important for AO. Management and other administrative roles and leaders are expected to set a good example. AO’s policies and guides for business conduct are built upon many years of experience doing business in the wholesale industry. This experience is based on management in sales, finance, logistics, and IT. In addition, valuable knowledge is acquired through the Board of Directors’ experience with global stan dards. The acquired experience is important to follow, maintain and keep relevant, both for AO and its busi-ness partners.Sustainability targetsEnvironmental targets on decarbonisation reductions in AO's own operations, environmental information and impact on products sold and circularity improvement targets have been approved by the ESG-Council and Board of Directors.Governance of the sustainability targets transpires throughout the organisation from procurement to sales and service, by assigning ownership to the permanent taskforce. This results in a matrix-based governance model.ESG-related topics are being monitored monthly by the ESG Council and regular risk assessments with ESG topics have been established and included, along with internal controls and documentation of ESG related data.A transition plan is endorsed by AO's management and supervisory bodies, with focus on energy efficiency and transition to renewable energy, both within AO's operations and across its value chain.The foundation for AO’s environmental efforts is the ISO 14001 environmental management system, where AO's policies and procedures to support the climate and environmental policy are audited every year.AO's most significant climate and environmental impact lies within the value chain, meaning a crucial part of the task is collaborating with customers and suppliers to drive change in the industry.As the Everyday Green Partner, AO assists the customers in their green transition by offering environ-mental data, products, and services that support more sustainable constructions and societies.AO submitted a target to reduce absolute Scope 1 and 2 GHG emissions by 80% by 2030 from a 2022 base year and reach net-zero greenhouse gas emissions across the value chain by 2045, which was validated by SBTi. AO’s waste targets are not based on any significant assumptions but inspired by legislation and driven by AO’s environmental ambitions.AO informs its executive team and board of directors about sustainability matters through robust govern-ance mechanisms, business ethics training, whistle-blower systems, audits, transparent communication, and proactive supplier management. These measures enable the company to address sustainability issues effectively and maintain high ethical standards.Sustainability matters addressed by AO in 2024In 2024, the ESG Council prioritised discussions on key sustainability impacts, risks, and opportunities aligned with AO's sustainability objectives and compli-ance frameworks. The Council’s efforts focused on four primary areas:1. Climate action and resource managementThe Council reviewed initiatives to transition AO’s opera-tions away from fossil fuels, with specific projects initiated at selected sites to support renewable energy adoption. Waste management improvements were also discussed, with strategies to enhance waste sorting across locations, aiming to embed best practices and improve transparency to support AO’s environmental goals.2. Sustainable partnerships and innovationRecognising the importance of circular economy princi-ples, the Council has approved a new research initiative  to focus on circular economy opportunities for AO. Additionally, opportunities to invest in biodiversity and sustainable procurement were explored. The Council evaluated Power Purchase Agreements (PPAs) as part of its green energy procurement strategy, deciding to re-evaluate long-term financial instruments in this area in the future. 3. Sustainability strategy and reportingThe ESG Council played an instrumental role in guiding AO’s strategic roadmap for sustainability, involving departments across the green transition taskforce, finance, and HR to build a flexible, sustainable strategy that aligns with AO’s ESG vision. To ensure compliance, the ESG Council also addressed ISO 14001 environ-mental certification requirements, aligning audits to drive consistency in environmental and quality manage-ment across all business units.4. Environmental awarenessAO increased the visibility of its environmental commit-ments to raise awareness of environmental impacts both internally and externally. These discussions are an attempt to pursue a proactive approach to sustain-ability, embedding compliance, and driving long-term value creation in line with stakeholder expectations and regulatory requirements.Integration of sustainability-related performance in incentive schemesThe incentive schemes and remuneration policies related to the Executive Board are currently not linked to sustainability or climate-related targets. Inclusion of sustainability and climate-related targets in future incentive schemes will be evaluated.Risk management and internal controls over sustainability reportingIn the reporting of the sustainability statement AO is exposed to risk of human error and incomplete data, as the process of data collection consist of data from multiple external sources and manual collection and handling of data. To best mitigate the risks, automated data collection processes have been established, where possible, and data is thoroughly analysed and reviewed.The business environment is becoming increasingly volatile, with economic fluctuations and societal changes occurring at a faster pace. In this context, managing risks and identifying potential threats to AO’s business are crucial components of AO's governance. The most significant risks to the company are regularly monitored, and if deemed material, they are disclosed in company announcements, as well as in interim and annual reports.In recent years, the nature of business risks has evolved, with digital risks and cyber threats becoming more prominent due to the rapid growth of globalisation and digitalisation. This has heightened the need for robust contingency plans to ensure that the company is prepared for potential incidents, such as cyberattacks or data breaches.AO monitors these emerging risks on a regular basis and implement contingency measures to safeguard its operations. By staying vigilant and adaptable, AO ensures that the company is well-prepared to address current threats and protect the long-term sustainability of the business. AO’s commitment to risk management reflects its broader dedication to responsible business conduct and maintaining the trust of stakeholders.StrategyStrategy, business model and value chainThe integration of the three newly acquired businesses in 2024 has not changed the significance of the type of products and services AO offers or the markets and customer groups AO focuses on. AO's sustainabili-ty-related goals and strategy remain the same after the integration.Please read more about AO's strategy, business model and value chain in the Strategy section in page 13-17.StakeholdersCustomers Employees Suppliers Environment Shareholders Interests and views of stakeholdersAO's customers are its most important stakeholders. AO is customer-driven, guided by the principle 'Customer is King' in everything it does. AO strives to be the main and preferred partner for its customers and continuously aims to deliver first class service, by understanding their needs.EmployeesAO's employees are key to its success. AO is committed to provide the employees a mean-ingful and engaging workplace with room for growth and develop-ment in a safe and healthy envi-ronment for its employees.AO engages with its employees through different channels, by sending updates on the business through the intranet, developments conversation with managers, the Worker Councils and employee surveys. AO also has a whistleblower system for employees to raise concerns and awareness of any issues.SuppliersAO relies on strong partner-ships and open dialogue with its suppliers to operate effectively and profitably. Ongoing supplier relationships are crucial for AO to meet its targets, as its main ESG-impacts are closely linked to the production and use of the products it sells.EnvironmentThe environment is directly affected by the actual and poten-tial negative impacts of AO's business activities. From the extraction of raw materials to the energy consumed during product use and the challenges of waste disposal for outdated or damaged items, every stage of the lifecycle has environmental consequences. AO recognise its responsibility to minimise these impacts and adopt sustainable practices that protect the planet for future generations.ShareholdersAO is listed on Nasdaq Copen-hagen, an international market-place for Danish Securities.It requires regular engagement with shareholders, analysts and others interested in Ao's business. This is managed through the investor relations department, which participates in conference calls, briefings, and general dialogue, to ensure clear financial commu-nication.Interests and views of stakeholdersThe administrative, manage-ment and supervisory bodies are informed about the relevant views and interests of affected stake-holders when assessing various sustainability initiatives.Significant decisions are presented to and discussed by the Executive Board and, where appro-priate, the Board of Directors. These meetings also provide the possibility to inform and address views from affected stakeholders on sustainability-related impacts, when relevant.Material impact risks and opportunitiesImpact, risk or Actual  Positive  Value opportunityor potentialor negativechain Time horizonE1 Climate changeE1 Climate Climate change adaptation plays a significant role in three of AO's vital product categories: VA (water Opportunity Actual Positive Downstream Long termchange supply and drainage), VAGA, and VVS (heating, plumbing and sanitary ware). By offering products in these adaptationcategories, AO actively contribute to assisting communities in adapting to the growing impact of extreme weather events such as floods, droughts, and rising sea levels. Thus, climate change adaptation is highly relevant in the downstream segment of AO's value chain.E1 Climate Our direct CO22 footprint is limited (scope 1 and 2). The majority of AO's overall CO footprint lies in indirect Impact Actual Negative Upstream, own Medium termChange emissions (scope 3), including emissions from the manufacturing of AO's products sold to customers, operations and mitigationtransportation of goods from manufacturers to AO and to customers, as well as emissions from customers' downstreamuse and disposal of AO's goods.E1 Energy Our direct CO22 footprint is limited (scope 1 and 2). The majority of AO's overall CO footprint comes from Impact Actual Negative Upstream, own Medium termindirect emissions (scope 3), including emissions from the manufacturing of AO's purchases, transporta-operations and tion of goods from manufacturers to AO and to customers, as well as emissions from customers' use and downstreamdisposal of AO goods.E2 PollutionE2 Substances The relationship with Substances of Very High Concern (SVHCs) is essentially indirect and is largely Impact actual Negative Upstream and Medium termof very high connected to upstream and downstream activities. This includes substances like certain heavy metals, downstreamconcerncarcinogens, mutagens, or persistent organic pollutants that may originate from suppliers' manufacturing processes or may be components within the products AO acquire and distribute to customers. In addition, our product line includes a multitude of chemicals commonly used in the construction industry. Among these are substances categorized as SVHCs due to their considerable health and environmental impacts. The handling, utilisation, and eventual disposal of these substances can result in their release into the environment, impacting both ecosystems and potentially human health.Impact, risk or Actual  Positive  Value opportunityor potentialor negativechain Time horizonE5 Resource use and circular economyE5 Resource Resource inflows have implications for resource use, both within the operations and along the broader Impact Actual Negative Upstream and Medium terminflows, value chain. Although we do not produce our own materials, our operations rely on virgin resources for own operations including packaging and distribution. Additionally, products we source are possibly manufactured using raw mate-resource userials extracted from mines or natural areas. This extraction process can have substantial environmental impacts.E5 Resources As a technical installation wholesale company, the resource outflows are significantly tied to the products Impact Actual Negative Downstream Medium termoutflows related and services, spanning across their life cycle from distribution to end-of-life. Upon product distribution, and own oper-to products and resource outflows primarily encompass packaging materials. The packaging used to protect and trans-ationsservicesport our products, such as cardboard, plastic wrap, and pallets, can become waste after delivery. At the customer's end, the products, once transformed into buildings or other construction projects, embody significant resource outflows. Construction waste, which includes unused materials and by-products of the building process, represents a substantial portion of this outflow. When the products reach the end of their life cycle, incorrect treatment can cause loss of valuable resources, which can be avoided by repurposing or recycling.E5 Waste Impact on waste generation and management is significant and can be categorised into three main Impact Actual Negative Downstream Medium termareas: upstream activities, operations, and downstream activities. Upstream, suppliers in the extraction, and own oper-processing, and manufacturing of raw materials contribute to waste generation. For example, the mining ationsand refining of metals or the manufacturing of construction materials often result in a substantial amount of waste, including unused raw materials, by-products, and packaging materials. In the operations, waste is generated primarily through the warehouses, shops and packaging materials and unsold or expired products. The facilities also generate typical office waste, such as paper, plastics, and electronic waste. Downstream, the products AO distributed can contribute to waste at the end of their life cycle. Construction materials and other products that are not fully used or recycled can end up as waste in landfills or other disposal sites. Impact, risk or Actual  Positive  Value opportunityor potentialor negativechain Time horizonS1 Own workforceS1 Working Secure employmentImpact Actual Negative Own Medium termconditionsIn general AO utilises temporary workers to address fluctuations in activity driven by market devel-operationsopment. In the recent market downturn AO has not made significant redundancies but in a recession scenario that would be an inherent risk. In relation to M&amp;A activities realisation of synergies could result in redundancies on a limited scale. Working timeImpact Actual Negative Own Medium termPressure on specific groups of employees at peak times both in stores and in the administration can lead operationsto stress both in the warehouse and in the administration and support functions.Health and safetyRisk Potential Negative Own Medium termOccupational health and safety remain a priority, particularly in high-risk areas like warehouses and operationsstores (heavy lifting, truck driving etc.). Additionally, offensive language, bullying, and stress is a high priority and are not tolerated.S1 Equal Training and skills developmentOpportunity Potential Positive Own Medium termtreatment and AO is committed to providing equal opportunities for all employees to enhance their skills and compe-operationsopportunities tencies. This is facilitated through annual employee development interviews and an educational system for allaccessible via the intranet. Additionally, AO invests in training and education programmes specifically designed for AO trainees, fostering the development of future talent within the organisation. These efforts reflect a strong commitment to employee growth and career advancement.DiversityRisk and Potential Negative and Own Medium termAO is focused on promoting from within for middle management, managerial, and director roles, this opportunitypositiveoperationsapproach can inadvertently limit diversity in skills and experience. The current workforce shows a not fully balanced gender distribution, with a predominance of men in the organisation.These factors suggest an opportunity to broaden recruitment efforts to increase gender balance.Impact, risk or Actual  Positive  Value opportunityor potentialor negativechain Time horizonG1 Business ConductG1 Corporate Risk Potential Negative Upstream,Short termculture When doing business with complex international business value chains with more than 1,000 suppliers own operations there is an inherent potential negative impact from corruption, bribery, harassment or an informal and down-economy if not properly addressed and managed through a sound and stable corporate culture.streamG1 Protection of Whistleblowers can be subject to negative consequences if the organisation does not implement Risk Potential Negative Upstream,Short termwhistleblowersadequate protection. A lack of whistleblower protection can lead to negative impacts on the workforce and own operations lack of knowledge of incidents. A lack of whistleblower channels in the value chain increases the risk of and down-AO to be linked with incidents outside of AOs sphere of control.streamG1 Corruption In general AO operate in countries with little tradition of corruption and bribery. We have a policy for Risk Potential Negative Own operations Short termand briberycorruption and bribery and provide training for our employees to make them able to detect and prevent corruption and bribery. Cases of corruption and bribery could lead to reputational damage for AO.Double Materiality AssessmentIn 2023, AO started working towards CSRD readiness and compliance by completing the first Double Materi-ality Assessment (DMA) and GAP analysis. The process included engagement with multiple internal and external stakeholders. In 2024 to ensure compliance, AO has performed a review of the double materiality assessment and GAP analysis along with the data collection, risk assessment and internal controls. During AO's review  assistance from specialised consultants has been used. IMPACT MATERIALDOUBLE MATERIALE2: Substances of very high concern E1: Climate change mitigation E5: WasteE1: EnergyS1: Working conditionsE5: Ressource inflowsS1: Equal treatment and opportunities for all E5: Resource outflowsG1: Corporate cultureG1: Protection of whistleblowersG1: Corruption and briberyNON-MATERIALFINANCIAL MATERIALE1: Climate change adaptationFinancial impact on AOMethodology and scoringThe process of AO double materiality assessment followed the requirements of the European Sustain ability Reporting Standards ESRS1 and 2.The Board of directors has approved the Double Mate-riality Assessment, the given threshold for materiality, and the list of material topics. ScopeAO identified and assessed impacts, risks and oppor-tunities for its own operations and its value chain for all topics, focusing on both upstream and downstream activities. The value chain assessment was mainly based on direct suppliers and AO's own internal know ledge combined with data from external consultants and supplier information.Impact and financial assessment included both positive and negative impacts, which were considered actual and/or potential for our business related to environ-ment, social and governance matters. AO's assessment was based on ESRS, and guidelines provided in 2024, to ensure alignment and compliance to CSRD. As AO's busi-ness develops, the company will continue to review its double materiality assessment (DMA) and activities with impacts, risks, and opportunities to keep a relevant and actual assessment on the most material topics to AO. Stakeholder engagement In completing the DMA, AO engaged internal stake-holders from the start to secure understanding, provide ownership and benefit from the knowledge of the stake-holders. External consultation was included to support the process and ensure understanding of the require-ments. While working on the DMA, AO approached external business partners and stakeholders to better understand how their business could impact AO and how the business decisions and activities could affect their business. AO maintains a continuous engagement with our busi-ness partners and stakeholders to improve our busi-ness, collaboration, and commitment to agreements. Materiality scoring ProcessFor actual impacts AO used the three parameters ‘Scale,’ ‘Scope,’ and ‘Irremediability’ for a combined scoring of Severity. For potential impacts, an additional parameter ‘Likelihood’ was added, as per the ESRS guidance.Assessment of actual impact: See table belowTwo parameters, ‘Size of the potential financial impact’ and ‘Likelihood’ were used to score financial risk and opportunity. The measurement for “Size of the potential financial impact” has been based on the same scale as the used for AO risk assessment. Likelihood was scored on the same basis as for impacts.Environment Social GovernanceScale The extent of the impact on the rele-The extent of the impact on the right The extent of the impact on the right vant individuals/economy/en to life/health/basic life needs - to life/health/basic life needs - vironment - whether low or high.whether low or high.whether low or high.ScopeHow widespread the impact would How widespread the impact would How widespread the impact would be from immediate to global levelbe on a population or employeesbe on a population or employeesIrremediability How difficult it would be to undo How difficult it would be to undo How difficult it would be to undo the damage based on time, effort, the damage based on time, effort, the damage based on time, effort, and costsand costsand costsLikelihood Assessment of likelihood on a scale Assessment of likelihood on a scale Assessment of likelihood from 'rare' from 'rare' to 'certain'.from 'rare' to 'certain'.to 'certain'.Material topics based on the DMAThe outcome of the DMA scoring shows that the following five out of the ten ESRS topics are material to AO: · E1 Climate change · E2 Pollution · E5 Resource use and circular economy · S1 Own workforce · G1 Business conduct The outcome of the DMA is consistent with current sustainability strategy. For each material topic AO has identified impacts, risks and opportunities (IROs) and assessed whether each subtopic was material or not. The material topics and subtopics are further specified and presented in the following sections, with more informa-tion on why AO find them material and how they are incor-porated as part of our organisation and daily activities.Non-material topics based on DMAThe outcome of the DMA scoring shows that the following  six out of the ten ESRS topics are not material to AO due to the nature of our business as a wholesale company: · E2: Pollution of air, Water &amp; soil, Living organ-isms and food resources, Substances of concern, Microplastics · E3: Water, Marine resources · E4: Direct impact drivers of biodiversity loss, Impacts on the state of species, Impacts on the extent and condition of ecosystems, Impacts and dependencies on ecosystem services · S1: Other work-related rights · S2: Working conditions, Equal treatment and opportu-nities for all, Other work-related rights · S4: Information-related impacts, Personal safety, Social inclusionTopics reviewed as immaterial in early assessment iand not included in the full Double Materiality Assessment: · S3: Economic, social and cultural rights · S3: Civil and political rights · S3: Rights of indigenous peoples · G1: Animal welfare · G1: Political engagement and lobbying activitiesE1 Climate changeImpact, risks and opportunitiesThrough the company's double materiality assessment AO identified which climate related impacts, risk and opportunities that are material for AO and its value chain. To identify these climate related impacts, AO has conducted an analysis of its GHG emission calcula-tions as well as a flood risk assessment of its physical locations. When conducting the flood risk assessment, no full scenario analysis has been conducted, but AO has made an analysis based on external expertise and relevant flood risk tools.AO has yet to conduct any substantial financial assess-ment that will provide data on Climate change regarding how the impacts, risks and opportunities can affect AO on a monetary basis. The process to identify these financial effects will be conducted when AO has more mature data.AO has found that in terms of its own operations, AO has a limited area of opportunity where it is possible for the company to have any climate change adaptation strat-egies and implementations. AO has around 60 physical locations and based on its assessment of the physical locations, only a few AO stores are situated in areas associated with climate-related hazards like flood risk.AO has a product portfolio where climate change adap-tation plays a significant role in creating an opportunity. Through three of AO's product categories: VA, VAGA, and VVS. AO offers products in categories that actively contributes to assisting communities in adapting to the growing impact of extreme weather events such as floods and rising sea levels. Climate change adap-tation measures are already needed today, due to the climate-related hazards AO is experiencing.Furthermore, AO is exposed to risks such as supply chain disruptions and increasing prices due to extreme weather events brought on by climate change. If AO's suppliers and sub suppliers are not able to adapt to climate change, it could become a potential financial risk for AO.As AO is a wholesaler selling goods to craftsmen and installers, with a very limited own in-house production, AO's direct CO2 footprint is limited. This assessment is based on the GHG-emissions calculations. AO’s scope 3 accounted for 99% of our total emissions, whereas Scope 1 and 2 only accounted for 1% total.AO’s main CO2 footprint lies in scope 3 activities in the upstream and downstream value chain from the manu-facturing of AO's purchases, transportation of goods from manufacturers to AO and to customers, as well as emissions from customers' use of sold goods.Even though AO’s scope 1 &amp; 2 CO2 footprint is small, AO still considers emissions in scope 1 and 2 material, as AO has direct influence on the emissions and due to the fact that CO2 causes harm on a global scale and is hard to redeem once the damage is done.AO’s direct energy consumption is limited to its daily operational activities. This includes energy required for running the offices, warehouses, and the energy source consumed by our own vehicles. The indirect energy usage, however, forms a substantial part of AO's total energy footprint. Primarily this involves the energy usage of sold products and secondarily the energy consumed during the production of the materials AO distribute, sourced from various manufacturers. Addi-tionally, significant energy is used in the transportation of these materials from factories to AO's warehouses and to its customers.Resilience analysisAO has identified the following material climate-related risks impacting the operations:Physical Risk: Two of the retail sites is in an area with a high risk of flooding. This constitutes a climate-re-lated physical risk due to the potential for property and damage and operational disruptions. The flooding risk is not considered a safety concern for employees and customers at the locations. The financial consequences of these flooding events are very limited as the nearest store is less than 30 km away and the downtime is limited.Transition Risk: Changes in climate-related regulations, market preferences, and technological advancements may affect the business operations. However, given the diverse supply chain with numerous suppliers across each product group, AO consider the transition risk to be manageable. The ease of substituting suppliers allows AO to adapt swiftly to regulatory and market changes.The scope of the resilience analysis is focused on:Assessing the vulnerability of the physical locations to climate-related events, specifically flooding as well as evaluating the flexibility and robustness of the supply chain in the face of climate-related disruptions. The analysis of the physical risks was conducted internally in late 2023 by mapping the locations against climate risk zones. AO has not conducted a formal anal-ysis of the supply chain meaning that the assessment is based on a high-level assessment of the supplier landscape.AO has not employed a formal climate scenario anal-ysis as outlined in ESRS 2 IRO-1. AO recognises the importance of global supply chain risks, but due to the diverse number of suppliers, AO is not currently plan-ning to do a scenario analysis.AO expects a gradual shift towards a lower-carbon economy, impacting energy consumption patterns and technological advancements. Anticipated increases in renewable energy adoption may affect operational costs and supply chain dynamics. Technological inno-vations may offer new opportunities for efficiency and sustainability in our operations.The shift will have a limited financial impact on the own operations, but a shift in macroeconomic trends could present business opportunities for AO. AO has business areas supporting both climate mitigation and climate change investments.The time horizons applied and their alignment with the climate and business: · Short-Term (within reporting year): Immediate oper-ational adjustments and mitigation strategies for identified high-risk sites. · Medium-term (end of reporting year to 5 years): Integration of formal climate scenario analyses and adaptation of business strategies accordingly. · Long-term (5+ years): Ongoing evaluation and adjust-ment of the business model to align with evolving climate-related trends and regulations.The primary uncertainty in the resilience analysis lies in the lack of rigid methodology behind the assessments. Additionally, timing and severity of climate-related events and regulatory changes is an uncertainty. While AO has identified assets at risk, incorporating these insights into the strategic planning and investment decisions is an evolving process also taking into consid-eration the limited amount of assets at risk. AO has identified Global supply chain risks as one of the key risks for the Group. It is being evaluated whether and how to integrate climate change resilience into the strategy.AO is assessing its ability to adjust or adapt its strategy and business model to climate change in both short, medium, and long term as follows:Strategic Flexibility: AO's diversified supply chain and flexible sourcing strategies position AO well to adapt to climate-related changes over the short, medium, and long term.Access to finance: AO is committed to maintaining strong relationships with financial partners to secure ongoing access to capital at affordable rates.Asset management: AO can redeploy, upgrade, or decommission assets as needed to respond to climate risks, which is currently very limited.Product and service shifts: The business model allows for adjustments in our product and service offerings to meet changing market demands.Workforce reskilling: AO is prepared to invest in reskilling the workforce to support new operational needs arising from climate adaptation strategies.Transition plan for Climate changeTransition plan for Climate changemitigation &amp; adaptionAO believe that we all have a responsibility to manage the resources in a manner beneficial to both current and future generations, respecting people, and the planet. The biggest difference AO can make is by simplifying the process for the customers to make more sustainable choices, hence considering a sustainable business model as the prerequisite for commercial success.As a wholesaler in the construction and installation industry, with various business units and products, AO has a complex value chain with an upstream that spans across the globe. However, AO’s own operations and downstream is limited to primarily Denmark, Sweden and Norway.AO takes responsibility over own activities by reducing climate and environmental impacts in its business, regardless of their significance across the value chain.By obtaining a better understanding of AO's impact, risks and opportunities regarding climate change AO has now continued with a transition plan to address climate change mitigation, with clear objectives.The Science Based Targets initiative (SBTi) has vali-dated that the science-based greenhouse gas emis-sions reduction target(s) submitted by Brødrene A&amp;O Johansen A/S conform to the SBTi Criteria and Recom-mendations (Version 5.2). SBTi has validated that AO's near-term target is in line with the 1.5°C trajectory. The official near-term science-based target language: Brødrene A&amp;O Johansen A/S commits to reduce abso-lute scope 1 and 2 GHG emissions 80% by 2030 from a 2022 base year. Brødrene A&amp;O Johansen A/S also commits to reduce absolute scope 3 GHG emissions 42% within the same timeframe. The SBTi has also vali-dated AO’s net-zero target. The official net-zero science-based target language is: Brødrene A&amp;O Johansen A/S commits to reach net-zero greenhouse gas emissions across the value chain by 2045.The assessment does not show any potential locked in GHG emissions from AO's key assets and product, and is thereby not considered a risk, which could prevent AO from achieving the GHG reduction targets.AO’s transition plan is endorsed by AO's management and supervisory bodies, embedding climate objectives within AO's corporate governance. This ensures a coordinated approach across all levels of the organisa-tion, with financial planning that reflects the company's priorities, ensuring that resources are allocated to support its transition goals and annual reporting to track progress against our targets.AO is well underway with this transition plan being implemented throughout the Group and will annually report on progress, maintaining transparency with stakeholders. This includes detailing actions taken to reduce emissions, challenges faced, and adjustments to the strategy as needed to stay on track with targets aligning with the Science Based Target initiative.PoliciesBuilding on the transition plan, AOs climate and envi-ronmental policy establish a structured framework to drive sustainable progress across its entire value chain.The scope of AO’s climate &amp; environmental policy is covering the entire value chain across all geographies and all identified stakeholders. The ESG Council is responsible for the implementation of the policy. The environmental and climate policy solely covers climate change mitigation and adaptation, energy efficiency, pollution, waste management, circular economy.Climate change mitigation: · Reducing CO2 emissions in scope 1, 2, and 3 in accordance with the Science Based Targets initiative (SBTi)-validated goals. · Phasing out fossil fuels in heating, company vehicles and forklifts to meet the CO2 targets for scope 1 and 2. · Increasing the share of more sustainable products when sourcing from suppliers to benefit customers. Through prioritisation and dialogue, AO aim to shift customer focus towards more sustainable products. · Inspiring partners and the industry to support a sustainable value chain, also leveraging AO's influ-ence in industry associations.Climate change adaptation: · Addressing the consequences of climate change by adapting locations to the climate. · Providing goods and solutions that assist customers and local communities with necessary climate adaptation.Energy efficiency and renewable energy deployment: · Reducing the annual energy consumption and increasing the share of renewable energy by installing solar panels.  Investing in energy-efficient solutions and promoting energy and CO2 saving initiatives among both our customers and suppliers.Recognising the significant impact of scope 3 emis-sions, AO has initiated a comprehensive ESG survey for suppliers, aiming to gain a better understanding of their business practices regarding ESG. AO will consider introducing supplier’s carbon reduction information during procurement and contracting to source more energy-efficient products. AO wants to cooperate with its suppliers and encourage practices across the value chain that increase use of recycled material and encourage them on their transition from conventional electricity to renewables etc. AO will especially engage in collaboration with suppliers of ceramics-, plastics and metals-based products to reduce CO2-emissions in accordance with the net zero target. This effort is essen-tial for addressing emissions from purchased goods and services, and the use phase of sold products, which constitute most of AO's indirect emissions.Actions and TargetsAO has not yet implemented a strategy as to how the company intend to eliminate its residual GHG emissions in relation to the SBTi- aligned net zero target. However, in the fall of 2024 students from  Aalborg University’s Sustainable Cities Master’s program have investigated credible beyond value chain mitigation measures, and AO will at a later stage decide on whether to engage in further studies.AO is currently investigating the possibility to introduce nature-based solutions to the sites.The ability to implement the actions requires resources; however, these are not significant or extraordinary in nature, especially when compared to resource-intensive industries such as large-scale production companies. AO continuously look for opportunities to reduce the emissions and has identified areas of investments and costs related to actions taken in line with the transition plan taken in 2024. Investments related to buildings and company cars have been made. The financial amount of the actions taken in 2024 can be found in the Taxonomy section on page 80.AO will continue to invest in emission reductions to reach the emission targets. This includes both capital and operational expenditures aimed at reducing emis-sions and enhancing efficiency.There are no other targets than the above mentioned related to manage the IRO’s in ESRS E1. Other relevant environmental targets are referenced in other chapters of the report.AO’s actions so far has led to a substantial reduction in the carbon footprint, with a 27% decline in Scope 1 and 2 CO2 emissions compared to the 2022 baseline. AO’s targets are aligned with the GHG protocol and validated by Science Based Target initiative. The accounting of CO2-emissions is conducted for both scope 1, 2 and 3 for the value chain. AO monitor the GHG-emissions in scope 1, 2 and 3 every year in alignment with the SBTi guidelines, and follow the accounting guidelines for calculations for all categories. AO accounts for all scope 3-categories besides from excluded categories: 8, 10, 14 and 15 and the target is furthermore not derived using a sectoral decarbonisation pathway.Aside from calculating AO's GHG inventory and carbon reduction potentials, some of the main levers of GHG emissions in Scope 3 have been identified. As shown in the Scope 3 calculations, the two largest emission categories are the use of sold products and purchased goods &amp; services. Reducing emissions, therefore, requires AO to engage with suppliers and customers to drive behavioral change. The materials with the highest emissions include ceramics, plastic, and metals.AO is well underway with the current actions to reduce carbon emissions in Scope 1 and 2 to zero CO2e, and by engaging with suppliers and downstream costumers, there is potential for a substantial reduction in Scope 3.Energy consumption and mixEnergy efficiency and the transition to renewable energy are central to AO’s climate strategy, both within the operations and across the value chain. Internally, AO focuses on reducing energy consumption by imple-menting energy-efficient technologies and installing solar panels to increase the share of renewable energy in the operations. Additionally, AO is committed to phasing out conventional fossil fuels in heating, company vehicles, and forklifts, directly supporting AO's Science Based Targets for scope 1 and 2.  Externally, AO prioritises enabling customers to make more energy-efficient choices. By sourcing and offering § Accounting policyEnergy consumption and mixNon-renewable sources (fossil fuel)Energy from non-renewable sources covers fuel consumption related to the Group’s leasing car fleet, natural gas consumption, electricity consumption and district heating related to the heating of office buildings, AO stores and office activities.3For conversion from litre and m consumption to megawatt-hours, Energistyrelsen and Danmarks statistik conversion factors have been used.Renewable sourcesEnergy from renewable sources covers electricity generated, related to office activitiesAchieved and expected GHG emission reductions UoM 2024Achieved GHG emission reductions % 36.0%Expected GHG emission reductions by 2030Scope 1 &amp; 2 vs 2022 base year % 80.0%Scope 3 vs 2022 base year % 42.0%Expected GHG emission reductions by 2045Scope 1, 2 &amp; 3 vs 2022 base year 90.0%Energy consumption mix 2024 2023Fuel consumption from coal and coal products (MWh) 0 0Fuel consumption from crude oil and petroleum products (MWh) 1,089.6 2,056.5Fuel consumption from natural gas (MWh) 641.7 1,128.5Fuel consumption from other fossil sources (MWh) 0 0Consumption of purchased or acquired electricity, heat, steam, and cooling from fossil sources (MWh) 11,283.8 12,042.7Total fossil energy consumption (MWh) 13,015.1 15,227.7Share of fossil sources in total energy consumption (%) 97.9% 99.9%Consumption from nuclear sources (MWh) 0 0Share of consumption from nuclear sources in total energy consumption (%) 0% 0%Fuel consumption for renewable sources, including biomass (also comprising industrial and municipal waste of biologic origin, biogas, renewable hydrogen, etc.) (MWh) 0 0Consumption of purchased or acquired electricity, heat, steam, and cooling from renewable sources (MWh) 0 0The consumption of self-generated non-fuel renewable energy (MWh) 280.0 8.0Total renewable energy consumption (MWh) 280.0 8.0Share of renewable sources in total energy consumption (%) 2.1% 0.1%Total energy consumption (MWh) 13,295.0 15,235.7a broader range of energy-saving products, AO actively guide customers towards solutions that lower energy use and reduce CO2 emissions during the use phase. Through targeted dialogue with suppliers, AO will investigate the development and adoption of renewable energy technologies, particularly in industries reliant on ceramics, plastics, and metals. These efforts align with AO's ambition to reach our net-zero target.GHG emissionsThe methodologies, assumptions and emissions factors used to calculate the AO group emissions are provided in the accounting policies together with the presented data.The acquisition of Svenska VA-Grossisten, DesignKupp, and Workwear Group has led to an increase in the share of fossil fuel cars and non-renewable energy within the total AO Group's energy consumption, despite improve-ments made during the year. However, AO was still able to reduce its total emissions in 2024 compared to 2023.The primary reason for the total reduction in 2024 vs 2023 comes from cat 11 - Use of sold products, mainly driven by a reduction of CO2e from electricity usage. § Accounting policyGHG intensity (scope 1, 2 &amp; 3)GHG intensity has been calculated as gross scope 1, scope 2 location-based/market-based, and gross scope 3 CO2 emissions divided by reported net revenue in DKK million.Annual % Baseline % vs target/2024 20232022 % vs LYBaseline 2030 2045BaselineGross scope 1 GHG emissionsActual total GHG emission  420   861   1,602  -51.2% -73.8%  320  160 -10.0%Actual total GHG emissionGross location-based Scope 2 GHG emissions  1,941   2,389   3,093  -18.8% -37.2 %  619  309 -10.0%Gross market-based Scope 2 GHG emissions  4,712   4,796   5,451  -1.8% -13.6%  1,090  545 -10.0%Significant scope 3 GHG emissionsCategory1. Purchased Goods &amp; Services  160,179   149,060   171,917  7.5% -6.8%2. Capital Goods  2   1   2  97.5% 8.6%3. Fuel &amp; Energy related Emissions  246   287   436  -14.3% -43.6%4. Upstream Transportation &amp; Distribution  16,337   16,989   18,797  -3.8% -13.1%5. Waste generated in Operations  374   316   703  18.4% -46.8%6. Business Travel  63   83   89  -24.1% -29.0%7. Employee Commuting  753   689   642  9.3% 17.3%9. Downstream Transportation &amp; Distribution  4,141   3,559   6,221  16.4% -33.4%11. Use of Sold Products  480,877   813,478   838,255  -40.9% -42.6%12. End-of-life Treatment of Sold Products  3,146   2,870   3,162  9.6% -0.5%13. Downstream leased Assets  3   2   4  9.3% -37. 9%Significant scope 3 GHG emissions  666,121   9 8 7, 334   1,040,228  -32.5% -36.0%  603,332  -5.3%Total GHG emissionsTotal GHG emissions location based  668,482  990,278   1,035,275  -32.5% -35.4%  66,850  -3.2%Total GHG emissions market based  671,253   992,685   1,037,633  -32.4% -35.3%  67,127  -3.2%GHG intensity based on net revenue UoM 2024 2023 2022GHG intensity (location based) t CO2e per DKK million 123.1 188.3 194.4GHG intensity (market based) t CO2e per DKK million 123.6 188.7 194.8§ Accounting policies for GHG emissions scope 1, 2 &amp; 3  Direct GHG emissions (scope 1)Scope 1 emissions are reported based on the Greenhouse Gas (GHG) Protocol and cover all direct emissions of green-house gases from AO. The direct carbon emissions from various fuels are determined based on the fuel quantities and the relevant emission factor.Indirect GHG emissions (scope 2)Scope 2 emissions are reported based on the GHG Protocol and include indirect GHG emissions from the generation of electricity and heat purchased and consumed by AO. Scope 2 emissions are primarily calculated as the power volumes purchased multiplied by the emission factor for electricity. For district heating local emission factors from each district heating area are not used. Location-based emissions are calculated based on average country-specific emission factors. Market-based emissions consider renewable power purchased and assume that regular power is delivered as residual power.Indirect GHG emissions (scope 3)Scope 3 emissions are reported based on the GHG Protocol, where the scope 3 inventory is split into 15 subcategories (C1-C15): · Category 1. Purchased goods for resale’s emissions were calculated using a physical data approach, where products were categorized based on weight and custom codes to estimate material composition and assign GWP emission factors. This covered 88% of the purchased goods list, with extrapolations applied to remaining Scope 3 category ID Scope 3 category Justification8 Upstream leased assets The fuel and electricity consumption of leased items are accounted for in Scope 1-2 and Scope 3.3. Double accounting is avoided. The life cycle emissions associated with manufacturing or constructing leased assets are optional. SBT asks to exclude optional GHG activities from the Scope 3 GHG boundary.10 Processing of Sold Products AO does not sell products that (may) require further processing.14 Franchises AO does not operate a franchising business model.15 Investments AO does not have any investments that fall under the definition of this category.items. For products lacking weight data, weight and emissions were estimated using averages from the other product categories. For remaining products and services not meant for resale, a spend-based approach was applied, using AO’s financial data across entities and emission factors from the EEIO database, adjusted for inflation and currency conversion. · Category 2 includes GHG emissions from capital goods procurement. CO2e emissions were calculated using a spend-based approach and relevant emission factors were applied. · Category 3 includes the indirect emissions of fuels, elec-tricity and district heating. They were calculated using data from scope 1 and 2. When location-specific emis-sion factors were unavailable for Denmark, proxy factors were applied. The indirect share of the market-based emission factors was determined using the DK grid mix emission factor split.   suppliers, goods transportation between stores, ware-houses, and direct deliveries to customers. For deliveries from AO to own facilities or customers CO2-reports was provided by the transportation-companies. For emis-sions deriving from delivery to AO these reports were not available. Therefore, the calculations were based on: Product origin, weight, and units and they were used to group suppliers by country and region. A transport split was applied based on whether the region is within the EU. Transport distances were estimated using  seadistance.org, with emissions calculated based on assumed distances and product weights. Where country of origin was not available emissions were extrapolated based on averages from the known data sources. · Category 5 includes emissions from waste disposal, based on data provided on waste type from our waste handling partners. Relevant emission factors was multi-plied by the waste amount. · Category 6 includes emissions from business travel, calculated using a spend-based approach. Travel spending was categorized into domestic, foreign, and client-related travel, with a statistical ratio applied as a proxy for other locations. Emissions were calculated using spend-based factors for air and land travel, while hotel stay emissions were estimated using an average hotel rate and a global emission factor per night. · Category 7 includes emissions from employee commuting, calculated based on average travel distance, transport mode, and the number of employees, including temporary workers. The transport split was derived from national statistics, with commuting distances adjusted for round trips and annual working days. Emission factors were applied except for foot and bike travel, which were set to zero. · Category 9 includes customer product pick-ups in 2024. The average shopping travel distance in Denmark (14.7 km/day) was used. Emissions were calculated without considering product weight. · Category 11 includes emissions from the use of sold products. As no use-phase data was provided, esti-mates were made using product category information and purchased units. Electricity-consuming products were identified, sorted by relevance, and assessed for wattage, lifespan, and daily usage. Where data was insufficient, an extrapolation was applied. · Category 12 includes emissions from the end-of-life treatment of sold products. Products were sorted by weight, with the most relevant categories covering 80% of the total. Material and waste type assumptions were made, and a waste ratio was applied to the full product list. Waste treatment methods were based on statistical data, with emissions per kg of waste calculated. · Category 13 includes emissions from the operation of assets owned and leased to third parties. CO2e emis-sions were calculated using a spend-based approach, with emission factors adjusted for inflation. · The subcategories 8, 10, 14 and 15 are not relevant for AO and was therefore excluded. · The metrics for the scope 3 calculations, will have some level of uncertainty, as some of the data is based on extrapolations.Update on the original AO Denmark CO-targets for scope 1 &amp; 22As part of AO’s ongoing commitment to sustainability and reducing the environmental impact, we have set ambitious climate targets both for AO Denmark and the AO Group as a whole.AO Denmark TargetsSince 2020, AO Denmark has committed to reducing its Scope 1 and 2 carbon emissions by 50% by 2025, with a longer-term goal of achieving zero emissions in scope 1 &amp; 2 by 2030. These targets were designed to align with AO Denmark’s operational focus and are outlined in previous annual reports.Due to the progress being made in phasing out fossil fuels in heating, forklifts and company vehicles AO has achieved a reduction in 2024 compared to the base year of 47.4%. Based on this positive development, it is expected that the 2025 goal of reducing 50% compared to 2020 for AO Denmark activities will be achieved.New group-level Climate targets aligned with Science-Based Targets (SBTi)In 2023, AO took a significant step forward by calcu-lating our scope 1, 2, and 3 emissions across the entire AO Group. Validation from the Science-Based Targets initiative (SBTi) for the new, more comprehensive climate targets were received. These targets commit the AO Group to reduce scope 1 and 2 emissions by 80% in 2030, while reducing scope 3 emissions by 42% in the same timeframe and achieving net-zero emissions by 2045. These new goals reflect our broader, long-term climate strategy and are in line with global standards and the EU’s sustainability regulations, including the Corporate Sustainability Reporting Directive (CSRD).Maintaining AO Denmark’s TargetsWhile the new SBTi-aligned goals are now the primary focus for the AO Group, it is important to retain the original climate targets for AO Denmark. These goals remain relevant and demonstrate our ability to achieve short-term climate objectives, particularly for inves-tors and stakeholders who value seeing measurable progress. AO is committed to transparent reporting on both sets of targets until 2025 to ensure clarity and to highlight progress across both the Danish operations and the wider AO Group. After 2025 the reporting will focus solely on the SBTi-related scope 1, 2 &amp; 3 progress on group level.Navigating the difference in targetsMaintaining both the AO Denmark-specific targets and the Group-level SBTi targets may initially appear complex. However, these two sets of goals serve different purposes. AO Denmark’s targets reflect the historical commitment and focus on operational perfor-mance within Denmark, while the Group-level SBTi ■  Fuel for company vehicles  ■  Fuel for forklifts  ■  Gas for heating ■  Electricity  ■  District Heating  ■  Electricity for company vehiclesA restatement for the years 2020-2023 has been made excluding scope 3 emissions related to Scope 1 &amp; 2 which were included in previous years reporting. Corrected Scope 1 &amp; 2 emissions can be seen in the figure above.targets represent the broader climate ambitions across all operations. Both are important in demonstrating the overall sustainability strategy and progress.E2 PollutionImpact, risks and opportunitiesAO’s material impact on pollution is related to substances of very high concern (SVHC), that AO sells to its customers, and it is both relevant for upstream and downstream activities. No part of AO's business value chain is excluded if it relates to the harmful substances that are in the company's products.AO has conducted an analysis of the harmful substances sold by AO across its operations including all sites and business activities. In addition the amount of items with harmful substances stored in each of AO's warehouses and stores has been ascertained. The phys-ical risks of pollution in emergency situations are not considered material due to the limited amounts stored in AO's warehouses. However, all AO's locations follow all regulatory requirements regarding hazardous items and fire regulation sas a part of our ISO 14001 certified management system.Products handled by AO and registered on the SVHC list will only affect the immediate surroundings and will not cause significant harm to others besides the people who use the chemicals. However, some of the chemi-cals that are under SVHC have the potential to cause more lasting damage, where irremediability (part of the severity assessment) scores high in the assessment. There is also a high likelihood that the customers in the downstream value chain will be exposed to these substances when they use them.Due to the limited number of products sold and the well-regulated area, no subtopic concerning pollu-tion was considered financial material based on AO’s benchmark for financial materiality used throughout the assessment across all ESRS’s. The decision process regarding IRO’s is similar to the IRO assessment process across ESRS’s and will be evaluated yearly based on potential changes in the upstream supply chain, AO’s own operations and downstream effects of products sold. Opportunities to minimise the negative impact of products containing harmful substances will be part of AO’s work with customers to reduce the number of such goods. This effort is also integrated into the ISO 14001 manage-ment system. Input parameters for current the material sub-topic are safety data sheets used for analysis and the REACH restriction lists and the SCIP-database under the European Chemical Agency (ECHA). Input parameters for reassessment of non-material topics will be scale, scope, irremediability and likelihood of potential pollu-tion throughout the value chain.Process for analysing SVHCBased on safety data sheets AO has conducted an anal-ysis of all chemicals sold. The analysis was performed by internal and external specialists.Based on the safety data sheet information all chem-icals were divided into categories based on REACH restriction lists. All new chemicals are analysed to assess which restriction lists (if any) the substances are categorised into. Articles with SVHC-substances are monitored through the registration of goods that are listed in the SCIP-database by the European Chemicals Agency (ECHA). The reported quantities of chemicals and articles containing SVHC substances reflect the total weight in kilograms of the products, regardless of the proportion of SVHC substances within them. The disclosure is not validated by an external body. The information and communication provided on these substances to customers follows the CLP-regulation.Policies on substances of very high concernAO’s Climate and Environmental policy as well as Corporate Social Responsibility Policy address the issue of harmful substances. The responsibility for imple-menting the policies lies with the Procurement Director.  Reducing harmful substances in the chemicals AO sells relates to both upstream and downstream activities. In the policies and ISO 14001 management system, it is addressed how to address harmful substances in the following way:Climate and environmental policy: · Annually analyse and reduce the amount of environ-mentally harmful substances by engaging in dialogue with suppliers on how to replace or phase them out, particularly in products sold to private consumers and substances of very high concern (SVHC). Our goal is to phase out SVHCs completely by 2030 for the benefit of both people and the environment. · Increasing the share of sustainable products when purchasing from suppliers to benefit our customers. Through prioritisation and dialogue, AO aim to shift customer focus towards sustainable products.Corporate social responsibility policy:  · AO reduces environmentally harmful substances for the benefit of both people and the environment. As AO's work with monitoring harmful substances both in terms of reduction of harmful substances as well as handling emergency situations is a part of the certified ISO 14001-manangement system, the following part of AO's climate and environmental policy is also relevant:AO's environmental management certification aims to support AO and its employees in the climate and environmental efforts. Therefore, the entire AO, from top management to stores, is certified in the ISO 14001 environmental management system, which includes: · Actively involving employees in environmental efforts. · Including environmental topics on the agenda of internal sales, board, and management meetings. · Measuring departments on environmental perfor-mance, just as they are measured on other outcomes. · Ensuring that initiatives with environmental impact are planned, implemented, and evaluated in collabo-ration with AO's responsible environmental unit. · Assisting AO's customers in making green choices when shopping with us.AO's environmental policy should be viewed in conjunc-tion with its social responsibility policy, where reducing AO's climate and environmental impact is central to AO's efforts.  The scope of AO’s climate &amp; environmen tal policy is covering the whole value chain across all geographies and all identified stakeholders. The CTO is responsible for the implementation of the policy. The environmental and climate policy solely covers climate change mitigation and adaptation, energy efficiency, pollution, waste management, circular economy.AO has consulted stakeholders by interviewing customers about their view on AO’s customer-related work with sustainability including harmful substances. We have not consulted neighbours regarding the matter, but as harmful substances are a well-regulated field, we are following regulation on the matter including require-ment to warehouse setup.Targets and actionsAO’s target is linked to AO's policies, and it is to elimi-nate all SVHC-substances in products AO sell by 2030 and reduce substances of concern, where viable substi-tutes are available. AO's policy states that the company will do that by annually analysing and reducing the amount of environmentally harmful substances by engaging in dialogue with suppliers on how AO can replace or phase out these substances — particularly in products sold to private consumers and substances of very high concern (SVHC). As 2030 is a short time frame, the interim target is to decrease the number of chemical products each year.No official methodology has been used to set the targets as it is not applicable and therefore there are no significant assumptions used to set the targets. The targets are related to the EU’s chemicals strategy for sustainability towards a toxic-free environment and the scientific evidence proposed in the strategy.AO do not have any targets related to air, water, and soil pollution reduction activities, as these topics are not material for AO. Process for analysing and monitoring SVHCAO plans to tracks the effectiveness of our actions yearly by reanalysing the substances in chemicals using specialised software and track the amounts sold of SVHC substances as well as substances of other REACH restric-tion lists. The baseline for the calculation will be 2024, as the target has been set during 2024.AO has consulted stakeholders by customer interview during the fall of 2023 about their view on AO’s cus- tomer-related work with sustainability including harmful substances. They were not a part of the target setting process.The target relates directly to the climate and environ-mental policy as stated above. AO follow regulation updates using software and updates its list of relevant regulation each year.§ Accounting policySubstances of very high concernTotal weight in tonnage (in tonnes) and percentage of SVHC as part of substances or articles (ingredi-ents in final product) sold in AO.The volume of SVHC is presented as total weight (in tonnes) of all substances or articles containing SVHC, not the total weight of the actual SVHC ingredient.The weight of a substance or article is included if the SVHC concentration is more then 0.1% of its volume.2024Substances of very high concern UoM SCIP SVHCWeight Amount of substances of very high concern that leave facilities as part of productstonnes 679.8 9.6Percentage of net revenue made with products and services that are or that contain substances of very high concern % 5.8% 0.04%E5 Resource use and circular economyImpact, risks and opportunitiesTo assess the materiality of AO's ressource use and impact on the circular economy, general knowledge about the construction industry was used, based on year-long involvement in the industry and continuous knowledge expansion about the industry’s negative impacts through desk research as well as external and internal knowledge sharing. To understand trends in the construction industry and circular economy, and to understand what can be expected in the future, AO is keeping itself updated on legislation on relevant topics on international level. This can minimise certain risks, like incompliance, and highlight opportunities like market trends.Most of the materiality assessment was based on general data regarding the construction industry, while calculation and analysis of waste and packaging is based on product-specific supplier data.AO’s activities are not classified as a polluting company, as defined by the Danish Environmental Protection Act, where local negative impacts are absent or negligible and therefore there are no affected stake-holders. Due to AO’s stakeholders participating in the production of some of the most problematic materials, affected stakeholders can be expected in some of the value chain. Due to the complexity of the value chain and no direct influence on the initial stages of product production, the affected stakeholders are difficult to identify and negative impacts on them difficult to miti-gate. AO will work towards stronger risks assessments including stakeholder management in the future.AO’s material impacts in the construction industry come from the products it buys and sells, which require a significant amount of resources—both the materials themselves and the energy, water, and other resources needed for raw material extraction, production, pack-aging, and distribution. For own activities, most of the resources are used for production of energy for elec-tricity and heating of own facilities, and production of procured packaging. While identifying IROs relevant for resource use and circular economy, all types of resource inflows and outflows were considered, including energy and water consumption in own operations as well as in upstream and downstream activities. Water was deemed non-material (see Non-material topics based on DMA). Energy consumption is covered in chapter E1.PolicyThe scope of AO’s climate &amp; environmental policy is covering the whole value chain across all geographies and all identified stakeholders. Due to the nature of AO’s business, where most of the material impacts are a conse-quence of the activities in AO’s upstream value chain, the Climate and Environmental Policy primarily concerns downstream and upstream activities with AO’s direct influence. However, reduction of waste is the first step toward reducing material impacts  of downstream opera-tions. The activities to reduce the material impact of AO’s own activities, require AO’s employees to learn new daily habits, such as correct waste sorting.  The ESG Council is responsible for the implementation of the policy. The environmental and climate policy solely covers climate change mitigation and adaptation, energy efficiency, pollution, waste management, circular economy.The Climate and Environmental Policy is accessible on the company's intranet and on AO’s website. The policy is accessible to stakeholders and the public. All AO employees must complete an online course regarding AO’s work with environment and climate. AO finds it important that all employees receive information about the focus area in the policy. All AO employees are encouraged to contact the AO's sustainability team regarding questions, help or ideas.AO is focusing on reducing residual waste amounts,  and is contributing to minimise use of virgin resources. In Q4 2024, AO began a take-back scheme project to scale-up take-back efforts of suppliers and contribute to the use of recycled and secondary materials in their manufacturing processes. ActionsTo support correct waste management, AO established a waste sorting solution and is continuously adjusting the solution to optimise it depending on the location. AO’s employees must also undergo a course in correct sorting and are kept updated when new knowledge about specific waste fractions is obtained. AO expects the knowledge about correct waste sorting to spread and contribute to higher waste sorting rates as well as a higher actual recycling rate at all AO’s locations. Waste data is uploaded monthly and made available to all AO’s employees. Here, waste data is visualised, indicating which of AO Denmark’s locations are reaching or exceeding the targets, and which locations are lagging. This gives an insight into which locations need help, and which locations can be used as an inspiration for good practices.As mentioned above, AO began a take-back scheme project in Q4 2024, to reduce reliance on virgin resources and increase the use of secondary and recycled resources directly in AO’s value chain. This project has already shown potential for scaling up take-back efforts, not only for products, but also packaging. Further dialogue with relevant suppliers is needed to fully explore the potential and develop and implement specific take-back schemes. In the same quarter, another project was initiated, where returned goods will be mapped, including the reason for return, process for return and further handling of the returned goods. This is the first step in identifying opportunities for achieving higher levels of waste hierarchy for this group of products.Both of the above mentioned projects are meant to contribute to the development of circular strategy, which will cover downstream, upstream and AO’s own activities and will focus on value retention, waste prevention and high actual recycling rates, as well as procurement of products with recycled materials.Most of the mentioned and planned actions are meant to be a continuous effort unless their positive effect is not proven. In that case, new actions and initiatives will be implemented by AO. AO has not previously reported en these actions and therefore the progress in relation to previous reporting periods is not possible.TargetsRegarding circular economy, one target is specified in the Climate and Environmental Policy: - 90% of waste is sorted for further treatment by 2030 and residual waste should be no more than 10 % of all waste produced by AO. This relates to recycling in the waste hierarchy. AO plans to track the effectiveness of our actions yearly by analysing the amount of waste that is sorted for further treatment and amount of residual waste. The baseline for the calculation will be 2024, as the target has been set during 2024.Danish legislation does not set any specific targets that companies must reach. AO’s waste sorting targets are not based on any significant assumptions but inspired by legislation and driven by AO’s environmental ambi-tions. In 2025, AO will strive to set more relevant goals for the future, including upstream, downstream and AO’s own activities.Resources inflowsDue to the extent of AO’s product range and conse-quently its wide-reaching and complex value chain, AO has not executed an analysis of its full resource inflows. Regarding own operations, AO is in the process of mapping its packaging consumption in line with the extended producer responsibility for packaging. These are the resource inflows that are within AO’s full control. AO has no knowledge of the resource inflows derived from property, plant and equipment used in own opera-tions. As water usage is not a part of AO’s main opera-tions, it is not considered material.Resources outflows and wasteAO’s primary activities are procurement and sales of products and AO does not contribute to the products’ design. Furthermore, AO’s own production activities, VAGA, represents a negligible share of AO’s revenue. Consequently other areas, such as waste, are being prioritised as more important at the moment.As a wholesaler in the construction industry, AO generates waste, often due to breakage, cutoffs, and incorrect orders. However, cardboard packaging is AO’s largest material waste stream, accounting for 35% of its total waste. The second-largest material waste stream is wood, at around 30%, followed by incinerated waste, which makes up about 14%. Steel, other metals, and ceramics each account for approximately 3% of AO’s total waste. Other material waste streams do not exceed 1.5% of annual waste. AO’s waste data is collected through various waste management companies that sort and weigh all our waste and provide detailed data reporting. Waste is generally reported based on invoices received from waste recipients, supplemented with plant-specific measurement methods for commercial facilities, including construction activities. Waste is weighed using verified weights and sorted by type, every month, by our waste partners. The table below shows waste amounts across all AO’s locations in Denmark, Sweden and Norway, including the newly acquired companies. Waste data for the three new companies is included from the time they became part of the AO Group.AO Denmark generates about 88 % of all waste generated by AO Group and has, together with AO Sweden, the most versatile waste streams in the group (described above). Other members of AO Group generate primarily paper and wood waste, most of which is recycled. Waste recycling is not yet fully imple-mented in some of the smaller Group entities leading to higher disposal rates. In the coming years, AO will intensify collaboration with these locations to ensure high waste sorting rates across the group.Waste UoM 2024Total amount of waste Weight generatedtonnes 1,708Weight Non-recycled wastetonnes 315Percentage of non-recycled waste % 18.4%Waste UoM Hazardous Non-hazardousPreparation for reuse Weight tonnes 0 0Recycling Weight tonnes 3 1,390Diverted from disposalOther recovery operations Weight tonnes 3 209Incineration Weight tonnes 0 82Landfill Weight tonnes 0 21Directed to disposalOther disposal operations Weight tonnes 0 0Small projects encouraging reduction of wasteNEXTWhenever AO has materials and products that are still intact and useful but not eligible for sale, such as screws that have expired and are in old pack-aging, AO sends them to a vocational school that can use them for training and education of future carpenters, rather than disposing of the screws.RED projectThe 'RED' project, initiated by our customer Finn L. &amp; Davidsen, receives monthly donations from AO. We provide slow-moving stock items and returned products with cosmetic damage, which are handed out to DIY enthusiasts once a year.  § Accounting policyWaste weightWaste treatment volumes are reported in absolute tonnage (in tonnes) of waste collected from AOs location during the reporting period. All data is third-party data. Data is actual data from the whole AO Group.Non-recycled wasteTotal weight in tonnage (in kg) and percentage of waste that has not been recycled.S1 Own workforceOwn WorkforceWorking and social conditions are an integrated part of AO’s CSR (Corporate Social Responsibility) policy.The employees are the core of AO, and they are crucial to the company’s success and results. AO is committed to being a socially responsible business and ensuring that every employee is satisfied and has the best working conditions.AO has identified the following key social employee-related topics as part of our assessment of material sustainability factors: · Employee retention and job satisfaction · Sick leave and workplace accidents · Skill enhancement and further trainingRisks relate to economic downturns and business acquisitions, which may lead to workforce reductions. To a lesser extent, risks relate to the potential loss of talented employees and the challenge of recruiting and developing the necessary resources and expertise.S1 Own workforceImpact, risks and opportunitiesThe employees are the core of AO, and they are crucial to the company’s success and results.Through targeted activities in working environment and employee development, AO strives to create long-term opportunities. AO focuses on building a dynamic and flexible workforce capable of adapting to changes and supporting the company’s ambitions of being an attrac-tive, inclusive, and socially responsible workplace.AO’s CHRO is responsible for the implementation of all HR policies applying to the entire AO Group, unless anything else is stated.The measurement of the metrics related to characteris-tics of own employees is based on the AO Group and is not validated by an external body other than the assur-ance provider, unless anything else is stated.Health and safetyAO actively works to create a safe and healthy work environment that enhances the company's reputation. Through strategic workforce planning, compliance with policies, health programmes, and continuous evaluations via job satisfaction surveys and workplace assessments, areas for improvement are identified to reduce risks associated with work-related stress and physical safety. AO has implemented preventive measures, including flexible working arrangements and mental health initiatives, to help employees achieve a good work-life balance.Inclusion through diversity initiativesDiversity is regarded as a strength that contributes to innovation and AO’s long-term success. Efforts are made to ensure equal opportunities for all employees, regardless of background, to foster a workplace where all employees feel valued and respected.Skill enhancement and further trainingTo minimise risks associated with the loss of key competencies and ensure long-term competitiveness, AO offers ongoing talent development, skill enhance-ment, and further training. This includes both internal and external training options allowing employees to pursue professional and personal growth. These initiatives not only support individual employee development but also strengthen the company's overall competencies and resilience.Risk identification and preventionAO proactively addresses potential challenges as they are identified. Implemented measures to mitigate identified risks include enhanced well-being initiatives, flexible work arrangements, health programmes, and a clearly defined code of conduct through guidelines and policies, such as Ethics &amp; Compliance, which are regularly updated based on employee feedback and business needs.Goals and systemsTo support AO’s efforts and sustainability goals, a struc-tured approach to data collection through integrated HR systems has been established. Using modern systems, data on employee well-being, retention, sick leave, workplace accidents, etc., are collected. Systematic data collection allows the company to precisely identify areas with potential for improvement and respond quickly to risks and changes. This ensures that AO’s social efforts are part of the company’s daily operations.For instance, AO uses data from job satisfaction surveys and workplace assessments to improve the work envi-ronment by identifying stress factors and implementing specific improvement measures. By analysing retention data, AO can tailor its development programmes to ensure that employees have the necessary skills and motivation to stay with the company long-term.By working in a structured and data-driven way, AO ensures that its social sustainability initiatives are effec-tive and yield long-term results for both employees and the company. This contributes to creating a sustainable and inclusive workplace that meets both employee needs and company goals.  HR activities are managed by a central HR function headed by AO’s CHRO. The HR function is tasked with the manage-ment of the material impacts affecting AO’s own workforce. Forward-looking effortsAO prioritises employee well-being, retention, and development, and will continue to strengthen its efforts in the identified areas to ensure a workplace that promotes both well-being and motivation among employees.AO is dedicated to advancing its initiatives and achieving its ambitious social goals so that the company can maintain a supportive and diverse work environment that contributes to the sustainable devel-opment of all employees, the company, and society.AO takes pride in a strong corporate culture, reflected in low employee turnover and a commitment to ensuring health and safety of everyone.Data collectionAO's HR-related data collection and analysis is designed to create an accurate, targeted, and ongoing assess-ment of conditions within the company. AO uses a combination of quantitative and qualitative methods to gain a comprehensive understanding of employee well-being, work environment, diversity, and skill enhance-ment. This methodology outlines the key practices and sources for collecting and maintaining employee data.Data sources and collectionAs part of the hiring process, all contract employees, including trainees, must complete a form with the personal information necessary for employment. The collected information is entered into AO’s HR database, which serves as the central data warehouse for all employee-related data. The database is continuously updated with changes, such as start and end dates, working hours, transfers, management levels, or contract status.Additional data sources include direct input from managers or employees, for instance, in cases of workplace accidents or extended illness. Data is also collected through job satisfaction surveys. Data entry is primarily manual, based on input from managers or employees, and data is regularly updated throughout the employment period.Analytical approach  Economic factors and project-based work are considered when analysing variations in workforce numbers over the reporting period. Overall workforce planning is done by senior management based on strategic goals, economic conditions, and the compa-ny’s vision. Actual figures are periodically compared with budg-eted targets, including data on any third-party personnelThe HR department monitors the implementation of improve-ments and adjustments by conducting assessments with the employees involved and affected. This process ensures that the changes have achieved the desired outcomes and identifies whether additional actions are required to meet expectations.Actions and targets  AO does not have any key actions for 2024 or specific targets, but is working on actions and setting targets for 2025.PoliciesPolicy for Corporate Social Responsibility Policy on Respect for Human RightsSenior PolicyEthics &amp; Compliance  AO continuously enhances the company’s work environment through regular monitoring and use of KPIs. AO tracks productivity, employee satisfaction, and retention rates using annual reports to assess progress. These insights guide necessary adjustments to AO’s strategies and policies, ensuring AO remains responsive to both employee needs and business requirements. To further ensure a safe and dynamic workplace, AO conducts regular assess-ments of human rights impacts across its operations. These comprehensive assessments involve employee interviews, policy reviews, and consultations with stakeholders and experts. The insights gained are used to develop action plans that mitigate potential risks.By focusing on these key areas, AO aims to create a dynamic, inclusive, and sustainable work environment where all employees feel valued, protected, and supported. Maintaining high standards in reporting and monitoring enables AO to contribute to the well-being and professional development of its workforce, ensuring that AO remains a responsible and forward-thinking employer.Working conditionsEmployee retention and job satisfaction Employee well-being and retention are fundamental to AO’s success as a company. AO recognises that an engaged and satisfied workforce not only increases productivity but also fosters a strong corporate culture and creates a positive work  environment. AO’s approachto well-being includes both physical and mental health, balanced working hours, and meaningful opportunities for personal and professional development.To ensure retention, AO is focused on building a sustain-able culture where employees feel valued and respected.RetentionAO recognises that low employee turnover creates continuity and forms the foundation for strong team-work. Therefore, AO has implemented a range of initiatives aimed at enhancing employee engagement and creating a work environment where all employees thrive and feel valued.AO’s retention strategy includes flexible working conditions, competitive salary packages with an annual individual salary review for salaried employees, health benefits, and extensive opportunities for skill enhance-ment and further training. AO continuously evaluates the effectiveness of these initiatives and adjust them based on employee feed-back and market developments.Employee turnover UoM 2024Number of employees who have left undertaking Headcount 130Percentage of employee turnover % 12.6%AO’s goal is to remain an attractive workplace where talented employees choose to stay and contribute to the group’s success and sustainability.§ Accounting policyEmployee turnoverThe rate of employee turnover is calculated as the number of employees who left volun-tarily or due to dismissal, retirement, or death in service during the reporting period to the headcount at the end of the reporting period.Conditions of employmentAll AO employees have employment contracts that clearly state their rights and obligations. Salaried employees and workers paid by the hour are covered by collective agreements. Managers’ employment terms are governed by the National Salaried Employees Act and are aligned with the collective agreement for salaried employees regarding parental leave, additional vacation days, and child sickness leave. All employees are enti-tled to five weeks of paid vacation according to national law, and to legally permitted absences due to, for example, illness, parental leave, adoption, or compul-sory military service in accordance with national law.AO pays a fair wage to their employees in line with national legislation, market trends and agreements with trade unions. All employees are covered by social protection, through public programs in both Denmark, Sweden and Norway.  AO respects employees' rights to organise and to engage in collective bargaining.Collective bargaining agreements UoM 2024Percentage of total employees covered by collec-tive bargaining agreements % 88.7%Percentage of own employees covered by collective bargaining agreements - by country with significant employment (in the EEA) % 100.0%To foster trust and open communication regarding working conditions, AO has made the company guide-lines and policies accessible to all employees on the company intranet and in the employee handbook. Additionally, AO has implemented an e-learning portal, 'AO Campus', where all new employees complete mandatory e-learning courses, including the "Ethics and Compliance' course, which helps protect and safeguard employees against discrimination, harassment, and unsafe working conditions.§ Accounting policyCollectives bargaining agreementsData consists of full-time, part-time and temporary employees (students + maternity substitute), at the end of the reporting period.The split between employees covered and not covered by collective bargaining agreements, is determined by the position of the employee. All managers with staff responsibility are not covered. No assumptions are made.Metric for the employees covered by country is for employees located in Sweden. Non-employees are covered under Danish legislation, market trends and agreements with trade unions, through the external bureau the non-employees are employed with.The social protection through the public programs cover sickness, unemployment, employment injury and acquired disability, parental leave and retirement.AO has established a whistleblower system, an effec-tive grievance and feedback mechanism that is exter-nally managed, allowing employees to report issues without fear of retaliation. Through the company’s 'Learning Universe' on the intranet, employees are informed about the company's training strategy and their opportunities to develop their skills and compe-tencies through courses and continuing training and education.In AO’s occupational health and safety organisation, a key focus is on safety protocols to minimise risks and prevent injuries.By focusing on these elements, AO is committed to providing a socially responsible and supportive work environment that not only promotes employee well-being throughout their careers but also enhances the company’s overall performance and reputation.Health servicesAll employees can enrol in a health insurance plan that provides quick and professional assistance for treatment or diagnosis of discomfort, illness, or injury.In addition, an EarlyCare programme is offered, where employees who are on sick leave or at risk of taking sick leave can receive support for treatment.Job satisfactionAO puts value in sharing knowledge and information with its employees.With a focus on improving working conditions and ensuring high job satisfaction, AO conducts regular job satisfaction surveys where employees can provide feedback to the company. These surveys are followed by action plans, and based on them, improved mea- sures are implemented to meet employees' needs and preferences.By combining job satisfaction initiatives with a clear code of conduct and employee involvement, AO fosters a workplace community built on trust, respect, and engagement. This supports AO’s goal of creating a workplace where everyone feels valued and motivated to contribute to the company’s success.Flexible work arrangementsThe company offers flexible working hours and the option to work from home to support a healthy work-life balance. The flexibility policy is outlined in the employee handbook and available on the company intranet.In cases of long-term illness, the goal is to bring the employee back to work in a safe, swift, and considerate way. Employees are offered a gradual return-to-work plan with hours adapted to their individual recovery, ensuring they can return to work with confidence.To support employees approaching retirement, AO has asenior policy that allows employees to plan their retire-ment well in advance. This ensures that their roles can be individually tailored to accommodate abilities and preferences in the later stages of their careers.Family-related leave UoM Female Male TotalPercentage of employees entitled to take family-related leave % 100% 100% 100%Total of entitled employees that took family-related leave by gender No. 17 36 53Percentage of entitled employees that took family-related leave by gender % 6.0% 4.8% 5.2%Employee involvementAO continuously promotes employee involvement and transparency through regular updates via the company intranet, kick-off meetings, team, and department meetings, as well as virtual presentations covering topics such as company performance (financial review). IT security, training opportunities and e-learning courses.AO actively involves employees in shaping and improving company processes, often through project-based initiatives and evaluations of new systems.AO’s goals and results are communicated in part through mandatory reports, ensuring the maintenance of stakeholder trust. This strengthens the shared understanding of the company’s goals and reinforces its culture, which brings the organisation closer together.AO assesses the effectiveness of its engagement with its own workforces through regular job satisfaction surveys, direct communication channels, and work-place assessments (APVs), i.e. also with regard to previous remedies provided and Works Council. § Accounting policyFamily-related leaveData consists of full-time, part-time, temporary employees (students + maternity substitutes), at the end of the reporting period.Data collection is done in HR systems and is reviewed and approved by employee managers. Additional data registration is done in government systems required by law.Works CouncilAO has not entered into an agreement with its employees to set up a European Works Council. According to the Danish rules for works councils, which are set out in the Cooperation Agreement between the Confederation of Danish Employers and the Danish Confederation of Trade Unions (now merged into the Danish Trade Union Confederation), companies with more than 35 employees must establish a works council.AO has therefore set up a Works Council, which meets every two months. The Works Council consists of six management representatives and six employee repre-sentatives, the latter being elected by the employees. Employee representatives are elected from among employees within the Danish parent company, without managerial responsibilities for a term of two years.Minutes of Works Council meetings are made available to Danish employees through AO’s intranet. Workers' representatives UoM DK SWEPercentage of employees in each country with signifi-cant employment (in the EEA) covered by workers' represent-atives % 100% 100%The Works Council ensures mutual information-sharing and dialogue about workplace matters, both actual and potential impacts, so that management and employees can achieve a common understanding, thereby promoting a positive workplace culture and efficient operations. Employees can contact their workers’ repre-sentatives and ask them to bring up issues at the Work Council meetings.Employees who may be particularly vulnerable to impacts and/or who are marginalised will usually contact AO’s HR department regarding special needs – either directly or through their immediate manager. The HR department will strive to find acceptable solutions to any problems. Employee representatives in the Board of DirectorsAO’s Board of Directors consists of eight members, three of whom are employee representatives elected by the employees for a term of four years. The employee representatives ensure that employees have a direct voice in the top management of the company. The employee representatives are, among other things, involved in identifying and assessing actual and poten-tial impact on AO’s workforce. Thus, AO’s employees can influence decisions that directly affect their work environment, working conditions, setting targets  and the company's future development.Approximately six ordinary board meetings are held each year.Employee code of conductAO’s code of conduct, including guidelines and policies for employees, defines and establishes the expected behaviour in both internal and external situations. As part of their onboarding, all new employees are required to complete a mandatory online course with information about AO’s culture.The e-learning course on ethics and compliance clari-fies expectations regarding employees’ ethical behav-iour and actions.All employees are expected to act in accordance with this code of conduct, respecting AO’s principles and commit-ments regarding health and safety, discrimination, anti-corruption and bribery, environment, data protec-tion, etc. Managers are responsible for ensuring the implementation and adherence to the code of conduct.§ Accounting policyWorkers’ representativesData consists of full-time, part-time and temporary employees (students + maternity substitutes), at the end of the reporting period.Health and safetySick leave and workplace accidentsEnsuring a safe and healthy work environment is one of AO's top priorities. Low absence rates and the prevention of workplace accidents are essential for AO employees' well-being and the overall efficiency of the company.AO is continually working on developing preventive measures, which include safety training, ergonomic improvements, health programmes and regular risk assessments. Through systematic follow-up and analysis of the causes of absence and accidents, AO can identify areas for improvement and implement targeted actions. In this way, AO can promote a work environ-ment where safety and health are central, and where all employees thrive and feel secure. Sick leave managementAO places a strong focus on sick leave management, with a policy aimed at supporting an early and proac-tive approach to help retain employees who are on sick leave and, to the largest extent possible, support their return to work as quickly as possible.Through the company’s EarlyCare programme, the organisation and/or an employee who is on sick leave or at risk of taking sick leave can contact EarlyCare and speak with Health Guides who can offer treatment assistance. Early intervention can minimise the risk of illness developing into a long-term absence. The employee is provided with a personal Health Guide who closely follows and supports them through consultations and offers additional treatment options if needed. The Health Guide supports the person throughout the entire process. The goal is to help the employee return to work in a safe, quick, and successful manner.In addition, employees have the option to enrol in the company’s health insurance, which gives them quick and professional access to treatment or assessment if they experience discomfort, illness, or injury. This insur-ance also covers the employee's child or children, and employees can opt to extend the insurance to their spouse, partner, or registered partner at a favourable rate. AO conducts regular workplace assessments (APVs), which allow employees to provide feedback on their physical and psychological working conditions. Action plans are developed based on the feedback, enabling ongoing improvements and the implementation of both existing and new safety protocols to protect employees from injury and stress.AO has implemented ergonomic workstations and robotic technology in its warehouses to reduce physical strain. In other company functions, ergonomic work-spaces have been introduced to prevent work-related ailments.Workplace accidentsAO prioritises employee safety and protection, in part through AO's occupational health and safety committee, which continuously works to prevent accidents by updating and establishing new standards and policies to safeguard employees. The committee actively addresses safety challenges in the workplace, especially in high-risk areas such as logistics and stores. It provides safety briefings to management and conducts regular audits in departments and stores to identify and address potential safety risks.The health and safety committee implements regular safety training for all employees, including refresher courses, to maintain awareness of best practices. Interac-tive workshops and hands-on exercises are held to ensure proper equipment use and risk management. Procedures are updated regularly to keep employees informed and equipped with the necessary knowledge to work safely.Accidents in the workplace are reported through the health and safety committee, which receives informa-tion about incidents and reports them to the public authorities via a safety management system.AO’s goal is to establish a zero-accident culture, partly through risk assessments of work processes to identify potential hazards and initiate preventive actions. This approach enhances employee awareness, engagement, and accountability, fostering a culture of safe be- haviour. The target for 2025 is to reduce our rate of recordable work-related accidents by 20% compared to 2024, consisting of our own employees and non-em-ployees combined.Health and safety management system UoM 2024Percentage of people in its own workforce who are covered by health and safety management system based on legal requirements and (or) recognised standards or guidelines % 100%Health and safety incidents UoM DK SWE 2024Number of fatalities in own workforce as result of work-related injuries and work-re-lated ill health No. 0 0 0Number of fatalities as result of work-related injuries and work-related ill health of other workers working on undertaking's sites No. 0 0 0Number of recordable work-related accidents for own workforce No. 20 0 20Number of recordable work-related accidents for non-employees No. 4 0 4Rate of recordable work-related accidents for own workforce Rate 12.3 0,0 12.3Rate of recordable work-related accidents for non-employees Rate 30.6 0,0 30.6Number of cases of recordable work-related ill health of employees No. 0 0Number of days lost to work-related injuries and fatalities from work-related acci-dents, work-related ill health and fatalities from ill health related to employees No. 48 0 48§ Accounting policyHealth and safety management systemData consists of full-time, part-time, temporary employees (students + maternity substitutes) and non-employees (substitutes) in storage facilities, end of the reporting period.Health and safety incidentsData consists of full-time, part-time, temporary employees (students + maternity substitutes) and non-employees (substitutes) in storage facilities, end of the reporting period.Incidents are recorded with specific information required for formal registration to the labor and welfare authorityDays lost is exclusive non-employees (substitutes) in storage facilitiesEqual treatment and opportunities for allSkill enhancement and further trainingAO’s strategy for skill enhancement is an investment in our employees and in the company’s future success and sustainability.Enhancing skills and providing further training and education are crucial for AO to remain competitive and adapt to ever-changing market needs. AO’s employees are central to its success, and the company invests in their professional development to enhance both individual and organisational competencies. AO encour-ages ongoing learning as an integral part of its culture and offers a wide range of educational opportunities. Skill enhancement is considered an opportunity for AO to increase our employees’ skills and knowledge. AO invests in training programmes and courses that allow employees to develop their skills, expand their competencies, and grow professionally. For example, AO offers a course in pipe-laying techniques with the possibility of advancing to a training course on the construction of sewerage systems, specialised IT courses, and continuing education such as a graduate diplomas. Unskilled warehouse workers are offered a skills assessment, enabling them to pursue a training programme in warehouse and terminal operations and thereby become skilled workers.As part of AO’s social responsibility and commitment to the future workforce, AO prioritises hiring trainees across all company functions. Through the company’s trainee programme, AO provides young people with hands-on learning, professional development, and mentorship programmes that help them build the skills and experience needed for a successful career. This initiative is part of AO’s social responsibility and an important step toward supporting the future workforce, while also creating a talent pipeline for the company. AO views it as its duty to contribute to youth employ-ment and development and work actively to foster a supportive learning culture. By participating in the training of young people, AO supports both its own business goals and society’s need for a skilled work-force, creating value for all involved.To prepare managers for their roles and promote AO’s values, managers are offered a company-tailored lead-ership programme at academy level, developed with a global and societal focus, closely following trends and values in leadership and management.Due to the company’s size, many employees advance or change roles within AO over the course of their careers - both horisontally and vertically.Development and training UoM Female Male TotalPercentage of employees that participated in regular perfor-mance and career development reviews % 18.2% 19.6% 19.2%Average number of training hours per person for employees Avg. 5.0 9.0 7.9§ Accounting policyDevelopment and training Data consists of full-time, part-time and temporary employees (students + maternity substitutes), at the end of the reporting period.Performance and career development reviewsAll employee performance and development reviews is registered, allowing tracking of the total of completed, ongoing and planned reviews.Training hoursData is combined from 2 data sources.First source: AO internal education system with mandatory and voluntary training courses. Second source: Manual tracking of external educa-tion and courses.  The total hours from both sources is used to calcu-late the average training hours.Diversity and InclusionAO recognises that diversity contributes to creating a dynamic and innovative workplace. Through the company’s ethics and compliance policies, AO actively promotes diversity with a focus on respecting human rights. AO strives to foster an inclusive environment at all levels, attracting and retaining talented employees from diverse backgrounds and cultures. The company offers equal opportunities regardless of ethnicity, race, religion, age, gender, disability, sexual orientation, political views, or social status.  In addition, AO has a policy for increasing the underrepresented gender at the company’s other management levels.AO views an inclusive environment as key to achieving long-term success and works continuously to ensure that its workplace reflects these values.Human rightsAO complies with and upholds fundamental inter-national human rights standards, including the UN Universal Declaration of Human Rights, the core prin-ciples on human rights as described in the UN Guiding Principles on Business and Human Rights, the EU Convention on Human Rights, and the basic conventions adopted by the International Labour Organization (ILO), which is an agency of the UN dealing with labour issues.AO’s policy for respect for human rights specifically addresses the right to freely associate, organise, and engage in collective bargaining. AO does not tolerate forced labour, child labour, or discrimination. All employees are required to complete a training course about discrimination, part of the full ethics and compli-ance course.   AO’s policies do not address trafficking in human beings as AO complies with national and local rights and EU legislation. AO’s policy for respect for human rights and supplier code of conduct, which are part of AO’s broader sustain-ability strategy set out by the ESG Council, apply to all employees and business partners, ensuring that respect for human rights is upheld naturally throughout the company.Discrimination, human rights etc. UoM 2024Number of incidents of discrimination No. 0Number of complaints filed through channels for people in own workforce to raise concerns No. 0Number of complaints filed to National Contact Points for OECD Multinational Enterprises No. 0Amount of fines, penalties, and compensation for damages as result of incidents of discrimina-tion, including harassment and complaints filed Amount 0Number of severe human rights issues and incidents connected to own workforce No. 0Number of severe human rights issues and incidents connected to own workforce that are cases of non respect of UN Guiding Principles and OECD Guidelines for Multinational Enter-prises No. 0Amount of fines, penalties, and compensation for severe human rights issues and incidents connected to own workforce No. 0§ Accounting policyDiscrimination, human rights etc.Data consists of full-time, part-time, temporary employees (students + maternity substitutes) and non-employees (substitutes) in storage facilities, at the end of the reporting period.Data collection is from AO's whistleblower system, formal complaints given to own manager or to HR. All formal complaints are registered regardless of channel. Incidents can only be counted if a formal complaint has been made through the whistle-blower system, through the employees' own manager or through  HR.§ Accounting policyGender distribution at top managementData consists of members of the Executive Board and the Group Management. Diversity split and number of members is disclosed at the end of the reporting period.§ Accounting policyWorkers’ representativesData consists of full-time, part-time and temporary emplyees (students + maternity substitutes), at the end of the reporting period.Gender distribution at top management UoM Female Male TotalGender distribution in number of employees (head count) at top management level Headcount 3 7 10Gender distribution in percentage of employees at top manage-ment level % 30.0% 70.0% 100%Equal treatmentAO has developed policies and set clear goals to support diversity in recruitment and career develop-ment. AO strives to ensure a diverse and supportive workplace where equal treatment and opportunities  are central to its values.§ Accounting policyFull time equivalent (FTE)The total number of hours worked divided by the standard number of hours for a full-time employee.AO is focused on creating a work environment that promotes respect, continuous professional growth,  and engagement for all employees, regardless of  background, gender, or personal circumstances. This  is key to attracting and retaining talented employees.Pay-gap UoM 2024Gender-pay gap (male vs female) % 20.4%Remuneration UoM 2024Annual total remuneration ratio Ratio 23.2Non-employees UoM 2024Number of non-employees in own workforce FTE 65Number of non-employees in own workforce - self-employed people FTE 0Number of non-employees in own workforce - people provided by undertakings primarily engaged in employ-ment activities FTE 0Age groups UoM 2024Distribution of employees (head count) under 30 years old Headcount 182Distribution of employees (head count) between 30 and 50 years old Headcount 436Distribution of employees (head count) over 50 years old Headcount 411The gender pay gap reflects historical sector factors in the industry in which AO operates, where more men histori-cally have pursued careers within the construction sector and make up the majority of the talent pool, which is evident in our leadership levels and throughout the organ-isation. Many of AO’s diversity initiatives aim to balance gender representation in leadership and throughout the organisation and achieve pay equity for equal qualifica-tions and jobs. Although AO practices equal pay for equal work, the overall figures are affected by the gender imbal-ance in the sector. Without these sector-specific impacts, our gender pay data reflects equality.§ Accounting policyPay-gapData consists of full-time, part-time, temporary employees (students + maternity substitutes), for the whole reporting period. Data used for the calculation is a "full salary package" i.e. salary, bonus, holiday pay, pension, benefits. Calculation is based on the difference of average pay levels between female and male employees, expressed as percentage of the average pay level of male employees (data includes all employees ’ gross hourly pay level).Remuneration ratioData consists of full-time, part-time, temporary employees (students + maternity substitutes), for the whole reporting period. Calculation is based on the highest paid individual to the median annual total remuneration for all employees (excluding the high-est-paid individual). Data used for the calculation is a "full salary package" i.e. salary, bonus, holiday pay, pension, benefits.Non-employeesData consists of non-employees (substitutes) in storage facilities, at the end of the reporting period.Age groupsData consists of full-time, part-time, temporary employees (students + maternity substitutes), at the end of the reporting period.Employees UoM Female Male TotalNumber of employees (head count) Headcount 285 744 1,029Number of employees (FTE) FTE 249 732 981Permanent employees UoM Female Male TotalNumber of employees (head count) Headcount 268 701 969Number of employees (FTE) FTE 232 689 921Temporary employees UoM Female Male TotalNumber of employees (head count) Headcount 17 43 60Number of employees (FTE) FTE 17 43 60Employees by country UoM Female Male TotalDenmark Headcount 274 697 971Norway Headcount 3 5 8Sweden Headcount 8 42 50*This table covers S1-6 and SBM-1§ Accounting policyTemporary employeesData consists of students and maternity substitutes, at Employeesthe end of the reporting period.Data consists of full-time, part-time and temporary employees (students + maternity substitutes), at the Employees by countriesend of the reporting period.Data consists of full-time, part-time and temporary employees (students + maternity substitutes), at the Permanent employeesend of the reporting period.Data consists of full-time and part-time employees, at the end of the reporting period.G1 Business ConductImpact, risks and opportunitiesAO is committed to conducting its business responsibly and fairly, with a strong emphasis on partnerships. As a major player in the Danish construction industry, AO’s operations span over 400,000 products sourced from more than 1,000 suppliers, creating both opportunities and potential risks. Ensuring that the company main-tains the highest standards of business conduct and governance is central to AO’s corporate culture, particu-larly in managing the complexities of international business value chains.The company has procedures and systems in place for reporting misconduct. In a large and complex business network, there are inherent risks such as corruption, bribery, harassment, and participation in an informal economy if not properly managed. AO actively promotes a culture of integri- ty and honesty throughout its business, with clear guidelines and regular training on ethical behaviour. This includes stringent anti-corruption policies and a zero-tolerance stance toward unethical conduct. By setting high standards within AO, it is ensured that both employees and business partners adhere to best prac-tices, reducing the risk of improper business practices infiltrating AO’s operations. The AO culture is promoted on the company’s internal e-learning environment. A whistleblower system for both external and internal has been implemented. Without adequate whistle-blower protection, individuals may hesitate to report misconduct due to fear of retaliation. A lack of trust in whistleblower systems can lead to unreported incidents, both internally and across the company’s value chain, increasing the risk of legal violations and reputational harm. AO is committed to safeguarding whistleblowers by implementing robust and anonymous reporting mechanisms. AO ensures that whistleblowers are protected from any negative consequences, thereby fostering a culture of openness and accountability. Extending these practices to AO’s value chain also strengthens its oversight of suppliers and partners, allowing AO to detect and address any potential issues early.Imposing long payment terms on smaller suppliers could potentially destabilise their financial health. AO is committed to fair and responsible supplier relations. AO prioritises timely payments and equitable terms. By maintaining fair payment practices, AO not only supports the sustainability of its suppliers but also preserve its reputation as a trusted and reliable partner.AO enforces strict anti-corruption policies and regularly audits its business practices to ensure compliance with all relevant laws and ethical standards. Employees and part-ners are trained on recognising and preventing corrupt practices, and AO’s systems are designed to prevent unethical behaviour at all levels of the organisation. By promoting transparency and ensuring that all decisions are free from undue influence, AO protects both its repu-tation and the integrity of its business operations.AO commits to a culture of honesty, transparency, and accountability to reduce risks and enhance its relation-ships with stakeholders, from suppliers to customers and employees.Effective governance leads to long-term business sustainability. By ensuring ethical business conduct, timely supplier payments, and strong whistleblower protection, AO creates a more resilient and trustworthy organisation. These measures also position AO as a preferred partner in the market, attracting like-minded businesses and customers who value integrity and responsible corporate practices.AO’s approach to business conduct and governance is centred on maintaining the highest ethical standards, fostering transparency, and protecting its business relationships. By mitigating risks related to corruption, supplier relations, and whistleblower protection, AO upholds its reputation as a fair and responsible player in the industry, while seizing opportunities to build stronger, more sustainable partnerships.Maintaining clear communication about the compa-ny’s business conduct and corporate culture is key to AO’s success. AO’s policies not only provide a strong foundation for how AO operates but also create a tangible set of guidelines for AO’s employees to follow. A well-defined code of conduct, backed by mechanisms for reporting and investigating concerns, is crucial in fostering transparency and accountability throughout the organisation.AO places emphasis on keeping its policies relevant and up to date, ensuring they remain aligned with international standards, including UN conventions. AO’s corporate culture is built on integrity and responsibility, and it is vital that all employees understand how AO conducts business and the expectations surrounding ethical behaviour. By providing clear guidance on these policies, AO helps employees navigate challenges and contribute to maintaining AO's reputation as an honest and responsible business.In addition to other mandatory courses on, for example, corruption and bribery, environmental policies, etc, all new employees are required to complete a training course on business conduct in AO. The training courses are expected to be completed during the beginning of the employment.Corporate culture Business practice and ethicsAt AO, ethical business practices are at the heart of how the company operates. To ensure that AO’s business conduct aligns with its values and those of its partners, AO has developed a Supplier Code of Conduct. This Code is a key part of the commercial agreements between AO and its suppliers, serving as a framework to align expec-tations regarding business practices and ethics.The Supplier Code of Conduct outlines essential provisions for compliance with internationally recog-nised standards on workers’ rights, human rights, environmental protection, and the prevention of bribery and corruption. AO holds both its suppliers and their subcontractors accountable to these high standards. In 2024, AO recorded no breaches or instances of non-compliance with its Supplier Code of Conduct, reflecting the commitment of our partners to uphold these values.The Supplier Code of Conduct has been approved by the Board of Directors and can be accessed here:The Supplier Code of Conduct 2024 https://ao.dk/globalassets/download/regnskabsdata/2024/2024-supplier-code-of-conduct.pdfIn addition to these provisions, while no separate goals or activities were completed specifically in 2024 regarding workers’ rights, human rights, or anti-corrup-tion, AO remains observant. AO continues to monitor and assess its practices to identify areas for further action as needed.In the fall of 2023, AO initiated an ESG Supplier Survey to screen all its suppliers. This screening is part of AO’s ongoing effort to strengthen risk management and enhance its due diligence processes, ensuring that sustainability and ethical standards are integrated into every aspect of its operations.AO believes that strong partnerships with our customers and suppliers provide the foundation for focusing on sustainable solutions across its entire value chain. At AO, the customer is paramount, and this commitment extends to offering products that meet high environmental standards. In 2024, AO increased the percentage of products with ecolabels or prod-ucts that have undergone life cycle analysis from our suppliers. This allows AO to support its customers in making more sustainable choices by prioritising certi-fied products and engaging with them on these matters.Looking ahead, AO aims to pass on sustainability awareness from its suppliers to its customers through information sharing and expertise training for its staff. AO also seeks to inspire and encourage its partners to adopt sustainable solutions. AO will continue to advo-cate for sustainability through industry associations, employers’ associations, and in collaboration with public authorities, contributing to a more sustainable future in the construction industry.Tax policyTaxes play an important role in society and the devel-opment of the countries in which AO operates. AO contributes to this by taking on its share of social responsibility regarding common welfare and sustaina-bility through tax.AO pursues a responsible and transparent tax practice and does not support tax evasion, contribute to tax speculation, or misuse of tax laws. AO complies with applicable tax laws and pays the correct taxes and duties at the appropriate time in the countries in which AO operates.AO provides full transparency and openness to both tax authorities and the company's other stakeholders. The company has zero tolerance for tax evasion or abuse. It must always be possible to explain and defend tax dispositions.AO expects its customers, suppliers, and other partners to have the same view on tax payment as the company. AO’s tax policy can be viewed here:Tax Policy 2024 https://ao.dk/globalassets/download/regnskabsdata/2024/2024-tax-policy-_final.v2.pdfPayment PracticesAO is committed to fair and transparent payment prac-tices for all suppliers, regardless of their size including SMEs. AO ensures that all suppliers, whether SMEs or large companiesand  across all categories, are treated equally with respect to payment terms, maintaining consistent conditions. AO’s payment system is struc-tured to process payments twice a week, with devia-tions from this schedule occurring only in rare cases.While AO does not disclose specific details of its standard payment terms, AO upholds equal treatment in all supplier transactions. On average, AO can calcu-late the number of days before payments are processed through its system, further ensuring timely and reliable payments to its partners. This approach strengthens AO’s relationships with suppliers and reinforces its commitment to responsible business practices.Payment practices UoM 2024Average number of days to pay invoice Days 1.5Percentage of payments aligned with standard payment terms % 94.9%Number of outstanding legal proceedings for late payments No. 0AO accept reverse factoring as a payment option. This allows the supplier to be paid within a few days from delivery.§ Accounting PolicyStandard payment termsThe Groups standard payment terms are "Current month plus 60 days." unless other payment terms are agreed with the supplier.Payment practicesPayments to suppliers are made twice a week in accordance with agreed payment terms.Protection of whistleblowersAO has chosen to establish a whistleblower scheme that allows its employees as well as external stake-holders to report serious violations or suspicion thereof in a confidential matter.Employees are informed about the whistleblower system and where to access it. Other stakeholders may access the system through the Group’s websites. Information about AO’s policy on and usage of the whistleblower system is available on AO’s intranet and the Group’s websites. No formal training is conducted or required to use the reporting system. The scheme is administered by an independent third party to secure the anonymity and confidentiality of the reporting person. Incidents will be managed by the independent third party and forwarded to AO where they will be processed and investigated in accordance with AO’s whistleblower procedure which is available on AO’s intranet and various websites. Zero whistleblower reports have been received in 2024.Once a year, the Board of Directors will assess whether the scheme is working as intended. In 2024, it was decided to extend the scheme to include external stakeholders.The whistleblower system is an integral part of AO to prevent, detect and address allegations and incidents of corruption and bribery. AO’s whistleblower policy can be viewed here:Whistleblower Policy 2024 https://ao.dk/om-ao/whistleblowerCorruption and briberyAO complies with applicable legislation and interna-tional conventions on corporate governance, including workers’ rights, human rights, environment, bribery, and corruption, in the countries in which AO operates. AO maintains a zero-tolerance approach to violations of these conditions or breaches of rights.Rules on anti-corruption and bribery are covered by the company’s own rules and ethical guidelines. In the company’s view, the countries in which AO does busi-ness are all well-regulated in respect of these areas.AO is aware that its dealings with suppliers pose the most significant risk of infringement or violation in these areas, primarily due to direct and indirect purchasing from countries where local legislation is not followed or enforced to the same degree.AO regularly monitors purchasing patterns and the origin of its goods to ascertain the risk of non-compli-ance with AO’s Supplier Code of Conduct.Given the current distribution of its purchases, AO is of the opinion that the company is only at a limited risk of being indirectly involved in violations of workers’ rights, human rights and rules on anti-corruption and bribery, given that AO operates only in well-regulated countries and that 82% of the company’s purchases originate (2023: 83%) from Europe.§ Accounting policyPurchase originsPurchase pattern is calcu-lated as: Total volume of purchase of goods deter-mined by country of origin as informed by suppliers.Incidents of corruption or bribery UoM 2024Number of convictions for violation of anti-corrup-tion and anti- bribery laws No. 0Amount of fines for violation of anti-corruption and anti- bribery laws No. 0Any actions taken to address breaches in proce-dures and standards of anti-corruption and anti-bribery. No. 0In 2024, AO decided to implement a mandatory online corruption and bribery course for all employees. The purpose is to give every employee the necessary know- ledge on how to act in difficult situations or who to ask for guidance if there is any confusion or uncertainty. It is the target that all employees undergo the training within 3 months after joining AO.No specific process has been established for reporting on results from investigations of incidents.Prevention and detection of corruption and bribery UoM 2024The percentage of functions-at-risk covered by training programmes (Corruption and Bribery) - Passed % 92.0%Not started / In progress % 8.0%AO takes business conduct seriously and does not tolerate violations in relation to corruption and bribery.§ Accounting policyIncidents of corruption or briberyNumber of incidents is based on reported inci-dents that has led to conviction for a violation, the monetary amount for violation fines and if any actions was taken.If any actions are necessary, further details will be presented. Functions-at-riskFunctions-at-risk consists of purchasing depart-ment, sales management &amp; IT management.Completion rate is stated as of the end of the period.Cross-cutting standardsESRS 2 General disclosures Section/ report PageBP-1 General basis for preparation of sustainability statements SUS 50BP-2 Disclosures in relation to specific circumstances SUS 50-51Datapoints that derive from other EU legislation SUS 112-115The role of the administrative, management and GOV-1supervisory bodies MR 31Information provided to and sustainability matters addressed by the undertaking’s administrative, GOV-2management and supervisory bodies SUS 53-54Integration of sustainability-related performance in GOV-3incentive schemes SUS 54GOV-4 Statement on sustainability due diligence SUS 111Risk management and internal controls over sustainability GOV-5reporting SUS 54SBM-1 Strategy, business model and value chain FS 13SBM-2 Interests and views of stakeholders SUS 55Material impacts, risks and opportunities and their SBM-3interaction with strategy and business model SUS 56-59Description of the process to identify and assess material IRO-1impacts, risks and opportunities SUS 60-62Disclosure requirements in ESRS covered by the IRO-2undertaking’s sustainability statement SUS 109-111Environmental standardsESRS E1 Climate change Section/ report PageESRS 2 Integration of sustainability-related performance in GOV-3incentive schemes SUS 54E1-1 Transition plan for climate change mitigation SUS 66-68ESRS 2 Material impacts, risks and opportunities and their SBM-3interaction with strategy and business model SUS 57ESRS 2 Description of the processes to identify and assess IRO-1material climate-related impacts, risks and opportunities SUS 64-65Disclosure Requirement E1-2 – Policies related to climate E1-2change mitigation and adaptation SUS 67-68Disclosure Requirement E1-3 – Actions and resources in E1-3relation to climate change policies SUS 67Targets related to climate change mitigation and E1-4adaptation SUS 67E1-5 Energy consumption and mix SUS 69E1-6 Gross Scopes 1, 2, 3 and Total GHG emissions SUS 70GHG removals and GHG mitigation projects financed E1-7through carbon credits - -E1-8 Internal carbon pricing - -Anticipated financial effects from material physical and E1-9transition risks and potential - -Environmental standardsSocial standardsESRS E2 Pollution Section/ report PageESRS S1 Own workforce PageESRS 2 Description of the processes to identify and assess ESRS 2 IRO-1material pollution-related impacts, risks and opportunities SUS 56, 74SBM-2 Interests and views of stakeholders SUS 55, 88E2-1 Policies related to pollution SUS 74-75ESRS 2 Material impacts, risks and opportunities and their interaction with 58, SBM-3strategy and business model SUS87-88E2-2 Actions and resources related to pollution SUS 75S1-1 Policies related to own workforce SUS 88E2-3 Targets related to pollution SUS 75Processes for engaging with own workforce and workers’ E2-4 Pollution of air, water and soil - -S1-2representatives about impacts SUS 91-92Substances of concern and substances of very high Processes to remediate negative impacts and channels for own E2-5concern SUS 75-76S1-3workforce to raise concerns SUS 90Anticipated financial effects from pollution-related Taking action on material impacts on own workforce, and approaches to E2-6impacts, risks and opportunities - -managing material risks and pursuing material opportunities related to S1-4own workforce, and effectiveness of those actions SUS 88Targets related to managing material negative impacts, advancing S1-5positive impacts, and managing material risks and opportunities SUS 88Environmental standardsS1-6 Characteristics of the undertaking’s employees SUS 98-99ESRS E5 Resource use and circular economy Section/ report PageS1-7 Characteristics of non-employees in the undertaking’s own workforce SUS 98S1-8 Collective bargaining coverage and social dialogue SUS 90Description of the processes to identify and assess ESRS 2 material resource use and circular economy-related S1-9 Diversity metrics SUS 97-99IRO-1impacts, risks and opportunities SUS 57, 77S1-10 Adequate wages SUS 90E5-1 Policies related to resource use and circular economy SUS 77S1-11 Social protection SUS 93-94Actions and resources related to resource use and circular S1-12 Persons with disabilities - -E5-2economy SUS 78S1-13 Training and skills development metrics SUS 96E5-3 Targets related to resource use and circular economy SUS 78S1-14 Health and safety metrics SUS 94E5-4 Resource inflows SUS 78S1-15 Work-life balance metrics SUS 91E5-5 Resource outflows SUS 78-79S1-16 Remuneration metrics (pay gap and total remuneration) SUS 98Anticipated financial effects from resource use and E5-6circular economy-related impacts, risks and opportunities - -S1-17 Incidents, complaints and severe human rights impacts SUS 97Governance standardsStatement on sustainability due diligenceESRS G1 Business conduct Section/ report PageCore elements of due diligence Section/ report PageESRS 2 The role of the administrative, supervisory and Embedding due diligence in governance,strategy and GOV-1management bodies MR 311business model General 50-54ESRS 2 Description of the processes to identify and assess 50, IRO-1material impacts, risks and opportunities SUS 61-62Engaging with affected stakeholders in all key steps 52-55, 2of the due diligence General61G1-1 Business conduct policies and corporate culture SUS 103General56-62, G1-2  Management of relationships with suppliers - -Environment 66, 74, G1-3  Prevention and detection of corruption and bribery SUS 106-107Social 77, 87, 3 Identifying and assessing adverse impactsGovernance101G1-4  Incidents of corruption or bribery SUS 1074 Taking actions to address those adverse impacts Environment 67, 78G1-5  Political influence and lobbying activities - -Environment G1-6  Payment practices SUS 104Tracking the effectiveness of these efforts and Social  67, 75, 5communicating78, 88EU legislation data points Benchmark EU Climate Disclosure SFDR Pillar 3 regulation Law requirement Datapoint Sustainability statementsreferencereferencereferencereference Section PageESRS 2 GOV-1 21 (d) Board's gender diversity   MR 33-35ESRS 2 GOV-1 21 (e) Percentage of board members who are independent  MR 33-35ESRS 2 GOV-4 30 Statement on due diligence  SUS 111ESRS 2 SBM-1 40 (d) i Involvement in activities related to fossil fuel activities    Not relevant -ESRS 2 SBM-1 40 (d) ii Involvement in activities related to chemical production   Not relevant -ESRS 2 SBM-1 40 (d) iii Involvement in activities related to controversial weapons   Not relevant -ESRS 2 Involvement in activities related to cultivation and production of SBM-1 40 (d) ivtobacco  Not relevant -ESRS E1-1 14 Transition plan to reach climate neutrality by 2050  SUS 66-67ESRS E1-1 16 (g) Undertakings excluded from Paris-aligned Benchmarks   Not relevant -ESRS E1-4 34 GHG emission reduction targets    SUS 69-70Energy consumption from fossil sources disaggregated by sources (only ESRS E1-5 38high climate impact sectors)  Not relevant -ESRS E1-5 37 Energy consumption and mix  SUS 69Energy intensity associated with activities in high climate impact ESRS E1-5 40-43sectors  Not relevant -ESRS E1-6 44 Gross Scope 1, 2, 3 and Total GHG emissions    SUS 70ESRS E1-6 53-55 Gross GHG emissions intensity    SUS 70Benchmark EU Climate Disclosure SFDR Pillar 3 regulation Law requirement Datapoint Sustainability statementsreferencereferencereferencereference Section PageESRS E1-7 56 GHG removals and carbon credits  Not material -ESRS E1-9 66 Exposure of the benchmark portfolio to climate-related physical risks  Not material -66 (a); Disaggregation of monetary amounts by acute and chronic physical ESRS E1-966(c)risk; Location of significant assets at material physical risk  Not material -Breakdown of the carrying value of its real estate assets by energy-effi-ESRS E1-9 67 (c)ciency classes  Not material -ESRS E1-9 69 Degree of exposure of the portfolio to climate-related opportunities  Not material -Amount of each pollutant listed in Annex II of the E-PRTR Regulation ESRS E2-4 28emitted to air, water and soil  Not material -ESRS E3-1 9 Water and marine resources  Not material -ESRS E3-1 13 Dedicated policy  Not material -ESRS E3-1 14 Sustainable oceans and seas  Not material -ESRS E3-4 28 (c) Total water recycled and reused  Not material -3ESRS E3-4 29 Total water consumption in m per net revenue on own operations  Not material -ESRS 2 SBM-3 - E4 16 (a) i  Not material -ESRS 2 SBM-3 - E4 16 (b)  Not material -ESRS 2 SBM-3 - E4 16 (c)  Not material -ESRS E4-2 24 (b) Sustainable land / agriculture practices or policies  Not material -ESRS E4-2 24 (c) Sustainable oceans / seas practices or policies  Not material -ESRS E4-2 24 (d) Policies to address deforestation  Not material -ESRS E5-5 37 (d) Non-recycled waste  SUS 79Benchmark EU Climate Disclosure SFDR Pillar 3 regulation Law requirement Datapoint Sustainability statementsreferencereferencereferencereference Section PageESRS E5-5 39 Hazardous waste and radioactive waste  SUS 79ESRS 2 SBM-3 - S1 14 (f) Risk of incidents of forced labour  Not relevant -ESRS 2 SBM-3 - S1 14 (g) Risk of incidents of child labour  Not relevant -ESRS S1-1 20 Human rights policy commitments  SUS 97Due diligence policies on issues addressed by the fundamental Interna-ESRS S1-1 21tional Labor Organisation Conventions 1 to 8  87-88ESRS S1-1 22 Processes and measures for preventing trafficking in human beings  SUS 9787, ESRS S1-1 23 Workplace accident prevention policy or management system  SUS93-94ESRS S1-3 32 (c) Grievance/complaints handling mechanisms  SUS 93-9488 (b) and ESRS S1-14(c) Number of fatalities and number and rate of work-related accidents   SUS 94ESRS S1-14 88 (e) Number of days lost to injuries, accidents, fatalities or illness  SUS 94ESRS S1-16 97 (a) Unadjusted gender pay gap   SUS 98ESRS S1-16 97 (b) Excessive CEO pay ratio  SUS 98ESRS S1-17 103 (a) Incidents of discrimination  SUS 97ESRS S1-17 104 (a) Non-respect of UNGPs on Business and Human Rights and OECD   Not relevant -ESRS 2 SBM-3 - S2 11 (b) Significant risk of child labour or forced labour in the value chain  Not material -ESRS S2-1 17 Human rights policy commitments  Not material -ESRS S2-1 18 Policies related to value chain workers  Not material -Benchmark EU Climate Disclosure SFDR Pillar 3 regulation Law requirement Datapoint Sustainability statementsreferencereferencereferencereference Section PageNon-respect of UNGPs on Business and Human Rights principles and ESRS S2-1 19OECD guidelines   Not material -Due diligence policies on issues addressed by the fundamental Interna-ESRS S2-1 19tional Labor Organisation Conventions 1 to 8  Not material -Human rights issues and incidents connected to its upstream and ESRS S2-4 36downstream value chain  Not material -ESRS S3-1 16 Human rights policy commitments  Not material -Non-respect of UNGPs on Business and Human Rights, ILO principles or ESRS S3-1 17and OECD guidelines   Not material -ESRS S3-4 36 Human rights issues and incidents  Not material -ESRS S4-1 16 Policies related to consumers and end-users  Not material -Non-respect of UNGPs on Business and Human Rights and OECD ESRS S4-1 17guidelines   Not material -ESRS S4-4 35 Human rights issues and incidents  Not material -ESRS G1-1 §10 (b) United Nations Convention against Corruption  Not material -ESRS G1-1 §10 (d) Protection of whistle- blowers  SUS 105ESRS G1-4 §24 (a) Fines for violation of anti-corruption and anti-bribery laws   SUS 107ESRS G1-4 §24 (b) Standards of anti- corruption and anti-bribery  SUS 106-107</mrv:SustainabilityReport>
   <mrv:LinkToCorporateGovernanceReport contextRef="ctx-1" id="f1__s8__7__8">https://ao.dk/globalassets/download/regnskabsdata/2024/statutory-report-on-corporate-governance-2024.pdf</mrv:LinkToCorporateGovernanceReport>
   <mrv:StatementOfPolicyForDataEthics contextRef="ctx-1" id="f1__s8__7__10" xml:lang="en">Data ethicsStatutory Statement on Data Ethics, cf. Section 99d of the Danish Financial Statements ActThis statutory statement on data ethics of Brødrene A&amp;O Johansen A/S is part of the Management’s review in the Annual Report for 2024 and covers the accounting period from 1 January to 31 December 2024.Brødrene A &amp; O Johansen A/S is the only Danish company in the group covered by the rules. Therefore, this statement only applies to Brødrene A &amp; O Johansen A/S (hereinafter referred to as ‘AO’).Statement on Data Ethics It is important for AO that customers and other business partners can trust AO’s processing of data. AO has therefore chosen to focus on data ethics, so that it is constantly ensured that data is processed ethically for the common good of both customers and AO.  Consequently, the Board of Directors has adopted a data ethics policy; a policy that determines AO's posi-tion on and handling of data ethics issues. The policy is based on a series of data ethics principles about · Management's dedication to data ethics · Responsible processing of data in accordance with rules and society's perception · Ensure transparency of processing operations · Avoid discrimination and exclusion · Support privacy and information security · Training of employees.It is AO’s goal that all employees are aware of the data ethics values that underlie AO’s work with data. There-fore, there is continuous awareness-raising about the data ethics policy, and all employees are required to complete a data ethics training programme. AO makes extensive use of data to optimise business processes and develop its operations. AO has therefore estab-lished a data ethics working group to address data ethics issues. The purpose of the data ethics working group includes making recommendations on specific data ethics challenges and ensuring compliance with AO’s data ethics policy.AO has, for a number of years, been highly focused on protecting data – including personal data – from unauthorised disclosure. This protection includes, among other things, deletion, data minimisation, and safeguarding through technical and organisational measures. In the autumn of 2024, AO has therefore been certified according to a standard for information security (ISO27001) and a standard for data protection (ISO27701). Compliance with these standards ensures that all data is secured in a reasonable manner and that the outside world can trust AO’s use of data.The data ethics working group has also ensured that AO’s use of artificial intelligence (AI) on data has been mapped within AO. In the summer of 2024, AO’s IT Security Council conducted a mapping of where AI is used in AO. At the end of 2024, the data ethics working group has been author-ised to assess data ethics issues before AI-based projects are put into operation. These assessments will, among other things, focus on legality, reasonableness, and bias. In 2025, the data ethics working group will therefore focus on AI-based projects and continuously assess whether there is a need to adjust the use of AI within AO.</mrv:StatementOfPolicyForDataEthics>
   <mrv:DescriptionofTheTaxonomyRegulation contextRef="ctx-1" id="f1__s8__7__12" xml:lang="en">EU TaxonomyUnder the EU Taxonomy Regulation, listed companies employing more than 500 people must disclose the share of their revenue, expenses and capital employed in 2024 that are defined as environmentally sustainable under the Taxonomy Regulation.For the 2024 financial year, reporting is required in relation to “Countering climate change”,  “Adapting to climate change”, "Water", "Pollu-tion", "Circular Economy", and "Biodiversity and ecosystems".AO is an environmentally aware and climate conscious company. As stated previously, AO’s direct carbon footprint is limited, as we are a wholesaler and conduct neither major produc-tion nor other activities that could potentially harm our environment and climate. That is why reporting on the environmental sustainability of our activities as defined in the EU Taxonomy Regulation is limited and does not present a complete view of our environmental and climate efforts, as they extend beyond our own activi-ties. See section “Environment and climate” for more information about our activities.We have conducted an analysis of our activities to identify if any of our activities are eligible as defined in the Annexes 1-2 of the Climate delegated act or in the Annexes 1-4 of the Envi-ronmental delegated act in the EU Taxonomy Regulation. The aim of this has been to identify whether AO has any reportable turnover, invest-ments or expenses to be included in our report for 2024.Wholesale trading is not included as a separate activity in the EU Taxonomy Regulation. Hence AO only has sub-activities that are covered by the Regulation.Identified areas with eligible economic activ-ities during the reporting period were further assessed for alignment. However, AO does not claim alignment for 2024 due to insufficient documentation in the relevant areas.Reporting in accordance with the taxonomyAccording to the classification system in the EU Taxonomy, AO is required to submit a report in relation to activity “CCM 6.5 Transport by motor-bikes, passenger cars and commercial vehicles”, "CCM 7.6 Installation, maintenance and repair of renewable energy technologies” and activity “CCM 7.7 Acquisition and ownership of build-ings”. All three activities are deemed to have the potential to contribute to the environmental and climate objective “Adapting to climate change”.We have compared the three identified activities "CCM 6.5 Transport by motorbikes, passenger cars and commercial vehicles”, "CCM 7.6 Instal-lation, maintenance and repair of renewable energy technologies” and "CCM 7.7 Acquisition and ownership of buildings” with technical screening criteria according to the Delegated Regulation 2021/2139 and have identified 0% of our revenue, 56% of our investments, and 27 % of our total maintenance expenses to be eligible according to the classification system, cf. below in the taxonomy form for turnover, capital expenditure (CapEx) and operating expenses (OpEx). None of the turnover, investments or operating expenses have been assessed as being environmentally sustainable activities.As yet, no capital expenditure plan for upgrading our investments to become environmentally sustainable in the longer term has been made.This is illustrated below in the mandatory tables in accordance with Delegated Regulation (EU) 2021/852.Taxonomy form for turnoverSubstantial Contribution Criteria DNSH criteria ('Does Not Significantly Harm')Economic Activities (1)A. Taxonomy-eligible activities 2023A.1. Environmentally sustainable activities (Taxonomy-aligned)Turnover of environmentally sustain-0 0% 0% 0% 0% 0% 0% 0% N/A N/A N/A N/A N/A N/A N/A 0% 0% 0%able activities  (Taxonomy-aligned) (A.1) Of which EnablingOf which TransitionalA.2 Taxonomy-Eligible but not environmentally sustainable activities (not Taxonomy-aligned activities)Turnover of Taxonomy-eligible but not 0 0% 0%environmentally  sustainable activities (not Taxono-my-aligned activities) (A.2)A. Turnover of Taxonomy eligbile activi-0 0% 0%ties (A.1+A.2)B. Taxonomy-non-eligible activitiesTurnover of Taxonomy-non-eligible 5,429.3 100% 100%activitiesTotal Turnover (A+B) 5,429.3 100% 100%Taxonomy form for capital expenditure (CapEx) Substantial Contribution Criteria DNSH criteria ('Does Not Significantly Harm')Economic Activities (1)A. Taxonomy-eligible activities 2023A.1. Environmentally sustainable activities (Taxonomy-aligned)CapEx of environmentally sustainable 0 0% 0% 0% 0% 0% 0% 0% N/A N/A N/A N/A N/A N/A N/A 0% 0% 0%activities  (Taxonomy-aligned) (A.1) Of which EnablingOf which TransitionalA.2 Taxonomy-Eligible but not environmentally sustainable activities (not Taxonomy-aligned activities)Acquisition and ownership of buildings CC M 7.7 84.5 49% 33%Installation, maintenance and repair of CCM 7.6 2.7 2%renewable energy technologiesTransport by motorbikes, passenger CCM 6.5 9.5 6% 18%cars and light commercial vehiclesCapEx of Taxonomy-eligible but not 96.7 56% 51%environmentally sustainable activities (not Taxonomy-aligned activities) (A.2)A. CapEx of Taxonomy eligible activi-96.7 56% 51%ties (A.1+A.2)B. Taxonomy-non-eligible activitiesCapEx of Taxonomy-non-eligible 75.1 44% 49%activitiesTotal CapEx (A+B) 171.8 100% 100%Taxonomy form for operating expenditure (OpEx)Substantial Contribution Criteria DNSH criteria ('Does Not Significantly Harm')Economic Activities (1)A. Taxonomy-eligible activities8% 2023A.1. Environmentally sustainable activities (Taxonomy-aligned)OpEx of environmentally sustainable 0 0% 0% 0% 0% 0% 0% 0% N/A N/A N/A N/A N/A N/A N/A 0% 0% 0%activities  (Taxonomy-aligned) (A.1) Of which EnablingOf which TransitionalA.2 Taxonomy-Eligible but not environmentally sustainable activities (not Taxonomy-aligned activities)Acquisition and ownership of buildings CCM 7.7 14.0 24% 23%(OpEx B)Installation, maintenance and repair of CCM 7.6 0 0%renewable energy technologiesTransport by motorbikes, passenger cars CCM 6.5 1.4 2% 4%3and light commercial vehicles (OpEx C)OpEx of Taxonomy-eligible but not 15.3 27% 27%environmentally sustainable activities (not Taxonomy-aligned activities) (A.2)A. OpEx of Taxonomy eligible activities 15.3 27% 27%(A.1+A.2)B. Taxonomy-non-eligible activitiesOpEx of Taxonomy-non-eligible activities 41.9 73% 73%Total OpEx (A+B) 57. 2 100% 100%Accounting policiesAll KPIs have been calculated on Group level in accordance with Commission Delegated Regu-lation (EU) 2021/2178 of 6 July 2021 supple-menting Regulation (EU) 220/852 of the Euro-pean Parliament and of the Council, Annex 1. Our accounting policies below are described in detail to allow a better understanding of how the proportion of our taxonomy-aligned and taxono-my-eligible activities has been calculated.Turnover Turnover is calculated on the same basis as the turnover in the financial statements. No turn-over has been identified for activity "CCM 6.5 Transport by motorbikes, passenger cars and commercial vehicles", "CCM 7.6 Installation, maintenance and repair of renewable energy technologies” and activity "CCM 7.7 Acquisition and ownership of buildings".CapExCapital expenditure for activity "CCM 6.5 Trans-port by motorbikes, passenger cars and commer-cial vehicles” is calculated on the basis of Annex 1, section 1.1.2 and includes the purchase and lease of company cars and other vehicles. This is viewed in relation to the total investments in "Intangible assets" (excluding goodwill), "Prop-erty, plant and equipment" and "Right-of-use assets", cf.  notes 3.1-3.3 of AO’s Annual Report for 2024.Capital expenditure for activity "CCM 7.6 Instal-lation, maintenance and repair of renewable energy technologies” is calculated on the basis of Annex 1, section 1.1.2 and includes the purchase and lease of solar panels. This is viewed in relation to the total investments in "Intangible assets" (excluding goodwill), "Prop-erty, plant and equipment" and "Right -of-use assets", cf. notes 3.1-3.3 of AO’s Annual Report for 2024.Capital expenditure for activity "CCM 7.7 Acquisi-tion and ownership of buildings” is calculated on the basis of Annex 1, section 1.1.2 and includes all acquisitions and property leases. This is viewed in relation to the total investments in "Intangible assets" (excluding goodwill), "Prop-erty, plant and equipment" and "Right -of-use assets", cf. notes 3.1-3.3 of AO’s Annual Report for 2024.OpExOperating expenses for activity "CCM 6.5 Transport by motorbikes, passenger cars and commercial vehicles" are calculated on the basis of Annex 1, section 1.1.3. and include all direct maintenance expenses associated with the Group’s company cars and other vehicles. The proportion of operating expenses is calcu-lated as direct maintenance expenses viewed in relation to the Group's total maintenance expenses. Operating Expenses for activity "CCM 7.6 Instal-lation, maintenance and repair of renewable energy technologies” are calculated on the basis of Annex 1, section 1.1.3. and include all direct installation and maintenance expenses associ-ated with the operative administration of own and leased property.The proportion of maintenance expenses is calculated as direct maintenance expenses viewed in relation to the Group's total mainte-nance expenses.Operating Expenses for activity "CCM 7.7 Acqui-sition and ownership of buildings“ are calcu-lated on the basis of Annex 1, section 1.1.3. and include all direct maintenance expenses asso-ciated with the operative administration of own and leased property.The proportion of maintenance expenses is calculated as direct maintenance expenses viewed in relation to the Group's total mainte-nance expenses. Through cross checking with the Annual Report for 2024, it has been ensured that there is no duplication of the components included in the calculation of revenue, capital expenditure and operating expenses.</mrv:DescriptionofTheTaxonomyRegulation>
   <mrv:StatementOfTheDiversityPolicies contextRef="ctx-1" id="f1__s8__7__14" xml:lang="en">Equal treatment and opportunities for allSkill enhancement and further trainingAO’s strategy for skill enhancement is an investment in our employees and in the company’s future success and sustainability.Enhancing skills and providing further training and education are crucial for AO to remain competitive and adapt to ever-changing market needs. AO’s employees are central to its success, and the company invests in their professional development to enhance both individual and organisational competencies. AO encour-ages ongoing learning as an integral part of its culture and offers a wide range of educational opportunities. Skill enhancement is considered an opportunity for AO to increase our employees’ skills and knowledge. AO invests in training programmes and courses that allow employees to develop their skills, expand their competencies, and grow professionally. For example, AO offers a course in pipe-laying techniques with the possibility of advancing to a training course on the construction of sewerage systems, specialised IT courses, and continuing education such as a graduate diplomas. Unskilled warehouse workers are offered a skills assessment, enabling them to pursue a training programme in warehouse and terminal operations and thereby become skilled workers.As part of AO’s social responsibility and commitment to the future workforce, AO prioritises hiring trainees across all company functions. Through the company’s trainee programme, AO provides young people with hands-on learning, professional development, and mentorship programmes that help them build the skills and experience needed for a successful career. This initiative is part of AO’s social responsibility and an important step toward supporting the future workforce, while also creating a talent pipeline for the company. AO views it as its duty to contribute to youth employ-ment and development and work actively to foster a supportive learning culture. By participating in the training of young people, AO supports both its own business goals and society’s need for a skilled work-force, creating value for all involved.To prepare managers for their roles and promote AO’s values, managers are offered a company-tailored lead-ership programme at academy level, developed with a global and societal focus, closely following trends and values in leadership and management.Due to the company’s size, many employees advance or change roles within AO over the course of their careers - both horisontally and vertically.Development and training UoM Female Male TotalPercentage of employees that participated in regular perfor-mance and career development reviews % 18.2% 19.6% 19.2%Average number of training hours per person for employees Avg. 5.0 9.0 7.9§ Accounting policyDevelopment and training Data consists of full-time, part-time and temporary employees (students + maternity substitutes), at the end of the reporting period.Performance and career development reviewsAll employee performance and development reviews is registered, allowing tracking of the total of completed, ongoing and planned reviews.Training hoursData is combined from 2 data sources.First source: AO internal education system with mandatory and voluntary training courses. Second source: Manual tracking of external educa-tion and courses.  The total hours from both sources is used to calcu-late the average training hours.Diversity and InclusionAO recognises that diversity contributes to creating a dynamic and innovative workplace. Through the company’s ethics and compliance policies, AO actively promotes diversity with a focus on respecting human rights. AO strives to foster an inclusive environment at all levels, attracting and retaining talented employees from diverse backgrounds and cultures. The company offers equal opportunities regardless of ethnicity, race, religion, age, gender, disability, sexual orientation, political views, or social status.  In addition, AO has a policy for increasing the underrepresented gender at the company’s other management levels.AO views an inclusive environment as key to achieving long-term success and works continuously to ensure that its workplace reflects these values.Human rightsAO complies with and upholds fundamental inter-national human rights standards, including the UN Universal Declaration of Human Rights, the core prin-ciples on human rights as described in the UN Guiding Principles on Business and Human Rights, the EU Convention on Human Rights, and the basic conventions adopted by the International Labour Organization (ILO), which is an agency of the UN dealing with labour issues.AO’s policy for respect for human rights specifically addresses the right to freely associate, organise, and engage in collective bargaining. AO does not tolerate forced labour, child labour, or discrimination. All employees are required to complete a training course about discrimination, part of the full ethics and compli-ance course.   AO’s policies do not address trafficking in human beings as AO complies with national and local rights and EU legislation. AO’s policy for respect for human rights and supplier code of conduct, which are part of AO’s broader sustain-ability strategy set out by the ESG Council, apply to all employees and business partners, ensuring that respect for human rights is upheld naturally throughout the company.Discrimination, human rights etc. UoM 2024Number of incidents of discrimination No. 0Number of complaints filed through channels for people in own workforce to raise concerns No. 0Number of complaints filed to National Contact Points for OECD Multinational Enterprises No. 0Amount of fines, penalties, and compensation for damages as result of incidents of discrimina-tion, including harassment and complaints filed Amount 0Number of severe human rights issues and incidents connected to own workforce No. 0Number of severe human rights issues and incidents connected to own workforce that are cases of non respect of UN Guiding Principles and OECD Guidelines for Multinational Enter-prises No. 0Amount of fines, penalties, and compensation for severe human rights issues and incidents connected to own workforce No. 0§ Accounting policyDiscrimination, human rights etc.Data consists of full-time, part-time, temporary employees (students + maternity substitutes) and non-employees (substitutes) in storage facilities, at the end of the reporting period.Data collection is from AO's whistleblower system, formal complaints given to own manager or to HR. All formal complaints are registered regardless of channel. Incidents can only be counted if a formal complaint has been made through the whistle-blower system, through the employees' own manager or through  HR.§ Accounting policyGender distribution at top managementData consists of members of the Executive Board and the Group Management. Diversity split and number of members is disclosed at the end of the reporting period.§ Accounting policyWorkers’ representativesData consists of full-time, part-time and temporary emplyees (students + maternity substitutes), at the end of the reporting period.Gender distribution at top management UoM Female Male TotalGender distribution in number of employees (head count) at top management level Headcount 3 7 10Gender distribution in percentage of employees at top manage-ment level % 30.0% 70.0% 100%Equal treatmentAO has developed policies and set clear goals to support diversity in recruitment and career develop-ment. AO strives to ensure a diverse and supportive workplace where equal treatment and opportunities  are central to its values.§ Accounting policyFull time equivalent (FTE)The total number of hours worked divided by the standard number of hours for a full-time employee.AO is focused on creating a work environment that promotes respect, continuous professional growth,  and engagement for all employees, regardless of  background, gender, or personal circumstances. This  is key to attracting and retaining talented employees.Pay-gap UoM 2024Gender-pay gap (male vs female) % 20.4%Remuneration UoM 2024Annual total remuneration ratio Ratio 23.2Non-employees UoM 2024Number of non-employees in own workforce FTE 65Number of non-employees in own workforce - self-employed people FTE 0Number of non-employees in own workforce - people provided by undertakings primarily engaged in employ-ment activities FTE 0Age groups UoM 2024Distribution of employees (head count) under 30 years old Headcount 182Distribution of employees (head count) between 30 and 50 years old Headcount 436Distribution of employees (head count) over 50 years old Headcount 411The gender pay gap reflects historical sector factors in the industry in which AO operates, where more men histori-cally have pursued careers within the construction sector and make up the majority of the talent pool, which is evident in our leadership levels and throughout the organ-isation. Many of AO’s diversity initiatives aim to balance gender representation in leadership and throughout the organisation and achieve pay equity for equal qualifica-tions and jobs. Although AO practices equal pay for equal work, the overall figures are affected by the gender imbal-ance in the sector. Without these sector-specific impacts, our gender pay data reflects equality.§ Accounting policyPay-gapData consists of full-time, part-time, temporary employees (students + maternity substitutes), for the whole reporting period. Data used for the calculation is a "full salary package" i.e. salary, bonus, holiday pay, pension, benefits. Calculation is based on the difference of average pay levels between female and male employees, expressed as percentage of the average pay level of male employees (data includes all employees ’ gross hourly pay level).Remuneration ratioData consists of full-time, part-time, temporary employees (students + maternity substitutes), for the whole reporting period. Calculation is based on the highest paid individual to the median annual total remuneration for all employees (excluding the high-est-paid individual). Data used for the calculation is a "full salary package" i.e. salary, bonus, holiday pay, pension, benefits.Non-employeesData consists of non-employees (substitutes) in storage facilities, at the end of the reporting period.Age groupsData consists of full-time, part-time, temporary employees (students + maternity substitutes), at the end of the reporting period.Employees UoM Female Male TotalNumber of employees (head count) Headcount 285 744 1,029Number of employees (FTE) FTE 249 732 981Permanent employees UoM Female Male TotalNumber of employees (head count) Headcount 268 701 969Number of employees (FTE) FTE 232 689 921Temporary employees UoM Female Male TotalNumber of employees (head count) Headcount 17 43 60Number of employees (FTE) FTE 17 43 60Employees by country UoM Female Male TotalDenmark Headcount 274 697 971Norway Headcount 3 5 8Sweden Headcount 8 42 50*This table covers S1-6 and SBM-1§ Accounting policyTemporary employeesData consists of students and maternity substitutes, at Employeesthe end of the reporting period.Data consists of full-time, part-time and temporary employees (students + maternity substitutes), at the Employees by countriesend of the reporting period.Data consists of full-time, part-time and temporary employees (students + maternity substitutes), at the Permanent employeesend of the reporting period.Data consists of full-time and part-time employees, at the end of the reporting period.</mrv:StatementOfTheDiversityPolicies>
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                                 unitRef="pure">899</fsa:AverageNumberOfEmployees>
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   <sob:StatementByExecutiveAndSupervisoryBoards contextRef="ctx-1" id="f1__s8__7__172" xml:lang="en">The Board of Directors and the Executive Board have today considered and adopted the annual report of Brødrene A &amp; Johansen A/S for the financial year 1 January - 31 December 2024. The Consolidated Financial Statements and the Parent Company Financial Statements have been prepared in accordance with IFRS Accounting Standards as adopted by the EU and further requirements in the Danish Financial Statements Act. Management’s Review has been prepared in accordance with 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 at 31 December 2024 of the Group and the Parent Company and of the results of the Group and Parent Company operations and cash flows for 2024.In our opinion, Management’s Review includes a fair review of the development in the operations and financial circum-stances of the Group and the Parent Company, of the results for the year and of the financial position of the Group and theParent Company as well as a description of the most signifi-cant risks and elements of uncertainty, which the Group and the Parent Company are facing.Additionally, the sustainability statement, which is part of Management’s Review, has been prepared, in all material respects, in accordance with paragraph 99 a of the Danish Financial Statements Act. This includes compliance with the European Sustainability Reporting Standards (ESRS) including that the process undertaken by Management to identify the reported information (the “Process”) is in accordance with the description set out in the section titledDouble Materiality Assessment. Furthermore, disclosures within the sustainability statement are, in all material respects, in accordance with the EU Taxonomy Regulation.The year 2024 marks the initial implementation of paragrap99 a of the Danish Financial Statements Act concerning compliance with ESRS. As such, more clear guidance and practice are anticipated in various areas, which are expecteto be issued in the coming years. Furthermore, the sustainability statement includes forward-looking statements basedon disclosed assumptions about events that may occur in the future and possible future actions by the Group. Actual outcomes are likely to be different since anticipated events frequently do not occur as expected.In our opinion, the annual report for the financial year 1 January – 31 December 2024, file name 5299004B6ZEG-VCR9ZR75-2024-12-31-en.zip, is prepared, in all material respects, in compliance with the ESEF Regulation.We recommend that the Annual Report be adopted at the Annual General Meeting.</sob:StatementByExecutiveAndSupervisoryBoards>
   <sob:PlaceOfSignatureOfStatement contextRef="ctx-1" id="f1__s8__7__173" xml:lang="en">Albertslund</sob:PlaceOfSignatureOfStatement>
   <cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx-27" id="f1__s8__7__175" xml:lang="en">Niels A. Johansen</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
   <cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx-28" id="f1__s8__7__177" xml:lang="en">Per Toelstang</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
   <cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx-27" id="f1__s8__7__176" xml:lang="en">CEO</cmn:TitleOfMemberOfExecutiveBoard>
   <cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx-28" id="f1__s8__7__178" xml:lang="en">CFO/Deputy CEO</cmn:TitleOfMemberOfExecutiveBoard>
   <cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx-29" id="f1__s8__7__179" xml:lang="en">Stefan Funch Jensen</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
   <cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx-30" id="f1__s8__7__181" xml:lang="en">Lili Johansen</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
   <cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx-29" id="f1__s8__7__180" xml:lang="en">CTO</cmn:TitleOfMemberOfExecutiveBoard>
   <cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx-30" id="f1__s8__7__182" xml:lang="en">CHRO</cmn:TitleOfMemberOfExecutiveBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-31" id="f1__s8__7__183" xml:lang="en">Henning Dyremose</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-32" id="f1__s8__7__185" xml:lang="en">Erik Holm</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx-31" id="f1__s8__7__184" xml:lang="en">Chair</cmn:TitleOfMemberOfSupervisoryBoard>
   <cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx-32" id="f1__s8__7__186" xml:lang="en">Deputy Chair</cmn:TitleOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-33" id="f1__s8__7__187" xml:lang="en">René Alberg</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-34" id="f1__s8__7__188" xml:lang="en">Ann Fogelgren</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-35" id="f1__s8__7__189" xml:lang="en">Peter Gath</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-36" id="f1__s8__7__190" xml:lang="en">Leif Hummel</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-37" id="f1__s8__7__191" xml:lang="en">Marlene L. Jakobsen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx-38" id="f1__s8__7__192" xml:lang="en">Niels A. Johansen</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <arr:OpinionOnAuditedFinancialStatements contextRef="ctx-1" id="f1__s8__7__195" xml:lang="en">Our opinionIn our opinion, the Consolidated Financial Statements and the Parent Company Financial Statements give a true and fair view of the Group’s and the Parent Company’s financial position at 31 December 2024 and of the results of the Group’s and the Parent Company’s operations and cash flows for the financial year 1 January to 31 December 2024 in accordance with IFRS Accounting Standards as adopted by the EU and further requirements in the Danish Financial Statements Act.Our opinion is consistent with our Auditor’s Long-form Report to the Audit Committee and the Board of Directors.What we have auditedThe Consolidated Financial Statements and Parent Company Financial Statements of Brødrene A &amp; O Johansen A/S for the financial year 1 January to 31 December 2024 comprise income statement and statement of comprehensive income, balance sheet, statement of changes in equity, cash flow statement and notes, including material accounting policy information for the Group as well as for the Parent Company. Collectively referred to as the “Financial Statements”.</arr:OpinionOnAuditedFinancialStatements>
   <arr:DescriptionOfQualificationsOfAuditedFinancialStatements contextRef="ctx-1" id="f1__s8__7__196" xml:lang="en">Basis for opinionWe conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the Auditor’s responsibilities for the audit of 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’ International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark. We have also fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code.To the best of our knowledge and belief, prohibited non-audit services referred to in Article 5(1) of Regulation (EU) No 537/2014 were not provided.AppointmentWe were first appointed auditors of Brødrene A &amp; O Johansen A/S on 19 March 2021 for the financial year 2021. We have been reappointed annually by shareholder resolution for a total period of uninterrupted engagement of 4 years including the financial year 2024.</arr:DescriptionOfQualificationsOfAuditedFinancialStatements>
   <arr:KeyAuditMattersAudit contextRef="ctx-1" id="f1__s8__7__197" xml:lang="en">Key audit mattersKey audit matters are those matters that, in our professional judgement, were of most significance in our audit of the Financial Statements for 2024. These matters were addressed in the context of our audit of the Financial Statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.Key audit matter Recognition of revenueRevenue is measured at fair value of the consideration agreed exclusive of VAT and duties and after deduction of discounts and customer bonus.We focused on revenue recognition because revenue is the most significant financial statement line item, consists of a large number of IT-dependent transactions and is based on many individual contracts.We refer to note 2.1 of the Financial State-ments.Measurement of inventories and calculation of supplier bonus receivable I Inventories are measured at the lower of cost and net realisable value.The measurement of inventories contains significant accounting estimates related to their net realisable value and expected supplier bonus. Additionally, inventories acquired through business combinations require assessment of the fair value at the date of take-over.The calculation of supplier bonus is based on individual and complex contracts as well as estimates of the total purchases for the year made through international procure-ment cooperations.We focused on the measurement of inven-tories as inventories represent a significant line item in the Financial Statements and since technical obsolescence of inventories and changes in consumption patterns may lead to significant write-downs. Further, because the assessment of the fair value of inventories acquired through business combinations is subject to management’s estimate and uncertainty.We focused on the calculation of supplier bonus receivables as recognition is based on comprehensive contracts and significant data volumes as well as estimates of the total purchases for the year made through international procurement cooperation.We refer to notes 2.2 and 3.4 of the Finan-cial Statements.How our audit addressed the key audit matterWe carried out risk assessment procedures to gain an understanding of relevant IT systems, business procedures and controls for revenue recognition, including customer bonus. For relevant controls we assessed whether they were designed and imple-mented to effectively address the risk of material misstatement.For selected controls, which we planned to rely on in our audit, we tested whether they had been carried out on a consistent basis.We analysed revenue transactions and iden-tified transactions that did not follow the usual or expected transaction pattern. On a sample basis we tested the transactions to the underlying contractual basis.We performed analytical procedures over revenue and discussed significant fluc-tuations with management and obtained corroborating evidence of material fluctua-tions, where deemed necessary.We reviewed Management's calculation of customer bonus and on sample basis tested it to the underlying contracts as well as to subsequent and historical settlements.We carried out risk assessment procedures to gain an understanding of relevant IT systems, business procedures and controls for inventories and supplier bonuses. For relevant controls, we assessed whether they were designed and implemented to effectively address the risk of material misstatement.For selected controls, which we planned to rely on in our audit, we tested whether they had been carried out on a consistent basis.We assessed management’s estimate of the fair value of inventories acquired through business combinations, and reviewed the underlying method, assumptions and data.We compared cost prices with underlying documentation and reviewed Management's method, assumptions and data for its esti-mate of the net realisable value of the indi-vidual goods, including look back analysis of historical inventory write-downs.On a sample basis, we tested Manage-ment's calculation of supplier bonus to the underlying contractual basis, as well as management’s look back analysis of histor-ical settlements and confirmations from counterparties.In addition, we reviewed Management's assumptions and data for its estimates of the total purchases made through inter-national procurement cooperations and expected final settlements.</arr:KeyAuditMattersAudit>
   <arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements contextRef="ctx-1" id="f1__s8__7__194" xml:lang="en">To the shareholders of Brødrene A &amp; O Johansen A/S</arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements>
   <arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements contextRef="ctx-1" id="f1__s8__7__198" xml:lang="en">Statement on Management’s ReviewManagement is responsible for Management’s Review.Our opinion on the Financial Statements does not cover Management’s Review, and we do not as part of the audit express any form of assurance conclusion thereon.In connection with our audit of the Financial State-ments, our responsibility is to read Management’s Review and, in doing so, consider whether Manage-ment’s Review is materially inconsistent with the Finan-cial Statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated.Moreover, we considered whether Management’s Review includes the disclosures required by the Danish Financial Statements Act. This does not include the requirements in paragraph 99 a related to the sustain-ability statement covered by the separate auditor’s limited assurance report hereon.Based on the work we have performed, in our view, Management’s Review is in accordance with the Consol-idated Financial Statements and the Parent Company Financial Statements and has been prepared in accord-ance with the requirements of the Danish Financial Statements Act, except for the requirements in para-graph 99 a related to the sustainability statement, cf. above. We did not identify any material misstatement in Management’s Review.</arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements>
   <arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements contextRef="ctx-1" id="f1__s8__7__199" xml:lang="en">Management’s responsibilities for the Financial StatementsManagement is responsible for the preparation of consolidated financial statements and parent company financial statements that give a true and fair view in accordance with IFRS Accounting Standards as adopted by the EU and further requirements in the Danish Financial Statements Act, and for such internal control as Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.In preparing the Financial Statements, Manage-ment is responsible for assessing the Group’s and the Parent Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless Management either intends to liquidate the Group or the Parent Company or to cease operations, or has no realistic alternative but to do so.</arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements>
   <arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed contextRef="ctx-1" id="f1__s8__7__200" xml:lang="en">Auditor’s responsibilities for the audit of the Financial StatementsOur objectives are to obtain reasonable assurance about whether the Financial Statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstate-ments can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Financial Statements.As part of an audit in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgement and maintain profes-sional scepticism throughout the audit. We also: · Identify and assess the risks of material misstate-ment 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 collu-sion, forgery, intentional omissions, misrepresenta-tions, or the override of internal control. · Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effec-tiveness of the Group’s and the Parent Company’s internal control. · Evaluate the appropriateness of accounting policies used and the reasonableness of accounting esti-mates and related disclosures made by Management. · Conclude on the appropriateness of Management’s use of the going concern basis of accounting and based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group’s and the Parent Company’s ability to continue as a going concern. If we conclude that a material uncertainty 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 or the Parent Company to cease to continue as a going concern. · Evaluate the overall presentation, structure and content of the Financial Statements, including the disclosures, and whether the Financial Statements represent the underlying transactions and events in a manner that gives a true and fair view. · Plan and perform the group audit to obtain sufficient appropriate audit evidence regarding the financial information of the entities or business units within the group as a basis for forming an opinion on the Consolidated Financial Statements and the Parent Company Financial Statements. We are responsible for the direction, supervision and review of the audit work performed for purposes of the group audit. We remain solely responsible for our audit opinion.We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence and, where applicable, 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 Financial State-ments of the current period and are therefore the key audit matters. We describe these matters in our audi-tor’s report unless law or regulation precludes public disclosure about the matter.</arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed>
   <arr:AuditorsReportOnXbrlTagging contextRef="ctx-1" id="f1__s8__7__201" xml:lang="en">Report on compliance with the ESEF RegulationAs part of our audit of the Financial Statements we performed procedures to express an opinion on whether the annual report of Brødrene A &amp; O Johansen A/S for the financial year 1 January to 31 December 2024 with the filename 5299004B6ZEGVCR9ZR75-2024-12-31-en.zip is prepared, in all material respects, in compli-ance with the Commission 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 State-ments 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 judgement 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 respects, 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 procedures selected depend on the auditor’s judge-ment, including the assessment of the risks of material departures from the requirements set out in the ESEF Regulation, whether due to fraud or error. The proce-dures 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 Consolidated Financial Statements.In our opinion, the annual report of Brødrene A &amp; O Johansen A/S for the financial year 1 January to 31 December 2024 with the file name 5299004B6ZEG-VCR9ZR75-2024-12-31-en.zip is prepared, in all material respects, in compliance with the ESEF Regulation.</arr:AuditorsReportOnXbrlTagging>
   <arr:SignatureOfAuditorsPlace contextRef="ctx-1" id="f1__s8__7__202" xml:lang="en">Hellerup</arr:SignatureOfAuditorsPlace>
   <cmn:NameOfAuditFirm contextRef="ctx-40" id="f1__s8__7__206" xml:lang="en">PricewaterhouseCoopers,Statsautoriseret Revisionspartnerselskab,</cmn:NameOfAuditFirm>
   <cmn:NameOfAuditFirm contextRef="ctx-39" id="f1__s8__7__204" xml:lang="en">PricewaterhouseCoopers,Statsautoriseret Revisionspartnerselskab,</cmn:NameOfAuditFirm>
   <cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx-39" id="f1__s8__7__205">33771231</cmn:IdentificationNumberCvrOfAuditFirm>
   <cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx-40" id="f1__s8__7__207">33771231</cmn:IdentificationNumberCvrOfAuditFirm>
   <cmn:NameAndSurnameOfAuditor contextRef="ctx-39" id="f1__s8__7__208" xml:lang="en">Anders Stig Lauritsen</cmn:NameAndSurnameOfAuditor>
   <cmn:NameAndSurnameOfAuditor contextRef="ctx-40" id="f1__s8__7__211" xml:lang="en">Daniel Sitch</cmn:NameAndSurnameOfAuditor>
   <cmn:DescriptionOfAuditor contextRef="ctx-39" id="f1__s8__7__209" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
   <cmn:DescriptionOfAuditor contextRef="ctx-40" id="f1__s8__7__212" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
   <cmn:IdentificationNumberOfAuditor contextRef="ctx-39" id="f1__s8__7__210">mne32800</cmn:IdentificationNumberOfAuditor>
   <cmn:IdentificationNumberOfAuditor contextRef="ctx-40" id="f1__s8__7__213">mne47889</cmn:IdentificationNumberOfAuditor>
   <arr:AuditorsReportOnSubstainabilityReport contextRef="ctx-1" id="f1__s8__7__215" xml:lang="en">Independent auditor’s limited assurance report on the Sustainability Statement To the stakeholders of Brødrene A &amp; O Johansen A/SLimited assurance conclusionWe have conducted a limited assurance engagement on the sustainability statement of Brødrene A &amp; O Johansen A/S (the “Group”) included in the Management’s review  (the “Sustainability Statement”), page 40 – 115, for the financial year 1 January – 31 December 2024.Based on the procedures we have performed and the evidence we have obtained, nothing has come to our attention that causes us to believe that the Sustainability Statement is not prepared, in all mate-rial respects, in accordance with the Danish Financial Statements Act paragraph 99 a, including:  · compliance with the European Sustainability Reporting Standards (ESRS), including that the process carried out by the management to iden-tify the information reported in the Sustainability Statement (the “Process”) is in accordance with the description set out in the section titled ‘Double Mate-riality Assessment’; and · compliance of the disclosures in the section titled ‘EU Taxonomy’ of the Sustainability Statement with Article 8 of EU Regulation 2020/852 (the “Taxonomy Regulation”).Basis for conclusion We conducted our limited assurance engagement in accordance with International Standard on Assur-ance Engagements (ISAE) 3000 (Revised), Assurance engagements other than audits or reviews of historical financial information (“ISAE 3000 (Revised)”) and the additional requirements applicable in Denmark. The procedures in a limited assurance engagement vary in nature and timing from, and are less in extent than for, a reasonable assurance engagement. Consequently, the level of assurance obtained in a limited assurance engagement is substantially lower than the assurance that would have been obtained had a reasonable assur-ance engagement been performed.We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our conclusion. Our responsibilities under this standard are further described in the Auditor’s responsibilities for the assurance engagement section of our report. Our independence and quality managementWe are independent of the Group in accordance with the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Account-ants (IESBA Code) and the additional ethical require-ments applicable in Denmark. We have also fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code.Our firm applies International Standard on Quality Management 1, which requires the firm to design, implement and operate a system of quality management including policies or procedures regarding compliance with ethical requirements, professional standards and applicable legal and regulatory requirements.Management’s responsibilities for the Sustainability StatementManagement is responsible for designing and imple-menting a process to identify the information reported in the Sustainability Statement in accordance with the ESRS and for disclosing this Process as included in the section titled ‘Double Materiality Assessment’ of the Sustainability Statement. This responsibility includes: · understanding the context in which the Group’s’ activities and business relationships take place and developing an understanding of its affected stake-holders; · the identification of the actual and potential impacts (both negative and positive) related to sustainability matters, as well as risks and opportunities that affect, or could reasonably be expected to affect, the Group’s’ financial position, financial performance, cash flows, access to finance or cost of capital over the short-, medium-, or long-term; · the assessment of the materiality of the identified impacts, risks and opportunities related to sustaina-bility matters by selecting and applying appropriate thresholds; and · making assumptions that are reasonable in the circumstances.Management is further responsible for the preparation of the Sustainability Statement, which includes the information identified by the Process, in accordance with the Danish Financial Statements Act paragraph 99a, including:  · compliance with the ESRS; · preparing the disclosures in the section titled ‘EU taxonomy’ within the Sustainability Statement, in compliance with Article 8 of the Taxonomy Regulation; · designing, implementing and maintaining such internal control that management determines is necessary to enable the preparation of the Sustain-ability Statement that is free from material misstate-ment, whether due to fraud or error; and · the selection and application of appropriate sustaina-bility reporting methods and making assumptions and estimates that are reasonable in the circumstances. Inherent limitations in preparing the Sustainability StatementIn reporting forward-looking information in accordance with ESRS, management is required to prepare the forward-looking information on the basis of disclosed assumptions about events that may occur in the future and possible future actions by the Group. Actual outcomes are likely to be different since anticipated events frequently do not occur as expected.Auditor’s responsibilities for the assurance engagementOur responsibility is to plan and perform the assur-ance engagement to obtain limited assurance about whether the Sustainability Statement is free from material misstatement, whether due to fraud or error, and to issue a limited assurance report that includes our conclusion. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence decisions of users taken on the basis of the Sustainability Statement as a whole. As part of a limited assurance engagement in accord-ance with ISAE 3000 (Revised) we exercise professional judgement and maintain professional scepticism throughout the engagement. Our responsibilities in respect of the Process include: · Obtaining an understanding of the Process, but not for the purpose of providing a conclusion on the effectiveness of the Process, including the outcome of the Process;  · Considering whether the information identified addresses the applicable disclosure requirements of the ESRS; and  · Designing and performing procedures to evaluate whether the Process is consistent with the Group’s description of its Process, as disclosed in the section titled 'Double materiality assessment'. Our other responsibilities in respect of the Sustaina-bility Statement include:  · Identifying where material misstatements are likely to arise, whether due to fraud or error; and  · Designing and performing procedures responsive to disclosures in the Sustainability Statement where material misstatements are likely to arise. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.Summary of the work performedA limited assurance engagement involves performing procedures to obtain evidence about the Sustainability Statement. The nature, timing and extent of procedures selected depend on professional judgement, including the identification of disclosures where material misstatements are likely to arise, whether due to fraud or error, in the Sustainability Statement.In conducting our limited assurance engagement, with respect to the Process, we:  · Obtained an understanding of the Process by performing inquiries to understand the sources of the information used by management; and reviewing the Group’s internal documentation of its Process; and · Evaluated whether the evidence obtained from our procedures about the Process implemented by the Group was consistent with the description of the Process set out in the section titled 'Double materi-ality assessment'.In conducting our limited assurance engagement, with respect to the Sustainability Statement, we: · Obtained an understanding of the Group’s reporting processes relevant to the preparation of its Sustain-ability Statement including the consolidation processes by obtaining an understanding of the Group’s control environment, processes and infor-mation systems relevant to the preparation of the Sustainability Statement but not evaluating the design of particular control activities, obtaining evidence about their implementation or testing their operating effectiveness;  · Evaluated whether the information identified by the Process is included in the Sustainability Statement; · Evaluated whether the structure and the presentation of the Sustainability Statement are in accordance with the ESRS; · Performed inquiries of relevant personnel and analytical procedures on selected information in the Sustainability Statement; · Performed substantive assurance procedures on selected information in the Sustainability Statement; · Where applicable, compared disclosures in the Sustainability Statement with the corresponding disclosures in the financial statements and manage-ment’s review; · Evaluated the methods, assumptions and data for developing estimates and forward-looking informa-tion; and · Obtained an understanding of the Group’s process to identify taxonomy-eligible and taxonomy-aligned economic activities and the corresponding disclo-sures in the Sustainability Statement.</arr:AuditorsReportOnSubstainabilityReport>
   <arr:AddresseeOfAuditorsReportOnSubstainabilityReports contextRef="ctx-1" id="f1__s8__7__216" xml:lang="en">To the stakeholders of Brødrene A &amp; O Johansen A/S</arr:AddresseeOfAuditorsReportOnSubstainabilityReports>
   <arr:IdentificationOfMattersOnWhichAssuranceReportIsProvidedAndDescriptionOfAssuranceEngagementSubstainabilityReport contextRef="ctx-1" id="f1__s8__7__217" xml:lang="en">Limited assurance conclusionWe have conducted a limited assurance engagement on the sustainability statement of Brødrene A &amp; O Johansen A/S (the “Group”) included in the Management’s review  (the “Sustainability Statement”), page 40 – 115, for the financial year 1 January – 31 December 2024.</arr:IdentificationOfMattersOnWhichAssuranceReportIsProvidedAndDescriptionOfAssuranceEngagementSubstainabilityReport>
   <arr:OpinionOnSubjectMatterOfAssuranceReportSubstainabilityReport contextRef="ctx-1" id="f1__s8__7__218" xml:lang="en">Based on the procedures we have performed and the evidence we have obtained, nothing has come to our attention that causes us to believe that the Sustainability Statement is not prepared, in all mate-rial respects, in accordance with the Danish Financial Statements Act paragraph 99 a, including:  · compliance with the European Sustainability Reporting Standards (ESRS), including that the process carried out by the management to iden-tify the information reported in the Sustainability Statement (the “Process”) is in accordance with the description set out in the section titled ‘Double Mate-riality Assessment’; and · compliance of the disclosures in the section titled ‘EU Taxonomy’ of the Sustainability Statement with Article 8 of EU Regulation 2020/852 (the “Taxonomy Regulation”).</arr:OpinionOnSubjectMatterOfAssuranceReportSubstainabilityReport>
   <arr:StatementOfAuditorsResponsibilitySubstainabilityReport contextRef="ctx-1" id="f1__s8__7__219" xml:lang="en">Auditor’s responsibilities for the assurance engagementOur responsibility is to plan and perform the assur-ance engagement to obtain limited assurance about whether the Sustainability Statement is free from material misstatement, whether due to fraud or error, and to issue a limited assurance report that includes our conclusion. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence decisions of users taken on the basis of the Sustainability Statement as a whole. As part of a limited assurance engagement in accord-ance with ISAE 3000 (Revised) we exercise professional judgement and maintain professional scepticism throughout the engagement. Our responsibilities in respect of the Process include: · Obtaining an understanding of the Process, but not for the purpose of providing a conclusion on the effectiveness of the Process, including the outcome of the Process;  · Considering whether the information identified addresses the applicable disclosure requirements of the ESRS; and  · Designing and performing procedures to evaluate whether the Process is consistent with the Group’s description of its Process, as disclosed in the section titled 'Double materiality assessment'. Our other responsibilities in respect of the Sustaina-bility Statement include:  · Identifying where material misstatements are likely to arise, whether due to fraud or error; and  · Designing and performing procedures responsive to disclosures in the Sustainability Statement where material misstatements are likely to arise. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.</arr:StatementOfAuditorsResponsibilitySubstainabilityReport>
   <arr:DescriptionOfQualificationsOfAssuranceEngagementPerformedSubstainabilityReport contextRef="ctx-1" id="f1__s8__7__220" xml:lang="en">Summary of the work performedA limited assurance engagement involves performing procedures to obtain evidence about the Sustainability Statement. The nature, timing and extent of procedures selected depend on professional judgement, including the identification of disclosures where material misstatements are likely to arise, whether due to fraud or error, in the Sustainability Statement.In conducting our limited assurance engagement, with respect to the Process, we:  · Obtained an understanding of the Process by performing inquiries to understand the sources of the information used by management; and reviewing the Group’s internal documentation of its Process; and · Evaluated whether the evidence obtained from our procedures about the Process implemented by the Group was consistent with the description of the Process set out in the section titled 'Double materi-ality assessment'.In conducting our limited assurance engagement, with respect to the Sustainability Statement, we: · Obtained an understanding of the Group’s reporting processes relevant to the preparation of its Sustain-ability Statement including the consolidation processes by obtaining an understanding of the Group’s control environment, processes and infor-mation systems relevant to the preparation of the Sustainability Statement but not evaluating the design of particular control activities, obtaining evidence about their implementation or testing their operating effectiveness;  · Evaluated whether the information identified by the Process is included in the Sustainability Statement; · Evaluated whether the structure and the presentation of the Sustainability Statement are in accordance with the ESRS; · Performed inquiries of relevant personnel and analytical procedures on selected information in the Sustainability Statement; · Performed substantive assurance procedures on selected information in the Sustainability Statement; · Where applicable, compared disclosures in the Sustainability Statement with the corresponding disclosures in the financial statements and manage-ment’s review; · Evaluated the methods, assumptions and data for developing estimates and forward-looking informa-tion; and · Obtained an understanding of the Group’s process to identify taxonomy-eligible and taxonomy-aligned economic activities and the corresponding disclo-sures in the Sustainability Statement.</arr:DescriptionOfQualificationsOfAssuranceEngagementPerformedSubstainabilityReport>
   <arr:SignatureOfSubstainabilityAuditorsPlace contextRef="ctx-1" id="f1__s8__7__221" xml:lang="en">Hellerup</arr:SignatureOfSubstainabilityAuditorsPlace>
   <cmn:NameOfAuditFirmSubstainability contextRef="ctx-42" id="f1__s8__7__224" xml:lang="en">PricewaterhouseCoopersStatsautoriseret Revisionspartnerselskab</cmn:NameOfAuditFirmSubstainability>
   <cmn:NameOfAuditFirmSubstainability contextRef="ctx-41" id="f1__s8__7__223" xml:lang="en">PricewaterhouseCoopersStatsautoriseret Revisionspartnerselskab</cmn:NameOfAuditFirmSubstainability>
   <cmn:IdentificationNumberCvrOfAuditFirmSubstainability contextRef="ctx-41" id="f1__s8__7__225">33771231</cmn:IdentificationNumberCvrOfAuditFirmSubstainability>
   <cmn:IdentificationNumberCvrOfAuditFirmSubstainability contextRef="ctx-42" id="f1__s8__7__226">33771231</cmn:IdentificationNumberCvrOfAuditFirmSubstainability>
   <cmn:NameAndSurnameOfSubstainabilityAuditor contextRef="ctx-41" id="f1__s8__7__227" xml:lang="en">Anders Stig Lauritsen</cmn:NameAndSurnameOfSubstainabilityAuditor>
   <cmn:NameAndSurnameOfSubstainabilityAuditor contextRef="ctx-42" id="f1__s8__7__230" xml:lang="en">Daniel Sitch</cmn:NameAndSurnameOfSubstainabilityAuditor>
   <cmn:DescriptionOfSubstainabilityAuditor contextRef="ctx-41" id="f1__s8__7__228" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfSubstainabilityAuditor>
   <cmn:DescriptionOfSubstainabilityAuditor contextRef="ctx-42" id="f1__s8__7__231" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfSubstainabilityAuditor>
   <cmn:fIdentificationNumberOfSubstainabilityAuditor contextRef="ctx-41" id="f1__s8__7__229">mne32800</cmn:fIdentificationNumberOfSubstainabilityAuditor>
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   <gsd:NameOfSubmittingEnterprise contextRef="ctx-1" id="f1__s8__7__244" xml:lang="en">Brødrene A. &amp; O. Johansen A/S</gsd:NameOfSubmittingEnterprise>
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   <gsd:AddressOfSubmittingEnterprisePostcodeAndTown contextRef="ctx-1" id="f1__s8__7__256" xml:lang="en">2620 Albertslund</gsd:AddressOfSubmittingEnterprisePostcodeAndTown>
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   <gsd:AddressOfReportingEntityDistrictName contextRef="ctx-1" id="f1__s8__7__249" xml:lang="en"> Albertslund</gsd:AddressOfReportingEntityDistrictName>
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   <gsd:HomepageOfReportingEntity contextRef="ctx-1" id="f1__s8__7__252">www.ao.dk</gsd:HomepageOfReportingEntity>
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   <gsd:InformationOnTypeOfSubmittedReport contextRef="ctx-1" id="f1__s1__72__15">Annual report</gsd:InformationOnTypeOfSubmittedReport>
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   <gsd:PrecedingReportingPeriodStartDate contextRef="ctx-1" id="f1__s1__72__22">2023-01-01</gsd:PrecedingReportingPeriodStartDate>
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   <fsa:ClassOfReportingEntity contextRef="ctx-1" id="f1__s1__72__43">Regnskabsklasse D</fsa:ClassOfReportingEntity>
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   <sob:DateOfApprovalOfAnnualReport contextRef="ctx-1" id="f1__s8__7__174">2025-02-27</sob:DateOfApprovalOfAnnualReport>
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