Salg & Service
Annual report 2022
Adopted at the Annual General Meeting on 26 June 2023
Jeppe Skov Andersen
Chairman of the meeting
Ørsted Salg & Service A/S, CVR No. 27210538 For the period 1/1 2022 to 31/12 2022 Ørsted Salg & Service A/S, Skærbæk Kraftsværksvej 53, 7000 Fredericia
Overview
Contents
Overview
Company information � � � � � � � � � � � � � � � � � � � � � � � � � � 4 Performance highlights� � � � � � � � � � � � � � � � � � � � � � � � � � 5 Statement by the Executive Board and the
Board of Directors � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 6 Independent auditor's report � � � � � � � � � � � � � � � � � � � � � 7 Management's review � � � � � � � � � � � � � � � � � � � � � � � � � � 9
Financial statements
Statement of comprehensive income � � � � � � � � � � � � � � � 14 Balance sheet � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 15 Statement of shareholder's equity � � � � � � � � � � � � � � � � � 16 Statement of cash flows � � � � � � � � � � � � � � � � � � � � � � � � 17
Notes
Index of notes
1 | Basis of reporting � � � � � � � � � � � � � � � � � � � � � � � � � | 19 | 17 | Deferred tax � � � � � � � � � � � � � � � � � � � � � � � � � � � � | 32 |
2 | Revenue � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � | 21 | 18 | Derivatives � � � � � � � � � � � � � � � � � � � � � � � � � � � � � | 34 |
3 | Cost of sales � � � � � � � � � � � � � � � � � � � � � � � � � � � � | 22 | 19 | Maturity analysis of financial liabilities � � � � � � � � � � | 39 |
4 | Other external expenses � � � � � � � � � � � � � � � � � � � � | 22 | 20 | Trade receivables � � � � � � � � � � � � � � � � � � � � � � � � � | 40 |
5 | Employee costs � � � � � � � � � � � � � � � � � � � � � � � � � � | 23 | 21 | Other receivables and other payables � � � � � � � � � � � | 41 |
6 | Share-based payment � � � � � � � � � � � � � � � � � � � � � � | 23 | 22 | Income tax receivable, and payable � � � � � � � � � � � � | 42 |
7 | Other operating expenses � � � � � � � � � � � � � � � � � � � | 24 | 23 | Cash, cash equivalents, and securities � � � � � � � � � � � | 42 |
8 | Auditor's fees � � � � � � � � � � � � � � � � � � � � � � � � � � � � | 24 | 24 | Equity � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � | 43 |
9 | Financial income � � � � � � � � � � � � � � � � � � � � � � � � � � | 24 | 25 | Provisions � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � | 44 |
10 | Financial expenses � � � � � � � � � � � � � � � � � � � � � � � � | 24 | 26 | Contract liabilities� � � � � � � � � � � � � � � � � � � � � � � � � | 45 |
11 | Tax on profit (loss) for the year � � � � � � � � � � � � � � � � | 25 | 27 | Change in working capital � � � � � � � � � � � � � � � � � � � | 45 |
12 | Discontinued operations � � � � � � � � � � � � � � � � � � � � | 26 | 28 | Financial risks and risk management � � � � � � � � � � � � | 46 |
13 | Intangible assets � � � � � � � � � � � � � � � � � � � � � � � � � | 27 | 29 | Contingent liabilities and other liabilities � � � � � � � � � | 49 |
14 | Property, plant, and equipment � � � � � � � � � � � � � � � | 29 | 30 | Related-party transactions � � � � � � � � � � � � � � � � � � | 50 |
15 | Investments in subsidiaries � � � � � � � � � � � � � � � � � � � | 31 | 31 | Calculation of financial ratios � � � � � � � � � � � � � � � � � | 51 |
16 | Inventories � � � � � � � � � � � � � � � � � � � � � � � � � � � � � | 32 |
2 Ørsted Salg & Service Annual report 2022
Overview
- Company information
- Performance highlights
- Statement by the Executive Board and the Board of Directors
- Independent auditor's report
9 Management's review
3 Ørsted Salg & Service Annual report 2022
Overview | Company information |
Company information
Company | Ørsted Salg & Service A/S |
Kraftværksvej 53 | |
Skærbæk | |
7000 Fredericia | |
Denmark | |
Telephone: +45 99 55 11 11 | |
Email: orsted@orsted.dk | |
Company registration number: 27210538 | |
Shareholder | The entire share capital is held by Ørsted A/S |
Board of Directors | Daniel Lerup (Chairman) |
Anja Forup (Deputy Chairman) | |
Heidi Lohse | |
Executive Board | Rune Sonne Bundgaard-Jørgensen |
Auditor | PricewaterhouseCoopers, Statsautoriseret Revisionspartnerselskab |
Consolidated financial | The company is reflected in the group report as the parent company |
statements | Ørsted A/S, Fredericia, CVR no. 36 21 37 28 |
The group report of Ørsted A/S, Fredericia, CVR no. 36 21 37 28 can be | |
obtained at the following address: | |
www.orsted.com/en/investors/ir-material/financial-reports-and-presentations | |
Annual general meeting | 26 June 2023 |
4 Ørsted Salg & Service Annual report 2022
Overview | Performance highlights |
Performance highlights
DKKm | 2022 | 2021 | 2020 | 2019 | 2018 |
Statement of comprehensive income | |||||
Revenue | 93,611 | 45,785 | 20,519 | 31,201 | 38,840 |
Operating profit (loss) before depreciation and amortisation (EBITDA) | 516 | 79 | (169) | 2,004 | 527 |
Operating profit (loss) (EBIT) | 419 | (893) | (280) | 1,618 | 446 |
Net financial income and expenses | (326) | 146 | (152) | (81) | (96) |
Profit (loss) before tax | 96 | (748) | (432) | 1,536 | 342 |
Profit (loss) for the year | 67 | (267) | (638) | 694 | (134) |
Balance sheet | |||||
Equity | 19,212 | 5,903 | 9,348 | 10,067 | 9,380 |
Assets | 88,296 | 69,215 | 21,007 | 26,345 | 27,953 |
Cash flows | |||||
Operating activities | (7,067) | (10,682) | 2,324 | (359) | 1,643 |
Investments in property, plant, and equipment | - | - | - | (9) | (5) |
Other investing activities | (1) | (45) | (3) | - | (396) |
Financing activities | 8,120 | 11,474 | (79) | (78) | - |
Financial ratios | |||||
EBITDA margin | 1 % | 0 % | (1 %) | 6 % | 1 % |
EBIT margin (profit margin) | 0 % | (2 %) | (1 %) | 5 % | 1 % |
Net interest-bearing debt | (4,513) | 3,428 | (7,955) | (7,546) | (8,611) |
Capital employed | (14,537) | 9,455 | 2,137 | 3,623 | 821 |
Average number of employees | 269 | 256 | 267 | 295 | 109 |
Financial ratios have been calculated in accordance with 'Recommendations & Ratios' published by the Danish Society of Financial Analysts. For definitions, see the accounting policies section.
5 Ørsted Salg & Service Annual report 2022
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Ørsted A/S published this content on 21 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 July 2023 12:24:08 UTC.