Gabriel_Annual_Report_2024-25 - Flipbook - Page 91
CONTENTS // CONSOLIDATED FINANCIAL STATEMENTS AND PARENT COMPANY FINANCIAL STATEMENTS // NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AND PARENT COMPANY FINANCIAL STATEMENTS
13
Key assumptions and sensitivities are summarised as follows for cash-generating units:
Investments in subsidiaries
PARENT COMPANY
tDKK
Cost at 01.10
Capital contribution, subsidiaries
Cost at 30.09
2024/25
142,484
142,484
2023/24
142,484
142,484
Impairment write-down 01.10
Impairment write-down for the year
Impairment write-down 30.09
Carrying amount at 30.09
7,000
7,000
135,484
7,000
7,000
135,484
PARENT
Gabriel North America (USA)
Discount rate
(after tax)
11.3%
Discount rate
(before tax)
11.9%
2024/25
Av. annual
revenue growth
until terminal
period
16%
Av. EBIT rate
until terminal
period
14%
Sensitivity
revenue/EBIT
(minimum
index)*
93
* Sensitivity computed for revenue shows the minimum share of projected revenue that must be realised to avoid impairment charges.
PARENT
2023/24
Name and registered office
2024/25
Gabriel A/S, Aalborg
Gabriel Ejendomme A/S, Aalborg
Gabriel (Tianjin), China*
Gabriel North America Inc., USA*
Stake
100%
100%
100%
100%
Share capital
tDKK
25,600
1,000
1,477
7
2023/24
Gabriel A/S, Aalborg
Gabriel Ejendomme A/S, Aalborg
Gabriel (Tianjin), China*
Gabriel North America Inc., USA*
100%
100%
100%
100%
tDKK
25,600
1,000
1,570
7
Equity tDKK
156,812
26,680
23,077
-25,987
180,582
Profit/loss for
the year tDKK
20,450
1,002
6,007
-35,130
-7,671
Carrying
amount tDKK
36,645
30,932
1,211
66,696
135,484
tDKK
146,356
25,678
24,055
9,765
205,854
tDKK
-83,931
428
2,021
-9,040
-90,522
tDKK
36,645
30,932
1,211
66,696
135,484
Gabriel North America (USA)
Discount rate
(after tax)
11.3%
Discount rate
(before tax)
11.9%
Av. annual
revenue growth
until terminal
period
21%
Av. EBIT rate
until terminal
period
16%
Sensitivity
revenue/EBIT
(minimum
index)*
91
* Sensitivity computed for revenue shows the minimum share of projected revenue that must be realised to avoid impairment charges.
The amount owed by Gabriel North America Inc. is supported by the above impairment test.
Amounts owed by subsidiaries are tDKK 40.783 (tDKK 40.688 in 2023/24), and there are no indications of impairment.
* No local audit obligation
Gabriel Ejendomme’s equity is lower than carrying amount. Gabriel Ejendomme’s activity is to own and operate the property which
houses Gabriel Group’s head office. Management judges on this basis that there is no indication of impairment.
The reason for the loss realised in Gabriel North America Inc. in 2024/25 is that the company made a write-down of shares in the partowned subsidiary Grupo RYL, S.A. de C.V. Projected growth rates were realised in the year under review based on investments made in
previous financial years, which increased the profitability of Gabriel North America Inc. Based on the increased profitability, cash flows
and the expectations for future earnings, management judges that there is no indication of impairment.
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