Gabriel_Annual_Report_2024-25 - Flipbook - Page 92
CONTENTS // CONSOLIDATED FINANCIAL STATEMENTS AND PARENT COMPANY FINANCIAL STATEMENTS // NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AND PARENT COMPANY FINANCIAL STATEMENTS
14
Investments in joint ventures
15
Inventories
CONSOLIDATED
tDKK
Cost at 01.10
Cost at 30.09
2024/25
13,811
13,811
2023/24
13,811
13,811
Adjustments at 01.10
Share of profit for the year
Adjustment, beginning of period
Dividends distributed
Intra-group profit
Value adjustment, property
Adjustments for the year
Adjustments at 30.09
19,067
2,855
18
-467
14
-71
2,349
21,416
18,483
934
12
-306
15
-71
584
19,067
Carrying amount at 30.09
35,227
32,878
CONSOLIDATED
tDKK
Raw materials and consumables
Work in progress
Finished goods and goods for resale
Financial information for UAB Scandye in accordance with the Group's accounting policies:
Net revenue
Depreciation
Finance costs
Tax on profit for the year
Profit/comprehensive income for the year
50,101
-5,201
-152
5,790
49,640
-5,101
-305
1,894
Non-current assets
Current assets
Cash and cash equivalents
Non-current liabilities
Non-current liabilities excluding trade and other payables
Current liabilities
Current liabilities excluding trade and other payables
Equity
38,982
30,837
16,602
405
405
6,797
1,288
61,874
43,377
23,896
4,803
1,692
1,692
7,797
1,781
56,961
Reconciliation of carrying amount at 30 September:
The Group's share of equity
Value adjustment, property
Intra-group loss
Goodwill
Carrying amount at 30.09
30,496
420
-488
4,799
35,227
28,091
490
-502
4,799
32,878
Management has impairment-tested the carrying amount of goodwill. The test was based on the budget for 2025/26 and projection
for the years 2026/27 to 2030/31 using projected cash flows and a discount rate before tax of 11.7%. The test has not resulted in any
impairment, and the margin is considerable. Probable changes in key assumptions are therefore judged not to result in impairment.
2023/24
49,396
13,801
53,247
116,444
PARENT COMPANY
2024/25
-
2023/24
-
Inventories with a value of tDKK 3.525 (2023/24: tDKK 4.853) have been written down by tDKK 2.035 (2023/24: tDKK 2.551) to expected
net realisable value.
As part of usual Group operations, the Group has entered into purchase agreements for future raw material supplies amounting to
tDKK 16.628 (30 September 2024: tDKK 17.847) to ensure raw material supplies in 2025/26.
16
The Group holds 49.3% (2022/23: 49.3%) of the voting rights in UAB Scandye, Lithuania. UAB Scandye is co-owned with two other
shareholders. The shareholders' agreement provides that all material decisions concerning the company's activities must be
unanimous, which means that all shareholders have a joint controlling interest. Given that all shareholders of UAB Scandye are
entitled to a proportionate share of the company's net assets, the investment is accounted for as a joint venture.
2024/25
40,386
10,712
56,402
107,500
Receivables
CONSOLIDATED
tDKK
Trade receivables
Current portion of amounts owed by subsidiaries
Other receivables
2024/25
54,568
16,672
71,240
2023/24
57,161
20,980
78,141
PARENT COMPANY
2024/25
10,619
10,619
2023/24
9,444
9,444
On the basis of the Group’s internal credit rating procedures and external credit ratings, the creditworthiness of receivables not written
down is assessed to be high and to pose a low risk of loss. See also note 23 for information on credit risks.
The Group’s trade receivables are distributed as follows by geographical area:
Denmark
3,133
Europe
36,929
USA
7,952
Asia
2,895
Other countries
3,659
54,568
4,222
37,192
9,529
3,529
2,689
57,161
The Group’s trade receivables at 30 September 2025 include receivables with a gross value totalling tDKK 2.151, written down by tDKK
1.276. Receivables included in 2023/24 were tDKK 3.454, written down by tDKK 2.376. Bad debts were due to customer insolvency or
anticipated payment default.
Provisions for write-downs on trade receivables and loss rates are specified as follows:
2024/25
Not overdue
Up to 30 days
Between 30 and 60 days
Over 60 days
Loss rate
0.0%
6.3%
21.9%
41.2%
2.3%
Trade receivables
48,110
5,051
753
1,930
55,844
Write-down
316
165
795
1,276
Total
48,110
4,735
588
1,135
54,568
Interest income arising from receivables written down is not recognised.
Write-downs of the Group’s trade receivables concern Europe.
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