DAT A/S

The Company’s activities consist of operating fixed wing aircraft and related activities using leased aircraft.

The income statement of the Company shows a profit of TDKK 1,615 and as of 31 December 2025 the balance sheet of the Company shows a positive equity of TDKK 49,755.

This Management review is presented from its DAT Holding AS group level.The ATR fleet was primarily assigned to scheduled services throughout the year with seasonal patterns similar to those in previous years. Overall, scheduled activity increased from the previous year with 5.41%. Frequency optimisation continued in Denmark from the year prior resulting in reduction of overall domestic operations in Denmark from the year before. In Norway, new Public Service Offering (“PSO“) contractual routes took over in April from previous ones leading to an increase in overall year-over-year Norwegian flights, and in Italy, two new PSO rou…

It is anticipated for the year 2026 to yield a profit before tax of approximately DKK 45 mill at the group level. The continued geopolitical situation in Europe, the war in Ukraine, and the war in Iran, can have unforeseen implications. Smooth, reliable, and on-time operations are all key ingredients to meet the profit target. Careful and controlled planning of resources is required to prevent unnecessary and avoidable cost being incurred. Outside factors can furthermore have damaging effects, both in respect of additional expenses as well as substandard service levels. Cost discipline and sharp focus must be attained. Nevertheless, it is Management’s view that its expectations are achievable.

External environmentThe Group's primary environmental influence is through CO2-emissions from air…

One of the primary expectations ahead of the year 2025 was that the revenue at the group level would drop by 6% from the year before. The actual revenue in 2025 did however drop less than anticipated, by approximately 3%. The first quarter generated more hours than initially expected, which resulted in revenue exceeding cumulative anticipated revenues from the beginning of the year and throughout. This revenue excess to expectations exceeded the revenue shortage in the second quarter. Although the first three months of the year were loss making (as in previous years), the net loss result by end of the first quarter was much better than had been anticipated. This was one of the prime reasons for the full year results exceeding expectations. Profit a tax in 2025 was TDKK 95,153 at the grou…

Foreign exchange risks

A large portion of the Group's income, expenses, and external financing is settled in foreign currencies which expose profits to currency fluctuations. It is Group policy not to partake in speculative currency positions.

The assessments of indications of impairment per 31 December 2025 is based on the future cash flows expected by management per 31 December 2025, which due to external uncontrollable impacts, such as the war in Ukraine and the war in Iran, may differ from the expectations for future cash flows that management has at the time of approval of the Annual Report. Hence, after the balance sheet date there is uncertainty in recognizing and measuring the Group’s investments in airplanes and associated spare parts.

No events materially affecting the assessment of the Annual Report have occurred after the balance sheet date.

Rental and lease obligationsLease obligations under operating leases. Total future lease payments:

Within 1 year…

Charges and securityThe following assets have been placed as security with bankers:

Buildings…