Devoteam Cloud Services A/S

Description of key activities of the company

Like previous years, the activities are to develop, sell and maintain software including consultancy work within cloud solutions.

Development in activities and financial matters

The gross loss for the year totals DKK -202.109 against DKK -460.557 last year. Income or loss from ordinary activities after tax totals DKK -57.543 against DKK -370.724 last year. Management considers the net profit or loss for the year as expected.

The equity is negative with DKK 396,451 as of 31 December 2023 for which the company is subject to the rules for capital loss outlined in the Companies Act. The management expects that the contributed capital will be reestablished through future earnings or capital contribution from the parent company. The company has received a letter of comfort issued from the parent company to support the company's continued operations and investments and to provide the funds required to ensure that the company can fullfill its obligations as they fall due. The letter of comfort is valid up to and including 31 December 2024.

Events occurring after the end of the financial year

No events has occurred after the balance date that could cause a significant change in the company's current financial situation.