PG DEVELOPMENT ApS

PG Development is a diversified holding company with a portfolio of investments spanning several industries. The strategic approach centers around acquiring and nurturing smaller, high-potential businesses while maintaining a significant stake in the flagship company, Autorola Group Holding A/S. This dual focus allows PG Development to balance steady income from established entities with growth opportunities from emerging enterprises. ​​The major investment, Autorola Group Holding A/S, continues to be the cornerstone of the portfolio, contributing​significantly to revenue and profitability. Over the past fiscal year, Autorola Group Holding A/S achieved substantial growth, driven by strategic expansions and innovative product offerings. ​​Autorola Group delivers vehicle auction IT systems…

Development in activities and finances

This year's financial performance shows a loss after tax of DKK 86,920k. The balance sheet on 31 December 2025 shows an equity amount of DKK 457,231k and a balance sheet total of DKK 1,637,002k .​​The loss after tax is mainly due to financial cost on acquisition loan and depriciation of goodwill in connection with the acquisition of last 50% of Autorola Group Holding A/S back in 2023.

Profit before tax and amortisation of acquired intangible assets for 2026 is expected to reach between DKK 50-80m.​ ​Market Background ​The European automotive market continued its slow and uneven recovery throughout 2025. By November, EU new passenger car registrations had increased by 1.4% year‑to‑date, yet volumes still remained below pre‑pandemic benchmarks. Battery‑electric vehicles (BEVs) accounted for 16.9% of new registrations, while hybrid ​powertrains remained the preferred choice in many countries due to cost considerations and charging limitations. ​ ​Consumer sentiment remained fragile. Elevated financing costs and broader cost‑of‑living pressures constrained private demand, while manufacturers continued to navigate strict CO₂ targets, rising electrification expenses, and a p…

Profit/loss for the year in relation to expected developments

The performance in 2025 was below expectations and below budget and is therefore considered unsatisfactory. Overall, the Group achieved growth across most subsidiaries; however, a few key markets, most notably Denmark, Belgium and the Netherlands, experienced a decline compared to the previous year. In contrast, the German, French and Spanish markets delivered strong growth and remain important drivers for the Group’s long-term development. ​ ​Across the business units, the Marketplace division was affected by the lack of growth in the total number of cars sold compared to last year. This resulted in a lower conversion rate and a decline in the profit ratio compared to 2024. The Solution business unit experienced a further weake…

There have been no material uncertainties or material unusual matters affecting recognition.

No events have occurred after the balance sheet date to this date, which would influence the evaluation of this annual report.

No events have occured after the balance sheet date to this date which would influence the evaluation of this annual report.

The Group has the following contingent liabiliities​​The rental obligation amounts to DKK 49,022k.​Lease commitments amount to DKK 474k.​Other obligations amounts to DKK 928k.

24 Assets charged and collateral

Bank debt has been secured by a company charge of DKK 28,000k. Carrying amount of mortgaged assets is DKK 115,928k at 31 December 2025. ​ ​Intangible assets DKK 85,982k ​Property, plant and equipment DKK 4,432k ​Inventories DKK 50k ​Trade receivables DKK 25,464k ​Total DKK 115,928k​​Equity interests in the subsidiary Autorola Group Holding A/S have been pledged as security for bank debt, with a carrying amount of DKK 112,500k as of 31 December 2025. The subsidiary, which has been pledged as security, is​included in the consolidated financial statements with net assets totalling DKK 1,022,133k as of 31 December 2025.