MONIER ApS

Principal activities of the company

The Company is engaged in the production and sale of roofing products and related products. The production of concrete and brick roof tiles takes place in Hersom and Volstrup. The Company moreover sells interlocking tiles from its affiliated companies in Germany and the Netherlands.

Monier ApS is part of the BMI Group, which in turn is part of the Standard Industries family of companies, which includes GAF, the leading manufacturer of roofing and waterproofing solutions in North America. BMI Group was established following the coming together of Braas Monier and Icopal in 2017. The combined heritage of these two groups represents a rich history of delivering roofing and waterproofing excellence to customers and brings together some of the biggest and most trusted names in the industry.

Development in activities and financial matters

The Company reported a profit before tax of DKK'000 26,623 for 2020 and the Company's balance sheet showed equity of DKK'000 236,034 at 31 December 2020. Profit for the year is better than expected for 2020, and also better than last year. The profit for the year is considered satisfactory. The operating cash flow for the year is satisfactory for the year.

Monier ApS’ activities are affected by the development in the roofing market.

The Company expects the market for 2021 to be at the same level as in 2020. The Company expects positive result and positive cash flow from operations. The Company is expected to continue big investments to develop the company.

Significant events after the balance sheet date

No events have occurred after the balance sheet date affecting the evaluation of the annual report.

Guarantees and other contingent liabilities

The Company is under an obligation to re-establish and maintain gravel areas and re-establish clay areas. However, these areas are re-established on a regular basis. Accordingly, the Company's liabilities were computed at DKK'000 0 at 31 December 2020.…