Design Collection Denmark ApS

The parent company's activity consists of operating as a holding company for its wholly owned subsidiary, Design Collection ApS, and its subsidiaries, as well as related activities.​​The group's main activities consist of trading radio and TV products from Bang & Olufsen, as well as operating a coffee, tapas, and wine bar and other related businesses.

Development in activities and finances

The parent company's result after tax is a deficit of DKK 6,865 thousand compared to a deficit of 6,791 thousand.​​During the financial year, the company implemented structural changes with the aim of managing the company's​and the group's capital structure. In this connection, a capital increase was made by debt repayment of DKK 41 million. The parent company was also merged with True North Design A/S during the financial year, which contributed to strengthening the parent company's and the group's equity by DKK 2.3 million.​​The group's result after tax is a deficit of DKK 9,530 thousand this year compared to a deficit of DKK 6,305 thousand last year, which can be explained by closure and restructuring costs related to the implemented structural changes exceeding expectations, with total costs amounting to DKK 4,200 thousand in Drewsens Group. In addition, the Group didn’t fully convert its sales pipeline into realized business during the year, which also negatively impacted the result.

The Groups gross profit for the coming year is expected to be a deficit in the range DKK 26-27 and the result before tax is expected to be DKK 0.

Profit/loss for the year in relation to expected developments

In connection with the preparation of the annual report for 2024, it was management's expectation that the year's result would be in the range of DKK 1-2 million in loss. The group has not been able to meet this expectation, primarily due to the significant resources, both in terms of time and costs, devoted to the implementation of structural changes during the year. As a result, management focus was periodically diverted from day-to-day operations, which adversely affected performance. Furthermore, closure and restructuring costs were significantly higher than anticipated, which further impacted on the result.

19 Assets charged and collateral

To secure bank debt, a nominal owner mortgage of DKK 14,400 thousand has been deposited as a business charge on goodwill, operating equipment and machinery, inventory, and simple receivables arising from the sale of goods and services. The accounting value of the pledged assets amounts to DKK 57,873 thousand.​​To secure debt to the parent company amounting to DKK 31,543 thousand, the group's subsidiaries have been pledged as collateral.