BPI Finans ApS

BPI Finans ApS is, via Bramming Plast Industri Holding ApS, the majority shareholder of Bramming Plast-Industri A/S (BPI).

BPI aspires to be a value adding industrial partner – specializing in customer specific solutions, offering unique value propositions within four main applications areas; Insulation, Acoustic, vibration and comfort.

Manufacturing takes place at the plants in Bramming and in the subsidiary in Poland. Sales & marketing is handled by the sales department in Denmark.

In 2019 the group launched a new strategy with a clear vision of creating fully sustainable customer solutions supported by both industrial and scalable processes. The BPI continuous Improvement program secured a positive impact throughout the value chain, resulting in a positive development in both revenue and earnings.

The group realised an increasing revenue of DKK 317,275 thousand and an increasing gross profit of DKK 85,843 thousand. The Group's income statement for 2021 showed a profit of DKK 24,913 thousand, and the Group's balance sheet at 31 December 2021 showed equity of DKK 91,936 thousand.

Management finds results for 2021 to be satisfactory and in line with previous expectation as communicated on the 2020 Annual report.

The group has built a solid performance driven platform and continuously develops initiatives for growth in a combined sales -and supply chain strategy. We strive to realize the growth potential in industrial and sustainable solutions, building customer integration and strategic partnerships. Earnings in 2022 are expected in the range of DKK 57 million to DKK 60 million.

No unusual circumstances occurred during the year. Production and sales were only to a limited degree affected by the COVID-19 pandemic.

Despite the current situation in Ukraine, no events have occurred after the balance sheet date, which may materially affect the assessment of the Company's financial position.

Mortgages or other collateral in the Group's asset totaling DKK 81,941 thousand have been provided as collateral for the group company's payables to mortgage credit institutions, other credit institutions, creditors and other suppliers. The carrying amount of assets provided as collateral or mortgaged totals DKK 139,486 thousand. Security and the carrying amount are broken down on financial statement items as follows:

Land and buildings with a carrying amount of DKK 25,627 thousand at 31 December 2021 have been put up as security for debt to mortgage credit institutions, totaling DKK 26,170 thousand.…