COBOD International A/S — Regnskab

CVR 38151886

Seneste regnskabsperiode

2025 • 2025-01-01 • 2025-12-31 • entity • DKK • 33114112 • -6477173 • -42462899 • -39403039 • 71655109 • 12786189 • 45

Regnskabshistorik

2024 • 2024-01-01 • 2024-12-31 • entity • DKK • 89768161 • 36145527 • 2992316 • 813383 • 85689453 • 23161946 • 48
2023 • 2023-01-01 • 2023-12-31 • entity • DKK • 80838306 • 36728049 • 2025618 • 1282633 • 77156555 • 22348563 • 59
2022 • 2022-01-01 • 2022-12-31 • entity • DKK • 116766090 • 37789997 • 7452716 • 5962421 • 79104207 • 21065930 • 54
2021 • 2021-01-01 • 2021-12-31 • entity • DKK • 83459904 • 25803156 • 8925839 • 6976893 • 69706437 • 17603510 • 40
2020 • 2020-01-01 • 2020-12-31 • entity • DKK • 9321294 • 875386 • 722126 • 20024153 • 9139225 • 0
2019 • 2019-01-01 • 2019-12-31 • entity • DKK • 4945929 • -46478 • 151232 • 12771053 • 6176638 • 12
2018 • 2018-01-01 • 2018-12-31 • entity • DKK • 97056 • -2118494 • -1931824 • 7662340 • 6025406 • 8
2017 • 2017-01-01 • 2017-12-31 • entity • DKK • -4170 • -4170 • 830 • 2525360 • 125830 • 0

Højdepunkter fra årsrapporten

primary activities • The Company is the leading robotic 3D construction printing company globally. The main activities of the company are development, manufacturing, sales and service of robotic 3D construction printers and related equipment and activities. The company is global with customers in Asia, Africa, Australia, The Middle East, Europe, South, and North America. • entity
development in activities and financial affairs • Construction activity remained low in 2025, especially within the residential sector in Europe and the US and uncertainty lingers due to the wars in Ukraine and Middle East. The two extra-large BOD-XL printers were delivered during the year to a company in Qatar and have been erecting a large public-school building, the largest 3D printed building so far. This is a major breakthrough in the industry and shows what the technology is capable of. As a result the interest for the companies’ technology slowed down leading to a reduction in revenue and other income during 2025 and caused a disappointing loss of DKK 46,669,158 before tax and a net loss of DKK 39,403,039.Management is not satisfied with the result.On 31 December 2025 the balance sheet of the Company showed an Equity of DKK 12,786,189The past year and follow-up on development expectations from last yearThe result for 2025 was worse than expected at the end of 2024, despite a negative outlook on market conditions in Europe and the US was expected to continue throughout 2025. The 3D construction technology is yet in its infancy and the US market was negatively affected by secondhand machines.Capital resourcesThe Board of Directors and Executive Management have carefully assessed the Company's financial position and the material uncertainty described in Note 1. This assessment has included a review of the Company's updated liquidity forecast, the status of ongoing commercial negotiations, and the nature and extent of the main shareholder's financial support.Based on this assessment, the Board and Executive Management consider it probable that one or more of the prospective orders mentioned in Note 1 will be finalised within Q3 2026. The Board and Executive Management further note that the Company's main shareholder has, on previous occasions, demonstrated willingness to provide financial support to the Company, reflecting the shareholder's continued belief in the Company's business and prospects. While no assurance has be given that such support will be provided in the future, the Board and Executive Management consider this track record a relevant factor in their overall assessment.On this basis, and taking into account the prospective orders and the shareholder's demonstrated track record of support, the Board and Executive Management have concluded that the annual report can be prepared on a going concern basis, while acknowledging that this conclusion is subject to material uncertainty as described in Note 1. • entity
management review • Research and development The company is conducting significant R&D efforts related to automation, robotics and printing technologies and to construction methods and materials. Our aim remains to develop multifunctional construction robots based on 3D printing technology and the unique skills and competences of our extraordinary talented team which at the end of the financial year was 60 people.The company is involved in several development cooperation communities and cooperations in R&D projects with some of the leading academic institutions and materials suppliers globally. Some of the R&D efforts have been expensed, while R&D efforts related to grants have been capitalized representing a valuable immaterial asset. The grant income related to the same R&D efforts has also been taken on the balance sheet under deferred income, reducing the net value of the capitalized asset and future amortisations.The company’s main knowledge resources are within 3D- and robotics technology and software, materials mixing and handling, and 3D printing of constructions, forming the base for future growth and profitability.A part of the R&D effort is the aim to reduce the level of cement within construction since cement carries a high CO2 footprint. R&D efforts will continue on a very high level despite the modest revenue level.Regional OfficesThe company has sales- and service organisations in the USA (Miami) and Malaysia (Kuala Lumpur) to perform sales- and service activities for customers in the Americas and Asia Pacific regions. • entity
going concern uncertainty • As described in the management review, material uncertainty exists regarding the Company's ability to continue as a going concern. This uncertainty relates to the Company's capital resources over the next 12 months from the date of this annual report and may cast significant doubt on the Company's ability to continue its operations.The Company's liquidity preparedness during 2026 has been secured through the ongoing adjustment and assessment of fixed costs and working capital, as well as through loans and capital contributions from existing shareholders.In order for the Company's liquidity preparedness to be considered sufficient, it is necessary that the 2026 budget approved by the Board of Directors is achieved.This means that during the second half of 2026, the Company must:•Achieve significant growth in the number of orders while maintaining the contribution margins realized to date.•Receive a number of grant payments related to approved grants for certain development projects.•Obtain additional capital contributions from existing shareholders or capital injections from new, should the number of new orders not enable the financing of the company’s operations and servicing of it’s debt.The above assumptions are considered optimistic but achievable. However, as none of these assumptions have been implemented or contractually secured as of the date of signing, they represent a material uncertainty that may cast doubt on the Company's ability to continue as a going concern.Management is in advanced discussions on several new large orders, which are expected to be finalised during Q3 2026. In addition, the Company's main shareholder has, on previous occasions, demonstrated willingness to provide financial support to the Company, reflecting the shareholder's continued belief in the Company's business and prospects.On this basis, and after due consideration of the above factors, management has concluded that it is appropriate to prepare the annual report on a going concern basis in accordance with the Danish Financial Statements Act. The financial statements do not include any adjustments that might result from this uncertainty, including adjustments relating to the classification of assets and liabilities that might be necessary should the Company be unable to continue as a going concern. • entity
recognition measurement uncertainty • We refer to note 2 for a description of the uncertainty related to recognition and measurement of development projects. • entity
recognition measurement uncertainty • In the annual report, the carrying amount of development projects is DKK 33,992k. It is management's assessment that there is no need for impairment of development projects as the company's long term financial development is realized as expected.Deferred income consist of payments received relating to the development projects. Deferred income which consists of grants to development projects amounts to DKK 17,935k.The development projects and grants are associated with a number of estimates and uncertainties regarding assumptions about future events.Management considers the applied assumptions used to be reasonable, these are, however, associated with some uncertainty and unpredictability, especially regarding future profits for the individual projects. If the applied assumptions are not met or only partially met the carrying amount of the capitalized development costs and deferred income will be negatively affected. The annual report has been prepared on the basis of management's best estimates and assessments at the time of presentation of the annual report. • entity
unusual matters • The financial position at 31 December 2025 of the Company and the results of the activities and cash flows of the Company for the financial year for 2025 have not been affected by any unusual events. • entity
subsequent events • Low sales in the beginning of the year caused the company to lay off a significant number of people at end of March 2026, and shareholders have provided loans to ensure continued operations. Except for the matters described in the Capital Resources section, no events have occurred after the balance sheet date that materially affect the evaluation of the Annual Report. • entity
contingent liabilities • Rental and lease obligationsLease obligations under operating leases. Total future lease payments:Payments under operating leases concerning cars. period of non-terminability 24-58 months52,615156,568Rent payment. period of non-terminability6,827,364841,641Payments under operating leases concerning machines. period of non-terminability 4-16 months286,792499,4847,166,7711,497,693Other contingent liabilitiesThe group companies are jointly and severally liable for tax on the jointly taxed incomes etc of the Group. The total amount of corporation tax payable is disclosed in the Annual Report of The 3D Group A/S, which is the management company of the joint taxation purposes. Moreover, the group companies are jointly and severally liable for Danish withholding taxes by way of dividend tax, tax on royalty payments and tax on unearned income. Any subsequent adjustments of corporation taxes and withholding taxes may increase the Company's liability.Other financial obligationsThe company's other financial obligations are not material to the financial reporting. • entity