DANCENTER A/S

Description of key activities of the companyThe Company’s principal activities comprise arranging vacation rental of private holiday accommo-dation in Scandinavia and, to a lesser extent, in Germany. DanCenter A/S is one of Denmark’s leading intermediaries of vacation rental with approx. 11,160 holiday homes for rent in Denmark, Sweden, Norway and Germany, which makes the Company one of the largest intermediaries on a European scale. DanCenter A/S has two main brands: DanCenter & Danland. The DanCenter brand comprises more than 8,014 holiday homes, of which two thirds are located in Denmark and the remaining part in Norway, Sweden and Germany. The holiday homes are privately owned holiday homes in the form of cottages. The Danland brand comprises approx. 3,146 holiday homes that are all located in Denmark. The holiday homes are privately owned holiday flats located in holiday centres with varying shared facilities. DanCenter A/S’ primary source markets are Denmark, Germany, Netherlands, Norway and Sweden with Germany being the largest rental market. The development in the current season is favourable as compared with budget except that there were few one time costs such as slump sale for setting up Dancenter India branch and restructuring activity. But given that it was a one-time activity, it will result in significant cost savings in coming years. Although, the company has exceeded its revenue expectations by a fair margin which demonstrates a positive development in the current year.