DKCF ApS
Key figures
- Return on assets
- –
- Return on equity
- -55.8%
- Current ratio
- 1,386.8%
- Equity ratio
- 98.5%
Profit and loss
| Reporting period | |
|---|---|
Gross profit | -34,000 |
Finance income | 14,000 |
Finance expenses | 27,000 |
Tax expense | 0 |
Profit/loss for the year | -2,496,000 |
Balance sheet
| Reporting period | |
|---|---|
Cash and cash equivalents | 823,000 |
Current assets | 943,000 |
Non-current assets | 3,596,000 |
Total assets | 4,539,000 |
Equity | 4,471,000 |
Liabilities | 68,000 |
Current liabilities | 68,000 |
Working capital
| Reporting period | |
|---|---|
Other current payables | 50,000 |
Capital and dividend
| Reporting period | |
|---|---|
Contributed capital | 125,000 |
Retained earnings | 4,346,000 |
Investments and assets
| Reporting period | |
|---|---|
Long-term investments and receivables | 3,596,000 |
Annual report highlights
Business and development
The company owns the shares in the subsidiary Cembrit SAS, France.
Financial review The result for the year was a loss of DKK 2.4m which is as expected.
With COVID-19 the level of uncertainty is high and accurately assessing the impact on our financial performance for 2020 is difficult. If the impact from COVID-19 is less material and the launched initiatives deliver as planned, performance is expected to improve in 2020 compared to 2019.
Forward-looking statements Statements in the Annual Report 2019 concerning the future reflect the company’s current expectations about future events and financial results. Statements concerning the future are naturally subject to uncertainty, and actual results may differ from expected results. COVID-19 has increased the level of uncertainty. Differences may be caused by, but are not limited to, economic and financial market developments, developments in product demand, competitive conditions etc. The company disclaims any liability to update or adjust statements in the Annual Report 2019 about future or possible reasons for differences between actual and anticipated results except where required by legislation.
Risks and material matters
The ultimate parent company Cembrit Group A/S has been financed with a EURm 115 bond, which expires in March 2021. Furthermore, the parent company Cembrit Holding A/S has a DKKm 75 bank credit facility, which DKCF ApS is included in via a cash-pool. The DKKm 75 bank credit facility expires in January 2021. A refinancing of the bond and the bank credit facility is being reviewed to ensure the long-term financing of Cembrit Group and the Cembrit Group companies, including DKCF ApS. A decision by Cembrit Group A/S Management on the refinancing is expected in the coming months
No events have occurred after the balance sheet date which could significantly affect the company's financial position.
Commitments and security
The company is jointly taxed with its parent company, Cembrit Group A/S (management company), and jointly and severally liable with other jointly taxed entities for payment of income taxes for income year 2013 onwards as well as for payment of withholding taxes on dividends, interest and royalties which fall due for payment on or after 1 July 2012.
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