Nordic Eye K/S - CVR: 38155326

2023, EUR

09.07.2024

Bruttoresultat

-1.851'

Primær drift

Na.

Årets resultat

-297''

Aktiver

120''

Kortfristede aktiver

1.196'

Egenkapital

111''

Afkastningsgrad

0 %

Soliditetsgrad

93 %

Likviditetsgrad

80 %

Resultat

09.07.2024

Årsrapport	2023 09.07.2024	2022 17.05.2023	2021 05.05.2022	2020 01.07.2021	2019 04.05.2020	2018 06.05.2019	2016 13.05.2018
Nettoomsætning
Bruttoresultat	-1.850.507	-1.211.804	-1.435.657	-1.772.531	-1.956.142	-1.785.718	-1.496.482
Resultat af primær drift	0	0	0	0	-1.956.142	-1.785.718	-1.496.482
Indtægter af kapitalandele (tilknyttede og associerede)	0	0	0	0	0	0	0
Finansielle indtægter	-294.413.645	-22.889.777	293.988.928	57.751.472	20.543.081	19.627.581	15.574.283
Finansieringsomkostninger	0	0	0	0	0	0	0
Andre finansielle omkostninger	-731.591	-7.806	-165.138	-29.506	-60.997	-59.928	-18.760
Resultat før skat	0	0	0	0	18.525.942	17.781.935	14.059.041
Resultat	-296.995.743	-24.109.387	292.388.133	55.949.435	18.525.942	17.781.935	14.059.041
Forslag til udbytte	0	0	0	0	0	0	0

Aktiver

09.07.2024

Årsrapport	2023 09.07.2024	2022 17.05.2023	2021 05.05.2022	2020 01.07.2021	2019 04.05.2020	2018 06.05.2019	2016 13.05.2018
Kortfristede varebeholdninger	0	0	0	0	0	0	0
Kortfristede tilgodehavender fra salg og tjenesteydelser	39.240	39.240	43.139	43.139	203.840	1.749.520	1.851.282
Likvider	1.156.979	32.789	945.534	2.416.353	5.672.728	7.731.782	4.310.448
Kortfristede aktiver	1.196.219	72.029	988.673	2.459.492	5.876.568	9.481.302	6.161.730
Immaterielle aktiver og goodwill	0	0	0	0	0	0	0
Finansielle anlægsaktiver	118.893.124	408.761.399	431.555.165	137.707.397	78.812.646	48.744.858	12.580.979
Materielle aktiver	0	0	0	0	0	0	0
Langfristede aktiver	118.893.124	408.761.399	431.555.165	137.707.397	78.812.646	48.744.858	12.580.979
Aktiver	120.089.343	408.833.428	432.543.838	140.166.889	84.689.214	58.226.160	18.742.709

Aktiver

09.07.2024

Passiver

09.07.2024

Årsrapport	2023 09.07.2024	2022 17.05.2023	2021 05.05.2022	2020 01.07.2021	2019 04.05.2020	2018 06.05.2019	2016 13.05.2018
Forslag til udbytte	0	0	0	0	0	0	0
Egenkapital	111.290.572	408.286.315	432.395.702	140.007.569	84.366.798	56.356.438	16.571.793
Hensatte forpligtelser	0	0	0	0	0	0	0
Langfristet gæld til banker	0	0	0	0	0	0	0
Anden langfristet gæld		0	0	0	0	0	0
Leverandører af varer og tjenesteydelser	676.523	0	0	0	0	0	0
Kortfristede forpligtelser	1.498.915	547.113	148.136	159.320	322.416	1.869.722	2.170.916
Gældsforpligtelser	8.798.771	547.113	148.136	159.320	322.416	1.869.722	2.170.916
Forpligtelser	8.798.771	547.113	148.136	159.320	322.416	1.869.722	2.170.916
Passiver	120.089.343	408.833.428	432.543.838	140.166.889	84.689.214	58.226.160	18.742.709

Passiver

09.07.2024

Nøgletal

09.07.2024

Årsrapport	2023 09.07.2024	2022 17.05.2023	2021 05.05.2022	2020 01.07.2021	2019 04.05.2020	2018 06.05.2019	2016 13.05.2018
Afkastningsgrad	Na.	Na.	Na.	Na.	-2,3 %	-3,1 %	-8,0 %
Dækningsgrad	Na.	Na.	Na.	Na.	Na.	Na.	Na.
Resultatgrad	Na.	Na.	Na.	Na.	Na.	Na.	Na.
Varelagerets omsætningshastighed	Na.	Na.	Na.	Na.	Na.	Na.	Na.
Egenkapitals-forretning	-266,9 %	-5,9 %	67,6 %	40,0 %	22,0 %	31,6 %	84,8 %
Payout-ratio	Na.	Na.	Na.	Na.	Na.	Na.	Na.
Gældsdæknings-nøgletal	Na.	Na.	Na.	Na.	Na.	Na.	Na.
Soliditestgrad	92,7 %	99,9 %	100,0 %	99,9 %	99,6 %	96,8 %	88,4 %
Likviditetsgrad	79,8 %	13,2 %	667,4 %	1.543,7 %	1.822,7 %	507,1 %	283,8 %

Resultat

09.07.2024

Gæld

09.07.2024

Årsrapport

09.07.2024

Nyeste:01.01.2023- 31.12.2023(offentliggjort: 09.07.2024)

Information om virksomhedens regnskabsklasse:This annual report has been presented in accordance with the provisions of the Danish Financial Statements Act governing reporting class C enterprises (large). The accounting policies applied to these financial statements are consistent with those applied last year with exception that the annual report 2022 is presented in accordance with governing reporting class C (large). Reporting currency is Euro (EUR).

Oplysning om pantsætninger og sikkerhedsstillelser:13 Assets charged and collateralAll of the fund's shares in one portfolio investment with a recognised fair value of 14.2 mEUR have been pledged as security for the loan raised of 7.299.856 EUR described in note 8.

Beretning

09.07.2024

Dato for ledelsens godkendelse af årsrapporten:2024-07-04

Beskrivelse af usikkerhed ved indregning eller måling:Uncertainty relating to recognition and measurement When preparing the fund’s annual report, the General Partner, in accordance with legislative provisions, makes accounting judgements and estimates forming the basis of the annual report. These accounting judgement and estimates are described in note 3 “Uncertainty relating to recognition and measurement" to which we refer. The estimates are primarily related to the fair value measurement of investments in portfolio enterprises made based on assumptions which the General Partner consider reasonable and realistic but are by nature uncertain. As the fund invests in unlisted equity investments within venture capital, the valuation may be uncertain due to several factors, including: i) current macrøconomic conditions and outlook, ii) industry specific factors, and iii) company specific factors. The individual company valuation depends to a large degree on execution of strategy by the individual companies. Furthermore, in times of elevated economic uncertainty and volatility, valuations should be viewed with further caution. The fund's largest investment makes up 55% of the investments, and operates within the health-tech space, mainly in North America. The portfolio company has experienced a decline in valuation during the financial year of approximately 70%, which can be attributed to the conditions outlined below. The fund’s result for the year is therefore significantly affected by this unrealized negative value adjustment of this portfolio company. The valuation of the portfolio company is in accordance with generallly accepted methods calculated as a product of primarily budgeted revenue, multiples for peer group companies and adjustments for entity specific circumstances, etc. First and foremost, the peer group for the portfolio company, which is the basis for the applied valuation multiple, has experienced a decrease of 35% compared to 31 December 2022 and 65% compared to 31 December 2021. The decrease in comparable multiples can be attributed to the increased macrøconomic uncertainty during 2023, which has had a negative effect on especially venture capital and companies with similar business model as the underlying portfolio company. A recent report from Pitchbook shows approx. 65% decline in valuations for the venture-growth segment from 2021 until 2023. The underlying portfolio company experienced realized revenue growth of 15% percent between 2022 and 2023. However, the company saw a substantial growth in the first half of 2023, and a significant decrease in the last half of 2023. Consequently, the expected 2024 revenues have been adjusted downwards relative to prior expectations due to this decline in the revenues. The decline in revenues in second half of 2023 is for the most parts related to changing legislation regarding personal sensitive data. Resulting actions lead to increased uncertainty around growth, customer retention and marketing strategy within the portfolio company, which affects expectations for 2024 revenues – and therefore affects the valuation negatively relative to last year. Finally, in accordance with normal practice, the applied multiple is adjusted relative to peers. Attributed to the fact, that the company's budgeted growth and earnings (EBIT) for 2024 are below the expected average development for the peer-group, the adjustment results in a discount compared to peers. Due to above matters the realization and valuation of the estimated fair market value is subject to material uncertainty.

Statement by Management on the annual report

Identifikation af den godkendte årsrapport:The Executive Board has today considered and approved the annual report of Nordic Eye K/S for the financial year 01. 01. 2023 - 31. 12. 2023.

Management's review

Beskrivelse af virksomhedens væsentligste aktiviteter:Primary activitiesThe fund 's objective is to invest in tech Companies within lifestyle and SåS solutions. The fund is fully invested, and døs not carry out new investments.