Kg BidCo ApS - CVR: 39147734

2023, DKK

03.07.2024

Bruttoresultat

-69.072'

Primær drift

-76.248'

Årets resultat

-117''

Aktiver

267''

Kortfristede aktiver

8.152'

Egenkapital

-408''

Afkastningsgrad

-29 %

Soliditetsgrad

-153 %

Likviditetsgrad

1 %

Resultat

03.07.2024

Årsrapport	2023 03.07.2024	2022 06.07.2023	2021 30.06.2022	2020 07.06.2021	2019 31.08.2020	2017 25.06.2019
Nettoomsætning	0	0	0	0	0
Bruttoresultat	-69.072.000	-47.249.000	-22.506.000	-46.086.000	-39.266.000	0
Resultat af primær drift	-76.248.000	-54.119.000	-29.431.000	-56.902.000	-49.791.000	320.131.000
Indtægter af kapitalandele (tilknyttede og associerede)	0	0	0	0	0	0
Finansielle indtægter	1.325.000	702.000	245.000	758.000	0	1.000
Finansieringsomkostninger	-42.022.000	-33.454.000	-28.504.000	-24.652.000	-36.529.000	-30.406.000
Andre finansielle omkostninger	0	0	0	0	0	0
Resultat før skat	-116.945.000	-86.871.000	-57.690.000	-80.796.000	-86.320.000	-743.495.000
Resultat	-116.945.000	-86.871.000	-57.150.000	-80.306.000	-85.971.000	-743.495.000
Forslag til udbytte	0	0	0	0	0	0

Aktiver

03.07.2024

Årsrapport	2023 03.07.2024	2022 06.07.2023	2021 30.06.2022	2020 07.06.2021	2019 31.08.2020	2017 25.06.2019
Kortfristede varebeholdninger	0	0	0	0	0	0
Kortfristede tilgodehavender fra salg og tjenesteydelser	8.136.000	5.725.000	1.502.000	1.335.000	3.260.000	409.618.000
Likvider	16.000	0	15.000	181.000	11.000	50.000
Kortfristede aktiver	8.152.000	5.725.000	1.517.000	1.516.000	3.271.000	409.668.000
Immaterielle aktiver og goodwill	0	0	0	0	0	0
Finansielle anlægsaktiver	258.446.000	162.131.000	134.374.000	134.374.000	134.374.000	0
Materielle aktiver	0	0	0	0	0	0
Langfristede aktiver	258.446.000	162.131.000	134.374.000	134.374.000	134.374.000	0
Aktiver	266.598.000	167.856.000	135.891.000	135.890.000	137.645.000	409.668.000

Aktiver

03.07.2024

Passiver

03.07.2024

Årsrapport	2023 03.07.2024	2022 06.07.2023	2021 30.06.2022	2020 07.06.2021	2019 31.08.2020	2017 25.06.2019
Forslag til udbytte	0	0	0	0	0	0
Egenkapital	-407.593.000	-386.963.000	-327.948.000	-270.798.000	-190.492.000	-104.522.000
Hensatte forpligtelser	0	0	0	0	0	0
Langfristet gæld til banker	40.692.000	40.015.000	39.995.000	39.707.000	39.579.000	344.596.000
Anden langfristet gæld		0	0	0	0	0
Leverandører af varer og tjenesteydelser	10.394.000	28.001.000	9.769.000	16.270.000	17.226.000	17.136.000
Kortfristede forpligtelser	633.499.000	514.804.000	423.844.000	366.981.000	288.558.000	169.594.000
Gældsforpligtelser	674.191.000	554.819.000	463.839.000	406.688.000	328.137.000	514.190.000
Forpligtelser	674.191.000	554.819.000	463.839.000	406.688.000	328.137.000	514.190.000
Passiver	266.598.000	167.856.000	135.891.000	135.890.000	137.645.000	409.668.000

Passiver

03.07.2024

Nøgletal

03.07.2024

Årsrapport	2023 03.07.2024	2022 06.07.2023	2021 30.06.2022	2020 07.06.2021	2019 31.08.2020	2017 25.06.2019
Afkastningsgrad	-28,6 %	-32,2 %	-21,7 %	-41,9 %	-36,2 %	78,1 %
Dækningsgrad	Na.	Na.	Na.	Na.	Na.	Na.
Resultatgrad	Na.	Na.	Na.	Na.	Na.	Na.
Varelagerets omsætningshastighed	Na.	Na.	Na.	Na.	Na.	Na.
Egenkapitals-forretning	28,7 %	22,4 %	17,4 %	29,7 %	45,1 %	711,3 %
Payout-ratio	Na.	Na.	Na.	Na.	Na.	Na.
Gældsdæknings-nøgletal	-181,4 %	-161,8 %	-103,3 %	-230,8 %	-136,3 %	1.052,9 %
Soliditestgrad	-152,9 %	-230,5 %	-241,3 %	-199,3 %	-138,4 %	-25,5 %
Likviditetsgrad	1,3 %	1,1 %	0,4 %	0,4 %	1,1 %	241,6 %

Resultat

03.07.2024

Gæld

03.07.2024

Årsrapport

03.07.2024

Nyeste:01.01.2023- 31.12.2023(offentliggjort: 03.07.2024)

Information om virksomhedens regnskabsklasse:The annual report of Kg BidCo ApS for 2023 has been prepared in accordance with the provisions in the Danish Financial Statements Act applying to large reporting class C entities.

Oplysning om eventualaktiver:Kg BidCo ApS was in June 2020 awarded E 87 million (c. DKK 648 million) by the International arbitral tribunal in Denmark. The international arbitral tribunal ruled in accordance with Kg BidCo ApS’ claims of fraud and willful misconduct and sanctioned the seller Green Magnum S. A. to pay E87 million in compensation to Kg BidCo ApS. The tribunal ruled that Green Magnum S. A. in January 2018 sold Gram Equipment A/S (and GEH Invest ApS), based on fraudulent financial reporting and therefore was liable to pay damages to Kg BidCo ApS. The ruling is final and cannot be appealed. However, due to the uncertainties, the receivable is not recognized in the Financial statements as the counterpart failed to pay the award in due time on the due date of 7 July 2020. Kg BidCo ApS have and will continue to pursue any legal steps against the parties associated with Green Magnum S. A. in order to collect the awarded compensation of EUR 87 million arising from fraud and willful misconduct. In November 2023 the Danish Maritime and Commercial High Court issued an adverse ruling for Kg BidCo ApS in a case filed by Kg BidCo ApS against, inter alia, the former owners of Green Magnum S. A. and the former managers of Gram Equipment A/S. In the ruling, Kg BidCo ApS was ordered to pay legal costs totalling approximately DKK 45 million. Kg BidCo ApS has appealed the ruling.

Beretning

03.07.2024

Dato for ledelsens godkendelse af årsrapporten:2024-06-28

Beskrivelse af usædvanlige forhold, der kan have påvirket indregningen eller målingen:In November 2023 the Danish Maritime and Commercial High Court issued an adverse ruling for Kg BidCo ApS in a case filed by Kg BidCo ApS against, inter alia, the former owners of Green Magnum S. A. and the former managers of Gram Equipment A/S. In the ruling, Kg BidCo ApS was ordered to pay legal costs totalling approximately DKK 45 million. Kg BidCo ApS has appealed the ruling. Kg BidCo ApS was in June 2020 awarded E 87 million (c. DKK 648 million) by the International arbitraltribunal in Denmark. The international arbitral tribunal ruled in accordance with Kg BidCo ApS’ claims of fraud and willful misconduct and sanctioned the seller, Green Magnum S. A (Luxembourg), to pay a total amount of E87 million in compensation to Kg BidCo ApS. The tribunal ruled that Green Magnum S. A. in January 2018 sold Gram Equipment A/S (and GEH Invest ApS), based on fraudulent financial reporting and therefore was liable to pay damages to Kg BidCo ApS. The ruling is final and cannot be appealed. Procuritas has, on behalf of Green Magnum S. A, stated that Green Magnum S. A. currently has limited financial means, why they expect that Kg BidCo ApS de facto will not receive any cash payout from Green Magnum S. A. Kg BidCo ApS will pursue any legal steps against the parties associated with Green Magnum S. A. in order to collect the awarded compensation of EUR 87 million arising from the fraud and willful misconduct. Due the uncertainties of the awarded compensation, none of the awarded amounts are reflected as receivables in the Financial Statements for Kg BidCo ApS, please refer to Note 19 “Contingent assets”. The Company and Group had significantly legal expenses related to the case during the year.

Statement by Management on the annual report

Identifikation af den godkendte årsrapport:Today, the Board of Directors and the Executive Board have discussed and approved the annual report of Kg BidCo ApS for the financial year 1 January - 31 December 2023.

Management's review

Beskrivelse af virksomhedens væsentligste aktiviteter:Kg Bidco ApS is a holding company. Kg BidCo ApS's subsidiary "Gram Equipment" is an engineering company that designs, assembles, and installs equipment and production lines, as well as spare parts and services to the global ice cream industry. Following the significant operational turnaround work and capital investments made in 2018-2022, we saw continued positive development in 2022 as envisaged in the revised business plan that was implemented when the new owners and new top management took over the leadership of the Group in 2018. The global supply chain issues which started in 2022 continued into 2023, but improved during the year. Among other things, this led to a lower efficiency in the organization, which led fixed costs to increase during 2023 to compensate for the lower efficiency. As a result, EBITDA was on level with 2022, which was also in line with expectations communicated in the 2022 annual report. In the coming years, our key focus will be to secure stable supplies of raw materials, including components, and to improve the efficiency in the organization. Similar to 2022, it proved difficult to manage the Group’s net working capital in 2023 given the continued problems with getting parts timely and the stacked assembly of projects in the second half of 2023. This resulted in continued higher inventories, delayed milestone payments and an overall net working capital at the same level as for 2022. As a result, the group continued to experience negative cash flows from operating activities also in 2023. The mission of Gram Equipment is - driven by continuous improvements – to ensure our customers success in the ice cream industry by providing innovative solutions and services while seeking to minimize the environmental impact of our solutions and footprint: We are dedicated to promoting business integrity, ensuring safety and workplace standards, and making all people feel respected. War in Ukraine In February 2022, Russia invaded Ukraine and during 2023 the war continued. Following the invasion, we took actions to ensure the safety of all our employees, working, living, and travelling in the region. Furthermore, we worked closely together with a supplier based in Ukraine to help them and their employees. Because of the continued war, the supplier is no longer able to maintain the production and in early 2024 they will close. We have been given due notice and have transferred the items produced in Ukraine from this supplier to other suppliers. Shortly after the invasion, Gram Equipment decided to suspend the acceptance of new orders for projects in Russia and Belarus. We decided in 2022 to close our office in Russia, this decision was executed during 2023 and we no longer have any activity or presence in Russia. ERP implementation In February 2023 we implemented a new ERP-system, which is reflected in the increase in intangible assets.