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2023, DKK
19.05.2024
Bruttoresultat

463'

Primær drift

-4.259'

Årets resultat

-3.798'

Aktiver

48.788'

Kortfristede aktiver

23.922'

Egenkapital

45.225'

Afkastningsgrad

-9 %

Soliditetsgrad

93 %

Likviditetsgrad

+500%

Resultat
19.05.2024
Årsrapport
2023
19.05.2024
2022
13.06.2023
2021
17.05.2022
2020
26.03.2021
2019
22.04.2020
Nettoomsætning
Bruttoresultat462.787-407.599-294.621-23.775-4.975
Resultat af primær drift-4.258.974-1.790.959000
Indtægter af kapitalandele (tilknyttede og associerede) 00000
Finansielle indtægter464.103334.106000
Finansieringsomkostninger00000
Andre finansielle omkostninger-3.328-91.597-5.96600
Resultat før skat-3.798.199-1.548.450-300.587-23.775-4.975
Resultat-3.798.199-1.548.450-305.158-19.204-13.781
Forslag til udbytte00000
Aktiver
19.05.2024
Årsrapport
2023
19.05.2024
2022
13.06.2023
2021
17.05.2022
2020
26.03.2021
2019
22.04.2020
Kortfristede varebeholdninger00000
Kortfristede tilgodehavender fra salg og tjenesteydelser 383.1593.252.5422.868.15900
Likvider23.538.8423.011.572156.335312.25055.400
Kortfristede aktiver23.922.0016.264.1143.024.494312.25055.400
Immaterielle aktiver og goodwill00000
Finansielle anlægsaktiver24.208.72512.235.84510.855.081254.5710
Materielle aktiver656.833389.861000
Langfristede aktiver24.865.55812.625.70610.855.081254.5710
Aktiver48.787.55918.889.82013.879.575566.82155.400
Aktiver
19.05.2024
Passiver
19.05.2024
Årsrapport
2023
19.05.2024
2022
13.06.2023
2021
17.05.2022
2020
26.03.2021
2019
22.04.2020
Forslag til udbytte00000
Egenkapital45.225.08118.113.40711.661.857544.51536.219
Hensatte forpligtelser00000
Langfristet gæld til banker00000
Anden langfristet gæld0000
Leverandører af varer og tjenesteydelser1.496.177541.708205.21800
Kortfristede forpligtelser3.373.508776.4132.217.71822.30619.181
Gældsforpligtelser3.562.478776.4132.217.71822.30619.181
Forpligtelser3.562.478776.4132.217.71822.30619.181
Passiver48.787.55918.889.82013.879.575566.82155.400
Passiver
19.05.2024
Nøgletal
19.05.2024
Årsrapport
2023
19.05.2024
2022
13.06.2023
2021
17.05.2022
2020
26.03.2021
2019
22.04.2020
Afkastningsgrad -8,7 %-9,5 %Na.Na.Na.
Dækningsgrad Na.Na.Na.Na.Na.
Resultatgrad Na.Na.Na.Na.Na.
Varelagerets omsætningshastighed Na.Na.Na.Na.Na.
Egenkapitals-forretning -8,4 %-8,5 %-2,6 %-3,5 %-38,0 %
Payout-ratio Na.Na.Na.Na.Na.
Gældsdæknings-nøgletal Na.Na.Na.Na.Na.
Soliditestgrad 92,7 %95,9 %84,0 %96,1 %65,4 %
Likviditetsgrad 709,1 %806,8 %136,4 %1.399,8 %288,8 %
Resultat
19.05.2024
Gæld
19.05.2024
Årsrapport
19.05.2024
Nyeste:01.01.2023- 31.12.2023(offentliggjort: 19.05.2024)
Information om virksomhedens regnskabsklasse:This annual report has been presented in accordance with the provisions of the Danish Financial Statements Act governing reporting class B enterprises with addition of a few provisions for reporting class C. The accounting policies applied to these financial statements are consistent with those applied last year.
Oplysning om pantsætninger og sikkerhedsstillelser:10 Assets charged and collateralThe Company guarantees for a limited period the fulfillment of obligations under incoming land lease agreements for use in developing solar energy projects in Denmark by subsidiaries (project development companies).
Beretning
19.05.2024
Dato for ledelsens godkendelse af årsrapporten:2024-05-01
Statement by Management on the annual report
Identifikation af den godkendte årsrapport:The Board of Directors and the Executive Board have today considered and approved the annual report of St. Jørgen Holding ApS for the financial year 01. 01. 2023 - 31. 12. 2023.
Management's review
Beskrivelse af virksomhedens væsentligste aktiviteter:Primary activitiesThe company, which is a holding company, carries on its activities through its subsidiaries. The company’s main business is within development of renewable energy projects, with a particular focus on solar PV projects, onshore wind projects, energy storage projects and P-t-X projects. Additionally, the company has limited activity within investment in real estate, including in property development projects, predominantly when related to renewable energy projects. Renewable energy The company started development of renewable energy projects in 2021. Agreements have been entered with numerous landowners in Denmark for the establishment of the large-scale industrial solar energy projects, some of around 600 ha each being among the largest solar projects in Europe. During 2023 the company further developed some of the projects to become combined solar, wind and storage projects, i. e. integrated hybrid projects. By end 2023 the company had contracted projects and pipeline projects for large scale solar, onshore wind power and storage projects in Denmark covering approx. 3. 500 ha with a potential total combined capacity of approx. 4 GW. An additional pipeline of identified leads amounting to more than 6. 000 ha in Denmark with a potential total combined capacity of more than 8 GW is being pursued as of the balance sheet date. The company thus expects to further increase the pipeline of renewable energy projects in 2024. Finally, the Company has accelerated its activities in developing a European project pipeline of potential projects outside Denmark. The development of the current project pipeline, including local planning processes and grid connection processes, continues as planned. Importantly the combined 500 MW solar PV and energy storage project in Gl. Vrå in Ålborg Municipality went through its first public planning hearing in the autumn of 2023, and the planning process will continue throughout 2024, with an expectation of final permitting by the end of 2025. In parallel the 500 MW solar PV and energy storage project in Brøndum Kær in Vesthimmerland Municipality was selected as one out of five projects to go into the municipal planning process. Final grid connection agreements have been signed and security submitted with the Danish TSO, Energinet, for both of the abovementioned industrial scale projects. In parallel with the development of the company's projects and project pipeline, the company has further expanded and strengthened the project development organization with the objective of ensuring that the company has the necessary critical resources in-house, while more specialized services are procured from external specialists. By the end of 2023 the company’ organization included around 25 people. The organization is expected to increase further during 2024, as the current project portfolio progresses, and the project pipeline is further expanded. Real estate The company also has some limited activities in real estate, including property development projects. In 2021 the company acquired two building sites in Denmark and the Farø Islands respectively and has made certain investments into further early-stage development of the projects, including conceptual design, planning/permitting and selection of contractors. The development of the property development projects progresses, and preparatory works are expected to commence in the Farø Islands during 2024, in order for the first phase of the project to commence construction in 2025. Management The company is managed by a Board of Directors with 4 directors and an Executive Board of 1 member, with competences within project development, renewable energy, financing, law, recruitment and stakeholder management. Risk management General risk St. Jørgen Holding's business involves several types of risk, including risks related to the general economic development in Denmark, as the company's main focus is on developing renewable energy projects and real estate projects in Denmark. This exposes the Group to fluctuations in the Danish economy. St. Jørgen Holding aims to adapt to market development and is continuously working to reduce the company's risks. Project Development risks St. Jørgen Holding’s development of both renewable energy projects and real estate projects depends to a large extent on the achievement of the necessary regulatory approvals, including in particular the approval by municipal boards of planning for the intended projects. St. Jørgen Holding works continuously on assessing the risks associated with each project, including risks that may affect the achievement of the necessary regulatory approvals. This is done, inter alia, by thorough screening of possible constraints related to the areas included in the projects, and by maintaining a close dialogue with the relevant authorities, and in particular an early and ongoing dialogue with neighbors to the projects and with other stakeholders that may be affected by the projects. Furthermore, the realization of renewable energy projects depends to a very large extent on securing of grid connection. St. Jørgen Holding normally initiates a dialogue with the grid system operator as early as possible in the project development phase in order to identify any challenges with the grid connection, and in order to ensure the most efficient grid connection process possible. As a main rule, construction of projects will not be initiated unless the project has either secured or received strong indications that the project will get grid connection on feasible terms. As a main rule, St. Jørgen Holding døs not invest in real estate in connection with the development of renewable energy projects, except where neighbors are entitled under Danish Law to exercise the right to request the project company to acquire their property located in close proximity to the project, or where such investment has a strategic relevance to the renewable energy projects in the same area. In general St. Jørgen Holding will aspire to have a positive and constructive dialog with the neighbors to the projects and will normally offer voluntary agreements to compensate the owners or to purchase the residential properties of the affected neighbors, subject however to the individual projects obtaining the necessary regulatory approvals etc. for the realization of the project. Financial risks Through operations, investments and financing, St. Jørgen Holding may be affected by changes in market rates and interest rate levels. St. Jørgen Holding has established measures to properly manage the financial risks assumed by the Group. Currency risks St. Jørgen Holding carries out its activities in Denmark and the Farø Islands and most of the expenses are denominated in Danish kroner. Once the company commences construction of some of the company's projects, some of the cost of procurement of components and materials may be denominated in other currencies, such as Euro and US dollars. The company will, when considered necessary, take the necessary steps considered to appropriately protect the company against exchange rate risks. Interest rate risk St. Jørgen Holding has no interest-bearing debt. Changes in the level of interest rates thus do not directly affect the company's operations. However, the general development of interest rates on the financial markets has an impact on the profitability of the company's projects. Therefore, St. Jørgen Holding continuously monitors the development of interest rates and makes ongoing assessments of the fi nancial viability of the individual projects in order to be able to react in relation to possible increased exposure. Once the company will initiate construction of its projects, the company will have to secure additional equity and debt financing. In this connection, the company will carefully consider interest rate risks related to the company's debt, including assessment of the need for loans with fixed-interest rates and hedging instruments in order to protect against interest-rate fl uctuations. Credit risk St. Jørgen Holding døs not have significant risks related to individual customers or partners. St. Jørgen Holding continuously monitors liquidity tied with customers and partners. St. Jørgen Holding places its free liquidity in well-managed Danish banks with a solid reputation. Compliance The company's compliance with current rules has a high priority, and we continuously invest in the recruitment and development of the necessary resources to ensure compliance.