Dato for ledelsens godkendelse af årsrapporten:2024-05-30
Beskrivelse af usikkerhed ved indregning eller måling:Uncertainty relating to recognition and measurementThere is uncertainty relating to the recognition and measurement of the Groups contract work in progress, as the
recognition and measurement is based on an accounting estimate.
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 Init Group ApS for the financial year 01. 01. 2023 - 31. 12. 2023.
Management's review
Beskrivelse af virksomhedens væsentligste aktiviteter:Primary activitiesInit Group was founded in January 2022. The purpose was to establish a pan-Nordic group within industrial IT and automation through organic growth and acquisitions . The group has made several acquisitions during 2023 and by the end of the year comprised 14 companies with activity across Denmark, Sweden, Norway, Serbia, Spain and North Macedonia.
Init’s almost 650 employees work together to deliver industrial IT and automation services to customers across nine different business areas:
• Aqua & Agriculture
• Building
• Energy
• Food & Beverage
• Infrastructure
• Life Science
• Manufacturing
• Marine & Offshore
• Utility
Our goal is to help our customers overcome increasing complexity through tailored, intelligent automation solutions that improve operations today for greater impact tomorrow.
Business model
We are committed to providing high quality services and innovative solutions to our customers, while striving to minimise our environmental footprint and being a responsible employer and corporate citizen.
We believe that the best way to do this is by uniting companies within industrial IT and Automation, companies that put people first and prioritise sustainability for the greater good of our employees, our customers and society
.
Our Way is people first
Our Way is a set of value-based principles that guide the way we interact with each other and with our customers, and thus forms the very foundation of our business.
Our Way creates a connection between the way we behave as individuals, and the solutions we deliver.
Our Way is rooted in a ‘people first’ philosophy which recognises that, even in a technological industry, the relationships we create and nurture with one another lay at the heart of everything we do.
Corporate governance structure
Init Group’s corporate governance model is a two-tier system whereby the Board of Directors and Executive Management have two different roles laid down in the Rules of Procedure for the Board of Directors and Executive Management. Executive Management undertakes the operational management of Init, whereas the Board of Directors determines the overall company strategy and acts as a sounding board to Executive Management.
Management is on an ongoing basis monitoring the financial development as well as developments in the field of corporate governance to ensure that the Group – internally as well as externally – is managed in a manner that is in accordance with applicable laws, to protect the interests of all stakeholders.
Risk management is considered an essential and natural part of the realisation of Init’s objectives and strategy. The daily activities, the implementation of the established strategy and the continuous use of business opportunities involve inherent risks, and our handling of these risks is therefore seen as a natural and integrated part of the daily work and a way to ensure stable and reliable growth.
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