Anicura Aps

Ledelsesberetning

Key activitiesThe Group's primary activity is, directly or indirectly, to operate a business providing qualified animal care, to sell products and services related to animal care, to provide services to other companies within the AniCura Group primarily concerning administration, management, and marketing, as well as to engage in other business activities related thereto.Developments in operations and financial positionThe Group's income statement for 2023 shows a loss of TDKK 25,496, and the Group's balance sheet as of December 31, 2023, shows equity of TDKK 229,784.This year has not been in line with expectations as we anticipated revenue growth which did not materialize at the expected level. Due to fluctuations in the market which have changed the behavior of the costumers. The lower revenue has been offset by cost management across the profit and loss.We still believe in investing in our associates and increase the level of competences to increase the level of veterinary care for pets and the people who loves them, will generate a reliable organic growth.AniCura ApS merged with its subsidiaries AniCura Københavns Dyrehospital ApS and AniCura KBH Dyrehospital Komplementarselskab ApS on 4 and 5 December 2023, with AniCura ApS as the continuing company.The mergers were conducted to simplify the Group’s administration and improve the efficiency of our processes.The mergers had no impact on the daily operations or employees, and the number of employees remained unchanged after the merger.The accounting treatment of the mergers is described in note 1.Special risks - operating risks and financial risksThe Group is exposed to financial risk relating to foreign currency. The risk is relating to the increase collaboration between Denmark and Norway and sales and purchases in EUR and SEK in addition. The risk is there for limited and is not hedged; However, Management assesses the exposure on a continuous basis.The Group is not exposed from other financial or commercial risks, which is uncommon for the industry.Intangible key resourcesThe employees constitute a very important asset for the Group. The Group operates in a very competitive market and great emphasis is placed on recruiting and retaining the best employees.Focus is on the continued development and training of the employees via ongoing feedback on performance and by offering relevant education to the employees.Targets and expectations for the year aheadIn 2024 net sales are expected to grow as planned with 6.0%. Obviously, the business context remains volatile, especially when it comes to our inflation and the aim is to remain in good control of expenses. The expectation for 2024 is to improve net profit/loss in the range of DKK 0 to 25 million compared to 2023.Subsequent eventsNo events materially affecting the assessment of the Annual Report have occurred after the balance sheet date.