Chr. Olesen Nutrition A/S

Ledelsesberetning

Key activities Chr. Olesen Nutrition A/S is a part of the Chr. Olesen Group.Chr. Olesen Group was established in 1885 and is now represented by the 4th and 5th generation. The Company has grown to a multinational group during the 4th generation.Chr. Olesen Group is operating within international distribution of ingredients and additives for animal feed (FEED), ingredients and additives for human use (FOOD) and pharmaceutical products (PHARMA) for humans and for animals (ACTIVET) and, from 2023, also with ingredients for the technical industry – including minerals (INDUSTRIAL).Along with the trading of products (purchase and sale), the Chr. Olesen Group is highly specialised in the services required to deliver the products – ie shipping, inventory management, financing, insurance, bookkeeping and quality management.Chr. Olesen Nutrition A/S is a subsidiary within the Chr. Olesen Group. The company covers distribution of Food ingredients to Europe. The company has no direct employees, but is part of the costs in Chr. Olesen A/S. Development in the year The income statement of the Company for 2022/23 shows a profit of EUR 4,107,575, and at 30 September 2023 the balance sheet of the Company shows positive equity of EUR 18,576,161. The past year and follow-up on development expectations from last year Revenue for the year is above expected levels. The company have experienced progress in relation to expectationsManagement considers the results to be satisfactory. Capital resources The credit facilities of the Chr. Olesen Group are renegotiated every year in January/February. Credit facilities for the Chr. Olesen Group are expected to be negotiated to the same level as last year. Foreign exchange risks Significant parts of the Group’s transactions take place in foreign currencies. As an element in the Group’s business strategy, Management has determined that day-to-day foreign currency exposures should be hedged by entering into forward exchange contracts, periodical borrowing or placement of funds in foreign currencies. Moreover, currency options are also used for hedging purposes. Targets and expectations for the year ahead Chr. Olesen Group will continue the strategy of growing and consolidating all of its companies - including developing Chr. Olesen Nutrition A/S in the long-term perspective.In the coming year, same as last year, special emphasis will be placed on further upgrading of the the organisation's communication about safety (safety culture).Management expects a financial year with revenue equivalent compared to last year despite intensifying competition. Subsequent events No events materially affecting the assessment of the Annual Report have occurred after the balance sheet date.