Chr. Olesen Nutrition A/S

Ledelsesberetning

Key activities Chr. Olesen Nutrition A/S is a part of the Chr. Olesen Group.The Chr. Olesen Group was originally established in 1885 and today is represented by both the 4th and 5th generations. Since 1992, the company has grown into an international group of companies with entities in Denmark, Germany, Spain, Belgium, France, USA, Brazil and Mexico.Chr. Olesen Group operates within international distribution of ingredients and additives for animal feed (FEED), ingredients and additives for human use (FOOD), with distribution of pharmaceutical ingredients (PHARMA) for both humans and animals (ACTIVET) and, from 2023, also with ingredients for the technical industry – including minerals (INDUSTRIAL).Along with the actual trading of the products (buying and selling), Chr. Olesen Group is highly specialized in the service required to be able to deliver the products – i.e. shipping, warehouse management, financing, insurance, bookkeeping and quality management.The Group has 90 employees at the end of the financial year. Of these, 53 are employed at the headquarters in Denmark and the rest work in the entities outside Denmark.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 2023/24 shows a profit of EUR 5,045,218, and at 30 September 2024 the balance sheet of the Company shows a positive equity of EUR 21,684,032. The past year and follow-up on development expectations from last year Revenue has decreased but the company has managed to increase the margins in the year. The management is satisfied with the result. The market prices and market structures are as always volatile, but we have compensated this with our well implemented and professional commercial processes.In this financial year, the Group has consolidated the previous years of investments in human equity, new regions and the Industrial business area.The Company continuously works with further development of both the business and the Company's processes, including a solid ambition to be an ambitiously executing workplace.It is continuously a great benefit for the business and its history to have the 5th generation as a more and more integrated part of the Company's management. Capital resources The credit facilities of the Chr. Olesen Group are renegotiated every year in January/February. Credit facilities of the same level are expected to be negotiated as last year. Special risks - operating risks and financial risks A significant part of the Group’s transactions take place in foreign currencies. As an element in the Group’s business strategy, the 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 The Chr. Olesen Group will continue the strategy of growing and consolidating to develop the business in the long-term perspective.In the coming year, special emphasis will be placed in entering into new regions and product lines including investments also in the digital systems and processes. Also, investments in developing the compliant reporting on CSRD will be started up in 2025. Although the need of consolidating the new investments in the coming years, the Chr. Olesen Group will remain positive towards investments in new relevant areas to further broaden its activities.Management expects revenue for the upcoming year of 2025 to be on par with this year with the group as a whole. Uncertainty relating to recognition and measurement There has been no uncertainty regarding recognition and measurement in the Annual Report. Unusual events The financial position at 30 September 2024 of the Company and the results of the activities of the Company for the financial year for 2023/24 have not been affected by any unusual events. Subsequent events No events materially affecting the assessment of the Annual Report have occurred after the balance sheet date.