Gtt Communications Denmark Aps

Ledelsesberetning

Seen over a 5-year period, the development of the Company may be described by means of the following financial highlights:2023 2022 2021 2020 2019TEUR TEUR TEUR TEUR TEURKey figuresProfit/lossGross profit/loss 2,217 2,177 3,609 6,374 3,038 Profit/loss of ordinary 250 332 1,739 1,833 -357 primary operationsProfit/loss of financial 389 1,047 55 -129 197 income and expensesNet profit/loss 459 1,516 1,229 1,411 -160 Balance sheetBalance sheet total 32,370 19,365 18,470 9,062 13,086 Investment in property, 412 53 56 — 354 plant and equipmentEquity 2,420 1,665 149 -1,080 -2,491 Cash FlowsCash flow from: - operating activities 182 1,781 -236 6,315 -4,510 - investing activities -412 11 1,390 -192 -359 - financing activities -65 -2,927 1,789 -5,900 4,963 Changes in cash and cash -296 -1,135 2,943 222 94 equivalents for the yearNumber of employees 13 13 — 21 20 RatiosReturn on assets 0.8 % 1.7 % 9.4 % 20.2 % -2.7 %Solvency ratio 7.5 % 8.6 % 0.8 % -11.9 % -19.0 %Return on equity 22.5 % 167.1 % -264.0 % -79.0 % 6.4 %Development in the yearThe income statement of the Company for 2023 shows a profit of EUR 459,044, and at 31 December 2023 the balance sheet of the Company shows positive equity of EUR 2,419,667. The past year and follow-up on development expectations from last yearThe Company's ordinary results are not deemed satisfactory as they were not in line with our expectations for 2023, which was a profit before tax in the range of EUR 1.5 mio to EUR 2.5 mio. The Company did not reach these targets due to decrease in revenue and higher financial expenses arising from penalties and foreign exchange losses. Targets and expectations for the year aheadDemand for our products is stable and GTT Communications Denmark enters 2024 with the expectation that demand will continue. As a result, the result for 2024 is expected to continue a positive development. We still expect high energy prices mainly caused by the conflict in Ukraine, Russia and Israel. The management assesses the company's development positive. We expect both revenue and profit to increase in 2024.The Company expects a positive development in 2024 with an increase in profit. The Company expects profit before tax in the range of EUR 1 mio to EUR 1.5 mio.External environmentWe continuously contribute to sustainable solutions by taking care of and protecting the environment through both customers and suppliers. We work to improve the proportion of environmentally correct materials that emit as little CO2 as possible during procurement and by following a sustainable waste management process.Uncertainty relating to recognition and measurementWe refer to note 1.Unusual eventsNo unusual events noted. Subsequent eventsWe refer to note 13.

Beskrivelse af virksomhedens væsentligste aktiviteter

Key activitiesThe object of the Company is to provide consultancy on and deliver solutions on Internet technology as well as related activities.