Annual Report for Harboes Bryggeri A/S

Core Insights - The company has made significant progress on strategic priorities despite not meeting initial financial expectations for the year [3][5] - The company anticipates EBITDA for 2025/26 to be in the range of mDKK 130-160 and profit before tax between mDKK 30-60 [2] - The decision to opt out of unprofitable private label contracts in Germany is expected to negatively impact short-term volume but will enhance overall profit margins [4] Financial Performance - Net revenue for 2024/25 was mDKK 1,823, consistent with the previous year [8] - EBITDA for 2024/25 decreased to mDKK 142 from mDKK 158, primarily due to increased costs in sales, distribution, and production, resulting in an EBITDA margin of 7.8% [8] - Profit before tax was mDKK 56, aligning with the company's expectations of mDKK 50-60 [8] - The net result after tax was a profit of mDKK 47 million, with positive cash flow from operations at mDKK 86 [8] Strategic Initiatives - The company is focused on enhancing efficiency and competitiveness through various strategic projects aimed at supporting expected sales growth [5] - The management team is recognized for their efforts in driving strategic priorities, with a notable mention of the CPO, Vibeke Harboe Malling, who will transition to the Board of Directors [6][7] - The Board of Directors plans to propose a dividend of DKK 2.00 per share for the financial year 2024/25 at the upcoming Annual General Meeting [8]