Salg & Service

Annual report 2022

Adopted at the Annual General Meeting on 26 June 2023

Jeppe Skov Andersen

Chairman of the meeting

Ørsted Salg & Service A/S, CVR No. 27210538 For the period 1/1 2022 to 31/12 2022 Ørsted Salg & Service A/S, Skærbæk Kraftsværksvej 53, 7000 Fredericia

Overview

Contents

Overview

Company information � � � � � � � � � � � � � � � � � � � � � � � � � � 4 Performance highlights� � � � � � � � � � � � � � � � � � � � � � � � � � 5 Statement by the Executive Board and the

Board of Directors � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 6 Independent auditor's report � � � � � � � � � � � � � � � � � � � � � 7 Management's review � � � � � � � � � � � � � � � � � � � � � � � � � � 9

Financial statements

Statement of comprehensive income � � � � � � � � � � � � � � � 14 Balance sheet � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � 15 Statement of shareholder's equity � � � � � � � � � � � � � � � � � 16 Statement of cash flows � � � � � � � � � � � � � � � � � � � � � � � � 17

Notes

Index of notes

1

Basis of reporting � � � � � � � � � � � � � � � � � � � � � � � � �

19

17

Deferred tax � � � � � � � � � � � � � � � � � � � � � � � � � � � �

32

2

Revenue � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �

21

18

Derivatives � � � � � � � � � � � � � � � � � � � � � � � � � � � � �

34

3

Cost of sales � � � � � � � � � � � � � � � � � � � � � � � � � � � �

22

19

Maturity analysis of financial liabilities � � � � � � � � � �

39

4

Other external expenses � � � � � � � � � � � � � � � � � � � �

22

20

Trade receivables � � � � � � � � � � � � � � � � � � � � � � � � �

40

5

Employee costs � � � � � � � � � � � � � � � � � � � � � � � � � �

23

21

Other receivables and other payables � � � � � � � � � � �

41

6

Share-based payment � � � � � � � � � � � � � � � � � � � � � �

23

22

Income tax receivable, and payable � � � � � � � � � � � �

42

7

Other operating expenses � � � � � � � � � � � � � � � � � � �

24

23

Cash, cash equivalents, and securities � � � � � � � � � � �

42

8

Auditor's fees � � � � � � � � � � � � � � � � � � � � � � � � � � � �

24

24

Equity � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �

43

9

Financial income � � � � � � � � � � � � � � � � � � � � � � � � � �

24

25

Provisions � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �

44

10

Financial expenses � � � � � � � � � � � � � � � � � � � � � � � �

24

26

Contract liabilities� � � � � � � � � � � � � � � � � � � � � � � � �

45

11

Tax on profit (loss) for the year � � � � � � � � � � � � � � � �

25

27

Change in working capital � � � � � � � � � � � � � � � � � � �

45

12

Discontinued operations � � � � � � � � � � � � � � � � � � � �

26

28

Financial risks and risk management � � � � � � � � � � � �

46

13

Intangible assets � � � � � � � � � � � � � � � � � � � � � � � � �

27

29

Contingent liabilities and other liabilities � � � � � � � � �

49

14

Property, plant, and equipment � � � � � � � � � � � � � � �

29

30

Related-party transactions � � � � � � � � � � � � � � � � � �

50

15

Investments in subsidiaries � � � � � � � � � � � � � � � � � � �

31

31

Calculation of financial ratios � � � � � � � � � � � � � � � � �

51

16

Inventories � � � � � � � � � � � � � � � � � � � � � � � � � � � � �

32

2    Ørsted Salg & Service Annual report 2022

Overview

  1. Company information
  2. Performance highlights
  3. Statement by the Executive Board and the Board of Directors
  4. Independent auditor's report

9 Management's review

3    Ørsted Salg & Service Annual report 2022

Overview

Company information

Company information

Company

Ørsted Salg & Service A/S

Kraftværksvej 53

Skærbæk

7000 Fredericia

Denmark

Telephone: +45 99 55 11 11

Email: orsted@orsted.dk

Company registration number: 27210538

Shareholder

The entire share capital is held by Ørsted A/S

Board of Directors

Daniel Lerup (Chairman)

Anja Forup (Deputy Chairman)

Heidi Lohse

Executive Board

Rune Sonne Bundgaard-Jørgensen

Auditor

PricewaterhouseCoopers, Statsautoriseret Revisionspartnerselskab

Consolidated financial

The company is reflected in the group report as the parent company

statements

Ørsted A/S, Fredericia, CVR no. 36 21 37 28

The group report of Ørsted A/S, Fredericia, CVR no. 36 21 37 28 can be

obtained at the following address:

www.orsted.com/en/investors/ir-material/financial-reports-and-presentations

Annual general meeting

26 June 2023

4    Ørsted Salg & Service Annual report 2022

Overview

Performance highlights

Performance highlights

DKKm

2022

2021

2020

2019

2018

Statement of comprehensive income

Revenue

93,611

45,785

20,519

31,201

38,840

Operating profit (loss) before depreciation and amortisation (EBITDA)

516

79

(169)

2,004

527

Operating profit (loss) (EBIT)

419

(893)

(280)

1,618

446

Net financial income and expenses

(326)

146

(152)

(81)

(96)

Profit (loss) before tax

96

(748)

(432)

1,536

342

Profit (loss) for the year

67

(267)

(638)

694

(134)

Balance sheet

Equity

19,212

5,903

9,348

10,067

9,380

Assets

88,296

69,215

21,007

26,345

27,953

Cash flows

Operating activities

(7,067)

(10,682)

2,324

(359)

1,643

Investments in property, plant, and equipment

-

-

-

(9)

(5)

Other investing activities

(1)

(45)

(3)

-

(396)

Financing activities

8,120

11,474

(79)

(78)

-

Financial ratios

EBITDA margin

1 %

0 %

(1 %)

6 %

1 %

EBIT margin (profit margin)

0 %

(2 %)

(1 %)

5 %

1 %

Net interest-bearing debt

(4,513)

3,428

(7,955)

(7,546)

(8,611)

Capital employed

(14,537)

9,455

2,137

3,623

821

Average number of employees

269

256

267

295

109

Financial ratios have been calculated in accordance with 'Recommendations & Ratios' published by the Danish Society of Financial Analysts. For definitions, see the accounting policies section.

5    Ørsted Salg & Service Annual report 2022

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Ørsted A/S published this content on 21 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 July 2023 12:24:08 UTC.