annual review 2018€¦ · unique landmarks at our design studios in denmark, czech republic, and...

30
ANNUAL REVIEW 2018

Upload: others

Post on 10-Jul-2020

0 views

Category:

Documents


0 download

TRANSCRIPT

Page 1: ANNUAL REVIEW 2018€¦ · unique landmarks at our Design Studios in Denmark, Czech Republic, and Germany. We manufacture all products ourselves within our state-of-the-art manufacturing

ANNUAL REVIEW 2018

Page 2: ANNUAL REVIEW 2018€¦ · unique landmarks at our Design Studios in Denmark, Czech Republic, and Germany. We manufacture all products ourselves within our state-of-the-art manufacturing

KOMPAN Country Office

KOMPAN Manufacturing

KOMPAN Design Studio

WHO WE AREThe global leader in outdoor play and fitness

KOMPAN was established in 1970. Today, half a century later,

we are the global leader in outdoor play and fitness facilities. 

We have achieved this position by being the innovation leader and constantly inventing new ways to play. We have invented:

• the springer concept,

• the colourful playhouse,

• 3-dimensional rope structures,

• 360 degree play,

• the modern playground based on free play, including the

Supernova

• reinvented wood and nature play as well as thematic play

based on play value, and

• outdoor fitness with adjustable resistance

We develop our products on a user centric research driven basis. Kompan Play Institute and Kompan Fitness Institute,

respectively, study child development and play for all ages and

competence levels, as well as physiology and exercise that

impacts in order to attract and motivate. We develop the user’s:

• physical skills, including health and wellbeing

• cognitive skills,

• creative skills, and

• social skills,

while including everybody regardless of physical or mental

abilities.

We tailor the playground and fitness site to the user’s needs

without bias towards style, material, play or exercise approach,

etc., since we have the full range and the widest assortment of

2 WWW.KOMPAN.COM

Page 3: ANNUAL REVIEW 2018€¦ · unique landmarks at our Design Studios in Denmark, Czech Republic, and Germany. We manufacture all products ourselves within our state-of-the-art manufacturing

WHO WE AREThe global leader in outdoor play and fitness

play and fitness products in the industry. By using our own design

programs and solution visualization tools, we work together with

our customers from concept to completion.

If desired, we also go the extra mile of designing and making

unique landmarks at our Design Studios in Denmark, Czech

Republic, and Germany.

We manufacture all products ourselves within our state-of-the-art

manufacturing facilities, ensuring:

• quality that is built to last and can stand the test of time

• safety that is never compromised

• environmentally conscientious manufacturing using recycled

and recyclable materials

We secure delivery and installation on time through our own

installation teams and installation partners, supported by friendly

customer service, who are always available.

We design, manufacture, and install more than 1,000 playground or fitness sites every month somewhere across 90 countries – of

which 30 countries through our own operation and in 60 countries

through carefully selected quality agents and partners.

Having family ownership of KOMPAN in a partnership with our top 60 managers enables us to make the best possible long-term

decisions for our users, customers, partners, and employees in

order to develop and support the communities we serve.

WWW.KOMPAN.COM 3

Page 4: ANNUAL REVIEW 2018€¦ · unique landmarks at our Design Studios in Denmark, Czech Republic, and Germany. We manufacture all products ourselves within our state-of-the-art manufacturing

OUR PURPOSETo provide the heart of a healthy and happy community

A healthy community needs a healthy heart. That heart can

be the playground and sport & fitness site creating a social

community, a focal point for meeting, developing, playing. It is

where strangers become playmates and playmates become

friends. It is where adults start conversations which become life-

long bonds. It is where neighbourhoods are defined and cities

established. Playgrounds and sport & fitness sites bring people

together without the boundaries of creed, culture or age.

LOCAL TRUST AND LOVE The playground and sport & fitness site is a place where embar-

rassment, fear and unease should melt away in an atmosphere

of local trust and love. It is where we put down our electronic

toys to become engrossed in activities that require physical com-

mitment and peer-to-peer communication, and in doing so ac-

quire skills that will support us for the rest of our lives. In the fresh

air, both adults of all ages and children are 100% recharged.

At KOMPAN we value concepts that are universal in design and

purpose, it is our starting point regardless of whether it is for a

six-year-old rocking on a Crazy Hen, or a sixty-year-old working-

out on a Cross Trainer. Playgrounds and sport & fitness spaces

are central to the well-being of the community, and when they

are combined – side-by-side, children playing while adults,

young and old, strive for a new level of personal fitness. It is a

healthy life in full circle.

ACCESS IS FOR ALL The playgrounds and sport and fitness spaces should be the

centre of a broad community. There are no ‘exclusive zones’ that

might isolate or stigmatise. Access is for all. Each playground

and sport & fitness space mirrors the needs of those who use it,

whether it is to play, to exercise or just sit and bond with friends

or strangers, or watch the next generation evolve.

That is the KOMPAN view of the perfect way to build a commu-

nity, healthy in body and mind. A community enjoying a bright

today with a brighter tomorrow on the horizon.

CONTENT

2018 Highlights ......................................................6

Key figures and financial ratios for the Group ........................................................7

Innovation .........................................................8-19

Environmental, social, and governance ......20-22

ACCOUNTS

Income statement ...............................................24

Balance sheet .....................................................27

Addresses............................................................29

4 WWW.KOMPAN.COM

Page 5: ANNUAL REVIEW 2018€¦ · unique landmarks at our Design Studios in Denmark, Czech Republic, and Germany. We manufacture all products ourselves within our state-of-the-art manufacturing

OUR PURPOSETo provide the heart of a healthy and happy community

WWW.KOMPAN.COM 5

Page 6: ANNUAL REVIEW 2018€¦ · unique landmarks at our Design Studios in Denmark, Czech Republic, and Germany. We manufacture all products ourselves within our state-of-the-art manufacturing

2018 HIGHLIGHTS

OPERATIONAL HIGHLIGHTS

KOMPAN added innovation to the joy of spinning with the

launch of new dynamic carousels, Sky and Tipi. Attracting

teenage users and providing for children with disabilities.

Apart from being great fun, the spinners help children

practice and improve their sense of balance, as well as their

muscles and bone density.

KOMPAN presented new portal swings with unlimited flex-

ibility and modularity as a modern update on a traditional

favourite, constructed from galvanised steel. Thrill is the

main motivator of physical play, and swings are truly thrilling.

Additionally, swinging trains the child’s vestibular system, in

coordination and sense of balance.

KOMPAN Sport & Fitness added Multi Use Games Areas

(MUGA) - designed as flexible systems to fit any environment

and purpose. Ball sports have throughout time fascinated,

and still do. With the right area and surroundings, people

can be active, have fun together and combine play, sport

and fitness for all ages with social interaction.

KOMPAN continues to expand the portfolio of Corocord

products. The Tree Top Walk is quite the eye-catcher - and

packed with challenging play activities. It simply draws atten-

tion from everyone around it – both children and adults. The

facades in genuine Robinia wood give the structure a gentle

look of nature, allowing it to either blend in to natural envi-

ronments or stand out in urban areas.

KOMPAN’s new You & Me Swing Seat invites adults and

children to experience the fun of swinging together. Eye to

eye. Hand to hand. It is especially good for children with dis-

abilities who need extra support and emotional closeness to

engage in swinging.

KOMPAN expanded the outdoor furnishing assortment with

the launch of a new and modular series of benches in the

elegant RUMBA design, made of hot-dip galvanized steel

and Sibirian larch.

FINANCIAL HIGHLIGHTS

Revenue grew by 15.9% to a new record of DKK 1,935m.

EBITDA before special items was DKK 241 million (178m) and

the EBITDA margin was 12.4% (10.6%) – the best ever result in

KOMPAN history. Earnings were still impacted by investments

in product development and investments in our sales and

distribution network, as expected.

Cash flow from operations grew and increased from DKK

158m to DKK 169m driven by higher earnings.

2019 OUTLOOK

KOMPAN will continue the multi-year strategy of increased

investments in product innovation and investments in our

sales and distribution network, including our partners.

In 2019, KOMPAN expects topline growth and earnings in line

with or improved from 2018, although still impacted by the

high level of investments.

In 2018, KOMPAN continued the multi-year strategy of substantial investments in product innovation and in expanding our sales and distribution network, that started in 2015. The Group increased revenues by 16% and achieved its best-ever earnings.

6 WWW.KOMPAN.COM

Page 7: ANNUAL REVIEW 2018€¦ · unique landmarks at our Design Studios in Denmark, Czech Republic, and Germany. We manufacture all products ourselves within our state-of-the-art manufacturing

DKK million 2014 2015 2016 2017 2018 Income statement Revenue 1,354.4 1,418.6 1,504.4 1,670.2 1,935.0

EBITDA1) 209.6 148.1 160.8 177.5 240.6

Normalised profit for the year 2) 104.5 56.9 67.4 81.5 127.2Restructuring costs etc.3) -17.9 -13.9 -7.0 -38.6 -15.7

Profit for the year 82.0 33.0 57.9 24.3 97.2

Balance sheet items Total assets 1,885.7 1,939.2 1,949.8 1,897.3 2,023.9

Equity 454.5 515.3 636.9 630.9 725.2

Financial ratios EBITDA1) margin 15.5% 10.4% 10.7% 10.6% 12.4%

Normalised return on equity 17.6% 11.7% 11.7% 12.9% 18.8%

Average number of employees 780 892 1,026 1,134 1,293

Revenue Annual growth

0%

2%

6%

10%

14%

16%

1,000

1,200

1,300

1,400

1,500

1,600

1,700

1,800

2014 2015 2016 2017 2018

DKKm

1,900

1,100

2,000

4%

8%

12%

EBITDA EBITDA margin

0%

2%

4%

6%

8%

10%

12%

14%

16%

0

50

100

150

200

250

300

2014 2015 2016 2017 2018

DKKm

1) EBITDA is presented before restructuring costs, etc. and other operating income.

2) Calculated as normalised profit for the year adjusted for foreign currency adjustments, amortisation of acquired intangible assets, restructuring costs, etc., and other operating income.

3) Restructuring costs etc. relates to items which by their nature are not considered part of ordinary activities, such as costs associated with reloca-tion of production units, restructuring of businesses, transaction costs associated with acquisitions of businesses etc.

KEY FIGURES AND FINANCIAL RATIOS FOR THE GROUP

Revenue and Annual Growth EBITDA1) and EBITDA Margin

WWW.KOMPAN.COM 7

Page 8: ANNUAL REVIEW 2018€¦ · unique landmarks at our Design Studios in Denmark, Czech Republic, and Germany. We manufacture all products ourselves within our state-of-the-art manufacturing

ELEMENTS™ TOTS & GROW contain

responsive, agile and exploratory play so-

lutions that shape a safe, active and 360°

scaffolding play universe for the youngest.

The structures gently push the children to

expand their horizon, be active and grow

new skills as they play. When growing

confidence in their motor skills, children

become resilient and self-confident, allow-

ing them to engage in social interaction

and play.

Children are inherently curious and mas-

ters of innovation, and the ELEMENTS™

GO series is designed to enhance that.

ELEMENTS™ GO offers play experiences

on the inside of the structure, and more

physically challenging adventures await on

the outside. The same structure therefore

provides progressing play opportunities

that follow the child’s development stage

and willingness to be challenged.

NEW ELEMENTS™Loaded with 360° play

The World Health Organization has truly set its eyes on children’s physical activity level and motor skills. Why? Research documents that physical activity is elementary for all other developmental areas of early childhood and that early-years development and learning

investments give the best ROI for society. KOMPAN takes on the responsibility for motivating and 360° scaffolding physical play and motor skills in children. For their well-being now – and for the future of our societies.

Play is not just for fun

INNOVATION

8 WWW.KOMPAN.COM

Page 9: ANNUAL REVIEW 2018€¦ · unique landmarks at our Design Studios in Denmark, Czech Republic, and Germany. We manufacture all products ourselves within our state-of-the-art manufacturing

ELEMENTS™ TOTS FOR TODDLERS

ELEMENTS™ GROW FOR SMALL CHILDREN

ELEMENTS™ GO FOR LARGE CHILDREN

WWW.KOMPAN.COM 9

Page 10: ANNUAL REVIEW 2018€¦ · unique landmarks at our Design Studios in Denmark, Czech Republic, and Germany. We manufacture all products ourselves within our state-of-the-art manufacturing

ROBINIA PLAY, ACT & LEARNAdding new play and learning

dimensions to nature playRobinia Play, Act & Learn is KOMPAN’s lat-

est innovation in toddler play. With a start-

ing point in toddler’s developmental needs,

these Robinia play items invite creative and

dramatic play explorations. The product

line draws on educational, sensory and

ground-based play activities that meet the

curriculum requirements for pre-school.

A play house packed with activities to en-

courage dramatic, social and sensory play.

This large structure is highly inclusive, al-

lowing many children to play together from

all sides and without conflicts. The small

pretend counter, mirror and watch, encour-

age dramatic play and social interaction.

They allow children to rehearse real-life

situations and practise their language

skills. The small drums and music panels

allow the children to explore sounds and

rhythms.

INNOVATION

10 WWW.KOMPAN.COM

Page 11: ANNUAL REVIEW 2018€¦ · unique landmarks at our Design Studios in Denmark, Czech Republic, and Germany. We manufacture all products ourselves within our state-of-the-art manufacturing

ROBINIA PLAY, ACT & LEARNAdding new play and learning

dimensions to nature play

PLAY & LEARNChildren can practice fine motor skills by drawing or maybe practice writing their first letter or word on the chalk board. The two-sided structure encour-ages children to play side by side and interact and learn from each other. Care-givers can use the chalk board as a teaching device and interact with the children as they play. The care-givers can model positive behavior and observe and guide play.

ACT & LEARN Acting on stage and being able to create their own imaginative play story are true stimulators of a child’s cognitive, creative, and social skills. Being on stage also trains the child’s ability to stand out in a group and understand themselves in relation to the story and the group.

DRAMATIC PLAYWhy is dramatic play so important?Dramatic play is children’s way to gain an understanding of the social rules and happenings in their surroundings. When playing through these occurren ces, toddlers put a voice to and familiarise themselves with the world. Dramatic play also helps develop socio-emotional, language and communication skills.

WWW.KOMPAN.COM 11

Page 12: ANNUAL REVIEW 2018€¦ · unique landmarks at our Design Studios in Denmark, Czech Republic, and Germany. We manufacture all products ourselves within our state-of-the-art manufacturing

Playing in a treehouse up in the biggest of

trees is something many of us remember

with joy from our childhood. That sacred,

no adults allowed play space and lookout

point kept us happy and playing for hours

on end. The Tree Top Walk offers just that

to today’s children!

The Tree Top Walk is quite the eye-catcher.

It simply draws attention from everyone

around it – both children and adults. The

facades in genuine Robinia wood give the

structure a gentle look of natural, allowing

it to either blend in to nature environments

or stand out in urban areas.

TREE TOP WALKPlaying in a treehouse

THE TREE TOP WALK is packed with challenging play activities. Children can climb the challenging squirrel’s trail up and get the amazing feeling of accomplishment when climbing to safety in the tree house.

INNOVATION

12 WWW.KOMPAN.COM

Page 13: ANNUAL REVIEW 2018€¦ · unique landmarks at our Design Studios in Denmark, Czech Republic, and Germany. We manufacture all products ourselves within our state-of-the-art manufacturing

WWW.KOMPAN.COM 13

Page 14: ANNUAL REVIEW 2018€¦ · unique landmarks at our Design Studios in Denmark, Czech Republic, and Germany. We manufacture all products ourselves within our state-of-the-art manufacturing

The COROCORD™ Frame Nets are

KOMPAN’s latest innovation in rope play. A

brand-new series drawing on a modern,

geometric design and a high degree of

flexibility. The newest technology facilitates

various ways of customisation with the use

of membranes, themes and colours. The

Frame Nets unfold a three-dimensional

rope environment in which children can

move freely and play in all directions.

Navigating around in the Frame Nets’ web

of ropes encourages logical thinking in the

child, and stepping from one rope to the

next trains the child’s cross-coordination

skills and body strength.

The Frame Nets’ small footprint makes it

ideal for less spacious play areas – without

compromising on play value.

NEW FRAME NETSDesign your own dragon

Dragite with path membrane.The dragon is slowly awakening. The membranes inside the dragon’s heart increase the fun inside. The membranes come as small nests stimulating social play or as paths stimulating physical play.

Add a tail to the dragon and make extra room for fun on the outside. The add-on allows more children to play simultaneously.

Core structure Dragite.The dragon is still sleeping. Do you dare bring it to life?

FLEXIBILITY – TO PLAY IT YOUR WAY

The dragon is awake and stretching its wings. Increase the thematisation and choose the colour of your dragon.

INNOVATION

14 WWW.KOMPAN.COM

Page 15: ANNUAL REVIEW 2018€¦ · unique landmarks at our Design Studios in Denmark, Czech Republic, and Germany. We manufacture all products ourselves within our state-of-the-art manufacturing

Available in five fully transparent core structures

The Frame Nets are available in five fully transparent core structures. Add membranes, add-ons and themes to increase the fun and play capacity.

WWW.KOMPAN.COM 15

Page 16: ANNUAL REVIEW 2018€¦ · unique landmarks at our Design Studios in Denmark, Czech Republic, and Germany. We manufacture all products ourselves within our state-of-the-art manufacturing

YOU & ME SWING SEATSwing together

THE YOU & ME SWING SEAT enhances any playground environment

and works perfectly as being a part of

more traditional swing solutions.

THE YOU & ME SWING is especially good

for very young children and children with

disabilities who need extra support and

emotional closeness to engage in swing-

ing. The open steel frame makes it easy

for an adult to place the child in the swing.

The open seat frame is ergonomically

correct and provides good support for

children of all sizes between the ages of 1

and 4 years.

THE CHILD SEAT is placed slightly higher than the adult seat

to even out the size difference between

child and adult and enable eye contact at

eye level. The open adult seat welcomes

adults of all abilities and sizes.

THE EYE CONTACT and the full attention from an adult care-

giver makes the child feel noticed and

secure. Swinging and being completely

absorbed in each other’s company, that’s

where unique emotional bonding hap-

pens.

INNOVATION

16 WWW.KOMPAN.COM

Page 17: ANNUAL REVIEW 2018€¦ · unique landmarks at our Design Studios in Denmark, Czech Republic, and Germany. We manufacture all products ourselves within our state-of-the-art manufacturing

The open steel frame makes it easy for an adult to place the child in the swing.

WWW.KOMPAN.COM 17

Page 18: ANNUAL REVIEW 2018€¦ · unique landmarks at our Design Studios in Denmark, Czech Republic, and Germany. We manufacture all products ourselves within our state-of-the-art manufacturing

INNOVATION

NEW FITNESS BIKETime to get your heart rate up!

OPTIONAL TOUCHSCREENDurable 7” LCD colour touchscreen with IK8 protection glass gives instant feedback on speed, distance, time, cadence, watts, burned calories, and the possibility of adjusting the resistance.

CONNECTED BIKING EXERCISEThe KOMPAN Cardio app offers the same functionality as the screen and much more. With the app, users can connect through Bluetooth, get access to instructional and motivational videos, store their activity and share to external platforms, such as Strava, Apple Health and Google Fit. It furthermore connects to apps such as Vescape and Zwift, where users can gamify the biking experience, ride virtual roads, and compete against cyclists from around the world.

IMPORTANCE OF CARDIO EXERCISEA higher level of fitness is associated with

a better chance for a long healthy life

with a high functional capacity – not just

physically, but also mentally. For diseases,

aerobic exercise is one of the most effec-

tive ways to reduce symptoms or reverse

pathology. At community level, investments

that improve population fitness are highly

cost-effective.

The new outdoor fitness bike from KOM-

PAN is designed to both encourage an

active lifestyle for people new to training,

and to challenge the most demanding fit-

ness enthusiasts. Users can adjust saddle

height and cycling resistance to match

their personal posture and fitness level.

For the first time ever on an outdoor fitness

bike, it is possible to directly track workout

power, cadence, and calories, allowing

users to improve their performance and

reach their personal goals.

The bike works in an intelligent way. With

an innovative patent pending Automatic-

Drive-feature, it adapts resistance intel-

ligently depending on pedalling speed

thereby adjusting to meet the exact needs

of the rider, making excercise easier for

beginners and harder for the more expe-

rienced.

It is also possible for the individual users to

manually adjust the resistance level.

Until this KOMPAN innovation such sophis-

ticated hardware was only available in

gyms. The outdoor cycling class is now a

reality – are you ready to join?

18 WWW.KOMPAN.COM

Page 19: ANNUAL REVIEW 2018€¦ · unique landmarks at our Design Studios in Denmark, Czech Republic, and Germany. We manufacture all products ourselves within our state-of-the-art manufacturing

WWW.KOMPAN.COM 19

Page 20: ANNUAL REVIEW 2018€¦ · unique landmarks at our Design Studios in Denmark, Czech Republic, and Germany. We manufacture all products ourselves within our state-of-the-art manufacturing

As part of daily business, KOMPAN strives

to always comply with relevant legislation

and the UN Global Compact principles. As

part of the efforts to adhere to the princi-

ples of the UN Global Compact, KOMPAN

has introduced anti-corruption measures,

clearly emphasising, that the Group does

not accept any kind of undue payment in

any business transaction. In 2018, KOM-

PAN continued the implementation of our

business ethics policy including the anti-

bribery policy, which covers bribery, facilita-

tion payments, gifts and entertainment, as

well as political and charity contributions

for the growing KOMPAN Group.

For a brighter future, we never stop inves-

tigating ways to reduce our environmental

footprint. In sourcing, every effort is made

to use totally sustainable resources or

raw materials generated through recycled

waste. In manufacturing, what little waste

we have is recycled. In play, 100% safe

products are the target and the number

one priority.

For further information about KOMPAN’s

CSR activities, please see the 2018 Global

Compact communications on progress

report available at:

www.kompan.com/corporate-responsibility

SAFE MATERIAL SURFACESA great playground interacts with children, and children touch, jump, slide, kick and might even kiss or lick the playground. That is why all surfaces need to be safe. We go beyond the required outdoor playground standards and also comply with the toy standard EN 71-3 for Migration of Certain Elements.

We are proud to be certified according to the environmental standard ISO14001

Our catalogues use paper from ecological sources

ENVIRONMENTAL, SOCIAL, AND GOVERNANCE

WE CARE ABOUT CHILDREN WE CARE ABOUT THEIR FUTURE

Let’s play green!

20 WWW.KOMPAN.COM

Page 21: ANNUAL REVIEW 2018€¦ · unique landmarks at our Design Studios in Denmark, Czech Republic, and Germany. We manufacture all products ourselves within our state-of-the-art manufacturing

SUSTAINABLE WOODRobinia is amongst the most prolific of trees, it is strong and grows rapidly, the perfect partner for our wooden products. Our Robinia supplies come from countries in Europe from plantations and from na-tural forest under responsible sustainable forest management. We also offer other types of wood certified by FSC®.

RECYCLED WOODWood-plastic composite panels are used for our Multi Use Games Areas. They are made of recycled wood and HDPE. Besides its green profile, the panel has the same texture look as wood, is highly durable and never needs painting or treating with oil.

NO WASTE In the workshop, material us-age is optimised, and the rest is recycled. For example the cutting-out process of panels is computer generated in or-der to minimise residue. Like every offcut of plastic, every speck of sawdust is gathered and recycled.

RECYCLED PLASTICThe KOMPAN EcoCoreTM panel, made of layers of HDPE, has many applications in playgrounds and outdoor fitness, such as sides, roofs and seats. It is a highly durable, eco-friendly panel, which is not only recyclable after use, but also consists of a core pro-duced from 100% recycled, controlled material.

RECYCLED SAFETY SURFACING KOMPAN Flexotop™ Wetpour System is partly made from recycled material. The bottom layer is made from a special mix (recycled material SBR, NR and EPDM), and the top layer is made from virgin rubber or recycled black EPDM or FLEXOGRIND.

WWW.KOMPAN.COM 21

Page 22: ANNUAL REVIEW 2018€¦ · unique landmarks at our Design Studios in Denmark, Czech Republic, and Germany. We manufacture all products ourselves within our state-of-the-art manufacturing

INVESTORS SHAREHOLDING

The Dyvig family 60%

Kirk Kapital 25%

Executive Board and other executives in KOMPAN (63 shareholders) 15%

At 31 December 2018

Connie Astrup-LarsenCEOAppointed 2008

Christian Dyvig

EXECUTIVE BOARD:

CHAIRMAN:

Peter Elkjær-LarsenCFOEmployed 2014

Jesper Egelykke JensenCSCOEmployed 1998

OWNERSHIP KOMPAN is owned by a group of dedicated long-term

shareholders. The Dyvig family owns 60% of the shares, Kirk

Kapital owns 25%, while the remaining 15% of the shares are

owned by the Executive Board and 60 other executives in

KOMPAN.

The ownership is united by a clearly defined vision to sustain

KOMPAN’s growth by expanding the boundaries of intelligent

play, fitness and learning. We do this by continuously developing

and launching new engaging, fun, and unique solutions.

KOMPAN’s owners are dedicated to being the world’s leading

social infrastructure company, making society better through

play, sport, and fitness.

BOARD AND MANAGEMENT The Board of Directors consists of representatives of the two

largest shareholders: Christian Dyvig, Mia Dyvig and Andreas

Færk as well as two employee representatives: Jeanette Fich

Jespersen and Otto Mertz.

The Executive Board consists of Chief Executive Officer

Connie Astrup-Larsen, Chief Supply Chain Officer Jesper Egelykke

Jensen, and Chief Financial Officer Peter Elkjær-Larsen.

22 WWW.KOMPAN.COM

Page 23: ANNUAL REVIEW 2018€¦ · unique landmarks at our Design Studios in Denmark, Czech Republic, and Germany. We manufacture all products ourselves within our state-of-the-art manufacturing

CONSOLIDATED FINANCIAL STATEMENTS 2018

WWW.KOMPAN.COM 23

Page 24: ANNUAL REVIEW 2018€¦ · unique landmarks at our Design Studios in Denmark, Czech Republic, and Germany. We manufacture all products ourselves within our state-of-the-art manufacturing

INCOME STATEMENT 2018 2017

Revenue 1,935.0 1,670.2

Production costs, development costs and distribution cost -1,643.8 -1,439.8

Administrative expenses -50.6 -52.9

EBITDA 240.6 177.5

Depreciation of fixed assets -36,4 -34,3

Amortisation of acquired trademarks -20.3 -20.3

Restructuring costs, etc. -15.7 -38.6

Operating profit 168.2 84.3

Financial income 13.8 13.1

Financial expenses -52.1 -60.4

Profit before tax 129.9 37.0

Tax on profit for the year -32.7 -12.7

Profit for the year 97.2 24.3

INCOME STATEMENT1 January to 31 December 2018

DKK million

DETAILSFor the sake of clarity and user friendliness, KOMPAN has published this Annual Review with highlights from the calendar year 2018.

The annual report for KOMPAN Holding A/S for the financial year 2018, pursuant to section 149 of the Danish Financial Statements Act, is available at The Danish Business Authority.

24 WWW.KOMPAN.COM

Page 25: ANNUAL REVIEW 2018€¦ · unique landmarks at our Design Studios in Denmark, Czech Republic, and Germany. We manufacture all products ourselves within our state-of-the-art manufacturing

WWW.KOMPAN.COM 2525 WWW.KOMPAN.COM

Page 26: ANNUAL REVIEW 2018€¦ · unique landmarks at our Design Studios in Denmark, Czech Republic, and Germany. We manufacture all products ourselves within our state-of-the-art manufacturing

26 WWW.KOMPAN.COM

Page 27: ANNUAL REVIEW 2018€¦ · unique landmarks at our Design Studios in Denmark, Czech Republic, and Germany. We manufacture all products ourselves within our state-of-the-art manufacturing

ASSETS 2018 2017

Non-current assets

Intangible assets 1,286.3 1,303.6

Property, plant and equipment 128.1 121.1

Other receivables 0.9 0.7

Total non-current assets 1,415.3 1,425.4

Current assets

Inventories 156.3 112.4

Trade receivables 350.2 293.7

Other receivables and prepayments 37.3 31.4

Cash at bank and in hand 64.8 34.4

Total current assets 608.6 471.9

TOTAL ASSETS 2,023.9 1,897.3

EQUITY AND LIABILITIES 2018 2017

Equity

Share capital 51.8 51.8

Retained earnings 673.4 579.1

Total equity 725.2 630.9

Liabilities

Non-current liabilities

Pensions and similar obligations 3.1 2.6

Deferred tax, net 52.2 51.1

Bank loans 637.7 702.6

Other payables 65.9 77.1

Total non-current liabilities 758.9 833.4

Current liabilities

Provisions 3.0 7.6

Bank loans and overdrafts 110.1 100.4

Prepayments from customers 54.3 51.1

Trade payables 237.7 180.8

Other payables 134.7 93.1

Total current liabilities 539.8 433.0

Total liabilities 1,298.7 1,266.4

TOTAL EQUITY AND LIABILITIES 2,023.9 1,897.3

BALANCE SHEETAt 31 December 2018

DKK million

WWW.KOMPAN.COM 27

Page 28: ANNUAL REVIEW 2018€¦ · unique landmarks at our Design Studios in Denmark, Czech Republic, and Germany. We manufacture all products ourselves within our state-of-the-art manufacturing

RUMBA FURNITURE SERIES Contemporary design for all environments

28 WWW.KOMPAN.COM

Page 29: ANNUAL REVIEW 2018€¦ · unique landmarks at our Design Studios in Denmark, Czech Republic, and Germany. We manufacture all products ourselves within our state-of-the-art manufacturing

KOMPAN HEADQUARTERS

KOMPAN Holding A/SC.F. Tietgens Boulevard 32C5220 Odense SØDenmarkTel.: +45 63 62 12 [email protected]

KOMPAN A/SC.F. Tietgens Boulevard 32C5220 Odense SØDenmarkTel.: +45 63 62 12 [email protected]

COUNTRY ENTITIES

EUROPE

KOMPAN DENMARKKOMPAN Danmark A/SC.F. Tietgens Boulevard 32C5220 Odense SØDenmarkTel.: +45 63 62 10 [email protected]

KOMPAN NORWAYKOMPAN Norge ASGrønland 53, Papirbredden 33045 DrammenNorwayTel.: +47 81 50 07 [email protected]

KOMPAN SWEDENKOMPAN Sverige ABFabriksvägen 943535 MölnlyckeSwedenTel.: +46 (0)31-96 88 [email protected]

KOMPAN FINLANDKOMPAN Suomi OYKiviaidankatu 2H00210 HelsinkiFinlandTel.: +358 20 [email protected]

KOMPAN NETHERLANDSKOMPAN BVLangestraat 37A6624 AA, HeerewaardenHollandTel.: +31 (0)418 68 14 [email protected]

KOMPAN INSTALLATION BENELUXRepcon B.V.Langestraat 37A6624 AA HeerewaardenHollandTel.: +31 (0) 88 678 01 [email protected]

KOMPAN BELGIUMKOMPAN NV/SABosstraat 158780 OostrozebekeBelgiumTel.: +32 (0)9/216 66 [email protected]

KOMPAN COMMERCIAL SYSTEMS KOMPAN Commercial Systems SARue du Têris 2, 4100 SeraingBelgiumTel.: +32 (0)4 384 05 60info@KOMPAN- commercialsystems.com

KOMPAN GERMANYKOMPAN GmbHRaiffeisenstraße 1324941 FlensburgGermanyTel.: +49 461 [email protected]

KOMPAN AUSTRIAKOMPAN Austria GmbHMaria-Jacobi-Gasse 2/1/A31030 ViennaAustriaTel.: +43 1 907 25 [email protected]

KOMPAN SWITZERLANDKOMPAN GmbHc/o Haussmann Treuhand AGSeefeldstrasse 45Postfach, 8034 ZurichSwitzerlandTel.: +41 044 261 22 [email protected]

KOMPAN FRANCEKOMPAN SAS363 rue Marc Seguin77190 Dammarie Les LysFranceTel.: +33 1 64 37 73 [email protected]

KOMPAN ENGLANDKOMPAN LTD21 Roebuck Way, KnowlhillMilton Keynes MK5 8HLUnited KingdomTel.: +44 (0)[email protected]

KOMPAN SCOTLANDKOMPAN Scotland LTDQuarrywood CourtLivingston EH54 6AXScotlandTel.: +44 (0)15 06 44 22 [email protected]

KOMPAN IRELAND KOMPAN Ireland LTDGalway Technology CentreMervue Business Park, GalwayIrelandTel. : +353 (0) 917 048 [email protected]

KOMPAN SPAINJuegos KOMPAN, S.A.C/Camí del Mig, 8108302 Mataró (Barcelona)SpainTel.: +34 902 194 [email protected]

KOMPAN ITALYKOMPAN Italia S.r.l.Via Torino, 220123 Milano ItalyTel.: +39 (0)2 89 76 08 [email protected]

KOMPAN RUSSIAOOO KOMPAN2nd Floor, Premises XXI, XXII, Offices 21-32, 4-832, Marshal Biryuzov Street, Building 1,123060, Moscow,Russian FederationTel.: +7 (495) [email protected]

MIDDLE EAST

KOMPAN MIDDLE EASTKOMPAN Middle EastCommercial Brokers L.L.CLevel 44, Vision TowerBusiness Bay, PO Box 454487DubaiUnited Arab EmiratesTel.: +971 54 388 [email protected]

AMERICAS

KOMPAN USA & CANADAKOMPAN, Inc. 605 W. Howard Ln, Suite 101 Austin, TX 78753 USATel.: +1-800-426-9788 [email protected]

ASIA/PACIFIC

KOMPAN AUSTRALIAKOMPAN Playscape Pty Ltd7 Prosperity PlaceGeebung, QLD 4034AustraliaTel.: +61 (0) 7 3635 [email protected]

KOMPAN SINGAPOREKOMPAN Asia Pte. Ltd.47 Scotts Road, #05-03AGoldbell TowersSingapore 228233SingaporeTel. : +65 6909 [email protected]

KOMPAN CHINAKOMPAN Playgrounds (Shanghai) Co., Ltd. Room 908, T4,Qibao Baolong Square# 1, Lane 399, Xinlong Road Shanghai, 201101P.R. ChinaTel.: +86 21 5439 [email protected]

MANUFACTURING FACILITIES

KOMPAN MANUFACTURING CZECH REPUBLICKOMPAN Czech Republic s.r.o.Vlastimila Pecha 1267/6627 00 Brno-CernoviceCzech RepublicTel.: +420 547 426 [email protected]

KOMPAN MANUFACTURING GERMANYKOMPAN Design Studio &Manufactoring, Berlin GmbHHolzhauser Strasse 13913509 BerlinGermanyTel.: +49 30 [email protected]

KOMPAN MANUFACTURING POLAND KOMPAN Manufacturing Poland Sp. z o.o.ul. Przemyslowa 266-470 Kostrzyn nad OdraPolandTel.: +48 95 733 74 [email protected]

ADDRESSES

WWW.KOMPAN.COM 29

Page 30: ANNUAL REVIEW 2018€¦ · unique landmarks at our Design Studios in Denmark, Czech Republic, and Germany. We manufacture all products ourselves within our state-of-the-art manufacturing

KOMPAN Holding A/SC.F. Tietgens Boulevard 32CDK-5220 Odense SØDenmarkTel.: +45 63 62 12 50

[email protected]. no. 35 66 39 08

Visit KOMPAN’s website for more financial information

Use your QR scanner or download a free application to your mobile:

http://reader.kaywa.com