Total assets increased to EUR 100.5 million from EUR 97.0 million in 2021. The increase was mainly due to the increase in the working capital items, Trade receivables and Contract work in progress, net.

 

As a result of the loss for the year, equity decreased by EUR 1.2 million to EUR 48.8 million. The solvency ratio was 49% as of 31 December 2022 and the solvency ratio remains strong, despite current year loss.

 

Management is not aware of any events subsequent to 31 December 2022 that are expected to have a material impact on DHI's financial position.

 

As of 1 February 2023, DHI established a new company together with Aarhus Vand A/S. The company, ‘Utilizero’, will offer DHI's digital solutions such as TwinPlant combined with Aarhus Vand’s experiences from their digital transformation within automation, process optimisation, sensors and treatment processes for wastewater.

 

Growth in order inflow and revenue is expected to continue. However, increasing inflation remains a risk as index adjustments in consultancy and software sales prices are not always possible due to various contract terms. In addition, the development of the financial markets and the geopolitical impact of the war in Ukraine and the related consequential impacts remain uncertain. Despite this uncertainty we expect both revenue and EBIT to grow compared to 2022.