The Parent Company financial statements show the financial position and results of DHI A/S on a non-consolidated basis for the financial year 1 January to 31 December 2023.

No separate cash flow statement has been prepared for the Parent Company, in accordance with section 86(4) of the Danish Financial Statements Act.

In 2023, a misstatement of EUR 0.6 million was identified related to incorrect recognition of sales in 2022 in a subsidiary. Based on the materiality of the misstatement, Management has adjusted this in 'Income from subsidiaries' for 2022, resulting in an increased 'Loss for the year' for 2022 from EUR 1.1 million as reported previously to EUR 1.7 million. 'Equity', 'Investments in subsidiaries' and related note disclosures have been adjusted accordingly.

The accounting policies of the Parent Company are unchanged from last year and identical to the accounting policies in DHI's consolidated financial statements, with the following exceptions:

The item 'Income from subsidiaries' in the income statement includes the proportionate share of the profit for the year.

Investments in subsidiaries are recognised and measured under the equity method. The item 'Investments in subsidiaries' in the balance sheet include the proportionate ownership share of the net asset value of the enterprises calculated on the basis of the fair values of identifiable net assets at the time of acquisition with deduction or addition of unrealised intercompany profits or losses and with addition of the remaining value of any increases in value and goodwill calculated at the time of acquisition of the enterprises.

The total net revaluation of investments in subsidiaries is transferred upon distribution of profit to 'Reserve for net revaluation under the equity method' under equity. The reserve is reduced by dividend distributed to the Parent Company and adjusted for other equity movements in the subsidiaries.

Subsidiaries with a negative net asset value are recognised at EUR 0. Any legal or constructive obligation of the Parent Company to cover the negative balance of the enterprise is recognised in provisions.

Accounting estimates and judgements of the Parent Company are identical to the items included in the consolidated financial statements. Reference is made to note 2 Accounting estimates and judgement to the consolidated financial statements.